Annu Al Repor T 2019 二零一九年年報

ANNUAL REPORT 2019 REPORT ANNUAL 2019 二零一九年年報 CORPORATE INFORMATION 公司資料 Board of Directors 董事會 Executive Directors 執行董事 Mr. Vincent CHOW Wing Shing 周永成先生 Chairman and Group General Manager 主席兼集團總經理 Dr. Gerald CHOW King Sing 周敬成醫生 Mr. Winston CHOW Wun Sing 周允成先生 Group Deputy General Manager 集團副總經理 Non-executive Directors 非執行董事 Dr. CHAN Bing Fun* 陳炳勳醫生 * Mr. Stephen TING Leung Huel 丁良輝先生 Mr. CHUNG Pui Lam 鍾沛林先生 Mr. LEE Ka Lun* 李家麟先生 * Dr. LO King Man* 盧景文博士 * Mr. Stephen LAU Man Lung* 劉文龍先生 * * Independent Non-executive Directors * 獨立非執行董事 Company Secretary 公司秘書 Mr. Morison CHAN Chi Kong 陳志光先生 Registered Office 註冊辦事處 Clarendon House, 2 Church Street Clarendon House, 2 Church Street Hamilton HM 11, Bermuda Hamilton HM 11, Bermuda Principal Place of Business 主要營業辦事處 4/F, Chow Sang Sang Building 香港 229 Nathan Road, Kowloon 九龍彌敦道 229 號 Hong Kong 周生生大廈 4 樓 Legal Advisers 法律顧問 Baker & McKenzie 貝克．麥堅時律師事務所 Wilkinson & Grist 高露雲律師行 Auditor 核數師 Ernst & Young 安永會計師事務所 Principal Bankers 主要往來銀行 The Hongkong and Shanghai Banking Corporation Limited 香港上海滙豐銀行有限公司 Standard Chartered Bank (Hong Kong) Limited 渣打銀行（香港）有限公司 Hang Seng Bank Limited 恒生銀行有限公司 The Bank of Nova Scotia 加拿大豐業銀行 Industrial and Commercial Bank of China Limited 中國工商銀行股份有限公司 Bank of China (Hong Kong) Limited 中國銀行（香港）有限公司 Website 網頁 www.chowsangsang.com www.chowsangsang.com You may go to our website by scanning this QR Code 如欲瀏覽集團網頁，可掃描此二維條碼 CONTENTS 目錄 2 Financial Highlights 財務摘要 3 Chairman’s Message 主席致辭 5 Board of Directors and Senior Management 董事會及高級管理人員 10 Management Discussion and Analysis 管理層討論及分析 17 Report of the Directors 董事會報告 26 Environmental, Social and Governance Report 環境、社會及管治報告 41 Corporate Governance Report 企業管治報告 54 Independent Auditor’s Report 獨立核數師報告 62 Consolidated Statement of Profit or Loss 綜合損益賬 63 Consolidated Statement of Comprehensive Income 綜合全面收益表 64 Consolidated Statement of Financial Position 綜合財務狀況表 66 Consolidated Statement of Changes in Equity 綜合權益變動表 68 Consolidated Statement of Cash Flows 綜合現金流量表 70 Notes to the Consolidated Financial Statements 綜合財務報告附註 181 Particulars of Properties Held 所持物業詳情 The following abbreviations are used in this report: 本年報使用下列簡稱： Abbreviations 簡稱 Chow Sang Sang Holdings International Limited The Company 周生生集團國際有限公司本公司 Chow Sang Sang Holdings International Limited The Group 周生生集團國際有限公司本集團 and its subsidiaries 及其附屬公司 CHOW SANG SANG HOLDINGS INTERNATIONAL LIMITED 1 ANNUAL REPORT 2019 周生生集團國際有限公司 2019 年報 FINANCIAL HIGHLIGHTS 財務摘要 2019 2018 HK$’000 HK$’000 Change 千港元千港元變動 Turnover 營業額 Jewellery retail 珠寶零售 16,258,416 17,130,414 -5% Other businesses 其他業務 1,477,810 1,675,928 -12% 17,736,226 18,806,342 -6% Profit attributable to equity holders 本公司權益持有人 of the Company 應佔溢利 643,533 1,012,257 -36% Earnings per share 每股盈利 – Basic – 基本 95.0 cents 仙 149.4 cents 仙 -36% – Diluted – 攤薄 95.0 cents 仙 149.4 cents 仙 -36% Dividend per share 每股股息 – Interim – 中期 14.0 cents 仙 15.0 cents 仙 – Final – 末期 25.0 cents 仙 44.0 cents 仙 Total dividend per share for the year 全年每股股息總額 39.0 cents 仙 59.0 cents 仙 Dividend payout ratio 派息比率 41% 39% Equity attributable to equity holders 本公司權益持有人 of the Company 應佔權益 10,632,385 10,418,937 +2% Equity per share 每股權益 $15.7 元 $15.4 元 +2% Turnover Return on equity Year 營業額權益回報年份 2019 16,258 1,478 17,736 % 14 ........................................................................................ 2018 17,130 1,676 18,806 12.5% 2017 14,516 2,117 16,633 12 ........................................................................................ 2016 14,045 2,048 16,093 9.7% 2015 16,723 2,346 19,069 10 ........................................................................................ 0 5,000 10,000 15,000 20,000 8.7% HK$’M Jewellery retail 珠寶零售 Other businesses 其他業務百萬港元 8 ........................................................................................ 8.2% 6 ........................................................................................ Profit attributable to equity holders of the Company 6.1% Year 本公司權益持有人應佔溢利年份 ........................................................................................ 2019 644 4 2018 1,012 2 ........................................................................................ 2017 876 2016 742 0 2015 2016 2017 2018 2019 2015 1,130 Year 年份 0 200 400 600 800 1,000 1,200 HK$’M 百萬港元 CHOW SANG SANG HOLDINGS INTERNATIONAL LIMITED 2 ANNUAL REPORT 2019 周生生集團國際有限公司 2019 年報 CHAIRMAN’S MESSAGE 主席致辭 There is scanty need for me to recount here the events that transpired 本人在此不用重述 2019 年在香港發生的 in Hong Kong in the year 2019. Half a year of internal strife in the city 事件。半年的社會內亂摧毀了多年來建立 has laid waste to much economic assets built up over the years, not to 的重大經濟成果，更遑論對民眾心理的損 mention the damage to the psyche of the population. Visitor numbers 害。旅客人數大減，我們為了保障安全而 went down to a trickle, and many business hours were lost when shops 不得不關閉商店和縮短營業時間，因而令 had to be shuttered for safety. Turnover in our business slumped. 營業額下滑。 In the course of the past year, it was increasingly apparent that China 在過去一年裡，中美角力越來越明顯，紛 and the USA are locked in a contest for supremacy and there is going 爭將遠超貿易戰。中國的經濟在動盪陰霾 to be a lot more than the salvoes fired in the trade war. Amidst the 中放慢了增長速度。 turmoil, China’s economy slowed its growth. The sales growth in our Mainland operations, fueled in the main by 我們內地業務的銷售增長主要由新店推 new stores, was not enough to offset the loss of sales in Hong Kong. In 動，但不足以抵消香港損失了的銷售。此 addition, we made margin provisions on loans arising from our securities 外，我們就證券及期貨經紀業務產生之孖 and futures broking business. The impact on the Group was such that 展貸款作出了撥備。對本集團造成的影響 total turnover 2019 decreased by 6% to HK$17.7 billion, the overall 是 2019 年總營業額下跌 6% 至 177 億港 profit attributable to equity holders had a decrease of 36% to HK$644 元，整體權益持有人應佔溢利下跌 36% 至 million. 644 百萬港元。 Any sense of relief brought on by the calming down of the unrest in 香港動盪情況於 2020 年 1 月平復下來所帶 Hong Kong, in January 2020, was soon overwhelmed by the onslaught 來的瞬間寬慰，迅即被 2019 冠狀病毒吞 of COVID-19. Our stores in Mainland China mostly stood closed in late 噬。我們在中國大陸的分店在 1 月下旬及 January and February, and those in Hong Kong and Macau, though 2 月大部分時間處於休店狀態，雖然香港 open, were put on curtailed trading hours with few customers to show. 及澳門的分店照常營業，但縮短了營業時 As we move into March, most of our stores outside of Hubei have 間，顧客人流亦稀少。踏入 3 月，我們在 reopened but trading is slow. 湖北以外的大部分分店雖已恢復營業，惟生意淡薄。 Throughout the battle with the virus, we have put safety and welfare 對抗疫症期間，我們以員工安全及福祉為 of our staff at the forefront, affording them the discretion to work at 重，讓他們在家工作或彈性上班。為了保 home or choose their hours of work. To conserve our wherewithal to 留公司的資金以渡過逆境，我們暫停了大 weather the storm, we have stopped most if not all procurement. To 部分的採購。為提升士氣，我們促成並鼓 energise our frontline, we have enabled and encouraged them to use 勵前線員工利用社交媒體接觸他們的客 social media to reach out to their customers. We are happy to note 戶。網店的運作全賴我們順德智能配送中 that our online shops were able to operate with minimal disruption, 心的員工大力協助下未受太大影響，集團 ably supported by our dedicated staff of Intelligent Fulfilment Center in 對此感到欣慰。 Shunde. Because of the disappearance of customer traffic in our stores, we 鑑於租約是於市況高位時簽署，以及客流 appealed to our landlords for rental relief based on the premise that the 嚴重減少，我們向業主提出減免租金之要 rental contract was signed at a time when footfall was vastly higher. 求，雖有個別業主對我們完全不表同情而 Many have been accommodating, to various degrees, and we applaud 拒絕我們的要求，但許多均願意作出不同 and thank them. A number have been downright unsympathetic, 程度的減免，對此集團表示讚揚並感謝這 however. In times of adversity, one knows who his friends are. 些與我們共度時艱的業主。此時此刻，確是患難見真情。 CHOW SANG SANG HOLDINGS INTERNATIONAL LIMITED 3 ANNUAL REPORT 2019 周生生集團國際有限公司 2019 年報 CHAIRMAN’S MESSAGE 主席致辭 At the time of writing it seems that we have seen the worst of the viral 執筆之時，我們可能已經歷了中國大陸及 outbreak in Mainland China and Hong Kong, but globally the situation 香港最嚴重的疫情爆發時刻，但全球的景 is unclear. We will maintain our vigilance over the wellbeing of our staff 況仍然未明。集團會對員工的福祉及生意 and our business, and we shall poise ourselves for the resurgence when 狀況保持警惕，並為雨過天青之復甦作好 the sky is finally clear. 準備。 I thank our staff, our shareholders and our customers for their unfailing 本人謹此感謝員工、股東及顧客對集團始 loyalty and support, and I wish everyone good health. 終如一的忠實支持，亦在此祝願各位身體健康。 Vincent CHOW Wing Shing 主席 Chairman 周永成 Hong Kong 香港 26 March 2020 2020 年 3 月 26 日 CHOW SANG SANG HOLDINGS INTERNATIONAL LIMITED 4 ANNUAL REPORT 2019 周生生集團國際有限公司 2019 年報 BOARD OF DIRECTORS AND SENIOR MANAGEMENT 董事會及高級管理人員 Dr. CHAN Bing Fun, MB, BS, DMRT, aged 86, is an Independent 陳炳勳醫生，MB，BS，DMRT，86 歲， Non-executive Director of the Company, and a member of the Audit 本公司之獨立非執行董事、審核委員會、 Committee, Remuneration Committee and Nomination Committee of 薪酬委員會及提名委員會成員。彼已服務 the Company. He has been with the Group for over 45 years. Dr. CHAN 本集團超過 45 年。陳醫生為香港私人執業 is a medical doctor in private practice in Hong Kong. 醫生。 Mr. Vincent CHOW Wing Shing, SBS, BBS, MBE, JP, aged 73, is an 周永成先生，SBS，BBS，MBE，太平紳士， Executive Director of the Company, the Chairman of the Board, the 73 歲，本公司之執行董事、董事會主席、 Group General Manager and a director of a number of subsidiaries 本集團總經理及本集團內多家附屬公司之 within the Group. Mr. CHOW is the cousin of Dr.

Load more