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Public company info - Larry Jewelry International Co. Ltd. , 08351.HK
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Larry Jewelry International Co. Ltd., 08351.HK - Company Profile
Chairman NA
Share Issued (share) 3,618,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Medicine
Corporate Profile Business Summary: The principal activities of the Group are design and retailing of jewelry products and sales of Chinese pharmaceutical products, dried seafood, health products and foodstuffs (“pharmaceutical and health food products”). Performance for the year: The Group’s revenue for the year was approximately HK$384,647,000 compared to approximately HK$434,748,000 for the last financial year, representing a decrease of about 11.5%, the profit attributable to owners of the Company was approximately HK$251,839,000 for the year compared to a loss of approximately HK$816,569,000 for the last financial year. Business Review Jewelry A new flagship shop was opened in a high-end shopping mall in Central in April 2018. The jewelry segment focuses on design and sales of jewelry products under the “Larry Jewelry” brand. The Group focuses on the development of products that are unique in design and of superb craftsmanship to meet the needs of individuals who have a discerning taste in jewelries. The luxury goods market in Hong Kong remained soft in 2018, and the jewelry segment recorded a drop in revenue of about 20.4% for the year ended 31 December 2018 as compared to 2017. Although there is a slight rebound of Hong Kong retail market according to recent statistics, Hong Kong is still facing weak momentum in retail industry. The Group managed to achieve a better profit margin in both Hong Kong and Singapore market. Pharmaceutical and health food products TFH and its subsidiaries are principally engaged in the business of sourcing, processing, re-packaging and retailing of Chinese pharmaceutical products, dried seafood, health products and foodstuffs in the brand name of “Tung Fong Hung” (“東方紅”) in Hong Kong, Macau and the mainland China. In Hong Kong, Tung Fong Hung Medicine Company Limited, the retailing arm of TFH, is a licensed manufacturer of nine types of traditional Chinese medicine (“TCM”) under the Chinese Medicine Ordinance. As at 31 December 2018, TFH has 15 retail shops in Hong Kong, 2 retail shops in Macau and 35 retail outlets in the mainland China. A new retail shop will open in a high-end shopping mall in Tseung Kwan O in mid-2019. The head office of TFH is located at Tai Po Industrial Estate in Hong Kong. Despite the weak retail market, TFH Macau contributed operating profits of approximately HK$1,671,000 (2017: HK$629,000) to the Group during the year. Looking ahead, TFH shall review the sales network and customer focus of TFH and to introduce more locally made products to suit the needs of domestic market through its newly refurbished food and TCM production facilities. Prospects: Jewelry The Group remains cautiously optimistic in the luxury jewelry market in the long-run. The Group will explore opportunities to broaden the geographic base of customers to markets outside Hong Kong and Singapore and increase its visibility across South East Asian countries. The Group also seeks to achieve a diversified customer base through the introduction of new distinctive and unique product designs to more youthful, cosmopolitan audience. Pharmaceutical and health food products In light of the recent business environment and financial resources on hand, the Group will continue to seek for suitable business opportunities to diversify the Group’s existing business stream to enhance the long-term benefits of the Company and the shareholders of the Company as a whole.

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