According to the annual results for the year ended March 31, 2024 released by Oriental Watch Group (00398), the group achieved revenue of HKD 3.639 billion, a YoY decrease of 1.8%. The attributable net profit of the company's shareholders was HKD 250 million, down 15.21% YoY. The EPS was 51.4 HK cents and a final dividend of 5.8 HK cents per share will be distributed, as well as a special dividend of 17.2 HK cents per share.

In the face of a challenging market environment, the Group maintained a similar level of revenue for the year by relying on its well-established brand portfolio and store network, as well as strict cost control. Revenue only slightly decreased by 1.8% YoY to HKD 3.639 billion (compared to HKD 3.705 billion in 2023). The gross margin remained relatively stable at 31.6% (compared to 32.1% in 2023), but gross profit decreased slightly by 3.2% YoY to HKD 1.151 billion (compared to HKD 1.189 billion in 2023) due to the decrease in revenue. In terms of revenue structure, due to the significant adjustments the Group made to its business in response to the COVID-19 pandemic in 2019, mainland China has surpassed Hong Kong to become the Group's main source of revenue, which has led to corresponding changes in the Group's cost structure. Ultimately, this resulted in a 15.3% YoY drop in attributable net profit of the company's shareholders to HKD 250 million (compared to HKD 295 million in 2023).