Oriental Watch Holdings Limited (Oriental Watch) that founded in 1961, has developed an
extensive retail shop network in the Greater China area, and has become one of the largest
watch retailers. Company carries around a hundred prestigious brands, in particular, famous
Swiss brands such as Rolex, Tudor, Piaget, Vacheron Constantin, IWC, Jaeger-LeCoultre,
Girard Perregaux, Longines, Omega, etc. Company operates a total of 12 shops in HK SAR
and Macau SAR, including Oriental Watch Company, La Suisse Watch Company, Rolex and
Tudor Boutique and Breitling Boutique. In 2004, company expanded its watch retail business
to Mainland China. Since then, company has opened a number of outlets and boutiques
covering various cities in Mainland, China. Subsequently, company has further expanded its
businesses to Taiwan region. As at 30 September 2022, company operates 44 retail points
(including associate retail stores) in the Greater China region, and 1 online store in each of
the Mainland China and HK respectively.
HK operation outperformed the market with revenue increased by 6.1%
In 1HFY2023 (for the six months ended 30 September 2022), company`s revenue decreased
by 10.0% yoy to HK$1,674 million, which was mainly attributable to the decrease in revenue
in the Mainland China market as a result of business interruptions due to such lockdown
policy and restrictions. In line with the decrease in revenue, gross profit decreased by 6.9%
to HK$537 million, with gross profit margin increased by 1.1 percentage points to 32.1%, and
profit attributable to owners of the company decreased by 9.6% to HK$151 million. Basic
EPS were 31.03 HK cents, down 9.2% yoy. Interim dividend of 7.8 HK cents per share
(1HFY2022: 8.6 HK cents per share) and a special dividend of 23.5 HK cents per share
(1HFY2022: 25.8 HK cents per share)