MOISELLEINT'L：AnnouncementofAnnualResultsfortheyearended31March2025.pdf

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1、1Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement,make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in relia

2、nce upon the whole or any part of the contents of this announcement.MOISELLE INTERNATIONAL HOLDINGS LIMITED慕 詩 國 際 集 團 有 限 公 司(Incorporated in the Cayman Islands with limited liability)(Stock Code:130)ANNOUNCEMENT OF ANNUAL RESULTSFOR THE YEAR ENDED 31 MARCH 2025ANNUAL RESULTSThe board(the“Board”)of

3、 directors(the“Directors”)of Moiselle International Holdings Limited(the“Company”)announces that the consolidated results of the Company and its subsidiaries(the“Group”or“Moiselle”)for the year ended 31 March 2025(the“Year”)with comparative figures for the previous corresponding year are as follows:

4、CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFOR THE YEAR ENDED 31 MARCH 202520252024NOTESHK$000HK$000Revenue3102,722137,311Cost of sales(20,430)(26,827)Gross profit82,292110,484Other income43,3146,142Other gains and losses52,026(4,491)Distribution and selling expenses(78,9

5、30)(84,048)Administrative and other operating expenses(54,513)(57,373)Loss from operations(45,811)(29,286)Loss on changes in fair value of investment properties(8,352)(16,136)Finance costs(5,697)(4,416)220252024NOTESHK$000HK$000Loss before taxation(59,860)(49,838)Income tax credit63,3071,728Loss for

6、 the year(56,553)(48,110)Other comprehensive expenseItem that will not be reclassified to profit or loss:Loss on revaluation of land and buildings held for own use,net of related income tax(23,579)(4,539)Item that may be reclassified subsequently to profit or loss:Exchange differences arising on tra

7、nslation of foreign operations,with nil tax impact(1,331)(2,481)Reclassification of cumulative translation reserve upon disposal of a foreign operation (7,251)(24,910)(14,271)Total comprehensive expense for the year(81,463)(62,381)Loss for the year attributable to:Owners of the Company(56,546)(48,10

8、0)Non-controlling interests(7)(10)(56,553)(48,110)Total comprehensive expense attributable to:Owners of the Company(81,456)(62,371)Non-controlling interests(7)(10)(81,463)(62,381)HK$HK$Loss per shareBasic7(0.20)(0.17)3CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAT 31 MARCH 202520252024NOTESHK$000HK$

9、000Non-current assets Investment properties129,498138,115Property,plant and equipment301,899342,410Right-of-use assets22,39232,996Deposits paid5,2593,818Deferred tax assets1,237323460,285517,662Current assetsInventories26,75127,273Trade and other receivables917,85428,645Bank balances and cash4,72423

10、,55849,32979,476Current liabilitiesTrade and other payables1023,85426,379Lease liabilities25,21525,334Tax payable2131,494Borrowings66,97850,725116,260103,932Net current liabilities(66,931)(24,456)Total assets less current liabilities393,354493,206Non-current liabilitiesLease liabilities6,55017,539De

11、ferred tax liabilities69,33276,73275,88294,271Net assets317,472398,935Capital and reservesShare capital2,8802,880Reserves315,856397,312Equity attributable to owners of the Company318,736400,192Non-controlling interests(1,264)(1,257)Total equity317,472398,9354Notes:1.GENERAL AND BASIS OF PREPARATIONT

12、he Company is an exempted company incorporated in the Cayman Islands with limited liability under the Companies Law,Chapter 22(Law 3 of 1961,as consolidated and revised)of the Cayman Islands and its shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited.Its ultimate holding c

13、ompany is Super Result Consultants Limited(“Super Result”),a limited company incorporated in the British Virgin Islands.Mr.Chan Yum Kit(“Mr.Chan”),the chairman and executive director of the Company,and Ms.Tsui How Kiu(“Ms.Tsui”),Shirley,executive director of the Company,each holds 46.7%equity intere

14、st in Super Result.The addresses of the registered office and principal place of business of the Company are disclosed in the section of Corporate Information in the Companys annual report.The Company acts as an investment holding company.The principal activities of the Companys subsidiaries are des

15、ign,manufacture and retail of fashion apparel and accessories.The consolidated financial statements are presented in Hong Kong dollars(“HK$”),which is also the functional currency of the Company.In preparing the consolidated financial statements,the Directors have given careful consideration to the

16、future liquidity of the Group in light of the fact that the Groups current liabilities exceeded its current assets by approximately HK$66,931,000 as at 31 March 2025.As at 31 March 2025,(i)total cash and cash equivalents of approximately HK$4,724,000 were held by the Group,(ii)approximately HK$57,46

17、3,000 of borrowings were revolving in nature,(iii)unutilised bank facilities amounted to approximately HK$16,339,000 were available,and(iv)approximately HK$311,432,000 aggregate carrying value of land and buildings held for own use and investment properties were available for pledge.Subsequent to 31

18、 March 2025,the Group obtained additional financing through(i)the intention of a controlling shareholder of the Company to provide continuing financial support of long-term loan facility amounting to HK$20,000,000,pursuant to which the Group drew down HK$2,500,000 in May 2025 and HK$1,000,000 in Jun

19、e 2025;and(ii)a new bank facility of approximately HK$6,452,000,which the Group fully utilised in June 2025.The Directors are of the view that they are actively and regularly reviewing the Groups debt structure through roll-over and/or re-financing its existing borrowings under current bank faciliti

20、es,and will consider making use of the unpledged assets to obtain additional banking facilities,when necessary.Based on the aforesaid factors and consideration of the cash flow forecast for the coming twelve months,the Directors have,at the time of approving the consolidated financial statements,a r

21、easonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future.Thus,the Group will continue to adopt a going concern basis of accounting when preparing the consolidated financial statements.52.APPLICATION OF NEW AND AMENDMENTS TO HKFRS ACC

22、OUNTING STANDARDSAmendments to HKFRS Accounting Standards that are mandatorily effective for the current yearIn the current year,the Group has applied the following amendments to HKFRS Accounting Standards issued by the Hong Kong Institute of Certified Public Accountants(“HKICPA”)for the first time,

23、which are mandatorily effective for the annual periods beginning on or after 1 April 2024 for the preparation of the consolidated financial statements:Amendments to HKFRS 16Lease Liability in a Sale and LeasebackAmendments to HKAS 1Classification of Liabilities as Current or NonCurrent and related a

24、mendments to Hong Kong Interpretation 5(2020)Amendments to HKAS 1Non-current Liabilities with CovenantsAmendments to HKAS 7 and HKFRS 7Supplier Finance ArrangementsExcept as describe below,the application of the amendments to HKFRS Accounting Standards in the current year has had no material impact

25、on the Groups financial positions and performance for the current and prior years and/or on the disclosures set out in these consolidated financial statements.Impacts on application of Amendments to HKAS 1 Classification of Liabilities as Current or Non-current and related amendments to Hong Kong In

26、terpretation 5(2020)(the“2020 Amendments”)and Amendments to HKAS 1 Non-current Liabilities with Covenants(the“2022 Amendments”)The Group has applied the amendments for the first time in the current year.The 2020 Amendments provide clarification and additional guidance on the assessment of right to d

27、efer settlement for at least twelve months from reporting date for classification of liabilities as current or noncurrent,which:specify that the classification of liabilities as current or non-current should be based on rights that are in existence at the end of the reporting period.Specifically,the

28、 classification should not be affected by management intentions or expectations to settle the liability within 12 months.clarify that the settlement of a liability can be a transfer of cash,goods or services,or the entitys own equity instruments to the counterparty.If a liability has terms that coul

29、d,at the option of the counterparty,result in its settlement by the transfer of the entitys own equity instruments,these terms do not affect its classification as current or non-current only if the entity recognises the option separately as an equity instrument applying HKAS 32“Financial Instruments

30、:Presentation”.6For rights to defer settlement for at least twelve months from reporting date which are conditional on the compliance with covenants,the 2022 Amendments specifically clarify that only covenants that an entity is required to comply with on or before the end of the reporting period aff

31、ect the entitys right to defer settlement of a liability for at least twelve months after the reporting date,even if compliance with the covenant is assessed only after the reporting date.The 2022 Amendments also specify that covenants with which an entity must comply after the reporting date(i.e.fu

32、ture covenants)do not affect the classification of a liability as current or non-current at the reporting date.However,if the entitys right to defer settlement of a liability is subject to the entity complying with covenants within twelve months after the reporting period,an entity discloses informa

33、tion that enables users of financial statements to understand the risk of the liabilities becoming repayable within twelve months after the reporting period.This would include information about the covenants,the carrying amount of related liabilities and facts and circumstances,if any,that indicate

34、that the entity may have difficulties complying with the covenants.The application of the amendments in the current year had no material impact on the consolidated financial statements.73.REVENUE AND SEGMENT INFORMATIONRevenueThe Group generated sales of fashion apparel and accessories with customer

35、s mainly through its own retail stores.For the years ended 31 March 2025 and 2024,revenue from sales of fashion apparel and accessories is recognised at a point in time when the goods are delivered to the customers.Segment informationThe Group manages its businesses by geographical locations.In a ma

36、nner consistent with the way in which information is reported internally to the Groups senior executive management for the purposes of resource allocation and performance assessment,the Group has presented the following two reportable segments.No operating segments have been aggregated to form the f

37、ollowing reportable segments.The Hong Kong operation represents the sales of house brands and imported brands in Hong Kong.The Outside Hong Kong operation represents the manufacture of house brands in the Mainland China and sales of house brands and imported brands in the Mainland China,Macau and Ta

38、iwan.Hong KongOutside Hong KongTotal202520242025202420252024HK$000HK$000HK$000HK$000HK$000HK$000Revenue from external customers61,00583,91341,71753,398102,722137,311Inter-segment revenue5,3807,4598,79420,69714,17428,156Segment revenue66,38591,37250,51174,095116,896165,467Segment profit(loss)3,11818,

39、370(10,163)(2,475)(7,045)15,8954.OTHER INCOME20252024HK$000HK$000Gross rental income from investment properties2,0093,821Interest income from bank deposits252735Service fee income694945Government grants424Others3592173,3146,14285.OTHER GAINS AND LOSSES20252024HK$000HK$000Gain on early termination of

40、 lease contracts1,197395Exchange gain(loss),net575(1,507)Gain on disposal of property,plant and equipment25498Loss on disposal of investment in subsidiaries (3,477)2,026(4,491)6.INCOME TAX CREDIT20252024HK$000HK$000Current tax-Outside Hong KongProvision for the year(292)(1,393)Under-provision for pr

41、ior years(2,440)(292)(3,833)Deferred tax3,5995,561Income tax credit3,3071,7287.LOSS PER SHAREThe calculation of the basic loss per share attributable to the owners of the Company is based on the following data:Loss20252024HK$000HK$000Loss for the year for the purpose of calculating basic loss per sh

42、are(56,546)(48,100)Number of shares 20252024000000Weighted average number of ordinary shares for the purpose of basic loss per share287,930287,930Diluted loss per share is not presented as the Company does not have any dilutive potential ordinary share for both years.98.DIVIDENDSNo dividend was paid

43、 or proposed to the ordinary shareholders of the Company during the years ended 31 March 2025 and 2024,nor has any dividend been proposed since the end of the reporting period.9.TRADE AND OTHER RECEIVABLESAs of the end of the reporting period,the ageing analysis of trade receivables,based on invoice

44、 date and net of loss allowance,is as follows:20252024HK$000HK$000Within 30 days4,1706,83131 to 90 days4631,51391 to 180 days437Over 180 days9515,5848,781Trade receivables are due within 30 to 90 days from the invoice date.10.TRADE AND OTHER PAYABLESAs of the end of the reporting period,the ageing a

45、nalysis of trade payables,based on the invoice date,is as follows:20252024HK$000HK$000Within 30 days37558331 to 90 days791,243Over 90 days3,2513,2493,7055,07510MARKET OVERVIEWThe apparel retail markets continued to be affected by weak consumer sentiment that had resulted from the sluggish economy,wh

46、ich was exacerbated by trade war amid escalating geopolitical tensions.In Hong Kong,where the Group derived about 59%of its revenue,the value of retail sales of wearing apparel dropped by about 10.6%to approximately HK$37.91 billion in 2024,in sharp contrast to the about 43.5%growth in 2023(source:T

47、he Census and Statistics Department of the Hong Kong Special Administrative Region(“HKSAR”).The decline was attributable to the citys weak economy,gloomy job prospects and the fundamental changes in the consumer behaviour of both the locals and tourists.While there has been an increasing trend for t

48、he Hong Kong residents to spend holidays relaxing and shopping in Mainland China and foreign countries,notably Japan,Mainland Chinese tourists,who accounted for the majority of the visitor arrivals in the city,had less buying power than they used to have and were becoming more interested in sightsee

49、ing than in shopping.The situation was also not helped by the fact that the total visitor arrivals in Hong Kong in 2024 only bounced back to about 79.59%of the pre-pandemic level in 2019(source:Hong Kong Tourism Board quoting the data from the Immigration Department of the HKSAR).Another problem was

50、 the irrepressibly high rents for shop spaces despite the decreasing retail sales and more frequent shop closures during the economic hard times total retail sales were decreasing year on year for thirteen consecutive months from March of 2024 to March of 2025(source:The Census and Statistics Depart

51、ment of the HKSAR).The apparel market in Mainland China faced similar difficulties as the ongoing property sector crisis was still weighing on the economy,and the situation was worsened by the trade war waged by the United States on China and many other countries.This resulted in bleak employment an

52、d business prospects,thus denting the consumer confidence.Growth in the value of retail of apparel,shoes,headwear and knitted products in the country decelerated to 0.3%in 2024 from 12.9%in 2023(source:National Bureau of Statistics of the Peoples Republic of China).However,rents for shop spaces rema

53、ined high as leading fashion brands vied for prime locations at the top-ranking shopping malls in cities.In addition to coping with the unfavourable macroeconomic conditions,the fashion apparel companies have also been adapting themselves to fundamental trends in the industry for many years,includin

54、g the emergence of a younger generation of consumers whose consumption behaviour and preferences are different from those of the older generations;the younger consumers attaching less importance to big brand names as status symbols but more to apparels functions and match to their personal styles;po

55、pulation aging and longer life expectancy;and the advent of information technologies such as the internet,electronic commerce and social media.Catering to the preferences of both the younger generation and the youthful,energetic middle-aged people with longer life expectancy as well as making full u

56、se of the information technologies to promote and sell the products are the way forward for the industry.11OVERVIEW OF OPERATIONSTargeting the markets for luxurious and mid-range apparel,the Group operates such house brands as MOISELLE,m.d.m.s.and GERMAIN,while engaging in distributorship for intern

57、ational brand LANCASTER.Each of the brands has its own distinctive consumer base and is being developed separately by the Groups dedicated and talented designer teams for house brands.The Group retails its products under the various brands at stores in prime locations.As at 31 March 2025,the Group h

58、ad 31 stores and counters in Hong Kong,first-and second-tier cities of Mainland China,Macau and Taiwan,compared to 32 stores as at 31 March 2024.It closed some underperforming stores but also opened some stores in places with good prospect to rationalize its network of retail outlets.REVIEW OF OPERA

59、TIONS BY LOCATIONOperations in Hong KongRevenue from the Groups operations in Hong Kong decreased by 27%to HK$61,005,000 for the Year as the citys apparel market was hit hard by the economic doldrums and profound changes in the consumer behaviour of both the locals and inbound tourists the growing t

60、rend for Hong Kong residents to spend holidays in Mainland China or overseas for relaxation and consumption on the one hand,and Mainland Chinese tourists who have less buying power than they used to have and whose interest shifts more to sightseeing from shopping on the other hand.Having realized th

61、at it could no longer merely rely on public holidays for boosting sales,the Group participated in more short-term promotional sales throughout the year on commercial premises such as those at Cathay Pacific City,the Hong Kong International Airport;at Time Square,Causeway Bay;and at Sogo in The Twins

62、,Kai Tak.It also participated in shopping malls promotional campaigns and reward points redemption programmes.Another problem that has long plagued the retail sector in the city is the irrepressibly high rents for shop spaces despite the decreasing retail sales and more frequent shop closures during

63、 the economic hard times.Rents of shop spaces at prime locations,especially the high-end shopping malls in the city,stabilized at high levels during the Year.The Group tried to negotiate with the landlords for lower rents but did not get many positive responses.To cope with the problem,the Group has

64、 been rationalizing its store network and actively developing its electronic commerce business for the purposes of boosting sales and conducting marketing campaigns.To strengthen its business presence in Hong Kong,the Group had been prudently seeking for shop spaces with good prospect at reasonable

65、rents.It also kept its store network to an optimal minimum by maintaining its presence mainly at high-end shopping malls in prime locations.For instance,it relocated its shop at Cityplaza in Taikoo Shing,and re-opened it in September 2024.12To capitalize on the popularity of electronic commerce and

66、fan economy,the Group leverages social media and e-commerce platforms as cost-effective means to market and sell its products.During the Year,the Group proactively sought to expand its quality customer base by marketing its products on RedNote,an online social media focused on fashionable and lifest

67、yle trends and products.It also sponsored some artistes who modelled MOISELLEs products on social media.The Group is also running two online platforms respectively for the marketing and sales of the MOISELLE products for its Hong Kong operations and for the retailing of its diffusion lines under suc

68、h brands as m.d.m.s.,GERMAIN and LANCASTER for its Hong Kong-based concept store,M CONZEPT.The online shopping platforms not only allowed the Group to sell out-of-season products at discounts as well as the products specifically designed for online sales,but also enabled it to proactively conduct pr

69、omotional campaigns and to maintain customer relationships,namely by notifying its customer club members of its latest offerings and promotional activities through their mobile phones.It also continued to conduct short-term cooperation with an online shopping website operator,OnTheList,which special

70、izes in flash sales to boost sales during the Year.As part of its sales and marketing efforts,the Group also hosted fashion shows or other marketing campaigns at its retail stores as well as at certain restaurants to strengthen its relationships with existing customers,especially the VIP members of

71、the Groups customer club,and attract new ones.As at 31 March 2025,the Group operated 7 MOISELLE,2 m.d.m.s.,2 LANCASTER and 2 M CONZEPT retail stores as well as one outlet in the city(As at 31 March 2024,the Group operated 6 MOISELLE,2 m.d.m.s.,2 LANCASTER and 2 M CONZEPT retail stores as well as one

72、 outlet).Operations in Mainland ChinaRevenue from the Groups operations in Mainland China dropped by 20%to HK$25,012,000 during the Year,at a faster pace than the year-on-year decrease of 10%in the first half of the Year.It was because the sluggish economy,high interest rate,ongoing property sector

73、crisis,bleak employment and business prospects and escalating US-China trade war took their toll on the consumer confidence.Moreover,the irrepressibly high rents for certain shop spaces which resulted from leading fashion brands competition for prime locations also contributed to the decrease.The Gr

74、oup closed certain retail outlets at high-rent shop spaces,namely one in Shanghai,one in Wenzhou and one in Nanjing during the Year.However,it also opened two new stores in Shenzhen and one new store in Wenzhou during the Year.The moves were in line with the Groups store network rationalization driv

75、e to cope with the countrys highly competitive fashion apparel market and volatile,complicated business environment.The Group pursued the strategy of keeping its store network to an optimal minimum by basically maintaining one store in each of the Mainland Chinese cities where it operates.To raise i

76、ts brand awareness,the Group held fashion shows at its stores in the country and sponsored some artistes who modelled MOISELLEs products on social media.13To capitalize on the growing trend of electronic commerce in Mainland China,the Group continued to develop its electronic commerce business throu

77、gh its separate alliances with four local electronic commerce website operators,namely CloudHappy Mall,Vipshop,Tmall and JD.com,Inc.As at 31 March 2025,the Group operated 11 MOISELLE retail stores in the country(As at 31 March 2024:12 MOISELLE retail stores).Operations in MacauFor the Year,turnover

78、at the Groups operations in Macau fell by 15%to HK$9,689,000 because its business was affected by the decreased buying power of the Mainland Chinese tourists as well as the relocation of its LANCASTER retail store at The Venetian Macao,a hotel and casino resort in the city.As at 31 March 2025,the Gr

79、oup operated three stores in the city,namely one MOISELLE and one LANCASTER retail stores at The Venetian Macao,and one MOISELLE retail store at The Parisian Macao(As at 31 March 2024,the Group operated three stores in the city,namely one MOISELLE and one LANCASTER retail stores at The Venetian Maca

80、o,and one MOISELLE retail store at The Parisian Macao).Operations in TaiwanRevenue from the Groups operations in Taiwan dropped by 35%to approximately HK$7,016,000,which accounted for about 7%of the Groups turnover for the Year.The decrease was due to the closure of a store and the curtailing of bot

81、h marketing campaigns and investment in brand building.The Group operated 3 MOISELLE retail stores there as at 31 March 2025(As at 31 March 2024:3 MOISELLE and one LANCASTER retail stores).FINANCIAL REVIEWOverviewThe Groups turnover decreased by approximately 25%to approximately HK$102,722,000(2024:

82、HK$137,311,000)during the year ended 31 March 2025 as compared with 2024.The revenue earned from Hong Kong segment decreased by approximately 27%to approximately HK$61,005,000(2024:HK$83,913,000).The sluggish local economy with conservative consumer sentiment over the retail market had contributed t

83、o decrease in revenue of the segment.The segment contributed to 59%(2024:61%)of the Groups total revenue.The revenue of the segment outside Hong Kong decreased by approximately 22%to approximately HK$41,717,000(2024:HK$53,398,000)during the year ended 31 March 2025 mainly due to deteriorated perform

84、ance in the Mainland China and Taiwan with challenges encountered in newly established locations of retail stores.The segment contribution decreased to 41%(2024:39%)as a result.14During the year,the Groups gross profit margin was approximately 80.1%,as compared to 80.5%of the previous year.Gross pro

85、fit margin has maintained with less reliance on businesses from discounted sales and fewer promotion activities during the financial year.Operating expenses for the year ended 31 March 2025 totalled approximately HK$133,443,000,compared to approximately HK$141,421,000 for 2024,decreased by approxima

86、tely 6%.Although the management had continued to conduct various measures in stringent cost management to counteract high operating expenses,mainly staff costs and rental expenses,the Group suffered an operating loss of HK$45,811,000(2024:HK$29,286,000).The loss attributable to the equity shareholde

87、rs for the year ended 31 March 2025 was approximately HK$56,546,000(2024:HK$48,100,000),increased in line with the increase in operating loss with lower impact from the loss on changes in fair value of investment properties.Liquidity and financial resourcesDuring the year ended 31 March 2025,the Gro

88、up financed its operations with internally generated cash flows and bank borrowings.The Group adopts a prudent financial policy such that it can meet the financial obligations when they fall due and maintain a sufficient operating fund for the development of the Groups business.At the end of the fin

89、ancial year,the Groups aggregate fixed deposits and cash balances amounted to approximately HK$5 million(2024:HK$24 million).Cash and bank deposits were held mainly in Hong Kong dollars and Renminbi.The Group has foreign operations and certain of its net assets are exposed to the risk of foreign cur

90、rency exchange rate fluctuations.The management regularly monitors the foreign currency exchange risk of the Group and may consider hedging activities when necessary.As at 31 March 2025,the Group was granted aggregate composite banking facilities of approximately HK$86 million(2024:HK$73 million)by

91、various commercial banks.Within the overall banking facilities,the Group secured bank borrowings of HK$67 million(2024:51 million)at operating subsidiary level financing its working capital as at 31 March 2025.The Group was also benefited from the utilisation of banking facilities HK$2 million(2024:

92、HK$6 million)such as bank guarantee as at 31 March 2025.The Group ran into net current liabilities of HK$67 million as at the year end(2024:HK$24 million),with current assets being less than current liabilities.As at 31 March 2025,the gearing ratio(aggregate of bank borrowings and lease liabilities

93、divided by shareholders equity)was approximately 31.1%(2024:23.5%).Charge on assetsAs at 31 March 2025,land and buildings held for own use and investment properties with a carrying value of approximately HK$116 million(31 March 2024:HK$111 million)were pledged to secure bank borrowings granted to th

94、e Group.15OUTLOOKWeak economy and trade war have cast uncertainty over the prospect of the fashion apparel market.The business environment will remain difficult.Therefore,the Group will maintain its prudent approach to business development and use its resources efficiently while trying to strengthen

95、 its existing customer base and to reach out to more prospective customers.The Group will step up its efforts to leverage social media to conduct marketing campaigns,keeping existing and prospective customers interested in its latest stylish products through engrossing themes and stories.It will als

96、o continue to sponsor some artistes who will model MOISELLEs products on social media.Such moves will allow the Group to tap into the popularity of fan economy and electronic commerce.At its retail stores,the Group will keep on enhancing its distinctive brand image by updating product display and in

97、terior decoration at all its retail outlets in various geographical markets regularly in a uniform manner according to the themes of its latest products.Such online and offline efforts will enable the Group to enhance customer loyalty and attract new customers.Furthermore,it will also seek to furthe

98、r enhance its operational efficiency by raising the level of automation of apparel processing.All these measures,together with the Groups business strategies that it had already set more than five years ago for coping with the fundamental changes in the fashion apparel industry,are aimed at enhancin

99、g its competitive strength and adaptability to the changes in the market.The Group will monitor closely the economic conditions and fashion trends in the markets and may adjust the above plans accordingly.EMPLOYEESAs at 31 March 2025,the Group employed 271(2024:302)employees mainly in Hong Kong and

100、Mainland China.Salaries of employees are maintained at competitive levels while bonuses are granted on a discretionary basis.Other employee benefits include mandatory provident fund,statutory and medical insurance cover and training programmes.PURCHASE,SALE OR REDEMPTION OF THE COMPANYS LISTED SECUR

101、ITIESThere were no purchases,sales or redemptions of the Companys listed securities by the Company or any of its subsidiaries during the year ended 31 March 2025.16CORPORATE GOVERNANCE CODESave for the deviation of the Code Provision C.2.1 as below,the Company has complied with the code provisions l

102、isted in the Corporate Governance Code(the“CG Code”)as set out in Appendix 14 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited throughout the year ended 31 March 2025.Code Provision C.2.1Under Code Provision C.2.1 of the CG Code,the roles of chairman and ch

103、ief executive officer should be separated and should not be performed by the same individual.Currently,Mr.Chan Yum Kit is the chairman of the Board and also assumes the role of the chief executive officer.The Board considers that the current management structure ensures consistent leadership and opt

104、imal efficiency for the operation of the Company.The Company will however keep this matter under review.REVIEW OF FINANCIAL INFORMATIONThe audit committee of the Company has reviewed with the management the accounting principles and practices adopted by the Group and the consolidated financial state

105、ments of the Group for the year ended 31 March 2025.The audit committee comprises three independent non-executive directors of the Company,Ms.Yu Yuk Ying,Vivian,Mr.Chu Chun Kit,Sidney and Ms.Wong Shuk Ying,Helen.SCOPE OF WORK OF BAKER TILLY HONG KONG LIMITEDThe figures in respect of the Groups conso

106、lidated statement of financial position,consolidated statement of profit or loss and other comprehensive income and the related notes thereto for the year ended 31 March 2025 as set out in the preliminary announcement have been agreed by the Groups auditor,Baker Tilly Hong Kong Limited,to the amount

107、s set out in the Groups audited consolidated financial statements for the year.The work performed by Baker Tilly Hong Kong Limited in this respect did not constitute an assurance engagement and consequently no opinion or assurance conclusion has been expressed by Baker Tilly Hong Kong Limited on the

108、 preliminary announcement.By Order of the Board ofMoiselle International Holdings LimitedChan Yum KitChairmanHong Kong,30 June 2025As at the date of this announcement,the Companys executive directors are Mr.Chan Yum Kit,Ms.Tsui How Kiu,Shirley and Mr.Chan Sze Chun,and independent non-executive directors are Ms.Yu Yuk Ying,Vivian,Mr.Chu Chun Kit,Sidney,Ms.Wong Shuk Ying,Helen and Dr.Ng Lai Man,Carmen.