Tse Sui Lin earns 49.42 million in 13 months without dividends

TSL (00417) announced its annual results. As of the end of March this year, 13 months, net profit rose by 113% from the previous fiscal year (end of February 2017) to RMB 49.42 million, with no final dividend.

Hong Kong retail atmosphere is getting better

Chairman Xie Qiuyi pointed out that the retail market in Hong Kong and Macao has been warmer since September last year. The number of Mainland visitors to Hong Kong and Macao has increased significantly, and consumer sentiment has increased. This has driven the company’s net profit to grow. TSL’s sales of China-Hong Kong-Macau Australia same-store sales have risen from negative growth in the past year. The overall increase from negative 11.6% to 9.9%, with the main mainland retail store locations being shifted from department stores to malls, stimulating sales growth.

Xie Qiuyi believes that Hong Kong’s retail market is unlikely to return to its previous peak, but the sales atmosphere is gradually improving. She pointed out that the Group will diversify its development and is setting up more franchise stores and self-operated stores to play the roles of retailers and wholesalers. It is said that the group has opened 50 branches in the past year and is confident that it will complete 100 establishments in 2 years. The goal of retail stores.

Chief Strategy and Financial Officer Wu Ruqin emphasized that Tse Ruilin is actively developing e-commerce in the Mainland. The Group has opened sales points in e-commerce malls such as JD.com and Tmall. It also set up official websites in the Mainland to sell directly. It is currently preparing to establish a Hong Kong version of the homepage. The goal is to cooperate with each other online and offline to further stimulate sales.

Regarding the decline in gross profit, Xie Qiu An Yi explained that the decline was a healthy one, as the Group’s business is moving towards diversification, and the development of wholesale and wholesale sales will affect gross profit, but on the other hand it will increase the Group’s market share in the jewelry industry.

TSL’s stock price fell 1.7% yesterday to close at 2.26 yuan.