Citychamp Watch & Jewellery Group Limited released its 2025 audited results for the year ended 31 December 2025.
Revenue and Earnings • Revenue fell 21.50 % year-on-year to HK$1.05 billion, driven by a 37.63 % decline in non-banking goods sales. • Net loss attributable to owners narrowed 16.32 % to HK$212.60 million; group net loss after tax reduced to HK$239.94 million (2024: HK$281.65 million). • Loss per share was HK(4.89) cents, against HK(5.84) cents a year earlier.
Segment Performance • Watches, timepieces & accessories: Revenue HK$507.93 million (-37.63 %), segment loss HK$162.29 million; goodwill impairment of HK$125.41 million booked against Zhuhai Rossini. • Banking & financial services: Revenue rose 3.87 % to HK$519.14 million; segment profit HK$135.34 million, aided by 12.0 % growth in fee and commission income and 39.2 % rise in trading income. • Property investments: Rental revenue was broadly stable at HK$21.10 million; segment profit grew to HK$21.23 million after a HK$7.03 million fair-value gain on investment properties.
Margins and Costs • Gross profit from non-banking/financial businesses declined 42.50 % to HK$177.78 million. • Group selling & distribution and administrative expenses fell 17.54 % to HK$803.68 million, reflecting cost-control measures. • EBITDA improved to HK$58.51 million from HK$11.70 million in 2024.
Balance Sheet and Liquidity • Total assets increased 14.63 % to HK$20.60 billion, mainly from higher banking assets. • Cash and deposits stood at HK$4.08 billion, up 7.76 %. • Borrowings declined 10.89 % to HK$530.27 million; gearing ratio eased to 19.71 % (2024: 21.98 %). • Client deposits at subsidiary Bendura Bank rose 19.39 % to HK$14.73 billion.
Investment Portfolio • Financial assets at amortised cost expanded 49.00 % to HK$5.23 billion, primarily high-grade government and financial institution bonds with an average maturity of 2.15 years. • FVOCI equity portfolio increased to HK$340.32 million, driven by Min Xin Holdings (HK$292.47 million) and Citychamp Dartong (HK$42.27 million). Fair-value gains on these holdings totaled HK$126.21 million.
Other Key Items • Total comprehensive income swung to a gain of HK$294.13 million (2024: loss of HK$583.46 million), benefitting from HK$384.07 million currency translation gains. • No final dividend was declared for 2025, unchanged from the prior year. • Headcount declined to 2,215 from 2,965 reflecting restructuring; staff costs were curtailed accordingly.
Outlook Management will continue dual-drive strategy of “cultural empowerment and technological upgrading” for its watch brands, pursue further cost optimisation, and leverage Bendura Bank’s “two-hub” model (Liechtenstein/Europe and Hong Kong) amid anticipated lower global interest rates.
The board set the Annual General Meeting for 28 May 2026; share transfer registration will close 22–28 May 2026.