Financial Highlights

1 Adjusted EBITD represents earnings before interest, tax and depreciation charge on the self-owned flagship store, which reflects the Group’s core operating performance

HONG KONG, Mar 25, 2026 - (ACN Newswire) - Emperor Watch & Jewellery Limited (“Group” or “Emperor W&J”) (Stock code: 887), a leading retailer of European-made watches and jewellery products, announced its annual results for the year ended 31 December 2025 (“Year”).

During the Year, the Group delivered an encouraging performance amidst market uncertainties and challenges. The Group’s total revenue grew by 10.2% to HK$5,765 million (2024: HK$5,230 million). Revenue from Hong Kong increased by 13.3% to HK$3,313 million (2024: HK$2,923 million), accounting for 57.5% (2024: 55.9%) of the total revenue, and revenue from Chinese Mainland increased by 20.3% to HK$1,625 million (2024: HK$1,351 million), accounting for 28.2% (2024: 25.8%) of the total revenue. In terms of revenue by product segment, the revenue from the watch segment increased by 5.8% to HK$3,529 million (2024: HK$3,337 million), accounting for 61.2% (2024: 63.8%) of the total revenue, and the revenue from the jewellery segment increased by 18.1% to HK$2,236 million (2024: HK$1,893 million), accounting for 38.8% (2024: 36.2%) of the total revenue, with gold products accounting for 72.4% (2024: 72.4%) of the revenue from the jewellery segment.

The Group’s gross profit was up by 20.2% to HK$1,780 million (2024: HK$1,481 million) with an improved gross profit margin of 30.9% (2024: 28.3%). The Group’s net profit significantly increased by 67.7% to HK$431 million (2024: HK$257 million) during the Year. Basic earnings per share was HK6.34 cents (2024: HK3.79 cents). The Group has recommended the payment of a final dividend of HK1.14 cents (2024: HK0.45 cent) per share. Together with the interim dividend of HK0.55 cent (2024: HK0.65 cent) per share, the total dividends for the full year are HK1.69 cents (2024: HK1.10 cents) per share.

As at 31 December 2025, bank balances and cash on hand of the Group amounted to HK$1,610 million (2024: HK$950 million). Since the Group was in a net cash position, hence its net gearing ratio was zero (2024: zero).

During the Year, the Group successfully partnered with Mr. Chan Sai Cheong, an influential and highly respected jewellery industry veteran with over 40 years of experience, regarding strategic development of the Group’s jewellery business in Chinese Mainland. As at 31 December 2025, there were 11 jewellery stores in Chinese Mainland. The Group targets to open approximately 40 stores in Chinese Mainland in 2026 targeting the mid-market segment, with 50% in first-tier and new first-tier cities, and the remaining 50% in second-tier cities.

As at 31 December 2025, the Group had a total of 64 stores in Hong Kong, Macau, Chinese Mainland, Singapore and Malaysia. During the Year, in addition to the jewellery stores opened in Chinese Mainland, the Group opened three new jewellery stores in Hong Kong and Macau. Additionally, a Patek Philippe flagship store in Hong Kong, an IWC boutique in Macau, a Tudor boutique and a Rolex boutique were opened in Chinese Mainland, to further enhance the Group’s market presence.

In 2026, the Group plans to open a multi-storey Rolex boutique and a multi-brand watch store on Canton Road in Tsim Sha Tsui, one of the world’s prime shopping streets. These stores will further enhance the Group’s competitive edge in the luxury watch retail market and strengthen its market leading position.

Ms. Cindy Yeung, Chairperson of Emperor W&J, said, “Facing the volatile global economy with abundant challenges, the Group expects that consumers will tend to be cautious regarding overall spending. However, gold jewellery, as an alternative form of investment, will continue being well received by Chinese consumers. With the establishment of the strategic partnership with Mr. Chan, the Group will effectively expand its retail network footprint with diversified market segmentation strategies, thereby capturing a share of the enormous opportunities in the Chinese Mainland market.”

Ms. Yeung concluded, “The Group expects that the pace of recovery of the global luxury retail market, especially in the Chinese Mainland and Hong Kong, will be maintained. Free from the concerns of a potential earthquake and political tensions, Chinese consumers generally regard Hong Kong as the destination for luxury watch shopping. This is also supported by tourism stimulus measures such as high profile concerts and mega international events, which will attract more mid-to-high-end consumers to Hong Kong. The Group will continue enhancing its competitive edge and further expand its market presence, and strive to seize the opportunities.”

About Emperor Watch & Jewellery Limited

With long establishment history of over 80 years in Hong Kong since 1942, Emperor W&J (887.HK) is a leading retailer principally engages in the sale of European-made internationally renowned watches, and jewellery products under its own brand, “Emperor Jewellery”. Through its comprehensive watch dealership, unique marketing campaigns and extensive retail network at prime locations in Hong Kong, Macau, Chinese Mainland, Singapore and Malaysia, Emperor W&J established a strong brand image amongst its target customers ranging from middle to high income groups worldwide. In recognition of its efforts in investor relations communications, Emperor W&J was granted with “Best IR Company” (Small Cap), “Best IR Team” (Small Cap) and “Best Investor Presentation Material” (Small cap) in HKIRA Investor Relations Awards 2025 by the Hong Kong Investor Relations Association. For more information, please visit its website: www.EmperorWatchJewellery.com.

Investor/Media Enquiries

Anna Luk
Group Investor Relations Director
Tel: +852 2835 6783
Email: annaluk@emperorgroup.com

Janice Au
Group Investor Relations Manager
Tel: +852 2835 6799
Email: janiceau@emperorgroup.com

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