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Citychamp Reports Decreased Mid-Year Profits
CITYCHAMP: ANNOUNCEMENT OF UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2024
A difficult Q2 report card for luxury goods: zero revenue growth, price increases and promotions together, with Hermès "holding up the roof".
Bank of America Merrill Lynch stated that the second-quarter weighted average income of the luxury goods industry recorded zero growth, the lowest in fifteen quarters, and also showed trends such as brand polarization, negative growth in hard luxury income, and deteriorating demand in the USA.
Citychamp Schedules Key Financial Review Meeting
Citychamp (00256.HK) plans to hold board of directors meeting on August 29th to approve mid-term performance.
Citychamp (00256.HK) announced that the board of directors meeting will be held on Thursday, August 29, 2024 at 11:00 am in Room 1902-04, 19/F, Tower 1, Lippo Centre, 89 Queensway, Hong Kong. The meeting will approve the interim performance of the company and its subsidiary companies for the six months ended June 30, 2024, as well as the consideration of interim dividends (if applicable).
Citychamp (00256.HK) obtained an increase in shareholding of 3 million shares by Executive Director Han Guo-long.
According to the latest equity disclosure information from the Hong Kong Stock Exchange, from July 25 to July 26, 2024, Citychamp Watch & Jewellery (00256.HK) was granted shareholding by Executive Director Han Guo-long, who acquired 3 million shares with an average price of HKD 0.97-0.994 per share, involving approximately HKD 2.958 million. After the shareholding increase, Han Guo-long's latest shareholding number is 3,038,529,515 shares, and the shareholding ratio has increased from 69.75% to 69.82%.
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