Time Watch Investments Ltd.
HHKEX:20330.22
HKD
-0.01
(-4.72%)
Time Watch Investments Ltd.
HKEX:2033
(Hong Kong Exchange)
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0.22
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ROIC.AI
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- Business
- Time Watch Investments Limited is an investment holding company that manufactures, brands, wholesales, and retails watches primarily in the People's Republic of China. The company operates through three main segments: Tian Wang Watch Business, which designs, manufactures, wholesales to corporate customers, retails, and sells online Tian Wang branded watches targeting the mass market with over 60 new models launched annually priced from RMB160 to RMB39,880; Watch Movements Trading Business, which procures and trades watch movements to external manufacturers and distributors primarily in Hong Kong; and Other Brands (PRC) Business, which retails Balco Swiss-made watches for younger mid-income consumers, other well-known brands, and since July 1, 2024, supplies watches on Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) bases to corporate customers. It also provides marketing and consulting services, assembles watches, and engages in property investments. The company maintains an extensive retail network of approximately 1,573 directly managed points of sale for Tian Wang and 105 for other brands as of December 31, 2024, concentrated in second-, third-, and fourth-tier cities across all major regions of China, complemented by e-commerce on platforms like Tmall, JD.com, Vipshop, TikTok, and Dewu accounting for about 27% of revenue; it employs around 2,800 staff and holds significant liquid assets including bank balances, fixed deposits, and low-risk instruments. Founded in 1988 and headquartered in Kowloon, Hong Kong, Time Watch Investments Limited is a subsidiary of Red Glory Investments Limited and listed on the Hong Kong Stock Exchange (ticker: 2033.HK). Recent developments include a 10.3% revenue decline to HK$881.0 million for the fiscal year ended June 30, 2024, driven by slower economic recovery and closure of underperforming points of sale reducing Tian Wang outlets from 1,786 to 1,695, with further reduction to 1,573 by December 2024 amid weak consumer sentiment; a shift to loss-making performance with HK$10.9 million loss attributable to owners for the six months ended December 31, 2024 (versus profit of HK$11.5 million prior year), reflecting 20.6% revenue drop to HK$343.0 million due to employment pressures and trade frictions; strategic expansion into OEM/ODM watch supply outside Hong Kong, Macau, and China from July 2024 boosting Other Brands revenue by 26.3%; ongoing optimization of sales network and costs, including staff reductions; and sustained conservative treasury management with net cash position, gearing below 1.2%, and special/final dividends recommended for FY2024 at HK1.7 cents per share despite profitability pressures.