Media OutReach
Daphne Announces 2024 Annual Results Revenue and Profit Attributable to Shareholders up 23% and 71% Respectively
Dividend Payout Ratio was Approximately 35%
|
(RMB’ million) |
For the year ended 31 December | ||
| 2024 | 2023 | Change (%) | |
| Revenue | 322.3 | 262.6 | +23% |
| Operating profit | 96.6 | 67.6 | +43% |
| Profit attributable to shareholders | 106.6 | 62.4 | +71% |
| Basic earnings per share (RMB) | 0.054 | 0.034 | +59% |
| Final dividend per share (HKD) | 0.02 | 0.01 | +100% |
HONG KONG SAR – Media OutReach Newswire – 26 March 2025 – A renowned ladies’ footwear brand group in China – Daphne International Holdings Limited (“Daphne” or the “Group”, stock code: 210), today announced its annual results for the year ended 31 December 2024 (the “Year”).
In 2024, in the face of tepid consumer spending and insufficient domestic demand, the Group remained committed to refining its tried-and-true strategies to bolster its market position, demonstrating strong resilience through remarkable operational performance and strong annual results. Both revenue and operating profit experienced significant growth, providing a competitive edge over the broader market and highlighting the Group’s capability to navigate challenging times. For the Year, the Group’s total revenue increased 23% year-on-year, amounting to approximately RMB322.3 million. Operating profit surged 43% to approximately RMB96.6 million and profit attributable to shareholders significantly increased by 71% to approximately RMB106.6 million, positioning it for sustainable growth ahead. Basic earnings per share was RMB0.054. The Board of Directors recommended the payment of a final dividend of HK$0.02 per share for the Year. The dividend payout ratio was approximately 35%.
Commenting on the annual results, Mr. Chang Chih-Chiao, Daphne‘s Chief Executive Officer, said, “In 2024, in response to cautious consumer sentiment and the diversification of e-commerce channels, the Group continued to leverage its advantages as an industry leader to bolster its presence across both traditional e-commerce platforms and social media while strategically positioning itself within emerging e-commerce platforms. Drawing on its established competitive advantages and proven strategies, the Group’s business sustained healthy growth. Alongside these efforts, the Group consistently optimised its offline distribution channels, supply chain, and brand strategies, resulting in robust sales growth for the dual-brand portfolio (‘DAPHNE’ and ‘DAPHNE.LAB’) that exceeds the industry average.”
“DAPHNE”
In 2024, the Group strives to better serve the diverse needs of consumers, “DAPHNE” launched a brand rejuvenation initiative that has achieved remarkable success, with annual sales performance exceeding the Group’s expectations. In September 2024, “DAPHNE” officially announced a new brand ambassador and launched a brand new offline physical store design, making a bold return to the ladies’ footwear market with a refreshed image. This endorsement not only deepens the emotional resonance between the “DAPHNE” brand and contemporary women but also inspires every woman to bravely be herself and walk with confidence. This revitalisation was complemented by the launch of the original “CloudSoft” collection, characterised by its comfort, lightweight design, and functionality, reflecting the brand’s poised yet effortless aesthetic. Additionally, the brand’s new product categories, including children’s shoes and handbags, have shown promising initial results. With these new ventures on track, the “DAPHNE” brand sees significant potential for future growth.
Furthermore, the Group continues to actively bolster its footprint in the e-commerce arena. While maintaining a leading advantage on traditional e-commerce platforms such as “Tmall”, “VIP.com”, and “JD.com”, the Group has also kept investing in emerging platforms like “Douyin” and “Pinduoduo”, achieving higher-than-expected growth and significant results, establishing itself as a top player on these platforms. To further bolster growth, the Group explored innovative sales channels that leverage social media attributes such as “Douyin”, “RedNote” and “DEWU.com”. This strategy not only attracted younger demographics but also generated positive brand exposure among key consumer segments. In addition, “DAPHNE” products are competitively priced and offer excellent value for money, greatly increasing their strong appeal across a wide range of consumers. Recognising the growing preference for value-for-money products, the Group has ramped up its marketing efforts to foster deeper interactions with customers, successfully establishing a strong brand presence on high-traffic online platforms to drive long-term growth. Despite overall market challenges, the Group’s commitment to its brand strategy has once again translated to tangible results.
“DAPHNE.LAB”
The avant-garde brand “DAPHNE.LAB” celebrated its first anniversary with widespread market recognition for its originality and bold, innovative spirit. “DAPHNE.LAB” has brought the “Dare To Be” brand ethos to life through striking designs and creative marketing campaigns, successfully capturing the hearts of young consumers. Leveraging on its product quality, competitive pricing and unique designs, “DAPHNE.LAB” has cultivated a devoted customer base and achieved satisfactory sales performance, particularly in the e-commerce sector.
During the Year, the Group continued to partner with renowned artists and designers to develop innovative collections. In May 2024, “DAPHNE.LAB” launched the co-branded “Quirky Romantic Collection” with an artist, which was met with enthusiastic response. “DAPHNE.LAB” joined creative forces with a prominent Chinese designer in September 2024 to launch “Dare To Break Rules” collection and made its debut on the official Paris Fashion Week runway, bringing Chinese design to the world stage and garnering significant attention from both domestic and international media. These successful collaborations underscore the Group’s unwavering commitment to fostering original design and its ambition to carve out a significant presence globally. In addition, the Group actively partnered with social media influencers to enhance customer interaction, resulting in an increase in sales. The Group has also expanded market reach by launching “DAPHNE.LAB” online stores and directly-managed stores. In November 2024, it opened a “DAPHNE.LAB” pop-up store in a youth-oriented, non-traditional shopping mall in Chengdu, which has shown better space efficiency than in typical shopping malls. The pop-up store successfully captured the young consumer demographic that resonates with the Group’s products, fostering stronger connections with its target audience.
In light of the growing sales, the Group kept injecting marketing resources to further optimise its supply chain, ensuring stringent quality control from production to retail, striving to be more refined and precise. During the Year, the Group digitised its workflows, and unified and integrated its large-scale transportation processes, resulting in significant improvements in both efficiency and quality control. These advancements have created a more robust and mature supply chain, enabling the Group to continuously expand its product categories to meet evolving consumer demands while maintaining high standards of quality and service.
Outlook
Despite encountering a range of external pressures, China’s long-term potential growth remains robust, bolstered by government initiatives aimed at stimulating economic growth through increased consumer spending and expanded domestic demand. While consumer sentiment remains cautious and price-sensitive, the Group holds a conservative yet optimistic view of the domestic economic outlook for 2025.
Looking ahead to 2025, Mr. Chang Chih-Chiao, Chief Executive Officer, said, “To address this cautious and conservative consumer sentiment, the Group will closely monitor policy directions and market trends, making timely adjustments to strategies in product design, category expansion, production techniques, supply chain, and sales channels for greater flexibility in order to cater to consumers who prioritise value and quality. To stay attuned to market demand, the Group will allocate more marketing resources to support the ‘DAPHNE’ brand’s development, including the launch of the Spring 2025 ‘Sweet Dreams’ collection products, alongside the introduction of a new brand ambassador to elevate its appeal. Building on initial successful expansions into new categories such as children’s shoes and handbags, ‘DAPHNE’ will diversify its product offerings while remaining receptive to further growth opportunities. Meanwhile, ‘DAPHNE.LAB’ aims for ambitious sales growth by focusing on developing fashionable, high-quality footwear with unique designs. ‘DAPHNE.LAB’ will also actively seek more collaborative opportunities to expand its reach, particularly among high-spending younger generations. Furthermore, the Group will maintain its focus on e-commerce channels to capitalise on the vibrant online retail market. In the face of the challenging consumer environment, the Group is confident that its years of industry experience and strong brand awareness, combined with efforts to enhance its operations and adaptability, will enable it to stand out and maintain a favourable position in the market to provide high-quality products to consumers and create better returns for the shareholders of the Company and investors.”
Hashtag: #Daphne
The issuer is solely responsible for the content of this announcement.
About Daphne
Daphne is a renowned ladies’ footwear brand group in China which primarily engaged in the brand licensing, distribution and sale of footwear products and accessories in Mainland China. The Group currently boasts two major brands, among which the core brand “Daphne” has become a leading mass-market ladies’ footwear brand in Mainland China. The innovative brand “DAPHNE.LAB”, launched in 2023, garnered favorable market response upon the debut of its unique designed original collections.
Local Public Universities: Affordable and Prestigious
Singapore’s autonomous universities remain among the most cost-effective options for Singapore citizens, thanks to the Ministry of Education’s Tuition Grant. For example, undergraduate programs at NUS and NTU cost around S$8,250 per year for Singaporeans, while SMU averages S$11,500 annually. Other institutions such as SUTD, SUSS and SIT fall within similar ranges, typically between S$8,000 and S$13,500 per year. Over a three- to four-year degree, this translates to roughly S$25,000 to $54,000 in tuition fees.
The autonomous universities offer strong reputations and excellent graduate outcomes, but entry to some programme is highly competitive, and program flexibility may be limited compared to private or overseas options.
Overseas Universities: Prestige Comes at a Price
For families considering an overseas education, costs escalate dramatically. Tuition at U.S. private universities averages US$50,000 to US$60,000 per year (about S$70,000 to S$84,000), with living expenses adding another US$10,000 to US$15,000 annually. In the UK, fees range from £10,000 to £38,000 per year (approximately S$17,000 to $65,000), while Canada and Australia typically charge S$14,000 to $28,000 for tuition alone. Factoring in accommodation, travel, and insurance, a four-year overseas degree can easily exceed S$150,000.
While these programs offer prestige and cultural immersion, they also involve significant financial, visa, and lifestyle considerations.
SIM Global Education: International Degrees at Local Cost
SIM offers a compelling alternative for students seeking global credentials without the high cost of studying abroad. Through partnerships with leading universities from the UK, Australia, the U.S., Canada, and Europe, SIM delivers more than 140 programs in Singapore, allowing students to earn internationally recognized degrees, essentially the same degree if you studied overseas, but locally at SIM. Tuition fees vary by program, for example, a University of London BSc ranges from S$26,685 to S$42,835, a University of Birmingham top-up degree costs S$42,000 to S$57,100, and a degree from the University at Buffalo falls between S$41,700 and S$74,600 for Singaporeans.
Beyond competitive pricing, SIM emphasizes value. Degrees are awarded by partner universities and aligned with global academic standards. The institution holds EduTrust Star certification and ISO accreditation, ensuring the best quality assurance. Students benefit from bond-free scholarships and bursaries, as well as Career Connect services that provide internships, mentoring, and employer networking. Graduate outcomes are strong, with nearly 80% of SIM graduates securing employment within six months of graduation.
Why Value Matters as Much as Cost
Choosing a degree isn’t just about tuition fees, it’s about the total investment, which includes living costs, global recognition, and career outcomes. Local autonomous universities such as NUS, NTU, and SMU remain highly attractive for their subsidized fees and strong reputations, making them one of the most cost-effective options for Singaporeans. However, entry is competitive, and program flexibility may be limited.
On the other end of the spectrum, overseas universities offer prestige and cultural immersion but often come with six-figure costs and additional living expenses. This is where SIM provides a strategic middle ground, delivering internationally recognized degrees from leading global universities at local cost. Students gain access to global curricula, industry-ready skills, and career networks without the financial burden of relocating overseas. For families seeking international exposure at sustainable costs, SIM combines affordability with the value of global education
References:
- NUS Fees for Undergraduate Programmes – https://www.nus.edu.sg/registrar/docs/info/administrative-policies-procedures/ugtuitioncurrent.pdf
- NTU Fees for Undergraduate Programmes – https://www.ntu.edu.sg/docs/default-source/onestop@sac/2025/tuition-fees-ft-ay2025_12mar25.pdf?sfvrsn=b8c5474_1
- SMU Fees for Undergraduate Programmes – https://admissions.smu.edu.sg/financial-matters/tuition-fees-grant
- SUTD Fees for Undergraduate Programmes – https://www.sutd.edu.sg/admissions/undergraduate/education-expenses/fees/tuition-fees/
- SUSS Fees for Undergraduate Programmes – https://www.suss.edu.sg/admissions/financial-matters/tuition-fee-subsidy/full-time-undergraduate
- SIT Fees from Undergraduate Programmes – https://www.suss.edu.sg/admissions/financial-matters/tuition-fee-subsidy/full-time-undergraduate
- Comparison of Tuition Fees in US, UK, Canada and Australia – https://uninist.com/blog/financial-planning/comparison-of-tuition-fees-guide
- How much does college cost in 2025 – https://research.com/universities-colleges/how-much-does-college-cost
- Price of attending undergraduate institutions – https://nces.ed.gov/programs/coe/indicator/cua
- University of London Bachelor Degree – https://www.sim.edu.sg/degrees-diplomas/programmes/programme-listing?academic=2%7C&programmetype=1%7C3&university=1%7C
- University of Brimingham Bachelor Degree – https://www.sim.edu.sg/degrees-diplomas/programmes/programme-listing?academic=2%7C&programmetype=1%7C3&university=10%7C
Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills
The issuer is solely responsible for the content of this announcement.
About SIM Global Education
SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.
SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.
For more information on SIM Global Education, visit sim.edu.sg
Media OutReach
A-Level vs Polytechnic: Understanding different pathways offer competitive edge at SIM
Conversely, Polytechnic programmes emphasize applied learning, incorporating projects and industry attachments, and culminate in a diploma after three years. Understanding how these distinct approaches translate into admission considerations at SIM, one of Singapore’s leading private education institutions, is essential.
For students and parents, evaluating these options is critical to determining which pathway offers the greatest advantage in today’s competitive education landscape.
Applying with A-Levels
For students who have completed A-Levels, SIM requires applicants to meet the academic and English language criteria specified for each degree programme. According to SIM’s admissions process, candidates must submit their GCE A-Level certificates and transcripts along with other supporting documents. Entry is subject to programme-specific requirements set by SIM and its universities partner from Australia, Canada, Europe, the United Kingdom, and the United States. This pathway allows applicants to begin their degree studies immediately after junior college, provided they meet the specific entry requirements for their chosen programme.
Applying with a Polytechnic Diploma
Polytechnic graduates may be eligible for advanced standing and credit exemptions when applying to SIM’s degree programmes. The amount of exemption depends on the relevance of the diploma and the chosen degree. For example, IT-related diplomas from local polytechnics can receive up to two years of credit exemptions for certain programmes, such as those offered by the University of Wollongong, provided the applicant meets GPA requirements (typically 2.0 or above). Other diplomas may receive partial exemptions on a case-by-case basis. These exemptions reduce both time and cost, making SIM an attractive option for Polytechnic graduates who want to build on their applied learning experience.
Why It Matters
According to the Ministry of Education (MOE) statistics in 2021, roughly one in three Polytechnic graduates progress to local autonomous universities, compared to about four in five A‑Level and International Baccalaureate graduates. This gap underscores the importance of additional pathways such as SIM, which enable Polytechnic graduates to earn globally recognised degrees and expand their career prospects.
Student Stories: Two Potential Paths to Success at SIM
At SIM, students have the flexibility to shape their academic journey based on their background and career goals. For some, it’s about gaining a head start; for others, it’s about leveraging credit exemptions to fast-track progress. Ashley Ong and Violet Weng exemplify these two pathways, each leading to success in its own way.
Ashley Ong, an A-Level graduate, chose to begin her degree journey with the University at Buffalo Bachelor of Science in Business Administration. She embraced every opportunity SIM offered such as internships, hackathons, and networking events, building practical skills and global perspectives that prepared her for a competitive business world.
Meanwhile, Violet Weng, a Singapore Polytechnic graduate, opted for a different approach. While pursuing her RMIT Bachelor of Business (Economics and Finance), Violet leveraged SIM’s credit exemptions to shorten her study duration and reduce costs, all while working full-time. This flexibility allowed her to balance work and study, accelerate graduation, and advance her career without compromise.
Both stories highlight SIM’s commitment to offering customized pathways for students whether you’re starting fresh or building on prior learning.
Conclusion
Whether you come from an academic route like A-Levels or an applied learning path through Polytechnic, the journey to a degree can look very different. A-Level graduates often enjoy a head start with direct entry, while Polytechnic graduates benefit from credit exemptions that recognize their practical skills. Both pathways reflect Singapore’s evolving education landscape where flexibility and global opportunities matter more than ever.
References:
- MOE Post-Secondary – https://www.moe.gov.sg/post-secondary/
- SIM Application Process – https://www.sim.edu.sg/degrees-diplomas/admissions/application-process
- SIM-UOW Credit Exemption Table – https://www.sim.edu.sg/getmedia/9c0ad90d-5910-4d47-b044-f815188a4b16/sim002856.pdf
- MOE Education Statistics Digest – https://www.moe.gov.sg/about-us/publications/education-statistics-digest
- Polytechnic graduates progression and subsidies for PEIs – https://www.moe.gov.sg/news/parliamentary-replies/20210510-polytechnic-graduates-progression-and-subsidies-for-peis
- askST: How many uni places are there for Singaporeans? Is there a quota for poly grads? – https://www.straitstimes.com/singapore/how-many-uni-places-for-locals-any-quota-for-poly-grads
- How 6 internships, 4 hackathons, and CCAs paved the way for Ashley – https://www.sim.edu.sg/articles-inspirations/how-6-internships-4-hackathons-and-ccas-paved-the-way-for-ashley
- How this graduate pivoted her career by pursuing a degree while working full time – https://www.sim.edu.sg/articles-inspirations/how-this-graduate-pivoted-her-career-by-pursuing-a-degree-while-working-full-time
Hashtag: #SIMGlobalEducation #SIMGE
The issuer is solely responsible for the content of this announcement.
About SIM Global Education
SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.
SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.
For more information on SIM Global Education, visit sim.edu.sg
Chairman Mr. Francis Lui Urges Public to Turn Compassion into Action and Vote 7 December
HONG KONG SAR – Wechat: 嘉华集团 K. Wah Group
https://www.youtube.com/@kwahgroup
The issuer is solely responsible for the content of this announcement.
About K. Wah Group
K. Wah Group was founded in 1955 by Dr. Lui Che Woo and has since grown into a diversified multinational corporation. Its core businesses span property development and investment, integrated resort and entertainment, hospitality, and construction materials.
The Group has a strong presence in Mainland China, Hong Kong, Macau, Southeast Asia, and key international markets. Its major subsidiaries include two Hong Kong-listed flagships: K. Wah International Holdings Limited (HKEX: 00173), focused on premium property development and investment; and Galaxy Entertainment Group Limited (HKEX: 00027), a constituent of the Hang Seng Index and a leading gaming and entertainment operator in Macau. Other key members of the Group include Stanford Hotels International and K. Wah Construction Materials Limited. Today, K. Wah Group comprises over 200 subsidiaries worldwide.
Website：
http://www.kwah.com
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