Political, Social, Regulatory and Foreign Exchange Risks Associated with Overseas Business Expansion
First written in FY2019. 3 of 4 entries say "Worsened", first in FY2020. Latest entry: FY2022.
The whole theme swung hardest in 2025: 72 of 117 companies on the "Worse" side.
- FY2022WorsenedAnnual report
「Because overseas partners operating purchasing stores overseas use the Group’s trade name, if negative information or rumors concerning a local partner’s store operations circulate, the Group’s performance and financial condition may be affected through a deterioration in its brand image.」
In addition to the existing political, social, regulatory and foreign exchange risks in each country, the risk of reputational damage and deterioration of the brand image associated with overseas partners’ store operations has been explicitly identified. - FY2021WorsenedAnnual report
「To expand its business, the group plans to continue expanding its group businesses overseas. If economic fluctuations, political or social unrest, changes in laws and regulations, significant foreign exchange fluctuations or other events occur in individual countries, they may affect the group's business performance.」
Exposure to economic conditions, political and social conditions, laws and regulations and foreign exchange fluctuations in each country continues as overseas stores, subsidiaries and partners expand. - FY2020WorsenedAnnual report
「The Company is currently expanding its overseas locations beyond Hong Kong to Europe and North America and Southeast Asia.」
The regions and locations covered by the overseas business have expanded from Hong Kong to Europe and North America and Southeast Asia, increasing exposure to economic conditions, political and social conditions, laws and regulations and foreign exchange fluctuations in each country. - FY2019First statedAnnual report
「If economic fluctuations, political or social unrest, changes in laws and regulations or significant foreign exchange fluctuations occur in any country, the Group’s performance may be affected.」
As overseas business expands, including in Hong Kong, the business impact of economic conditions, political and social conditions, laws and regulations and foreign exchange fluctuations in each country has been identified as a new risk.