Sincere Watch (Hong Kong) (00444) said it reported a net loss of HK$143 million for the year ended 31 March 2016, as compared to the net profit of HK$40.23 million for the previous financial year.
Basic and diluted loss per share was HK3.48 cents.
The turnover was HK$303 million, a decrease of 48.6% from a year earlier.
Gross profit dropped 68.5% year-on-year to HK$71.14 million. Gross margin decreased from 38.3% to 23.4%.
No final dividend will be distributed.
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