Yeungsaid the company has been working to manage down inventory in an attempt to improve gross margins during the slowdown and will continue cost-cutting actions.
"Luxury brands need a story to tell, " Sitoy Chief Executive Yeung Wo Fai said, adding that the company plans to buy another European brand after learning how to do the retail business.
The prosecution opened its case against Mr Yeung on Friday by pointing to huge amounts of money that it said had gone through the ex-hairdresser's bank accounts.
He said he had also been informed by the lawyers that Mr Yeung was assisting with inquiries that had nothing to do with BIHL in Hong Kong and therefore nothing to do with the operation of club.
Yeung was already the leading individual share holder and earlier this week his Grandtop International company said it had raised its stake in Birmingham.
"Steve is uncertain about his future at St Andrews amid rumours that if Yeung does complete his proposed takeover by Christmas he won't be there much longer, " said Radio 5live football reporter Pat Murphy.