(Incorporated in Bermuda with limited liability 於百慕達註冊成立之有限公司)Interim Report 2022中期報告(Stock Code 目錄CONTENTSGIORDANO INTERNATIONAL LIMITEDINTERIM REPORT 2022 中 期 報 告佐丹奴國際有限公司財務摘要 Financial Highlights2管理層之論述及分析 Management Discussion and Analysis 3中期財務資料的審閱報告 Report on Review of Interim Financial Information19合併利潤表 Consolidated Income Statement21合併綜合收益表 Consolidated Statement of Comprehensive Income22合併資產負債表 Consolidated Balance Sheet 23合併權益變動表 Consolidated Statement of Changes in Equity25合併現金流量表 Consolidated Cash Flow Statement27未經審核簡明合併 中期財務報表附註 Notes to the Unaudited Condensed Consolidated Interim Financial Statements 29其他資料 Other Information 59公司資料 Corporate Information71 GIORDANO INTERNATIONAL LIMITED財務摘要FINANCIAL HIGHLIGHTSINTERIM REPORT 2022 中 期 報 告佐丹奴國際有限公司2所有Heading如要隔空行，請將空行的段後取消。（除每股盈利外， 以百萬港元為單位）(In HK$ million, except earnings per share)（未經審核）(Unaudited)截至6月30日止六個月Six months ended June 30變動Change 20222021 經營業績OPERATING RESULTS銷售額Sales 1,877 1,681 11.7% 經營溢利Operating profit 166 94 76.6% EBITDAEBITDA 419 393 6.6% 本公司股東應佔溢利Profit attributable to shareholders of the Company 97 60 61.7% 每股資料PER SHARE DATA每股盈利Earnings per share－基本（港仙）– Basic (HK cents) 6.1 3.8 60.5% －攤薄（港仙）– Diluted (HK cents) 6.1 3.8 60.5% 每股中期股息（港仙）Interim dividend per share (HK cents)8.5 6.5 30.8%財務比率FINANCIAL RATIOS存貨對成本流轉日數（日）Inventory turnover on costs (days) 116 124 (8)本公司股東應佔溢利 （佔銷售額百分比）Profit attributable to shareholders of the Company (% to sales) 5.2% 3.6% 1.6pp/百分點 管理層之論述及分析MANAGEMENT DISCUSSION AND ANALYSIS GIORDANO INTERNATIONAL LIMITEDINTERIM REPORT 2022 中 期 報 告佐丹奴國際有限公司3MANAGEMENT DISCUSSION AND ANALYSIS OF GROUP RESULTS OF OPERATIONS AND FINANCIAL POSITIONThe following commentaries refer to the year-on-year (YOY) comparison of the Group for the six months ended June 30, 2022, and 2021, unless otherwise stated.OVERVIEW• Group sales increased by 11.7% to HK$1,877 million (2021: HK$1,681 million). Due to protracted Covid-19 lockdowns in 2021, the sales recovery was especially notable in Southeast Asia and the Gulf Cooperation Council, where the comparable base was lower. The right products and effective local marketing campaigns helped them maximize sales after the lockdowns.• Gross margin declined by 1.9 points to 55.1% (2021: 57.0%) as the lower margin, but profitable wholesales surged during the period by 44.9%.• Operating expense decreased by 1.9%, to 47.6% of sales (2021: 54.1%) indicating a gain in efficiency.• Net profit attributable to the Company’s shareholders was HK$97 million (2021: HK$60 million) on higher sales and reduced operating expense, partially offset by lower gross margin and less Covid-19-related government subsidies.• Inventory turnover on cost decreased by eight days to 116 days, reflecting general sales recovery and restrained purchase, even though group inventory closed higher at HK$541 million (2021: HK$494 million).• The cash and bank balances on June 30, 2022, net of bank loans, were HK$910 million (2021: HK$932 million). The modest decline resulted from a rise in inventory, which continues to deplete.• Basic earnings per share were 6.1 HK cents (2021: 3.8 HK cents).• The Board of Directors has declared an interim dividend of 8.5 HK cents per share (2021: 6.5 HK cents per share).管理層對本集團經營業績及財務狀況之論述及分析除非另行說明，以下論述均指本集團截至2022年及2021年6月30日止六個月之按年比較。概覽• 集團銷售額上升11.7%至18.77億港元（2021年：16.81億港元）。由於2021年長期因2019新型冠狀病毒封城而導致可比基數較低，在東南亞和海灣阿拉伯國家合作委員會的銷售復甦尤其顯著。恰當的產品和有效的本地營銷活動幫助該些地區在封城後最大限度地提高銷售額。• 毛利率下降1.9個百分點至55.1%（2021年：57.0%），由於毛利率較低，但盈利的批發在此期間飆升44.9%。• 經營費用下降1.9%佔銷售額的47.6%（2021年：54.1%)，表明效率有所提升。• 本公司股東應佔除所得稅後溢利為9,700萬港元（2021年：6,000萬港元），原因是銷售額增加和經營費用減少，但部分被毛利率下降和與2019新型冠狀病毒相關的政府補貼減少所抵消。• 儘管集團存貨餘額高達5.41億港元（2021年：4.94億港元），存貨對成本流轉日數下降8日至116日，反映整體銷售額回升及控制採購。• 於2022年6月30日，扣除銀行貸款後的現金及銀行結存為9.10億港元（2021年：9.32億港元）。小幅度下降是由於存貨增加而該存貨正持續消耗。• 每股基本盈利為6.1港 仙（2021年：3.8港仙）。• 董事會已宣派中期股息為每股8.5港仙（2021年：每股6.5港仙）。 GIORDANO INTERNATIONAL LIMITEDINTERIM REPORT 2022 中 期 報 告佐丹奴國際有限公司4所有Heading如要隔空行，請將空行的段後取消。管理層之論述及分析（續）MANAGEMENT DISCUSSION AND ANALYSIS (continued)經營業績表1：本集團經營業績截至6月30日止六個月Six months ended June 30 （以百萬港元為單位）(In HK$ million)佔銷售額百分比佔銷售額百分比變動2022% to sales2021% to salesChange 東南亞及澳洲Southeast Asia and Australia69637.1%53131.6%31.1%中國大陸Mainland China33317.8%36221.5%(8.0%)海灣阿拉伯國家合作委員會Gulf Cooperation Council32717.4%25815.4%26.7%台灣Taiwan21811.6%23514.0%(7.2%)香港和澳門Hong Kong and Macau1327.0%17710.5%(25.4%)對海外加盟商之批發Wholesales to overseas franchisees1719.1%1187.0%44.9% 本集團銷售額1Group sales11,877100.0%1,681100.0%11.7%毛利Gross profit1,03555.1%95957.0%7.9%其他收入及收益，淨額Other income and gains, net231.2%472.8%(51.1%)經營費用Operating expense(893)(47.6%)(910)(54.1%)1.9%使用權資產與物業、 機器及設備之減值Impairment loss on right-of-use assets and property, plant and equipment––(10)(0.6%)100.0%使用權資產與物業、 機器及設備之減值撥回Reversal of impairment loss on right-of-use assets and property, plant and equipment10.1%80.5%(87.5%) 經營溢利Operating profit1668.8%945.6%76.6%應佔一間合營公司溢利Share of profit of a