卡宾中期报告2023

ABOUT CABBEEN CABBEEN IS ONE OFTHE LEADING CHINESEDESIGNER BRANDS. The Group designs and sells apparels for men and women mainlyunder two brands, namely, Cabbeen and 2AM. Its retail networkcovers 31 provinces, autonomous regions and municipalities andseveral online platforms in the People’s Republic of China. 31 CONTENTS Corporate Information BOARD OF DIRECTORS Executive Directors Mr. Ziming Yang(Chairman)Mr. Siu Keung NgMr. Rongqin Ke Independent Non-Executive Directors Mr. Yung Kwok TsuiMr. Ming Shu LeungMs. Jing Gu(with effect from 27 April 2023)Mr. Honghui Chen(resigned on 28 April 2023) AUDIT COMMITTEE Mr. Yung Kwok Tsui(Chairman)Mr. Ming Shu LeungMs. Jing Gu(with effect from 28 April 2023)Mr. Honghui Chen(resigned on 28 April 2023) REMUNERATION COMMITTEE Mr. Yung Kwok Tsui(Chairman)Mr. Ming Shu LeungMr. Siu Keung Ng NOMINATION COMMITTEE Mr. Ziming Yang(Chairman)Mr. Ming Shu LeungMs. Jing Gu(with effect from 28 April 2023)Mr. Honghui Chen(resigned on 28 April 2023) CORPORATE GOVERNANCECOMMITTEE Mr. Siu Keung Ng(Chairman)Mr. Yung Kwok TsuiMr. Ming Shu Leung FCPA AUTHORISED REPRESENTATIVES Mr. Siu Keung NgMs. Lai Wah Wong,FCPA FCPA COMPANY SECRETARY Ms. Lai Wah Wong,FCPA Corporate Information(continued) REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands www.ir.cabbeen.com WEBSITEwww.ir.cabbeen.com HEADQUARTERS 8C9510700 9th Floor, Block CNo. 8 Kai Tai Da RoadHuang Pu District, Guangzhou CityGuangzhou 510700PRC PRINCIPAL PLACE OF BUSINESS INHONG KONG 1026AB Unit A&B, 26/F, Billion Plaza II10 Cheung Yue Street,Cheung Sha Wan,KowloonHong Kong CAYMAN ISLANDS SHARE REGISTRARAND TRANSFER OFFICE Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586, Gardenia CourtCamana Bay, Grand CaymanKY1-1110Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2ABlock 3, Building DP.O. Box 1586, Gardenia CourtCamana Bay, Grand CaymanKY1-1110Cayman Islands Corporate Information(continued) HONG KONG BRANCH SHAREREGISTRAR 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712-171617/F, Hopewell Centre183 Queen’s Road EastWanchaiHong Kong AUDITOR KPMG,Certified Public AccountantsPublic Interest Entity Auditor registered in accordance withthe Accounting and Financial Reporting CouncilOrdinance LEGAL ADVISOR AS TO HONG KONG LAW Morgan, Lewis & Bockius PRINCIPAL BANKERS China Construction BankChina Minsheng Banking Corp. Ltd.Industrial Bank Co., Ltd.Shanghai Pudong Development Bank Financial Highlights Financial Highlights(continued) Notes: (1)Return on total assets equals net profit for the period dividedby the closing balance of total assets and is calculated on anannualized basis. (2)Return on equity equals net profit for the period divided by theclosing balance of total shareholders’ equity and is calculated onan annualized basis. (5)Average trade and bills payables turnover days is equal to theaverage of the beginning and closing trade and bills payablesbalance divided by costs of sales and multiplied by the numberof days in the period. Management Discussion and Analysis BUSINESS REVIEW Overview Cabbeen is a Chinese designer brand. Cabbeen FashionLimited (the “Company”) and its subsidiaries (the “Group”)offer apparel and accessories for men and women mainlyunder two main brands, namely, Cabbeen and 2AM.The Group derives its revenue from sales of its productsthrough franchise stores and online shops. Most of theproducts sold under its brand names are designed by theGroup and majority of the products sold are manufacturedby independent manufacturers in the People’s Republic ofChina (the “PRC”). 42486584 As of 30 June 2023, the Group had 4 wholesaledistributors, 24 consignment distributors and 86 sub-distributors operating a total of 584 retail shops in mainlandChina, and the Group also operated 5 retail shops in HongKong. In addition, the Group operates WeChat store andother online shops on e-commerce platforms includingT-mall, JD.com, vipshop, Tiktok and sells products to otheronline distributors. 3470 As of 30 June 2023, the Group had four design workshopsin Guangzhou City, Hong Kong, Milan and Paris,respectively, with a team of 34 (30 June 2022: 70) joiningfrom mainland China, other Asia countries, Hong Kongand Europe. The Group also works with design institutesand contract designers from around the world. Retail channel performance 765589 Physical retail stores reduced from 765 stores as at 30June 2022 to 589 stores as at 30 June 2023. Performanceof retail stores and online shops operated by the Group, itsdistributors and sub-distributors are summarized below. 5.2% –Total retail revenue for the six months ended 30June 2023 decreased by 5.2% as compared to thesame period in 2022. Management Discussion and Analysis(continued) 6.1% –Retail sales revenue from physical retail stores forthe six