百果园集团二零二三年中期报告

2023 中期報告2023 INTERIM REPORT CONTENTS Company Introduction2Corporate Information4Definitions8Business Review and Outlook13Management Discussion and Analysis25Corporate Governance and Other Information42Report on Review of Interim FinancialInformation50Interim Condensed Consolidated Statement ofProfit or Loss52Interim Condensed Consolidated Statement ofComprehensive Income53Interim Condensed Consolidated Statement ofFinancial Position54Interim Condensed Consolidated Statement ofChanges in Equity56Interim Condensed Consolidated Statement ofCash Flows57Notes to the Interim Condensed ConsolidatedFinancial Information59 COMPANY INTRODUCTION OVERVIEW We are the largest fruit retail operator in China. Through internaldevelopment and external empowerments, we are able to exertinfluenceand management across the entire industry chainfrom fruit farming to retail end. We participate in the cultivationphase to secure high-quality fruits, implement professional andstandardized quality management throughout the entire industrychain, provide consumers with delicious fruits at affordable prices,and achieve high turnover and low loss rate. In particular, we haveset up three new business units, retail business unit,business-to-business or 2B business unit2Band categorybusiness unit, to focus on three major opportunitiesfor the development of fruit sales industry. 32B APP2B Weare committed to becoming the go-to brand for Chineseconsumers.We primarily sell fruits,and also sell fruit-basedproducts such as dried fruits and juice. We primarily sell fruitstoconsumers through our offline store network comprisingfranchised stores supervised by us, franchised stores supervisedby our regional dealers and self-operated retail stores. We alsodistribute through our online channels comprising Pagoda mobileAPPs,Pagoda WeChat mini-program,stores on mainstreame-commerce platforms and social commerce platforms or throughthird-partyfood delivery platforms we partner with.We alsoengagein business-to-business or 2B business with a primaryfocus on direct sales of quality fruit to omni-channel customersand meanwhile, we also export some quality fruits overseas. We have built a nationwide community-based fruit specialty retailnetworkwith OMO and store-as-warehouse features,which isa store-centric retail business model where a store serves bothas a retail front for offline purchase and as a storage for onlinepurchase and delivery services, providing OMO advantages andfulfillingthe needs for flexible purchase and delivery options.In addition,we also extended our reach to customers throughdiverse channels, such as WeChat groups and Douyin, which offerconvenient and diverse online shopping options to customers. COMPANY INTRODUCTION OUR VISION Ourvision is to be the world’s largest fruit company.Throughconstructingour ecosystem and empowering our partners,wewillcontinue to carry out the whole industry chain layout anddevelopment, striving to become the world’s largest fruit companyin terms of sales volume, the size of service population, and thenumber of fruit product brands. OUR MISSION Our mission is to offer delicious fruits and enjoyable lifestyle topeople. We would let more and more people enjoy delicious andaffordable fruits, spread fruit knowledge and culture to them, andbring them health and happiness. OUR VALUE We are in a sustainable industry with a long-term prospect. Fruitis a product of the nature and can be eaten raw without hightemperature processing, generally retaining its active substances.Webelieve that a successful fruit company should pursue tobecome a fruit brand with high value-for-money in the minds ofconsumers,and continue to create business value for variousbusiness partners. We will continue to implement the “delicious” business strategy,focusing on continuing to expand our supply chain network andimprove our offering of quality and cost-effective fruits, to becomethe go-to brand for customers. Meanwhile, we will also continue tocreate more commercial value for our business partners, includingour franchisees and suppliers. CORPORATE INFORMATION BOARD OF DIRECTORSEXECUTIVE DIRECTORS Mr. YU Huiyong(Chairman of the Board)Ms. XU YanlinMr. TIAN XiqiuMr. JIAO YueMr. ZHU Qidong NON-EXECUTIVE DIRECTORS Mr. PAN PanMr. HU Qihao INDEPENDENT NON-EXECUTIVE DIRECTORS Dr. JIANG YanboMr. MA RuiguangDr. WU ZhanchiMr. CHEUNG Yee Tak JonathanMs. ZHU Fang AUDIT COMMITTEE Dr. WU Zhanchi(Chairman)Mr. MA RuiguangMr. PAN Pan REMUNERATION COMMITTEE Mr. MA Ruiguang(Chairman)Dr. JIANG YanboMs. XU Yanlin NOMINATION COMMITTEE Dr. JIANG Yanbo(Chairman)Mr. YU HuiyongMr. MA Ruiguang STRATEGIC COMMITTEE Mr. YU Huiyong(Chairman)Mr. PAN PanMs. ZHU Fang CORPORATE INFORMATION ESG COMMITTEE Ms. XU Yanlin(Chairperson)Mr. JIAO YueMs. ZHU Fang BOARD OF SUPERVISORS Mr. YANG Xiaohu(Chairman)Mr. ZOU FengMr. SU Yan JOINT COMPANY SECRETARIES Ms. FU XiaoyanMs. TAM Pak Yu, Vivien AUTHORIZED REPRESENTATIVES Mr. JIAO YueMs. FU Xiaoyan