岁宝百货2023中期报告

() CONTENTS 2Corporate Profile3Financial Highlights6Chairman’s Statement9Management Discussion and Analysis19Corporate Governance and Other Information28Interim Condensed Consolidated Income Statement29Interim Condensed Consolidated Statement of Comprehensive Income30Interim Condensed Consolidated Balance Sheet32Interim Condensed Consolidated Statement of Changes in Equity33Interim Condensed Consolidated Statement of Cash Flows35Notes to the Interim Condensed Consolidated Financial Information86Corporate Information CORPORATE PROFILE Shirble Department Store Holdings (China) Limited (the“Company”) was incorporated in the Cayman Islandswith limited liability on 5 November 2008. The Companyand its subsidiaries (collectively, the “Group”) areprincipally engaged in department store operationsin the People’s Republic of China (the “PRC”). 200811 5 The Group is one of the long-established Shenzhen-based department store chains. Targeting the mid-market segment, it runs its department stores underthe “” and “Shirble Plaza” brands. Land/Property of the GroupDepartment stores of the Group FINANCIAL HIGHLIGHTS CHAIRMAN’S STATEMENT 20236 30 Duringthe six months ended 30 June 2023,theglobaleconomy was facing many downwardpressureincluding geopolitical tensions andc o n f l i c t s ,i n f l a t i o n a n d c l i m a t e c h a n g e a n ddamages.China’s economy also suffered buti se x p e c t e d t o re c o v e r s t e a d i l y d u e t o t h eeffectiveness of the epidemic prevention and controlmeasures and the implementation of the strategy ofstimulating the domestic demand. 202359.320224.9%20235%20230.7%8.2%20223.1% Accordingto the National Bureau of Statistics ofChina (“NBS”), the GDP of China in the first half of2023amounted to RMB59.3 trillion,representingaslight increase of 4.9%as compared to thesameperiod in 2022,and the GDP is targetedtoincrease about 5%year-on-year for 2023.Thenational consumer price index (“CPI”) for the firsthalf of 2023 was up 0.7% year-on-year. The totalretail sales of consumer goods in the first half of2023in China increased by 8.2%year-on-year,as compared to an increase of 3.1% for the sameperiod in 2022. Followingthe implementation of measures torevive the tourism and resumption of normal travelbetween different cities in China, the Group expectsthat the customer flow of the Group’s departmentstoreswill increase.The Group will continue tofocus on improving the consumer experience andthe services provided, for the purpose of providingtheconsumers with better shopping experience.This will establish a solid foundation for sustainablebusiness development. CHAIRMAN’S STATEMENT BUSINESS REVIEW Duringthe six months ended 30 June 2023,theGrouprecorded a revenue of RMB91.9 million(2022: RMB90.1 million). Loss attributable to ownersofthe Company amounted to RMB63.9 million(2022: RMB129.4 million). 20236 3091.9202290.163.92022129.4 Inthe first half of 2023,the Group continuedtoimprove the customer shopping experiencea n ds e r v i c e s .T h e G r o u p i s c o m m i t t e d t ostrengthening the employees' trainings on the betterunderstanding and fulfilment of consumers’ needsby providing high-quality services and experiencetomaintain customer loyalty and attract newcustomers.Meanwhile,the Group also optimisedthe layout and design and tenant mix of one-stopshopping mall, “Shirble Plaza”, to meet the demandof the middle class population in China by offeringhigh-quality food, merchandise and services. 2023 Asof 30 June 2023,the Group operated and/ormanaged 15 department stores with a total grossfloor area of 253,730 sq.m, of which 36.4% are theself-owned properties. 20236 3015253,73036.4% , Withthe economic downward pressure on therealestate sector,the Group has reduced theproperty investments and has been evaluating thecommercial merits of the existing property projectsas well as actively exploring their disposal or otherpossiblesolutions to reduce the exposure of theGroup. Simultaneously, the Group also consolidatedresourcesto enhance the competitiveness of itscore department store business, and continued totake proactive measures to strengthen the businessresilience. CHAIRMAN’S STATEMENT BUSINESS OUTLOOK Overall,despite the challenges faced by theChineseeconomy,the Group remains confidentinits long-term prospects and is committed toimprovingits operations and services to meetcustomer needs. Lookingahead,the Group will consolidate itsresources, strengthen the management and adoptprudent business strategies to mitigate the pressurefrom the economic slowdown and continue to seizefuture market opportunities. MANAGEMENT DISCUSSION AND ANALYSIS FINANCIAL REVIEW Theoperating results of the Group for the sixmonthsended 30 June 2023 are presented int w ore p o r t a b l e o p e r a t i n g s e g m e n t s ,n a m e l y(a)department store business and(b)othersincluding property business and unallocated items,comprisingmainly head office overheads.Thefollowing discussions and ana