中国利郎年报2023

2023Annual Report年 報 About China Lilang China Lilang is one of the leading PRC menswear enterprises. As anintegrated fashion enterprise, the Group designs, sources and manufactureshigh-quality business and casual apparel for men and sells under the“LILANZ” and “LESS IS MORE” brands across an extensive retail anddistribution network, covering 31 provinces, autonomous regions andmunicipalities in the PRC. LILANZLESS IS MORE31 Contents Corporate Information2Financial Highlights4Chairman’s Statement6Management Discussion and Analysis11Environmental, Social and Governance Report34Corporate Governance Report79Biographical Details of Directors andSenior Management98Report of the Directors109Independent Auditor’s Report124Consolidated Statement of Profit or Loss andOther Comprehensive Income133Consolidated Statement of Financial Position134Consolidated Statement of Changes in Equity136Consolidated Statement of Cash Flows137Notes to the Financial Statements138Five Years Summary204 Corporate Information BOARD OF DIRECTORS EXECUTIVE DIRECTORS Mr. Wang Liang XingMr. Wang Cong XingMr. Pan Rong BinMr. Wang Jun Hong(appointed on 5 February 2024)Mr. Wang Zhi Yong(appointed on 5 February 2024) NON-EXECUTIVE DIRECTORS Mr. Wang Dong Xing(Chairman)Mr. Cai Rong HuaMr. Hu Cheng Chu INDEPENDENT NON-EXECUTIVE DIRECTORS Mr. Lai ShixianMr. Zhang Shengman(appointed on 17 March 2023)Prof. Liao Jianwen(appointed on 5 February 2024)Prof. Jiang Zhan(appointed on 5 February 2024)Dr. Lu Hong Te(resigned on 5 February 2024)Mr. Nie Xing (resigned on 1 June 2023) BOARD COMMITTEES AUDIT COMMITTEE Mr. Zhang Shengman(Chairman)Mr. Lai ShixianProf. Liao JianwenProf. Jiang ZhanREMUNERATION COMMITTEE Mr. Lai Shixian(Chairman)Mr. Wang Cong XingMr. Zhang ShengmanNOMINATION COMMITTEE Mr. Wang Dong Xing(Chairman)Mr. Zhang ShengmanProf. Liao JianwenProf. Jiang ZhanRISK MANAGEMENT COMMITTEE Mr. Wang Dong Xing(Chairman)Mr. Wang Cong XingMr. Pan Rong Bin COMPANY SECRETARY Mr. Shum Chi Chung AUTHORISED REPRESENTATIVES Mr. Wang Dong XingMr. Shum Chi Chung REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands PRINCIPAL PLACE OF BUSINESS IN HONG KONG 89343402 Suite 340234th Floor, Lippo CentreTower OneNo. 89 QueenswayHong Kong HEAD OFFICE IN THE PRC 200 Lilang Industrial Park200 Chang Xing RoadJinjiang CityFujian ProvinceThe PRC SHARE REGISTRARS AND TRANSFER OFFICES SUNTERA CAYMAN LIMITED SUNTERA (CAYMAN) LIMITED Suite 3204, Unit 2ABlock 3, Building DP.O. Box 1586Gardenia CourtCamana BayGrand Cayman, KY1-1100Cayman Islands Suite 3204, Unit 2ABlock 3, Building DP.O. Box 1586Gardenia CourtCamana BayGrand Cayman, KY1-1100Cayman Islands HONG KONG REGISTRAR 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712-171617th Floor, Hopewell Centre183 Queen’s Road EastWanchaiHong Kong AUDITOR KPMG, Certified Public Accountants(Public Interest Entity Auditor registered in accordance with the Accounting andFinancial Reporting Council Ordinance) PRINCIPAL BANKERS Industrial Bank Co., Ltd.China Minsheng Banking Corp., Ltd.Bank of China (Hong Kong) Limited Chairman’s Statement Operating in such a challenging business environment, China Lilangactively responded to the changing market by continuously facilitating newretail business, promoting sales and driving store efficiency. By launchingquality and iconic items as well as rejuvenating the brands, it enhanced thecompetitiveness of the Group’s brands. To all shareholders, In 2023, China welcomed its first year of recovery after three years ofpandemic. Despite the continued complex and ever-changing globalsituation, the economy in mainland demonstrated resilience. Under theguidance of the encourage consumption policy by the central government,the retail market has gradually recovered and achieved a moderate growthin the second half of the year. During the year, China Lilang Limited (the“Company” or “China Lilang”, together with its subsidiaries, collectivelyknown as the “Group”) pushed forward the Lilang brand’s strategic upgradeand achieved both revenue and profit growth, laying a solid foundation forfuture sustainable development. 14.8%3,543.818.4%530.4 As of 31 December 2023, the Group’s revenue for the year increased by14.8% year-on-year to RMB3,543.8 million. Profit for the year increased by18.4% year-on-year to RMB530.4 million. Chairman’s Statement (Continued) 13955 During the year, the Group maintained a healthy financial position withsufficient cash flow. The Board of Directors has resolved to pay a finaldividend of HK13cents (2022: HK9 cents) per share and a special finaldividend of HK5 cents (2022: HK5 cents) per share, thus maintaining a stablepayout ratio throughout the year. During the year, the Group continued to strengthen the developmentof the new retail business. It optimised the integration of online andoffline m