百果园集团二零二四年度报告

註 2024 目錄CONTENTS Company Introduction2Corporate Information4Definitions8Chairman’s Statement17Performance Review and Outlook19Management Discussion and Analysis33Biographies of Directors, Supervisors andSenior Management56Report of the Board of Directors70Report of the Board of Supervisors122Corporate Governance Report128Independent Auditor’s Report166Consolidated Statement of Profit or Loss175Consolidated Statement of ComprehensiveIncome176Consolidated Statement of Financial Position177Consolidated Statement of Changes in Equity179Consolidated Statement of Cash Flows180Notes to the Consolidated Financial Statements182Five-Year Financial Summary416 COMPANY INTRODUCTION OVERVIEW 2B We are the largest fruit retail operator in China ranking No. 1 interms of sales of fruit chain stores in China for eleven consecutiveyears (2014-2024), and we have built a nationwide community-basedfruit specialty retail network with store-as-warehouseandOMO features.In 2024,with the core strategy of“ExpertandLeader in High-quality and Cost-effective Fruit Industry”,wepushed forward business transformation and upgradingcomprehensively through a series of measures such as optimizingourstore network,adjusting our product operation strategy,strengtheningbrand building,expanding our 2B businessand perfecting our supply chain ecosystem, so as to build upmomentum for the Company’s long-term development. 12.4% In2024,the retail business unit focused more on high-qualitydevelopmentwith an emphasis on improving the stores’operational efficiency and reshaping the consumers’ awareness of“cost effectiveness”. On the one hand, we strategically optimizedthestore layout,concentrated our resources on supportingadvantageousstores,and systematically upgraded franchiseesupport system to promote the overall improvement of operationalefficiency and profitability of our stores. On the other hand, weadjusted our category operation strategy to strengthen our pricecompetitivenessof our products in addition to the quality andreliabilityof our products,building a“high-quality and cost-effective” brand awareness of our products. In addition, we keenlycapturedthe trend of the healthier consumption of gifts anddeveloped differentiated gift boxes with a focus on a number ofmajor festivals, driving the proportion of gift sales to 12.4% of ourtotal retail sales of Pagoda stores. 2B22%18%46+14.7% In terms of the 2B business unit, leveraging our strong supplychain advantages and product resources, we continued to expanddomestic and overseas customer channels and diversify productcategories,and achieved a solid year-on-year growth of 22%in revenue from direct sales of fruits and other food products,while direct sales of fruits in overseas markets also increased by18% on a year-on-year basis. In terms of the category brandsdevelopment,we had successfully introduced 46 self-ownedExcellentfruit brands,and deepened the Excellent fruit branddifferentiated recognition through the “press release at origin +culturalempowerment”and other innovative marketing modes.The sales of such Excellent fruit brands increased to 14.7% of ourtotal retail sales of Pagoda stores in 2024. COMPANY INTRODUCTION OUR STRATEGY Our strategy is to be an expert and leader in high-quality andcost-effective fruit industry. OUR VISION Ourvision is to become a world-leading fruit eco-technologycompany. OUR MISSION Our mission is to offer delicious fruits and enjoyable lifestyle topeople. OUR CORE VALUES Our core values are conscience, trust, altruism, innovation, andresults. Conscience means that we should have correct conceptsandgoodwill in development;trust means that we should fullytrust partners including our franchisees, suppliers, consumers andemployees; altruism is a guide to our action, and we should takeinto account the interests of others in everything we do; innovationaccompanies us at incorporation, witnesses our growth, and thusisthe source of power that supports our future development;results means that we should pay attention to outputs in everythingwe do, and optimize the process through the results. CORPORATE INFORMATION BOARD OF DIRECTORS EXECUTIVE DIRECTORS Mr. YU Huiyong(Chairman)Ms. XU YanlinMr. TIAN XiqiuMr. JIAO YueMr. ZHU Qidong NON-EXECUTIVE DIRECTORS Mr. PAN Pan(resigned on April 12, 2024)Mr. HU Qihao(resigned on February 2, 2024)Mr. SUN Kai(appointed on June 6, 2024) 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(resigned on April 12, 2024)Mr. SUN Kai(appointed on June 6, 2024) 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 Pan(resigned on April 12, 2024)Ms. ZHU FangMr. SUN Kai(appointed on June 6, 2024) CORPORATE INFORMATION ESG COMMITTEE Ms.