岁宝百货2024年报

56CONSOLIDATED INCOME STATEMENT57CONSOLIDATED STATEMENT OFCOMPREHENSIVE INCOME58CONSOLIDATED BALANCE SHEET60CONSOLIDATED STATEMENT OF CHANGES INEQUITY62CONSOLIDATED STATEMENT OF CASHFLOWS64NOTES TO THE CONSOLIDATED FINANCIALSTATEMENTS206CORPORATE INFORMATION 2CORPORATE PROFILE3FINANCIAL HIGHLIGHTS5CHAIRMAN’S STATEMENT7MANAGEMENT DISCUSSION AND ANALYSIS15DIRECTORS AND SENIOR MANAGEMENT18DIRECTORS’ REPORT31CORPORATE GOVERNANCE REPORT46INDEPENDENT AUDITOR’S REPORT CORPORATE PROFILE Shirble Department Store Holdings (China) Limited (the“Company”) was incorporated in the Cayman Islands withlimited liability on 5 November 2008. The Company andits subsidiaries (collectively, the “Group”) are principallyengaged in the operation of department stores andcommunity shopping malls in the People’s Republic ofChina (the “PRC”). 2008115 2024123114242,84238.0% The Group is one of the long established Shenzhen-baseddepartment store chains. Targeting the mid-marketsegment, it runs its department stores under the “”,“Shirble Plaza” and “” brands. As of 31 December2024, the Group operated and/or managed 14 departmentstores, nine of which are located in Shenzhen, three inShanwei, one in Meizhou City and one in Changsha, witha total gross floor area (“GFA”) of approximately 242,842sq.m, of which 38.0% are the self-owned properties. FINANCIAL HIGHLIGHTS OPERATING RESULTS ASSETS, LIABILITIES AND EQUITY Total assetsTotal liabilitiesTotal equity RevenueOperating (loss)/profitLoss before income tax(Loss)/profit for the year FINANCIAL HIGHLIGHTS REVENUE AND OTHER OPERATING REVENUE CHAIRMAN’S STATEMENT During the year ended 31 December 2024 (the “FY2024”),the Chinese economy maintained a modest growth,but the domestic consumption market continued toface significant challenges amid changing consumerpreferences, increasing competition from the e-commerceplatforms and the pressure on the profit margin due tothe rising operational costs and price-sensitivity amongstthe customers. Despite these headwinds, the domesticconsumption market has shown resilience by adapting thechanging market dynamics through the cost optimisation,domestic sourcing and enhanced customer engagementstrategies. 202412 312024 2024134.920235%2024120.5%20231220243.5%202312 3120237.2% According to the National Bureau of Statistics of China(“NBS”), the GDP of China in the FY2024 amounted toRMB134.9 trillion, representing a year-on-year increaseof 5% as compared to 2023. The national consumer priceindex (“CPI”) in December 2024 was 0.5% higher year-on-year, and CPI in December 2023 remained constantyear-on-year. The amount of the total retail sales of theconsumer goods in the FY2024 in China increased by 3.5%year-on-year, as compare to an increase of 7.2% in theyear ended 31 December 2023 (the “FY2023”). During the FY2024, the Group continued to explore theconsumer market and focus on the community businessstrategy with the goal of “small but beautiful, small butrefined”. The Group also introduced a new brand ofyoung lifestyle to maintain its competitiveness. Throughthe collaboration among the community, businessesand residents, the Group promoted targeted businessdevelopment and community focused marketing initiatives.T h e m u t u a l b e n e f i t a n d w i n - w i n s i t u a t i o n w i t h t h ecommunity have emerged as the key drivers of the Group’sgrowth and provide fascinating opportunities for thesustainable business development. 2024 CHAIRMAN’S STATEMENT BUSINESS REVIEW 2024200.32023190.7202433.82023341.02424 During the FY2024, the Group recorded the revenue ofRMB200.3 million (FY2023: RMB190.7 million). Lossattributable to owners of the Company for the FY2024amounted to RMB33.8 million (FY2023: RMB341.0 million).With the continuous development of the social events andactivities in the evening, the Group does not only continueto operate a one-stop shopping mall concept, but duringthe non-conventional business hours. Some convenientstores, gyms, restaurants and pharmacies are open 24hours a day to achieve a 24-hour community businessecosystem that benefits the consumers and taps the valueof night-time consumption to meet the demand of themiddle class population in the PRC for food, merchandiseand services. Furthermore, online platforms and membership loyalprograms are changing the retail industry crucially for theconsumers seeking goods and services online and bulkpurchase becomes a habit after pandemic. The Groupuses different online platforms to promote and stimulateconsumers’ interest and continue to provide quality goodsand services to increase the customer patronage andenhance the shopping experience to attract and retain newcustomers. As of 31 December 2024, the Group operated and/ormanaged 14 department stores with a total gross floor areaof 242,841.9 sq.m., of which 38.0% are the self-ownedproperties. 2024123114242,841.938.0% With the economic downside risk relating to the highlyleveraged real estate sector, the Group has suspe