利福中国2025 中期报告

ContentsContents目錄目錄 01Financial Highlights 02Corporate Information 04 Management Discussionand Analysis 15Other Information 19 Report on Review of InterimFinancial Information 21 24 Condensed ConsolidatedStatement of FinancialPosition Condensed Consolidated Statementof Profit or Loss and OtherComprehensive Income Condensed ConsolidatedStatement of Changes inEquity 25 26 Condensed Consolidated Statementof Cash Flows Notes to the InterimFinancial Information 財務摘要財務摘要FinancialFinancial LossattributabletoownersoftheCompanyamountedtoRMB3.7million(2024:profitofRMB41.7million)本公司擁有人應佔虧損人民幣3.7百萬元（二零二四年：溢利人民幣 41.7百萬元） Revenuedecreased4.2%toRMB617.8million收入下跌4.2%至人民幣 617.8百萬元 LossespershareamountedtoRMB0.003(2024:earningspershareofRMB0.028)每股虧損人民幣 0.003元（二零二四年：每股盈利人民幣 0.028元） NointerimdividendhasbeendeclaredbytheBoard董事會不宣派任何中期股息 Board of Directors Executive Directors Mr. Lau Luen Hung, Thomas(Chairman and Chief Executive Officer)Mr. Lau Kam SenMs. Lau Kam Shim Non-executive Director Ms. Chan Chor Ling, Amy Independent Non-executive Directors 悅 Ms. Cheung Mei HanMr. Cheung Yuet Man, RaymondMr. Lam Kwong Wai Company Secretary Mr. Poon Fuk Chuen Audit Committee 悅 Mr. Lam Kwong Wai (Chairman)Ms. Cheung Mei HanMr. Cheung Yuet Man, Raymond Remuneration Committee 悅 Mr. Lau Luen Hung, ThomasMr. Lam Kwong Wai (Chairman)Ms. Cheung Mei HanMr. Cheung Yuet Man, Raymond Nomination Committee 悅 Mr. Lau Luen Hung, Thomas (Chairman)Ms. Cheung Mei HanMr. Cheung Yuet Man, RaymondMr. Lam Kwong Wai Registered Office Cricket SquareHutchins Drive, P.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket SquareHutchins Drive, P.O. Box 2681Grand Cayman KY1-1111Cayman Islands Head Office and Principal Placeof Business in Hong Kong 55520 20th Floor, East Point Centre555 Hennessy RoadCauseway Bay, Hong Kong Principal Bankers Agricultural Bank of ChinaIndustrial and Commercial Bank of ChinaBank of China (Hong Kong) Limited Auditor PricewaterhouseCoopersCertified Public Accountants andRegistered Public Interest Entity Auditor Hong Kong Share Registrar andTransfer Office 183171712–1716 Computershare Hong Kong Investor Services LimitedShops 1712–1716, 17th Floor, Hopewell Centre183 Queen’s Road East, Wanchai, Hong Kong Cayman Islands Share Registrar andTransfer Office Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3, Building DP.O. Box 1586, Gardenia Court, Camana BayGrand Cayman, KY1-1100, Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2A, Block 3, Building DP.O. Box 1586, Gardenia Court, Camana BayGrand Cayman, KY1-1100, Cayman Islands Share Information 21365000.659.52* Place of listing: The Stock Exchange of Hong Kong LimitedStock code: 2136Board lot: 500 sharesFinancial year end: 31 DecemberClosing share price at 30 June 2025: HK$0.65Market capitalisation at 30 June 2025: HK$952 million* Website www.lifestylechina.com.hk www.lifestylechina.com.hk * *rounded to the nearest integer 管理層討論及分析管理層討論及分析 Market Overview 5.3% In the first half of 2025, affected by multiple factors includinginternational trade disputes and geopolitical uncertainties, the paceof global economic growth has been slowing. Despite thechallenging overall environment, China’s economy maintained steadygrowth, with its Gross Domestic Product (GDP) expanding byapproximately 5.3% year on year in the first half of 2025,demonstrating both resilience and stability. Fueled by a series of stimulus measures initiated by the Chinesegovernment, including issuance of special treasury bonds, successiveinterest rate cuts, reductions in the reserve requirement ratio, thepromotion of trade-in programs, and the distribution of consumptionvouchers, China’s total retail sales of consumer goods reachedRMB24.55 trillion in the first half of 2025, a year-on-year increase ofapproximately 5%. To further invigorate the market, Shanghailaunched the “New Year Celebration Shopping Festival” at thebeginning of 2025 and held the “Shanghai & Shanghai InternationalCosmetic Festival” and the “5 • 5 Shopping Festival” in Apriland May. These events provided consumers with innovative anddiverse shopping experiences that further stimulated marketdemand. The Group actively capitalized on these favorable policiesand consumption-boosting opportunities and launched timely andinnovative marketing campaigns to enhance its competitiveness inthe market. 24.555% In recent years, consumer preferences have grown increasinglydiverse and segmented, with heightened emphasis on productquality, brand influence, and give environmental protection andsustainability considerations when making purchasing decisions. Inresponse to the emerging consumption trends and the overallslowdown in the consumer market, the Group proactively adopted amulti-pronged strategy, which includes adjusting and optimizingproduct mix, introducing high-quality tenants, enhancing theseamless online-to-offline consumer experience, promoting greenconsumption concepts and sustai