百果园集团二零二五年中期报告

2025 中期報告2025 INTERIM REPORT 目錄CONTENTS Company Introduction2Corporate Information4Definitions8Performance Review and Outlook13Management Discussion and Analysis25Corporate Governance and Other Information46Report on Review of Interim FinancialInformation54Interim Condensed Consolidated Statement ofProfit or Loss56Interim Condensed Consolidated Statement ofComprehensive Income57Interim Condensed Consolidated Statement ofFinancial Position58Interim Condensed Consolidated Statement ofChanges in Equity60Interim Condensed Consolidated Statement ofCash Flows61Notes to the Interim Condensed ConsolidatedFinancial Information63 COMPANY INTRODUCTION OVERVIEW As China’s largest fruit retailer, we have consistently strengthenedo u rn a t i o n w i d e i n t e g r a t e d s t o r e - w a r e h o u s e n e t w o r k a n donline-merge-offlineecosystem.In the first half of 2025,anchored to our strategy of “Expert and Leader in High-qualityandCost-effective Fruit Industry”,we completed the criticaltransitionfrom scale expansion to efficiency-driven operations.Throughproactive store network optimization,product portfoliorestructuring,brand differentiation enhancement,and globalsupplychain expansion,we have solidified the foundation forlong-term sustainable development. Onthe one hand,we have systematically enhanced terminalcompetitiveness through advancing store efficiency optimizationandomnichannel integration,which involves reconstructinghigh-efficiency store networks, strengthening precision operationsofmembers,and implementing scenario-based marketing.Strategicallyclosing underperforming locations while focusingon premium commercial districts has driven significant increaseofcustomer traffic per store.Simultaneously,we deepenedomnichannelintegration by leveraging thematic campaignsandgift box innovations to reinforce the“high quality andcost-effectiveness”brand positioning.Store digitalizationupgrades and supply chain coordination further ensured freshnessmanagement and quality control standards. 2B Onthe other hand,we leveraged supply chain economiesofscale and technology enablement to increase domesticB2Bchannel coverage and explore incremental overseasmarkets.We strengthened brand building for Excellent fruitscategories,creating differentiated product matrices throughoriginaltraceability and cultural collaborations,while exportingcultivationtechnologies upstream to build a quality ecosystem.Government-enterprisepartnerships and platform resourceintegrationcontinuously expanded enterprise consumptionscenarios, perfecting a “Source Globally, Sell Globally” circulationsystem to enhance counter-cyclical growth capabilities. 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 of the Board)Ms. XU YanlinMr. TIAN XiqiuMr. ZHU Qidong NON-EXECUTIVE DIRECTORS Mr. JIAO Yue(re-designated from an executive Director on April 30, 2025)Mr. SUN Kai (resigned on May 23, 2025) 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. SUN Kai(resigned on May 23, 2025)Mr. JIAO Yue(appointed on May 23, 2025) REMUNERATION COMMITTEE Mr. MA Ruiguang(Chairman)Dr. JIANG YanboMs. XU Yanlin NOMINATION COMMITTEE Dr. JIANG Yanbo(Chairman)Mr. YU Huiyong(resigned on April 30, 2025)Ms. XU Yanlin(appointed on April 30, 2025)Mr. MA Ruiguang STRATEGIC COMMITTEE Mr. YU Huiyong(Chairman)Mr. JIAO Yue(appointed on May 23, 2025)Ms. ZHU FangMr. SUN Kai(resigned on May 23, 2025) ESG COMMITTEE Ms. XU Yanlin(Chairperson)Mr. JIAO Yue(resigned on April 30, 2025)Mr. ZHU Qidong(appointed on April 30, 2025)Ms. ZHU Fang BOARD OF SUPERVISORS Mr. YANG Xiaohu(Chairman)Mr. ZOU FengMr. SU Yan JOINT COMPANY SECRETARIES Ms. FU XiaoyanMs. TAM Pak Yu, Vivien AUTHORISED REPRESENTATIVES Mr. JIAO Yue(resigned on April 30, 2025)Mr. ZHU Qidong(appointed on April 30, 2025)Ms. FU Xiaoyan OVERSEAS AUDITOR 22 PricewaterhouseCoopersCertified Public AccountantsRegistered Public