岁宝百货2025中期报告

(incorporated in the Cayman Islands with limited liability)() Stock code: 312 CONTENTS目 錄 2Corporate Profile3Financial Highlights5Chairman’s Statement8Management Discussion and Analysis18Corporate Governance and Other Information28Interim Condensed Consolidated Income Statement29Interim Condensed Consolidated Statement of Comprehensive Income30Interim Condensed Consolidated Balance Sheet32Interim Condensed Consolidated Statement of Changes in Equity33Interim Condensed Consolidated Statement of Cash Flows35Notes to the Interim Condensed Consolidated Financial Information82Corporate Information CORPORATE PROFILE公司簡介 本公司200811 5本集團中國 Shirble Department Store Holdings (China) Limited (the“Company”) was incorporated in the Cayman Islandswith limited liability on 5 November 2008. The Companyand its subsidiaries (collectively, the “Group”) areprincipally engaged in department store operations inthe People’s Republic of China (the “PRC”). 歲寶廣場202563014建 築 面 積242,84238.0% T h eG r o u p i s o n e o f t h e l o n g e s t a b l i s h e dShenzhen-based department store chains. Targetingthe mid-market segment, it runs its department storesunder the “”, “Shirble Plaza” and “” brands. As of 30 June 2025, the Group operatedor managed 14 department stores, nine of which arelocated in Shenzhen, three in Shanwei, one in MeizhouCity and one in Changsha, with a total gross floorarea (“GFA”) of approximately 242,842 sq.m, of which38.0% is located in self-owned properties. CHAIRMAN’S STATEMENT主席報告 D u r i n gt h e s i x m o n t h s e n d e d 3 0 J u n e 2 0 2 5( t h e “1 H 2 0 2 5” ) , t h e r e t a i l m a r k e t i n t h e P R Cexhibited moderate growth, driven by the PRCg o v e r n m e n t ’ s s t r a t e g i c f o c u s o n s t i m u l a t i n gdomestic consumption to address both externaland internal economic pressures. However, theUS’s tariff hikes on Chinese exports proposed andimplemented in April further dampened exportgrowth and heightened economic uncertainty,p a r t i a l l yo f f s e t t i n g t h e i m p a c t o f d o m e s t i cstimulus measures. Profitability in the retail sectorremained under strain due to persistent inflationarypressures, escalating operational costs, as well asthe compounding effects of trade tensions. 20256 302025年上半年4 A d d i t i o n a l l y , e v o l v i n g c o n s u m e r p r e f e r e n c e stowards experiential and emotional value, service-oriented consumption, sustainability, and nichep r o d u c t sh a v e c h a l l e n g e d t r a d i t i o n a l r e t a i lmodels, requiring adaptation to appeal to diversedemographic segments. 2025國內生產總值66.0520244.2%20256全國消費者價格指數0.1%202460.2%202560.2%20240.1% According to the National Bureau of Statistics ofChina, China’s gross domestic product (“GDP”) forthe 1H2025 reached to RMB66.05 trillion, a year-on-year increase of 4.2% from 1H2024. The nationalconsumer price index (“CPI”) rose 0.1% year-on-year in June 2025, as compared to 0.2% in June2024. Total retail sales of consumer goods in June2025 fell 0.2% year-on-year, versus a 0.1% declinein the same period of 2024, reflecting cautiousconsumer spending. CHAIRMAN’S STATEMENT主席報告 2025 During the 1H2025, the Group implemented cost-optimization measures to manage rising operationalexpenses while enhancing in-store experiences andcommunity-focused marketing. These efforts alignwith the evolving PRC retail landscape. The Groupremains committed to delivering customer value,fostering community relationships, and proactivelyaddressing market and operational challenges. 業務回顧 BUSINESS REVIEW 202593.0202497.920253.0202418.524 During the 1H2025, the Group recorded a revenueof RMB93.0 million (1H2024: RMB97.9 million).Loss attributable to owners of the Company forthe 1H2025 amounted to RMB3.0 million (1H2024:RMB18.5 million). The cross-border retail andnighttime economy remain mainstream trends,with convenience stores, gyms, restaurants, andpharmacies operating 24/7 to serve middle-classs e e k i n g c o n v e n i e n c e a n d q u a l i t y . T h e G r o u pextended operating hours to capture growingdemand for food, merchandise, and services afterdusk. In response to growing digital retail, the Groupe n h a n c e d o n l i n e p r o m o t i o n s a n d t h e l o y a l t yprograms to engage consumers, promote products,stimulate interest, and deliver quality goods ands e r v i c e s , i m p r o v i n g c u s t o m e r p a t r o n a g e a n dexperience. A s o f 3 0 J u n e 2 0 2 5 , t h e G r o u p o p e r a t e d o rmanaged 14 department stores with a total grossfloor area of 242,841.9 sq.m., of which 38.0% islocated in self-owned properties. 202563014242,841.938.0% CHAIRMAN’S STATEMENT主席報告 A m i d e c o n o m i c u n c e r t a i n t i e s , t h e G r o u p h a sprudently exited all property investments andimplemented proactive risk mitigation to strengthenresilience and ensuring sustainable operations. 業務前景 BUSINESS OUTLOOK Overall, the Group remains positive in its businessp r o s p