易生活控股2025/2026 中期报告

Contents目錄 1Corporate Information公司資料3Management Discussion and Analysis管理層討論及分析9Report on Review of Condensed Consolidated Financial Statements簡明綜合財務報表審閱報告10Unaudited Condensed Consolidated Interim Financial Statements and Notes未經審核簡明綜合中期財務報表及附註45Additional Information其他資料 CORPORATE INFORMATION公司資料 BOARD OF DIRECTORSExecutive Directors: Zhao Zhenzhong (Vice Chairman and Acting Chairman)Zhang ZhilinGuo WeiQin JialiTan Xin Independent Non-executive Directors: Lin QiuchengWang AnxinWu Kwok Choi, Chris AUDIT COMMITTEEWu Kwok Choi, Chris (Chairman)Lin QiuchengWang Anxin REMUNERATION COMMITTEELin Qiucheng (Chairman)Tan XinWang AnxinWu Kwok Choi, Chris NOMINATION COMMITTEEWang Anxin (Chairman)Zhao ZhenzhongZhang ZhilinLin QiuchengWu Kwok Choi, Chris COMPANY SECRETARYChu Mei Yi 186 PRINCIPAL PLACE OF BUSINESS IN HONG KONG6/F, The Annex,Central Plaza,18 Harbour Road,Hong Kong Cricket Square,Hutchins Drive,P.O. Box 2681,Grand Cayman KY1-1111,Cayman Islands REGISTERED OFFICECricket Square,Hutchins Drive,P.O. Box 2681,Grand Cayman KY1-1111,Cayman Islands PRINCIPAL BANKERBank of China (Hong Kong) Limited AUDITORHLB Hodgson Impey Cheng Limited 1131 Certified Public Accountants31/F., Gloucester Tower, The Landmark,11 Pedder Street, Central,Hong Kong 1617 SHARE REGISTRARTricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt Road, Hong Kong 29161603 LEGAL ADVISERSLoong & Yeung Solicitors Room 1603, 16/F, China Building,29 Queen’s Road Central, Central,Hong Kong 186 Bird & Bird6/F, The Annex, Central Paza,18 Harbour Road,Wanchai, Hong Kong 00223 STOCK CODE00223 MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析 BUSINESS REVIEW AND OUTLOOK The six months ended 30 September 2025 has been a turbulent period for theCompany, marked by the continuing suspension of trading and challengingconditions in the China market due to the China-US trade war, which led toaneconomic downturn.Despite these challenges,the Group implementedeffective cost-control measures to raise its economic efficiency and tried tosustain long-term business growth. The Company continued to enhance itsdigital intelligent comprehensive service capabilities across the entire brandlifecycle, including brand management, brand operations, brand promotionand brand supply chain. Althoughthe Group’s total revenue decreased by 49%period-on-periodto approximately HK$60.9 million for the six months ended 30 September2025 (the “Current Period”) from approximately HK$119.5 million for the sixmonths ended 30 September 2024 (the “Last Period”), the gross profit declinewas more modest.Gross profit of the Group only decreased from HK$9.5million for the Last Period to HK$6.6 million for the Current Period, whichwas attributable to an improved gross profit margin from 7.9% to 10.8%. Thebrand promotion business was the primary driver, contributing approximatelyHK$54.0 million and constituting 89% of total revenue for the Current Period. 119.549%60.99.56.67.9%10.8%54.089% Throughoutthe year,Elife forged strategic partnership with leadingenterprises. The strategic cooperation with TCL Commercial has expandedthe Company’s brand supply chain footprint in smart home appliances andconsumer electronics, enhancing penetration in technology-driven consumermarkets. TCL The Group has been managing the following businesses: SUPPLY CHAIN BUSINESS (B2C2C) TheGroup is engaged in the comprehensive supply chain business forbranded goods and consumer products, focusing on assisting brand suppliersexpanding their online and offline sales channels, establishing direct saleschannelswith end customers(B2C2C),and offering various value-addedservicessuch as brand building,management and promotion for brandowners (or their advertising agents) to form a complete industry chain. Withrespect to our brand promotion services, the Group offers digital intelligentmarketing plan to enhance customers’ brand awareness and boost productsales through different online and offline platforms, including scenario-baseddigital media inhotel venues and various social media platforms such asTikTok, Kuaishou, etc. (1) (1)Brand Management Inview of the Group’s marketing resources and advantages in thedigitalizationand internet technologies field,the Group is able toprovide brand management services, which include strategy formulation,planning and execution, brand incubation, investment in brand assets,enhancementof brand and product image and market recognition inareas such as innovation, intellectual property rights management, brandprivate domain marketing, membership rights services, event planningand execution, etc. (2) (2)Brand Promotion TheGroup is expanding its media advertising resources,targetingvarious sources of screen such as face recognition screens in hotels,LCDscreens in elevators,in-room television screens,large screensinhotel lobbies,restaurant/interactive screens,various screens inairportsand high-speed rail stations,as well as the“City Corridor”offline res