江南布衣二零二五/二六中期报告

Company Introduction Corporate Information Financial Summary Management Discussion and Analysis Corporate Governance Practices Report on Review of Condensed Consolidated Financial Statements Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income32 Condensed Consolidated Statement of Financial Position33 Condensed Consolidated Statement of Changes in Equity35 Condensed Consolidated Statement of Cash Flows37 Notes to the Condensed Consolidated Interim Financial Information38 COMPANY INTRODUCTION INFORMATION ON JNBY GROUP JNBY(i)(ii)jnby by JNBY(iii)L E S SP O M M ED ET E R R EJNBYHOMEonmygameB1OCK(Just Naturally Be Yourself) JNBY Design Limited (the “Company” or “JNBY Group”) and its subsidiaries (the“Group” or “we”) are an influential designer brand fashion house based in China. Wedesign, promote and sell contemporary apparel, footwear and accessories as well ashouseholdproducts.As of December 31,2025,our brand portfolio comprises anumber of brands in three stages — the Mature brand, namely JNBY, three Youngerbrands, namely (i) CROQUIS, (ii) jnby by JNBY and (iii) LESS, as well as variousEmerging brands, such as POMME DE TERRE (), JNBYHOME, onmygame andB1OCK, each targeting at a distinct customer segment and having a uniquely defineddesign identity based on our Group’s universal brand philosophy — “Just NaturallyBe Yourself”. JNBYjnbyby JNBYLESSP O M M ED E T E R R EJNBYHOMEonmygameB1OCK Our products target at middle- and upper-income customers who seek to expresstheir individuality through fashionable products. Our broad range of product offeringandbrand portfolio create a lifestyle ecosystem that enables us to address ourcustomers’needs at different stages and scenarios of their lives,which in turnallowsus to build a large,diversified and loyal customer base.We started ourbusiness in 1994 by selling women’s apparel with the brand JNBY aimed at providingcontemporarywell-designed and high-quality women’s wear to consumers.Weexpanded our brand portfolio between 2005 and 2011 to include CROQUIS, jnby byJNBY and LESS. During 2016–2019, we further launched various Emerging brands,suchas POMME DE TERRE()and JNBYHOME,and in 2024,we added thechildren’s apparel brand, onmygame, and boutique department store brand, B1OCK,to the Emerging brands matrix through acquisition, so that our product mixes couldbe more diversified and segmented and we could cover consumers of most agegroups. +jnby+ Meanwhile, we continuously launched new consumption scenarios or products suchas“Box Project”,“JIANGNANBUYI+”and“jnby+”multi-brand collection stores toprovideconsumers with more value-added services.Taking into account ourcustomers’purchasing patterns and information needs,we have established anomni-channel interactive platform comprising physical retail stores, online platformsand WeChat-based social media interactive marketing service platform, with eachcomponent playing a critical role in attracting fans and transforming our potentialfans into loyal fans. We aim to build up a “JNBY Fans Economy” system, which isbased on a community of fans whose purchases are driven by their affinity to thelifestyle we aim to promote. CORPORATE INFORMATION BOARD OF DIRECTORS EXECUTIVE DIRECTORSMr. Wu Jian(Chairman)Ms. Li LinMs. Wu Huating NON-EXECUTIVE DIRECTORMr. Wei Zhe INDEPENDENT NON-EXECUTIVE DIRECTORS Mr. Lam Yiu PorMs. Han MinMr. Hu HuanxinMr. Wong Shun Tak(appointed on September 8, 2025) BOARD COMMITTEES AUDIT COMMITTEE Mr. Lam Yiu Por(Chairman)Ms. Han MinMr. Hu HuanxinMr. Wong Shun Tak(appointed on September 8, 2025) REMUNERATION COMMITTEE Mr. Hu Huanxin(Chairman)Mr. Wu JianMr. Lam Yiu Por NOMINATION COMMITTEEMr. Wu Jian(Chairman)Mr. Hu HuanxinMs. Han Min JOINT COMPANY SECRETARIES Ms. Qian XiaopingMs. Tsui Ka Yan(ACG, HKACG) (appointed on September 8, 2025)Ms. Ng Sau Mei(resigned on September 8, 2025) (ACG, HKACG) AUTHORISED REPRESENTATIVES Mr. Wu JianMs. Tsui Ka Yan(appointed on September 8, 2025)Ms. Ng Sau Mei(resigned on September 8, 2025) Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 3982–6 HEADQUARTERS Building 2–6, OōELiNo. 398 Tianmushan Road, Xihu DistrictHangzhou, Zhejiang Province, PRC 1229 PRINCIPAL PLACE OF BUSINESS IN HONG KONG Unit 9, 22/F, Seapower TowerNorth Tower, Concordia Plaza1 Science Museum RoadTsim Sha TsuiKowloonHong Kong, PRC AUDITOR •8835 Deloitte Touche TohmatsuCertified Public AccountantsRegistered Public Interest Entity Auditors35th Floor, One Pacific Place88 QueenswayHong Kong, PRC THE CAYMAN ISLANDS PRINCIPAL REGISTRAR ANDTRANSFER OFFICE Codan Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Codan Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 慤1617 HONG KONG SHARE REGISTRAR Tricor