燕之屋2026中期报告

Interim Report中 期 報 告 CONTENTS 2CORPORATE INFORMATION 49CONSOLIDATED STATEMENT OF FINANCIAL POSITION51CONSOLIDATED STATEMENT OF CHANGES IN EQUITY53CONDENSED CONSOLIDATED CASH FLOW STATEMENT54NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT93DEFINITION 5RESULTS HIGHLIGHTS 6MANAGEMENT DISCUSSION AND ANALYSIS 22CORPORATE GOVERNANCE AND OTHER INFORMATION 47CONSOLIDATED STATEMENT OF PROFIT OR LOSS 48CONSOLIDATED STATEMENT OF PROFIT OR LOSS ANDOTHER COMPREHENSIVE INCOME CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. HUANG Jian(Chairman)Mr. ZHENG WenbinMr. LI YouquanMs. HUANG Danyan Non-executive DirectorsMr. LIU ZhenMr. WANG Yalong Independent Non-executive Directors Mr. XIAO WeiMr. CHEN AihuaMr. LAM Yiu Por Supervisors Mr. ZHENG FengMs. WEI WeiMs. ZHANG Ning AUDIT COMMITTEE Mr. CHEN Aihua(Chairman)Mr. XIAO WeiMr. LAM Yiu Por REMUNERATION AND APPRAISAL COMMITTEE Mr. XIAO Wei(Chairman)Mr. LI YouquanMr. CHEN Aihua NOMINATION COMMITTEE Mr. XIAO Wei(Chairman)Mr. CHEN AihuaMs. HUANG Danyan STRATEGY COMMITTEE Mr. HUANG Jian(Chairman)Mr. ZHENG WenbinMr. LAM Yiu Por JOINT COMPANY SECRETARIES Ms. XIONG TingMs. LEUNG Kwan Wai H H SHARE REGISTRAR 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt Road, Hong Kong AUTHORIZED REPRESENTATIVES Mr. HUANG JianMs. XIONG Ting AUDITOR 108 KPMGCertified Public AccountantsPublic Interest Entity Auditor registered in accordance withthe Accounting and Financial Reporting Council Ordinance8th Floor, Prince’s Building10 Chater RoadCentral, Hong Kong REGISTERED OFFICE IN THE PRC 3301 Unit 1, Unit 301No. 3, Xiangming RoadXiamen Torch High-tech Zone (Xiang’an)Industrial ZoneXiamen City, Fujian Province, the PRC CORPORATE INFORMATION HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN THE PRC 18822 22/F, Caizihui, No. 188 Qianpu RoadSiming DistrictXiamen City, Fujian Province, the PRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG 33191928 Room 1928, 19/FLee Garden One, 33 Hysan AvenueCauseway Bay, Hong Kong PRINCIPAL BANK Xiamen Bank Co., Ltd. (Lianqian Branch) HONG KONG LEGAL ADVISER 15434301-10 Han Kun Law Offices LLPRooms 4301-10, 43/F, Gloucester TowerThe Landmark, 15 Queen’s Road CentralHong Kong http://www.yanzhiwu.com COMPANY’S WEBSITEhttp://www.yanzhiwu.com LISTING DATEDecember 12, 2023 STOCK SHORT NAMEYAN PALACE 1497 STOCK CODE 1497 RESULTS HIGHLIGHTS •1,014.616.5%1,181.9 •Our revenue increased by 16.5% from RMB1,014.6 million for the sixmonths ended June 30, 2025 to RMB1,181.9 million for the six monthsended June 30, 2026. •527.520.3%634.8 •Our gross profit increased by 20.3% from RMB527.5 million for the sixmonths ended June 30, 2025 to RMB634.8 million for the six monthsended June 30, 2026. •Our net profit increased by 42.9% from RMB77.5 million for the sixmonths ended June 30, 2025 to RMB110.7 million for the six monthsended June 30, 2026. MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW 1,181.916.5%110.742.9% In the first half of 2026, the macroeconomic environment sought recoveryamid volatility, and the healthcare consumer market exhibited characteristicsof “rational prosperity” and “experiential upgrading”. On the one hand,consumers have become more prudent in selecting premium nourishingproducts, placing higher demands on the cost-effectiveness and efficacyvalidation. On the other hand, with the deepening awakening of healthcareawareness, EBN consumption has formed a parallel pattern of “festivegifting” and “daily self-indulgence.” The competitive landscape has furtherdiverged, and the concentration towards top-tier industry players hasintensified, highlighting the competitive advantages of enterprises equippedwith full-chain quality control capabilities as well as scientific research andinnovation strengths. In the first half of the year, the Company recordedrevenue of RMB1,181.9 million, representing a year-on-year increase of 16.5%,and a net profit of RMB110.7 million, representing a year-on-year increase of42.9%. Against the backdrop of overall growth bottlenecks in the consumermarket, the Company achieved steady growth in both revenue and profit,fully demonstrating the profound foundation and development resilience ofYan Palace as an industry leader. I.Continuing to Unleash Brand Momentum to FacilitateCorporate Development In the first half of 2026, the Company continued to advance the strategyof brand elevation. Leveraging the brand influence generated byour global brand ambassadors, Gong Li () and Zhu Yilong (), the Company expanded its reach among premium and youngerconsumer groups. Through Zhu Yilong’s offline fan meetings, factoryvisit events and online livestreaming activities, the Company achieveddual enhancement in exposure and conversion rates. The Companyalso engaged renowned celebrities and key opinion leaders such as LiJing () and Dai Jun (), effectively reaching target consumergroups through private exclusive gatherings, brand events, productrecommendati