中国利郎：截至二零二六年六月三十日止六个月中期业绩公告

1234 Financial Highlights Management Discussion and AnalysisReview Report of the AuditorCondensed Consolidated Statement of Profit or Loss andOther Comprehensive IncomeCondensed Consolidated Statement of Financial PositionCondensed Consolidated Statement of Changes in EquityCondensed Consolidated Statement of Cash FlowsNotes to the Unaudited Interim Financial ReportOther Information2425272830313248 CONTENTS目錄 FINANCIAL HIGHLIGHTS財務摘要 FINANCIAL HIGHLIGHTS (CONTINUED)財務摘要（續） Notes: (1)(2)(3)(4) (1)Return on average shareholders’ equity is equal to the profit attributable to equityshareholders for the period divided by the average of the beginning and closingbalances of total shareholders’ equity.(2)Average inventory turnover days is equal to the average of the beginning andclosing inventory balances divided by cost of sales and multiplied by the number ofdays in the relevant period.(3)Average trade receivables turnover days is equal to the average of the beginningand closing trade receivables balances divided by revenue (including value-addedtax) and multiplied by the number of days in the relevant period.(4)Average trade payables turnover days is equal to the average of the beginning andclosing trade and bills payables balance divided by cost of sales and multiplied bythe number of days in the relevant period. MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析 China Lilang was committed toenhancing competitiveness of itsbrands – the core collection “LILANZ”and smart casual collection “LESS ISMORE”, so as to improve operationalefficienc y and increase mar k etshare. At the same time, the Groupadjusted its sales strategies in a timelymanner in response to changesin market conditions, achievingoptimal sales performance whileupholding its brand positioning andproduct quality. During the period,the Group strategically increased thesupply of value for money products,especially outlet products, to reachthe broader consumer base. Afterthe “LILANZ” main series launchedthe Direct-to-Consumer (“DTC ”)model in certain regions, operationsshowed improvement. Therefore,management extended the DTCmodel to Hubei Province in the firsthalf of the year. I n t h e f i r s t h a l f o f 2 0 2 6 , g l o b a lgeopolitical tensions remained high,regional conflicts intensified, supplychains were disrupted, leading tosignificant fluctuations in energy andcommodity prices and increasing riskof global inflation, which threatenedthe pace of economic growth in variouscountries. Despite a complex externalinternational environment, China’seconomy maintained a stable growthmomentum. During the period, grossdomestic product (GDP) increasedby 4.7% year on year, including 5.0%growth in the first quar ter and aslowdown to 4.3% in the secondquar ter. The domestic consumermarket experienced moderate growth,with the growth rate of services retailgrowing faster than goods retail.Consumers are becoming more rationalin their purchasing decisions, and theirsensitivity to price, functionality andpracticality continuously increased.In the first half of 2026, total retailsales of consumer goods increased by1.3% year on year, of which retail salesof apparel, footwear, headwear andknitwear increased by 6.7%, reflectingthe resilience of consumption in theapparel category. Online retail salesremained robust, increasing by 4.8%year on year. Progress continued in the Multi-brandsand Internationalization strategies. Thehigh-end golf brand MUNSINGWEAR,which specializes in the premium nichemarket, continued to advance its onlineand offline channel development andbrand exposure in the firsthalf of the year, opening 3 new stores. As forthe developmento f i t s o v e r s e a sb u s i n e s s ,t h eGroup has opened5 overseas storesin Malaysia startinglast year. Since theiropening, the marketresponse has beenpositive, accumulatingexperience for long-t e r mi n t e r n a t i o n a ldevelopment. The Group also continued to optimizeits sales channels, opening new largersize stores with modern decorationin prime locations as planned, whileclosing non-performing stores. Bythe end of June 2026, the Grouphad a total of 2,820 stores with a netincrease of three stores during theperiod, with total retail floor area upby 1.3% compared with the end ofthe previous year. The store networkof the Group has continued to be itsmost important sales channel. China Lilang Limited (the “Company”or “China Lilang”, and together withits subsidiaries, the “Group”) adaptedto market changes during the periodto seize growth opportunities arisingf r o m t h e t r a n s f o r m a t i o n o f t h econsumption structure, and steadfastlyimplemented its “Multi-brands andInternationalization” developmentstrategy. For the six months ended30 June 2026, the Group’s growthcontinued to outperform the market,recording revenue of RMB2,064.7million, representing a year-on-yearincrease of 19.5%. Profit attributableto Equity Shareholders was RMB215.4million, ear nings per share wereRMB18.0 cents. Taking in