香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 CENTURY GINWA RETAIL HOLDINGS LIMITED 世紀金花商業控股有限公司 （於百慕達註冊成立之有限公司） （股份代號：162） 截至二零二五年六月三十日止六個月之 中期業績公告 財務摘要 | | 截至該日止六個月 | | | --- | --- | --- | | | 二零二五年 | 二零二四年 | | | 六月三十日 | 六月三十日 | | | 人民幣百萬元 | 人民幣百萬元 | | (1) 總收益 | 401.0 | 496.8 | | 收益 | 197.6 | 225.4 | | 稅息折舊及攤銷前盈利 | 12.7 | 7.2 | | (3)(4) 經調整稅息折舊及攤銷前盈利 | 50.0 | 37.2 | | 稅息前盈利（經營虧損） | (94.4) | (105.0) | | (2)(4) 經調整稅息前利潤（經營虧損） | (55.2) | (73.3) | | 本 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全 部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 有關訴訟之 內幕消息公告 本公告乃由世紀金花商業控股有限公司（「本公司」，連同其附屬公司，統稱 「本集團」）根據香港聯合交易所有限公司證券上市規則第 13.09(2)(a)條以及香 港法例第 571 章證券及期貨條例第 XIVA 部作出。 茲提述本公司日期為二零二四年五月二十三日及二零二四年六月三日有關訴訟 之公告(「該等公告」)。除另有界定者外，本公告所採用詞彙與該等公告所界定 者具有相同涵義。 買方於二零二五年八月二十五日收到雁塔區人民法院日期為二零二五年七月二 十一日的判決書，判決如下： 如項目公司未按照判決書指定的期間履行金錢給付義務，應當依照《中華人民 共和國民事訴訟法》第二百六十四條之規定，加倍支付遲延履行期間的債務利 息。案件受理費人民幣 1,885,840 元，由項目公司承擔人民幣 1,043,680 元，由 買方承擔人民幣 842,160 元。 - 1 - 一、 項目公司於判決生效之日 ...

格隆汇8月18日丨世纪金花(00162.HK)公布，公司将于2025年8月28日召开董事会会议，以（其中包括） 审议及通过集团截至2025年6月30日止六个月的中期业绩及其发布，以及审议派发中期股息的建议（如 有）。 ...

董事會會議通告 世 紀 金 花 商 業 控 股 有 限 公 司 （ 「 本公司 」 ） 董 事 （ 「 董 事 」 ） 會 （ 「 董 事 會」）謹此宣佈，將於二零二五年八月二十八日（星期四）舉行董事會會議， 以考慮及批准（其中包括）本公司及其附屬公司截至二零二五年六月三十日止 六個月之未經審核中期業績及宣派中期股息（如有）。 承董事會命 世紀金花商業控股有限公司 主席 馬文忠 於本公告日期，董事會由四名執行董事馬文忠先生（主席）、鄭開杰先生(行政 總裁)、宛慶女士及張偉女士；兩名非執行董事黃致華先生及陳帥先生；以及三 名獨立非執行董事曾國偉先生、阮曉峰先生及宋紅女士組成。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不因本公告全部 或部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 香港，二零二五年八月十八日 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不因本公告全部 或部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 承董事會命 世紀金花商業控股有限公司 主席 馬文忠 香港，二零二五年八月十一日 於本公告日期，董事會由四名執行董事馬文忠先生（主席）、鄭開杰先生(行政 總裁)、宛慶女士及張偉女士；兩名非執行董事黃致華先生及陳帥先生；以及三 名獨立非執行董事曾國偉先生、阮曉峰先生及宋紅女士組成。 更改香港主要營業地點 世 紀 金 花 商 業 控 股 有 限 公 司 （ 「 本公司 」 ） 董 事 （ 「 董 事 」 ） 會 （ 「 董 事 會」）宣佈，本公司之香港主要營業地點自二零二五年八月十一日起遷至香港 中環德輔道中 141 號中保集團大廈 27 樓 2701 室。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 世紀金花商業控股有限公司 呈交日期: 2025年8月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00162 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 15,000,000,000 | HKD | | 0.1 | HKD | | 1,500,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 15,000,000,000 | HKD | | 0.1 | HKD | | 1,500,000,000 | | ...

Financial Performance - Gross revenue for the year ended December 31, 2024, was RMB 846.2 million, a decrease of 13.3% from RMB 976.7 million in 2023[10] - Revenue for the same period was RMB 357.5 million, down from RMB 363.8 million, reflecting a decline of 1.0%[10] - The company reported an EBITDA loss of RMB 53.1 million for 2024, compared to a loss of RMB 34.3 million in 2023[10] - Adjusted EBITDA improved to RMB 20.2 million in 2024 from a loss of RMB 6.6 million in 2023[10] - The loss attributable to equity shareholders increased to RMB 538.1 million in 2024, compared to RMB 453.3 million in 2023[10] - Basic loss per share was RMB 46.8 cents in 2024, compared to RMB 38.9 cents in 2023[10] - The total loss for the year was RMB 540.1 million, compared to RMB 460.1 million in 2023, indicating a worsening financial position[17] - The Group's loss from operations (EBIT) for 2024 was RMB 252.6 million, worsening from a loss of RMB 233.0 million in 2023, with the operating profit margin declining from -23.9% to -29.9%[51] Assets and Liabilities - Net assets of the Group decreased to RMB 511.6 million in 2024 from RMB 948.6 million in 2023, a decline of 46.0%[11] - NAV per ordinary share fell to RMB 0.45 in 2024 from RMB 0.83 in 2023, a decrease of 45.8%[11] - The company experienced a net financial cost of RMB 283.7 million in 2024, up from RMB 231.8 million in 2023[17] - Current liabilities decreased to RMB 1,793,243,000 in 2024 from RMB 2,259,514,000 in 2023, a reduction of 20.6%[23] - The net assets as of December 31, 2024, were RMB 511,579,000, down from RMB 948,576,000 in 2023, a decrease of 46.1%[23] - As of December 31, 2024, the Group's consolidated net asset value was RMB 511.6 million, down from RMB 948.6 million as of December 31, 2023[57] Revenue and Sales Metrics - The sales per ticket increased to RMB 1,382 in 2024 from RMB 1,223 in 2023, reflecting a growth of 13.0%[21] - The annualised area efficiency decreased to RMB 9,723 per m² in 2024 from RMB 11,746 per m² in 2023, a decline of 17.2%[21] - The gross rental income and management service fee income increased to RMB 113.0 million in 2024 from RMB 90.1 million in 2023, representing a growth of approximately 25.4%[50] - The annualized revenue per square meter for the year ended December 31, 2024, was RMB 9,723, down from RMB 11,746 for the year ended December 31, 2023[54] Strategic Initiatives - The Group's strategy focused on creating an ideal community for city life, enhancing customer flow and sales through key project-driven growth and online media promotion[27] - The Group plans to enhance customer experience by integrating multiple formats and introducing immersive entertainment and healthy consumption options in 2025[37] - The Group aims to strengthen cost control and improve internal efficiencies, focusing on human resources and site management for better operational performance[38] - The Group will implement precision marketing strategies targeting quality families and young consumers to enhance customer flow and engagement[39] - The Group plans to optimize its cost structure and improve management efficiency to navigate challenges in the PRC retail market[58] Governance and Leadership - Mr. Yao Jiangang was appointed as executive director and chairman of the board on December 14, 2022, bringing extensive experience in business and management[122] - Ms. Wan Qing was appointed as chief financial officer effective September 3, 2023, and has significant experience in finance and mergers and acquisitions[125] - The company has a diverse board with members holding significant experience in finance, investment, and corporate governance, enhancing its strategic decision-making capabilities[138][140] - The company is focused on expanding its market presence and enhancing its investment strategies through experienced leadership[130][134] - Mr. Choon Hoi Kit Edwin appointed as CEO effective from October 15, 2024, succeeding Mr. Qin Chuan who resigned on July 10, 2024[198] Employee and Operational Metrics - The Group's staff costs for the year ended December 31, 2024, were approximately RMB 65,859,000, a decrease from RMB 84,390,000 in the previous year[117] - The number of the Group's staff decreased to 3,296 as of December 31, 2024, from 3,435 in the previous year[116] - The gender distribution among employees is 15% male (495) and 85% female (2,801)[119] - The Group emphasizes fair employment practices and has implemented a merit-based recruitment process[119] - Comprehensive talent recruitment and performance appraisal policies are in place to reward employees and promote career development[162] Compliance and Risk Management - The Group is committed to full compliance with laws and regulations impacting operations, including product safety and customer rights protection[152] - The Group has implemented security measures to mitigate risks associated with burglary, fire, and cash storage, ensuring the safety of human lives and inventories[159] - The Group emphasizes maintaining good relationships with key stakeholders, including employees, customers, and vendors, as essential for long-term success[161] Shareholder and Financial Policies - The Directors do not recommend the payment of a dividend for the year ended December 31, 2024[173] - As of December 31, 2024, the Company's reserves available for distribution to shareholders amounted to RMB 995,255,000, unchanged from December 31, 2023[182] - The Group's share premium as of December 31, 2024, was approximately RMB 1,019,254,000, also unchanged from December 31, 2023[182]

Financial Performance - Gross revenue decreased to RMB 846.2 million in 2024 from RMB 976.7 million in 2023, representing a decline of approximately 13.3%[2] - Revenue for the year was RMB 357.5 million, slightly down from RMB 363.8 million in the previous year, a decrease of about 1.0%[2] - The company reported a total loss of RMB 540.1 million for the year, compared to a loss of RMB 460.1 million in 2023[8] - Loss attributable to equity shareholders increased to RMB 538.1 million in 2024 compared to RMB 453.3 million in 2023, reflecting a rise of approximately 18.7%[2] - Basic loss per share worsened to 46.8 cents in 2024 from 38.9 cents in 2023[2] - Net loss for the year was RMB 540,074,000, an increase from RMB 460,143,000 in 2023, reflecting a 17.4% increase in losses year-over-year[16] - The loss before taxation for 2024 was RMB 550,997,000, compared to a loss of RMB 463,552,000 in 2023, indicating a worsening of approximately 18.8%[64] Operational Efficiency - EBITDA for the year was reported at a loss of RMB 53.1 million, worsening from a loss of RMB 34.3 million in 2023[2] - Adjusted EBITDA improved to RMB 20.2 million in 2024 from a loss of RMB 6.6 million in 2023, indicating a positive turnaround[2] - The Group's loss from operations (EBIT) for the year ended December 31, 2024, was approximately RMB 252.6 million, compared to a loss of RMB 233.0 million in 2023, resulting in an operating profit margin decline from -23.9% to -29.9%[91] - Annualized area efficiency per square meter decreased to RMB 9,723 in 2024 from RMB 11,746 in 2023, indicating reduced revenue generation efficiency[11] Assets and Liabilities - Net assets of the Group decreased to RMB 511.6 million in 2024 from RMB 948.6 million in 2023, a decline of about 46.1%[4] - NAV per ordinary share fell to RMB 0.45 in 2024 from RMB 0.83 in 2023, a decrease of approximately 45.8%[4] - Total assets less current liabilities amounted to RMB 5,804,293,000, an increase from RMB 5,432,573,000 in 2023[22] - Non-current liabilities increased to RMB 5,292,714,000 in 2024 from RMB 4,483,997,000 in 2023[22] - As of 31 December 2024, the Group had net current liabilities of approximately RMB 1,572,570,000[29] Revenue Breakdown - Revenue from sales of goods decreased to RMB 174,183,000 in 2024 from RMB 191,395,000 in 2023, representing a decline of approximately 9.4%[40] - Net income from concession sales decreased to RMB 70,318,000 in 2024 from RMB 82,344,000 in 2023, a decline of approximately 14.6%[40] - Gross rental income increased to RMB 58,202,000 in 2024 from RMB 45,305,000 in 2023, representing an increase of approximately 28.5%[40] - For the year ended December 31, 2024, the reportable segment revenue from department stores and shopping malls was RMB 212,633,000, while supermarkets generated RMB 144,901,000, totaling RMB 357,534,000[59] Financial Costs - Net financial costs increased to RMB 283.7 million in 2024 from RMB 231.8 million in 2023, an increase of about 22.4%[8] - The total borrowing costs for 2024 were RMB 368,252,000, up from RMB 316,338,000 in 2023, reflecting an increase of about 16.4%[66] Staff and Employment - Staff costs decreased to RMB 65,859,000 in 2024 from RMB 84,390,000 in 2023, a reduction of 21.9%[16] - The number of the Group's staff as of December 31, 2024, was 3,296, down from 3,435 as of December 31, 2023[148] - The Group's workforce included 627 directly employed full-time employees as of December 31, 2024, down from 767 in the previous year[148] Future Plans and Developments - The Company plans to diversify its business and develop its brand agency business to enhance profitability and provide more quality choices to consumers[134] - The Xintiandi Department Store project is set to commence business for the entire floor within the year, alongside the expansion of new supermarkets[140] - The Company will integrate consumer finance and internet financial products while analyzing member consumption behavior data[141] Legal and Compliance - The Company is involved in a litigation case regarding the lease of the Daming Palace Shopping Mall, claiming RMB 70 million in earnest money and related interests[118] - The first hearing of the litigation case was held on April 30, 2024, with no substantial progress reported as of July 26, 2024[120] - The Audit Committee reviewed the annual results for the year ended December 31, 2024, and confirmed compliance with applicable accounting standards and legal requirements[166]

Financial Performance - Gross revenue for the six months ended June 30, 2024, was RMB 496.8 million, a decrease of 3.0% from RMB 512.3 million in the same period of 2023[2] - Revenue increased to RMB 225.4 million, up 18.4% from RMB 190.4 million year-on-year[2] - EBITDA improved to RMB 24.3 million compared to a loss of RMB 7.1 million in the previous year[2] - Loss attributable to equity shareholders was RMB 238.5 million, compared to RMB 200.1 million in the same period last year, reflecting a 19.2% increase in losses[2] - Basic loss per share increased to 20.8 cents from 17.0 cents year-on-year[2] - Loss for the period was RMB 239.2 million, compared to RMB 204.3 million in the same period last year, indicating a 17.1% increase in losses[10] - The company reported a loss of RMB 239,246,000 for the six months ended June 30, 2024, compared to a loss of RMB 204,292,000 for the same period in 2023, representing an increase in loss of approximately 17.1%[12] - Total comprehensive income for the period was RMB (213,226,000), which is a decline from RMB (169,081,000) in the previous year, indicating a worsening of approximately 26.1%[13] - The Group's loss from operations for the six months ended 30 June 2024 was RMB103.3 million, slightly higher than the loss of RMB102.9 million for the same period in 2023, with the operating profit margin changing from -20.1% to -21.1%[81] - The Group's total loss for the six months ended 30 June 2024 was RMB239.2 million, compared to RMB204.3 million for the same period in 2023, influenced by a decrease in operating loss and an increase in net finance expenses[81] Assets and Liabilities - Net assets of the Group decreased to RMB 735.4 million from RMB 948.6 million as of December 31, 2023[3] - NAV per ordinary share fell to RMB 0.64 from RMB 0.83[3] - Current liabilities increased to RMB 2,381,599,000 from RMB 2,259,514,000, representing an increase of about 5.4%[14] - Cash at bank and on hand decreased to RMB 7,788,000 from RMB 11,534,000, a decline of approximately 32.5%[14] - The net current liabilities stood at RMB (2,066,153,000), worsening from RMB (1,967,172,000) at the end of 2023, reflecting an increase in liabilities of approximately 5%[14] - As of June 30, 2024, the Group's current liabilities exceeded its current assets by approximately RMB2,066,153,000[20] - The Group's consolidated net asset value was RMB735.4 million, down from RMB948.6 million as of 31 December 2023[82] - The current ratio as of 30 June 2024 remained at 0.13, unchanged from 31 December 2023, while the gearing ratio increased to 8.25 from 5.06[82] Revenue Sources - Revenue from sales of goods was RMB 100,681,000, down from RMB 104,709,000, representing a decline of 3.0%[24] - Net income from concession sales increased significantly to RMB 67,001,000, up 53.6% from RMB 43,553,000 in the previous year[24] - Management and administrative service fee income rose to RMB 27,667,000, compared to RMB 22,348,000, marking a growth of 23.5%[24] - Gross rental income for the period was RMB 30,062,000, an increase from RMB 19,768,000, reflecting a growth of 52.0%[24] - Revenue from contracts with customers recognized at a point in time was RMB 167,682,000, up from RMB 148,262,000, indicating an increase of 13.2%[24] - Revenue recognized over time was RMB 57,729,000, compared to RMB 42,116,000, which is a growth of 37.1%[24] Operational Efficiency - Sales per ticket rose to RMB 1,419, an increase of 12.8% from RMB 1,258[6] - Annualised area efficiency decreased to RMB 9,795 per m² from RMB 12,732 per m²[6] - Employee costs decreased to RMB 31,361,000 for the six months ended June 30, 2024, down from RMB 43,273,000 in the same period of 2023, representing a reduction of approximately 27.5%[43] - Other operating expenses totaled RMB 7,134,000 for the six months ended June 30, 2024, a decrease of 63.0% from RMB 19,295,000 in the same period of 2023[43] Financing and Support - The controlling shareholder, Qujiang Financial Holdings, has committed to provide additional loan facilities of approximately RMB26 billion to the Group[20] - Qujiang Financial Holdings extended its loans to the Group by approximately RMB2,168,422,000 for two years and granted additional long-term loans of approximately RMB100,557,349.38 during the six months ended June 30, 2024[20] - The directors believe that the Group will have adequate funds to meet its liabilities for at least twelve months from the end of the reporting period[21] - The financial report is prepared on a going concern basis due to the financial support from Qujiang Financial Holdings[21] Market and Strategic Developments - The company aims to enhance its marketing strategies and introduce life scenario brands to adapt to changing consumer market trends[74] - The themed marketing activities at Century Ginwa New Block have successfully driven consumer engagement and improved performance[70] - The company expects market vitality to further increase in the second half of 2024 as economic recovery continues[68] - The total retail sales of consumer goods in China reached RMB 23.6 trillion in the first half of 2024, reflecting a year-on-year increase of 3.7%[68] Legal and Compliance Matters - Century Ginwa Ding Yao filed a civil complaint claiming the lease agreement for Daming Palace Shopping Mall be ruled as terminated, seeking RMB 70 million in earnest money and relevant interests from the lessor[96] - The litigation case regarding the Daming Palace Shopping Mall had its first hearing on 30 April 2024, with no substantial progress made as of 26 July 2024[96] - The audit committee has reviewed the unaudited interim results for the six months ended 30 June 2024 prior to their approval by the Board[104] - The Company has adopted most of the code provisions as stated in the Corporate Governance Code and has complied with all relevant code provisions during the six months ended 30 June 2024[104]

Financial Performance - Gross revenue for the year ended December 31, 2023, was RMB 976.7 million, an increase from RMB 847.8 million in 2022, representing a growth of approximately 15.2%[11] - Revenue decreased to RMB 363.8 million in 2023 from RMB 376.1 million in 2022, indicating a decline of about 3.1%[11] - The company reported an EBITDA loss of RMB 34.3 million for 2023, compared to a loss of RMB 23.0 million in 2022, reflecting a worsening of approximately 49.6%[11] - Loss attributable to equity shareholders increased to RMB 453.3 million in 2023 from RMB 361.7 million in 2022, marking an increase of around 25.3%[11] - Basic loss per share rose to 38.9 cents in 2023 from 15.5 cents in 2022, indicating a significant increase in losses per share[11] - The Group's total loss for the year ended December 31, 2023, was RMB 460.1 million, up from RMB 378.9 million in 2022[46] Assets and Liabilities - Net assets of the Group decreased to RMB 948.6 million in 2023 from RMB 1,507.0 million in 2022, a decline of approximately 37.0%[11] - NAV per ordinary share fell to 0.83 yuan in 2023 from 1.31 yuan in 2022, representing a decrease of about 36.6%[11] - As of December 31, 2023, total non-current assets amounted to RMB 7,399,745,000, showing a slight increase from RMB 7,353,273,000 in 2022[17] - Current assets increased to RMB 292,342,000 from RMB 199,832,000 in 2022, representing a growth of 46.3%[17] - Current liabilities decreased significantly to RMB 2,259,514,000 from RMB 4,442,302,000 in 2022, a reduction of 49.1%[17] Operational Efficiency - Sales per ticket increased to RMB 1,223 in 2023 from RMB 1,007 in 2022, showing an increase of approximately 21.5%[14] - Annualised area efficiency decreased to RMB 11,746 per m² in 2023 from RMB 12,400 per m² in 2022, reflecting a decline of about 5.3%[14] - The Group's gross rental income and management service fee income increased to RMB 90.1 million in 2023 from RMB 68.6 million in 2022, attributed to new store rentals[44] - The Group's loss from operations (EBIT) for the year ended December 31, 2023, was RMB 233.0 million, compared to a loss of RMB 211.6 million in 2022[45] Market Strategy - The company is focusing on enhancing operational efficiency and exploring new market opportunities to drive future growth[10] - The Company is focusing on the Xi'an and Xianyang markets, enhancing trade and investment attraction, and improving operational capabilities[21] - The Company aims to strengthen market share by integrating its department store and supermarket operations in the Xianyang region[29] - The Company aims to diversify its business and introduce well-known domestic and foreign brands to the northwest market, enhancing consumer choices[71] - The Company will continue to expand its presence in second- and third-tier cities based on successful experiences in trendy department stores and supermarkets[72] Corporate Governance and Management - The Group's management team includes experienced professionals with backgrounds in finance, investment, and retail management[99][100] - The company emphasizes the importance of corporate governance and compliance, as reflected in the roles of its independent directors[110] - The company has a commitment to enhancing its financial reporting and audit processes through its audit committee[110] - The independent non-executive Directors confirmed their independence for the year ended December 31, 2023, in accordance with the Listing Rules[171] Employee and Stakeholder Relations - As of December 31, 2023, the Group's total staff increased to 3,435 from 2,000 in 2022, with 767 directly employed full-time employees[90] - The gender distribution among employees is approximately 17% male (580) and 83% female (2,855)[90] - The Group emphasizes fair employment practices, ensuring merit-based recruitment without gender discrimination[86] - The Group values relationships with key stakeholders, including employees and customers, to ensure long-term success and profit growth[134][138] Risk Management and Compliance - The Group's risk management strategies address credit, interest rate, liquidity, currency, and equity price risks[133] - The Group emphasizes compliance with laws and regulations impacting operations, including product safety and customer rights protection[125][130] - The Group has established an Environmental, Social and Governance (ESG) Committee to promote sustainable development and monitor ESG-related matters[123][129] Future Initiatives - The Company plans to implement five strategic initiatives for 2024, including brand adjustment and active expansion of the Tiandi Department Store project[75][76] - The Company introduced a third-party operation and management high-tech store at the beginning of 2024 to enhance revenue growth[34] Shareholder Information - Hony Capital, the second largest shareholder, holds 28.07% of the Company's ordinary share capital and has contributed US$60 million for business expansion[82] - The directors do not recommend the payment of a dividend for the reporting period[84] - As of December 31, 2023, the Company's reserves available for distribution to shareholders amounted to RMB 995,255,000, unchanged from the previous year[156]