M ® 茂業國際控股有限公司 MAOYE INTERNATIONAL HOLDINGS LIMITED Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立的有限公司 (Stock Code 股份代號 : 848) INTERIM REPORT 中期報告 This interim report, in both English and Chinese versions, is available on the Company's website at www.maoye.cn. Shareholders may at any time change their choice of language(s) (either English only or Chinese only or both languages) of the corporate communications of the Company (including but not limited to annual reports, interim reports ...

Financial Performance - Total retail sales reached RMB 4,524.5 million[1] - Sales revenue decreased by 13.4% year-on-year to RMB 3,363.7 million[1] - Total operating income grew by 7.1% year-on-year to RMB 3,018.3 million[1] - Net profit increased by 20.3% year-on-year to RMB 115.6 million[1] - Net profit attributable to equity holders of the parent company increased to RMB 100,935 thousand in 2024 from RMB 83,501 thousand in 2023, a growth of 20.9%[18][19] - Operating profit rose to RMB 628,878 thousand in 2024 from RMB 709,286 thousand in 2023, a decrease of 11.3%[18][19] - Total revenue increased to RMB 2,493,460 thousand in 2024 from RMB 2,249,230 thousand in 2023, an increase of 10.9%[18][19] - Basic earnings per share increased to RMB 0.0196 in 2024 from RMB 0.0162 in 2023, a growth of 21.0%[25] - The company's net profit for the first half of 2024 was RMB 115.6 million, an increase of 20.3% compared to the same period in 2023[53] - Operating profit for the first half of 2024 was RMB 628.9 million, a decrease of 11.3% compared to the same period in 2023, mainly due to increased expected credit impairment losses and decreased fair value gains on investment properties[50] Rental and Property Income - Rental income increased by 14.1% year-on-year to RMB 632.9 million[1] - Investment properties increased slightly to RMB 21,822.172 million from RMB 21,806.780 million at the end of 2023[5] - Shop rental income increased by RMB 38,196 thousand (13.4%) to RMB 322,449 thousand for the six months ended June 30, 2024, compared to RMB 284,253 thousand in the same period of 2023[16] - Investment property rental income increased by RMB 45,144 thousand (14.0%) to RMB 368,230 thousand for the six months ended June 30, 2024, compared to RMB 323,086 thousand in the same period of 2023[16] - The company's total rental income increased by 14.1% year-over-year in the first half of 2024, with some stores showing improved rental income and gross margins[33] - Rental income increased by 14.1% year-over-year to RMB 632.9 million[41] Sales and Revenue Breakdown - Direct sales revenue decreased by RMB 131,885 thousand (16.0%) to RMB 691,236 thousand for the six months ended June 30, 2024, compared to RMB 823,121 thousand in the same period of 2023[16] - Property sales revenue increased significantly by RMB 362,269 thousand (119.8%) to RMB 664,624 thousand for the six months ended June 30, 2024, compared to RMB 302,355 thousand in the same period of 2023[16] - Department store revenue decreased to RMB 1,630,277 thousand in 2024 from RMB 1,761,329 thousand in 2023, a decline of 7.4%[18][19] - Property development revenue increased significantly to RMB 721,657 thousand in 2024 from RMB 354,796 thousand in 2023, a growth of 103.4%[18][19] - Total customer contract revenue increased by RMB 244,230 thousand (10.9%) to RMB 2,493,460 thousand for the six months ended June 30, 2024, compared to RMB 2,249,230 thousand in the same period of 2023[16] - Franchised counter sales accounted for 66.9% of total sales and rental income, with a total of RMB 2,672.5 million, a decrease of 12.7% year-over-year[41] - Direct sales revenue was RMB 691.2 million, a decrease of 16.0% compared to the same period in 2023[41] Assets and Liabilities - Total assets decreased to RMB 47,544.467 million from RMB 49,043.358 million at the end of 2023[5] - Total liabilities decreased to RMB 31,890.685 million from RMB 33,120.868 million at the end of 2023[6] - Total equity attributable to equity holders of the parent company remained stable at RMB 460,153 thousand as of June 30, 2024, unchanged from December 31, 2023[7] - Total reserves decreased by RMB 275,731 thousand (2.1%) to RMB 12,707,080 thousand as of June 30, 2024, compared to RMB 12,982,811 thousand at the end of 2023[7] - Total equity decreased by RMB 268,708 thousand (1.7%) to RMB 15,653,782 thousand as of June 30, 2024, from RMB 15,922,490 thousand at the end of 2023[7] - Total liabilities and equity decreased by RMB 1,498,891 thousand (3.1%) to RMB 47,544,467 thousand as of June 30, 2024, compared to RMB 49,043,358 thousand at the end of 2023[7] - Current liabilities net amount stood at RMB 10,433,096 thousand as of June 30, 2024, with RMB 5,545,505 thousand in bank loans due within 12 months and RMB 6,531,678 thousand in current balances payable to related parties[9] - Total bank borrowings as of June 30, 2024, were RMB 11,152.7 million, a decrease from RMB 11,797.2 million as of December 31, 2023[56] - Interest-bearing debt to asset ratio and net interest-bearing debt to equity ratio were 23.5% and 66.7%, respectively, as of June 30, 2024[56] Cash Flow and Financing - Cash and cash equivalents decreased to RMB 715.912 million from RMB 722.822 million at the end of 2023[5] - Net cash and cash equivalents decreased by RMB 6.9 million to RMB 715.9 million as of June 30, 2024, compared to RMB 722.8 million as of December 31, 2023[54] - Net cash inflow from operating activities was RMB 891.0 million, while net cash outflow from investing activities was RMB 22.4 million, including RMB 62.6 million for property, plant, and equipment purchases[54] - Net cash outflow from financing activities was RMB 875.6 million, including RMB 3,637.5 million for bank loan repayments and RMB 2,993.1 million from new bank loans[55] - The company's financing costs decreased by 28.7% year-over-year to RMB 347.2 million, driven by a reduction in interest-bearing liabilities and lower interest rates[51] - Total interest expense decreased to RMB 347,242 thousand in 2024 from RMB 486,918 thousand in 2023, a reduction of 28.7%[22] Expenses and Taxes - Current tax expense increased to RMB 144,786 thousand in 2024 from RMB 113,725 thousand in 2023, a growth of 27.3%[23] - The company's tax expenses increased by 27.3% year-over-year to RMB 144.8 million, primarily due to higher operating profit and land value-added tax[52] - Capital expenditure decreased to RMB 160,016 thousand in 2024 from RMB 481,557 thousand in 2023, a reduction of 66.8%[18][19] - Interest income increased to RMB 4,833 thousand in 2024 from RMB 2,235 thousand in 2023, a growth of 116.2%[21] Accounts Receivable and Payable - Accounts receivable within 90 days increased to RMB 18,799 thousand in June 2024 from RMB 17,355 thousand in December 2023, showing a growth of 8.3%[26] - Accounts receivable over 360 days increased to RMB 25,906 thousand in June 2024 from RMB 20,382 thousand in December 2023, indicating a rise of 27.1%[26] - Accounts payable within 90 days increased to RMB 937,842 thousand in June 2024 from RMB 869,889 thousand in December 2023, reflecting a growth of 7.8%[27] Market and Economic Context - China's GDP in the first half of 2024 reached RMB 61.68 trillion, with a year-on-year growth of 5.0%[28] - Total retail sales of consumer goods in the first half of 2024 amounted to approximately RMB 23.6 trillion, with a year-on-year growth of 3.7%[28] - Online retail sales in the first half of 2024 reached RMB 7.0 trillion, with a year-on-year growth of 9.8%[28] Store Operations and Strategy - The company operates 49 stores across 21 cities, with a total building area of 3.1 million square meters, of which 78.1% is self-owned property[30] - The company's Huabei store achieved a total sales of RMB 30.92 million in cosmetics, showing a continuous growth trend[31] - The company introduced new brands such as Huawei flagship store, Uniqlo, and UR in the Southwest region, and KKV collection store, Mi Cun Mixed Rice, and Xi Ta Old Lady in Qinhuangdao Maoye Tiandi[31] - The company implemented a "one store, one strategy" approach, expanding the dining area and introducing 36 popular brands at the Qinhuangdao Maoye Tiandi store, improving both store efficiency and revenue[32] - The company optimized its supply chain by reducing intermediaries, adopting AI technology, and increasing self-operation of goods and services, leading to cost reduction and efficiency improvement[32] - The company's Chengdu Yanshikou Maoye Tiandi North Area reconstruction project's conceptual design was approved by the Chengdu Urban Planning Committee, with construction progress to be steadily advanced[36] - The company's top-performing store, Shenzhen Huaqiangbei, generated sales and rental income of RMB 713.5 million, with a store age of 20.8 years and a business area of 63,243 square meters[37] Digital Transformation and Online Sales - The "Maolehui" platform achieved a total sales of RMB 105 million in the first half of 2024, with 66,000 new members added and a new member conversion rate of 17%[35] - The "Maoyuehui" membership management system added 454,600 new members, reaching a total of 18.36 million members by June 30, 2024, with total member spending reaching RMB 1.78 billion[35] - The company's online cosmetics sales remained strong, with brands like Lancôme, Estée Lauder, Shiseido, and La Mer exceeding RMB 10 million in sales, and over 20 brands surpassing RMB 1 million in sales[35] - The "Maolehui" mini-program generated a total transaction volume of RMB 24.04 million, with 12 "Cloud Store" events attracting nearly RMB 2 million in advertising investment[35] - The company's TikTok live-streaming platform achieved a daily sales peak of RMB 23,000, with the Armani lip gloss selling over 500 units in a single day[35] - The company's Xiaohongshu platform achieved a single-day sales record of over RMB 600,000 in its first collaboration with the brand DARPHIN[35] - The company plans to focus on digital transformation, exploring new digital operation models, and enhancing online and offline business integration to drive future growth[39] Other Financial Metrics - Total sales and rental income for the first half of 2024 was RMB 3,996.7 million, a decrease of 9.9% compared to the same period in 2023, primarily due to the transition from department store direct sales and franchised counters to shopping center leasing[40] - The company recorded a net foreign exchange loss of RMB 0.8 million during the reporting period, with no foreign exchange risk hedging arrangements in place[58] - No interim dividend was recommended for the six months ended June 30, 2024[59] - The company maintained sufficient public float as required by the listing rules[63] - The interim results were reviewed by PricewaterhouseCoopers in accordance with Hong Kong Standard on Review Engagements 2410[62]

Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立的有限公司 NORY (0){ CONTENTS | --- | --- | --- | --- | --- | |----------|-------|---------------------------------------------|------------------------------------------------|-------| | | | | | | | CONTENTS | 2 | Corporate Profile | | | | | | 公司簡介 | | | | 目錄 | 3 | Mission Statement 公司使命 | | | | | 4 | Financial Highlights 財務摘要 | | | | | 6 | Retail Network 零售網絡 | | | | | 9 | Chairman's Statement 董事長報告書 | | | | | 11 | 管理層討論與分析 | Management Discuss ...

MAOYE INTERNATIONAL HOLDINGS LIMITED 茂業國際控股有限公 司 （股份代號：848） （於開曼群島註冊成立的有限公司） | --- | --- | |-------|-----------------------------------------------------------------------------| | | | | 摘要 | | | • | 門店零售總額（含租賃商戶）達到人民幣 13,926.3 百萬元 | | • | 銷售所得款項為人民幣 7,402.8 百萬元，同比下降 6.7% | | • | 租賃收入總額為人民幣 1,124.2 百萬元，同比增長 6.9% | | • | 本年錄得淨虧損為人民幣 78.2 百萬元，同比下降 138.1% | | • | 剔除對聯營企業深圳優依購電子商務有限公司計提減值的影響，本年淨利潤 | | | 為人民幣 72.3 百萬元 | | • | 年內每股基本虧損為人民幣 1.9 分，董事會建議派付截至 2023 年 12 月 31 日止年 | | | 度的末期股息每股現金 0.75 港仙（ 2022 年度：每股現金 ...

Certificates of ownership in respect of certain buildings of the Group with a net carrying amount of approximately RMB147,670,000 (31 December 2022: RMB150,583,000) as at 30 June 2023 have not yet been issued by the relevant PRC authorities. The Group is in the process of obtaining the relevant certificates. 本集團的土地及樓宇乃根據中期租約持 有，並位於中國大陸。本集團為計息銀行 貸款作抵押的土地及樓宇建築詳情載於 附註22(b)。 部分本集團旗下樓宇之房產證仍未從中 國有關部門取得，其賬面淨值於2023年6 月30日約為人民幣147,670,000元（截至 2022年12月31日為150,583,000元）。本 集團仍在辦理相關權證之手續。 (8 023 INTERIM 20 REPORT 中期報告 æ ...

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，並明確表示概不就因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 MAOYE INTERNATIONAL HOLDINGS LIMITED 茂 業 國 際 控 股 有 限 公司 （於開曼群島註冊成立的有限公司） 848 （股份代號： ） 2023 6 30 截至 年 月 日止六個月之中期業績 摘要 • 7,882.2 門店零售總額達人民幣 百萬元 • 4,437.9 10.6% 銷售所得款項及租賃收入總額為人民幣 百萬元，同比下降 • 2,819.4 6.9% 經營收入總額為人民幣 百萬元，同比下降 • 96.0 11.8% 淨利潤為人民幣 百萬元，同比增長 • 1.6 2023 6 30 期內每股基本盈利為人民幣 分，董事會不建議就截至 年 月 日止六 ...

(Stock Code 股份代號 : 848) 目錄 CONTENTS 公司簡介 INTELLIGENCE CREATES A HAPP 'LIFE 智 慧 創 造 幸 福 生 活 財務摘要 For the years ended 31 December 100000 (RMB million) （人民幣百萬元） (RMB million) （人民幣百萬元） ANNUAL REPORT 2022 年度報告 MAOYE INTERNATIONAL HOLDINGS LIMITED 茂業國際控股有限公司 5 No. Store Name Province RETAIL NETWORK 零售網絡 | --- | --- | --- | --- | --- | --- | --- | |-------|--------------------------------------------------|-------------------------|-----------------------|--------------------------|----------------|--------------- ...

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。 MAOYE INTERNATIONAL HOLDINGS LIMITED 茂 業 國 際 控 股 有 限 公司 （於開曼群島註冊成立的有限公司） 848 （股份代號： ） 2022 12 31 截至 年 月 日止年度全年業績公告 摘要 • 14,461.6 門店零售總額達到人民幣 百萬元 • 8,989.4 22.2% 銷售所得款項及租賃收入總額為人民幣 百萬元，同比下降 • 5,396.0 15.7% 經營收入總額為人民幣 百萬元，同比下降 • 205.2 85.5% 本年錄得淨利潤為人民幣 百萬元，同比增長 • 4.44 2022 12 31 年內每股基本盈利為人民幣 分，董事會建議派付截至 年 月 日止 ...

茂業國際控股有限公司 MAOYE INTERNATIONAL HOLDINGS LIMITED Incorporated in the Cayman Islands with limited liability 於 開 曼 群 島 註 冊 成 立 的 有限 公 司 (Stock Code 股份代號 : 848) This interim report, in both English and Chinese versions, is available on the Company's website at www.maoye.cn. Shareholders may at any time change their choice of language(s) (either English only or Chinese only or both languages) of the corporate communications of the Company (including but not limited to annual reports, interim reports and circular ...

茂業國際控股有限公司 MAOYE INTERNATIONAL HOLDINGS LIMITED Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立的有限公司 (Stock Code 股份代號 : 848) Annual Report 度 報 告 ge 2021 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------------|-------|-------|-------| | | | | | | 茂 業 天 地 | | | | | | | | | | | | | MOL | | | | | | | | | | | | | M�I | | | | | | | | CONTENTS 目錄 | --- | --- | |-------|------------------------------------------------------------------------ ...