CONTENTS 目錄 38 INDEPENDENT AUDITOR'S REPORT 獨立核數師報告 CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 2 CORPORATE INFORMATION 公司資料 5 FINANCIAL HIGHLIGHTS 財務摘要 6 MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 GENERAL INFORMATION 30 一般資料 40 簡明綜合損益及其他全面收益表 41 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 簡明綜合財務狀況表 43 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 簡明綜合權益變動表 44 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS 簡明綜合現金流量表 45 NOTES TO THE CONDENSED CONSOLID ...

B_table indent_4.5 mm N_table indent_4 mm 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。 C.banner International Holdings Limited 千 百 度 國 際 控 股 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：1028） 截至2023年6月30日止六個月的中期業績公告 中期業績 千百度國際控股有限公司（「本公司」或「千百度」）董事（「董事」）會（「董事會」）欣然宣 佈本公司及其附屬公司（統稱「本集團」）截至2023年6月30日止六個月（「報告期」）之 未經審核中期簡明綜合業績連同2022年同期的比較數字如下： 財務摘要 截至6月30日止六個月 2023年 2022年 人民幣千元 人民幣千元 （未經審核） （未經審核） 收益 787,909 715,141 毛利 461,179 405,673 除所得稅前溢利 ...

Company Overview - C.banner International Holdings Limited is a leading retailer of mid-to-premium women's formal and casual footwear in China[4]. - The Group operates self-developed brands including C.banner, EBLAN, sundance, MIO, Badgley Mischka, and natursun, targeting a diverse customer base across first- to third-tier cities[5]. - C.banner aims to uphold a diversified brand strategy and product portfolio to cater to various market segments[6]. - The Group's commitment to brand values of elegance, charm, and fashion has made it popular in the market[6]. Online Business Expansion - The Group is actively expanding its online business to enhance its customer base and sales distribution network[5]. - The company is focusing on expanding online operations and increasing online marketing to cope with declining domestic sales in the footwear industry[34]. - The company has integrated resources across business units to enhance online shopping experiences and adapt to changing consumer habits due to the pandemic[36]. - The company is committed to optimizing its online platform and expanding online channels to adapt to the rise of social commerce, resulting in growing sales contributions from social media[48]. Financial Performance - The financial highlights and performance metrics for 2022 are detailed in the annual report, indicating the company's growth trajectory[2]. - Revenue for the year ended December 31, 2022, was RMB 1,381,742, a decrease of 15.2% compared to RMB 1,629,120 in 2021[23]. - Gross profit for 2022 was RMB 767,060, down 18.7% from RMB 943,286 in 2021, resulting in a gross profit margin of 55.5%, down from 57.9%[23]. - Profit before income tax decreased to RMB 17,335, a decline of 65.7% from RMB 50,484 in 2021[23]. - The net profit margin for 2022 was 1.1%, down from 1.8% in 2021, with profit for the year attributable to owners of the company at RMB 14,789, a decrease of 45.8% from RMB 27,346 in 2021[23]. - Average inventory turnover days increased to 280.3 days in 2022 from 219.2 days in 2021, indicating slower inventory movement[23]. Market Challenges and Consumer Trends - The women's shoe segment faces challenges from changing consumer preferences towards comfort and casual styles, necessitating faster product iteration and enhanced R&D capabilities[42]. - In 2022, the company maintained profitability despite challenges in the women's footwear sector, which is facing economic and demographic headwinds, as well as shifts in consumer preferences towards more casual footwear[45]. - Consumer Confidence Index remained at an all-time low for nine consecutive months since April 2022, indicating a decline in consumption capacity and willingness[195]. - The retail industry faced significant challenges during the traditional peak sales season due to COVID-19 disruptions, impacting income[196]. Strategic Development and Future Outlook - Future outlook includes continued market expansion and innovation in product development to maintain competitive advantage[6]. - The management team is optimistic about market performance in 2023, anticipating a rebound in consumer spending as economic activities resume following the relaxation of COVID-19 restrictions[57]. - The company recognizes the need for agility in the footwear and apparel industry, supported by technological advancements and efficient supply chain management to meet changing consumer demands[55]. - The company is committed to organizational restructuring to reignite growth momentum amidst long-term economic challenges and a complex operating environment[199]. Governance and Compliance - The group has complied with all relevant laws and regulations concerning labor rights, environmental protection, and product safety during the year ended December 31, 2022[73]. - The Company has established a remuneration committee to review the emolument policy and structure for all Directors and senior management, considering the Group's operating results and individual performance[106]. - The independent non-executive Directors confirmed compliance with the non-competition deed by substantial shareholders during the review year[153]. Employee and Talent Management - The company is committed to nurturing and retaining talent through initiatives and benefits, aiming to build a diverse, multidisciplinary team to drive growth momentum[56]. - The Group recognizes employees as valuable assets and is dedicated to providing a pleasant working environment and competitive remuneration[74]. - The Share Award Scheme was adopted on August 31, 2015, to recognize employee contributions and provide incentives for retention and development[154]. Shareholder Information - As of December 31, 2022, the Company had no reserves available for distribution, consistent with the position as of December 31, 2021[95][98]. - The company has a diverse shareholder base, with substantial interests from various entities, including Port Bliss Holdings Limited[129]. - The total number of shares held by substantial shareholders includes both long and short positions, with significant interests disclosed under the Securities and Futures Ordinance[128].

B_table indent_4.5 mm N_table indent_4 mm 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。 C.banner International Holdings Limited 千 百 度 國 際 控 股 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：1028） 截至2022年12月31日止年度的 全年業績公告 全年業績摘要 截至12月31日止年度 2022年 2021年 人民幣千元 人民幣千元 收益 1,381,742 1,629,120 毛利 767,060 943,286 除所得稅前溢利 17,335 50,484 所得稅開支 (2,569) (21,694) 年內溢利 14,766 28,790 下列者應佔年內溢利╱（虧損）： 本公司擁有人 14,789 27,346 ...

| --- | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------|-------|---------------------------| | | | | | | | 2022 | | C.Banner 千百度國際控股有限公司 (Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） C. banner International Holdings Limited | | 中期報告 Interim Report | | Stock Code 股份代號 : 1028 | | | CONTENTS 目錄 2 CORPORATE INFORMATION 公司資料 5 FINANCIAL HIGHLIGHTS 財務摘要 6 MANAGEMENT DISCUSSION ...

Financial Performance - C.banner reported a significant increase in revenue, achieving a total of RMB 1.2 billion, representing a year-on-year growth of 15%[1] - The company reported a gross margin of 45%, which is an improvement of 5 percentage points from the previous year[1] - Revenue for the year ended 31 December 2021 was RMB 1,629,120, an increase of 5.8% from RMB 1,539,368 in 2020[16] - Gross profit for 2021 was RMB 943,286, representing a gross profit margin of 57.9%, up from 55.9% in 2020[16] - Net profit attributable to equity holders of the Company was RMB 27,346, a significant increase from RMB 6,179 in 2020[16] - Operating profit margin improved to 3.1% in 2021, compared to 1.0% in 2020[16] - Basic and diluted earnings per share for 2021 were both RMB 1.32, up from RMB 0.30 in 2020[16] - Liquidity ratio increased to 388.3 in 2021, compared to 340.3 in 2020, indicating improved financial stability[16] - Average inventory turnover days decreased to 219.2 days in 2021 from 228.5 days in 2020, suggesting more efficient inventory management[16] - Average account receivable turnover days improved to 41.8 days in 2021, down from 58.2 days in 2020, indicating better collection efficiency[16] Market Expansion and Strategy - The company expanded its customer base, reaching over 1 million active users across its online platforms, which is a 20% increase compared to the previous year[1] - C.banner plans to launch three new product lines in the upcoming fiscal year, focusing on eco-friendly materials and innovative designs[1] - The company aims to increase its market presence by opening 50 new retail stores in first-tier cities, targeting a 10% growth in physical sales[1] - The company plans to open approximately 40-50 shopping centers in provincial capital cities, particularly in the advantageous eastern region of China next year[31] - The company will focus on developing outlet stores to increase market presence and coverage while enhancing same-store sales growth[29] - The company is exploring new growth drivers to maximize its resource advantages and reinforce its leading position in the footwear and fashion industry[31] - The company aims to enhance its online and offline shopping experience by reallocating resources and optimizing its online platform to adapt to changing consumer habits due to the pandemic[29] - The company is committed to sustainability, with plans to reduce carbon emissions by 15% over the next three years through improved supply chain practices[1] E-commerce and Online Sales - C.banner's online sales accounted for 30% of total revenue, reflecting a 10% increase in e-commerce performance[1] - Sales from social media channels are expected to continue gaining momentum in the next year as the online social networking world grows[29] - The company plans to collaborate with popular live streamers to enhance its market presence and adapt to changing consumer behaviors[159] - The company is reallocating resources to optimize its online platform and expand online channels in response to shifting consumer habits due to the pandemic[159] - The company is focusing on enhancing same-store sales growth for offline stores while actively promoting online sales[169] Product Development and Quality - C.banner is investing RMB 100 million in research and development for new comfort technology aimed at enhancing footwear performance[1] - The company will continue to enhance product quality across the production chain, including R&D, product design, and logistics[34] - The company has adopted a multi-brand strategy to better target varying consumer preferences and market trends[182] - The company plans to invest more resources in product research and development to appeal to younger consumers, emphasizing trendy designs and comfort[192] - Continuous improvements in production efficiency and product quality are prioritized, with the adoption of the latest technologies in the production process[197] Customer Engagement and Experience - The company recognizes the importance of customer service in the footwear industry, actively seeking customer feedback to enhance the shopping experience[200] - The company has built a reputation for providing premium service through a comprehensive online and offline retail network, which forms its core strength[31] - The company is focused on creating an exceptional online and offline shopping experience to navigate the current challenging business environment[159] Corporate Governance and Compliance - The Group complied with all relevant laws and regulations concerning labor rights, environmental protection, product safety, and health for the year ended December 31, 2021[51] - The Group considers employees as valuable assets and is committed to providing a pleasant working environment and competitive remuneration packages[46] - The Group's management structure will be further adjusted to optimize team structure and enhance operational efficiency to navigate adverse market conditions[35] - The Directors confirmed their independence in accordance with the Listing Rules of the Hong Kong Stock Exchange[64] Economic Outlook and Industry Trends - The global economy is expected to slow down from a growth rate of 5.5% in 2021 to 4.1% in 2022 due to ongoing challenges[22] - China's retail sales rose 12.5% in 2021, recovering from a 3.9% decline in 2020, reflecting resilience in consumer spending despite uncertainties[23] - The pandemic has led to a weakening of customer demand, particularly in major expenditure areas like mortgage payments and food[156] - Livestream e-commerce sales in China reached US$171 billion in 2020, with projections of US$423 billion in 2022, indicating a significant growth trajectory[159] - The demand for leisure shoes is rapidly growing, particularly among consumers aged 18 to 45, who prioritize comfort and unique designs[183]

Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 819,622,000, representing an increase of 21.1% from RMB 676,782,000 in the same period of 2020[14]. - Gross profit for the same period was RMB 492,278,000, up 27.4% from RMB 386,475,000 year-on-year[14]. - Profit before income tax was RMB 58,956,000, compared to a loss of RMB 22,762,000 in the prior year[14]. - Profit for the period attributable to owners of the company was RMB 35,789,000, a significant recovery from a loss of RMB 23,343,000 in the previous year[14]. - Basic earnings per share for the period was 1.72 RMB cents, compared to a loss of 1.13 RMB cents per share in the same period last year[14]. - For the six months ended June 30, 2021, the Group recorded a profit of RMB 36.5 million for the period, a significant improvement from a loss of RMB 23.7 million in the same period last year[95]. - Gross profit increased by 27.4% to RMB 492.3 million, with a gross profit margin of 60.1% as of June 30, 2021[101]. - The total comprehensive income for the period was RMB 36,327,000, compared to a loss of RMB 23,705,000 in the previous year[166]. - The profit for the period was RMB 36,504,000, a significant recovery from a loss of RMB 23,705,000 in the same period of 2020[193]. Market Conditions and Strategies - The company noted that global market recovery was supported by vaccination campaigns and proactive government measures against COVID-19[19]. - The national government of China announced free vaccinations for citizens, contributing to a solid base for economic rebound[19]. - The company is focusing on R&D to adapt to changing market conditions and consumer behavior post-pandemic[19]. - Management highlighted plans for market expansion and potential new product launches in response to recovering consumer demand[19]. - The company is exploring strategic partnerships and acquisitions to enhance its market position and operational capabilities[19]. - The prolonged COVID-19 pandemic has shifted consumer habits towards online shopping, prompting C.banner to establish multiple online channels and digital marketing campaigns to boost sales[52]. - The company plans to further enhance its brand influence and maximize sales by leveraging online and offline resources, indicating potential for market expansion[92]. Retail and Sales Performance - Total retail sales of social consumer goods in China reached RMB 21.2 trillion in the first half of 2021, marking a 23.0% year-on-year growth[24]. - Online retail sales amounted to RMB 6.1 trillion, with a year-on-year growth of 23.2%[24]. - The footwear market in China experienced fluctuations, but the easing of lockdown measures allowed for a recovery in foot and in-store traffic[24]. - The retail and wholesale footwear segment recorded a significant improvement with a profit of RMB 63.0 million, compared to a loss of RMB 8.8 million in 2020 and a profit of RMB 30.9 million in 2019[35]. - The company has identified the athleisure market as a rising trend, effectively broadening its customer base to the younger generation and increasing its market share[38]. - External sales from retail and wholesale of shoes reached RMB 744,870,000, compared to RMB 608,991,000 in the prior year, marking an increase of about 22.3%[193]. - The revenue from the People's Republic of China accounted for RMB 771,671,000, up from RMB 631,551,000 in the previous year, indicating a growth of about 22.2%[199]. Operational Efficiency and Investments - The company has completed modifications to its production plant in Xuzhou, improving material utilization and production efficiency through upgraded equipment[74]. - Logistics efficiency has been enhanced through continuous adjustments and the implementation of a Warehouse Management System, leading to higher operational efficiency[75]. - The company reported inventories of RMB 431,110,000 as of June 30, 2021, which is an increase from RMB 336,813,000 at the end of 2020, showing a rise of about 28%[169]. - The company incurred payments for the acquisition of property, plant, and equipment amounting to RMB 43,974,000 during the period[185]. - The company plans to improve product quality across the entire production chain, from R&D to logistics, to deliver cost-effective products[90]. Corporate Governance and Shareholder Information - The company is committed to enhancing its corporate governance practices to ensure compliance with the Corporate Governance Code[110]. - The interests and short positions of directors and chief executives were disclosed as required by the Securities and Futures Ordinance[116]. - As of June 30, 2021, Mr. Chen Yixi held 385,710,000 shares, representing an approximate interest of 18.57% in the company[117]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2021, consistent with the previous year[107]. - The Share Option Scheme adopted on 26 August 2011 is valid for 10 years, aimed at attracting and retaining key personnel for the Group's long-term growth[135]. Employee and Community Engagement - A charity event is planned in Xinjiang to support affected communities, providing shoes and building libraries for children[91]. - The company is focusing on expanding its loyal member customer base through loyalty programs, which are expected to generate sustainable long-term sales income[65]. - As of June 30, 2021, the Group employed 5,474 employees, a decrease from 5,876 employees as of December 31, 2020[105].

Financial Performance - C.banner reported a revenue of approximately HKD 1.2 billion for the fiscal year, reflecting a year-on-year increase of 15%[5] - The company reported a net profit of HKD 150 million, representing a 25% increase compared to the previous fiscal year[5] - The gross profit margin improved to 60%, up from 55% in the previous year, indicating better cost management and pricing strategies[5] - Revenue for the year ended December 31, 2020, was RMB 1,539,368, a decrease of 20.5% from RMB 1,935,538 in 2019[20] - Gross profit for the same period was RMB 860,668, down 25.7% from RMB 1,159,086 in 2019, resulting in a gross profit margin of 55.9% compared to 59.9% in the previous year[20] - The company reported a profit before income tax of RMB 14,813, a significant recovery from a loss of RMB 90,567 in 2019[20] - Profit for the year from continuing operations was RMB 5,605, compared to a loss of RMB 205,276 in 2019[20] Sales and Market Strategy - The company has set a target of achieving a 15% increase in overall sales for the next fiscal year, driven by new product launches and market expansion strategies[4] - The company expanded its online sales channels, achieving a 30% growth in e-commerce revenue, contributing significantly to overall sales[4] - C.banner plans to launch three new footwear collections in the upcoming year, targeting a 20% increase in market share within the mid-to-premium segment[4] - The online retail sector in China grew by 10.9% in 2020, with online retail sales of physical goods increasing by 14.8%[32] - The pandemic accelerated the shift towards e-commerce, prompting traditional retail companies to enhance their digitalization efforts[38] - The Company implemented a multi-brand strategy with C.banner as the core, launching brands like "EBLAN", "Sundance", and "MIO" to enhance brand synergy[197] Retail Network and Operations - C.banner's retail network includes over 1,000 stores across first to third-tier cities in China, with plans to open an additional 100 stores in the next year[4] - The Company plans to gradually close low-efficiency stores and enhance sales volume through online channels to boost overall sales[47] - The Group maintained a strong presence in 31 provinces, municipalities, and autonomous regions in China[199] - The Group operated 1,045 proprietary retail outlets and 197 third-party retail outlets across China as of December 31, 2020[199] - The Group recorded a year-on-year revenue decrease of 51.6% from its three Hamleys stores in 2020 due to COVID-19 impacts[199] Research and Development - The company aims to enhance its research and development efforts in comfort technology, with a budget allocation of HKD 50 million for the next fiscal year[4] Corporate Governance and Compliance - The Company has received annual confirmations of independence from all independent non-executive directors[87] - No director has a service contract that is not determinable within one year without compensation[88] - The Group has complied with all relevant laws and regulations concerning labor rights, environmental protection, product safety, and health[68] Shareholder Information - Mr. Chen Yixi holds 762,074,000 shares, representing 36.69% of the company's interests[106] - The Board did not recommend a final dividend for the year ended December 31, 2020[66] - The Company has a total of 200,000,000 securities available for issue under the Share Option Scheme, representing approximately 9.63% of the issued share capital as of the report date[171] Environmental and Social Responsibility - The Company recognizes the importance of good environmental stewardship and aims to enhance efficiency while minimizing the use of natural resources[62] - The Group is committed to improving energy, water, and material efficiency while reducing the use of natural resources[64] - The Group is focused on providing a pleasant working environment and promoting work-life balance for its employees[68] Strategic Initiatives - The Company is exploring potential mergers and acquisitions to diversify its brand portfolio and enhance market presence[4] - The Company aims to strengthen its core business and optimize online and offline experiences to enhance competitiveness[30] - The operational system will be reformed to adapt to the latest operational mode, particularly focusing on the self-owned brand, C.banner, to unleash its potential[47]

Financial Performance - Revenue for the six months ended June 30, 2020, was RMB 676,782,000, a decrease from RMB 988,166,000 in the same period of 2019, representing a decline of approximately 31.5%[11]. - Gross profit for the same period was RMB 386,475,000, down from RMB 592,651,000, resulting in a gross profit margin of 57.1%, compared to 60.0% in 2019[11]. - The company reported a loss before income tax of RMB 22,762,000, compared to a profit of RMB 7,488,000 in the previous year[11]. - Loss for the period attributable to owners of the company from continuing operations was RMB 23,343,000, compared to a loss of RMB 6,690,000 in the same period of 2019[11]. - The loss per share for the period was RMB 1.13, compared to RMB 0.32 in the same period of 2019[11]. - For the six months ended June 30, 2020, the Group's revenue from continuing operations decreased by 31.5% to RMB 676.8 million, compared to RMB 998.2 million in the same period of last year[84]. - Gross profit for the six months ended June 30, 2020, decreased by 34.8% to RMB 386.5 million, with a gross profit margin of 57.1%[89]. - Distribution and selling expenses reached RMB 372.0 million, a decrease of 29.6% from the same period last year, accounting for 55.0% of revenue from continuing operations[90]. - Contract Manufacturing revenue decreased by 61.1% to RMB 45.05 million, while Retail of Toys revenue decreased by 56.5% to RMB 22.75 million[88]. - The company incurred a loss and total comprehensive expenses for the period of RMB (29,343), compared to RMB (23,705) in the previous period[163]. Market Conditions - The retail market in China experienced a gradual recovery after severe contraction, although negative growth was still recorded during the review period[17]. - The overall economic impact of COVID-19 led to the largest GDP contraction in China in the last four decades during the first quarter of 2020[16]. - The pandemic has emphasized the importance of digital transformation, with retailers possessing strong e-commerce strategies showing greater flexibility and adaptability in a competitive marketplace[25][27]. - The global footwear market is projected to reach US$530.3 billion by 2027, with a CAGR of 5.5% from 2020 to 2027, despite a forecasted drop in global consumption of 22.5% in 2020 due to the pandemic[20][22]. - In China, online retail sales of physical goods increased by 14.3% in the first half of 2020 compared to the same period last year, while the courier sector experienced a growth rate of 22.5%[21][22]. - The Chinese economy is showing signs of recovery, with manufacturing Purchasing Manager's Indices indicating expansion, although export demand remains weak[77]. Strategic Initiatives - The company is leveraging its brand influence and resource advantages to foster growth dynamics in response to the adverse business environment[17]. - The company has implemented strategies to adapt to the challenges posed by the pandemic and stimulate growth[17]. - The company aims to leverage its brand influence and resource advantages to drive growth amidst a challenging business environment[18]. - The company has strategically identified athleisure as a rising market trend and is directing increased resources to tap into this promising market opportunity[31]. - The company aims to enhance same-store sales growth of each offline store while actively promoting online sales to adapt to changing consumption modes and habits[35]. - The company is focused on bringing innovative footwear designs to the market and continuously offering fresh product portfolios[31]. - The company plans to enhance its global brand image through improved marketing strategies and operational efficiencies to navigate adverse market conditions[78]. - The company aims to increase the proportion of online sales to 20% in 2020, enhancing its e-commerce presence through partnerships with platforms like Vipshop, Tmall, and JD.com[47]. Operational Adjustments - The company resumed full operations in its stores since early March 2020 after initial order cancellations due to COVID-19 lockdowns[16]. - The company recorded a net reduction of 110 proprietary shoe retail outlets and 30 third-party shoe retail outlets, resulting in a total of 1,104 proprietary and 215 third-party retail outlets as of June 30, 2020[35]. - The company is optimizing directly-operated stores and evaluating loss-making stores to streamline operations and control costs, aiming to gradually increase online sales to offset the impact of store closures[48]. - The company has adopted advanced design and technology to simplify the production process and improve production efficiency, increasing the diversity and flexibility of production lines[34]. - The company has implemented a closed-loop production line in its Xuzhou factory, reducing the number of employees per production line from 55 to 28, thereby improving production efficiency[54]. - Flexible production modes have been adopted, saving 20% to 30% of production capacity, enhancing overall productivity[55]. Financial Position - As of 30 June 2020, the Group had bank balances and cash of RMB 456.2 million, an increase from RMB 401.1 million as of 31 December 2019[93]. - Net cash generated from operating activities was RMB 97.0 million, an increase of RMB 118.4 million compared to net cash used in operating activities of RMB 21.4 million in the same period last year[94]. - Net cash used in investing activities was RMB 16.1 million, compared to RMB 40.0 million during the same period last year[96]. - Net cash outflows from financing activities were RMB 25.7 million, while net cash outflows from financing activities in the same period last year were RMB 87.5 million[96]. - As of June 30, 2020, the Group's net current assets were RMB 1,177.0 million, representing a net increase of RMB 138.2 million or 13.3% compared to RMB 1,038.8 million as at 31 December 2019[96]. - The company reported trade receivables of RMB 188,336,000, down from RMB 286,940,000, suggesting improved collection efficiency[150]. - Inventories decreased significantly to RMB 176,557,000 from RMB 510,578,000, indicating better inventory management[150]. - Cash and bank balances increased to RMB 434,113,000 from RMB 401,057,000, enhancing the company's cash position[150]. Shareholder Information - The interests of Mr. Chen Yixi in the Company amounted to 748,940,000 shares, representing approximately 36.06% of the Company's equity[106]. - Mr. Miao Bingwen held 80,000,000 shares and an additional 20,000,000 shares as a beneficial owner, totaling approximately 4.81% of the Company's equity[106]. - As of June 30, 2020, Hongguo International Group Limited holds 378,940,000 shares, representing approximately 18.24% of the company's interests[121]. - Central Huijin Investment Ltd and China Construction Bank each hold 380,000,000 shares, accounting for approximately 18.30% of the company's interests[121]. - China Huarong Asset Management Co., Ltd. has a long position of 493,750,000 shares, which is approximately 23.77% of the company's interests[124]. - Cheer Hope Holdings Limited also holds 380,000,000 shares, representing approximately 18.30% of the company's interests[121]. - The total number of shares held by substantial shareholders indicates a strong ownership concentration within the company[120]. Corporate Governance - The Directors do not recommend the payment of an interim dividend for the six months ended 30 June 2020, consistent with no dividend in the same period last year[101]. - The Group will continue to review and enhance its corporate governance practices to ensure compliance with the Corporate Governance Code[103]. - The interim report highlights the absence of any new strategies or product developments disclosed during the reporting period[125]. - The company continues to monitor market conditions and shareholder interests as part of its ongoing governance practices[125].

Business Strategy - C.banner International Holdings Limited aims to be a leading international integrated retailer of mid-to-premium ladies' footwear in China [4]. - The company operates self-developed brands and licensed brands, distributing products through department stores and independent retail stores across first-tier to third-tier cities in China [4]. - C.banner is committed to expanding its online business to enhance its customer base and sales distribution network [4]. - The company emphasizes a diversified brand strategy to enrich its product portfolio and enter various market segments [4]. - C.banner's self-developed brands include C.banner, EBLAN, sundance, MIO, Badgley Mischka, and natursun, targeting different customer profiles [4]. - The company is also involved in OEM and ODM manufacturing for international shoe companies, contributing to its export markets [4]. - C.banner's vision includes striving to be the leading branded group of mid-to-premium ladies' footwear in the PRC [4]. - The company is focusing on a global branding strategy and building an intelligent integrated retail platform to enhance market presence [30]. - New footwear brands and an enriched retail network were introduced to achieve sustainable growth and mitigate market risks [37]. - The establishment of joint ventures and enhancement of online sales channels were key strategies to improve sales performance [37]. - The company aims to create a unique online and offline shopping experience for consumers by integrating resources across various business units [37]. Financial Performance - Revenue from continuing operations decreased to RMB 1,935,538, down 18.5% from RMB 2,377,197 in 2018 [22]. - Gross profit from continuing operations was RMB 1,159,086, resulting in a gross profit margin of 59.9%, up from 57.3% in the previous year [22]. - Loss for the year from continuing operations increased to RMB 205,276, compared to a loss of RMB 93,356 in 2018 [22]. - The liquidity ratio improved significantly to 411.3, up from 204.9 in 2018, indicating better short-term financial health [22]. - Average inventory turnover increased to 237.8 days, compared to 216.2 days in the previous year, reflecting slower inventory movement [22]. Market Conditions - The footwear industry in China faced challenges due to international brand influx and changing consumer behavior, impacting overall market conditions [31]. - Global economic growth is projected to soften in 2020, with ongoing trade tensions and the impact of the novel coronavirus affecting market prospects [43]. - The company is cautiously optimistic about the outlook for the women's footwear industry despite continued headwinds [43]. - The company is leveraging market insights and established leadership in the footwear market in China to build a new consumer-centric model [39]. Corporate Governance and Compliance - The Group has complied with all relevant laws and regulations concerning labor rights, environmental protection, and product safety for the year ended December 31, 2019 [59]. - The Company has complied with all relevant laws and regulations concerning labor rights, environmental protection, product safety, and data privacy [65]. - The Group is committed to providing a comfortable working environment and competitive compensation to maintain a high employee retention rate [66]. - The Company has received annual confirmations of independence from its independent non-executive Directors, affirming their independence [85]. Shareholder Information - As of December 31, 2019, the Company's reserves available for distribution amounted to approximately RMB139.7 million, down from RMB227.2 million as of December 31, 2018 [78]. - The Company did not recommend a final dividend for the year ended December 31, 2019, consistent with the previous year [70]. - The total number of shares held by substantial shareholders indicates a concentrated ownership structure, with the top five shareholders holding over 100% of the shares when considering overlapping interests [115]. - The company reported a significant reliance on major shareholders for financial stability and strategic direction [115]. - The report highlights the importance of maintaining strong relationships with these substantial shareholders to support future growth initiatives [115]. Future Outlook and Strategies - The company aims to explore new distribution channels to achieve market share increment [39]. - The Company has adopted a strategy focusing on lower-tier markets, which are growing at a considerable speed, to mitigate competition in the high-tier footwear market [183]. - The Company aims to cater to consumers with modest backgrounds by offering products with an affordable and attractive price tag [183]. - The Company has successfully avoided substantial losses amidst a complex macro environment, positioning itself for high profits once the consumer market recovers [184]. - Future strategies may include mergers and acquisitions to strengthen market position and diversify offerings [115]. - The company plans to expand its market presence by increasing the number of outlets in key regions [200]. - New product development initiatives are underway to cater to evolving consumer preferences [200]. Retail Network and Expansion - The Company reduced its proprietary shoe retail outlets by 203 and third-party outlets by 48, maintaining a network of 1,214 proprietary and 245 third-party outlets as of December 31, 2019 [194]. - Total outlets increased to 1,459, comprising 754 self-operated and 183 third-party retail stores [197]. - The company operates 30 outlets in Central China, with only 47 total outlets in that region [197]. - The company plans to continue operating Hamleys stores in China on a franchise basis post-disposal of its toy business [190].