Financial Performance - For the fiscal year 2023, the company's revenue was approximately RMB 150.6 million, representing a 5.8% increase from RMB 142.4 million in 2022[5] - The company's gross profit decreased by approximately RMB 1.7 million or 6.3%, from about RMB 27.2 million in 2022 to approximately RMB 25.5 million in 2023[13] - The gross profit margin fell from 19.1% in 2022 to 17.0% in 2023, a decrease of 2.1 percentage points[13] - Sales costs increased by approximately RMB 9.9 million or 8.6%, from about RMB 115.2 million in 2022 to approximately RMB 125.1 million in 2023[12] - The company recorded a pre-tax loss of approximately RMB 12.7 million in the fiscal year 2023, compared to a loss of approximately RMB 10.3 million in the fiscal year 2022[24] Revenue and Business Outlook - The company plans to launch a new supply chain management business in mainland China, which is expected to enhance revenue sources and profitability[7] - The company remains optimistic about the business outlook in mainland China for 2024 and beyond, supported by government measures to stimulate consumer demand[7] Cash and Liquidity - The company continues to maintain a focus on cash preservation and liquidity enhancement amid market uncertainties[5] - Cash and cash equivalents and bank deposits totaled approximately RMB 39.7 million as of December 31, 2023, up from approximately RMB 36.7 million as of December 31, 2022, representing 22.8% of total current assets[25] Inventory and Receivables - Inventory increased by approximately RMB 8.2 million to about RMB 31.1 million as of December 31, 2023, with a turnover period of 79 days[26] - Trade receivables rose by approximately RMB 8.5 million to about RMB 93.9 million as of December 31, 2023, with a turnover period of 217 days[27] Employee and Labor Relations - The total employee costs for the fiscal year 2023 amounted to approximately RMB 26.5 million, compared to RMB 26.0 million in the fiscal year 2022[43] - The group employed approximately 290 full-time employees as of December 31, 2023[43] - Employee turnover rate for the reporting period was 1.05%, with 3 employees voluntarily leaving for career development[115] - The company emphasizes a safe and healthy work environment, implementing safety training and emergency plans to prevent workplace accidents[123] Environmental, Social, and Governance (ESG) - The company continues to focus on environmental, social, and governance (ESG) matters as part of its long-term strategy[47] - The company aims to operate efficiently by reducing the use of non-renewable resources and minimizing harmful emissions and wastewater discharge[58] - The company has implemented a "green policy" aimed at minimizing pollution and promoting resource conservation[67] - The company has established communication channels with stakeholders, including shareholders, employees, and regulatory bodies, to gather feedback on ESG matters[60] Corporate Governance - The board consists of four executive directors and three independent non-executive directors, ensuring a balanced governance structure[156] - The company has adopted the corporate governance code and has complied with it, except for the deviation regarding the roles of the Chairman and CEO being held by the same individual[156] - The board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee various aspects of the group's affairs[159] Risk Management and Compliance - The company has established a robust internal control system aimed at managing risks and ensuring the protection of shareholder investments[192] - The board is responsible for preparing financial statements that fairly reflect the group's financial position and performance in accordance with international financial reporting standards[191] Shareholder Rights and Communication - Shareholders have the right to participate in general meetings, allowing direct communication with the board and the opportunity to vote on significant matters[196] - The company encourages shareholders to submit inquiries and suggestions directly to the board during general meetings[197]

Financial Performance - For the fiscal year ending December 31, 2023, the total revenue was RMB 150,614,000, representing an increase of 5.5% compared to RMB 142,415,000 in 2022[4] - The gross profit for 2023 was RMB 25,534,000, a decrease of 6.1% from RMB 27,203,000 in 2022[4] - The operating loss for 2023 was RMB 10,687,000, compared to an operating loss of RMB 6,347,000 in 2022, indicating a worsening of 68.5%[4] - The net loss attributable to shareholders for 2023 was RMB 12,716,000, an increase of 23.2% from RMB 10,321,000 in 2022[4] - The basic and diluted loss per share for 2023 was RMB 8.45, compared to RMB 7.75 in 2022, indicating a deterioration of 9.0%[4] - The pre-tax net loss for 2023 was approximately RMB 12.7 million, compared to a loss of RMB 10.3 million in 2022[34] - The company recorded a pre-tax loss of approximately RMB 12.7 million in FY2023, compared to a loss of RMB 10.3 million in FY2022[52] Cash and Liquidity - The company's cash and cash equivalents increased to RMB 39,721,000 in 2023 from RMB 36,739,000 in 2022, reflecting a growth of 5.4%[6] - The company maintains a cash and cash equivalents balance of approximately RMB 39.7 million as of December 31, 2023, representing 22.8% of total current assets[53] - In the fiscal year 2023, the net cash used in operating activities was RMB (4,647) thousand, an improvement from RMB (10,961) thousand in 2022[60] - The net cash used in investing activities was RMB (2,493) thousand, a significant decrease from RMB 45,477 thousand in the previous year[60] - The net cash generated from financing activities was RMB 10,161 thousand, compared to a net cash used of RMB (17,692) thousand in 2022[60] - The debt-to-equity ratio as of December 31, 2023, was 11.8%, slightly down from 12.1% in 2022[60] - The company maintained a treasury policy to effectively manage cash and reduce borrowing costs, ensuring sufficient liquidity for operations[62] Assets and Liabilities - The total assets decreased to RMB 173,963,000 in 2023 from RMB 150,867,000 in 2022, a decline of 15.3%[7] - The company's equity increased to RMB 143,836,000 in 2023, up from RMB 140,870,000 in 2022, representing a growth of 2.1%[7] - Trade payables at the end of the reporting year were approximately RMB 32.99 million, a significant increase from RMB 3.84 million in 2022[29] - Trade payables increased significantly to approximately RMB 33.0 million as of December 31, 2023, with a turnover period of 54 days[59] - As of December 31, 2023, the company had no capital commitments or significant contingent liabilities[65][66] Inventory and Receivables - Inventory levels rose significantly to RMB 31,067,000 in 2023, up 35.8% from RMB 22,889,000 in 2022[6] - Trade receivables increased to RMB 93,866,000 in 2023, compared to RMB 85,375,000 in 2022, marking a rise of 10.5%[6] - Trade receivables aged within 90 days were RMB 55.1 million in 2023, compared to RMB 45.0 million in 2022[28] - Trade receivables increased by approximately RMB 8.5 million to RMB 93.9 million as of December 31, 2023, with a turnover period of 217 days[57] - Inventory increased by approximately RMB 8.2 million to RMB 31.1 million as of December 31, 2023, with a turnover period of 79 days[54] Revenue Sources and Customer Contributions - Major customers contributing over 10% of revenue included Customer B with RMB 25.2 million and Customer D with RMB 19.6 million in 2023[18] - The total sales of goods amounted to RMB 150.6 million in 2023, up from RMB 142.4 million in 2022[19] - Revenue increased by approximately 5.8% from RMB 142.4 million in FY2022 to RMB 150.6 million in FY2023[37] Operating Expenses - Selling and distribution expenses rose by approximately 7.0% to RMB 18.3 million in FY2023, accounting for 12.1% of revenue[45] - Administrative and other operating expenses decreased by approximately 21.3% to RMB 15.6 million in FY2023, representing 10.3% of revenue[46] - The gross profit margin was impacted by market conditions and pricing strategies for goods sold in 2023[34] - Gross profit decreased by approximately 6.3% from RMB 27.2 million in FY2022 to RMB 25.5 million in FY2023, with a gross margin decline of 2.1 percentage points to 17.0%[41] Future Plans and Management Strategies - The company plans to launch a new supply chain management business in mainland China, which is expected to enhance revenue sources and profitability in the coming years[34] - The company has implemented strict management of operating expenses, marketing, and financing costs to preserve cash and enhance liquidity amid market uncertainties[34] Shareholder Information - The board does not recommend the payment of a final dividend for the year ending December 31, 2023 (2022: none) [79] - The audited annual results have been published on the company's website and the Hong Kong Stock Exchange [79] - The 2023 annual report contains all information required by the Listing Rules Appendix 16 and the Companies Ordinance (Cap. 622) [79] - The annual report will be sent to shareholders at the appropriate time and published on the company's and the Stock Exchange's websites [79] - The board expresses sincere gratitude to shareholders, customers, suppliers, management team, and employees for their continued support [81]

中期報告 目 錄 公司資料 2 管理層討論及分析 4 企業管治及其他資料 13 未經審核簡明綜合中期 損益及其他全面收益表 21 未經審核簡明綜合中期 財務狀況表 22 未經審核簡明綜合中期 權益變動表 23 未經審核簡明綜合中期 現金流量表 24 未經審核簡明綜合中期 財務報表附註 25 公司資料 董事會及委員會 執行董事 丁培基先生 丁培源先生 詹儀雄先生 劉敏女士 （於2023年8月4日獲委任） 丁麗真女士 （於2023年8月4日辭任） 獨立非執行董事 吳成堅先生 陳軍先生 郭崢先生 （於2023年6月16日獲委任） 洪祖星先生 （於2023年6月16日辭任） 審核委員會 吳成堅先生 （主席） 郭崢先生 陳軍先生 薪酬委員會 郭崢先生 （主席） 陳軍先生 丁培源先生 提名委員會 陳軍先生 （主席） 劉敏女士 吳成堅先生 授權代表 丁培基先生 彭永康先生 公司秘書 彭永康先生 註冊辦事處 Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman, KY1-1111 Cayman Islands 總辦事處及於中國的營業地點 中國 福建省 泉州市 經濟技 ...

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佈的內容概不負責， 對其準確性或完整性亦不發表聲明，並表明概不就因本公佈全部或任何部分內容 所導致或因倚賴該等內容而產生的任何損失承擔任何責任。 MIKO INTERNATIONAL HOLDINGS LIMITED 米 格 國 際 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1247） 截至2023年6月30日止六個月的中期業績公佈 米格國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其 附屬公司（統稱「本集團」）截至2023年6月30日止六個月的未經審核簡明綜合中期 業績連同2022年同期的比較數字如下： ...

Financial Performance - For the fiscal year 2022, the company's revenue was approximately RMB 142.4 million, representing a 4.2% increase from RMB 136.7 million in 2021[7]. - The company reported a pre-tax net loss of approximately RMB 10.3 million for 2022, compared to a loss of RMB 25.0 million in 2021[7]. - Sales to distributors accounted for 100% of total revenue in 2022, amounting to RMB 142.4 million, up from RMB 130.1 million or 95.1% in 2021[21]. - The average wholesale price increased by 52.8% from RMB 36 in 2021 to RMB 55 in 2022, despite a 31.6% decrease in sales volume from 3.8 million units to 2.6 million units[16]. - The apparel segment remained the primary revenue contributor, generating RMB 142.4 million in 2022, which was 100% of total revenue[20]. Cost Management - The company has maintained strict management of operating expenses, marketing costs, and financing costs in response to the challenging economic environment[7]. - Sales cost increased by approximately RMB 10.0 million or about 9.5% from approximately RMB 105.2 million in FY2021 to approximately RMB 115.2 million in FY2022[22]. - Gross profit decreased by approximately RMB 4.3 million or about 13.7% from approximately RMB 31.5 million in FY2021 to approximately RMB 27.2 million in FY2022, with gross margin dropping from 23.0% to 19.1%[23]. - Selling and distribution expenses decreased by approximately 32.4% from approximately RMB 25.3 million in FY2021 to approximately RMB 17.1 million in FY2022, representing 12.0% of revenue compared to 18.5% in FY2021[26]. - Administrative and other operating expenses were approximately RMB 19.7 million in FY2022, a slight decrease of about 0.5% from approximately RMB 19.8 million in FY2021[27]. Future Outlook - The company plans to expand its business by launching a new supply chain management subsidiary in mainland China, aiming to enhance revenue sources and profitability[8]. - The outlook for 2023 is optimistic, with expectations of growth in the consumer market due to government measures to stimulate the economy[10]. - The company remains open to sustainable growth investment opportunities for long-term business prospects[11]. Employee Management - The total employee cost for the fiscal year 2022 was approximately RMB 26.0 million, a decrease from RMB 29.1 million in the fiscal year 2021[57]. - The company employed approximately 290 full-time employees as of December 31, 2022[57]. - The employee turnover rate for the reporting period was 7.42%, with 22 employees voluntarily leaving for career development reasons[113]. - The company invests in employee training and development, providing on-the-job training for new production staff lasting one to three months[123]. - All employee benefits and salaries were settled on time during the reporting period, with no labor disputes recorded[113]. Environmental, Social, and Governance (ESG) - The company has been actively monitoring and assessing its environmental, social, and governance (ESG) obligations since 2017[60]. - The company continues to adhere to environmental, social, and governance (ESG) guidelines, aiming to minimize risks related to these areas[64]. - The company aims to reduce the use of non-renewable energy and resources, and minimize harmful emissions and wastewater discharge[68]. - The total indirect carbon dioxide emissions from the company's operations during the 2022 reporting period were approximately 1,150.75 tons, a decrease of about 169.51 tons or 12.84% compared to the 2021 reporting period[81]. - The company has not received any complaints or warnings regarding emissions from local communities or relevant environmental agencies in the past three years[81]. Corporate Governance - The board of directors consists of three executive directors and three independent non-executive directors, adhering to corporate governance codes[145]. - The company deviated from the corporate governance code by having the same individual serve as both the CEO and chairman, which it believes ensures consistent leadership direction[145]. - The audit committee held three meetings during the year, with all members attending, demonstrating active oversight of financial reporting and internal controls[164]. - The board regularly reviews its delegated functions and powers to ensure appropriateness and compliance with governance standards[149]. - The company has established clear written terms of reference for its committees, outlining their responsibilities and powers[158].

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佈的內容概不負責， 對其準確性或完整性亦不發表聲明，並表明概不就因本公佈全部或任何部分內容 所導致或因倚賴該等內容而產生的任何損失承擔任何責任。 MIKO INTERNATIONAL HOLDINGS LIMITED 米 格 國 際 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1247） 截至2022年12月31日止年度的年度業績公佈 及建議修訂組織章程大綱及細則 米格國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其 附屬公司（統稱「本集團」）截至2022年12月31日止財政年度（「2022年財政年度」）的 經審核綜合業績，連同截至2021年12月31日止年度（「2021年財政年度」）的比較數 字。該等業績乃根據國際財務報告準則（「國際財務報告準則」）編製，並已由本公 司審核委員會審閱如下。 ...

Financial Performance - For the first half of 2022, the company's revenue was approximately RMB 460 million, a decrease of 22.9% compared to RMB 597 million in the first half of 2021[12]. - The net loss for the first half of 2022 was approximately RMB 138 million, compared to a net loss of RMB 222 million in the same period of 2021[12]. - The sales volume of clothing products in the first half of 2022 was about 1.2 million pieces, a reduction of approximately 50% from 2.4 million pieces in the first half of 2021[14]. - The gross profit for the first half of 2022 increased to approximately RMB 105 million, with a gross margin of 22.9%, up from 10.4% in the first half of 2021, representing an increase of about 12.5 percentage points[22]. - The company recorded no sales from self-operated stores in the first half of 2022, while sales from self-operated stores were approximately RMB 66.3 million or 11.1% in the first half of 2021[16]. - The cost of sales decreased from approximately RMB 535 million in the first half of 2021 to RMB 355 million in the first half of 2022[21]. - Sales and distribution expenses for the first half of 2022 were approximately RMB 11.4 million, an increase of about RMB 2.8 million (or approximately 32.6%) from RMB 8.6 million in the first half of 2021[26]. - Administrative and other operating expenses decreased to approximately RMB 10.4 million in the first half of 2022, down about RMB 8.4 million (or approximately 44.7%) from RMB 18.8 million in the first half of 2021[28]. - The net loss for the period was approximately RMB 13.8 million, an improvement from a loss of approximately RMB 22.2 million in the first half of 2021[31]. - The company reported a loss attributable to shareholders of RMB 13,783,000, compared to a loss of RMB 22,194,000 for the same period in 2021, indicating a 38.2% reduction in losses[102]. - The group reported a pre-tax loss of RMB 13,783,000 for the six months ended June 30, 2022, an improvement from a loss of RMB 22,194,000 in the same period of 2021[141]. Cash Flow and Assets - Cash and cash equivalents increased by approximately RMB 35.6 million in the first half of 2022, compared to an increase of approximately RMB 3.8 million in the first half of 2021[38]. - As of June 30, 2022, the group recorded net current assets of approximately RMB 52.3 million, with a current ratio of 1.5, down from RMB 58.5 million and a ratio of 1.9 as of December 31, 2021[32]. - The company’s total assets as of June 30, 2022, amounted to RMB 236,646,000, an increase from RMB 216,539,000 as of December 31, 2021[130]. - The company’s current liabilities increased to RMB 150,515 thousand as of June 30, 2022, compared to RMB 121,984 thousand as of December 31, 2021, indicating a rise of about 23.4%[104]. - The company’s non-current assets, including property, plant, and equipment, totaled RMB 86,131 thousand as of June 30, 2022, down from RMB 94,555 thousand as of December 31, 2021, representing a decrease of approximately 8.9%[104]. - The total assets minus current liabilities amounted to RMB 138,447 thousand, a decrease from RMB 153,042 thousand as of December 31, 2021, representing a decline of approximately 9.5%[104]. - The company’s inventory as of June 30, 2022, was RMB 35,831 thousand, an increase from RMB 31,106 thousand as of December 31, 2021, indicating a rise of about 15.5%[104]. - Trade receivables as of June 30, 2022, totaled RMB 49,272,000, down from RMB 65,883,000 as of December 31, 2021, indicating improved collection efficiency[150]. Shareholder Information - The company did not declare any interim dividend for the first half of 2022, consistent with the previous year[66]. - Major shareholder 华智 holds 24,817,669 shares, representing 17.51% of the total shares[78]. - 丁丽真女士 holds 4,224,000 shares, which is 2.98% of the total shares[78]. - 丁培源先生 also holds 4,231,200 shares, accounting for 2.99% of the total shares[78]. - The total number of issued ordinary shares was 141,696,000 as of June 30, 2022[78]. - The company has granted options to acquire a total of 130,000 shares under the pre-IPO share option plan as of June 30, 2022[92]. - The total number of share options granted under the share option scheme is capped at 10% of the issued shares at the time of listing, which amounts to 80,000,000 shares[94]. - The maximum number of shares that can be issued upon the exercise of all share options granted under the scheme cannot exceed 30% of the issued shares at any time[96]. Operational Developments - The company plans to expand its supply chain management business in mainland China, which is expected to provide new revenue opportunities[12]. - The outlook for the second half of 2022 remains uncertain due to the potential impact of the COVID-19 pandemic, but the company maintains a long-term optimistic view on sustainable growth opportunities[13]. - There were no significant investments, acquisitions, or disposals of subsidiaries during the six months ending June 30, 2022[56]. - The company has not held any foreign currency investments, and its operations were not significantly affected by currency fluctuations[57]. - The company employed approximately 300 full-time employees as of June 30, 2022[58]. - The board consists of three executive directors and three independent non-executive directors, adhering to corporate governance codes[60]. Financing and Liabilities - The group’s bank borrowings were approximately RMB 20.2 million as of June 30, 2022, down from approximately RMB 43.3 million as of December 31, 2021[37]. - The planned use of proceeds from the placement of 23,616,000 shares includes RMB 8 million for loan repayment, representing 59.3% of the total proceeds[50]. - The company incurred a total financing cash outflow of RMB 13,503 thousand during the six months ended June 30, 2022, compared to a net inflow of RMB 5,001 thousand in the same period of 2021[111]. - The company’s assets pledged for bank loans included properties valued at RMB 36,841,000 as of June 30, 2022, compared to RMB 26,150,000 as of December 31, 2021[156]. - The interest rate for fixed-rate bank loans remained at 4.78% as of June 30, 2022, compared to a range of 4.78% to 5.52% as of December 31, 2021[158]. - The company has no significant contingent liabilities as of June 30, 2022[54]. Employee and Administrative Costs - Total employee costs for the first half of 2022 amounted to approximately RMB 96 million, a decrease from RMB 103 million in the first half of 2021[58]. - The group reported a decrease in employee costs to RMB 9,616,000 for the six months ended June 30, 2022, from RMB 10,328,000 in the same period of 2021[138]. - The group’s central administrative costs, including directors' remuneration, are included in the segment performance evaluation[128].

Financial Performance - The group's revenue for the fiscal year 2021 was approximately RMB 136.7 million, representing an 18.0% increase from RMB 115.8 million in 2020[8]. - The group's net loss before tax for 2021 was approximately RMB 25.0 million, compared to a net loss of RMB 78.2 million in 2020[8]. - In the fiscal year 2021, total revenue increased by 18.0% to approximately RMB 136.7 million, compared to RMB 115.8 million in 2020[17]. - Revenue from clothing accounted for 97.8% of total revenue, rising by 16.0% to RMB 133.7 million, while footwear and accessories revenue surged by 446.1% to RMB 3.0 million[17]. - The company recorded a pre-tax loss of approximately RMB 25.0 million in 2021, an improvement from a loss of RMB 78.2 million in 2020[28]. Sales and Distribution - Sales to distributors accounted for approximately 95.1% of total revenue in 2021, amounting to RMB 130.1 million, up from 88.3% or RMB 102.2 million in 2020[13]. - Revenue from self-operated stores decreased to approximately RMB 6.6 million in 2021, representing 4.9% of total revenue, down from 11.7% or RMB 13.6 million in 2020[14]. - The sales volume for 2021 was 3.8 million units, a 5.6% increase from 3.6 million units in 2020[16]. - The average wholesale price increased by 12.5% to RMB 36 in 2021, up from RMB 32 in 2020[16]. Expenses and Profitability - Gross profit rose by approximately 264.5% to RMB 31.5 million, with gross margin increasing from 7.5% in 2020 to 23.0% in 2021[20]. - Selling and distribution expenses decreased by 25.6% to approximately RMB 25.3 million, representing 18.5% of total revenue, down from 29.4% in 2020[23]. - Administrative and other operating expenses fell by 34.9% to approximately RMB 19.8 million, accounting for 14.5% of total revenue, down from 26.3% in 2020[24]. Cash Flow and Financial Position - Cash and cash equivalents totaled approximately RMB 19.7 million as of December 31, 2021, down from RMB 39.2 million in 2020, representing over 16.1% of total current assets[29]. - The total cash and cash equivalents decreased to RMB 19,738 thousand as of December 31, 2021, down from RMB 39,169 thousand in 2020, reflecting a net decrease of RMB 19,377 thousand[34]. - The debt-to-asset ratio improved to 31.2% as of December 31, 2021, compared to 38.2% in the previous year, indicating a stronger financial position[34]. - The company maintained a net cash position as of December 31, 2021, with no significant foreign currency investments or exposure to currency risk[44]. Employee and Labor Practices - The total employee costs for the fiscal year 2021 amounted to approximately RMB 29.1 million, an increase from RMB 26.1 million in 2020, reflecting a growth of about 11.5%[45]. - The company reported a total of 308 full-time employees as of December 31, 2021, with no part-time employees hired[84]. - The employee gender distribution was 50.61% male and 49.39% female in 2021, consistent with the previous year[85]. - The employee turnover rate for the year was 9.12% overall, with 29 employees voluntarily leaving for career development reasons[92]. - The company is committed to providing a safe and comfortable working environment, adhering to local labor laws and regulations[83]. Environmental and Social Responsibility - The company aims to operate in an environmentally friendly manner and reduce the use of non-renewable resources[52]. - The company has set goals to minimize harmful emissions and wastewater discharge[52]. - The company has identified key areas of focus including emissions, resource usage, and community investment[55]. - The company aims to reduce its carbon dioxide emissions by 2% in the coming year through continued implementation of emission control measures[61]. - The company has not received any complaints or warnings regarding emissions from local communities or relevant environmental agencies in the past three years[61]. Corporate Governance - The board of directors consists of three executive directors and three independent non-executive directors, adhering to corporate governance standards[125]. - The company has established three board committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, to oversee various aspects of the group's affairs[128]. - The board meets quarterly and may hold additional meetings as needed to discuss overall strategy, operations, financial performance, and approve interim and annual results[144]. - The company emphasizes the importance of training and continuous professional development for its directors and senior management[142]. - The company has a clear procedure for shareholders to propose candidates for director positions, ensuring transparency in the nomination process[159]. Market and Competitive Landscape - The company faces risks from fashion trends, which can impact sales and inventory levels if consumer preferences are not accurately predicted[183]. - The competitive landscape includes both local Chinese brands and international apparel brands, affecting product design, production costs, and marketing strategies[184]. - The company relies heavily on independent manufacturers for all products and materials, with no long-term contracts in place, which may lead to supply chain disruptions[186]. - The financial status of distributors is assessed based on their payment records and retail performance, with economic slowdowns negatively impacting their financial health and, consequently, the company's performance[187]. Customer Relations and Product Quality - The company has a customer service department that analyzes return cases and provides feedback for improvement, maintaining high customer satisfaction[116]. - The company has not experienced any major product recalls or complaints related to quality or safety issues in the past three years, including 2021[115]. - The company emphasizes the use of natural and safe materials in its products, ensuring they pose no risk to end users[110].

彩 均團 隐 司 淺 (於開曼群島註冊成立的有限公司) 股份代號： 1247 控 股 2021 R 40 bkin r and AP:1 F 15 11 2 - O Pos g 目 錄 2 公司資料 4 管理層討論及分析 13 企業管治及其他資料 21 未經審核簡明綜合中期損益及其他全面收益表 22 未經審核簡明綜合中期財務狀況表 23 未經審核簡明綜合中期權益變動表 24 未經審核簡明綜合中期現金流量表 25 未經審核簡明綜合中期財務報表附註 公司資料 02 | --- | --- | --- | --- | |------------------------------------------------------|-------|-------|-------| | | | | | | 董事會及委員會 | | | | | 執行董事 | | | | | 丁培基先生 | | | | | 丁培源先生 | | | | | 丁麗真女士 | | | | | 獨立非執行董事 | | | | | 洪祖星先生 | | | | | 陳偉煌先生 | | | | | 吳世明先生 | | | | | | | | | | 審核委 ...

Financial Performance - For the fiscal year 2020, the company's revenue was approximately RMB 115.8 million, a decrease of 30.3% from RMB 166.0 million in 2019[8]. - The company's loss before tax for 2020 was approximately RMB 78.2 million, compared to a loss of RMB 256.4 million in 2019[8]. - Total revenue for the fiscal year 2020 was approximately RMB 115.8 million, a decrease of 30.3% from RMB 166.0 million in 2019[21]. - Gross profit fell to approximately RMB 8.6 million in 2020, down 70.7% from RMB 29.5 million in 2019, resulting in a gross margin of 7.5%[24]. - The company recorded a pre-tax loss of approximately RMB 78.2 million in 2020, an improvement from a loss of RMB 256.4 million in 2019[35]. Revenue Sources - Sales to distributors accounted for approximately 88.3% of total revenue in 2020, amounting to RMB 102.2 million, compared to 64.7% in 2019[14]. - Revenue from self-operated stores dropped to RMB 13.6 million in 2020, representing 11.7% of total revenue, down from 35.3% in 2019[14]. - The apparel segment generated sales of approximately RMB 115.2 million in 2020, accounting for 99.5% of total revenue, down from 98.4% in 2019[15]. - The footwear and accessories segment saw a significant decline in sales, dropping from RMB 2.6 million in 2019 to RMB 0.6 million in 2020, a decrease of 78.7%[15]. Cost Management - Cost of sales decreased by approximately RMB 29.4 million or 21.5% to about RMB 107.2 million in 2020, aligning with the revenue decline[23]. - Selling and distribution expenses decreased by 75.3% to approximately RMB 34.0 million, representing 29.4% of revenue in 2020 compared to 83.1% in 2019[31]. - Administrative and other operating expenses were approximately RMB 30.5 million in 2020, a reduction of 10.3% from RMB 34.0 million in 2019[32]. Cash Flow and Liquidity - Cash and cash equivalents totaled approximately RMB 39.2 million as of December 31, 2020, an increase from RMB 32.1 million in 2019, representing over 29.4% of total current assets[36]. - The total cash and cash equivalents increased to RMB 39,169,000 as of December 31, 2020, compared to RMB 32,102,000 in 2019, marking an increase of 22.0%[44]. - The net cash generated from operating activities was RMB 673,000, a significant decrease from RMB 13,956,000 in 2019, representing a decline of approximately 95.2%[44]. Employee Management - The total employee costs for the fiscal year 2020 were approximately RMB 26.1 million, down from RMB 37.6 million in 2019, reflecting a decrease of about 30.0%[55]. - The company employed around 330 full-time employees as of December 31, 2020, indicating a stable workforce size[55]. - The employee turnover rate for the 2020 reporting period was 9.52%, with 66 employees voluntarily leaving for career development reasons[108]. - The company provides statutory benefits to all eligible employees, including mandatory provident funds and social insurance[113]. Environmental Responsibility - The company generated 1,200.01 tons of indirect CO2 emissions during the 2020 reporting period, a reduction of 625.82 tons or 34.28% compared to the previous year[71]. - The company aims to reduce CO2 emissions by an additional 5% in the coming year[72]. - The company has implemented a "green environmental policy" to minimize pollution and resource consumption[66]. - The company has maintained a vigilant approach to water conservation, with no complaints regarding water consumption or wastewater discharge[73]. Corporate Governance - The board consists of three executive directors and three independent non-executive directors, maintaining a balance of power and authority[149]. - The company has adopted the corporate governance code and complied with its provisions, with the exception of the separation of roles between the chairman and CEO[149]. - The board is responsible for setting overall goals and strategies, monitoring operational and financial performance, and reviewing corporate governance practices[154]. - The company has engaged an external auditor, Guo Wei Accounting Firm, with audit fees for the year ending December 31, 2020, amounting to RMB 1.2 million, consistent with the previous year[184]. Risk Management - The board is responsible for maintaining effective risk management and internal control systems to protect shareholder investments and company assets[183]. - The company believes it has sufficient resources to continue operating for the foreseeable future without any significant uncertainties affecting its business[182]. - The board is committed to reviewing the effectiveness of risk management and internal control systems at least annually[183]. Stakeholder Engagement - The company emphasizes the importance of communication with shareholders and provides comprehensive operational and financial performance data through annual and interim reports[193]. - Shareholders have the right to attend general meetings and directly communicate with the board, with notices sent at least 20 business days prior to meetings[187]. - The company encourages shareholders to submit inquiries and suggestions directly to the board during general meetings[188].