Miji International Holdings Limited 米技國際控股有限公司 (於開曼群島註冊成立的有限公司) 股份代號：1715 Miji Design Germany 米技 樂在廚房 年報 2020 目錄 | --- | --- | |----------------------|-------| | | | | 公司資料 | | | 五年財務概要 | | | 主席報告書 | | | 管理層討論及分析 | | | 董事及高級管理層簡歷 | | | 企業管治報告 | | | 環境、社會及管治報告 | | | 董事會報告 | | | 獨立核數師報告 | | | 綜合全面收益表 | | | 綜合財務狀況表 | | | 綜合權益變動表 | | | 綜合現金流量表 | | | 綜合財務報表附註 | | 公司資料 | --- | --- | |------------------------------------------------------------------------------------------------------------------|---------------- ...

Revenue Performance - The total revenue for the six months ended June 30, 2020, was approximately RMB 97.3 million, a decrease of 12.9% from RMB 111.7 million for the same period in 2019[8]. - The main product category, radiant cookers, accounted for over 80% of total revenue, generating RMB 80.6 million, up from RMB 82.3 million in 2019[12]. - Revenue from television platforms increased to RMB 63.4 million, representing 65.1% of total revenue, compared to 49.2% in 2019[17]. - Revenue from online platforms decreased to RMB 12.8 million, down from RMB 22.7 million in 2019, representing 13.1% of total revenue[17]. - The company’s sales through distributors and physical sales locations accounted for 16.5% of total revenue[17]. - Direct sales revenue from distribution stores decreased by 9.3% to RMB 17.6 million compared to RMB 19.4 million for the six months ended June 30, 2019[18]. - Sales revenue from corporate clients plummeted by 95.3% to RMB 0.3 million from RMB 6.4 million for the six months ended June 30, 2019, due to reduced procurement orders from property developers[19]. - Direct sales revenue from the television platform increased by 15.3% to RMB 63.4 million from RMB 55.0 million for the six months ended June 30, 2019[23]. - Sales revenue from online platforms dropped by 43.6% to RMB 12.8 million from RMB 22.7 million for the six months ended June 30, 2019, attributed to decreased consumer confidence due to COVID-19[24]. - Sales revenue from physical sales locations fell by 59.8% to RMB 3.3 million from RMB 8.2 million for the six months ended June 30, 2019, primarily due to reduced operating hours from lockdown measures[25]. Financial Losses - The company recorded a net loss of RMB 12.3 million during the interim period[8]. - The company recorded a net loss of RMB 12,334 thousand for the six months ended June 30, 2020, compared to a profit of RMB 9,693 thousand in the same period of 2019[62]. - The company anticipates that consumer confidence and full recovery of the retail sector will take time[8]. - The company reported a net loss margin of 12.7%, compared to a net profit margin of 8.7% for the six months ended June 30, 2019[38]. Cost and Profitability - Gross profit margin decreased to 50.0% from 56.1% for the six months ended June 30, 2019, as the company offered more attractive discounts to stimulate sales[26]. - Gross profit for the same period was RMB 48,659 thousand, down 22.3% from RMB 62,625 thousand year-on-year[62]. - Total material costs for the six months ended June 30, 2020, were RMB 45,192,000, a decrease of 2.3% from RMB 46,264,000 in the same period of 2019[98]. - Employee benefit expenses, including directors' remuneration, were RMB 15,158,000 for the six months ended June 30, 2020, slightly down from RMB 15,451,000 in the same period of 2019[98]. Cash Flow and Liquidity - Cash and cash equivalents decreased significantly to RMB 46,347 thousand from RMB 86,709 thousand, a drop of 46.5%[68]. - Net cash used in operating activities for the six months ended June 30, 2020, was RMB (22,026,000), compared to RMB (16,910,000) for the same period in 2019[77]. - Net cash used in investing activities was RMB (1,485,000) for the six months ended June 30, 2020, significantly lower than RMB 19,114,000 in the same period of 2019[77]. - Net cash used in financing activities was RMB (18,118,000) for the six months ended June 30, 2020, compared to RMB 9,330,000 for the same period in 2019[77]. - The basic and diluted loss per share for the six months ended June 30, 2020, was RMB (0.87), compared to earnings of RMB 0.61 per share in the same period of 2019[65]. Assets and Liabilities - Total assets decreased to RMB 258,930 thousand as of June 30, 2020, from RMB 304,295 thousand at the end of 2019, a decline of 14.8%[68]. - Total liabilities decreased to RMB 76,407 thousand as of June 30, 2020, down 30.2% from RMB 109,453 thousand at the end of 2019[71]. - The company's equity attributable to owners decreased to RMB 176,839 thousand from RMB 189,854 thousand, a decline of 6.9%[68]. - Trade receivables (net of provisions) as of June 30, 2020, were RMB 59,923, a decrease of 10.6% from RMB 67,150 as of December 31, 2019[125]. - Total borrowings as of June 30, 2020, were RMB 38,279, down 28.4% from RMB 53,512 as of December 31, 2019[131]. - The total non-derivative financial liabilities as of June 30, 2020, amounted to RMB 98,687,000, an increase from RMB 93,790,000 as of December 31, 2019, indicating a rise of about 5.0%[135]. Operational Adjustments - The company implemented measures to mitigate the adverse effects of COVID-19, including closing unprofitable stores and increasing marketing activities[8]. - The company plans to diversify its operations and explore new opportunities to create value for shareholders[8]. - The company will continue to carefully study consumer demand and preferences to offer a wider range of products and services[8]. - The group did not have any significant acquisitions or disposals of assets, subsidiaries, associates, or joint ventures during the interim period[47]. - No major investments were made by the group during the interim period[48]. Corporate Governance and Shareholder Information - The board of directors has adopted a corporate governance code that complies with the requirements of the listing rules, except for the separation of the roles of chairman and CEO[161]. - The company maintained a public float of no less than 25% of its issued shares since the listing date[163]. - As of June 30, 2020, the company had a significant shareholder, Guanghua, holding 772,700,000 shares, representing approximately 51.51% of the company's equity[156]. Miscellaneous - The company has not reported any new product launches or technological advancements in the current financial period[137]. - There are no significant market expansions or mergers and acquisitions disclosed in the financial report for the period[137]. - The group did not incur any taxable profits in Germany for the six months ended June 30, 2020, similar to the previous year[103].

Financial Performance - The company's revenue for the year ended December 31, 2019, was RMB 246.3 million, a decrease of approximately 12.6% from RMB 281.7 million in 2018[10] - The net profit for the same period was RMB 19.9 million, down about 16.0% from RMB 23.7 million in 2018[10] - The gross profit margin decreased, with gross profit reported at RMB 133.6 million compared to RMB 149.8 million in the previous year[5] - Total gross profit for 2019 was RMB 133.646 million, a decrease of 10.8% from RMB 149.800 million in 2018[30] - The basic and diluted earnings per share for 2019 were both RMB 1.25, down from RMB 1.73 in 2018[12] - The net profit for the period was RMB 19.9 million, a decrease of 16.0% from RMB 23.7 million in the previous year, with a slight reduction in net profit margin to 8.1%[41] Revenue Sources - The main product category, radiant cookers, accounted for 78.1% of total revenue, generating RMB 192.3 million in 2019[21] - Direct sales from distributors fell by 28.0% to RMB 36.5 million, primarily due to a decrease in customer numbers and average spending[27] - Online platform sales through distributors decreased by 18.2% to RMB 62.3 million, influenced by economic downturn affecting younger consumers[27] - Sales to corporate clients dropped by 58.3% to RMB 11.1 million, attributed to reduced procurement orders from property developers[27] - Revenue from television platforms increased by 14.6% to approximately RMB 115.6 million, driven by more platforms promoting the products[28] Cost Management - The company successfully reduced selling and distribution expenses during the reporting period, partially offsetting the decline in revenue[10] - Selling and distribution expenses decreased by approximately 4.0% to RMB 88.6 million from RMB 92.3 million in the previous year[34] - Administrative expenses decreased by approximately 24.5% to RMB 18.2 million from RMB 24.1 million in the previous year, mainly due to the absence of one-time listing expenses[35] - Research and development expenses decreased by approximately 15.4% to RMB 9.9 million from RMB 11.7 million in the previous year[36] Assets and Investments - Total assets increased to RMB 304.3 million in 2019, up from RMB 268.1 million in 2018[6] - The company completed the acquisition of an additional 10% stake in a joint venture for approximately RMB 2.0 million[50] - The company acquired a commercial property in Shanghai in January 2019 for marketing and office purposes[9] Strategic Plans - The company plans to explore opportunities for business diversification to create value for shareholders amid economic uncertainties[13] - The company plans to open showrooms and increase the number of consignment stores in major cities in China to expand its sales network[52] - The company has established a partnership with a Japanese firm to enter the Hong Kong market[16] - The company will continue to monitor marketing strategy cost-effectiveness and implement measures to lower operating costs[17] Corporate Governance - The board consists of six directors, including three executive directors and three independent non-executive directors[85] - The company has adopted corporate governance practices that comply with the listing rules and has confirmed adherence to these practices for the year ending December 31, 2019[79] - The roles of the chairman and CEO are held by the same individual, which the board believes provides strong and consistent leadership[79] - The board held five meetings during the year, with all executive directors attending all meetings[93] - The company has established three board committees to assist in fulfilling its responsibilities and promoting effective management[101] Risk Management - The board emphasizes the importance of risk management and internal controls, ensuring effective systems are in place to mitigate operational risks and achieve business objectives[139] - An independent consulting firm was engaged to review the effectiveness of the risk management and internal control systems, with no significant deficiencies identified[145] - The company has a structured process for identifying, assessing, and managing risks that may impact its operations[142] Environmental Responsibility - The total greenhouse gas emissions for 2019 amounted to 229.3 tons of CO2 equivalent, a decrease from 295.4 tons in 2018, representing a reduction of approximately 22.3%[166] - The group reported a nitrogen oxide (NOx) emission of 89.49 kg in 2019, a decrease from 112.36 kg in 2018, reflecting a reduction of about 20.3%[163] - The group has implemented policies to reduce emissions and improve resource efficiency, adhering to several Chinese environmental laws[161] - The group aims to develop and implement strategies to monitor and address identified environmental, social, and operational issues for sustainable business development[157] Employee and Community Engagement - The group had a total of 238 full-time employees as of December 31, 2019, with a gender distribution of 68% female and 32% male[180][182] - The company provides comprehensive training and development opportunities for employees, including onboarding, pre-job, and on-the-job training[194] - The company encourages employee participation in charitable activities and aims to continue focusing on community needs[200] Future Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[72] - The company is investing in research and development, with a budget allocation of $10 million for new technology initiatives in the upcoming year[76] - Market expansion efforts include entering three new international markets, aiming for a 20% increase in market share by the end of the next fiscal year[75] - A new product line is set to launch in Q2 2024, expected to contribute an additional $5 million in revenue within the first year[73]

Financial Performance - The company's revenue for the six months ended June 30, 2019, was RMB 111.7 million, a decrease of approximately 19.1% from RMB 138.0 million for the same period in 2018[12]. - Net profit for the same period increased by approximately 42.6% to RMB 9.7 million, compared to RMB 6.8 million in the previous year[12]. - Total revenue for the period was RMB 111.7 million, a decrease from RMB 138.0 million in the previous year[21]. - Gross profit for the same period was RMB 62,625,000, down 21.1% from RMB 79,383,000 year-over-year[59]. - Operating profit increased to RMB 10,673,000, up 20.5% from RMB 8,813,000 in the prior year[59]. - Net profit attributable to owners for the period was RMB 9,693,000, representing a 42.5% increase compared to RMB 6,822,000 in the previous year[61]. - Basic and diluted earnings per share for the period were RMB 0.61, compared to RMB 0.55 in the same period of 2018[61]. Revenue Breakdown - The main product category, radiant cookers, accounted for over 70% of total revenue, generating RMB 82.3 million, which is 73.7% of total revenue[16]. - The company’s sales from electric cookers were RMB 9.0 million, representing 8.1% of total revenue[18]. - The company’s sales from pots and pans were RMB 11.3 million, accounting for 10.1% of total revenue[18]. - Direct sales revenue from consignment stores decreased by 36.2% to RMB 19.4 million, down from RMB 30.4 million in the same period last year[22]. - Online platform sales revenue fell by 31.2% to RMB 22.7 million, compared to RMB 33.0 million in the previous year[22]. - Television platform direct sales revenue decreased by 3.0% to RMB 55.0 million, down from RMB 56.7 million[22]. Cost Management - The company successfully reduced selling expenses during the interim period, offsetting the negative impact of revenue decline[12]. - Administrative expenses decreased by approximately 45.2% to RMB 8.5 million, down from RMB 15.5 million in the same period last year[29]. - Sales and distribution expenses decreased by approximately 22.4% to RMB 40.6 million, down from RMB 52.3 million[27]. - The cost of materials used decreased to RMB 46,264,000 for the six months ended June 30, 2019, down from RMB 55,483,000 in 2018, reflecting a reduction of 16.4%[102]. Assets and Liabilities - As of June 30, 2019, the group's current assets net value was approximately RMB 157.8 million, with cash and cash equivalents of about RMB 58.7 million, and borrowings of approximately RMB 55.3 million[39]. - The current ratio as of June 30, 2019, was 2.9 times, and the debt-to-equity ratio was 0.3[40]. - Total assets as of June 30, 2019, were RMB 276,604,000, an increase from RMB 268,069,000 at the end of 2018[63]. - The company reported a decrease in total liabilities to RMB 91,956,000 from RMB 93,316,000 at the end of 2018[65]. - The company’s total liabilities decreased from RMB 94,888,000 as of December 31, 2018, to RMB 101,915,000 as of June 30, 2019, indicating a potential increase in financial leverage[129]. Cash Flow - The net cash used in operating activities for the six months ended June 30, 2019, was RMB 16,910 thousand, compared to RMB 34,236 thousand for the same period in 2018, indicating a 50.7% improvement[71]. - Cash generated from investing activities was RMB 19,114 thousand, a significant recovery from a cash outflow of RMB 97 thousand in the previous year[71]. - The net cash from financing activities was RMB 9,330 thousand, compared to a cash outflow of RMB 9,974 thousand in the same period last year, reflecting a turnaround in financing[71]. - The company reported a decrease in cash used for operating activities, with income tax paid amounting to RMB 13,646 thousand, down from RMB 29,468 thousand in the prior year[71]. Market Expansion and Strategy - The company entered the Hong Kong market through a partnership with a Japanese company specializing in kitchenware sales, which has over 100 years of history[11]. - The company is actively promoting its brand and products through showrooms in Beijing and Shanghai, new product launches, and cooking classes[12]. - The company plans to adopt a cautious approach in business operations, focusing on consumer needs and preferences to offer a wider range of products and services[14]. - The group plans to establish showrooms in major cities in China and increase the number of distribution stores to expand its sales network[47]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[74]. Shareholder Information - The company’s directors and key executives held 57.51% of the company’s shares as of June 30, 2019, indicating significant insider ownership[154]. - The major shareholder, Kwan Kwan, holds 862,700,000 shares, representing 57.51% of the company's equity[162]. - The company did not declare any dividends for the six months ended June 30, 2019, and 2018[145]. Corporate Governance - The board has adopted corporate governance practices that comply with the requirements of the corporate governance code, except for the separation of the roles of chairman and CEO[172]. - The independent non-executive directors have renewed their service contracts for a term of one year starting from June 24, 2019[174]. - The audit committee reviewed the unaudited condensed consolidated interim financial information for the six months ended June 30, 2019[168]. - No conflicts of interest were reported among directors and major shareholders during the interim period[167].

Miji International Holdings Limited 米技國際控股有限公司 (於開曼群島註冊成立的有限公司) 股份代號：1715 Miji Design Germany 米技 樂在廚房 年報 2018 目錄 公司資料2 財務概要3 主席報告書4 管理層討論及分析6 董事及高級管理層簡歷 12 企業管治報告 16 環境、社會及管治報告 28 董事會報告 36 獨立核數師報告 46 綜合全面收益表 50 綜合財務狀況表 52 綜合權益變動表 54 綜合現金流量表 56 綜合財務報表附註 57 公司資料 董事會 執行董事 季殘月女士（主席兼行政總裁） Walter Ludwig Michel先生 獨立非執行董事 王世方先生 甄子明先生 許興利先生 董事會委員會 審核委員會 許興利先生（主席） 王世方先生 甄子明先生 薪酬委員會 甄子明先生（主席） 王世方先生 許興利先生 提名委員會 季殘月女士（主席） 王世方先生 許興利先生 公司秘書 何詠欣女士 授權代表 季殘月女士 何詠欣女士 合規顧問 德健融資有限公司 香港 金鐘道89號 力寶中心1座45樓 4505–06室 核數師 羅兵咸永道會計師事務所 ...