EF001 發行人所發行上市權證/可轉換債券的相關信息 發行人所發行上市權證/可轉換債券 不適用 其他信息 其他信息 不適用 發行人董事 於本公佈日期，本公司執行董事為楊紫明博士及柯榕欽先生；及本公司獨立非執行董事為徐容國先生、梁銘樞先生及谷晶女士。 EF001 免責聲明 | 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 公告全部或任何部份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。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 卡賓服飾有限公司 | | 股份代號 | 02030 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2024年12月31日止年度的末期股息 | | 公告日期 | 2025年3月7日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2024年12月31日 | | 宣派股息的報告期末 | 2024年12月 ...

Financial Performance - Revenue for the year 2024 decreased to RMB 1,035,008, down 12.9% from RMB 1,188,648 in 2023[14] - Gross profit for 2024 was RMB 462,314, representing a decline of 9.6% compared to RMB 511,630 in 2023[14] - Profit for the year increased to RMB 28,893, up 5.4% from RMB 27,403 in 2023[14] - EBITDA for 2024 was RMB 148,507, slightly down from RMB 151,286 in 2023[14] - Basic and diluted earnings per share rose to 4.10 RMB cents, an increase from 3.11 RMB cents in 2023[14] - Total dividend per share for 2024 increased to 1.79 HK cents, compared to 1.40 HK cents in 2023[14] - Gross profit margin improved to 44.7%, up from 43.0% in 2023[14] - Operating margin increased to 8.7%, compared to 7.5% in the previous year[14] - Net profit margin rose to 2.8%, up from 2.3% in 2023[14] Retail Operations - As of December 31, 2024, the Group operated a total of 650 retail shops in mainland China, an increase from 568 in 2023[33] - The Group offered over 2,000 new stock-keeping units (SKUs) for the 2024 product collections, maintaining the same level as in 2023[34] - The Group plans to actively expand its physical retail store network and enhance the image and service quality of physical stores[27] - The Group plans to expand its physical retail store network, focusing on third- and fourth-tier cities to increase domestic market share[52] - Retail sales revenue from physical stores decreased by 11.0% for the year ended December 31, 2024, compared to the previous year[40] - Retail revenue from online platforms decreased by 19.7% for the year ended December 31, 2024, compared to the previous year[40] - The average retail discount at physical stores increased to 27.6% in 2024 from 25.9% in 2023[40] Online Sales and Marketing - The Group aims to deepen the development of its online sales platform and promote omni-channel operations to enhance customer engagement[27] - The Group will enhance operational efficiency to control operating costs and expenses[52] - The Group aims to further develop its online sales platform and strengthen the integration of online and offline channels[54] - The Group will leverage social media and brand collaborations to strengthen brand promotion and development[55] - Online shop revenue accounted for 52.7% of total revenue in 2024, generating RMB545.0 million, while offline shop revenue was not specified[62] Cost Management and Efficiency - Selling and distribution expenses decreased by 19.4% to RMB197.6 million in 2024, mainly due to lower advertising and logistics costs[67] - Administrative and other operating expenses amounted to RMB222.5 million in 2024, a decrease of 2.2% from the previous year[75] - Profit from operations increased to RMB89.6 million in 2024, compared to RMB88.7 million in 2023, driven by a decrease in operating expenses[81] - Finance costs for 2024 were RMB13.1 million, representing 1.3% of total revenue, down from RMB18.7 million or 1.6% in 2023[85] Financial Position - The net debt to equity ratio improved to -1.0%, down from 10.2% in 2023, indicating a stronger financial position[14] - As of December 31, 2024, the Group held cash and cash equivalents totaling RMB514.5 million, slightly down from RMB516.9 million in 2023[94] - The Group achieved a net operating cash inflow of RMB154.4 million for the year ended December 31, 2024, compared to RMB95.9 million in 2023, indicating a significant improvement[95] - Net cash generated from investing activities was RMB43.4 million for the year ended December 31, 2024, a turnaround from a net cash outflow of RMB121.3 million in 2023[96] - The Group's total bank loans as of December 31, 2024, amounted to RMB225.6 million, an increase from RMB190.2 million in 2023[107] - The Group was in a net cash position of RMB13.2 million, a significant improvement from a net debt position of RMB136.4 million in 2023[95] - The Group's gearing ratio decreased significantly to 16.8% as of December 31, 2024, down from 25.2% in 2023, due to a reduction in bank loans from RMB336.6 million to RMB225.6 million[120][124] Human Resources - As of December 31, 2024, the Group had 126 employees, a decrease from 225 employees in 2023, with total staff costs amounting to approximately RMB 77.1 million, down from RMB 89.5 million in 2023[144][146] - The decrease in workforce was primarily due to the optimization of the Group's organizational structure and subcontracting of certain non-core tasks[144][146] Corporate Governance - The Company is committed to high standards of corporate governance to enhance investor confidence and maximize shareholder returns[159] - The Board has established four committees to oversee different areas of the Company's affairs, including the Audit Committee and the Remuneration Committee[161] - The Company complied with the Corporate Governance Code provisions for the year ended December 31, 2024, except for a deviation from code provision C.2.1[160] - The Board currently comprises two executive Directors and three independent non-executive Directors[162] - The Audit Committee held two meetings during the year ended December 31, 2024, completing significant work including reviewing the Group's annual report and financial statements[185] - The Remuneration Committee is responsible for reviewing and recommending the overall remuneration structure for all Directors and senior management, ensuring competitive packages based on business requirements and industry practices[188] - The Group's remuneration policy for Directors and senior management is linked to financial results and individual performance, with discretionary bonuses based on these metrics[189] - The remuneration of senior management for the year ended December 31, 2024, includes one individual earning between HK$1,000,001 and HK$1,500,000[194] - The Nomination Committee held one meeting in 2024 to review the size, diversity, and composition of the Board[200] - The Company has a share option scheme that was reviewed by the Remuneration Committee[196]

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 完整性亦不發表任何聲明，並表明概不會就因本公佈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。 Cabbeen Fashion Limited 卡賓服飾有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會將於二零二五年三月七日（星 期五）舉行會議，藉以（其中包括）批准本公司及其附屬公司截至二零二四年十二月三十一日止年 度的綜合全年業績以及考慮派付末期股息（如有）。 承董事會命 卡賓服飾有限公司 公司秘書 雷偉峯 香港，二零二五年二月二十五日 於本公佈日期，執行董事為楊紫明博士及柯榕欽先生；及獨立非執行董事為徐容國先生、梁銘樞 先生及谷晶女士。 2030 董事會會議日期 ...

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 505,549,000, a decrease of 14.1% from RMB 588,681,000 in 2023[9]. - Gross profit for the same period was RMB 237,582,000, down from RMB 279,688,000, reflecting a gross profit margin of 47.0% compared to 47.5% in 2023[9]. - Profit from operations increased to RMB 42,931,000, up from RMB 38,801,000, indicating an operating margin improvement to 8.5% from 6.6%[9]. - Profit for the period was RMB 16,993,000, slightly up from RMB 16,437,000, resulting in a net profit margin of 3.4%, compared to 2.8% in the previous year[9]. - EBITDA for the first half of 2024 was RMB 73,211,000, an increase from RMB 66,393,000 in 2023[9]. - Basic and diluted earnings per share were both RMB 2.14, compared to RMB 1.56 in the same period last year[9]. - Other net income increased by RMB 4.4 million to RMB 19.0 million for the six months ended June 30, 2024, primarily due to higher government grant income[31]. - Profit before taxation rose to RMB 31,221,000, up from RMB 28,935,000, representing an increase of 7.5%[83]. - Total comprehensive income for the period is RMB 15,699,000, compared to RMB 15,398,000, showing an increase of 1.95%[83]. Dividends and Shareholder Returns - The interim dividend declared was HKD 0.93, an increase from HKD 0.70 in 2023[9]. - The Group declared an interim dividend of HK$0.93 cents per ordinary share for the six months ended June 30, 2024, compared to HK$0.7 cents for the same period in 2023[72]. - The directors proposed an interim dividend of HK$0.93 per ordinary share, an increase from HK$0.7 in 2023[155]. Retail Performance - Total retail revenue from all retail channels for the six months ended 30 June 2024 decreased by 12.6% compared to the same period in 2023[14]. - Retail sales revenue from physical retail stores for the six months ended 30 June 2024 decreased by 11.2% compared to the same period in 2023[17]. - Retail revenue from online platforms decreased by 15.5% for the six months ended 30 June 2024 compared to the same period in 2023[17]. - The average retail discount at physical stores for the six months ended 30 June 2024 was approximately 25.7%[17]. - As of June 30, 2024, the sell-through rate of the Group's 2023 collections was approximately 81.3% and for the 2024 spring/summer collections was approximately 57.7%[17]. Inventory and Receivables Management - Average inventory turnover days improved to 183 days from 199 days in 2023[9]. - The Group recorded a decrease in inventory write-downs to RMB 46.7 million from RMB 67.7 million in the same period of 2023, contributing to lower administrative expenses[36]. - Total inventories decreased from RMB 293,778,000 as of December 31, 2023, to RMB 245,723,000 as of June 30, 2024, representing a decline of approximately 16.4%[125]. - The ageing analysis of trade receivables showed a significant increase in amounts overdue for more than one year, rising from RMB 123,626,000 as of December 31, 2023, to RMB 191,971,000 as of June 30, 2024, an increase of approximately 55.3%[130]. Cost Management - Selling and distribution expenses decreased by 7.4% for the six months ended June 30, 2024, attributed to lower staff costs and advertising expenses[32]. - Administrative and other operating expenses amounted to RMB 106.6 million, a decrease of RMB 33.3 million or 23.8% from RMB 139.9 million in the same period of 2023, mainly due to lower inventory write-downs and other expenses[35][36]. - Staff costs decreased to RMB 33,645,000 from RMB 40,516,000, reflecting a reduction of 17.0%[103]. Debt and Liquidity - The net debt to equity ratio increased to 5.0% from 3.4% in the previous year, while the gearing ratio decreased to 16.5% from 22.7%[9]. - The Group's net debt position improved to RMB 66.7 million as of June 30, 2024, compared to RMB 136.4 million as of December 31, 2023[45]. - The Group had total banking facilities of RMB 483.0 million as of June 30, 2024, down from RMB 638.9 million as of December 31, 2023[53]. - The Group's banking facilities are subject to covenants related to certain financial ratios, with no breaches reported as of June 30, 2024[146]. Market Outlook and Strategy - The Group plans to expand its physical retail store network, focusing on third and fourth-tier cities to increase market share in lower-tier domestic markets[25]. - The Group will continue to optimize marketing strategies and enhance the visual appearance of physical stores to improve consumer experience and brand image[24]. - The Group adopts a cautious outlook on the apparel market, focusing on improving product quality and value-for-money to increase customer satisfaction[24]. - Consumer confidence remains undermined by macroeconomic uncertainties, impacting the consumption of non-essential goods and mid-end fashion products[23]. Corporate Governance - The Company complied with the Corporate Governance Code provisions for the six months period ended June 30, 2024, except for the deviation regarding the roles of chairman and chief executive officer being held by the same individual[192][196]. - The Board believes that having Mr. Ziming Yang serve as both chairman and chief executive officer provides strong leadership and enhances decision-making efficiency[196][199]. - The Company has maintained a commitment to high standards of corporate governance and business ethics to enhance investor confidence and maximize shareholder returns[192][195].

Company Overview - Cabbeen Fashion Limited reported its unaudited consolidated results for the six months ended June 30, 2024[1]. - The company operates a retail network covering 28 provinces and regions in China, along with several online platforms[2]. - The main brands under Cabbeen include Cabbeen and 2AM, focusing on apparel for men and women[3]. - The interim report includes a comprehensive financial summary, management discussion, and analysis[4]. - The company is committed to expanding its market presence and enhancing its product offerings through new designs and technologies[5]. - Cabbeen's financial highlights and performance metrics are detailed in the interim report, reflecting the company's growth strategy[6]. - The company has established a strong governance structure with a board of directors and various committees overseeing operations[7]. - Principal bankers include China Construction Bank and Shanghai Pudong Development Bank, indicating strong financial partnerships[8]. - The registered office is located in the Cayman Islands, with a principal place of business in Hong Kong[6]. Financial Performance - Revenue for the six months ended 30 June 2024 decreased by 14.1% to RMB 505,549,000 compared to RMB 588,681,000 in 2023[9]. - Gross profit for the same period decreased by 15.1% to RMB 237,582,000, with a gross profit margin of 47.0%[9]. - Retail sales revenue from physical retail stores decreased by 11.2% compared to the same period in 2023[17]. - Retail revenue from online platforms decreased by 15.5% for the six months ended 30 June 2024[17]. - The average retail discount at physical stores was approximately 25.7% for the six months ended 30 June 2024[17]. - The sell-through rate of the Group's 2023 collections was approximately 81.3%[17]. - The sell-through rate of the Group's 2024 spring/summer collections was approximately 57.7%[17]. - Interim dividend increased to HK 0.93 cents from HK 0.7 cents in 2023[9]. - Net debt to equity ratio increased to 5.0% from 3.4% in 2023[9]. - Profit from operations increased to RMB 42.9 million for the six months ended June 30, 2024, compared to RMB 38.8 million for the same period in 2023[37]. - Profit for the period was RMB 17.0 million, with a net profit margin of 3.4% for the six months ended 30 June 2024[40]. - Basic and diluted earnings per share for the six months ended June 30, 2024 were RMB 2.14 cents, an increase from RMB 1.56 cents for the same period in 2023[40]. Market Strategy - The company plans to expand its physical retail store network, focusing on third and fourth-tier cities to increase market share in lower-tier domestic markets[25]. - The company adopts a cautious outlook on the apparel market, emphasizing quality and value-for-money to enhance customer satisfaction[24]. - Consumer confidence remains low due to macroeconomic uncertainties, impacting the consumption of non-essential goods and mid-end fashion products[23]. - The company will adjust its online sales and pricing strategies, enhancing the integration of online and offline channels[25]. Operational Metrics - As of June 30, 2024, the total retail network consists of 599 stores, an increase from 574 stores as of December 31, 2023, with a notable growth in self-operated stores from 6 to 5[19]. - Online sales contributed RMB 273,994,000, accounting for 54.2% of total revenue, while offline sales through wholesale and consignment channels decreased significantly[27]. - The brand "Cabbeen" generated RMB 337,738,000, representing 66.8% of total revenue, down from 67.0% in the previous year[29]. Governance and Compliance - The company emphasizes its commitment to corporate governance and compliance with regulatory standards[7]. - The Group's management actively reviews its capital structure to balance shareholder returns and maintain a sound capital position[63]. - The Group's liquidity position remains healthy, with sufficient cash and available banking facilities to meet its commitments[62]. - The Audit Committee, comprising three independent non-executive directors, reviewed and approved the unaudited interim results for the six months ended June 30, 2024, confirming that appropriate accounting policies were adopted[198][200]. - The Company is committed to high standards of corporate governance and has complied with the Corporate Governance Code provisions for the six months ended June 30, 2024, except for a deviation regarding the roles of chairman and chief executive officer[192][196]. Cash Flow and Debt Management - As of June 30, 2024, the Group held cash and cash equivalents totaling RMB441.0 million, a decrease from RMB516.9 million as of December 31, 2023[45]. - The Group's net debt position improved to RMB66.7 million as of June 30, 2024, compared to RMB136.4 million as of December 31, 2023[45]. - The net operating cash inflow for the six months ended June 30, 2024, was RMB65.9 million, down from RMB78.6 million for the same period in 2023[45]. - Net cash generated from investing activities was RMB30.9 million for the six months ended June 30, 2024, compared to a net cash outflow of RMB58.8 million for the same period in 2023[45]. - Net cash used in financing activities was RMB143.5 million for the six months ended June 30, 2024, compared to a net cash inflow of RMB25.3 million for the same period in 2023[45]. Inventory and Receivables Management - Average inventory turnover days improved to 183 days for the six months ended June 30, 2024, from 199 days for the same period in 2023[54]. - Average turnover days of trade and bills receivables increased to 229 days for the six months ended June 30, 2024, compared to 180 days for the same period in 2023[55]. - The Group had total banking facilities of RMB483.0 million as of June 30, 2024, down from RMB638.9 million as of December 31, 2023[53]. - The total amount of inventories as of June 30, 2024, was RMB 245,723,000, a decrease from RMB 293,778,000 at the end of 2023, reflecting a decline of approximately 16.3%[125]. Shareholder Information - The Group declared an interim dividend of HK$0.93 cents per ordinary share for the six months ended June 30, 2024, compared to HK$0.7 cents for the interim dividend in 2023[72]. - As of June 30, 2024, the number of issued and fully paid ordinary shares was 668,593,000, unchanged from June 30, 2023[156]. - Mr. Ziming Yang serves as both chairman and chief executive officer, which deviates from the Corporate Governance Code provision that recommends separation of these roles[196][199]. Risk Management - The Group's foreign exchange risk is primarily due to transactions in HK$ while most operations are in RMB, with no derivative financial instruments used for hedging during the six months ended June 30, 2024[65]. - The Group's credit risk associated with bank acceptance bills is considered insignificant[11]. - None of the Group's banking covenants were breached as of June 30, 2024[146][147].

Financial Position - As of December 31, 2023, the Group held cash and cash equivalents totaling RMB 516.9 million, an increase from RMB 429.8 million as of December 31, 2022[10]. - The Group's net debt position increased to RMB 136.4 million as of December 31, 2023, up from RMB 57.4 million in the previous year[10]. - The debt-to-equity ratio as of December 31, 2023, was 25.2%, compared to 20.4% on December 31, 2022, due to an increase in bank loans[13]. - The net debt to equity ratio increased to 10.2% from 4.3% in 2022, suggesting a rise in leverage[25]. - The Group's gearing ratio increased to 25.2% as of December 31, 2023, up from 20.4% in 2022, attributed to an increase in bank loans to RMB 336.6 million[147]. - As of 31 December 2023, the Group had total banking facilities of RMB638.9 million, an increase from RMB360.6 million in 2022, with RMB155.9 million unutilized[170]. - The Group maintains a healthy liquidity position with sufficient cash and available banking facilities to meet its commitments and working capital requirements[176]. Cash Flow - The Group recorded a net operating cash inflow of RMB 95.9 million for the year ended December 31, 2023, compared to a net operating cash outflow of RMB 90.0 million in 2022[10]. - Net cash used in investing activities for the year ended December 31, 2023, was RMB 121.3 million, a shift from net cash generated of RMB 110.3 million in 2022[10]. - The Group's cash flow from operating activities was primarily driven by a reduction in inventories[10]. Revenue and Profitability - Revenue for 2023 reached RMB 1,188,648, a slight increase from RMB 1,185,049 in 2022, representing a growth of 0.2%[25]. - Gross profit for 2023 was RMB 511,630, with a gross profit margin of 43.0%, up from 42.8% in 2022[25]. - The company reported a profit from operations of RMB 88,693, compared to a loss of RMB 56,072 in 2022, indicating a significant turnaround[25]. - EBITDA for 2023 was RMB 151,286, a substantial increase from RMB 3,063 in 2022[25]. - The net profit for the year ended December 31, 2023 was RMB 27.4 million, compared to a loss of RMB 75.2 million in 2022, resulting in a net profit margin of 2.3%[162]. - Basic and diluted earnings per share for the year ended December 31, 2023 were RMB 3.11 cents, recovering from a loss per share of RMB 12.73 cents in 2022[162]. Retail Performance - The number of retail shops in mainland China decreased to 568 from 649 in 2022, while retail shops in Hong Kong increased to 6 from 4[48]. - Total retail revenue from all retail channels for the year ended 31 December 2023 remained flat compared to the previous year[50]. - Retail sales revenue from physical stores increased by 3.3% for the year ended 31 December 2023 compared to the previous year[50]. - Retail revenue from online platforms decreased by approximately 6.5% for the year ended 31 December 2023 compared to the previous year[50]. - The average retail discount at physical stores for the year ended 31 December 2023 was approximately 25.9%, down from 29.4% in 2022[50]. - The sell-through rate of the Group's 2023 collections was over 73.0% as of 31 January 2024[50]. - The total number of retail outlets as of 31 December 2023 was 574, comprising 191 wholesale, 377 consignment, and 6 self-operated stores[55]. Market Outlook - The Group is cautious about market outlook and will be selective in expanding its physical store network and investment decisions[67]. - The market downturn driven by the property market slump may be structural and is not expected to turn around in the near future[67]. - Economic recovery was stalling, and consumer confidence was severely affected by the negative wealth effect from a steeper drop in the real estate market[64]. - Consumption for discretionary items and mid-end fashion products was particularly hard hit due to the market downturn driven by the property market slump[64]. Expenses and Cost Management - Selling and distribution expenses rose to RMB 245.2 million in 2023, an increase of RMB 9.3 million or 4.0% from 2022[100]. - Administrative and other operating expenses decreased significantly by RMB 113.8 million or 33.3% to RMB 227.5 million in 2023, mainly due to reduced staff costs and impairment of inventories[103]. - Research and development expenses increased to RMB 17.6 million in 2023 from RMB 16.1 million in 2022, reflecting ongoing investment in product development[130]. Strategic Initiatives - The Group plans to expand its online presence through platforms like T-mall, JD.com, and TikTok, enhancing its e-commerce strategy[48]. - Livestreaming e-commerce is expected to continue growing, prompting the Group to allocate more resources to this channel and collaborate with influencers[112]. - The Group adjusted its pricing strategies to reduce markup multiples and enhance product quality in response to intensified competition among fashion brands[90].

Financial Performance - Revenue for 2023 reached RMB 1,188,648,000, a slight increase from RMB 1,185,049,000 in 2022, representing a growth of 0.2%[18] - Gross profit for the year was RMB 511,630,000, compared to RMB 506,994,000 in the previous year, resulting in a gross profit margin of 43.0%[18] - The company reported an operating profit of RMB 88,693,000, a significant recovery from an operating loss of RMB 56,072,000 in 2022[18] - Net profit for the year was RMB 27,403,000, a turnaround from a net loss of RMB 75,235,000 in the prior year[18] - EBITDA increased to RMB 151,286,000 from RMB 3,063,000 in 2022, indicating improved operational efficiency[18] - Basic and diluted earnings per share were both RMB 3.11, compared to a loss of RMB 12.73 per share in the previous year[18] - The total dividend declared for the year was HKD 1.4 per share, up from HKD 1.0 per share in 2022[18] Debt and Leverage - The net debt to equity ratio increased to 10.2% from 4.3% in the previous year, indicating a rise in leverage[18] - The Group's net debt position as of December 31, 2023, was RMB 136.4 million, compared to RMB 57.4 million in 2022, reflecting an increase in leverage[95] - The Group's gearing ratio increased to 25.2% as at 31 December 2023, up from 20.4% as at 31 December 2022, due to an increase in bank loans totaling RMB336.6 million[122] Retail Operations - The Group operated a total of 568 retail shops in mainland China as of December 31, 2023, down from 649 in 2022, while increasing retail shops in Hong Kong from 4 to 6[38] - Retail performance in the first quarter of 2023 improved compared to the same period in 2022, but the post-pandemic spending boom did not sustain into the second half of 2023[26] - Total retail revenue from all channels for the year ended 31 December 2023 remained flat compared to 2022[12] - Retail sales revenue from physical stores increased by 3.3% for the year ended 31 December 2023 compared to 2022[12] - Retail revenue from online platforms decreased by approximately 6.5% for the year ended 31 December 2023 compared to 2022[12] - The average retail discount at physical stores was approximately 25.9% for the year ended 31 December 2023, down from 29.4% in 2022[12] Market Outlook and Strategy - The Group is cautious about the market outlook due to a structural downturn driven by the property market slump, affecting consumer confidence and discretionary spending[27] - The Group plans to be prudent and selective in expanding its physical store network and investment decisions[27] - The Group is focusing on enhancing supply chain efficiency to minimize production costs and lead time[27] - Pricing strategies are being adjusted to reduce markup multiples while enhancing product value for money[27] - The Group is cautious about market outlook and will focus on expanding in second and third-tier cities[60] Corporate Governance - The Company has established four Board committees to oversee different areas of its affairs, ensuring effective governance[159] - The Board comprises two executive Directors and three independent non-executive Directors, emphasizing a balanced leadership structure[160] - The Company is committed to high standards of corporate governance and regularly reviews its practices to meet stakeholder expectations and regulatory requirements[157] - The Audit Committee held 2 meetings during the year ended December 31, 2023, completing significant work including reviewing the Group's annual report and financial statements[182] - The Remuneration Committee is responsible for reviewing and recommending the overall remuneration structure for all Directors and senior management, ensuring competitive packages based on business requirements and industry practices[184] Employee and Cost Management - As of December 31, 2023, the Group had 225 employees, a decrease from 333 employees in 2022, primarily due to layoffs[143] - Total staff costs for the year ended December 31, 2023, amounted to approximately RMB 89.5 million, down from RMB 129.2 million in 2022, reflecting a significant reduction in workforce expenses[143] Cash Flow and Investments - The Group's cash and cash equivalents, along with pledged deposits and financial assets, totaled RMB 516.9 million as of December 31, 2023, an increase from RMB 429.8 million in 2022[94] - The Group's net operating cash inflow for the year ended December 31, 2023, was RMB 95.9 million, a significant improvement from a net cash outflow of RMB 90.0 million in 2022[95] - Net cash used in investing activities for the year ended December 31, 2023, was RMB 121.3 million, compared to a net cash inflow of RMB 110.3 million in 2022, primarily due to increased fixed deposits and capital expenditures[96] Future Commitments and Plans - The Company has adopted a general dividend policy of declaring and paying dividends on a semi-annual basis of not more than 50% of its total net profit attributable to equity holders since the financial year ended December 31, 2018[152] - The Group had no capital commitments as of December 31, 2023, compared to capital commitments of RMB 15.9 million related to logistics center investments as of December 31, 2022[142] - There are no significant future investment or capital asset plans disclosed for the upcoming year[141]

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 588,681,000, a decrease of 1.2% from RMB 598,412,000 in the same period of 2022[16]. - Gross profit increased to RMB 279,688,000, up 3.1% from RMB 270,301,000 year-on-year[16]. - Profit for the period was RMB 16,437,000, down 19.5% compared to RMB 20,465,000 in the previous year[16]. - Earnings per share for the period was RMB 1.56, a decrease from RMB 2.04 in the same period last year[16]. - Total comprehensive income for the period was RMB 15,398,000, down from RMB 21,125,000 in 2022, reflecting a decline of 27.1%[16]. - Profit from operations decreased by 14.9% to RMB 38,801,000, compared to RMB 45,598,000 in 2022[117]. - Basic and diluted earnings per share decreased by 23.5% to RMB 1.56, down from RMB 2.04[117]. - The gross profit margin improved to 47.5%, compared to 45.2% in 2022[117]. - The operating margin decreased to 6.6%, down from 7.6% in the previous year[117]. - The net profit margin was 2.8%, compared to 3.4% in 2022[117]. Assets and Liabilities - Current assets amounted to RMB 1,571,601,000, an increase from RMB 1,538,436,000 at the end of 2022[19]. - Non-current assets totaled RMB 644,855,000, slightly down from RMB 659,574,000 at the end of 2022[19]. - The total bank borrowings as of June 30, 2023, were RMB 303,134,000, with RMB 229,182,000 secured and denominated in RMB[42]. - The bank borrowings repayable within one year included RMB 73,952,000 that was unsecured and denominated in Hong Kong Dollar[42]. - As of June 30, 2023, the Group's bank borrowings amounted to RMB 617,446,000, an increase from RMB 360,558,000 as of December 31, 2022[14]. - The Group's other payables and accruals decreased to RMB 76,934,000 as of June 30, 2023, from RMB 130,453,000 as of December 31, 2022[48]. - The ageing analysis of trade payables showed an increase in amounts due within 3 months to RMB 193,538,000 as of June 30, 2023, from RMB 186,202,000 as of December 31, 2022[51]. Trade Receivables and Inventory - Inventories decreased significantly to RMB 296,256,000 from RMB 381,575,000, indicating improved inventory management[19]. - Trade and other receivables increased to RMB 762,783,000 from RMB 727,067,000, suggesting a growing customer base[19]. - The total gross carrying amount of trade receivables as of June 30, 2023, was RMB 715,631,000, with a total loss allowance of RMB 100,469,000[28]. - Current (not past due) trade receivables amounted to RMB 307,775,000 with a loss allowance of RMB 16,879,000, resulting in an expected loss rate of 5.48%[32]. - The gross carrying amount of accounts receivable tested for loss allowances on a collective basis was RMB 589,085,000 with a loss allowance of RMB 71,417,000, resulting in an expected loss rate of 12.12%[28]. Customer Concentration - As of June 30, 2023, 18% of total trade receivables were due from the largest customer, compared to 16% as of December 31, 2022[24]. - The second largest customer accounted for 9% of total trade receivables as of June 30, 2023, down from 12% at the end of 2022[24]. - The five largest customers represented 49% of total trade receivables as of June 30, 2023, a decrease from 51% as of December 31, 2022[24]. Share Capital and Dividends - An interim dividend of HK0.7 cent per ordinary share was proposed after June 30, 2023, down from HK1 cent in 2022[52]. - The total number of issued and fully paid ordinary shares remained at 668,593,000 as of June 30, 2023[57]. - The total number of shares available for issue under the Pre-IPO Share Option Scheme is 2,550,000, representing approximately 0.38% of the total number of issued shares as of June 30, 2023[139]. Retail Performance - The number of physical retail stores decreased from 765 as of June 30, 2022, to 589 as of June 30, 2023[130]. - Total retail revenue for the six months ended June 30, 2023, decreased by 5.2% compared to the same period in 2022[130]. - Retail sales revenue from physical retail stores for the six months ended 30 June 2023 decreased by 6.1% compared to the same period in 2022[168]. - Retail revenue from online shops slightly decreased by 3.1% from RMB 402.4 million for the six months ended 30 June 2022 to RMB 389.9 million for the six months ended 30 June 2023[168]. - The average retail discount at physical stores for the six months ended 30 June 2023 was approximately 25.4%, down from 28.0% for the same period in 2022[168]. Market Conditions and Outlook - The economic recovery in mainland China has stalled, impacting consumer confidence and discretionary spending, particularly in the fashion sector[177]. - The company anticipates a cautious medium-term market outlook due to intense competition and a lack of market expansion[179]. - The company plans to continue focusing on cost control and efficiency while investing in brand building and new brand developments[178]. Management and Personnel - Total remuneration for key management personnel for the six months ended June 30, 2023, was RMB 2,281,000, an increase from RMB 2,060,000 in 2022, reflecting a growth of approximately 10.7%[76].

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任何聲明，並表明概不會就因本公佈全部或任何部分 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。 Cabbeen Fashion Limited 卡 賓 服 飾 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2030） 截至二零二三年六月三十日止六個月之 中期業績公佈 卡賓服飾有限公司（「本公司」）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」）截至二零二三年六月三十日止六個月的未經審核綜合業績。 本公佈載有本公司二零二三年中期報告（「二零二三年中期報告」）全文，符合香港聯 合交易所有限公司證券上市規則有關中期業績初步公佈隨附資料的相關規定。 ABOUT CABBEEN 關於卡賓 ...

Financial Performance - Revenue for 2022 was RMB 1,185,049, a decrease of 13.6% from RMB 1,372,662 in 2021[13] - Gross profit for 2022 was RMB 506,994, down 19.4% from RMB 628,837 in 2021[13] - The company reported a loss from operations of RMB 56,072 compared to a profit of RMB 255,300 in 2021[13] - Net loss for the year was RMB 75,235, a significant decline from a profit of RMB 168,641 in 2021[13] - EBITDA for 2022 was RMB 6,054, a decrease of 98% from RMB 296,499 in 2021[13] - Basic and diluted loss per share for 2022 was RMB (12.73) compared to earnings of RMB 24.56 in 2021[13] - Total dividend for 2022 was HKD 1.0 per share, down from HKD 11.9 in 2021[13] - Gross profit margin decreased to 42.8% in 2022 from 45.8% in 2021[13] - The Group experienced a net loss of RMB 75.2 million for the year ended 31 December 2022[24] - Total retail revenue from all channels decreased by 15.9% for the year ended 31 December 2022 compared to the previous year[42] Sales and Revenue Breakdown - Retail sales revenue from physical stores decreased by 21.6% for the year ended 31 December 2022 compared to the previous year[42] - Retail revenue from online platforms decreased by approximately 3.4% for the year ended 31 December 2022 compared to the previous year[42] - Online sales accounted for 56.1% of total revenue in 2022, while offline sales contributed 43.9%, down from 51.3% in 2021[68] - The brand Cabbeen generated RMB 822,561,000 in revenue, representing 69.4% of total revenue, while Cabbeen Urban contributed RMB 305,847,000, or 25.8%[70] - The Group's revenue from wholesale decreased to RMB 185,842,000, accounting for 15.7% of total revenue, down from 20.3% in 2021[68] Operational Challenges - The Group's logistics and retail operations faced temporary closures due to COVID-19 restrictions, significantly impacting sales and customer access[57] - The Group has implemented cost-cutting measures, including reducing purchase orders and laying off employees, to manage cash flow during the challenging environment[61] - The apparel industry is expected to face ongoing downward pressure due to bloated inventories and aggressive discounting practices[53] - Consumption sentiment for non-essential items, particularly fashion apparel, reached recent lows in 2022 due to negative wealth effects from the property market downturn[58] Inventory and Cash Flow - Average inventory turnover days increased to 246 days in 2022 from 226 days in 2021, reflecting a significant drop in sales revenue[97] - The Group recorded a net operating cash outflow of RMB 90.0 million for the year ended December 31, 2022, compared to an outflow of RMB 3.7 million in 2021[115] - Net cash generated from investing activities was RMB 110.3 million in 2022, a turnaround from a net cash outflow of RMB 84.7 million in 2021[115] - Net cash used in financing activities was RMB 59.9 million in 2022, down from RMB 188.5 million in 2021, primarily due to dividend payments of RMB 25.0 million[118] Governance and Management - The Board comprises three executive Directors and three independent non-executive Directors, ensuring a balanced governance structure[151] - The Audit Committee, established on October 8, 2013, consists of three independent non-executive Directors, enhancing oversight of financial reporting and risk management[167] - The Board is responsible for setting the Group's overall objectives and strategies, monitoring financial performance, and reviewing corporate governance standards[159] - All Board members have independent access to senior management and can seek independent professional advice at the Group's expense[161] - The Company has complied with the corporate governance code as of December 31, 2022, except for a deviation mentioned in the report[152] Employee and Workforce Changes - The Group's workforce decreased significantly to 333 employees in 2022 from 545 employees in 2021, primarily due to layoffs and cost-cutting measures during COVID[137] - Total staff costs for the period were approximately RMB 129.2 million, slightly up from RMB 129.0 million in 2021[137] Future Outlook - The Group is cautiously optimistic about market recovery following the full reopening of mainland China in December 2022 and plans to enhance R&D and supply chain management[62] - The Group is investing in new fashion brands targeting younger demographics to diversify its offerings and improve brand image[62]