Core Viewpoint - Li & Fung China (02136) reported a decline in revenue and a shift from profit to loss for the six months ending June 30, 2025, primarily due to decreased sales from licensed counters and rental income from malls [1] Financial Performance - Revenue for the period was 618 million RMB, representing a year-on-year decrease of 4.16% [1] - The company recorded a shareholder loss of 3.73 million RMB, compared to a profit of 41.67 million RMB in the same period last year [1] - Basic loss per share was 0.003 RMB [1] Sales Performance - The decline in revenue was attributed to a drop in sales from licensed counters and rental income from malls [1] - Overall sales revenue decreased by 0.4%, despite growth in sales from the Shanghai Jiuguang Center and Shanghai Jiuguang [1] - The Suzhou Jiuguang store experienced a significant decline in sales, with a drop of approximately 13.5% [1] - The impact of the cessation of operations of the "Fresh Goods Pavilion" since March of the previous year also contributed to the revenue decline [1]

Core Viewpoint - Lifu China (02136) reported a decline in revenue and a shift from profit to loss for the six months ending June 30, 2025, primarily due to decreased sales from licensed counters and rental income from malls [1] Financial Performance - Revenue for the period was 618 million RMB, representing a year-on-year decrease of 4.16% [1] - The company recorded a shareholder loss of 3.73 million RMB, compared to a profit of 41.67 million RMB in the same period last year [1] - Basic loss per share was 0.003 RMB [1] Sales Performance - The decline in revenue was attributed to a drop in sales from licensed counters and rental income from malls [1] - Overall sales revenue decreased by 0.4%, despite growth in sales at Shanghai Jiuguang Center and Shanghai Jiuguang [1] - The Suzhou Jiuguang store experienced a significant sales decline of approximately 13.5% [1] - The impact of the closure of the "Fresh Goods Pavilion" in March of the previous year also contributed to the overall sales decline [1]

Core Viewpoint - Lifo China (02136.HK) reported a revenue decline of 4.2% to RMB 617.8 million for the six months ending June 30, 2025, alongside a significant shift from profit to loss [1] Financial Performance - Revenue decreased by 4.2% to RMB 617.8 million [1] - The company recorded a loss attributable to owners of RMB 3.7 million, compared to a profit of RMB 41.7 million in 2024 [1] - Earnings per share turned negative at RMB 0.003, down from a profit of RMB 0.028 per share in 2024 [1] - The board of directors did not declare any interim dividend [1]

[Performance Summary](index=1&type=section&id=Performance%20Summary) Lifeng China Group faced challenges in the first half of 2025, with revenue decreasing by 4.2% year-on-year to RMB 617.8 million, turning from profit to loss with a net loss attributable to owners of the Company of RMB 3.7 million, resulting in a loss per share of RMB 0.003 and no interim dividend declared [Core Financial Indicators](index=1&type=section&id=Core%20Financial%20Indicators) The core financial indicators for H1 2025 show a 4.2% revenue decline to RMB 617.8 million, a shift from profit to a net loss of RMB 3.7 million, and a loss per share of RMB 0.003, leading to no interim dividend declaration 2025 H1 Core Financial Indicators | Indicator | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | Revenue | RMB 617.8 million | RMB 644.6 million | | (Loss)/Profit attributable to owners of the Company | RMB (3.7) million | RMB 41.7 million | | (Loss)/Earnings per share | RMB (0.003) | RMB 0.028 | | Interim Dividend | Not declared | N/A | [Consolidated Financial Statements](index=2&type=section&id=Consolidated%20Financial%20Statements) The company's consolidated financial statements reflect a decline in revenue and gross profit, leading to a net loss attributable to owners of the Company [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the company's revenue was RMB 618 million, a 4.2% year-on-year decrease, with gross profit falling 9.5% from RMB 362 million to RMB 328 million, resulting in a loss attributable to owners of the Company of RMB 3.7 million compared to a profit of RMB 41.7 million in the prior period Key Items from Consolidated Statement of Profit or Loss (For the six months ended June 30) | Item (RMB thousand) | 2025 (Unaudited) | 2024 (Unaudited) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 617,766 | 644,603 | -4.2% | | Gross Profit | 327,785 | 362,066 | -9.5% | | Profit before tax | 117,031 | 164,227 | -28.7% | | Profit for the period | 72,076 | 130,916 | -45.0% | | (Loss)/Profit attributable to owners of the Company | (3,730) | 41,668 | Turned from profit to loss | | (Loss)/Earnings per share (RMB) | (0.003) | 0.028 | Turned from profit to loss | [Consolidated Statement of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As at June 30, 2025, the company's total assets were approximately RMB 16.81 billion, total liabilities approximately RMB 5.67 billion, and equity attributable to owners of the Company was RMB 9.37 billion, with net current assets increasing from RMB 1.59 billion to RMB 1.75 billion Key Items from Consolidated Statement of Financial Position (RMB thousand) | Item | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | | :--- | :--- | :--- | | Non-current assets | 14,099,695 | 14,250,475 | | Current assets | 2,707,555 | 2,743,460 | | Net current assets | 1,750,352 | 1,587,680 | | Non-current liabilities | 4,708,335 | 4,768,478 | | Equity attributable to owners of the Company | 9,374,711 | 9,378,482 | [Notes to Financial Information](index=5&type=section&id=Notes%20to%20Financial%20Information) Detailed notes provide insights into the company's revenue composition, finance costs, earnings per share, and dividend policy [Revenue and Segment Information](index=6&type=section&id=3.%20Revenue%20and%20Segment%20Information) Total revenue decreased to RMB 618 million, primarily due to a 7.9% decline in revenue from concessionaire sales and an 8.0% decrease in rental income, while direct sales remained largely stable Revenue Composition (For the six months ended June 30) | Revenue Source (RMB thousand) | 2025 | 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Sales of goods - direct sales | 262,183 | 262,424 | -0.1% | | Revenue from concessionaire sales | 186,699 | 202,619 | -7.9% | | Service income | 20,198 | 17,949 | +12.5% | | Rental income | 148,686 | 161,611 | -8.0% | | **Total Revenue** | **617,766** | **644,603** | **-4.2%** | - The Group's operating business is classified under a single operating segment, focusing on operating department stores, retail and related businesses, and property investment in China, with all non-current assets located in China[10](index=10&type=chunk) [Finance Costs](index=7&type=section&id=5.%20Finance%20Costs) Total finance costs decreased by 12.0% year-on-year to RMB 82.2 million, mainly due to a 19.4% reduction in interest expense on bank borrowings following a decrease in the Loan Prime Rate Finance Costs Details (For the six months ended June 30) | Item (RMB thousand) | 2025 | 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Interest on bank borrowings | 48,581 | 60,302 | -19.4% | | Interest on lease liabilities | 33,659 | 33,203 | +1.4% | | **Total** | **82,240** | **93,505** | **-12.0%** | [(Loss)/Earnings Per Share](index=8&type=section&id=9.%20(Loss)Earnings%20Per%20Share) Due to the turn from profit to loss attributable to owners of the Company, basic and diluted loss per share was RMB 0.003, compared to earnings per share of RMB 0.028 in the prior period, with the weighted average number of ordinary shares remaining unchanged (Loss)/Earnings Per Share Calculation | Item | For the six months ended June 30, 2025 | For the six months ended June 30, 2024 | | :--- | :--- | :--- | | (Loss)/Profit attributable to owners of the Company (RMB thousand) | (3,730) | 41,668 | | Weighted average number of ordinary shares (thousand shares) | 1,464,449 | 1,464,449 | | **Basic and Diluted (Loss)/Earnings Per Share (RMB)** | **(0.003)** | **0.028** | [Dividends](index=8&type=section&id=8.%20Dividends) The Board resolved not to declare an interim dividend for the six months ended June 30, 2025, consistent with the policy in the prior period - The Company did not pay or declare any dividends for the six months ended June 30, 2025 (2024: nil)[15](index=15&type=chunk) [Management Discussion and Analysis](index=11&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of market conditions, financial performance, business operations, and future strategies [Market Overview](index=11&type=section&id=Market%20Overview) In the first half of 2025, China's economy maintained robust growth of 5.3% amidst global slowdowns, with social consumer retail sales increasing by approximately 5%, prompting the Group to optimize product structure, integrate online-offline channels, and enhance its membership system - China's economy demonstrated resilience, with GDP growing approximately **5.3%** year-on-year in the first half of 2025, and total retail sales of consumer goods increasing by approximately **5%** year-on-year[19](index=19&type=chunk) - Consumer demand is becoming more diversified and segmented, with greater emphasis on quality, brand influence, and environmental sustainability; the Group is responding by adjusting product structure, strengthening omnichannel experience, promoting green consumption, and accelerating digital transformation[20](index=20&type=chunk) [Financial Review](index=11&type=section&id=Financial%20Review) Revenue and gross profit decreased by 4.2% and 9.5% respectively, leading to a loss attributable to shareholders, primarily due to reduced concessionaire sales and rental income, coupled with a 15.7% decline in profit from associates, while adjusted EBITDA decreased by 11.0% - Revenue decreased by **4.2%** to **RMB 617.8 million**, mainly due to a decline in revenue from concessionaire sales and rental income; total sales proceeds from all stores slightly decreased by **0.4%**[22](index=22&type=chunk) - Loss attributable to shareholders was **RMB 3.7 million** (compared to a profit of RMB 41.7 million in the prior period), primarily due to a decrease in sales and gross profit, as well as a **15.7%** year-on-year decrease in profit from associate Beijing Renmin Group[24](index=24&type=chunk) Adjusted EBITDA (For the six months ended June 30) | Item (RMB thousand) | 2025 | 2024 | | :--- | :--- | :--- | | Profit before tax | 117,031 | 164,227 | | **Adjusted EBITDA** | **175,380** | **197,060** | [Business Review](index=15&type=section&id=Business%20Review) The performance of the Group's key stores varied, with Shanghai Jiuguang Centre and Shanghai Jiuguang showing growth, while Suzhou Jiuguang experienced a significant decline, and profit from associate Beijing Renmin Group decreased [Shanghai Jiuguang Centre](index=15&type=section&id=Shanghai%20Jiuguang%20Centre) Shanghai Jiuguang Centre's total sales proceeds increased by 8.6% to RMB 911 million, but revenue decreased by 2.0% due to higher discount rates and some rental reductions, while office leasing progressed with occupancy rates of 65% (East Tower) and 21% (West Tower) Shanghai Jiuguang Centre H1 Operating Data | Indicator | H1 2025 | YoY Change | | :--- | :--- | :--- | | Total sales proceeds | RMB 911.2 million | +8.6% | | Revenue | RMB 160.7 million | -2.0% | | Average daily footfall | Approx. 33,500 persons | -1.3% | | Average transaction value | RMB 175 | -3.3% | | Stay-to-purchase ratio | 85.9% | +10.6 percentage points | [Shanghai Jiuguang](index=16&type=section&id=Shanghai%20Jiuguang) Shanghai Jiuguang successfully navigated market challenges by adjusting its operating strategy and merchant mix, leading to a 1.0% increase in total sales proceeds to RMB 1.30 billion despite a 9.0% decrease in average daily footfall, driven by a significant 20.9% rise in average transaction value Shanghai Jiuguang H1 Operating Data | Indicator | H1 2025 | YoY Change | | :--- | :--- | :--- | | Total sales proceeds | RMB 1,300.3 million | +1.0% | | Average daily footfall | 42,600 persons | -9.0% | | Average transaction value | RMB 458 | +20.9% | | Stay-to-purchase ratio | 36.8% | -3.3 percentage points | [Suzhou Jiuguang](index=17&type=section&id=Suzhou%20Jiuguang) Suzhou Jiuguang's performance was weak during the period, with total sales proceeds decreasing by 13.5% to RMB 534 million, despite a 12.3% increase in average daily footfall, primarily due to a significant 15.5 percentage point drop in the stay-to-purchase ratio Suzhou Jiuguang H1 Operating Data | Indicator | H1 2025 | YoY Change | | :--- | :--- | :--- | | Total sales proceeds | RMB 533.7 million | -13.5% | | Average daily footfall | Approx. 16,100 persons | +12.3% | | Average transaction value | RMB 542 | +12.3% | | Stay-to-purchase ratio | 33.7% | -15.5 percentage points | [Investment in Associates](index=17&type=section&id=Investment%20in%20Associates) The Group's share of net profit from associate Beijing Renmin Group decreased by 15.7% year-on-year to RMB 81.0 million, despite a 3.9% increase in Beijing Renmin Group's sales revenue, due to a significant reduction in bank interest income and increased depreciation and interest expenses - Share of net profit from associate Beijing Renmin Group decreased by **15.7%** year-on-year to **RMB 81.0 million**[46](index=46&type=chunk) [Outlook and Plans](index=18&type=section&id=Outlook%20and%20Plans) The Group plans to leverage the Jiuguang brand, advance digital and intelligent transformation using AI for personalized marketing and operational efficiency, and actively respond to green consumption trends to maintain high-quality development - Leverage the Jiuguang brand advantage, promote digital transformation, and utilize data-driven and AI technologies to deepen personalized marketing and enhance customer experience[48](index=48&type=chunk) - Actively respond to green consumption concepts, create "waste-free shopping malls," and continuously optimize merchant and product portfolios by introducing environmentally friendly and unique brands[49](index=49&type=chunk)[50](index=50&type=chunk) - Improve the membership program, use AI technology to analyze member preferences, provide personalized recommendations, and leverage social media platforms to enhance brand exposure[51](index=51&type=chunk)[52](index=52&type=chunk) - Continue to advance the leasing efforts for Shanghai Jiuguang Centre's office buildings to increase rental income and stabilize cash flow[54](index=54&type=chunk) [Other Disclosure Information](index=20&type=section&id=Other%20Disclosure%20Information) This section covers details regarding the company's employees, interim dividend policy, and corporate governance practices [Employees](index=20&type=section&id=Employees) As at June 30, 2025, the Group employed 1,056 staff, a decrease from the prior year, with staff costs decreasing by 7.5% year-on-year to RMB 98.7 million primarily due to a one-off severance payment in the prior period Employees and Costs | Indicator | As at June 30, 2025 | For the six months ended June 30, 2025 | | :--- | :--- | :--- | | Total number of employees | 1,056 persons | N/A | | Staff costs (excluding directors' emoluments) | N/A | RMB 98.7 million | [Interim Dividend](index=20&type=section&id=Interim%20Dividend) The Board resolved not to declare an interim dividend for the six months ended June 30, 2025 - The Board resolved not to declare an interim dividend for the six months ended June 30, 2025 (for the six months ended June 30, 2024: nil)[56](index=56&type=chunk) [Corporate Governance](index=20&type=section&id=Corporate%20Governance) The company complied with the Corporate Governance Code during the period, with the only deviation being the undifferentiated roles of Chairman and Chief Executive Officer, which the company believes benefits business strategy execution and operational efficiency - The Company complied with the Corporate Governance Code, with the only deviation being that the roles of Chairman and Chief Executive Officer are not segregated, which the Company believes is beneficial for the development and execution of business strategies[57](index=57&type=chunk)

Group 1 - The article provides a list of companies involved in various financial activities such as earnings announcements, shareholder meetings, and new stock activities [2][3] - Several companies are mentioned for their dividend distribution dates, indicating their financial performance and shareholder returns [2][3] - The document highlights companies undergoing stock repurchases and capital increases, which may signal their financial strategies and market positioning [3] Group 2 - The article includes a list of companies that are currently in the process of IPOs, reflecting market interest and potential investment opportunities [2] - Companies like Silver Noble Pharmaceuticals and others are noted for their ongoing stock activities, which may attract investor attention [2] - The document also mentions companies that are resuming trading, indicating a potential recovery or change in market conditions [2]

Core Viewpoint - The company expects to report a loss attributable to shareholders of no more than RMB 5 million in the first half of 2025, a significant decline from a profit of approximately RMB 41.7 million in the same period last year, primarily due to intense competition in the retail market [1] Financial Performance - The anticipated shift from profit to loss is attributed to a decrease in sales revenue and gross profit margin during the period [1] - The profit attributable to the company's joint ventures is also expected to decline during the same period [1]

Group 1 - The company, Lifo China (02136), expects to report a loss attributable to shareholders of no more than RMB 5 million in the first half of 2025, compared to a profit of approximately RMB 41.7 million in the same period last year [1] - The expected shift from profit to loss is primarily attributed to intense competition in the retail market, which has led to a decline in both sales revenue and gross profit margin during the period [1] - Additionally, the company's share of profits from joint ventures is also expected to decrease during this period [1]

本 公 司 董 事 會 （ 「 董 事 會 」 ） 謹 此 通 知 本 公 司 股 東 （ 「 股 東 」 ） 及 潛 在 投 資 者，根 據 對 截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月（「 該 期 間 」） 之 本 集 團 未 經 審 核 綜 合 管 理 賬 目 進 行 之 初 步 審 閱 ， 預 期 於 該 期 間 本 公 司 擁 有 人 應 佔 虧 損 將 錄 得 不 多 於 人 民 幣 5.0百 萬 元，而 去 年 同 期 本 公 司 擁 有 人 應 佔 溢 利 約 為 人 民 幣 41.7百 萬 元 。 預 期 由 盈 轉 虧 主 要 受 零 售 市 場 競 爭 激 烈 影 響 ， 本 集 團 於 該 期 間 銷 售 所 得 款 及 毛 利 率 均 錄 得 下 跌 。 同 樣 地 ， 本 集 團 於 該 期 間 的 應 佔 聯 營 公 司 溢 利 亦 錄 得 下 跌 。 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 之 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 ...

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 之 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 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任 。 LIFESTYLE CHINA GROUP LIMITED 公 司 秘 書 潘 福 全 香 港 ， 二 零 二 五年 七 月 二 十 五 日 利福中國集團有限公司 於 本 公 告 日 期 ， 董 事 會 包 括 劉 鑾 鴻 先 生 、 劉 今 晨 先 生 及 劉 今 蟾 小 姐 （ 為 執 行 董 事 ）； 陳 楚 玲 小 姐 （ 為 非 執 行 董 事 ）； 以 及 張 美 嫻 小 姐 、 張 悅 文 先 生 及 林 光 蔚 先 生 （ 為 獨 立 非 執 行 董 事 ）。 (於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ) (股 份代 號：2136) 董事會召開日期 利 福 中 國 集 團 有 限 公 司 ...

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 之 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 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致之 任 何損 失 承擔 任何 責 任。 LIFESTYLE CHINA GROUP LIMITED 利福中國集團有限公司 (於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ) (股 份代 號：2136) 股東週年大會投票表決結果 利福中國集團有限公司（「本公司」）於二零二五年五月二十六日舉行之股東週 年大會（「股東週年大會」）上各項提呈決議案之投票表決結果如下： | | 普通決議案 | 投票票數(%) | | | --- | --- | --- | --- | | | | 贊成 | 反對 | | 1 | 省覽及考慮本公司截至二零二四年 | 1,100,477,993 | 417,000 | | | 十二月三十一日止年度之經審核綜 | (99.962122%) | (0.037 ...