Financial Performance - For the year ended December 31, 2020, the Group's revenue decreased by 6.6%, indicating a gradual recovery in the retail industry[15] - Profit attributable to owners of the Company for the year was RMB212.7 million, a significant recovery from a net loss of RMB83.5 million in 2019[15] - Profit per share for 2020 was RMB0.145, compared to a loss per share of RMB0.057 in 2019[15] - The Group's revenue for the year ended December 31, 2020, decreased by 6.6% to RMB1,124.0 million from RMB1,204.1 million in 2019, primarily due to the pandemic disrupting business activities and consumer spending[34] - Total sales proceeds fell by 10.9% to RMB2,968.2 million from RMB3,332.1 million in the previous year, but the Group recorded a 2.8% growth in total sales proceeds during the second half of 2020 compared to a 25.0% decline in the first half[34] - The Group's adjusted EBITDA decreased to RMB313.8 million from RMB436.6 million in 2019, mainly due to a decrease in sales revenue and margin squeeze[45] Market and Consumer Trends - Consumer sentiment in China has shown signs of improvement, particularly during the Chinese New Year period in 2021, with sales increases in the Group's Jiuguang department stores compared to the same period in 2019[19] - The retail sector faced challenges from increased competition and the rise of online shopping[13] - The Group remains cautiously optimistic about the near-term future of China's retail market, despite the challenges posed by rapidly changing consumption patterns[19] - The rollout of COVID-19 vaccines is expected to lead to a market recovery and further economic growth in China in 2021[71] - The Group's omni-channel marketing strategy aims to capture business opportunities from changing consumption patterns among the middle class and high-spending younger generation[76] Strategic Developments - The Group is developing a new commercial complex in Daning, Shanghai, which will house its second Jiuguang department store[5] - The Daning Project is expected to enhance the Group's market presence and brand equity in Shanghai[5] - The Group plans to enhance the integration of online and offline retail experiences and develop an omni-channel marketing strategy to drive online customers to offline stores[20] - The Group actively introduced more mid-range and high-end products from internationally renowned brands into its department stores to enrich product assortment[34] Operational Efficiency - Selling and distribution costs decreased by 4.3% to RMB408.8 million from RMB427.2 million in 2019, while the percentage of total sales proceeds increased to approximately 13.8% from 12.8%[41] - The average concessionaire rate decreased to approximately 21.0% from 21.6% in 2019, attributed to relief measures provided to business partners during the pandemic[35] - The average concessionaire sales ratio was increased while reducing direct sales to improve sales efficiency at Freshmart[57] Environmental Sustainability - The Group aims to eliminate resource wasting misconduct and minimize the use of scarce resources and energy as part of its environmental sustainability efforts[95] - The Group has established a sewage treatment system to handle sewage in compliance with government standards[103] - The Group promotes the use of recycled paper and shopping bags made from recycled paper to support environmental protection[127] - The Group is gradually adopting long-life and lower power consumption LED lightings to substantially reduce power energy consumption[115] Employee Welfare and Labor Practices - The Group's employee remuneration package is regularly reviewed to ensure competitiveness in the labor market, taking into account performance and experience[140] - The Group maintains a harmonious labor relationship and organizes various leisure and cultural activities to enhance employee well-being[144] - The Group has a comprehensive health and safety program, including insurance coverage for work injuries and regular health checks for employees[150] - The Group provided comprehensive employee insurance plans, including work injury insurance and annual health checks[157] Compliance and Governance - The Group's anti-corruption policy promotes transparency, integrity, and accountability, with mechanisms in place to report misconduct[200] - In the financial year 2020, there were no serious breaches of applicable legislation and regulations[145] - The Group strictly prohibits the employment of individuals under 16 years old and ensures all employment is voluntary[175] - There were no reported incidents of child or forced labor in the financial year 2020[176] Supply Chain Management - The Group's supply chain management emphasizes cooperation with suppliers who share its business philosophy, ensuring fair and responsible practices[184] - Suppliers are contractually required to ensure that their products are non-toxic and meet relevant government and industry standards[185] - The Group encourages business partners to manage environmental and social risks within the supply chain, sharing commitments and standards[182]

Financial Performance - Revenue decreased by 19.3% to RMB 486.6 million[3] - Profit attributable to owners of the Company decreased by 48.0% to RMB 99.2 million[3] - Earnings per share amounted to RMB 0.068, a decrease of 47.7%[3] - The Group's revenue decreased by 19.3% to approximately RMB486.6 million for the six months ended 30 June 2020, compared to RMB603.0 million in the same period of 2019[11] - Total sales proceeds decreased by 25.0% to RMB1,235.1 million during the Period, compared to the same period last year[11] - Gross profit amounted to RMB282.9 million, with a gross profit margin of 22.9%, down from 23.9% in the same period of 2019[11] - Net profit attributable to shareholders decreased by 48.0% to RMB99.2 million, down from RMB190.8 million for the same period last year[11] - The Group's net profit margin as a percentage of revenue dropped to 20.4%, compared to 31.6% for the first half of 2019[11] - The total comprehensive income for the period was RMB 169,932,000, reflecting a decrease compared to the previous period's RMB 319,733,000[59] - Total revenue for the six months ended June 30, 2020, was RMB 486,554,000, a decrease of 19.3% from RMB 602,996,000 in the same period of 2019[76] Retail Sector Performance - Retail sales in the department store sector in China fell by 23.6% year-on-year in the first half of 2020[10] - Retail sales growth of the supermarket sector decelerated to 3.8% in the first half of 2020 from 7.4% in the first half of 2019[10] - Retail sales dropped by 11.4% year-on-year in the first half of 2020 compared to a growth of 8.4% in the first half of 2019[10] - Shanghai Jiuguang's sales proceeds decreased by 26.9% in the first half of 2020, with a 42.2% year-on-year decline in Q1 and a recovery to a 9.5% decline in Q2[22] - Suzhou Jiuguang experienced a 20.3% year-on-year sales drop in the first half of 2020, but achieved a 1.9% sales growth in Q2 after a 38.5% decline in Q1[23] - Freshmart recorded a year-on-year sales decrease of 25.2% in the first half of 2020 due to reduced customer foot traffic[23] - Beiren Group, in which the company holds a strategic equity interest, saw a 28.7% decrease in aggregate sales, but the supermarket segment grew by 7.5%[23] Cost and Expenses - Aggregate selling and distribution costs decreased by 12.2% to RMB184.1 million, down from RMB209.7 million in 2019[11] - Selling and distribution expenses as a percentage of total sales proceeds increased to approximately 14.9% during the Period from 12.7% in the same period in 2019[11] - The Group's general administrative expenses decreased by 1.4% to RMB68.6 million for the Period, primarily due to lower staff costs[15] - Staff costs (excluding directors' emoluments) decreased by 7.1% year-on-year to approximately RMB73.3 million, attributed to reduced social security contributions and headcount[15] - The Group's interest and investment income decreased by 17.6% to RMB29.1 million, primarily due to lower investment income from bank deposits[15] Debt and Financial Position - As at 30 June 2020, the Group's net debt amounted to approximately RMB885.5 million, down from RMB917.3 million as at 31 December 2019[15] - The Group's secured bank loans amounted to approximately RMB2,415 million as at 30 June 2020, compared to RMB2,430 million as at 31 December 2019[15] - The Group's debt to equity ratio was 26.6% as at the Period end, slightly down from 27.1% as at 31 December 2019[15] - The Group pledged property, plant, and equipment valued at RMB3,156 million to secure bank loan facilities[15] Management and Governance - The roles of the Chairman and Chief Executive Officer are not segregated, which facilitates the development and execution of the Group's business strategies[43] - The Company has complied with the Corporate Governance Code provisions during the six months ended June 30, 2020, with one noted deviation regarding the segregation of roles[43] - Mr. Lau Luen Hung, Thomas voluntarily offered to take a 30% salary reduction for a period of 3 months starting from July 1, 2020[43] - The Group's interim results for the six months ended June 30, 2020, have been reviewed by the audit committee and the auditor in accordance with relevant standards[45] Future Outlook - The Group anticipates a gradual recovery in the second half of 2020, benefiting from government policies aimed at stimulating domestic consumption, although uncertainties remain due to the COVID-19 pandemic and geopolitical tensions[27] - The Group aims to boost sales revenue and shareholder returns through various measures and will seek sustainable investment opportunities for long-term growth[27] Investments and Assets - The company’s investments in associates included a 49% equity interest in Beiren Group, which operates department stores and supermarkets in China[106] - The company reported a capitalized amount in construction in progress of RMB 707,947,000 as of June 30, 2020[101] - The Group's non-current assets are entirely located in the PRC[78] Shareholder Information - As of June 30, 2020, Mr. Lau Luen Hung, Thomas holds 252,051,460 shares, representing 17.21% of the issued shares of the Company[33] - The total beneficial ownership of Mr. Lau Luen Hung, Thomas, including controlled corporations, is 1,096,040,292 shares, which is approximately 74.04% of the issued shares[39] Credit and Receivables - The Group recognized a full expected credit loss provision against the trade receivable balance from a group of debtors in Hebei Province, due to their default on outstanding balances and the detention of their guarantor[27] - The Group has not made any progress in recovering overdue trade receivables from debtors, maintaining the full provision decision as the best estimate based on available information as of June 30, 2020[115] - The loss allowance for expected credit losses on trade receivables was RMB 15,624,000 as of June 30, 2020, compared to RMB 66,565,000 as of December 31, 2019, indicating a reduction in credit risk[120]

Economic Environment - In 2019, China's GDP growth was recorded at 6.1%, the lowest since 1991, impacting consumer sentiment and retail sales[10]. - The retail environment is increasingly competitive due to new large shopping malls and the rise of online shopping channels[10]. - The retail sector is facing uncertainties due to worsening epidemic situations in Europe and the United States, complicating recovery predictions for the Chinese retail market[16][21]. - The Chinese government implemented measures to reduce taxes and stimulate domestic consumption in response to the economic slowdown[31]. Company Operations - The Group operates two Jiuguang department stores in Shanghai and Suzhou, targeting the mid to high-end market segments[3]. - The Group is developing a new commercial complex in Daning, Shanghai, which will house its second Jiuguang department store, enhancing market presence[4]. - The Group's strategic stake in Beiren Group diversifies its operations within the retail sector[3]. - The Group's promotional efforts have reduced the loss in foot traffic to competitors, maintaining its customer base[10]. - The Group is prepared to seize new investment opportunities to facilitate long-term sustainable growth[4]. Financial Performance - For the year ended 31 December 2019, the Group's sales revenue increased by 1.7% to RMB1,204.1 million, with department stores in Shanghai and Suzhou recording sales growth of 6.2% and 4.1% respectively[11][14]. - The Group reported a net loss of RMB83.5 million for 2019, a significant decline from a net profit of RMB338.1 million in 2018, primarily due to a share of loss from Beiren Group amounting to RMB294.7 million[11][14]. - Loss per share for 2019 was RMB0.057, compared to earnings per share of RMB0.222 in 2018, with the board deciding not to declare any dividend for the year[11][14]. - Total sales proceeds rose by 3.2% to RMB3,332.1 million in 2019 from RMB3,228.7 million in 2018[32]. - The Group's gross profit amounted to RMB791.4 million in 2019, with a gross profit margin of approximately 23.8%, down from 25.0% in 2018[33]. - The average concessionaire rate decreased to approximately 21.6% from 22.1% recorded in 2018 due to intensifying market competition[33]. Impact of COVID-19 - The COVID-19 outbreak has severely impacted economic activities, leading to adjustments in business hours and enhanced hygiene measures at the Group's department stores[12][15]. - The construction of the complex has been delayed due to the COVID-19 outbreak, affecting tenant recruitment and leasing processes[18][22]. - The COVID-19 pandemic has significantly impacted the business of both Shanghai Jiuguang and Suzhou Jiuguang since February 2020, leading to store closures and reduced operating hours[59]. - The management holds a pessimistic view on economic growth and retail consumption outlook for 2020 due to COVID-19 impacts and potential rise in unemployment[65]. Customer Engagement and Marketing - The Group has adjusted its product assortment towards mid-range and high-end goods to cater to middle-class families, enhancing customer loyalty[10]. - The Group is focusing on targeting middle-class customers and enhancing customer engagement through improved product assortment and digital management systems[17][21]. - Omni-channel marketing initiatives have been implemented since September 2019, allowing customers to share reward points and enjoy shopping convenience across locations[65]. - The mobile internet-enabled application will facilitate functions such as converting reward points into coupons for partner businesses, enabling precision marketing based on customer data[65]. Environmental Responsibility - The total emissions for the financial year 2019 amounted to 422,713.06 tonnes, with an intensity of 1.38 tonnes/sq.m[86]. - The total greenhouse gas emissions of carbon dioxide for the financial year 2019 were 49,975.04 tonnes, corresponding to an intensity of 0.16 tonnes/sq.m[86]. - The Group focuses on waste prevention and management as a key part of its environmental policy, ensuring compliance with government regulations[93]. - The Group's environmental strategy includes adopting effective environmental-friendly operating solutions and setting measurable environmental protection targets[82]. - The Group is committed to minimizing the use of scarce resources and energy in its operations[82]. Employee Management - As of December 31, 2019, the Group employed 1,162 employees, promoting a non-discriminatory work environment[124]. - The Group's performance appraisal management system ensures transparency and fairness in employee evaluations and promotions[125]. - The Group provides comprehensive insurance coverage for work injury and employer liability, along with annual health checks for employees[139][145]. - The Group emphasizes maintaining a safe and healthy work environment, including proper lighting, ventilation, and regular safety training for employees[140][141]. Community Engagement - The Group actively invests in community services, focusing on education and support for underprivileged groups[184]. - The Group donated approximately RMB370,000 to less privileged groups and teenagers in the financial year 2019[193]. - The Suzhou store donated RMB200,000 to support educational activities for students from less privileged families[190]. - The Shanghai store donated RMB60,000 for a charity activity focused on popular science in August 2019[193]. Governance and Compliance - No instances of corruption were reported among employees during the financial year 2019, reflecting the Group's commitment to integrity[183]. - The Group's anti-corruption policy is outlined in the Employees' Handbook, promoting transparency and accountability[182]. - The Group's supply chain management optimizes resource allocation to deliver high-quality products and services, while encouraging business partners to adhere to similar environmental and social standards[158].

Financial Performance - Turnover decreased by 1.1% to approximately RMB603.0 million compared to RMB609.5 million in the same period of 2018[13] - Profit attributable to owners of the Company increased by 7.9% to RMB190.8 million, up from RMB176.8 million in the previous year[15] - Earnings per share rose by 16.1% to RMB0.13[5] - Net sales proceeds increased by 1.2% to RMB1,646.4 million during the period[13] - Gross profit amounted to RMB393.0 million, with a gross profit margin of 23.9%, down from 25.4% in the same period of 2018[14] - The Group's net profit margin as a percentage of turnover was 31.6%, compared to 29.0% for the first half of 2018[15] - The net profit margin based on revenue was 31.6%, an increase from 29.0% in the first half of 2018[18] - Total comprehensive income for the period was RMB 319,733,000, up from RMB 299,781,000 in the previous year, marking a growth of 6.6%[68] - For the six months ended June 30, 2019, the profit attributable to the owners of the Company was RMB 190,772,000, representing an increase from RMB 176,803,000 in 2018, which is a growth of approximately 7.0%[122] Sales and Marketing - Sales of cosmetic products surged by 21.3% year on year at Shanghai Jiuguang, the highest among all product categories[13] - The Group's effective promotional and marketing campaigns contributed to the increase in sales proceeds[13] - The introduction of high-end international brands in Suzhou Jiu Guang contributed to the growth in sales of fashion accessories, home goods, and baby products[16] - The Group's department stores will focus on mid-range and high-end products from internationally renowned brands to cater to middle-class families, enhancing product assortment to differentiate from competitors[37] - The Group plans to implement omni-channel marketing through a mobile internet-enabled application, allowing customers to convert consumption points into cash coupons for partner businesses, enhancing customer engagement and loyalty[38] Operational Efficiency - The Group's aggregate selling and distribution costs decreased by 15.9% to RMB209.7 million, with selling and distribution expenses as a percentage of total sales proceeds dropping to approximately 12.7% from 17.3% in the same period of 2018[21] - Staff costs (excluding directors' emoluments) decreased by 9.0% year on year to approximately RMB78.9 million, attributed to a reduction in overall headcount from 1,216 full-time staff at the end of 2018 to 1,190 as of June 30, 2019[21] - The Group's adjusted EBITDA for the Period increased slightly to RMB205.6 million from RMB198.4 million in the same period of 2018[21] Financial Position - The Group's net debt rose to approximately RMB793.4 million as of June 30, 2019, compared to RMB630.5 million at the end of 2018, primarily due to increased bank borrowings for capital expenditure[21] - The Group's bank balances and cash amounted to approximately RMB1,610.9 million as of June 30, 2019, an increase from RMB1,536.4 million at the end of 2018, due to net realization of structured deposits of approximately RMB89.7 million during the Period[21] - Secured bank loans increased to approximately RMB2,336.9 million as of June 30, 2019, from RMB2,109.0 million at the end of 2018, with an unutilized banking facility of approximately RMB113.1 million[21] - The Group's finance costs increased to approximately RMB67.1 million for the Period, with RMB50.7 million related to the Daning project in Shanghai, which was fully capitalized[21] - The Group's debt to equity ratio was 25.3% as of June 30, 2019, compared to 23.3% at the end of 2018[21] Market Conditions - The impact of the ongoing US-China trade war has affected consumer sentiment and economic growth in China[16] - The retail sector in China faces challenges due to the ongoing Sino-U.S. trade war and a slowdown in economic growth, but government measures to boost domestic consumption may mitigate these impacts[36] Corporate Governance - The Board has resolved not to declare an interim dividend for the six months ended June 30, 2019[44] - The company has complied with the Corporate Governance Code provisions during the six months ended June 30, 2019, with one noted deviation regarding the roles of the Chairman and CEO[57] - The roles of the Chairman and Chief Executive Officer are not segregated, which facilitates the development and execution of the Group's business strategies[57] Accounting Policies - The Group has applied HKFRS 16 for the first time in the current interim period, which supersedes HKAS 17 Leases[80] - The Group's financial statements for the six months ended June 30, 2019, reflect key changes in accounting policies due to the application of HKFRS 16, impacting lease liabilities and right-of-use assets[84] - The Group's accounting policies and methods of computation for the six months ended 30 June 2019 are consistent with those presented in the annual financial statements[80] Shareholder Information - As of June 30, 2019, Mr. Lau Luen Hung, Thomas holds 252,051,460 shares, representing 17.21% of the issued shares, and has interests in controlled corporations totaling 844,988,832 shares, or 57.70%[48] - United Goal holds 540,000,000 shares, representing 36.87% of the issued shares, and is indirectly controlled by Mr. Lau Luen Hung, Thomas[52] - Dynamic Castle, wholly owned by Mr. Lau Luen Hung, Thomas, holds 304,988,832 shares, accounting for 20.83% of the issued shares[52]

Business Operations - Lifestyle China Group Limited operates two "lifestyle" department stores under the Jiuguang brand in Shanghai and Suzhou, targeting the middle to upper-end market in China[5]. - The company disposed of its Hong Kong-based Japanese restaurant "Wa San Mai" and closed two loss-making restaurants in Shanghai and Suzhou in July 2018 to focus on its core department store business[6]. - The Daning Project, a new commercial complex in Shanghai, is expected to be completed in 2019 and will house the Group's second Jiuguang department store, enhancing its market presence[6]. - The Group is developing a retail and commercial complex in Daning, Jing'an District, Shanghai, expected to be completed by the end of 2019[23][27]. - The Group closed two loss-making Japanese restaurants under the "Wa San Mai" brand in Shanghai and Suzhou in July 2018, and sold its Hong Kong-based restaurant under the same brand[61]. - The Group discontinued its restaurant business in China on July 31, 2018, selling its 100% interest in Global Top Limited for HK$52.0 million (approximately RMB43.8 million) to streamline operations[51]. Financial Performance - The Group recorded a turnover of RMB 1,183.8 million for the year ended December 31, 2018, maintaining relative stability despite economic pressures[19]. - Net profit increased by 25.4% to RMB 338.1 million, primarily due to an increase in share of profit from associates and an exchange gain[19][21]. - Earnings per share rose by 32.1% to RMB 0.222, with the Board deciding not to declare any dividend for the year[19][21]. - For the year ended December 31, 2018, the Group's turnover remained relatively flat at RMB 1,183.8 million compared to 2017, despite economic pressures from China's credit tightening and escalating trade tensions[39]. - The Group's net sales proceeds were stable at RMB 3,228.7 million, supported by strong sales in cosmetics products, which were a key driver for turnover growth[39]. - Gross profit amounted to RMB 808.6 million, with a gross profit margin of approximately 25.0% of net sales proceeds, down from 26.1% in 2017[39]. - Aggregate selling and distribution costs decreased by 15.4% to RMB 487.8 million, with selling and distribution expenses as a percentage of total sales proceeds remaining stable at approximately 15.1%[39]. - General administrative expenses increased by 57.7% to approximately RMB 157.1 million, largely due to the reallocation of staff costs from selling and distribution expenses[39]. - The Group's EBITDA decreased from RMB427.5 million in 2017 to approximately RMB387.8 million, mainly due to decreased business turnover and margin pressure[40]. - As of December 31, 2018, the Group's net debt increased to approximately RMB630.5 million from RMB229.1 million in 2017, attributed to increased bank borrowings for capital expenditures[40]. - The Group's bank balances and cash amounted to approximately RMB1,536.4 million, an increase from RMB1,280.8 million at the end of 2017, due to net proceeds from the disposal of structured deposits and listed equity securities[42]. Market Conditions - The Chinese government has implemented measures to stimulate domestic demand and investments, including tax reductions, in response to the slowing economy due to Sino-US trade tensions[17]. - China's GDP growth slowed to 6.6% in 2018 from 6.9% in 2017, impacting consumer sentiment and retail sales growth[32][35]. - Retail sales growth in China's department store segment decelerated to 3.2% in 2018 from 6.7% in 2017[32]. - The Group's business outlook for 2019 is uncertain due to escalating Sino-U.S. trade tensions and external uncertainties affecting the global market[63]. - The Group faces competition from newly opened shopping malls and must adapt to changing consumption patterns driven by a tech-savvy younger consumer group[63]. Marketing and Consumer Engagement - Lifestyle China has intensified promotional and marketing efforts, including precision marketing, to boost consumer sentiment amid increasing competition in the retail market[18]. - The company is enriching its product assortments to better meet the demand for mid-range and high-end goods[18]. - The Group is enhancing its marketing efforts and product assortment to adapt to changing consumer behaviors driven by e-commerce[25][33]. - The Group plans to implement a retail management system to collect data on customer consumption patterns for precision marketing[25][28]. - The Group focused on promotional and marketing campaigns to cope with weakened consumer sentiment and competition from neighboring shopping malls[53]. - The product assortment was further oriented towards mid-range and high-end markets to attract a burgeoning middle class[53]. Environmental Impact - The total emissions for the financial year 2018 were 406,790.49 tonnes, with an intensity of 1.33 tonnes/sq.m[89]. - The greenhouse gas emissions of carbon dioxide for the financial year 2018 were 50,776.47 tonnes, with an intensity of 0.17 tonnes/sq.m[89]. - The total hazardous waste produced in the financial year 2018 was 375.72 tonnes, with an intensity of 1.23 kg/sq.m[90]. - The total non-hazardous waste produced in the financial year 2018 was 406,414.77 tonnes, with an intensity of 1.33 tonnes/sq.m[93]. - The Group has implemented measures to minimize carbon impact by adopting environmentally friendly construction processes[94]. - The Group has established a sewage treatment system in compliance with government standards for urban sewage treatment[96]. - The Group focuses on waste prevention and management as a key part of its environmental policy, ensuring compliance with government regulations[96]. - The Group is committed to minimizing overall energy consumption and maximizing energy efficiency in daily operations[102]. - The Group's total energy consumption for the financial year 2018 was 59,355,545 kWh of electricity, 127,771 cubic meters of natural gas, and 12,760 tonnes of steam, resulting in energy consumption intensities of 194.47 kWh/sq.m., 0.42 cubic meter/sq.m., and 0.04 tonnes/sq.m. respectively[103]. - Total water consumption for the financial year 2018 was 495,726 tonnes, with a corresponding intensity of 1.62 tonnes/sq.m.[103]. Employee and Labor Practices - The Group had 1,216 employees as of December 31, 2018, promoting an equal opportunity work environment free from discrimination[127]. - The Group strictly prohibits the employment of individuals under the age of 16 and ensures all employment is voluntary, with no forced labor[158]. - There were no reported incidents of child or forced labor in the financial year 2018, indicating a commitment to ethical labor practices[159]. - The Group emphasizes the importance of a safe and healthy work environment, conducting regular inspections and providing training on safety procedures[142]. - Employee development policies include performance evaluations and training needs assessments to support personal and professional growth[151]. - In 2018, the Group collaborated with professional training institutions to provide management and team-building training programs for middle to senior management levels[152]. Community Engagement - The Group donated RMB 31,390 for 10 computers to a primary school in Guizhou as part of its community investment initiatives[180]. - The Group provided RMB 200,000 in donations to assist students from less privileged families in the Suzhou Industrial Park[181]. - The Group's community investment efforts focus on supporting less privileged groups and promoting education for the younger generation[179]. - The Group donated a total of RMB944,100 to less privileged groups and teenagers in the financial year 2018[192]. - The Shanghai store donated RMB60,000 to the Shanghai Charitable Education and Training Center to support young children in need[184]. - The Suzhou store contributed RMB200,000 to support students from impoverished families in the Suzhou Industrial Park[183]. - The Shanghai store participated in a charity sale event, donating RMB7,000 to support gynecological examinations for women and aid for the elderly[185]. - The Group donated 80 boxes of goods valued at RMB287,000 to Mali Po, Wenshan County, Yunnan Province, and a charity bazaar supermarket in Shanghai[186]. - A donation of RMB100,000 was made to Yanshan County for a specific poverty alleviation project[187]. - The Suzhou store donated 48 boxes of goods valued at RMB250,000 to Jiuling House for the Elderly[188]. - The Group's community work focused on interacting with disadvantaged communities and education initiatives[192]. - The Group continues to collaborate with various charitable organizations to support local communities[194].