Financial Performance - Total operating revenues for the period amounted to RMB1,993.4 million, representing a decrease of 19.8% compared to RMB2,486.0 million for the corresponding period last year[17] - Same store sales ("SSS") for the period decreased by 20.9%[17] - Total gross sales proceeds ("GSP") for the period were RMB5,002.3 million, representing a year-on-year decrease of 20.0%[17] - Profit from operations for the period was RMB2.7 million, representing a decrease of RMB244.7 million or 98.9% compared to RMB247.4 million for the corresponding period last year[17] - Loss attributable to owners of the Company for the period was RMB197.5 million, compared to a profit of RMB7.0 million recorded for the corresponding period last year[17] - For the six months ended June 30, 2022, the company reported a loss of RMB 196,832,000 compared to a profit of RMB 10,826,000 in the same period of 2021, indicating a significant decline in performance[34] - Total comprehensive expense for the period was RMB 305,467,000, a stark contrast to the comprehensive income of RMB 26,276,000 reported in the previous year[34] Revenue Breakdown - Revenue from contracts with customers for the six months ended June 30, 2022, was RMB 1,547,589, a decrease of 24% from RMB 2,033,814 in the same period of 2021[61] - Direct sales revenue amounted to RMB 1,155,058, down 22% from RMB 1,474,991 in the previous year[63] - Commissions from concessionaire sales were RMB 386,754, representing a decline of 26% compared to RMB 523,116 in 2021[66] - Gross revenue from concessionaire sales decreased to RMB 2,872,126, down 21% from RMB 3,627,459 in the prior year[66] - The Group's revenue from credit services was RMB 32,431, a minor decrease from RMB 33,859 in 2021[61] Operating Expenses - Operating expenses totaled RMB 1,990,702, down from RMB 2,238,581 in the prior year, reflecting a decrease of 11.1%[32] - Total staff costs for the six months ended June 30, 2022, were RMB 280,851, a decrease of 2.0% from RMB 288,008 in 2021[72] - Total rental expenses for the same period were RMB 12,828, significantly down from RMB 46,305 in 2021, primarily due to COVID-19 related rent concessions[72] - The company reported finance costs of RMB 217,673, compared to RMB 259,459 in the same period of 2021[32] Assets and Liabilities - Non-current assets decreased from RMB 9,436,636,000 as of December 31, 2021, to RMB 9,120,044,000 as of June 30, 2022, reflecting a reduction in property, plant, and equipment[38] - Current liabilities decreased from RMB 4,628,155,000 at the end of 2021 to RMB 2,867,371,000 by June 30, 2022, indicating improved liquidity management[38] - The company's total equity decreased from RMB 4,056,674,000 to RMB 3,749,903,000, reflecting a decline in net assets[40] - The company reported a decrease in inventories from RMB 489,619,000 to RMB 434,030,000, suggesting improved inventory management[38] Cash Flow and Liquidity - Cash and cash equivalents increased significantly from RMB 925,162,000 at the end of 2021 to RMB 1,749,323,000 by June 30, 2022, enhancing the company's cash position[38] - Cash generated from operating activities for the six months ended June 30, 2022, was RMB 260,730,000, a decrease from RMB 364,425,000 in the same period of 2021[45] - Net cash flows generated from operating activities were RMB 213,899,000, compared to RMB 284,841,000 in the previous year[45] - The net increase in cash and cash equivalents for the six months ended June 30, 2022, was RMB 55,346,000, contrasting with a net decrease of RMB (912,947,000) in the same period of the previous year[48] Financial Position - The Group's total cash and cash equivalents reached RMB 1,749,323,000, up from RMB 925,162,000, marking an increase of 89.0%[146] - The Group's secured bank loans denominated in HK$ totaled RMB 2,195,811,000 as of June 30, 2022, compared to RMB 1,726,771,000 as of December 31, 2021, indicating a significant increase[158] - The Group's bank credit facilities of RMB 117,683,000 were unutilized as of June 30, 2022, down from RMB 2,276,980,000 as of December 31, 2021, reflecting a substantial reduction in available credit[158] Impairments and Losses - The company incurred an impairment of goodwill amounting to RMB 7,585,000 during the reporting period[45] - The Group reported a foreign exchange loss of RMB 21,805,000 during the period[45] - The loss on disposal of property, plant, and equipment and investment properties was RMB 1,497 for the six months ended June 30, 2022[72] Market Conditions - The Group's business has been adversely affected by the recurrence of the COVID-19 pandemic in various cities in the PRC since early 2022, contributing to uncertainties in the global economic environment[200]

Financial Performance - The total operating revenue for the three months ended March 31, 2022, was RMB 1,117.0 million, a decrease of RMB 186.8 million or 14.3% compared to the same period last year[3]. - Same-store sales declined during the same period, contributing to a total sales revenue (including VAT) of RMB 2,895.6 million, down from RMB 3,356.0 million in the previous year[3]. - Operating profit for the three months was RMB 71.4 million, a decrease of RMB 46.3 million or 39.3% from RMB 117.7 million in the same period last year[3]. - The company reported a loss attributable to owners of RMB 30.1 million, compared to a profit of RMB 0.4 million in the same period last year[3]. - Total sales revenue for the three months ended March 31, 2022, was RMB 2,895.6 million, a decrease of 13.7% compared to the same period last year, primarily due to a decline in same-store sales[25]. - Same-store sales decreased by 19.1% for the three months ended March 31, 2022, attributed to the impact of COVID-19 variants in China[25]. - Operating profit for the three months ended March 31, 2022, was RMB 71.4 million, a decrease of RMB 46.3 million or 39.3% from RMB 117.7 million in the same period last year[29]. - Total operating expenses, excluding procurement of goods and inventory changes, decreased by RMB 23.0 million or 4.6% to RMB 479.3 million for the three months ended March 31, 2022[28]. - Revenue from customer contracts accounted for 79.4% of total operating profit, decreasing by 3.6% compared to the same period last year[27]. - The company recorded a loss attributable to shareholders of RMB 30.1 million for the three months ended March 31, 2022, compared to a profit of RMB 0.4 million in the same period last year, a decrease of RMB 30.5 million[32]. - Operating profit decreased primarily due to reduced revenue from customer contracts, including self-operated sales and consulting services[27]. Assets and Liabilities - Non-current assets as of March 31, 2022, totaled RMB 9,351.2 million, slightly down from RMB 9,436.6 million as of December 31, 2021[6]. - Current assets amounted to RMB 2,906.2 million, compared to RMB 2,881.5 million at the end of the previous year[6]. - Total liabilities decreased to RMB 5,545.1 million from RMB 5,633.3 million as of December 31, 2021[8]. - The net cash flow from operating activities was a negative RMB 87.7 million for the period[13]. - Cash and cash equivalents at the end of the period were RMB 1,523.5 million, up from RMB 925.2 million at the beginning of the period[20]. Impact of COVID-19 - The company experienced significant impacts on financial metrics due to COVID-19 variants affecting operations in China[3]. - The company remains optimistic about the overall industry outlook despite challenges from the pandemic and macroeconomic instability[32]. Store Operations - The company operates 43 Parkson stores across 30 cities, including the newly opened Parkson Beauty in Wenzhou[32]. - Direct sales accounted for 27.9% of total sales, down 17.6% from the previous year, while licensed counter sales accounted for 72.1%, down 13.9%[30].

Business Operations and Expansion - As of December 31, 2021, Parkson operated and managed 43 stores across 30 cities in China, including department stores, shopping malls, and supermarkets[3]. - New store openings included Sichuan Shishang Parkson Outlets in December 2021 and Wuzhou Sanqi Parkson in September 2021, contributing to the Group's expansion efforts[13]. - New store openings included Datong Parkson and Wuzhou Sanqi Parkson in January and September 2021, respectively[26]. - "Parkson Changfa Hui" commenced trial operations on December 31, 2021, as part of the Group's expansion strategy[26]. - Parkson opened its second department store in Datong City, Shanxi Province in January 2021, enhancing its retail portfolio with a "department store and shopping mall complex" model[29]. - The fourth store in Guangxi Zhuang Autonomous Region, "Wuzhou Sanqi Parkson," commenced service in September 2021, integrating office, residence, hotel, F&B, retail, and entertainment[29]. - The Group signed a Tenancy Agreement for a new store in Yichun City, Jiangxi Province, expected to open in 2022, which will be the third store in Jiangxi Province[29]. Financial Performance - The Group recorded gross sales proceeds of RMB 11,916.8 million, an increase of 6.2% over the previous year, primarily due to a 4.7% increase in same-store sales[26]. - The overall gross profit margin decreased to 14.2% compared to 15.3% in 2020, while total operating income increased by RMB 310.2 million or 7.0% to RMB 4,738.5 million[26]. - Operating profit was RMB 323.6 million, a decrease of 7.3% over the same period last year[26]. - Total gross sales proceeds increased by 6.3% to RMB10,667.3 million in 2021[49]. - Total operating revenues rose by 7.0% to RMB4,738.5 million in 2021[49]. - Same-store sales (SSS) increased by 4.7% in 2021, contributing to the rise in total merchandise sales[57]. - Total merchandise sales (net of value-added tax) increased by RMB391.2 million or 4.2% to RMB9,612.0 million in 2021[61]. - The net loss attributable to owners of the Company for 2021 was approximately RMB175.98 million, a decrease of 29.6% compared to the previous year[49]. Market Trends and Consumer Behavior - In 2021, China's GDP reached RMB 114.4 trillion, representing an increase of 8.1% from 2020, while total retail sales of consumer goods increased by 12.5% year-on-year[17]. - The introduction of COVID-19 vaccines led to effective control over the pandemic, allowing for a rebound in consumption and stabilization of the retail market in China[23]. - The Group remains positive about the retail market's prospects, emphasizing the importance of consumer spending as a primary driver of economic growth in China[23]. - The Group is committed to diversifying income sources and enhancing customer experience to capture potential opportunities in the retail market[23]. Strategic Initiatives - The Group's strategy focuses on localization and consistent market positioning, tailoring merchandise assortments and brand mixes to better serve middle to middle-upper end consumers[3]. - The Group emphasizes the importance of strategic partnerships and potential mergers and acquisitions to strengthen its market position[16]. - The Group plans to expand product categories and enhance online advertising to attract offline retail sales, continuing to implement the "O2O New Retail Strategy"[37]. - The Group aims to integrate online and offline retail experiences through social media platforms to expand market share[37]. - The Group is expanding its product portfolio to meet growing consumer needs, particularly in the beauty sector, by collaborating with well-known brands and launching exclusive products[32]. Management and Governance - The management remains committed to sustainable growth and enhancing shareholder value through effective governance and operational strategies[16]. - The Company appointed Zhou Jia as the Acting Chief Executive Officer in January 2022, who has extensive experience in retail operations since joining the group in 1995[111]. - The Company fully complied with the Corporate Governance Code during the year ended December 31, 2021, except for a deviation regarding the roles of Chairman and CEO[126]. - The Company has established written guidelines for securities transactions by employees likely to possess unpublished price-sensitive information[126]. - The Board comprises 6 Directors, including 2 executive Directors, 1 non-executive Director, and 3 Independent non-executive Directors[129]. Risk Management and Compliance - The Company is committed to enhancing its corporate governance practices and reviewing them periodically[126]. - The Company has a strategic focus on risk management and compliance, ensuring robust governance practices[121]. - The Audit Committee is responsible for advising the Board on the appointment and retention of external auditors and reviewing their independence[175]. - The Company has not noted any incidents of non-compliance with the Employees Written Guidelines[126].

PARKSON 百盛 Retail Group Limited 商業集團有限公司 Stock Code 股份代號:3368 2021 INTERIM REPORT 中期報告 CONTENTS 目錄 | --- | --- | --- | |-------------------------------------------------------------------|----------------------------|-------| | Corporate Information | | | | Financial Highlights | 公司資料 | | | Independent Review Report | 財務摘要 | | | Interim Condensed Consolidated Statement of Profit or Loss | 獨立審閱報告 | | | Interim Condensed Consolidated Statement of Comprehensive Income | 中期簡明綜合損益表 | | | | 中期簡明綜合全面收益表 | | | Inte ...

PARKSON 百盛 Retail Group Limited 商業集團有限公司 Stock Code 股份代號：3368 PARKSON BEAUTY PARKSON 百盛 ANNUAL REPORT | --- | --- | |-------|-------| | | | | | | | | | 2 2020 ANNUAL REPORT 年度報告 Parkson Retail Group Limited (the "Company") is a leading nationwide lifestyle retail operator in the People's Republic of China ("the PRC"). The Parkson brand was introduced to the Beijing market in the early 1990's and has now operated and managed a diversified collection of retail formats – including department stores, shopping m ...

PARKSON 百盛 Retail Group Limited 商業集團有限公司 Stock Code 股份代號: 3368 al page 2020 INTERIM REPORT 中期報告 CONTENTS 目錄 CONTENTS 目錄 | --- | --- | |-------------------------------------------------------------------|----------------------------| | | | | Corporate Information | 公司資料 | | Financial Highlights | 財務摘要 | | Independent Review Report | 獨立審閱報告 | | Interim Condensed Consolidated Statement of Profit or Loss | 中期簡明綜合損益表 | | Interim Condensed Consolidated Statement of Comprehensive Income | 中期簡明綜合全面收益表 | | Interim C ...

PARKSON 百盛 Retail Group Limited 商業集團有限公司 Stock Code 股份代號 : 3368 2019 ANNUAL REPORT 年報 CORPORATE PROFILE 公司簡介 2 2019 ANNUAL REPORT 年度報告 Parkson Retail Group Limited (the"Company") is a leading nationwide lifestyle retail operator in the People's Republic of China ("the PRC"). The Parkson brand was introduced to the Beijing market in the early 1990's and has now operated and managed a diversified collection of retail formats – including department stores, shopping malls, city outlets, supermarkets and food & ...

PARKSON 百盛 Retail Group Limited 商業集團有限公司 Stock Code 股份代號 : 3368 1-44 | 975 2019 INTERIM REPORT 中期報告 CONTENTS 目錄 CONTENTS 目錄 Corporate Information 公司資料_2 Management Discussion and Analysis 管理層討論及分析_48 Financial Highlights 財務摘要_4 Financial Review 財務回顧_52 Report on Review of Interim Financial Information 中期財務資料的審閱報告_5 Directors' and Chief Executive's Interests and Short Positions in Shares and Underlying Shares 董事及最高行政人員於股份及相關股份的 權益及淡倉_60 Interim Condensed Consolidated Statement of Profit or Loss 中期簡明綜合損益表_6 S ...

PARKSON 百盛 Retail Group Limited 商業集團有限公司 Stock Code 股份代號: 3368 PARKSON BEAUTY GORCO ARMAN STEE LAU PARKSON 自破 Annual Report 2018 年報 公司簡介 CORPORATE PROFILE 公司簡介 CORPORATE PROFILE 公司簡介 2 Parkson Retail Group Limited (the "Company") is a leading nationwide lifestyle retail operator in the People's Republic of China ("the PRC"). The Parkson brand was introduced to the Beijing market in the early 1990's and has now operated and managed a diversified collection of retail formats – including department stores, sho ...