Financial Performance - The company's revenue increased by 33.3% to RMB 128.1 million, with a net loss reduced from RMB 17.1 million to RMB 7.3 million[8]. - Total revenue increased by RMB 32.0 million to RMB 128.1 million in 2023, representing a growth of 33.3% compared to RMB 96.1 million in 2022[20]. - Online retail sales reached RMB 117.1 million, accounting for 91.4% of total sales, with a year-on-year increase of 37.0%[20][24]. - Gross profit increased by RMB 15.6 million or 30.1% to approximately RMB 67.5 million, with a gross margin of 52.7% in 2023, down from 54.0% in 2022[28]. - Selling and distribution costs rose by RMB 7.0 million or 13.3% to approximately RMB 59.6 million, attributed to increased marketing expenses and delivery costs[29]. - Administrative and other operating expenses decreased by RMB 3.8 million or 21.8% to approximately RMB 13.6 million, mainly due to reduced foreign exchange losses[30]. Business Segments - The luggage and travel accessories business experienced a remarkable revenue growth of 141.9%, with revenue rising from RMB 20.3 million to RMB 49.1 million, accounting for 38.3% of total revenue[12]. - The handbag business saw a modest revenue increase of 4.2%, with total revenue reaching RMB 79.0 million compared to RMB 75.8 million in 2022[13]. - ELLE brand revenue grew by 40.6%, while Jessie & Jane brand revenue declined by 65.8%, with ELLE accounting for approximately 98.3% of total sales[13]. - The company has allocated more resources and increased marketing efforts to support the travel and accessories segment, which has returned to profitability[12]. Strategic Focus - The company plans to focus on developing value-driven products to outperform competitors amid a recovering economy[9]. - The company aims to leverage online marketing strategies and partnerships with major e-commerce platforms to boost brand sales and visibility[13]. - The company will continue to enhance its live-streaming capabilities and adjust its supply chain and product development to support this sales channel[9]. - The group is focusing on providing better value propositions and streamlining the supply chain to pass on cost savings to consumers[41]. Economic Outlook - The economic recovery in China is expected to continue, driven by strong travel demand, which is anticipated to benefit the luggage and travel accessories business in 2024[9]. - The group anticipates an improvement in consumer spending in 2024, driven by government stimulus measures and potential interest rate cuts by the US Federal Reserve[39]. - The overall consumer spending behavior is cautious, with a shift towards experiential consumption rather than non-essential goods[12]. Corporate Governance - The company emphasizes high standards of corporate governance and compliance with GEM listing rules, ensuring adherence to applicable codes[62]. - The company promotes a culture of integrity and ethical conduct among its directors, reinforcing its corporate values[63]. - The board consists of seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors[65]. - The roles of the chairman and the CEO are clearly defined and separated to ensure a balance of power[81]. - The audit committee is responsible for overseeing the effectiveness of the company's internal control and risk management systems[103]. ESG Initiatives - The ESG report covers the period from January 1, 2023, to December 31, 2023, highlighting the group's efforts and achievements in corporate social responsibility and sustainability[130]. - The group emphasizes compliance with national policies, laws, and regulations, and supports local economic growth as part of its stakeholder communication strategy[140]. - The importance of ESG management is recognized as crucial for the long-term development of the business, with regular reviews of ESG policies and performance planned[135]. - The group aims to enhance its ESG performance through short-term goals and regular updates on the execution of related plans[135]. Environmental Performance - Total energy consumption decreased to 63 MWh in 2023 from 81 MWh in 2022, representing a reduction of approximately 22.22%[161]. - Water consumption significantly decreased to 157 cubic meters in 2023 from 782 cubic meters in 2022, a reduction of approximately 80%[162]. - Total greenhouse gas emissions for 2023 were 42 metric tons of CO2 equivalent, a decrease of 23.64% from 55 metric tons in 2022[167]. - The company has implemented a paperless office initiative, utilizing electronic communication to reduce paper usage[165]. Employee Management - The total employee cost for the year ending December 31, 2023, was RMB 9.8 million, down from RMB 10.5 million in 2022[43]. - The group employed 49 staff members as of December 31, 2023, down from 54 in 2022[43]. - The company provided an average training duration of 3.27 hours per employee in 2023, an increase from 2.96 hours in 2022[178]. - Female employees accounted for 38 out of 49 total employees, with a turnover rate of 23% for women compared to 0% for men[174]. Risk Management - The company faced risks related to brand licensing agreements and the operation of third-party e-commerce platforms, which could significantly impact performance[16]. - The external internal control consultant did not identify any significant control deficiencies during their review of the internal control system[103]. - The company has established a whistleblowing policy for employees to confidentially report concerns regarding financial reporting and internal controls[112].

Financial Performance - The total revenue for the year ended December 31, 2023, was RMB 128.1 million, an increase of 33.3% or RMB 32.0 million compared to RMB 96.1 million for the year ended December 31, 2022[6]. - The group reported a loss of RMB 7.3 million for the year, an improvement from a loss of RMB 17.1 million in the previous year[6]. - Online business revenue reached RMB 126.5 million, up 33.2% year-over-year, with online retail sales contributing RMB 117.1 million, a 37.0% increase[6]. - Offline business revenue grew to RMB 1.6 million, a 45.5% increase, despite a decline in wholesale to offline retailers[6]. - The gross profit for the year was RMB 67.5 million, compared to RMB 51.9 million in the previous year, reflecting a gross margin improvement[7]. - For the year ended December 31, 2023, the group reported a net loss of approximately RMB 7,256,000, with cash used in operating activities amounting to approximately RMB 2,407,000[21]. - The group's revenue increased to approximately RMB 128,109,000 for the year ended December 31, 2023, a reduction in net loss compared to the previous year[21]. - Loss before tax improved to RMB 5,553 thousand in 2023 from RMB 17,343 thousand in 2022, indicating a reduction of approximately 68%[52]. - Basic loss per share decreased to RMB 8,249 thousand in 2023 from RMB 16,296 thousand in 2022, showing an improvement of about 49%[55]. - Other income totaled RMB 3,054 thousand in 2023, an increase from RMB 2,646 thousand in 2022, reflecting a growth of approximately 15.4%[48]. Cash Flow and Liquidity - The company’s cash and bank balances decreased to RMB 7.4 million from RMB 9.7 million in the previous year[12]. - The company reported a decrease in cash deposits in banks in China to RMB 2,394,000 in 2023 from RMB 4,995,000 in 2022, affecting overall cash flow[62]. - Cash and cash equivalents decreased to RMB 7,445,000 in 2023 from RMB 9,659,000 in 2022, reflecting a reduction in liquidity[62]. - The board believes that the group will have sufficient cash resources to meet its operational funding and financial obligations for the next eighteen months[23]. - The group has not received any repayment demands from banks, indicating strong support from financial institutions[22]. Assets and Liabilities - The company’s total assets less current liabilities stood at RMB 5.4 million, down from RMB 7.1 million in the previous year[12]. - As of December 31, 2023, the group had current liabilities of approximately RMB 18,133,000, including RMB 11,781,000 in revolving bank loans[22]. - The company identified RMB 11,781,000 in unsecured bank loans classified as current liabilities due to maturity in the first half of 2024, but will be reclassified as non-current liabilities under new accounting standards[35]. - Loans from a shareholder amounting to RMB 8,270,000 will be classified as current liabilities starting from December 31, 2023, due to the inability to defer repayment for at least twelve months[36]. - Total borrowings decreased to RMB 18,133,000 in 2023 from RMB 20,963,000 in 2022, indicating a reduction in debt levels[64]. Revenue Breakdown - Revenue from external customers in mainland China increased to RMB 128,109 thousand in 2023, up from RMB 96,070 thousand in 2022, representing a growth of approximately 33.4%[45]. - Online retail sales increased to RMB 117,084 thousand in 2023, up from RMB 85,487 thousand in 2022, representing a growth of 37%[41]. - Revenue from travel and accessories increased significantly from RMB 20.3 million to RMB 49.1 million, representing a growth of 141.9%[82]. - Women's handbag revenue grew by 4.2% to RMB 79.0 million, compared to RMB 75.8 million in 2022[83]. - Wholesale revenue to offline retailers decreased by 74.3%, while online retail sales increased by approximately 37.0%, contributing RMB 31.6 million to total revenue[92]. Expenses and Cost Management - Sales and distribution costs increased by approximately RMB 7.0 million or 13.3% to about RMB 59.6 million, primarily due to increased marketing expenses and delivery costs[97]. - Administrative and other operating expenses decreased by approximately RMB 3.8 million or 21.8% to about RMB 13.6 million, mainly due to reduced foreign exchange losses[99]. - The company recorded a decrease in accrued expenses to RMB 4,585,000 in 2023 from RMB 5,559,000 in 2022, suggesting improved expense management[63]. Corporate Governance and Compliance - The company is committed to maintaining high standards of corporate governance and has complied with the applicable code provisions during the year[115]. - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2023[121]. - The independent auditor confirmed that the preliminary announced figures for the year ending December 31, 2023, align with the audited financial statements[122]. Future Outlook - The company anticipates improved consumer spending in 2024 due to government stimulus measures and a more stable economy[106]. - The company is focusing on providing better value propositions and streamlining its supply chain to enhance customer service and product offerings[108]. Shareholder Information - The board did not recommend the payment of a final dividend for the year ended December 31, 2023[6]. - The company did not declare or pay any dividends to its equity holders for the year ended December 31, 2023, consistent with 2022[53]. - The annual general meeting is scheduled for June 20, 2024, with the shareholder register closing from June 17 to June 20, 2024[113][114].

Financial Performance - Revenue for Q3 2023 reached RMB 37,803 thousand, a 17.5% increase from RMB 32,035 thousand in Q3 2022[3] - Gross profit for the nine months ended September 30, 2023, was RMB 50,309 thousand, up 26.0% from RMB 39,951 thousand in the same period of 2022[3] - The net profit for Q3 2023 was RMB 938 thousand, compared to a net loss of RMB 1,428 thousand in Q3 2022[3] - The company reported a total comprehensive income of RMB 918 thousand for Q3 2023, reversing from a loss of RMB 762 thousand in Q3 2022[3] - The basic and diluted earnings per share for Q3 2023 were RMB 0.07, compared to a loss per share of RMB 0.28 in Q3 2022[6] - Total revenue for the nine months ended September 30, 2023, was RMB 99,485 thousand, a 37.0% increase from RMB 72,641 thousand in the same period of 2022[3] - For the nine months ended September 30, 2023, the company recorded a net loss of RMB 2,359,000[20] - The company's loss for the nine months ended September 30, 2023, was approximately RMB 24 million, a reduction of RMB 89 million or 78.8% from a loss of RMB 113 million in the same period of 2022[54] Expenses and Costs - The company incurred financing costs of RMB 296 thousand in Q3 2023, an increase from RMB 173 thousand in Q3 2022[3] - The company’s administrative and other operating expenses decreased to RMB 2,785 thousand in Q3 2023 from RMB 3,721 thousand in Q3 2022[3] - The sales and distribution costs increased to approximately RMB 472 million for the nine months ended September 30, 2023, up RMB 74 million or 18.6% from RMB 398 million in the same period of 2022[51] - The administrative and other operating expenses decreased to approximately RMB 100 million for the nine months ended September 30, 2023, down RMB 18 million or 15.3% from RMB 118 million in the same period of 2022[52] - The total employee cost for the nine months ended September 30, 2023, was RMB 7.0 million, a decrease from RMB 7.4 million for the same period in 2022[59] Revenue Sources - Online retail sales for the three months ended September 30, 2023, reached RMB 35,639,000, a 22.5% increase from RMB 29,000,000 in the same period of 2022[24] - Online retail accounted for 91.0% of total sales, with online retail and wholesale to online retailers increasing by 35.2% and 62.4%, respectively, during the first nine months of 2023[42] - Revenue from external customers in mainland China (excluding Hong Kong) for the nine months ended September 30, 2023, was RMB 99,485,000, compared to RMB 72,641,000 in 2022[28] - The company has no customers contributing more than 10% of total revenue for the nine months ended September 30, 2023[32] Financial Position - The total equity attributable to the company's equity holders as of September 30, 2023, was RMB 1,666 thousand, down from RMB 9,942 thousand as of September 30, 2022[8] - As of September 30, 2023, the company's cash and bank balances amounted to RMB 6,837,000[20] - The company's net current liabilities as of September 30, 2023, were RMB 2,415,000[20] - The company’s designated non-current assets in mainland China (excluding Hong Kong) amounted to RMB 3,365,000 as of September 30, 2023[31] Corporate Governance and Compliance - The company adopted new and revised Hong Kong Financial Reporting Standards effective January 1, 2023, with no significant impact on the financial statements[18] - The company has adhered to the corporate governance code as per GEM listing rules throughout the nine months ending September 30, 2023[82] - The audit committee, consisting of three independent non-executive directors, reviewed the group's accounting principles and financial reporting matters for the nine months ending September 30, 2023[88] Future Outlook - The management holds a cautiously optimistic outlook for Q4 2023 and 2024, anticipating positive effects from government incentives to boost consumer confidence and stimulate the economy[45] - The company expects to have sufficient resources to continue operations for the foreseeable future[20] Shareholder Information - The major shareholders include Yen Sheng BVI, holding 291,838,960 shares, representing 52.1141% of the total[68] - The group has not granted, exercised, or canceled any stock options under the stock option plan since its adoption[75] Miscellaneous - There were no significant events requiring disclosure from September 30, 2023, to the report date[60] - The group did not have any major acquisitions or disposals of subsidiaries or associates during the nine months ending September 30, 2023[79] - There were no competitive business interests held by directors or controlling shareholders that could conflict with the group's business as of September 30, 2023[83] - As of September 30, 2023, the group did not hold any significant investments[56] - As of September 30, 2023, the group had no assets pledged for general bank financing[57] - As of September 30, 2023, the company did not engage in any purchase, sale, or redemption of its listed securities during the nine months[77] - There were no significant investments or future capital asset plans disclosed other than those in the prospectus as of September 30, 2023[78]

Sling Group Holdings Limited 森 浩 集 團 股 份 有 限 公司 （於開曼群島註冊成立之有限公司） （股份代號：8285） 截至2023年9月30日止九個月 第三季度業績公佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位乃為相比起聯交所主板上市的其他公司帶有更高投資風險的中小型公司提供 上市的市場。有意投資者應了解投資於此類公司的潛在風險，並應經審慎周詳考慮後方 作出投資決定。 由於在GEM上市的公司一般為中小型公司，在GEM買賣的證券可能會承受較於聯交所 主板買賣的證券為高的市場波動風險，同時亦無法保證在GEM買賣的證券會有高流通量 的市場。 香港交易及結算所有限公司及聯交所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，並明確表示概不會對本公佈的全部或任何部分內容所產生或因依賴該 等內容而引致的任何損失承擔任何責任。 本公佈乃遵照聯交所GEM證券上市規則（「GEM上市規則」）的規定提供有關森浩集團股 份有限公司（「本公司」）的資料。本公司董事（「董事」）願對此共同及個別承擔全部責任。 董事在作出一切合理查詢後確認，就彼等深知及確信，本公佈所載資 ...

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 61,682 thousand, representing a 52.0% increase compared to RMB 40,606 thousand for the same period in 2022[3] - Gross profit for the six months ended June 30, 2023, was RMB 32,290 thousand, up 41.6% from RMB 22,783 thousand in the previous year[3] - The net loss for the six months ended June 30, 2023, was RMB 3,297 thousand, a 66.7% improvement compared to a net loss of RMB 9,884 thousand for the same period in 2022[3] - The company reported a net loss of RMB 9,079,000 for the six months ended June 30, 2023, compared to a net loss of RMB 3,417,000 for the same period in 2022, indicating a significant increase in losses[13] - The company’s total comprehensive loss for the six months ended June 30, 2023, was RMB 9,256,000, compared to RMB 3,080,000 for the same period in 2022[13] - The group's loss for the six months ended June 30, 2023, was approximately RMB 3.3 million, a decrease of approximately RMB 6.6 million from a loss of approximately RMB 9.9 million for the same period in 2022[78] Assets and Liabilities - Total assets as of June 30, 2023, were RMB 42,968 thousand, slightly up from RMB 42,099 thousand as of December 31, 2022[9] - Current liabilities increased to RMB 46,153 thousand as of June 30, 2023, compared to RMB 42,236 thousand at the end of 2022[9] - The company reported a decrease in cash and bank balances to RMB 7,783 thousand from RMB 9,659 thousand as of December 31, 2022[9] - The company's equity attributable to owners decreased to RMB 1,275 thousand as of June 30, 2023, from RMB 4,475 thousand at the end of 2022[11] - Trade receivables increased to RMB 5,977,000 as of June 30, 2023, up from RMB 5,569,000 as of December 31, 2022, while expected credit loss provisions decreased from RMB 3,975,000 to RMB 3,570,000[52] - Trade payables rose to RMB 16,249,000 as of June 30, 2023, compared to RMB 11,781,000 as of December 31, 2022[56] Cash Flow - Cash and cash equivalents decreased by RMB 1,876,000 during the six months ended June 30, 2023, compared to an increase of RMB 2,098,000 in the same period of 2022[16] - The net cash generated from operating activities was RMB 534,000 for the six months ended June 30, 2023, an increase from RMB 412,000 in the previous year[16] - The company’s financing activities resulted in a net cash outflow of RMB 2,408,000 for the six months ended June 30, 2023, compared to a net cash inflow of RMB 1,679,000 in the previous year[16] Revenue Breakdown - Online retail sales for the six months ended June 30, 2023, increased to RMB 54,907,000, up 44.5% from RMB 37,982,000 in the same period of 2022[32] - Wholesale to online retailers for the same period rose to RMB 6,372,000, a 174.5% increase from RMB 2,326,000 in 2022[32] - Total revenue from external customers in China (excluding Hong Kong) for the six months ended June 30, 2023, was RMB 61,682,000, compared to RMB 40,606,000 in 2022, representing a 51.9% growth[36] - Revenue from luggage and travel products surged from RMB 68 million to RMB 205 million, reflecting a significant recovery in sales following the reopening of China in January 2023[64] - Online retail accounted for 89.0% of total sales, with revenue from online retail and wholesale to online retailers increasing by 44.6% and 173.9%, respectively[65] Costs and Expenses - The cost of goods sold for the six months ended June 30, 2023, was RMB 29,130,000, up from RMB 17,587,000 in 2022[43] - The group reported a total employee cost of RMB 4,761,000 for the six months ended June 30, 2023, compared to RMB 4,981,000 in 2022[43] - Sales and distribution costs rose from approximately RMB 23.9 million for the six months ended June 30, 2022, to approximately RMB 30.1 million for the six months ended June 30, 2023, an increase of approximately RMB 6.2 million or 25.9%[73] - The group's administrative and other operating expenses decreased from approximately RMB 8.1 million for the six months ended June 30, 2022, to approximately RMB 7.2 million for the six months ended June 30, 2023, a reduction of approximately RMB 900,000 or 11.1%[74] Shareholder Information - As of June 30, 2023, the major shareholders Yen Sheng BVI and its beneficial owners, Mr. Qiu Tai Liang and Mr. Qiu Tai Nian, each hold 291,838,960 shares, representing 52.1141% of the company's total shares[99] - Mr. Qiu Tai Liang and Mr. Qiu Tai Nian each have approximately 49.3120% and 49.2321% ownership in Yen Sheng BVI, respectively[93] Corporate Governance - The company maintained compliance with the corporate governance code applicable to it during the six months ended June 30, 2023[113] - The Audit Committee, established on December 15, 2017, consists of three independent non-executive directors and is responsible for overseeing the financial reporting process and risk management[116] - The Audit Committee has reviewed the accounting principles and practices adopted by the group and discussed matters related to auditing and financial reporting for the six months ended June 30, 2023[119]

Sling Group Holdings Limited 森 浩 集 團 股 份 有 限 公司 （於開曼群島註冊成立之有限公司） （股份代號：8285） 截至2023年6月30日止六個月 中期業績公佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位乃為相比起聯交所主板上市的其他公司帶有更高投資風險的中小型公司提供 上市的市場。有意投資者應了解投資於此類公司的潛在風險，並應經審慎周詳考慮後方 作出投資決定。 由於在GEM上市的公司一般為中小型公司，在GEM買賣的證券可能會承受較於聯交所 主板買賣的證券為高的市場波動風險，同時亦無法保證在GEM買賣的證券會有高流通量 的市場。 香港交易及結算所有限公司及聯交所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，並明確表示概不會對本公佈的全部或任何部分內容所產生或因依賴該 等內容而引致的任何損失承擔任何責任。 本公佈乃遵照聯交所GEM證券上市規則（「GEM上市規則」）的規定提供有關森浩集團股 份有限公司（「本公司」）的資料。本公司董事（「董事」）願對此共同及個別承擔全部責任。 董事在作出一切合理查詢後確認，就彼等深知及確信，本公佈所載資料在 ...

Financial Performance - Revenue for the first quarter of 2023 was RMB 28,147,000, representing a 33% increase from RMB 21,165,000 in the same period of 2022[3] - Gross profit for the first quarter of 2023 was RMB 15,425,000, up 31% from RMB 11,734,000 year-over-year[3] - The company reported a loss before tax of RMB 815,000, an improvement from a loss of RMB 3,623,000 in the first quarter of 2022[3] - The loss attributable to equity holders of the company was RMB 969,000, compared to a loss of RMB 3,287,000 in the same quarter of the previous year[6] - The total comprehensive loss for the first quarter of 2023 was RMB 1,020,000, significantly lower than RMB 3,747,000 in the first quarter of 2022[3] - The basic and diluted loss per share for the first quarter was RMB 0.17, an improvement from RMB 0.59 in the same period of 2022[6] - The company recorded a net loss of RMB 815,000 for the three months ended March 31, 2023[22] - The company's revenue increased by approximately RMB 6.9 million to RMB 28.1 million for the three months ended March 31, 2023, representing a growth of 32.5% compared to the same period last year[43] - The company reported a loss of approximately RMB 815,000 for the three months ended March 31, 2023, a reduction from a loss of RMB 3.6 million in the same period last year[54] Revenue Sources - Revenue from online retail sales increased to RMB 24,855,000 in Q1 2023, up from RMB 19,645,000 in Q1 2022, representing a growth of 26.4%[26] - Total revenue for the three months ended March 31, 2023, was RMB 28,147,000, compared to RMB 21,165,000 for the same period in 2022, marking a year-on-year increase of 32.9%[26] - The luggage and accessories segment was the main sales driver, with revenue rising from RMB 4.0 million to RMB 10.0 million[43] - Online retail sales increased by 26.5% or RMB 5.2 million to RMB 24.9 million, accounting for 88.3% of total sales[47] Cost and Expenses - The cost of goods sold for the three months ended March 31, 2023, was RMB 12,590,000, compared to RMB 9,294,000 in the same period of 2022, reflecting a 35.5% increase[38] - Selling and distribution costs increased by RMB 1.4 million or 10.9% to RMB 14.2 million, but the increase was lower than the revenue growth[49] - Total employee costs for the three months ended March 31, 2023, were RMB 2.4 million, down from RMB 2.7 million in the same period last year[61] Strategic Focus - The company continues to focus on expanding its market presence and enhancing product offerings in the competitive landscape[11] - The company has closed its last wholesale store in Shanghai to focus resources on online platforms, reflecting a strategic shift towards e-commerce[43] Government Support and Resources - The company received government grants amounting to RMB 577,000 during the quarter[3] - The company expects to have sufficient resources to continue operating for the foreseeable future[22] Shareholder Information - As of March 31, 2023, Yen Sheng BVI holds a total of 291,838,960 shares, representing 52.1141% of the voting rights in the company[71] - Mr. Qiu Tai Liang and Mr. Qiu Tai Nian own approximately 49.3120% and 49.2321% of Yen Sheng BVI, respectively[76] Corporate Governance - The company has maintained compliance with the corporate governance code as per GEM Listing Rules during the reporting period[82] - The audit committee, consisting of three independent non-executive directors, reviewed the financial reporting process and risk management systems[89] - The company confirmed that all directors complied with the code of conduct regarding securities transactions during the reporting period[85] - There were no direct or indirect competitive business interests held by directors or controlling shareholders during the three months ended March 31, 2023[83] Dividend Information - The company did not recommend the payment of an interim dividend for the three months ended March 31, 2023[39] - The company did not declare an interim dividend for the three months ended March 31, 2023, compared to no dividend in 2022[77] Other Information - The company's cash and bank balance as of March 31, 2023, was RMB 3,326,000[22] - The company's non-current assets in China (excluding Hong Kong) increased to RMB 3,754,000 as of March 31, 2023, from RMB 3,206,000 as of December 31, 2022[33] - The company has no major customers contributing over 10% of total revenue for the three months ended March 31, 2023[34] - No share options have been granted, exercised, lapsed, or cancelled under the company's share option scheme since its adoption[78] - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the three months ended March 31, 2023[81] - The company has not disclosed any new product developments or market expansions in the report[90]

Sling Group Holdings Limited 森 浩 集 團 股 份 有 限 公司 （於開曼群島註冊成立之有限公司） （股份代號：8285） 截至2023年3月31日止三個月 第一季度業績公佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位乃為相比起聯交所主板上市的其他公司帶有更高投資風險的中小型公司提供 上市的市場。有意投資者應了解投資於此類公司的潛在風險，並應經審慎周詳考慮後方 作出投資決定。 由於在GEM上市的公司一般為中小型公司，在GEM買賣的證券可能會承受較於聯交所 主板買賣的證券為高的市場波動風險，同時亦無法保證在GEM買賣的證券會有高流通量 的市場。 香港交易及結算所有限公司及聯交所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，並明確表示概不會對本公佈的全部或任何部分內容所產生或因依賴該 等內容而引致的任何損失承擔任何責任。 本公佈乃遵照聯交所GEM證券上市規則（「GEM上市規則」）的規定提供有關森浩集團股 份有限公司（「本公司」）的資料。本公司各董事（「董事」）願對此共同及個別承擔全部責 任。各董事在作出一切合理查詢後確認，就彼等深知及確信，本公佈所 ...

Financial Performance - The company's revenue decreased by 28.9% to RMB 961 million in 2022, with a net loss increasing from RMB 101 million in the previous year to RMB 171 million[9]. - Total revenue decreased by RMB 39.1 million to RMB 96.1 million in 2022, down 28.9% from RMB 135.2 million in 2021[19]. - Online retail sales amounted to RMB 85.5 million, representing 89.0% of total sales, a decrease of 32.1% from RMB 125.9 million in 2021[22]. - Revenue from the ELLE brand decreased to RMB 89.6 million, down 20.1% from RMB 112.1 million in 2021, while Jessie & Jane sales fell 71.8% to RMB 6.6 million[23]. - Gross profit declined by RMB 21.0 million or 28.8% to approximately RMB 51.9 million, with a gross margin of 54.0% in 2022[25]. - Sales and distribution costs decreased by RMB 18.8 million or 26.3% to approximately RMB 52.6 million, attributed to reduced sales activities[26]. - Offline retail sales dropped to RMB 0.7 million, a decline of 19.6% from RMB 0.9 million in 2021, with offline wholesale sales down 75.3%[21]. - The company faced significant pressure on consumer spending due to the impact of COVID-19 restrictions, resulting in fluctuating sales throughout the year[12]. - The company reported a total revenue of RMB 0 for the year ended December 31, 2022, compared to RMB 104 million in 2021[188]. Market Recovery and Strategy - The company experienced a significant sales recovery in the third quarter after the easing of COVID-19 restrictions, particularly in the luggage and travel accessories segment[9]. - The company anticipates benefiting from the reopening of borders in 2023, particularly in the luggage and travel accessories business[10]. - The company is focusing on expanding its product line in the luggage and travel accessories segment to drive further growth[10]. - The company plans to strengthen its live-streaming business and closely monitor sales channel data to respond quickly to changing consumer behavior[10]. - The company is collaborating closely with major online platforms to adjust sales plans and capitalize on consumer rebound opportunities[10]. - The company noted signs of consumer recovery in the handbag business, although the pace may be slower compared to other segments[10]. - The company anticipates a rebound in sales, particularly in luggage and travel products, with strong performance noted in January and February 2023[35]. Corporate Governance - The company emphasizes high standards of corporate governance and compliance with GEM listing rules[51]. - The company promotes a culture of integrity and ethical conduct among its board members and employees[52]. - The company has established strategic planning and operational oversight through its experienced management team[13][48]. - The company’s board includes independent non-executive directors with extensive backgrounds in finance and consulting, enhancing corporate governance[43][47]. - The board consists of seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors[54]. - The roles of the chairman and the CEO are clearly defined and separated to ensure a balance of power and authority[66]. - The audit committee was established on December 15, 2017, with its responsibilities outlined in writing[67]. - The board is committed to ensuring its independence for effective corporate governance and board performance[65]. - The company has established mechanisms to review the effectiveness of its governance practices annually[66]. - The board of directors has reviewed the corporate governance policies and confirmed compliance with the corporate governance code for the year ending December 31, 2022[90]. Environmental, Social, and Governance (ESG) Initiatives - The ESG report focuses on the environmental and social performance of the company's handbag business, particularly through its wholly-owned subsidiary in China[112]. - The company emphasizes the importance of good ESG management for long-term business development, with oversight from the board of directors[116]. - The company has authorized third-party ESG professionals to assist in monitoring ESG-related management and overall performance[116]. - Stakeholder engagement and materiality assessments were conducted to identify significant ESG issues impacting the business and stakeholders[119]. - The company aims to enhance its ESG performance through regular reviews of its business operations and sustainability plans[116]. - The company identified 9 significant ESG issues based on stakeholder surveys and detailed them in the ESG report[127]. - The company aims to reduce energy consumption by 10% by 2024, implementing measures such as using natural light and energy-efficient equipment[134]. - The company is committed to environmental protection and compliance with local regulations, including the Water Pollution Prevention Law of China[129]. - The company has implemented a waste management strategy that includes the collection and proper disposal of hazardous waste like batteries[130]. - The company actively monitors energy consumption and takes corrective actions in case of abnormal usage[134]. Employee and Workplace Policies - Total employee costs for the year ended December 31, 2022, were RMB 105 million, slightly down from RMB 107 million in 2021, with 55 employees hired compared to 60 in 2021[37]. - The company reported zero work-related fatalities and a work-related death rate of 0% for the past three years[145]. - The training participation rate for employees was 2% in 2022, with an average training duration of 2.96 hours[150]. - The company provided various employee benefits, including retirement contributions and insurance, adhering to local laws and regulations[149]. - The company implemented strict supply chain management and quality control procedures to ensure high service quality and compliance with retail laws[151]. - The company has adopted a non-discrimination policy throughout the recruitment process, ensuring equal opportunities for all applicants[147]. - The company has taken multiple preventive measures against COVID-19, including mandatory mask-wearing and temperature checks for all employees[146]. - The company organized recreational activities to promote work-life balance among employees[149]. Financial Management and Compliance - The company does not recommend any dividend payment for the year ended December 31, 2022, consistent with the previous year[183]. - The company's available distributable reserves as of December 31, 2022, were RMB 0, a decrease from RMB 104 million in 2021[188]. - The company has maintained compliance with relevant laws and regulations that significantly impact its business[181]. - The company has not conducted any anti-corruption training during the reporting period but plans to initiate such training in the future[176]. - The company’s financial performance and position are detailed in the consolidated financial statements from pages 70 to 131[182].

Financial Performance - The total revenue for the group in 2019 was RMB 146.1 million, representing a 3.6% increase compared to 2018[14]. - Sales from the newly launched ELLE brand luggage and travel accessories contributed RMB 45.7 million to the revenue[14]. - Handbag sales revenue decreased to RMB 100.4 million due to weakened demand and increased competition from other brands[14]. - Revenue in Q1 and Q2 of 2019 dropped by 25.0% and 1.6% respectively, but increased by approximately 28.7% and 21.3% in Q3 and Q4[14]. - In 2019, total sales increased by RMB 5.0 million to RMB 146.1 million, representing a growth of 3.6% compared to RMB 141.1 million in 2018[24]. - Online retail sales accounted for 73.6% of total revenue, reaching RMB 107.6 million, a 21.1% increase from RMB 88.8 million in 2018[24]. - Offline retail sales decreased by 34.7% to RMB 3.5 million, down from RMB 5.4 million in 2018, representing only 2.4% of total revenue[26]. - Wholesale to offline retailers dropped by 39.4%, with sales decreasing to RMB 13.6 million from RMB 22.5 million in 2018[27]. - Revenue from the ELLE brand increased to RMB 118.1 million, contributing 80.8% of total revenue, up from 67.4% in 2018[28]. - Revenue from the Jessie & Jane brand fell to RMB 28.0 million, a decline of 39.1% from RMB 46.0 million in 2018[28]. - Gross profit decreased by RMB 3.0 million or 3.9% to approximately RMB 73.8 million, with a gross margin of 50.5%, down from 54.4% in 2018[30]. - Total sales related to online business reached RMB 129.0 million, a 14.0% increase from RMB 113.2 million in 2018, accounting for 88.3% of total sales[24]. Operational Efficiency - The company is restructuring its e-commerce team to enhance sales through online channels[10]. - The company has streamlined its procurement planning and after-sales teams to improve operational efficiency[10]. - The company plans to streamline operations and focus on rapidly growing online sales in response to the challenging business environment[41]. - Sales and distribution costs increased by approximately RMB 5.6 million or 8.7% to about RMB 69.8 million, primarily due to marketing expenses and salaries related to direct retail stores[31]. - Administrative and other operating expenses decreased by approximately RMB 1.4 million or 5.1% to about RMB 26.1 million, mainly due to controlled travel expenses and reduced unrealized exchange losses[32]. Strategic Planning - The company acknowledges the need for a strategic repositioning to enhance future competitiveness[10]. - The management is optimistic about controlling the negative impacts of the COVID-19 pandemic in the coming months[11]. - The company is focused on strategic planning and development in the women's handbag industry, leveraging over 17 years of experience in the market[54]. Corporate Governance - The board consists of eight directors, including three executive directors, two non-executive directors, and three independent non-executive directors[73]. - The company has adhered to the corporate governance code as per GEM listing rules during the year ending December 31, 2019[71]. - The management team is responsible for daily operations and management, while the board oversees the company's strategic direction and resource allocation[72]. - The company has established committees under the board to enhance oversight and governance[72]. - The remuneration committee, consisting of three independent non-executive directors, was established to recommend overall remuneration policies for all directors and senior management[90]. - The company has established a nomination committee to recommend candidates for board appointments and monitor the implementation of the diversity policy[96]. - The board is committed to maintaining effective internal control and risk management systems to protect shareholder interests[106]. - The company has not established an internal audit department due to its simple corporate structure but has sought external advice for improvements[108]. Environmental, Social, and Governance (ESG) Initiatives - The company’s ESG report outlines efforts and achievements in corporate social responsibility and sustainable development for the year ending December 31, 2019[131]. - The ESG report focuses on the environmental and social performance of the company’s wholly-owned subsidiary, Seng Ho Trading (Shanghai) Co., Ltd.[132]. - The company values stakeholder communication and has conducted stakeholder engagement and materiality assessments to understand stakeholder needs[136]. - The company encourages feedback from stakeholders regarding its ESG initiatives and policies[134]. - The company reported a total of 12 tons of non-hazardous waste generated in 2019, an increase from 9 tons in 2018[151]. - The amount of hazardous waste generated in 2019 was 2 kg, down from 3 kg in 2018, with a per square meter generation rate of 0.002 kg/m²[151]. - The nitrogen oxide emissions from the company's vehicles increased to 1.04 kg in 2019 from 0.86 kg in 2018[151]. - The company has implemented effective fleet management to reduce emissions, including regular vehicle inspections and maintenance[151]. - The company has provided training on environmental, health, and safety policies to employees and manufacturers to raise awareness of environmental protection[148]. - The company adheres to local environmental regulations, including the Water Pollution Prevention Law and the Air Pollution Prevention Law of the People's Republic of China[148]. - Total energy consumption decreased from 133 MWh in 2018 to 87 MWh in 2019, representing a reduction of approximately 34.6%[153]. - Total greenhouse gas emissions rose significantly from 111 tons CO2 equivalent in 2018 to 701 tons CO2 equivalent in 2019, an increase of about 531.5%[157]. Employee Management - The total employee cost for the year ended December 31, 2019, was RMB 18.0 million, slightly up from RMB 17.6 million in 2018[51]. - The company employed 73 staff members as of December 31, 2019, down from 88 in 2018[51]. - The company aims to enhance employee retention and motivation as a key strategy for success in both online and offline distribution[51]. - The management team regularly reviews compensation policies based on operational performance and market standards[51]. - The company emphasizes employee training and development, offering onboarding training for new hires and product-related training before launching new products, while also providing subsidies for employees pursuing relevant professional qualifications[164]. Customer Relations - The company has implemented a comprehensive complaint handling procedure to address customer inquiries and issues effectively[175]. - Customers can return products purchased through third-party e-commerce platforms within seven days without reason, and products sold through the company's retail points can also be returned under similar conditions[174]. - The company offers a lifetime repair service for ELLE leather products, charging only for material costs[174]. - The company has a strict quality control process and allows product returns within 90 days if quality issues arise[177]. Legal Compliance - The company emphasizes the importance of intellectual property, ensuring compliance with laws and regulations related to trademarks and other rights[178]. - The company adheres to data protection and privacy laws, requiring employees to maintain confidentiality regarding sensitive information[179]. - The company has not been involved in any legal cases related to corruption during the year, adhering strictly to anti-corruption laws[180].