Financial Performance - The Group's total revenue decreased by 36.0% year-on-year to RMB 95,800,000 in the first half of fiscal year 2025/26, compared to RMB 149,600,000 in 2024/25[16]. - Consolidated gross profit fell by 30.0% to RMB 55,600,000, with a gross profit margin of 58.0%, an increase of 4.9 percentage points from the previous year[16][19]. - Consolidated loss attributable to owners of the Company was RMB 31,400,000, an improvement from a loss of RMB 38,000,000 in the same period last year[16][18]. - The Group's total retail revenue decreased by 36.0% to RMB 95,800,000 compared to RMB 149,600,000 in the previous year, with same store sales down by 13.2%[42]. - For the six months ended August 31, 2025, the Group reported revenue of RMB 95,808,000, a decrease of 36% compared to RMB 149,591,000 for the same period in 2024[83]. - The gross profit for the same period was RMB 55,585,000, down from RMB 79,415,000, reflecting a decline in gross margin[83]. - The total comprehensive loss for the period was RMB 38,633,000, compared to RMB 45,363,000 in the previous year, indicating a reduction in overall losses[85]. - The company reported a loss for the period of RMB 31,356,000 for the six months ended August 31, 2025[93]. - For the six months ended August 31, 2025, the loss attributable to owners of the Company was RMB 31,356,000, compared to RMB 38,038,000 for the same period in 2024, representing a decrease of approximately 17.6%[162]. - Basic loss per share for the six months ended August 31, 2025, was RMB 4.44, an improvement from RMB 5.39 in 2024, indicating a reduction in loss per share by approximately 17.6%[162]. Expenses and Cost Management - Selling and distribution expenses decreased by 39.5% year-on-year to RMB 50,500,000, with the ratio to total revenue dropping by 3.0 percentage points to 52.7%[20]. - General and administrative expenses decreased by 17.6% to RMB 34,500,000, but the ratio to total revenue increased by 8.0 percentage points to 36.0%[21]. - Employee benefit expenses for the six months ended August 31, 2025, amounted to RMB 40,200,000, down from RMB 59,300,000 in 2024/25[81]. - Total costs of sales decreased to RMB 40,223,000 for the six months ended August 31, 2025, down from RMB 70,176,000 in 2024, reflecting a significant reduction of approximately 42.7%[162]. - Depreciation of property, plant, and equipment was RMB 2,028,000 for the six months ended August 31, 2025, compared to RMB 4,408,000 in 2024, a reduction of approximately 54.0%[162]. - Interest income on bank deposits decreased to RMB 3,948,000 for the six months ended August 31, 2025, from RMB 5,848,000 in 2024, a decline of approximately 32.4%[153]. Inventory and Cash Management - Inventory balance decreased by approximately 34.4% to RMB 78,100,000 from RMB 119,000,000[32]. - The proportion of inventory aged less than one year increased by 16.0 percentage points to 58.2%[36]. - Cash and bank balances amounted to RMB 309,000,000, with a quick ratio of 4.8 times[39]. - The Group focused on effective inventory management to maintain healthy inventory levels and enhance cash flow[51]. - The company reported a write-back of impairment losses on inventories amounting to RMB 17,891,000 for the six months ended August 31, 2025, compared to a loss of RMB 3,323,000 in 2024, indicating a significant improvement in inventory management[162]. - Cash and cash equivalents decreased to RMB 287,393,000 as of August 31, 2025, down from RMB 307,002,000 a year earlier[98]. Market Conditions and Strategic Initiatives - The footwear retail consumption in Mainland China remained sluggish, impacting the Group's sales performance[19]. - The Group is consolidating its sales network and closing underperforming outlets to reduce fixed selling and distribution expenses[20]. - The sales mix improved due to a higher proportion of new-season products, contributing to the increase in gross profit margin[19]. - The Group implemented various marketing initiatives, including rebranding and enhanced product quality control, to adapt to shifting consumer patterns[42]. - The Group launched two large flagship stores and one compact flagship store in Southern China to enhance customer shopping experience[52]. - The Group's strategy includes a brand revamp and reform of retail operations to better engage target customers[52]. - The Group is investing in online resources and collaborating with major e-commerce platforms to increase online traffic and meet customer needs[58]. - The Group is utilizing mini program stores and private traffic systems to lower customer acquisition costs and reduce overall e-commerce operating expenses[61]. - The Group maintains a cautiously optimistic outlook on the medium-to-long-term prospects of China's retail market, despite current consumer confidence challenges[65]. Financial Position and Liabilities - Total assets as of August 31, 2025, are RMB 526,154,000, a decrease of 8.4% from RMB 574,245,000 as of February 28, 2025[90]. - Total equity decreased to RMB 444,774,000 from RMB 483,407,000, reflecting a decline of 8.0%[90]. - Current liabilities decreased to RMB 67,257,000 from RMB 77,051,000, a reduction of 12.7%[90]. - The Group's financial liabilities as of 31 August 2025 included trade and other payables of RMB 52,718,000 and lease liabilities of RMB 6,714,000, totaling RMB 59,432,000[120]. - The total liabilities per consolidated interim balance sheet as of 31 August 2025 were RMB 81,380,000, with segment liabilities of RMB 67,335,000[134]. Shareholder Information - The number of issued and fully paid ordinary shares remained at 705,895,060 with a share capital of RMB 59,979,000[180]. - Mr. Li Wing Yeung, Peter holds a total of 60,920,200 shares, representing approximately 8.63% of the issued share capital of the Company[190]. - Mr. Leung Wai Ki, George has an interest in 1,700,000 shares, accounting for about 0.24% of the issued share capital[190]. - As of August 31, 2025, no other Directors or chief executives had any interests or short positions in the Shares or debentures of the Company[194]. - The Company had no arrangements for Directors to purchase shares or debentures during the six months ended August 31, 2025[195].
莱尔斯丹(00738) - 2026 - 中期财报