Financial Performance - In the first half of fiscal year 2022/23, total revenue decreased by 24.5% year-on-year to RMB211,100,000, compared to RMB279,500,000 in 2021/22[21] - Consolidated gross profit decreased by 18.5% year-on-year to RMB137,000,000, down from RMB168,000,000 in the previous year[21] - The consolidated loss attributable to owners of the Company was RMB23,400,000, compared to a loss of RMB2,200,000 in 2021/22[21] - Basic loss per share was RMB(3.31) cents, compared to RMB(0.32) cents in the previous year[24] - Total revenue decreased by 24.5% year-on-year to RMB 211,100,000 (2021/22: RMB 279,500,000) due to the impact of COVID-19 lockdown measures[30] - Consolidated gross profit decreased by 18.5% to RMB 137,000,000 (2021/22: RMB 168,000,000), with a gross profit margin increase of 4.8 percentage points to 64.9%[30] - The consolidated loss attributable to owners of the Company was RMB 23,400,000 (2021/22: loss of RMB 2,200,000), with a basic loss per share of RMB 3.31 cents (2021/22: loss of RMB 0.32 cent)[34] - Operating loss increased to RMB 25,228,000 from RMB 1,192,000, indicating a significant deterioration in operational performance[102] - Loss for the period attributable to owners of the Company was RMB 23,357,000, compared to RMB 2,230,000 in the previous year, marking an increase of over 950%[102] - Total comprehensive loss for the period was RMB 10,921,000, compared to RMB 2,730,000 in 2021, representing a substantial increase[109] Expenses and Cost Management - Selling and distribution expenses decreased by 6.3% year-on-year to RMB 115,800,000 (2021/22: RMB 123,600,000), but the ratio to total revenue increased by 10.7 percentage points to 54.9%[30] - General and administrative expenses decreased by 11.9% to RMB 41,900,000 (2021/22: RMB 47,600,000), with the ratio to total revenue increasing by 2.9 percentage points to 19.9%[34] - Total employee benefit expenses for the six months ended August 31, 2022, amounted to RMB 67,900,000, a decrease from RMB 72,300,000 in the previous year[95] - Selling and distribution expenses were RMB 115,849,000, slightly reduced from RMB 123,637,000, indicating cost management efforts[102] Inventory and Cash Management - As of 31 August 2022, the Group's inventory balance was RMB 191,900,000, an increase of 7.6% compared to RMB 178,400,000 from the previous year[36] - Inventory turnover of finished goods increased by 101 days to 389 days (31 August 2021: 288 days) due to significant revenue decline[38] - Cash and bank balance amounted to RMB 421,700,000 as of 31 August 2022 (28 February 2022: RMB 442,600,000), with a quick ratio of 3.4 times[42] - The Group had no outstanding bank loan as of the end of the financial period, having repaid a bank loan of RMB 20,200,000 during the period[42] - Cash and cash equivalents at 31 August 2022 stood at RMB 401,153,000, down from RMB 434,156,000 in 2021, representing a decrease of approximately 7.6%[143] - The total net decrease in cash and cash equivalents was RMB (25,092,000), a substantial improvement from RMB (307,998,000) in the previous year, indicating better cash management[143] Market and Operational Impact - Operations were significantly impacted by strict COVID-19 precautionary measures, leading to temporary store closures in some areas[28] - The Group's retail revenue decreased by 24.5% year-on-year to RMB 211,100,000, while same-store sales declined by 26.5%[50] - The total number of physical stores in Mainland China and Hong Kong was 381, representing a net reduction of 8 stores compared to the previous year[51] - The Group's sales in Mainland China dropped by 23.6% year-on-year to RMB 210,400,000, with same-store sales also declining by 26.5%[63] - The Group organized promotional events featuring celebrities to boost sales as lockdown measures were gradually lifted[63] Strategic Initiatives - The Group aims to enhance its market presence through new product lines and expansion strategies[20] - The Group plans to launch the "Omni-Channel Middle Platform Project" to enhance the integration of online and offline channels[80] - The Group will continue to focus on the development of the e-commerce market, particularly on high-traffic platforms like T-Mall, Douyin, Weibo, and Xiaohongshu, to enhance its social e-commerce business[84] - The Group aims to enhance brand value and provide a unique consumption experience amid the evolving digital landscape[80] - The Group is preparing for market recovery with the resumption of normal traveler clearance between China, Hong Kong, and Macau[86] Financial Position - Total assets decreased to RMB 882,883,000 from RMB 888,086,000, indicating a slight decline in asset base[112] - Total equity as of 31 August 2022 was RMB 694,197,000, down from RMB 705,339,000, reflecting a decrease in shareholder equity[115] - The company had retained earnings of RMB 526,633,000, reflecting the accumulated profits over time[118] - The company maintained a liquidity risk management strategy by ensuring sufficient cash flow generated from operations and maintaining available credit facilities[165] Employee and Workforce Changes - The Group's workforce decreased to 1,296 employees as of August 31, 2022, from 1,342 employees as of February 28, 2022[100] - The number of self-owned stores decreased by 6, while franchised stores decreased by 2 during the review period[51]
莱尔斯丹(00738) - 2023 - 中期财报