Financial Performance - In the first half of 2022, the group achieved outlet sales of approximately RMB 4.42 billion, a decrease of about 15% compared to the same period last year[14]. - The group's operating revenue for the first half of 2022 was approximately RMB 550,839,000, a decrease of about 19% year-on-year, with a net loss attributable to the parent company of approximately RMB 116,116,000[16]. - The total retail sales of consumer goods in China for the first half of 2022 amounted to RMB 21,043.2 billion, a decrease of 0.7% year-on-year[20]. - The company reported a total of 738,130,482 Class A convertible preferred shares issued, with a capital increase of approximately RMB 5,875,000 and a share premium of approximately RMB 1,556,817,000[185]. - The company reported a total of 905,951,470 Class B convertible preferred shares, resulting in a capital increase of approximately RMB 7,575,000 and a share premium of approximately RMB 2,098,232,000[186]. Visitor and Foot Traffic Trends - The total foot traffic for shopping centers nationwide was approximately 12.89 billion visits, a decline of about 21% year-on-year and a 39% decrease compared to 2019[13]. - The group recorded approximately 20.09 million visitors, a decrease of about 16% year-on-year, primarily due to the impact of COVID-19 restrictions[14]. - The average daily foot traffic in shopping centers decreased by approximately 12.6% compared to the same period in 2021, and by about 34% compared to the same period in 2019[21]. Consumer Confidence and Market Conditions - The consumer confidence index dropped significantly from 121.5 in January to 86.8 in May 2022, indicating a cautious consumer sentiment[20]. - The overall retail sales of consumer goods in China amounted to RMB 21.04 trillion, a decrease of 0.7% compared to the previous year[13]. - The group aims to boost consumer confidence through precise marketing and lean operations, enhancing customer satisfaction[14]. Operational Strategies and Innovations - The group has implemented measures to enhance COVID-19 management and improve operational safety while focusing on online and offline integration[14]. - The company is actively innovating and upgrading its membership system to create value for merchants and customers[14]. - The group plans to enhance its member system with a focus on rights, services, and systems to improve online and offline integration and marketing effectiveness[18]. - The group will adopt a "one store, one strategy" approach to improve operational efficiency and enhance customer experience[18]. Membership and Sales Performance - The total number of members increased by approximately 13% compared to the same period last year, with member sales accounting for an increase of about 6 percentage points[15]. - Member sales accounted for approximately 43% of total sales, an increase of about 6 percentage points compared to the same period last year[28]. - The company launched a significant promotional event in May, celebrating its 10th anniversary, which generated nearly RMB 1 million in sales and attracted approximately 270,000 viewers[24]. Financial Position and Liquidity - As of June 30, 2022, the company's cash and cash equivalents totaled approximately RMB 1,049,784,000, an increase from RMB 804,308,000 as of December 31, 2021[34]. - The current ratio as of June 30, 2022, was 1.38, up from 1.26 as of December 31, 2021, indicating improved liquidity[35]. - The net capital debt ratio was 223% as of June 30, 2022, compared to 208% at the end of 2021, reflecting an increase in net debt[35]. Asset Management and Investments - The group has launched a new asset-backed plan in collaboration with China Life Investment Holdings, marking a significant milestone in the CMBS market[16]. - The company issued an asset-backed securities plan totaling RMB 3,579,000,000 on December 9, 2019, to securitize properties in Beijing and Kunshan[39]. - The group issued asset-backed securities with a total principal amount not exceeding RMB 1,350,000,000, and as of June 30, 2022, RMB 670,000,000 has been issued at a fixed interest rate of 4.85% for a term of 3 years[41]. Employee and Workforce Changes - The company had 1,092 employees as of June 30, 2022, down from 1,153 employees a year earlier, reflecting a reduction in workforce[65]. Future Outlook - Future outlook suggests that the outlet market is expected to recover further in the second half of 2022, with new openings in Qingdao and Xiamen enhancing the national strategic layout[66]. - The company aims to maintain competitive advantages in pricing, experience, and brand, focusing on providing superior consumer experiences in the outlet industry[67]. Corporate Governance and Compliance - The company has adhered to the corporate governance code as per the listing rules, with minor deviations noted due to COVID-19 restrictions[61]. - The board consists of nine directors, including two executive directors, four non-executive directors, and three independent non-executive directors[59].
首创钜大(01329) - 2022 - 中期财报