Financial Performance - The total operating revenue for the period was RMB 2,218.2 million, an increase of 11.3% compared to RMB 1,993.4 million in the same period last year[6]. - Same-store sales growth was 4.9% during the period[7]. - Total sales revenue (including VAT) reached RMB 5,365.5 million, reflecting a year-on-year growth of 7.3%[7]. - Operating profit for the period was RMB 264.8 million, a significant increase of RMB 262.1 million from RMB 2.7 million in the same period last year[7]. - For the six months ended June 30, 2023, the profit for the period was RMB 66,722,000, a significant improvement compared to a loss of RMB 181,105,000 in the same period of 2022[32]. - Total comprehensive expense for the period was RMB 16,256,000, compared to RMB 289,740,000 in the previous year, indicating a reduction in overall losses[32]. - The Group's profit before tax for the six months ended June 30, 2023, was RMB 79,058, compared to a loss of RMB 85,198 in 2022[109]. - Profit for the period attributable to owners of the Company was RMB 63,093 for the six months ended June 30, 2023, compared to a loss of RMB 181,794 in the same period of 2022[185]. - Basic earnings per share attributable to ordinary equity holders of the Company for the six months ended June 30, 2023, was RMB 0.024, a recovery from a loss of RMB 0.069 in the same period of 2022[185]. Assets and Liabilities - Non-current assets amounted to RMB 8,260.6 million as of June 30, 2023, down from RMB 8,539.7 million as of December 31, 2022[18]. - Current assets totaled RMB 2,947.2 million as of June 30, 2023, compared to RMB 2,748.0 million as of December 31, 2022[19]. - Trade payables increased to RMB 577.8 million from RMB 480.4 million[19]. - Net assets were recorded at RMB 3,301.7 million as of June 30, 2023, slightly down from RMB 3,318.3 million at the end of 2022[19]. - The company reported a decrease in inventories to RMB 374.8 million from RMB 500.8 million[18]. - Interest-bearing bank loans increased to RMB 295.4 million from RMB 281.0 million[19]. - As of June 30, 2023, total equity stood at RMB 3,301,705,000, compared to RMB 3,604,760,000 as of June 30, 2022[39]. - The total assets as of June 30, 2023, were RMB 3,229,499,000, down from RMB 3,532,575,000 in the previous year[39]. - The Group's total assets were valued at RMB 2,246,051, compared to RMB 2,478,736 as of January 1, 2023[189]. Cash Flow and Financing - Cash generated from operations increased to RMB 624,300 for the six months ended June 30, 2023, compared to RMB 260,730 in 2022, representing a growth of approximately 139%[45]. - Net cash flows from operating activities reached RMB 582,504, up from RMB 213,899 in the previous year, indicating a substantial increase of about 172%[45]. - The net cash flows used in financing activities amounted to RMB (488,751) for the six months ended June 30, 2023, compared to RMB 55,346 generated in the same period of 2022[46]. - The company incurred finance costs of RMB 249,304 for the six months ended June 30, 2023, an increase from RMB 217,673 in 2022, indicating rising borrowing costs[44]. - Finance income for the six months ended June 30, 2023, totaled RMB 27,444, down from RMB 31,026 in 2022, reflecting a decrease of 11.0%[129]. Revenue Breakdown - For the six months ended June 30, 2023, total revenue reached RMB 1,961,221,000, an increase from RMB 1,768,859,000 in the same period of 2022, representing a growth of approximately 10.9%[91]. - Revenue from direct sales amounted to RMB 1,164,266,000, slightly up from RMB 1,155,058,000 in 2022, indicating a growth of about 0.97%[91]. - Commissions from concessionaire sales increased to RMB 398,340,000, compared to RMB 386,754,000 in the previous year, reflecting a growth of approximately 3.9%[91]. - Gross rental income surged to RMB 341,058,000, up from RMB 188,839,000, marking a significant increase of around 80.5%[91]. - Gross revenue from concessionaire sales for the six months ended June 30, 2023, was RMB 3,003,808, an increase of 4.6% from RMB 2,872,126 in 2022[106]. Expenses and Costs - Total operating expenses for the six months ended June 30, 2023, were RMB 1,953,406, a decrease from RMB 1,990,702 in the same period of 2022[185]. - Total staff costs for the six months ended June 30, 2023, were RMB 250,802, a decrease from RMB 280,851 in 2022, representing a reduction of 10.70%[98]. - Rental expenses for the six months ended June 30, 2023, amounted to RMB 43,203, compared to RMB 12,828 in 2022, showing a significant increase of 236.73%[98]. - The impairment of trade receivables for the six months ended June 30, 2023, was RMB 8,232, compared to RMB 3,466 in 2022, reflecting an increase of 137.66%[98]. Compliance and Reporting - The Group's financial information for the six months ended June 30, 2023, was prepared in accordance with International Accounting Standard 34, indicating compliance with international financial reporting standards[49]. - The amendments to IAS 12 regarding deferred tax had no material impact on the Group's performance and financial positions for the current and prior periods[51]. - The interim financial information does not include all disclosures required in the annual consolidated financial statements, emphasizing the need for comprehensive annual reporting[49]. Market and Strategic Focus - The company is focusing on expanding its market presence and enhancing its product offerings to drive future growth[94]. - The Group's principal activities include the operation and management of department stores primarily in the PRC and the provision of credit services in Malaysia[1].
百盛集团(03368) - 2023 - 中期财报