2022-09-05-港交所-BOSSINI_INT_L_2022中期报告_75页_3mb

Report Analysis Summary

Key Points

• Financial Highlights:

  • Revenue for the 2022 half-year fell by 22% compared to 2021, driven by the ongoing global pandemic.
  • Gross profit declined by 30% due to reduced sales and high operating costs, with gross margin decreasing from 50% to 45%.
  • The Group recorded a net profit of HK$22 million (2021: loss of HK$68 million), indicating a significant improvement despite the challenging market conditions.

• Main Revenue Decline Driven:

  • Hong Kong and Macau: Same-store sales dropped by 9% due to persistent lockdowns and shifting consumer behavior.
  • Mainland China: Sales and profit fell more sharply, partly due to widespread outbreaks and the scaling back of retail activities.

• Franchise Business:

  • International expansion continued through franchise partnerships, supporting 539 outlets mainly across Southeast Asia and the Middle East.

• Ongoing Measures:

  • To sustain operations, the Group focused on cost management, exploring e-commerce opportunities, and enhancing digital marketing.

• Future Outlook:

  • Group CEO confirmed a cautious view on the second half, noting mainland market recovery challenges.
  • Emphasis remains on developing the "bossini.X" brand, digital sales transformation, and optimizing store networks for enhanced competitiveness.