Link: https://links.sgx.com/1.0.0/corporate-announcements/OYZVSWEWRWVQ2SXW/f7bff3eed681a61623f50f661d9d55f04bac26e8d653389eac3ce37d00127636

Summary:

• Group revenue fell 3.3% to RMB 951.3 million, mainly due to fewer stores; direct sales and rental income stable, but concessionaire and managed rental sales declined.

• Gross profit dropped 4.8% to RMB 220.8 million; gross profit margin eased to 23.2% from 23.6%.

• Profit after tax rose 79.8% to RMB 42.8 million (FY2024: RMB 23.8 million), driven by higher joint ventures/associates income and various one-off gains.

• Final dividend of 1.0 Singapore cent per share proposed, unchanged from previous year.

• Cash and cash equivalents: RMB 83.5 million. Total loans and borrowings: RMB 221.2 million.

• Net asset value per share: 116.8 RMB cents (up from 100.4 RMB cents).

• Key strategic developments: Expansion into large-scale mall retailing (Shanxi mall opening in 1H2026); new Singapore/China subsidiaries incorporated in June 2025.

• Group remains selective in expansion, expects satisfactory performance for FY2026 barring unforeseen events.