中国派对文化2024 中期报告

(Incorporated in the Cayman Islands with limited liability)Stock Code:1532 2024INTERIM REPORT Contents Corporate Information2Financial Highlights4Directors’ Business Review andManagement Discussion and Analysis5Condensed Consolidated Statement ofProfit or Loss and Other ComprehensiveIncome15Condensed Consolidated Statement ofFinancial Position17Condensed Consolidated Statement ofChanges in Equity19Condensed Consolidated Statement ofCash Flows21Notes to the Interim Financial Report23Other Information70 Corporate Information BOARD OF DIRECTORSExecutive Directors Mr. Teng Hao(Chairman)Mr. Xu Chengwu(Chief Executive Officer)Mr. Chen Jinbo(appointed on 6 May 2024) Independent Non-executive Directors Mr. Chen Wen HuaMs. Peng XuMr. Zheng Jin Min AUDIT COMMITTEE Mr. Zheng Jin Min(Chairman)Mr. Chen Wen HuaMs. Peng Xu REMUNERATION COMMITTEE Mr. Chen Wen Hua(Chairman)Mr. Xu ChengwuMs. Peng Xu NOMINATION COMMITTEE Ms. Peng Xu(Chairlady)Mr. Teng HaoMr. Chen Wen Hua COMPANY SECRETARYMr. Chong Man Hung Jeffrey REGISTERED OFFICE Windward 3, Regatta Office ParkP.O. Box 1350Grand Cayman KY1-1108Cayman Islands Windward 3, Regatta Office ParkP.O. Box 1350Grand Cayman KY1-1108Cayman Islands HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN THE PRC 3 No. 3 Chunchao RoadYichun Economic & Technological Development ZoneJiangxi Province, China PLACE OF BUSINESS IN HONG KONG 82225–27 Room 225–27, 2/F.Mega Cube, 8 Wang Kwong RoadKowloon Bay, KowloonHong Kong SHARE REGISTRAR AND TRANSFER OFFICEPrincipal Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkP.O. Box 1350Grand Cayman KY1-1108Cayman Islands Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkP.O. Box 1350Grand Cayman KY1-1108Cayman Islands 1617 Hong Kong branch Tricor Investor Services Limited17/FFar East Finance Centre16 Harcourt RoadHong Kong LEGAL ADVISORTC & Co., Solicitors AUDITORGrant Thornton Hong Kong LimitedCertified Public Accountants 1532 STOCK CODE1532 COMPANY WEBSITEwww.partytime.com.cn www.partytime.com.cn ir@partytime.com.cn INVESTORS RELATIONSir@partytime.com.cn Financial Highlights Directors’ Business Review and Management Discussion and Analysis Directors’ Business Review and Management Discussion and Analysis CMS RevenueCMS business 57.7%62.5%CMSCMS119.495.020.4% During the six months ended 30 June 2024, 57.7%(2023: 62.5%) of our total revenue was mainly derivedfrom our CMS business. The revenue derived fromthe CMS business decreased from approximatelyRMB119.4 million to approximately RMB95.0 million,representing a decrease of approximately 20.4%. OBM business OBM OBM71.869.63.0% The revenue derived from our OBM businessdecreased from approximately RMB71.8 millionto approximately RMB69.6 million, representing adecrease of approximately 3.0%. CMS25.321.4%OBM4.58.8% In the first half of 2024, the textile and garmentindustries in China demonstrated resilience inovercoming challenges posed by the adverse impactof global foreign exchange market fluctuations,increasing trade barriers and international shippingdisruptions, sale from our major products whichinclude wigs, and clothing and others from the CMSbusiness decreased by approximately RMB25.3million or 21.4%. Conversely, the Group’s sales ofwigs, and clothing and others from the OBM businessincreased by approximately RMB4.5 million or 8.8%due to our own brand’s competitive price, brandrecognition and product quality. CMSOBM5.826.0% The sales from fabric care, personal hygiene andhome care products from both the CMS and theOBM business decreased by approximately RMB5.8million or 26.0%, such decrease was mainly dueto underperformance on the domestic e-commerceplatforms during the first half of the year. Leasing business Our Party Culture Industrial Park, E-commerceOperation Centre and Service and Experience Centre,together with our Feifeng Road Premises in Yiwu, PRChave been sub-leased to companies in the relevantindustries with the aim to integrate the design anddevelopment of cultural products, internet celebrity,creative design, research and development and supplychain of the whole industrial chain. The Group hassub-leased part of its Yiwu Production Plant and theYichun Production Plant to local enterprises with theview to better utilize the assets of the Group. 3,045,000971,000 Rental income from leasing of these premises(including the rental income from leasing of plantand machineries) of approximately RMB3,045,000(30 June 2023: RMB971,000) have been recognizedduring the year and included in “other income” inthe consolidated statement of profit or loss and othercomprehensive income. Gross profit marginOur gross profit margin slightly increased from 23.7%23.9% approximately 23.7% to approximately 23.9%. Theincrease in the gross profit margin was mainly dueto the control of manufacturing costs and upgrade ofproduct mix with higher profit margin. Cost of salesOur cost of sales mainly comprises raw material cost, direct labor cost