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Chairman's Statement
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Board of Directors

Chairman's Statement

Dear Shareholders,

I am pleased to present the Company’s Annual Report for 2018.


On behalf of the Board of Directors of Zhongmin Baihui Retail Group Ltd, it is my pleasure to present to you the Company’s Annual Report for the financial year ended 2018.

The Chinese economy continued to grow in 2018. According to the National Bureau of Statistics of China, the Chinese GDP and the retail sales of consumer goods grew by 6.6% and 9.0% respectively in 2018. The strength of the Chinese economy allowed us to remain profitable in 2018 despite the generally challenging environment. To reward our shareholders, we are proposing a final dividend of SGD 1.5 cents per share or a total of SGD 2.5 cents per share for the year.

The Group is embarking its efforts to grow on its traditional store strategy as well as on the outlet management business. For our traditional stores, we have plans to grow our gross floor area by over 30% over the next 12 months. Two stores to be operational in Zhangzhou City, Fujian Province are the 1,400 sqm store in Xiangcheng District and the larger 15,200 sqm store in the Zhangzhou China Merchants Economic and Technological Development Zone. In Quanzhou City, we are adding a 23,200 sqm store in Yongchun County, a 6,400 sqm store in Anxi County and a 4,000 sqm store in Nan’an County. In Haicang County, Xiamen City, we expect a 1,400 sqm new store to be added soon.

In December 2018, together with our joint venture partner, CQ Sasseur, we opened our maiden outlet, Changsha Sasseur (ZMBH) Outlets in Changsha, Hunan Province. We are pleased with the performance of the Changsha outlet. Continuing our outlet strategy, we will be introducing a new outlet in Wuxi City, Jiangsu Province and another outlet in Shanghai. The Shanghai outlet will be co-managed with CQ Sasseur.

We have confidence that the Group will continue to deliver satisfactory results this year. I hope our shareholders will continue to give us their support. Thank you.

Lee Swee Keng
Executive Chairman

27 March 2019


我很高兴在此呈现公司2018 年度的年报。

我谨代表中闽百汇零售集团有限公司董事会,高兴的在此呈现 公司2018 年度年报。

2018 年中国经济持续增长。中国国家统计局发布,2018 年的 国内生产总值增长6.6%,零售销售年度增长9.0%。尽管经济环 境充满挑战,但得益于中国经济的强劲发展,我们在2018 年 度仍能保持盈利。为奖励我们的股东,我们决定发期末股息每 股新币1.5 分,2018 年度总红利新币2.5 分。

集团正努力发展其传统门店业务,同时也拓展奥特莱斯管理业 务。针对传统门店,我们计划于2019 年内增加超过30% 的总 经营面积。在福建省漳州市将有两家门店开业,一家位于芗城 区,经营面积1400 平方米,另一家位于漳州招商局经济技术 开发区,经营面积15200 平方米。此外,在泉州市我们将在永 春县开一家23200 平方米的门店,在南安的一家面积4000 平 方米店,以及安溪县一家6400 平方米的门店。2019 年我们也 将在厦门市海沧区迎来一家1400 平方米新店的开业。

在2018 年12 月,我们在湖南长沙市和重庆砂之船开了首家奥 特莱斯——长沙砂之船(中闽百汇)奥特莱斯。开业后,我们 对长沙项目成绩觉得很满意。我们将继续拓奥莱店业务,会在 江苏省无锡市开设一家新的奥莱。我们也会和砂之船在上海合 作开一家奥莱。

我们相信集团在2019 年将继续呈现较好业绩。我也希望各位 股东能继续支持我们。谢谢!


李瑞庆
执行主席

2019 年3 月27 日