Corporate Information

Corporate Profile
Chairman's Statement
CEO Statement
Board of Directors

Chairman's Statement

Dear Shareholders,

On behalf of the Board of Directors of Zhongmin Baihui Retail Group Ltd, I am pleased to present the Company’s Annual Report for the financial year from 1 July 2022 to 30 June 2023 (“FY2023”).

Over the past three years, the Chinese economy faced challenges from COVID-19 pandemic disruptions. The Chinese GDP growth fell to 3.0% in 2022, the lowest in many years. Retail sales of consumer goods other than automobiles fell by 2.6% in 2022. COVID-19 restrictions started easing in December 2022 and most restrictions are now lifted. The Chinese economy has begun its recovery process as can be seen by the 7.5% growth rate in retail sales of consumer goods other than automobiles in the first seven months of 2023 as well as the GDP growth rate of 5.5% in the first six months of 2023. Nevertheless, the path to a full recovery is likely to take longer.

The Group has taken measures to improve our profitability over the past few years. We closed three underperforming stores in earlier FY2023 and refocused our resources on the other stores. As a result of these store closures and other efforts, there is an improvement in our performance of overall results versus the preceding financial period. We will continue our efforts to improve profitability.

We have recently conducted first-year anniversary celebrations on 9 September 2023 for our 400,000 sqm Wuxi Yueshang Outlets, which is one of the largest outlet malls in the Yangtze delta region. Since its grand opening, which was prior to the lifting of COVID-19 restrictions, occupancy and sales in Wuxi Yueshang Outlets have been improving over time. Our outlet malls’ comprehensive offering of shopping, dining, leisure, entertainment, sports, and cultural activities aims to create attractive retail experiences for our shoppers.

A new Zhongmin Baihui supermarket store in Haicang District, Xiamen City is expected to be operational by the end of 2023 or beginning 2024. This supermarket will be in the newly renovated 30,900 sqm commercial complex built by a 30%-owned associated company of the Group, Citi-Base Commerce Logistics (Xiamen) Pte., Ltd.. The commercial complex, together with 668 units of apartment units will be ready for rental around the time.

Given the challenging economic environment, we will be selective in our expansion plan. The Group will continue to explore further business opportunities.

Given our improved financial performance in fiscal 2023 over the previous fiscal period, I am pleased to announce a dividend payout of Singapore Dollar one cent per share to reward our shareholders. We hope that our financial performance will continue to improve.

Lee Swee Keng
Executive Chairman

7 November 2023

我谨此代表董事局提供截至 2023 年 6 月 30 日 12 个月的财务年度报告 (“2023 财年 ) 中闽百汇零售集团有限公司财务年度报告。

过去三年,中国经济面临新冠肺炎疫情的挑战。在这期间,中国 2022 年 GDP 增长率降至 3.0%,为多年来最低。在 2022 年, 除汽车外的其他消费品零售额下降了 2.6%。新冠肺炎限制措施于 2022 年 12 月开始放松,大多数限制措施现已解除。从 2023 年前 7 个月汽车以外的消费品零售额 7.5% 的增长率和 2023 年上半年 5.5% 的 GDP 增长率可以看出,中国经济已经开 始复苏。然而,实现全面复苏的道路可能需要时间。

过去几年,集团已采取措施提高公司盈利。因此上 2023 财年早些时候关闭了三家表现不佳的门店,可让资源重新集中在其 他门店。这些门措施和其他措施使我们的整体业绩与上一财年相比有所改善。我们将继续努力提高盈利能力。

我们最近于 2023 年 9 月 9 日为无锡悦尚奥莱举办了一周年庆典。无锡悦尚奥莱拥有 40 万平方米,是长三角最大之一的奥莱。 自新冠肺炎限制解除前盛大开业以来,无锡悦尚奥莱的出租率和销售额一直在改善。我们的奥莱提供消费者全面的购物、 餐饮、休闲、娱乐、体育和文化活动选择,旨在为我们的购物者创造有吸引力的零售体验。

厦门市海沧区的一家中闽百汇超市预计将于 2023 年底或 2024 年初开业。这家超市将位于由集团 30% 的子公司港基物流(厦 门)有限公司新建 30,900 平方米商业体内。该商业体以及 668 套公寓单元也会在同时间段开始出租。


鉴于我们在 2023 财年的财务表现比上一财年有所改善,我很高兴宣布每股派息新加坡元 1 分,以奖励我们的股东。我们希望我们的财务业绩将继续改善。


2023 年 11 月 7 日