PDF《2018》

80 Notes to the Consolidated Financial Statements 综合财务报表附注

82 Baofeng Modern Annual Report

2018 Five-Year Financial Summary 五年财务概要4For the year ended

31 December 截至十二月三十一日止年度

2018 2017

2016 2015

2014 二零一八年 二零一七年 二零一六年 二零一五年 二零一四年 Profitability data (RMB million) 盈利能力数 (人民币百万元) Revenue 收益 164.5 125.5 215.8 171.7 196.8 Gross profit 毛利 39.5 28.5 75.3 42.9 19.1 Loss for the year 年内亏损 (275.3) (435.4) (317.6) (25.7) (31.2) Profitability ratios (%) 盈利能力比率(%) Gross profit margin 毛利率 24.0% 22.7% 34.9% 25.0% 9.7% Net loss margin 净亏损率 (167.4)% (346.9)% (147.2)% (15.0)% (15.8)% Assets and liabilities data (RMB million) 资产及负债数 (人民币百万元) Non-current assets 非流动资产 441.9 705.3 1,417.0 1,597.4 129.5 Current assets 流动资产 128.8 110.4 117.6 870.4 1,243.3 Current liabilities 流动负债 251.9 294.1 224.8 821.7 278.5 Non-current liabilities 非流动负债 4.8 108.2 466.5 517.1 3.1 Shareholders'

equity 股东权益 313.9 413.4 843.4 1,129.0 1,091.2 Asset and working capital data 资产及营运资金 数 Current asset ratios (%) 流动资产比率(%) 22.6% 13.5% 7.7% 35.3% 90.6% Current ratios (time) 流动比率 (倍) 0.5x 0.4x 0.5x 1.1x 4.5x Gearing ratios (%) 负债比率(%) 44.7% 49.0% 44.6% 54.2% 20.3% 宝峰时尚 二零一八年年报 Chairman'

s Statement 主席报告书5Dear Shareholders, On behalf of the board (the Board ) of directors (the Directors ) of Baofeng Modern International Holdings Company Limited ( Baofeng Modern or the Company ), I am pleased to present the financial report of the Company and its subsidiaries (collectively, the Group ) for the year ended

31 December 2018. In 2018, the Group continued to focus on the development and improvement of do-it-yourself ( DIY ) automated vending system, the key machine for the Online-to-Offline ( O2O ) business model, for the sales and distribution of own branded automated customized graphene-based slippers ( Graphene- based Slippers ) and the fourth generation of the DIY automated vending system was developed during the year. Besides, due to (i) delay of placing orders by some overseas customers at the end of 2017, some orders of the Original Equipment Manufacturer ( OEM ) business were delayed to the first half of 2018;

(ii) orders from new customers;

and (iii) increase in orders from existing customers, the sales of OEM business during the year increased. As a result, the Group recorded an increase in revenue of approximately RMB39.0 million or 31.1% to approximately RMB164.5 million in 2018. The gross profit margin of the Group slightly increased to 24.0% in 2018, which was mainly attributable to the effective cost control during second half of the year. In the coming year, the Group would continue to focus on the development and improvement of DIY automated vending system. The Group expected that the fourth generation of the DIY automated vending system will be launched in the second quarter of 2019. Besides, by utilizing the resources of distributors, the Group targets to cooperate with young people'

s favorite brands or brands with numerous stores by placing DIY automated vending system in cooperative stores. In such a way, we can provide customers an interesting on-site customization DIY shopping experience to design their favorite slippers. This cross-over cooperation can reduce the selling cost, penetrate and expand the People'