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Public company info - Mulsanne Group Holding Limited , 01817.HK

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Mulsanne Group Holding Limited, 01817.HK - Company Profile
Chairman HUANG Hanji
Share Issued (share) 950,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Apparel
Corporate Profile Business Summary: The Company were principally engaged in the design, marketing and sale of apparel products. Performance for the year: Total revenue for the year ended 31 December 2020 amounted to RMB2,861.5 million, representing a decrease of 23.1%, or RMB859.9 million, as compared to RMB3,721.4 million for the year ended 31 December 2019. Net loss for the year ended 31 December 2020 amounted to RMB299.2 million, representing a decrease of RMB507.4 million, as compared to a net profit of RMB208.2 million for the year ended 31 December 2019. Business Review: In 2020, China’s apparel industry suffered a significant blow as a result of the novel coronavirus (“COVID-19”) pandemic. The Group’s business for the year of 2020, particularly its offline retail channels, was also affected. However, as the Chinese government has put in place a number of policies to support its citizens and businesses, the Group believes that the public’s spending power will gradually pick back up and that its performance in 2021 will recover. Moreover, benefiting from its multi-brand strategy and its strength in online sales channel to well adapt to the accelerated change of customer shopping behavior from offline to online during and after the COVID-19 pandemic, the Group remains confident towards its future as a leading fashion company in China. Prospects: To help develop the fashion apparel industry in China, the Group is committed to implementing the following growth strategies: Proactively expand new and innovative online sales channels, such as TikTok and WeChat Mini Programs, while continuously enhancing the Group’s competitive edge in traditional online channels such as Tmall, Taobao and Vipshop, to better adapt to the accelerated change of customers’ shopping behavior from offline channels to online channels during and after the COVID-19 pandemic and enhance customer loyalty; Close offline stores that are under-performing or incurring losses to optimize the structure of offline sales channels, and position offline stores as the channel to display brand image, enhance customer experience and attract offline customers to online sales channels to further integrate online channels with offline ones. In the second half of 2020, the operation of the Group’s offline channels had been gradually resumed to a level comparable to that in the same period in 2019 as a result of the improved situation of the COVID-19 pandemic in China. Through abovementioned effective consolidation, the Group’s average store sales increased in the second half of 2020 as compared to that in the same period in 2019; Develop new product portfolio and brand metric through multi-brand strategy in order to further integrate online sales channels with offline sales channels and adjust existing brand strategy as well as launch new product lines to address market needs; Attract more followers by introducing continuous innovative marketing measures and big data analysis, and enhance members’ experience through new retail technology and advantages; Further develop its leading supply chain system, improve its ability to serve its customers, and satisfy customers’ needs by providing products and services in high quality; and Improve operational efficiency by optimizing organization structure and business model in order to respond to the market in a faster manner.

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