Bossini International : Second Results Presentation

Disclaimer

The information contained in this presentation is intended solely for your personal reference. Such information is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information concerning Bossini International Holdings Limited (the "Company"). The Company makes no representation regarding, and assumes no responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, any information contained herein.

In addition, the information contains projections and forward-looking statements that may reflect the Company's current views with respect to future events and financial performance. These views are based on current assumptions which are subject to various risks and which may change over time. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. It is not the intention to provide, and you may not rely on this presentation as providing, a complete or comprehensive analysis of the Company's financial or trading position or prospects.

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Results Highlights

• Including continuing and discontinued operations

Results Highlights

• The Group's revenue fell by 22%
• Gross profit decreased by 19% but gross margin increased by 2% points
• Loss attributable to owners was HK$155 million (2020: HK$368 million)
• Operated a total number of 882 stores with footprint across 22 countries and regions
• Net cash balance was HK$373 million (2020: HK$116 million)
• Inventory reduced to HK$155 million (2020: HK$210 million)

Operating Environment in 2020/21

• The pandemic of COVID-19 outbreak continued to adversely affect the local retail sectors and suppress many economic activities globally, despite it started to moderate in some countries with the implementation of vaccination programmes in recent months
• In Hong Kong, the third and fourth waves of local COVID-19 infections at alarming levels induced stricter social distancing measures, which sharply reduced shopping activities and foot traffic as a result
• In and out of lockdown ahead of many other countries, the economy in mainland China powered ahead while much of the world was still struggling. However, given the volatility of the pandemic and the increased number of COVID-19 infections towards the end of the period under review, especially in Shenzhen and Guangzhou where most of our retail stores are located, retail sales in mainland China was less than expected