[中报]鲁 泰Ｂ(200726):2023年半年度报告（英文版）
原标题:鲁 泰Ｂ:2023年半年度报告（英文版） INTERIMREPORT2023 August2023 PartIImportantNotes,TableofContentsandDefinitions TheBoardofDirectors(orthe“Board”),theSupervisoryCommitteeaswellasthedirectors,supervisorsandseniormanagementofLuThaiTextileCo.,Ltd.(hereinafterreferredtoasthe“Company”)herebyguaranteethefactuality,accuracyandcompletenessofthecontentsofthis Report and its summary, and shall be jointly and severally liable for anymisrepresentations,misleadingstatementsormaterialomissionstherein.LiuZibin,theCompany’slegalrepresentative,andZhangKeming,headofaccountingaffairsandheadoftheaccountingdepartment(equivalenttoaccountingmanager)herebyguaranteethattheFinancialStatementscarriedinthisReportarefactual,accurateandcomplete.AlltheCompany’sdirectorshaveattendedtheBoardmeetingforthereviewofthisReportanditssummary. TheCompanyissubjecttothedisclosurerequirementsforlistedcompaniesengagingintextileandapparelasstatedinGuidelineNo.3oftheShenzhenStockExchangeforSelf-regulationofListedCompanies—Industry-specificInformationDisclosure.Theinternationalpoliticalandeconomiclandscapeshavebecomecomplicatedsince2023,andglobalinflationarypressurepersists.ThishasplacedChina’seconomyinanincreasinglycomplex and severe external environment. With the full resumption of socioeconomicdevelopment,theStateCouncilandgovernmentsanddepartmentsatalllevelslauncharangeofpolicies to boostconsumption.Thishascontributedto agradualrecoveryinmarketdemandandconsistentlygrowingproductionandsupply,presentinganupturninthenationaleconomicrecovery.AccordingtothedatareleasedbytheNationalBureauofStatistics,theretailsalesofconsumergoodsbetweenJanuaryandJune2023totaledRMB22.7588trillion,up8.2%yearonyear.Thisindicatesthat,astheconsumermarketisrecoveringsteadily,itssupportingroleforthetextileandapparelindustryissignificantlyenhanced.Additionally,datafromChinaCustomsshowsthat,inthefirsthalfof2023,China’sexportoftextilesandapparel totaled USD142.68 billion, a year-on-year decrease of 8.8%. This is caused byinsufficientdemandinoverseasmarketsasaresultoftheweakglobaleconomicrecovery.Fordetails,pleaserefertoPartIIIManagementDiscussionandAnalysis.TheCompanyhasnointerimdividendplan,eitherintheformofcashorstock.ThisReportanditssummaryhavebeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionsshallprevail. TableofContents PartIImportantNotes,TableofContentsandDefinitions...........................................................2 PartIICorporateInformationandKeyFinancialInformation...................................................6 PartIIIManagementDiscussionandAnalysis................................................................................9 PartIVCorporateGovernance.......................................................................................................28 PartVEnvironmentalandSocialResponsibility..........................................................................30 PartVISignificantEvents...............................................................................................................34 PartVIIShareChangesandShareholderInformation................................................................41 PartVIIIPreferredShares..............................................................................................................51 PartIXBonds...................................................................................................................................52 PartXFinancialStatements............................................................................................................56 DocumentsAvailableforReference 1.ThefinancialstatementssignedandstampedbytheCompany’slegalrepresentativeandheadofaccountingaffairsandheadoftheaccountingdepartment;and 2.TheoriginalsofalltheCompany’sannouncementsanddocumentsdisclosedtothepublicduringtheReportingPeriodonSecuritiesTimes,ShanghaiSecuritiesNews,ChinaSecuritiesJournalandTaKungPao.Definitions
ICorporateInformation
1.ContactInformationoftheCompany Indicatebytickmarkwhetheranychangeoccurredtotheregisteredaddress,officeaddressandtheirzipcodes,websiteaddress, emailaddressandothercontactinformationoftheCompanyintheReportingPeriod.□Applicable?Notapplicable NochangeoccurredtothesaidinformationintheReportingPeriod,whichcanbefoundinthe2022AnnualReport.2.MediaforInformationDisclosureandPlacewherethisReportisLodgedIndicatebytickmarkwhetheranychangeoccurredtotheinformationdisclosuremediaandtheplaceforlodgingtheCompany’s periodicreportsintheReportingPeriod. □Applicable?Notapplicable ThewebsiteoftheShenzhenStockExchange,mediaandwebsitewheretheCompany’speriodicreportsaredisclosed,aswellas theplaceforlodgingsuchreportsdidnotchangeintheReportingPeriod.Thesaidinformationcanbefoundinthe2022Annual Report. 3.OtherInformation IndicatebytickmarkwhetheranychangeoccurredtootherinformationintheReportingPeriod.□Applicable?Notapplicable IVKeyFinancialInformation Indicatebytickmarkwhetherthereisanyretrospectivelyrestateddatuminthetablebelow.□Yes?No
1.NetProfitandEquityunderCASandIFRS □Applicable?Notapplicable NosuchdifferencesfortheReportingPeriod. 2.NetProfitandEquityDifferencesunderCASandForeignAccountingStandards□Applicable?Notapplicable NosuchdifferencesfortheReportingPeriod. VIExceptionalGainsandLosses ?Applicable□Notapplicable Unit:RMB
NosuchcasesfortheReportingPeriod. ExplanationofwhytheCompanyreclassifiesasrecurrentanexceptionalgain/lossitemlistedintheExplanatoryAnnouncement No.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItems: □Applicable?Notapplicable NosuchcasesfortheReportingPeriod. PartIIIManagementDiscussionandAnalysis IPrincipalActivityoftheCompanyintheReportingPeriod Withthefullresumptionofsocioeconomicdevelopmentsince2023,thedomesticsalesofthetextileindustryhaveshownanupturn, furtherunblockingtheindustrycirculation.However,thesluggishdemandintheoverseasmarkets,complicatedtradeenvironment, andcontinuinghighproductioncostshaveplacedthetextileindustryunderpressureinthefirsthalfoftheyear,especiallyintermsof export.Thiscanbemanifestedthroughitsmainbusinessindicators,includingproduction,efficiency,andinvestment.Inthefaceof thesechallenges,theCompanyadheredtothe“customer-focused”philosophyandcontinuedtopromotethe“ImproveQualityand Efficiency”and“OverallInternationalization”strategies.Meanwhile,theCompanyensuredorderlymanagementandoperationby expandingmarket,adjustingstructureandbuildingcapabilities. FortheReportingPeriod,theCompanyachievedoperatingrevenueofRMB2,840million,anetprofitattributabletotheCompanyas theparentofRMB222million,andanetprofitattributabletotheCompanyastheparentbeforeexceptionalgainsandlossesof RMB192million,respectivelydown14.71%,43.74%and47.53%whencomparedtothesameperiodoflastyear.NochangesoccurredtotheCompany’sprincipaloperations,productsorbusinessmodels,ortheprimaryfactorsdrivingtheCompany’sgrowth intheReportingPeriod. DuringtheReportingPeriod,theCompanywasratedbytheChinaNationalTextileandApparelCouncilasthe“Outstanding Institutionof2022forTalentDevelopmentinChina’sTextileIndustry”and“ChineseTextileandApparelBrandof2023with CompetitiveEdge”.ItwasalsoawardedbytheShandongTextileandApparelAssociation“SocialResponsibilityContribution Award”.TheCompanymainlyfocusedonthefollowingaspects: (I)ImproveitsglobalmarketingsystemandcontinuouslyboostitscapabilitiesofmarketexpansionTheCompanyadheredtothe“customer-focused”philosophy,focusedoncustomerdemand,andleverageditsownadvantagesinthe industrialchainandproductR&Danddesigncapabilitiestoboostitsmarketingcapabilitiesandservices.Meanwhile,theCompany continuously optimized its customer service procedure, improved exhibition planning and customer management procedures, completedthesetupoftheoverseasmarketingteam,andexpandedthefunctionsofitsoverseasoffices.Doingsohelpedthe Companyprovidecustomerswithmoreprofessionalandefficientmarketingservices,furtherstabilizeitspartnershipwithcustomers, andboostproductcompetitiveness.Moreover,itattachedgreatimportancetotheriskcontrolofinventoryandsalesproceedsduring themarketinginordertominimizethebusinessrisk. (II)ContinuouslyadvanceR&DinnovationtofurtherconsolidateitscompetitiveedgeDuringtheReportingPeriod,theCompanyadvancedtheresearchonthetechnologicalresearchprojectsattheCompanyleveland reservetechnologyprojectsinanorderlymannerandenhanceditscapabilityofcollaborativeleadershipinfieldsincludingthe market,marketing,R&D,andproduction.Italsosecuredsignificantadvancesinprojectssuchastheresearchonthewearabilityof regeneratedcellulosefabricandtheprocessingtechnologyforhigh-whitenessknittedfabric.Moreover,theCompanyintensifiedits communicationandcooperationwithstrategicsuppliers.ItrolledoutnewcategoriesofproductsthroughindependentR&Dandthe introductionofcellulosicmaterials,withmaterialssuchasSupF!t,EcoF!t,andFlaxF!thavingbeenpromotedandappliedtoeach productionline.Technologicalexchangeswithhighereducationinstitutesandinstitutions,suchasDonghuaUniversityandthe NationalCenterforNanoscienceandTechnology,wereorganizedbytheCompany,whichdeliveredfourcooperationintentions regardingtheprogressincutting-edgetechnologies(e.g.greendyeingandfinishingtechnologyandthedevelopmentofintelligent textileproducts). DuringtheReportingPeriod,theCompanywasgranted34patents,including26onesforinvention.ItalsowontheChinaPatent Award(Silver).Additionally,theCompanyhadthreetechnologicalachievementsassessedbytheChinaNationalTextileand ApparelCouncil,includingoneassessedasaninternationallyadvancedachievement.Moreover,theCompanyundertookone nationalkeyR&Dprograminthe“14thFive-YearPlan”period.TheseeffortshavehelpedtheCompanyformthe“inventionpatent- focused”intellectualpropertydevelopmentmodel. (III)Pushaheadwithits“OverallInternationalization”strategiclayoutandimprovetheefficiencyofresourceconsolidation Intermsoftheoverseasbusinesssegment,byremovingthecapacityconstraintsofbottleneckedprocesses,shorteningthedelivery period,andimprovingthesampledevelopmentcapability,theCompanyfilledinthesteadilyincreasingordersofstrategiccustomers. Whileshorteningthedeliveryperiod,italsobuiltupitsprocessandtechniquereserves,strengtheneditsproductdevelopment capabilities,refinedtheGroup’soverseassupplychainsystem,developedmorelocalsuppliersofrawmaterials,re-planedandre-laid outtheproductexhibitionarea,completedthecategoriesoffabricsamples,andvigorouslycontributedtothedevelopmentofthe globalsupplychainsystemsofmanufacturersanddistributors. Next,theCompanywillthoroughlyexplorethedomesticmarketsatmultiplelevelsandinvolvingmultiplefields,engageinthe domesticandinternationalproduction-demandcycles,andpromotetechnologicalandbusinesspatterninnovationandsupplychain updates.Itwillalsocoordinatereasonablequantitygrowthandeffectivequalityimprovement.Doingsowillcontributetothe Company’sachievementofhigh-qualitydevelopment. TheCompanyissubjecttothedisclosurerequirementsforlistedcompaniesengagingintextileandapparelasstatedinGuideline No.3oftheShenzhenStockExchangeforSelf-regulationofListedCompanies—Industry-specificInformationDisclosure. Thesluggishdemandintheoverseasmarkets,complicatedtradeenvironment,andcontinuinghighproductioncostshaveplaced thetextileindustryunderpressureinthefirsthalfof2023,especiallyintermsofexport.Thiscanbemanifestedthroughitsmain businessindicators,includingproduction,efficiency,andinvestment.Endcustomersarestillstrugglingtoreduceinventories, decreasingthedownstreamdemand.Accordingly,businessesgenerallypresentalowoperatingrateandthusfacehugebusiness pressure.Nevertheless,China’sapparelexportindustryremainscompetitive.Affectedbymultipleunfavorablefactors,suchasthe increasinglyweakdemandintheprincipalmarketsworldwideandsupplychainadjustments,businessesintheindustryare strugglingtomaintaintheexportscaleofthetextileandapparelindustryandrecoverinanticipationbyexpandingintoemerging marketsandcreatingnewbusinessmodels.Inthefuture,theymustenhancetheircapabilitiesandseizemarketopportunitiesto activelyrespondtochallenges. IICoreCompetitivenessAnalysis 1.TheCompanyhasacomprehensiveverticalindustrialchainandinternationalizedlayout.Itpossessesthewholeindustrialchain integratingspinning,bleachinganddyeing,neatening,testing,andgarmentmaking,aswellasexcellentqualitycontrolcapabilities throughvariouslinksoftheproductionofhigh-endyarn-dyedfabrics.Inordertoleverageinternationalresources,giveplaytothe advantageofinternationalizedindustrialdistributionandreinforcetheleadinginternationalstatusinmanufacturingthefabricsfor shirts,theCompanyhasputinplaceproductionbases,designagency,andmarketserviceofficesoverseas.2.TheCompanyhasbetterintegratedmanagementcapabilityandhigh-levelmanagementsystemarchitecture.Since1995,the CompanyhassuccessivelypassedthecertificationofISO9001qualitymanagementsystem,ISO14001environmentalmanagement system, ISO45001 Occupation Health Safety Management System, SA8000 Social Responsibility Management System, The WorldwideResponsibleApparelProductionStandard(WRAP),SustainableTextileProduction(STeP),GlobalOrganicTextile Standard (GOTS), Global Recycle Standard (GRS), Higg (FEM and FSLM) and China National Accreditation Service for Conformity Assessment (CNAS), and realized the internationalization, standardization and normalization of the corporate management.Inordertomakeoutstandingachievementinitsoperatingmanagement,betterimprovetheCompany’sbusiness performanceandcapabilities,theCompanyhasintroducedtheGB/T19580CriteriaforPerformanceExcellencestepbystep,setup the“bigquality”system,promotedthemanagementinnovationandguaranteedthemanagementquality.3.TheCompanyestablishesitshigh-leveltechnicalcooperationplatformbyvirtueofstrongR&Dcapability.Infact,theCompany alwaysinsistsontheindependentinnovation,enhancesitstechnicalcooperationwithvariousresearchinstitutes,collegesand universities,strategicclientsandimportantsuppliersbyrelyingonvarioustechnicalplatformsincludingthenationalenterprise technicalcenter,thenationalindustrialdesigncenter,thenationaldemonstrationbaseforintroducingtalents,thenationalpost- doctoralscientificresearchstationandShandongProvincialEngineeringTechnologyResearchCenter,dedicatesitselftothecutting- edge technical research, and gradually transforms from technology research to integrated product development. Besides, the Companywillalsotransformfromtheovercomingofkeytechnicaldifficultiestothemasteryoftechnicalprinciplesandthe formulationofindustrialstandards,andfromthefocusontechnicalinnovationtothedynamicintegrationofnewtechnique explorationwithmodelinnovation,materializethelow-carbon,greenandsustainabledevelopment.IIICoreBusinessAnalysis Overview: FortheReportingPeriod,theCompanyrecordedoperatingrevenueofRMB2,840million(a14.71%year-on-yeardecrease);costof salesofRMB2,234million(a10.55%year-on-yeardecrease),sellingexpenseofRMB66million(a10.88%year-on-yearincrease), administrativeexpenseofRMB175million(a7.87%year-on-yeardecrease),researchanddevelopmentexpenseofRMB131million (a14.21%year-on-yearincrease),andnetcashgeneratedfromoperatingactivitiesofRMB149million(a26.50%year-on-year increase). Year-on-yearchangesinkeyfinancialdata: Unit:RMB
NosuchchangesintheReportingPeriod. Breakdownofoperatingrevenue: Unit:RMB
□Applicable?Notapplicable TheCompanyissubjecttothedisclosurerequirementsforlistedcompaniesengagingintextileandapparelasstatedinGuideline No.3oftheShenzhenStockExchangeforSelf-regulationofListedCompanies—Industry-specificInformationDisclosure. Unit:RMB
PhysicalstoresoftheCompany: □Yes?No Newphysicalstores: □Yes?No IndicatebytickmarkwhethertheCompanydisclosesitstopfivefranchisedstores.□Yes?No IVOtherInformationRequiredbyInformationDisclosureGuideforCompaniesEngagedinTextileandGarmentServices 1.Capacity TheCompany'sowncapacity
?Yes□No Capacityutilizationdecreasedasaresultofthereducedoverseasdemandforfabric.Overseascapacity ?Yes□No
2.Salesmodelandchannels Productsaleschannelsandoperationmethods a.Salesmodel TheCompanyadoptedtheorder-basedsalesmodel.Withtheself-ownedtrademark"Luthai"foritsfabricsales,itprovided customerswithdevelopmentanddesignplansbasedoncustomerneeds,fabricsandpatternsleadingthemarket,fashionand technology,functionsandenvironmentalprotection.Shirtsweremainlymadeaccordingtotheordersofcustomersathomeand abroad,andsoldbybrandowners. TheCompany'sself-ownedbrandwasoperatedthroughself-ownedexclusiveshopssuchasLuThaiExhibitionandSalesPavilion, countersofaffiliatedstoresinmallsande-networkingmarketing.Meanwhile,theCompanycouldprovidecustomerswithhigh-end customizedshirtsandcustomizedbusinessweartomeetthemarketdemandofthehigh-endserviceindustry.b.Saleschannels Directsales:TheheadquartersoftheCompanycarriedoutdirectinvestmentsandoperation,andoperatedandmanagedabrandatthe headquartersorbysettingupabranchcompanyinotherregionstoconcludetransactionswithcustomersoffline.Onlinesales:Throughself-developedplatformsandlargethird-partyonlineshoppingplatforms,theCompanyconcludedtransactions withcustomersontheInternetanddeliveredgoodstocustomersbyexpressdeliveryservices.Unit:RMB
Unit:RMB
Franchiseesanddistributorsrecordedmorethan30%ofsalesrevenue □Yes?No 5.Onlinesales Onlinesalesrecordedmorethan30%ofsalesrevenue □Yes?No Self-developedsalesplatforms
?Yes□No OnlinesaleschannelsopenedorclosedbytheCompany □Applicable?Notapplicable ImpactontheCompanyinthecurrentperiodandsubsequentperiods: Notapplicable. 6.Agencyoperationmodel Agencyoperationmodelinvolved □Yes?No 7.Inventory Inventory
8.Brandbuilding Productionandsalesofbrandclothing,apparelandhometextileproducts?Yes□No Self-ownedbrands
□Applicable?Notapplicable 9.Others Engagedinbusinessrelatedtoappareldesign □Yes?No WhethertheCompanyheldmeetingsfortheplacementoforders（未完）  |