Sa Sa (0178) announced the results for the first half of this year as of September 30, and its operations from October 1 to November 14.
The group lost 181 million yuan in the first half of the year, narrowing from a loss of 242 million yuan in the same period last year; the basic loss per share was 5.9 cents, and no interim dividend was continued.
The group explained that in view of the severe business and operating environment and uncertain prospects, the board of directors decided not to pay interim dividends in accordance with the group's profit-based dividend policy and the implementation of responsible risk management.
During the period, turnover was 1.597 billion yuan, an increase of 24.2% year-on-year, of which retail and wholesale turnover in Hong Kong and Macau SAR markets rose 26.9% to 1.086 billion yuan.
10 stores in Hong Kong in the first half of the year
On September 30, the group operated 233 retail stores.
Sa Sa pointed out that the sharp drop in visitor arrivals to Hong Kong has severely hit retail stores in tourist areas. Therefore, the group continued to streamline its store network. The total number of stores on September 30, 2021 decreased by 15 compared to the same period last year. The number of stores closed in the first half of the year. All 10 shops are located in the Hong Kong Special Administrative Region, most of which are located in tourist areas.
Front-line beauty consultants from closed stores are assigned to neighboring branches to continue working, so that other stores in the same district can continue to serve their original customers systematically and drive sales growth.
In addition, the online business of the Hong Kong Special Administrative Region benefited from the conversion of consumers in some physical stores to online shopping. Its sales rose 41.1% year-on-year to 58.4 million yuan. Therefore, the closing of the store did not cause significant sales losses to the group.
As for the operating conditions from October 1st to November 14th, Sa Sa’s overall turnover rose 1.4% year-on-year, of which local retail sales rose 15.9% year-on-year, and same-store sales rose 23.4%.
