INVESTOR
RELATIONS

Overview

For the year ended 31 December

 
Profitability data (RMB million)
Revenue
Gross profit
Operating profit
Profit attributable to ordinary equity holders
Basic earnings per Share (RMB cents) (Note 1)
Profitability ratios (%)
Gross profit margin
Operating profit margin
Net profit margin
Effective tax rate
Return on average shareholders’ equity (Note 2)
Operating ratios (as a percentage of revenue) (%)
Advertising and promotional costs
Staff costs
R&D costs
2019
8,182.7
3,550.4
1,234.0
727.7
30.72
2019
43.4
15.1
8.9
34.8
11.9
2019
14.4
11.0
2.4
2018
6,383.2
2,828.3
1,044.3
656.5
30.19
2018
44.3
16.4
10.3
31.4
12.4
2018
15.2
11.6
2.6
2017
5,113.4
2,244.5
724.5
408.1
18.81
2017
43.9
14.2
8.0
33.5
8.0
2017
12.9
12.1
2.8
2016
5,396.6
2,331.3
917.0
527.9
23.89
2016
43.2
17.0
9.8
33.8
10.8
2016
11.8
10.5
2.6
2015
5,295.1
2,236.7
921.0
622.6
28.97
2015
42.2
17.4
11.8
28.7
13.0
2015
14.7
9.0
2.3
2014
4,777.6
1,946.9
808.7
478.0
21.95
2014
40.8
16.9
10.0
36.9
10.4
2014
13.1
9.4
2.2
2013
4,343.1
1,747.6
895.4
606.0
27.84
2013
40.2
20.6
14.0
30.1
13.8
2013
11.2
9.3
2.6
2012
5,550.3
2,257.7
1,131.3
810.0
37.22
2012
40.7
20.4
14.6
27.0
19.8
2012
11.4
7.1
1.7
2011
5,539.6
2,257.6
1,219.3
966.4
44.41
2011
40.8
22.0
17.4
20.3
26.6
2011
11.3
4.8
1.8
2010
4,457.2
1,811.7
978.0
813.7
37.42
2010
40.6
21.9
18.3
16.8
25.7
2010
11.7
4.7
1.8
2009
3,545.3
1,387.8
701.4
647.5
29.79
2009
39.1
19.8
18.3
7.8
23.0
2009
11.8
5.3
1.6
2008
2,867.2
1,064.3
590.6
508.2
26.84
2008
37.1
20.6
17.7
12.0
34.8
2008
9.1
5.5
1.6

As at 31 December

 
Assets and liabilities data (RMB million)
Non-current assets
Current assets
Current liabilities
Non-current liabilities
Non-controlling interests
Shareholders’ equity
Asset and working capital data
Current asset ratio
Gearing ratio (%) (Note 3)
Net asset value per Share (RMB) (Note 4)
Average inventory turnover days (days) (Note 5)
Average trade receivables turnover days (days) (Note 6)
Average trade payables turnover days (days) (Note 7)
Overall working capital days (days)
2019
3,056.7
9,265.9
3,671.1
1,691.2
69.8
6,890.5
2019
2.5
19.1
2.77
77
96
88
85
2018
1,139.0
8,059.6
3,277.8
589.8
4.7
5,326.3
2018
2.5
21.1
2.38
80
105
98
87
2017
1,051.9
7,881.8
2,488.8
1,116.3
107.7
5,220.9
2017
3.2
20.7
2.40
75
130
122
83
2016
956.9
7,217.0
3,029.4
121.7
69.3
4,953.5
2016
2.4
18.4
2.26
51
119
107
63
2015
1,063.2
7,050.8
2,966.4
275.9
19.8
4,851.9
2015
2.4
19.8
2.22
58
98
96
60
2014
917.3
6,947.1
2,350.3
803.8
9.9
4,700.4
2014
3.0
23.4
2.16
71
91
85
77
2013
954.6
6,352.2
2,356.0
443.2
1.9
4,505.7
2013
2.7
20.9
2.07
79
92
76
95
2012
663.3
5,836.2
1,436.8
782.9
5.4
4,274.4
2012
4.1
16.1
1.97
70
74
54
90
2011
495.0
5,000.1
1,400.2
183.6
3.9
3,907.4
2011
3.6
12.6
1.80
63
64
63
64
2010
307.6
3,976.6
892.0
39.9
-
3,352.3
2010
4.5
-
1.54
50
51
74
27
2009
275.0
3,365.6
629.3
27.3
-
2,984.1
2009
5.3
-
1.37
47
54
69
32
2008
198.3
3,079.9
637.6
2.8
-
2,637.8
2008
4.8
4.7
1.21
49
48
44
53
Notes:
  • 1The calculation of basic earnings per Share is based on the profit attributable to ordinary equity holders of the Company divided by the weighted average number of ordinary shares in issue during the relevant year.
  • 2Return on average shareholders’ equity is equal to the profit attributable to ordinary equity holders of the Company for the year divided by the average of opening and closing total equity holders’ equity.
  • 3The calculation of gearing ratio is based on the total borrowings divided by the total assets of the Group at the end of the year. Figures from 2008 to 2011 is equal to the total borrowings divided by the sum of share capital and reserves of the Company at the end of the year.
  • 4The calculation of net asset value per Share is based on the total number of Shares in issue at the end of the year.
  • 5Average inventory turnover days is equal to the average of opening and closing inventory divided by costs of sales and multiplied by 365 days (or 366 days in 2016, 2012 and 2008).
  • 6Average trade receivables turnover days is equal to the average of opening and closing trade receivables divided by revenue and multiplied by 365 days (or 366 days in 2016). Figures from 2008 to 2013 is equal to the average of opening and closing trade and bills receivables divided by revenue and multiplied by 365 days (or 366 days in 2012 and 2008).
  • 7Average trade payables turnover days is equal to the average of opening and closing trade payables divided by cost of sales and multiplied by 365 days (or 366 days in 2016). Figures from 2008 to 2013 is equal to the average of opening and closing trade and bills payables divided by cost of sales and multiplied by 365 days (or 366 days in 2012 and 2008).
  • 8When calculating the average inventory turnover days, trade receivables turnover days and trade payable turnover days for 2019, the opening balances of inventories, trade receivables and trade payables include the respective consolidated balances of K-Swiss Holdings, Inc. (previously known as E-Land Footwear USA Holdings Inc.) and its subsidiaries as if it had been part of the Group since 1 January 2019, and the revenue and cost of sales used for the calculations include the annualised consolidated revenue and cost of sales of K-Swiss Holdings, Inc. and its subsidiaries recorded since the Group’s acquisition on 1 August 2019.
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