20150320Golden Eagle Presentation 2014 23.3.2015 定 · 2015-03-24 · Financial Position As at 31 Dec 2014 As at RMB million 31 Dec 20 31 Dec 2013 Total Assets Total Liabilities

PRIVATE AND CONFIDENTIAL

March 2015

Financial Highlights in 2014

Total GSP decreased by 5.9% YOY to RMB15.8 billion

Concessionaire rate increased to 18 2% rose by 0 4%Concessionaire rate increased to 18.2%, rose by 0.4%

point

Profit from operations reduced by 12.7% to RMB1.3

billionbillion

Profit for the year reduced by 12.5% to RMB1.1 billion

Same store sales growth (“SSSG”) declined by 5.5%

2

Financial Highlights in 2014

2013 (+/-)Year ended 31 December (RMB million) 2014

Gross Sales Proceeds (GSP)

Concessionaire Sales

( )

14 205 2

16,833.1

15 276 0

-5.9%

-7 0%

15,840.9

Concessionaire Sales Direct Sales

14,205.21,485.8

15,276.01,456.5

-7.0%+2.0%

Rental Income 149.9 84.9 +76.7%M t S i F

2,580.4 2,642.7 -2.4%Gross Profit

Management Service Fees 15.7 -100.0%-

EBIT (P fi f i ) 1 322 7 1 515 2 12 7%

284.6 233.0 +22.2%Other Operating Income

1,542.3 1,360.5 +13.4%Operating Expenses

EBIT (Profit from operations)

P fit Att ib t bl t Sh h ld

EBITDA

1,322.7 1,515.2 -12.7%

1 082 5 1 235 0 12 3%

1,577.2 1,729.7 -8.8%

Profit Attributable to Shareholders

EPS – Basic (RMB)

1,082.5

0.599

1,235.0

0.656

-12.3%

-8.7%3

2014 Margin Analysis

(+/- )Year ended 31 December 2013 (+/ )% pointsYear ended 31 December(%)

2014

Gross Margin 18.4% +0.619.0%

Concessionaire rate from concessionaire sales 17.8% +0.418.2%

Di t l i 18 3% 0 58Direct sales margin 18.3% -0.517.8%

Combined margin 17.8% +0.418.2%

Impact on combined marginfrom gold and jewellery sales +0.4

44

2014 Profit Analysis

2013 (+/- )2014Year ended 31 December(RMB million)

Profit for the year 1,234.5 -154.21,080.3

(RMB million)

Profit for the year 1,234.5 154.21,080.3

- One-off improvement work at -81.4

Nanjing Xinjiekou Store, net of tax -53.1 1H2014-28.3 2H2014

- 2014 new stores and loss making stores -24.6

- 2013 and 2014 closed stores -13.5

55

Financial Position

As at 31 Dec 2014

As at 31 Dec 2013RMB million 31 Dec 2014

Total Assets

Total Liabilities

16,517.7 15,104.0

11,102.2 9,857.6

Net Assets 5,415.5 5,246.4

Cash and Near Cash (note 1) 5,408.6 5,941.7

Short-term Loans 1,003.8 -

Total Borrowings 5,536.0 4,494.2

S di t d L d i A il 2015 2 086 6

N t (D bt ) C h (127 4) 1 447 5

10-Year Senior Notes 2,419.6 2,407.6

Syndicated Loans due in April 2015 2,112.6 2,086.6

Gearing Ratio (note 2) 33.5% 29.8%

Net (Debts) Cash (127.4) 1,447.5

6

Note 1: Cash and near cash represents bank balances and cash and various short-term bank related deposits, including investments in interest bearing instruments, structured bank deposits and restricted cash

Note 2: Gearing ratio = total borrowings / total assets 6

Cash Flow Statement

FY2013FY2014Year ended 31 December(RMB million)

Net cash from operating activities 1,275.1722.4

( )

- (Decrease) increase in deferred revenue 13.9(401.2)

(453.7) (2,391.0)Net cash used in investing activities

- (Increase) decrease in inventories 44.0(34.8)

- Changes in short-term bank related deposits 674 8

(1,061.7)

(2 173 9)

(342.2)- Capex for the year

bank related deposits 674.8 (2,173.9)

Net cash used in financing activities (114.9) (58.4)- Increase in borrowings 1 002 4 1 386 7g 1,002.4 1,386.7- Repurchase of own shares (416.1) (943.7)- Dividend paid (522.0) (352.8)

7

Net increase (decrease) in cash and cash equivalents 153.7 (1,174.3) 7

Stable Growth and Profitability

GSP & Combined Margin Revenue

400017.8% 18.2%20.0%20,000

M

3,660 3,625

1000

2500

2013 2014

RMB'M

16,833 15,841

0.0%

10.0%

10,000

15,000

2013 2014

RMB'M

Revenue

Profit from Operations (EBIT) Sales Per Ticket (same store basis)

GSP Combined Margin

41.4%1,600900

Profit from Operations (EBIT) Sales Per Ticket (same store basis)

0 5%

1,5151,323

36.5%

0 00%

20.00%

40.00%

1 000

1,300

,

RMB'M

861 865

500

700

900

RMB'M

0.5%

0.00%1,000

2013 2014

EBIT EBIT Margin

2013 2014

Sales Per Ticket (Excluding supermarket sales)

88

Expense Ratios

Staff Expense Depreciation and Amortisation

2.6%3.2%

2.0%3.0%

As a % of GSP

1.5% 1.9%

0.0%2.0%

As a % of GSP

376 431

250

500

RMB' M

214 255

200

300

RMB' M

02013 2014

Rental Expense Other Operating Expenses

100

2013 2014

1.2% 1.4%

0.0%

1.5% 4.2%5.0%

3.0%

5.0%

170 185

100

200

RMB' M 600

672

600

700MB' M

9

02013 2014

R

5002013 2014

RM

9

Business ReviewBusiness Review

10

Growing Presence in the PRCPRC

The Group’s GFA as at 23 March 2015 was 1,534,387 sq.m.

Out of 29 operating stores, 7 stores are in the format of

Hefei Suzhou

Road store

Changzhou

*NanjingXinjiekouLifestyleOut of 29 operating stores, 7 stores are in the format of

lifestyle centersHuai’an

store

KunmingLifestyleCentre

Jiahongstore

S hoXi'an

Xi’an Xiaozhai

Store

^YanchengJulonghuLifestyle

C t

Lifestyle Center

Nanjing Xinjiekou

store

Nantong store

Suzhoustore

(closed in Feb 2013)

GuomaoStore

(closed inOct 2010)

YanchengLifestyleCentre

Nanjing Zhujiang

store

Sto e(suspended in

Oct 2015)

Suqianstore

NantongYuanrongLifestyle

Center

Center

050397-99 0200 0496 06 0807 09 1001

H f i

11 12

Yang ho

1413 15

Yangzhoustore

Xuzhoustore

Xi'anGaoxin

store

HefeiDadongmen

storeHefei

Baihuajingstore

Shanghaistore

Yangzhou Jinghua

store

Liyangstore

XuzhouPeople Square

store

DanyangLifestyle

CenterKunshanLifestyle

Anhui Huaibei storeTaizhoustore

Nanjing Yancheng

store storeNanjing

Hanzhongstore

KunmingNanya store

store yCenter

11

Xianlin store

Changzhou Wujin store

Outlet store

* Nanjing Xinjiekou Store, together with the additional area of 81,098 sq.m., was upgraded to a lifestyle center in April 2014

Store Sales

The leading stylish premium department store chain in second-tier cities, catering for the mid-to-high-end retail market

Chain Store Years intooperationRetail OFA

(sq.m.)Lifestyle OFA

(sq.m.)Total OFA(sq.m.)

2014 Sales(RMB'M)

SSSG(%)

2014 ASP(RMB)

2013 ASP(RMB)

1 Nanjing XinjiekouLifestyle Center 18.5 57,182 23,427 80,609 3,121 -11.7% 1,435 1,388

(1) (2) (3) (3)

(4) (4)

2 Nantong 14 5,689 148 5,837 250 -4.9% 1,023 909

3 Yangzhou 13 27,669 1,212 28,881 1,613 -4.9% 1,039 963

4 Xuzhou 11 37,039 6,196 43,235 1,932 -6.5% 961 936

5 Xi'an Gaoxin 8.5 18,518 2,149 20,667 1,054 -12.6% 1,197 1,150(5) (5)

6 Taizhou 8 32,686 8,194 40,880 831 -0.5% 846 790

7 Kunming 7 5 31 398 46 641 78 039 655 -2 2% 898 9717 Lifestyle Center 7.5 31,398 46,641 78,039 655 2.2% 898 971

8 Nanjing Zhujiang 7 20,864 5,643 26,507 580 -13.3% 790 726(6) (6)

(1) As at 31 December 2014

12

(2) Retail OFA of 792,260 sq.m., Lifestyle OFA of 264,562 sq.m. and total OFA of 1,056,822 sq.m. as at 23 March 2015(3) Excluding supermarket sales(4) Including sales contribution from 81,098 sq.m. additional GFA soft-opened in 26 April 2014(5) Subway constructions during the period under review which are expected to be completed in 2015(6) Major store revamp during the second half of 2014

12

Store Sales (Cont’d)




2014 Sales(RMB'M)

SSSG(%)

2014 ASP(RMB)

2013 ASP(RMB)

9 Huai'an 6 27,384 6,316 33,700 505 3.9% 828 775

(1) (2) (3) (3)

, , ,

10 YanchengLifestyle Center 6 44,588 16,568 61,156 1,241 1.3% 895 839

11 Yangzhou Jinghua 5 5 18 519 696 19 215 476 16 8% 606 55411 Yangzhou Jinghua 5.5 18,519 696 19,215 476 16.8% 606 554

12 Shanghai 5.5 1,614 0 1,614 155 -49.0% 3,538 3,047

13 Nanjing Hanzhong 5 5 9 783 445 10 228 279 9 6% 409 386

(7) (7)

13 Nanjing Hanzhong 5.5 9,783 445 10,228 279 9.6% 409 386

14 Nanjing Xianlin 5 29,941 3,549 33,490 714 16.2% 434 431

(8) (8)15 Hefei Dadongmen 4 6,210 2,338 8,548 88 -47.6% 1,982 2,707

16 Hefei Baihuajing 4 8,697 1,136 9,833 160 -18.1% 930 851

(8) (8)

17 Anhui Huaibei 4 22,348 5,839 28,187 331 10.5% 594 583

18 Hefei Suzhou Road 4 25,892 6,781 32,673 213 -25.0% 705 735


(9) (9)

13

(1) As at 31 December 2014(2) Retail OFA of 792,260 sq.m., Lifestyle OFA of 264,562 sq.m. and total OFA of 1,056,822 sq.m. as at 23 March 2015(3) Excluding supermarket sales(7) Store closed for major revamp since 30 May 2014(8) Subway constructions during the period under review which are expected to be completed in 2015(9) Due to unsatisfactory property condition, OFA was reduced from 46,188 sq.m. to 32,673 sq.m. since Oct 2014

Store Sales (Cont’d)




2014 Sales(RMB'M)

SSSG(%)

2014 ASP(RMB)

2013 ASP(RMB)

(1) (2) (3) (3)

19 Changzhou Jiahong 3.5 23,747 10,952 34,699 91 35.3% 512 450

20 Suqian 3 38,752 12,655 51,407 373 27.8% 582 470

21 Liyang 3 30,611 16,060 46,671 204 8.2% 538 490

22 Xuzhou People's Square 3 15,341 11,812 27,153 260 1.9% 630 553

23 Kunming Nanya 3 24,964 4,186 29,150 171 6.3% 856 810

24 Changzhou Wujin 2.5 33,034 8,880 41,914 195 -33.4% 606 842(10)

25 Yancheng Outlet 2.5 14,568 585 15,153 129 29.6% 337 312

26 Yancheng JulonghuLifestyle Center 0.3 52,981 28,268 81,249 102 - 700 -Lifestyle Center

27 Nantong YuanrongLifestyle Center

Since 20.12.2014 36,726 7,718 44,444 22 - 939 -


14

(1) As at 31 December 2014 (2) Retail OFA of 792,260 sq.m., Lifestyle OFA of 264,562 sq.m. and total OFA of 1,056,822 sq.m. as at 23 March 2015(3) Excluding supermarket sales(10) Excluding gold and jewellery sales, SSSG would have been -2.0%

Self Owned Properties

Self-owned properties in prime locations account for 60.9%* of our GFA

* As a percentage of total GFA (sq m ) as at 23 March 2015

20.9%*Leased from related parties

18.2%*Leased from

independent 3rd parties* As a percentage of total GFA (sq. m.) as at 23 March 2015.

Store(in operation) Owned / Leased

GFA (sq. m.)

Nanjing Xinjiekou Owned / Leased 85,303 / 29,242Owned-to-leased GFA ratio

60.9 %*Owned

parties

Nantong Owned 9,297

Yangzhou Owned / Leased 37,562 / 3,450

Xuzhou Owned 59,934

Xi’an Gaoxin Owned 27 287

Owned-to-leased GFA ratioStore

(in operation)Owned / Leased

GFA (sq. m.)

Anhui Huaibei Leased 34,714

H f i S h R d L d 45 690Xi an Gaoxin Owned 27,287

Taizhou Owned 58,374

Kunming Owned 116,817

Nanjing Zhujiang Leased 33,578

Hefei Suzhou Road Leased 45,690

Changzhou Jiahong Owned / Leased 18,362 / 33,458

Suqian Owned 65,410

Liyang Owned / Leased 53,469 / 18,355

Huai’an Owned 55,768

Yancheng Owned 95,904

Yangzhou Jinghua Leased 29,598

y gXuzhou People’s

SquareOwned 37,768

Kunming Nanya Leased 36,870

Changzhou Wujin Leased 55,200Shanghai Leased 19,668

Nanjing Hanzhong Leased 12,462

Nanjing Xianlin Leased 42,795

Hefei Dadongmen Leased 10 356

g j

Yancheng Outlet Leased 18,377

Yancheng Julonghu Leased 110,848Nantong Yuanrong Owned 94,700

Danyang Leased 52 976

15

Hefei Dadongmen Leased 10,356

Hefei Baihuajing Leased 12,294

Total 1,534,387

Danyang Leased 52,976

Kunshan Owned 118,500

A Broad VIP Customer BaseBase

A broad and growing VIP customer base continued to strengthen customer loyalty to pave way for long term growth

VIP consumption

Over 1,710,300 members* VIP consumption accounted for 55.5% of total GSP in 2014

pave way for long-term growthVIP members % of Total GSP

65% 63% 63% 62% 58%56% 56% 60%

1 400 000

1,600,000

1,800,000

VIP consumption accounted for more than 58% for matured stores2 types: i) G Club: Platinum and Gold application and

30%600 000

800,000

1,000,000

1,200,000

1,400,000

i) G. Club: Platinum and Gold, application and renewal based on spending

ii) G. Point: Pre-VIP, free application and point awards only

Point awards exclusive benefits0%0

200,000

400,000

600,000

2008 2009 2010 2011 2012 2013 2014Point awards, exclusive benefitsIntroduced co-branded credit cards with different banks* As at 31 December 2014

1616

Merchandise Offering

Offer a wide range of mid-to-high-end merchandises to meet the “one-stop shopping” needs of our customers

Category2014 GSP

Contribution

2013 GSP

Contribution

(+/- )% points Top Performing Brands

Merchandise Mix in 2014

Apparel & Accessories 51.4% 52.1% -0.7

Gold, Jewellery and Ti i 20.4% 21.6% -1.2Timepieces

Cosmetics 8.8% 8.1% +0.7

Outdoors and Sportswear 4.9% 3.9% +1.0

Electronics and Appliances 4.5% 4.9% -0.4

Tobacco and Wines, Household and Handicrafts 4.5% 4.9% -0.4

Children’s Wear and Toys 2 9% 2 6% +0 3Children s Wear and Toys 2.9% 2.6% +0.3

Supermarket & Others 2.6% 1.9% +0.7 171717

Upcoming New Storesp g

18

Upcoming New Stores

Upcoming store GFA (sq.m.) Owned / Leased 2015 2016 and onwards

Jiangning Nanjing @ Leased 144 710 (mid 2015)*Jiangning, Nanjing @ Leased 144,710 (mid 2015)

Ma’anshan, Anhui @ Leased 87,568 (2H 2015)

Xinjiekou Block B, Additional @ Managed 23,800 (Dec 2015)

Wujiang, Jiangsu Owned 57,800 (Dec 2015)

*

Suzhou 2, Jiangsu Owned 176,764

Danyang Additional, Jiangsu Leased 58,100

Changzhou 3, Jiangsu Leased 60,000

Chuzhou, Anhui Managed 50,000#

& *

Chuzhou, Anhui Managed 50,000

Hexi, Nanjing @ Owned / Managed 160,000 / 114,000

Xianlin Additional, Nanjing @ Owned 150,100

Xuzhou Additional, Jiangsu Owned / Managed 48,800 / 10,000

d h ( ) @ O d 250 000*Jiangdu,Yangzhou (JV) @ Owned 250,000

Xi’an3, Shaanxi Leased 62,500

Total 1,454,142 313,878 1,140,264

% Year End GFA Increase1,534,387

20 5% 61 7%

*

% Year End GFA Increase(as at 23 Mar 2015)

20.5% 61.7%

% of Owned Property (GFA) 53.7% 59.5%

Estimated Max Capex. (RMB) 1.6 billion Around 1.5 billion each year

@ To be in the format of comprehensive lifestyle center (全生活中心)

^^

@ To be in the format of comprehensive lifestyle center (全生活中心)* Revise / addition after August 2014 Interim Presentation# 3 years managed contract from day of operation with first right to lease& Including car parking spaces of 44,741 sq.m..^^ Excluding the investment costs for joint venture companies.

19

Development of Brands andDevelopment of Brands and Product Categories

20

Development of Brands and Product Categories

Time Vallée – watch brand collection shopp

Grand opened on 9 March 2015.Operating area of 580 sq.m.

Strong brand portfolioUnparalleled shopping experienceCustomized professional services

Time Time TravelTravel L’AtelierL’Atelier Secret RoomSecret Room

21


Introduce featured popular brandsAttract young consumers and broaden customer base

Fast fashion:5 brands (such as H&M, UNIQLO) were introduced in 2014Total operating area of 5,840 sq.m.Total operating area of 5,840 sq.m.Total GSP of RMB163 million, grew 49.4% YoY, SSSG 10.2%6 brands (such as ZARA, MANGO) to be introduced in 2015

UNIQLO at Zhujiang Store MUJI at Zhujiang Store and Kunming Block B

Creative living galleries:POPMART, POLYMONO and MEETFEEL

H&M at Kunming Block B Charles & Keith at KunmingBlock B

GAP at Kunming Block B

* Cooperation with UNIQLO, H&M and GAP are under operating leasing 22


d lf d f h ll h

Increase the floor area for fashion collection store and improve merchandise adjustment capability

Introduces ALVEARE, a self-operated Korean fashion collection shop at Nantong Yuanrong Store for the first time to integrate resources and enhance operating efficiency and flexibility.

• Four top Korean stylish brands, namely ZISHEN, VIKI, JENNIS and OLIVIA LAUREN

• Covering ladies’ consumer goods, such as clothes, shoes, handbags and accessories

• Operating area of 188 sq.m., GSP of RMB160/sq.m. during the first three days of

operationoperation

23


Sales fairs for unique merchandises

Take advantage of spacious operating area at lifestyle center and solid VIP customer

base, introduce sales fairs of Taiwanese and Japanese specialty products

Taiwan Fairs at Nanjing Xinjiekou Store recorded a GSP of RMB2.18 million during 11

days of operation

7 more Taiwan Fairs will be held in different stores in 2015

24


Explore new growth drivers and introduce Focus on categories with

The Group’s categories sales with high growth potential

p ghigh quality exquisite merchandises high growth potential

1,3681,393

1,400

1,600

RMB million

high growth potential

650775

800

1,000

1,200

438458

200

400

6002013

2014DYSON - GSP RMB10,000 per month / sq.m.

Blueair

0

Cosmetics Outdoors and

sportswear

Kids' wear and toys

- GSP RMB17,000 per month / sq.m.

Elemental Kitchen - GSP RMB7,000 per month / sq.m.

Source : Nanjing Xinjiekou Store 2014 sales data j g j

25

Investing in and Developing Controllable Merchandise Resources

Buyout, distribution arrangements and equity investment – provide differentiated fine-living goods to customers, enhance the Group's profit margin

Introduce high value-for-money foreign exquisite brands

Develop self-operated brand to fill a gap in the market and enrich product categories

26


Private label GSPPrivate label merchandise

250

300Diversified portfolio

47 private labels and approximate 400

RMB million

207 210245 254

150

200

1.5%16.7%

3.7%

p ppcounters

Comprising luxury items, menswear, ladieswear, shoes, handb

0

50

100ags, accessories, outdoor merchandises, children’s wear and lifestyle merchandises

Annual GSP of RMB254 million in 2014 02011 2012 2013 2014

Annual GSP of RMB254 million in 2014

List of key brands : International Famous Household & children Casual wear

27


WONDERPLACE Brand’s Development in Korea

US$ million

Top Korean stylish brands collection store

Opened its first store in China at Nanjing 80

100

120

97

Zhujiang Store on 20 December 2014

Operating area of 580 sq.m.

10 stores are expected to be opened in 20

40

60

1423

43

1016stores

22stores

37stores

Sales performance

10 stores are expected to be opened in

China in 2015 02010 2011 2012 2013 2014

5144

storesstores No. of stores

28


XESS

New popular brand from Seoul “Fashion Week”

XESS opened its first two stores in China at Nanjing Xinjiekou Store and Kunshan Store

31 J 2015on 31 January 2015

12 stores are expected to be opened at Golden Eagle premises in 2015

29


CAROLL

French classic ladieswear, with approximately 500 retail outlets worldwide

Exclusive partnership in China

Opened its first outlet in China at Nanjing Xinjiekou Store on 14 February 2015

7 more stores to be opened at Golden Eagle in the next two years

30


Reform cooperative relationships with established well-known brandsOptimize cooperative relationships consistently, and started to cooperate under a direct sales business model

Deepen the win-win cooperation with brand suppliers, strengthen single-product management

Reduce the risk of launching new proprietary brands into the marketReduce the risk of launching new proprietary brands into the market

Enhance gross profit margin and increase gross profit from brand operation

Strengthen news stores’ merchandise procurement and sourcing capabilities

Northland Generated RMB35.32 million GSP in 2014 Lining Generated RMB9.61 million GSP in 2014

31


G-MartAchieving an average gross profit margin of 20.9%, an increase of 1.3 percentage points, higher than the Group’s average gross profit margin

Developed Golden Eagle Food Festivals, strengthened shopping experience, created differentiation and gained popularity

GSP of supermarketsGSP of Nanjing Xinjiekou Store

supermarket

RMB million RMB million

250

300

350

800

1,000

1,200

Souvenir, light meals and

Food, non-food, fresh food

762

1,001

235 218

306

o RMB million

100

150

200

400

600

800health supplements

Target in 2015462 377

704

151

218

121

0

50

2013 2014 2015E

0

200

2013 2014 2015E

* Nanjing Xinjiekou Store supermarket was closed for two months for renovation and upgrades in 2014

300 327 84 97

Bashu Food Festival Organic Rice FairYunnan Food Festival Lunar New Year Folk Fair 32


O d 13 lf t d d 1 f hi d t i l

Mr. PizzaAnnual GSP of

Joint Venture between

70

80

Opened 13 self-operated and 1 franchised stores, average single-store operating area of 315 sq.m..

The number of stores is expected to increase to 40 at the end of 2015

Joint Venture between GE and Mr. Pizza

RMB million

7330

40

50

602015

Stores at Golden Eagle: Nanjing Xinjiekou Store / Yangzhou Store / Yancheng Julonghu Store / Nanjing Zhujiang Store / Nantong Yuanrong Store

210

10

20

30Store / Nanjing Zhujiang Store / Nantong Yuanrong Store

Generated GSP of RMB13.2 million during the first 8-month operation at Nanjing Xinjiekou Store

2014

2013

2013 2014As at 31 December 2014

33


POPMART

Beijing TianjinJiangsuOpened 12 self-operated and 1 franchised stores, average single-store operating area of 170 sq.m.. Beijing

8 storesTianjin

1 storeJiangsu

4 stores

g p g q

The number of stores is expected to increase to 35 at the end of 2015

Zhongguancun – Oumeihui

Chongwenmen – Glory City

Wangfujing – APM

Jiuxianqiao – INDIGO Mall

Xizhimen – CapitalMALL

Tianjin Hang Lung PlazaYancheng - Golden Eagle Julonghu Store

Nanjing - Golden Eagle Xinjiekou Store

Nanjing - Golden Eagle Zhujiang Store

Variety of interesting goods, 3000 SKUs per store

Stores at Golden Eagle:Yancheng Julonghu Store / Nanjing Xinjiekou Store / Nantong Yuanrong Store / Nanjing Zhujiang Store Taiyanggong - CapitalMALL

Tongzhou – Wanda Plaza

Wudaokou Shopping Centre

Nantong – Golden Eagle Yuanrong S tore

Nantong Yuanrong Store / Nanjing Zhujiang Store

Jointly develops a variety of interesting promotion gift items with the Group Annual GSP

As at 31 December 2014

20

25

3026

RMB million

5

10

15

20

12

2014

2013

0

5

2013 2014 34

Integration ofIntegration of Marketing Resources and VIP ServicesVIP Services

35

BIG DAY

Focus on 19 key promotional events for 68 “BIG DAYS” during the year

Integrate chain stores’ resources, unify promotional campaigns with key merchandise brands

Achieve both GSP and operating profit growth

244250

300RMB million

192

150

200

250

100%16%

69

0

50

10024%

0Double 11 Shopping Festival

Christmas Valentine's Day

36

BIG DAY

Valentine’s Day celebration cooperation with key merchandise

brands Same store GSP per sq m

6,449

6 000

7,000

Same store GSP per sq.m.

RMB

3,6484,000

5,000

6,000

3,037 3,070

,

1 299 1,3772,000

3,000

,

783 9511,299 ,

0

1,000

Chow Tai Fook Clarins Guerlain Estee Lauder

37

Expand VIP customer base

N b f VIP bIssued China Construction Bank and Bank of Communications Co-Brand VIP Credit Cards in 2014VIP members

‘000

Number of VIP members

Introduced “Hipster Card” to engage young customers

1,170

1,710

1 0001,2001,4001,6001,800

600743

8251,020 1,070

200400600800

1,000

As at 31 December2014

0200

2008 2009 2010 2011 2012 2013 2014

38

Allowing Customers to enjoy a Comprehensive Lifestyle with a VIP Card

Issuing a VIP card to allow customers to enjoy comprehensive lifestyle services, including

shopping at department stores, food and beverage, hotels, real estates, automobiles and online

overseas shoppingHotelsHotels

Department StoresStores

Overseas Shopping

Food and Food and BeverageBeverage

AutomobilesAutomobiles

Real Real EstatesEstates

39


Automobile integrated services

Operates Volkswagen 4S shops, offering international luxury automobile sales, automobile repairs and inspection services

Future new business

Sales and integrated services for Tesla and imported luxury automobiles

Chain operation of automobile integrated services provides extensive value-added services to VIP customers including

automobile repair, maintenance, modification and car beauty

4S stands for Sales, Spare part, Service and Survey

40


Aquarium

Became first to introduce an aquarium in a department store, enhance customers’ shopping experience and increase foot trafficChangzhou Jiahong Aquarium opened in January 2014, operating area of 5,000 sq.m. and served 150 000 visitors during its first year of operation

q150,000 visitors during its first year of operation More Golden Eagle Aquariums to be opened in Nanjing, Yancheng and Suqian in the next three years

41

New stores opened since 2014

42

Effective Implementation the Concept ofComprehensive Lifestyle CentersCentersIn the past 12 months, a total of 5 comprehensive lifestyle centers with an average GFA of 98,000 sq.m. characterized by sizeablescale, comprehensive amenities and diverse shopping experience, were opened. These stores are customized to cater for consumptiondemands of respective cities, so as to establish a distinctive format and strengthen the leading position in the market.

西安 Xi’an

11上海

15

陕西Shaanxi 江苏

Jiangsu 徐州 Xuzhou

22安徽 6611

1144

上海Shanghai

淮北 Huaibei

泰州 T i h扬州

盐城 Yancheng宿迁 Suqian

淮安 Huai’an11

1122

22

1122 11

安徽Anhui

66

昆明 Kunming

11 11

云南Yunnan 南京

Nanjing

南通 Nantong

泰州 Taizhou扬州Yangzhou

11

1122

1133 22

丹阳Danyang 11

11

11 11

合肥 Hefei

常州 Changzhou

11

33

上海Shanghai

11

溧阳 Liyang 11

昆山g

分店数量No. of stores

Lifestyle Center

Department Store

7

A t 23 M h 2015

昆山Kunshan

43

Department Store

Total

22

29

As at 23 March 2015

Effective Implementation the Concept ofComprehensive Lifestyle CentersCenters

Nanjing Xinjiekou Lifestyle CenterlGross Floor Area: 114,545 sq.m.

Opening date: 26 April 2014

Block A and Block B are interconnected

with a space corridor

Introduced over 100 international stylish

brands to Nanjing for the first time

G-Mart achieved record-high results

among the premium supermarkets in

Nanjing during its first year of operation

2,5682,500

3,000RMB

BLOCK B monthly GSP per sq.m. in 2014

1,466

500

1,000

1,500

2,000

,500

0

500

May Jun Jul Aug Sep Oct Nov Dec44


Yancheng JulonghuLifestyle Center

The third store in Yancheng City

Gross Floor Area: 110,848 sq.m. Opening date: 6 September 2014

The third store in Yancheng City

Integrated a wide range of functions including aquarium, children’s playground, G-Mart the premium supermarket and over 60 specialty F&B

Soft opening Grand opening 114 daysSoft opened on 6 September 2014:First 3-day of operation GSP of over RMB11 million and over 280 000 visitors

Grand opened on 29 November 2014:9-day of operation GSP of over RMB18 million and over 400,000 visitors

As at 31 December 2014, in 114 days of operation:GSP reached over RMB100

illi280,000 visitors million

45


Nantong YuanrongLifestyle CenterLifestyle Center

Gross Floor Area: 94,700 sq.m. Opening date: 20 December 2014

The second store in Nantong City

During first 3 days of operation:

- GSP over RMB15.0 million

- Over 300,000 visitors

46


Danyang Lifestyle Center

The first mega one-stop

Gross Floor Area: 52,976 sq.m. Opening date: 1 January 2015

commercial complex in Danyang

During first 3 days of operation:

- GSP of over RMB8 millionGSP of over RMB8 million


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Kunshan Lifestyle CenterGross Floor Area: 118,500 sq.m.

Operates the Group’s first light luxury collection store with brands such as POUR LA VICTOIRE, ROVIMOSS

Opening date: 31 January 2015

The first large kids section covers all ages, introducing brands such as Nautica Kids, jnby by JNBY

The largest premium supermarket in the city with an operating area of 6,100sq.m.

During first 3 days of operation:During first 3 days of operation:

- GSP of over RMB11.50 million


48

Documents

20150320Golden Eagle Presentation 2014 23.3.2015 定 · 2015-03-24 · Financial Position As at 31 Dec 2014 As at RMB million 31 Dec 20 31 Dec 2013 Total Assets Total Liabilities