The Group delivered a positive set of results for FY2026, with both profit after tax and earnings per share increasing by 16.7% to RMB 49.9 million and RMB 26.0 cents, respectively. The growth was driven primarily by robust earnings from our outlet malls. Net cash flows from operating activities increased significantly to RMB 135.3 million in FY2026, compared with RMB 46.0 million in FY2025. In recognition of this performance, the Board has proposed a dividend of SGD 1 cent per share.

Our outlet business segment continued to perform well. Profit after tax contribution from Changsha Sasseur (ZMBH) Outlets (“CSO”) grew by 10.2% to RMB 34.6 million in FY2026. With ongoing asset enhancement initiatives, CSO remains one of the Group’s key pillars of earnings.

Wuxi Yueshang Outlets (“YSO”), which entered its second year of positive earnings, contributed RMB 22.3 million to the Group in FY2026, compared with RMB 4.0 million in FY2025. Lvliang Yueshang Intime, which opened in January 2026, recorded a loss of RMB 1.6 million for the Group in FY2026, compared with no contribution in the previous financial year.

Our stores in Fujian recorded a pre-tax loss of RMB 4.1 million in FY2026, compared with a profit of RMB 16.9 million in FY2025. The FY2025 result included RMB 19.7 million of gains recognised from the derecognition of right-of-use assets following store closures. Excluding these gains, the Fujian stores would have recorded a pre-tax loss of RMB 2.8 million in FY2025. Nevertheless, the Fujian stores performed weaker in FY2026, with revenue declining by 3.3% to RMB 919.7 million and gross profit declining by 10.9% to RMB 196.8 million. Gross profit margin also fell from 23.2% to 21.4%.

In FY2026, the Group launched a new wholly-owned supermarket brand, “Parkway Utalk”. Parkway Utalk supermarkets are neighbourhood stores with a store size of approximately 800 to 1,000 sqm. Three Parkway Utalk supermarkets have been launched to date, with more stores expected in the future.

According to data from the National Bureau of Statistics of China, the Chinese economy continued to grow at a moderate pace. In the first half of 2026, China’s GDP grew by 4.7%, while retail sales of consumer goods excluding automobiles increased by 2.8%. Within the retail sector, sales at supermarkets and department stores grew by 3.8% and 2.1%, respectively.

The Group will continue to pursue selective mall projects across China, while driving operational efficiency and improving profitability across our Fujian stores. The retail landscape remains competitive and dynamic, but we are confident in our ability to adapt to changing market conditions, enhance our assets and deliver sustainable growth.

On behalf of the Board, I would like to express our sincere appreciation to our stakeholders, especially our shareholders, for their continued trust and support.

12 October 2026

主席和总裁致词

本人谨代表董事会，欣然提呈中闽百汇零售集团有限公司2025年7月1日至2026年6月30日财政年度（“2026财年”）的年度报告。

集团在2026财年取得良好的业绩，税后利润及每股盈利均增长16.7%，分别达到人民币4990万元及人民币26.0分。业绩增长主要由我们的奥特莱斯商场稳健的盈利表现所带动。2026财年，集团经营活动产生的现金净额大幅增加至人民币1.353亿元，而2025财年为人民币4600万元。鉴于集团的良好表现，董事会建议派发每股新加坡元1分的股息。

我们的奥特莱斯业务继续保持良好表现。长沙砂之船（中闽百汇）奥特莱斯（“CSO”）的税后利润贡献增长10.2%，至2026财年的人民币3460万元。随着资产提升计划持续推进，CSO仍是集团盈利的重要来源之一。

无锡悦尚奥特莱斯（“YSO”）进入实现正盈利的第二年，于2026财年为集团贡献人民币2230万元，而2025财年为人民币400万元。于2026年1月开业的吕梁悦尚时光里，在2026财年为集团带来人民币160万元的亏损，而上一财年则尚未产生贡献。

集团在福建的门店于2026财年录得人民币410万元的税前亏损，而2025财年则录得人民币1690万元的税前利润。2025财年的业绩包括因门店关闭而终止确认使用权资产所确认的人民币1970万元收益。若不计入该等收益，福建门店于2025财年实际上录得人民币280万元的税前亏损。尽管如此，福建门店于2026财年的经营表现仍较2025财年有所减弱，收入下降3.3%至人民币9.197亿元，毛利下降10.9%至人民币1.968亿元，毛利率亦由23.2%下降至21.4%。

2026财年，集团推出全新的超市品牌百汇优淘，该品牌由集团全资拥有。百汇优淘超市定位为社区型门店，单店面积约800至1,000平方米。截至目前，集团已开设三家百汇优淘超市，并预计未来将继续开设更多门店。

根据中国国家统计局的数据，中国经济继续保持温和增长。2026年上半年，中国国内生产总值同比增长4.7%，扣除汽车以外的社会消费品零售总额增长2.8%。在零售行业中，超市及百货店销售额分别增长3.8%及2.1%。

集团将继续在中国各地审慎推进精选的商场项目，同时持续提升福建门店的运营效率及盈利能力。零售市场仍然充满竞争且不断变化，但我们有信心凭借灵活应变的能力，持续提升资产价值以及不断优化运营，实现可持续增长。

本人谨代表董事会，衷心感谢各利益相关者，尤其是股东，一直以来对集团的信任与支持。

2026年10月12日