Revenue increased by 19.7% year-on-year, and same-store growth by 9.2%:

Same-store sales rose 9.2% in the six months ended December 31, 2012, while revenue rose 19.7% to HK $2.03 billion from HK $1.695 billion a year earlier. Of this total, over-the-counter sales commission income was 1.33 billion yuan, up 11.4% from the same period last year; goods sales-self-sales was 440 million yuan, up 38.0% from the same period last year; management fees were 14 million yuan, down slightly from the same period last year; and rental income was 250 million yuan, up 47.2% from the same period last year. During the period, the company made a profit of HK $320 million (excluding other losses / gains and changes in the fair value of investment properties), representing an increase of 11.6 per cent over the same period last year. Realized earnings per share of HK $0.20, with an interim dividend of HK $165 million, or HK $0.098 per share, unchanged from the same period last year.

Over-the-counter sales commission is the main income, and property investment has increased significantly compared with the same period last year:

From the perspective of the division, as of December 31, 2012, the company's department store business income was HK $1.97 billion, an increase of 18.1% over the same period last year, and property investment income was 57.04 million yuan, an increase of 121.2% over the same period last year. During the period, the segment performance of the department store business was HK $340 million, down 20.4 per cent from a year earlier, while the performance of the property investment segment was HK $45.24 million, up 103.8 per cent from a year earlier. In the department store business, the income is mainly from over-the-counter sales commission, accounting for 65.6% of the total income; self-employed goods sales and rental income account for 21.5% and 12.2% of the total income respectively; and management fee income accounts for 0.7% of the total income.

Mainly self-owned stores, the northern region accounts for 49.0% of the revenue:

In the first half of fiscal year 2013, the company had 41 department stores with a total floor area of 1.49 million square meters and an operating floor area of 1.17 million square meters, distributed in three operating areas: the North District, the Southeast District and the Central and Western District, covering 19 major cities throughout the country. Including Wuhan, Shenyang, Harbin, Tianjin, Ningbo, Beijing, Shanghai, Dalian, Kunming, Lanzhou, Changsha, Chongqing, Chengdu, Anshan, Nanjing, Zhengzhou, Jinyang, Yancheng and Xi'an. Among them, 37 are own stores and 4 are managed stores. Among them, the northern region brought the largest income to the group during the period, accounting for 49.0% of the total revenue, followed by the southeast and central and western districts, accounting for 25.8% and 25.2% respectively. Outlook for the future:

In the future, the Group will continue to implement the image innovation plan, divide the national department stores into "Life Pavilion" and "Fashion Pavilion", optimize the operating structure and effectively control operating costs. The Group plans to enter Yantai City and open its own stores in fiscal year 2014 and two stores in Hengyang City and Putuo District of Shanghai in fiscal year 2015. In fiscal year 2016, the company plans to increase the total floor area of its own stores to 2 million square meters by opening new stores, mergers and acquisitions and expansion of original stores. Second-and third-tier cities will become the main expansion targets of the group.