About NWDS CHINA Company

Established in 1993, New World Department Store China Limited (Hong Kong stock code: 825) is the retail flagship of New World Development Co., Ltd. (Hong Kong stock code: 17) in mainland China, and has now developed into a retail group integrating department stores and shopping centers. In 2007, the Group was listed on the main board of the Hong Kong Stock Exchange Limited. As of December 31, 2023, New World Development Co., Ltd. held approximately 75% of the Group's shares. retail network The Group has adopted the development strategy of “one city, multiple stores” and a “radiant city” to expand its business network in mainland China in an orderly manner. On December 31, 2023, 15 of the department stores and shopping malls operated by the Group were named “New World”, while the other 7 branches in Shanghai were named after “Paris Spring”. The total floor area was approximately 922,900 square meters, covering 12 major locations in mainland China, including Beijing, Shanghai, Chongqing, Wuhan, Nanjing, Tianjin, Changsha, Zhengzhou, Yantai, Shenyang, Lanzhou and Mianyang. Organizational structure The Group has an experienced and innovative management team. It uses a three-tier structure to practice efficient management. The headquarters directly manages the two major operating regions, and each region manages the operation of its stores to achieve resource sharing within the region and exert synergy effects. When formulating professional strategies such as investment promotion and marketing, the Group implements a two-tier management mechanism. The headquarters formulates macro-enterprise strategies for the Group's positioning and policies, allocates resources for strategic layout, and then hands over the corresponding goals to the branches to adjust and implement according to local market conditions to ensure the implementation of the Group's strategy. Business operations The Group actively promotes store classification management and adopts the “one store, one policy” business strategy to encourage branches to adopt different strategies in the face of the market and build core competitiveness through diversified business models. The Group's income mainly comes from rental income, counter sales commission income, sales of proprietary products, and interest income from financial leases as lessors. In addition to the core department store business, the Group simultaneously develops its own businesses, such as “New World Supermarket” and LOL (Love · Original · Life) original lifestyle concept stores, to achieve differentiated management. Talent development The Group regards employees as a valuable resource. By providing different incentive programs, training plans and development opportunities, the Group enhances team enthusiasm, innovation and sense of belonging, thereby encouraging and nurturing outstanding talents and jointly implementing the Group's vision and mission. As of December 31, 2023, the Group had a total of 2,011 employees.