DOCSLIB.ORG

眾安在綫財產保險股份有限公司 Zhongan Online P & C

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
眾安在綫財產保險股份有限公司 Zhongan Online P & C Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 眾安在綫財產保險股份有限公司 ZHONGAN ONLINE P & C INSURANCE CO., LTD.* (A joint stock limited company incorporated in the People’s Republic of China with limited liability and carrying on business in Hong Kong as “ZA Online Fintech P & C”) (Stock Code: 6060) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED JUNE 30, 2020 The board of directors (the “Board”) of ZhongAn Online P & C Insurance Co., Ltd. (the “Company”) hereby announces the unaudited interim results of the Company and its subsidiaries (the “Group”) for the six months ended June 30, 2020, together with the comparative figures for the six months ended June 30, 2019. This announcement, containing the full text of the 2020 Interim Report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in relation to information to accompany preliminary announcement of interim results. By Order of the Board ZhongAn Online P & C Insurance Co., Ltd. Yaping Ou Chairman Shanghai, the PRC, August 26, 2020 As at the date of this announcement, the board of directors of the Company comprises three executive directors, namely Mr. Yaping Ou (chairman), Mr. Jin Chen and Mr. Hugo Jin Yi Ou, four non-executive directors, namely Mr. Xinyi Han, Mr. Liangxun Shi, Mr. Ming Yin and Mr. Weibiao Zhan**, and five independent non-executive directors, namely Mr. Shuang Zhang, Ms. Hui Chen, Mr. Yifan Li, Mr. Ying Wu and Mr. Wei Ou. * For identification purposes only and carrying on business in Hong Kong as “ZA Online Fintech P & C” ** Mr. Weibiao Zhan shall be a non-executive director of the Company upon his qualification as a director of the Company being approved by the China Banking and Insurance Regulatory Commission. Contents Corporate Information 2 Management Discussion and Analysis 3 Disclosure of Interest 28 Other Information 32 Report on Review of Interim Financial 34 Information Interim Condensed Consolidated 35 Statement of Comprehensive Income Interim Condensed Consolidated 37 Balance Sheet Interim Condensed Consolidated 38 Statement of Changes in Equity Interim Condensed Consolidated 39 Statement of Cash Flows Notes to the Interim Condensed 40 Consolidated Financial Information Definitions 75 Glossary 78 ZhongAn Online P & C Insurance Co., Ltd. / Interim Report 2020 2 Corporate Information Board of Directors Headquarters and Principal Executive Directors Place of Business in the PRC Yaping Ou (Chairman of the Board) 219 Yuanmingyuan Road Jin Chen Shanghai Hugo Jin Yi Ou PRC Non-Executive Directors Xinyi Han Registered Office Xiaoming Hu* 4–5/F, Associate Mission Building Liangxun Shi 169 Yuanmingyuan Road Ming Yin ** Shanghai Weibiao Zhan PRC Independent Non-Executive Directors Shuang Zhang Principal Place of Business in Hui Chen Hong Kong Yifan Li Ying Wu Level 54, Hopewell Centre Wei Ou 183 Queen’s Road East Hong Kong Supervisors Yuping Wen H Share Registrar Baoyan Gan Tricor Investor Services Limited Haijiao Liu Level 54, Hopewell Centre 183 Queen’s Road East Audit Committee Hong Kong Hui Chen (Chairman) Yifan Li Joint Company Secretaries Liangxun Shi Yongbo Zhang Risk Management Committee Ella Wai Yee Wong Yifan Li (Chairman) Xiaoming Hu* Authorized Representatives Ming Yin Jin Chen/Hugo Jin Yi Ou (effective on August 26, 2020) Ella Wai Yee Wong Remuneration and Nomination Committee Legal Advisors Shuang Zhang (Chairman) As to Hong Kong and U.S. laws: Yaping Ou Skadden, Arps, Slate, Meagher & Flom Ying Wu As to PRC law: Investment Strategy Committee CM Law Firm Jin Chen (Chairman) Auditors Hugo Jin Yi Ou Xinyi Han PricewaterhouseCoopers Weibiao Zhan** Certified Public Accountants and Registered PIE Auditor Related Transactions Control Principal Banks Committee ICBC Shanghai Branch Sales Department Wei Ou (Chairman) CITIC Bank Shanghai Branch Sales Department Hui Chen Yifan Li Listing Information Consumer Rights Protection Stock Code: 6060 Committee Company Website Ying Wu (Chairman) www.zhongan.com Hugo Jin Yi Ou Liangxun Shi * Resigned on August 26, 2020. ** Mr. Weibiao Zhan shall be a non-executive director of the Company and member of the investment strategy committee of the Company upon his qualification as a director of the Company being approved by the CBIRC. 3 ZhongAn Online P & C Insurance Co., Ltd. / Interim Report 2020 Management Discussion and Analysis1 Business Review customers a smooth and pleasurable purchasing experience, strengthening our Insuretech brand Business Development Overview recognition, leading to a 138.2% year-on-year growth of GWP from the Personal Clinic Policy Series within the As the first Internet-based Insuretech company in China, health ecosystem in the first half of the year. ZhongAn upholds the mission of “empowering the finance business with technologies and providing insurance services The rapid development of the e-commerce industry with a caring hand”. We embrace the two-winged growth during the same period also led to a 40.4% growth of strategy of “Insurance + Technology”, and adhere to integrating GWP from our lifestyle consumption ecosystem. technologies into the whole insurance value chain. Through (2) Empowering our proprietary platforms with platforms operated by our ecosystem partners and our technologies to further explore the potential of the proprietary platforms, we aim to build ecosystems around aforementioned markets customers’ online activities and offer a comprehensive product suite to meet their diversified protection needs, thus As we continued to build out the marketing, customer revolutionizing the insurance value chain with technologies. acquisition and service capacities of our proprietary Meanwhile, we consistently demonstrate and enhance our platforms, GWP generated through our proprietary technology strength in the operation of our insurance business, platforms reached RMB1,048.7 million in the first and we aim to enable the online insurance industry chain by half of 2020, representing a year-on-year increase of exporting Insuretech, facilitating the digital transformation of approximately 8.1 times, and its percentage contribution industry players across the world. to GWP increased to approximately 16% (first half of 2019: approximately 2%). We served 1.66 million insured In the first half of 2020, we provided services to approximately customers for the first half of 2020. In particular, the 400 million insured customers, among which approximately Personal Clinic Policy Series contributed approximately 55% were under the age of 35 with insurance policies per 88% of GWP generated through our proprietary platform, capita of 9.0 and premiums contribution per capita of RMB16.9 and accounted for approximately 34% of total Personal (first half of 2019: 348 million insured customers with Clinic Policy Series premiums (first half of 2019: insurance policies per capita of 9.6 and premiums contribution approximately 11%). per capita of RMB16.9). Using original promotion materials distributed through In the first half of 2020, ZhongAn continued to pursue growth our proprietary platforms (including APP, mini programs, with quality and recorded a GWP of RMB6,766.5 million, official websites), we constantly carried out market representing a year-on-year increase of 14.7%. Our business education under new scenarios to enhance users’ structure has been continuously optimizing, driven by the insurance awareness and attract users to purchase accelerated growth of our health and lifestyle consumption insurance products through our proprietary platforms. ecosystems. In the first half of 2020, GWP from the health Leveraging the self-developed intelligent marketing ecosystem grew by 115.6% year-on-year, now contributing to system, we apply user profiles to achieve targeted 45% of GWP (first half of 2019: 24%). Meanwhile, GWP from the marketing and customer reach in new scenarios, and lifestyle consumption ecosystem grew by 40.4% year-on-year, implement closed-loop real-time monitoring of the now accounting for 28% of GWP (first half of 2019: 23%). entire marketing process to continuously optimize our The rapid growth of our health and lifestyle consumption marketing efforts. ecosystem segments and the constant optimization of our (3) Enhancing the closed-loop health ecosystem to provide business structure were driven by the following forces: inclusive medical treatment, deeply integrating (1) Thanks to the convenience of our online services, we insurance protection and medical services to effectively captured the rapid growth in consumer differentiate ZhongAn’s competitive advantage demand for insurance fueled by the pandemic By deeply integrating insurance protection and medical The outbreak of COVID-19 at the beginning of the year services, ZhongAn successfully established a closed- not only significantly raised consumer health insurance loop health ecosystem, providing customers with an protection awareness, but also further shifted their one-stop-shop service experience, which is also our insurance purchasing activities from offline to online. starting point for enhancing brand recognition and Leveraging our mature Internet model, ZhongAn has competitive differentiation amid rapidly growing
Load more

Recommended publications
  • 眾安在綫財產保險股份有限公司 Zhongan Online P & C
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 眾安在綫財產保險股份有限公司 ZHONGAN ONLINE P & C INSURANCE CO., LTD.* (A joint stock limited company incorporated in the People’s Republic of China with limited liability and carrying on business in Hong Kong as “ZA Online Fintech P & C”) (Stock Code: 6060) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED JUNE 30, 2018 The board of directors (the “Board”) of ZhongAn Online P & C Insurance Co., Ltd. (the “Company”) hereby announces the unaudited interim results of the Company and its subsidiaries (the “Group”) for the six months ended June 30, 2018. This announcement, containing the full text of the 2018 Interim Report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in relation to information to accompany preliminary announcement of interim results. By Order of the Board ZhongAn Online P & C Insurance Co., Ltd. Jin Chen Chief Executive Officer Hong Kong, August 27, 2018 – 1 – As at the date of this announcement, the Board comprises three executive directors, namely Mr. Yaping Ou (chairman), Mr. Jin Chen (chief executive officer) and Mr. Hugo Jin Yi Ou; five non-executive directors, namely Mr. Xinyi Han, Mr. Jimmy Chi Ming Lai, Mr.
    [Show full text]
  • 眾安在綫財產保險股份有限公司 Zhongan Online
    The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Post Hearing Information Pack, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Post Hearing Information Pack. Post Hearing Information Pack of 眾安在綫財產保險股份有限公司 ZHONGAN ONLINE P&C INSURANCE CO., LTD.* (A joint stock limited company incorporated in and carrying on business in Hong Kong as “ZA Online Fintech P & C” the People’s Republic of China with limited liability) WARNING The publication of this Post Hearing Information Pack is required by The Stock Exchange of Hong Kong Limited (the “Exchange”) the Securities and Futures Commission (the “Commission”) solely for the purpose of providing information to the public in Hong Kong. This Post Hearing Information Pack is in draft form. The information contained in it is incomplete and is subject to change which can be material. By viewing this document, you acknowledge, accept and agree with ZhongAn Online P & C Insurance Co., Ltd. (the “Company”), its joint sponsors, advisors or member of the underwriting syndicate that: (a) this document is only for the purpose of providing information about the Company to the public in Hong Kong and not for any other purposes. No investment decision should be based on the information contained in this document; (b) the publication of this document or supplemental, revised or replacement pages on the Exchange’s website does not give rise to any obligation of the Company, its joint sponsors, advisors or members of the underwriting syndicate to proceed with an offering in Hong Kong or any other jurisdiction.
    [Show full text]
  • What's Powering China's Market for Luxury Goods?
    What’s Powering China’s Market for Luxury Goods? Sales are growing at a healthy 20% rate, but not all brands are celebrating. This report was authored by Bruno Lannes, a Bain & Company partner based in Shanghai and a member of the firm’s Retail and Consumer Products practices. Copyright © 2019 Bain & Company, Inc. All rights reserved. What’s Powering China’s Market for Luxury Goods? At a Glance It was the second year in a row of 20% growth for luxury goods in China. Brands benefited from repatriated purchases, a focus on millennials, increased digitalization and China’s expanding middle class. Although growth was robust overall, some companies outperformed with growth rates in excess of 25%, while others lagged with less than 10% growth. The winners’ strategies offer clear lessons for the future. China’s luxury goods market is humming along nicely, with a second straight year of 20% growth in 2018 (see Figure 1). Think of it as a powerful machine running on four engines operating in perfect alignment. More than 70% of millennials have a positive financial outlook; 81% of them expect their income to increase. Engine 1: Repatriation The Chinese government’s reduction in import duties and stricter controls over gray markets— combined with brands’ efforts to narrow the price gap with overseas markets—have led more Chi- nese consumers to make their luxury purchases in China, instead of traveling to previous bargain locales such as Hong Kong, Seoul, Tokyo and cities in Europe. Chinese consumers made 27% of their luxury purchases in China in 2018, up from 23% in 2015, and we anticipate that this share will increase to 50% by 2025 (see Figure 2).
    [Show full text]
  • Special 20160324-P1+4.Indd
    Ce supplément est produit par le China Daily de la République populaire de Chine, qui assume l’entière responsabilité de son contenu. Communiqué CHINAWATCH Jeudi 24 mars 2016 LE FIGARO CHINA DAILY Le marché du luxe face à une Le choix des 83%-c’est la proportion des consommateurs- marques de luxe en faveur de marques qui ont fermé au clientèle plus exigeante exclusives, haut-de-gamme, moins l’un de leurs surtout les marques de magasins en Chine produits sur-mesure qui en 2015 Les Chinois achètent des articles de mode dans connaîtront une forte 106,4 milliards d’euros - croissance du fait que les Les acquisitions- consommateurs chinois de le monde entier, et les maisons locales font leur c’est le montant des c’est la voie préférée luxe recherchent la qualité, des marques de luxe, y articles de luxe achetés par la finition et la tradition 20%-c’est la part des marché en quête de marques pour se développer. les consommateurs chinois produits et des services compris les plus grandes, pour en 2015, soit une hausse de sur mesure sur le marché Reportage de Xu Junqian. pénétrer sur de 9% en glissement annuel chinois du luxe en 2015, La roulette de la en nette augmentation nouveaux marchés distribution -les points cette année de vente exclusifs défieront Les prises de algré des pertes en 2015 pour les grands magasins cette la deuxième année consécu- année, obligeant ces derniers participation- tive, les distributeurs, les in- à orir une valeur ajoutée à une alternative vestisseurs et les spécialistes leurs consommateurs en leur aux acquisitions pour s’introduire du secteur misent sur l’avenir proposant de vivre la mode autrement sur de nouveaux Mprometteur de l’industrie du luxe chinoise, marchés portée par la dynamique d’une croissance à deux chiff res au cours des dernières années.
    [Show full text]
  • Annual Report 2020 Five-Year Financial Summary
    CONTENTS Five-Year Financial Summary 2 Results Summary 3 Message from the Chairman and CEO 5 Corporate Milestone 10 Management Discussion and Analysis 12 Directors, Supervisors and Senior Management 39 Corporate Governance Report 46 Report of Directors 59 Report of the Supervisory Committee 78 Environmental, Social and Governance (ESG) Report 80 Independent Auditor’s Report 113 Definitions 215 Glossary 218 Corporate Information 219 02 ZhongAn Online P & C Insurance Co., Ltd. / Annual Report 2020 Five-Year Financial Summary AUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (RMB’000) Y2020 Y2019 Y2018 Y2017 Y2016 Gross written premiums 16,708,504 14,629,589 11,255,718 5,954,475 3,408,048 Net profit/(loss) for the year 254,380 (638,645) (1,796,718) (996,356) 9,372 Net profit/(loss) attributable to owners of the parent 553,786 (454,101) (1,743,895) (997,250) 9,372 Basic earnings/(loss) per share (in RMB) 0.38 (0.31) (1.19) (0.77) 0.01 Total assets 45,673,436 30,907,575 26,341,096 21,149,492 9,332,223 Total liabilities 28,280,101 14,402,044 9,866,423 3,878,796 2,473,251 Total equity 17,393,335 16,505,531 16,474,673 17,270,696 6,858,972 Equity attributable to equity owners of the parent 15,705,350 14,911,655 15,432,039 17,126,913 6,858,972 Combined ratio (%) 102.5% 113.3% 120.9% 133.1% 104.7% Comprehensive solvency margin ratio (%) 560% 502% 600% 1,178% 722% ZhongAn Online P & C Insurance Co., Ltd.
    [Show full text]
  • Chinese Companies Listed on Major U.S. Stock Exchanges
    Last updated: October 2, 2020 Chinese Companies Listed on Major U.S. Stock Exchanges This table includes Chinese companies listed on the NASDAQ, New York Stock Exchange, and NYSE American, the three largest U.S. exchanges.1 As of October 2, 2020, there were 217 Chinese companies listed on these U.S. exchanges with a total market capitalization of $2.2 trillion.2 3 Companies are arranged by the size of their market cap. There are 13 national- level Chinese state-owned enterprises (SOEs) listed on the three major U.S. exchanges. In the list below, SOEs are marked with an asterisk (*) next to the stock symbol.4 This list of Chinese companies was compiled using information from the New York Stock Exchange, NASDAQ, commercial investment databases, and the Public Company Accounting Oversight Board (PCAOB). 5 NASDAQ information is current as of February 25, 2019; NASDAQ no longer publicly provides a centralized listing identifying foreign-headquartered companies. For the purposes of this table, a company is considered “Chinese” if: (1) it has been identified as being from the People’s Republic of China (PRC) by the relevant stock exchange; or, (2) it lists a PRC address as its principal executive office in filings with U.S. Securities and Exchange Commission. Of the Chinese companies that list on the U.S. stock exchanges using offshore corporate entities, some are not transparent regarding the primary nationality or location of their headquarters, parent company or executive offices. In other words, some companies which rely on offshore registration may hide or not identify their primary Chinese corporate domicile in their listing information.
    [Show full text]
  • Secoo Holding Ltd Form 6-K Current Event Report Filed 2020-06-22
    SECURITIES AND EXCHANGE COMMISSION FORM 6-K Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 Amendments Filing Date: 2020-06-22 | Period of Report: 2020-06-30 SEC Accession No. 0001104659-20-075409 (HTML Version on secdatabase.com) FILER Secoo Holding Ltd Mailing Address Business Address ROOM 1503, BUILDING C, ROOM 1503, BUILDING C, CIK:1633441| IRS No.: 000000000 | State of Incorp.:E9 | Fiscal Year End: 1231 GALAXY SOHO GALAXY SOHO Type: 6-K | Act: 34 | File No.: 001-38201 | Film No.: 20977087 CHAONEI STREET, CHAONEI STREET, SIC: 5990 Retail stores, nec DONGCHENG DISTRICT DONGCHENG DISTRICT BEIJING F4 100010 BEIJING F4 100010 86 10 6588-0135 Copyright © 2020 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of June 2020 Commission File Number: 001-38201 SECOO HOLDING LIMITED Secoo Tower Sanlitun Road A, No.3 Courtyard Building 2 Chaoyang District, Beijing 100027 The Peoples Republic of China +86 10 6588-0135 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F x Form 40-F o Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o Copyright © 2020 www.secdatabase.com.
    [Show full text]
  • Chinese Companies Listed on Major U.S. Stock Exchanges
    Last updated: May 5, 2021 Chinese Companies Listed on Major U.S. Stock Exchanges This table includes Chinese companies listed on the NASDAQ, New York Stock Exchange, and NYSE American, the three largest U.S. exchanges. i As of May 5, 2021, there were 248 Chinese companies listed on these U.S. exchanges with a total market capitalization of $2.1 trillion. On October 2, 2020, when this table was last updated, there were 217 companies with a total market capitalization of $2.2 trillion. In the list below, newly added companies are marked with a section symbol (§) next to the stock symbol. ii Companies are arranged by the size of their market cap. There are eight national-level Chinese state-owned enterprises (SOEs) listed on the three major U.S. exchanges. In the list below, SOEs are marked with an asterisk (*) next to the stock symbol. iii Since this table was last updated in October 2020, 17 Chinese companies have delisted. Two companies currently trade over the counter: Kingold Jewelry (KGJI, $3 million market cap) and state-owned Guangshen Railway (GSHHY, $2,256 million market cap). The 17 delisted companies also include four companies targeted by the Executive Order 13959 (“Addressing the Threat from Securities Investments That Finance Communist Chinese Military Companies”), which prohibited investment in Communist Chinese Military Companies. These are: China Unicom, China Telecom, China Mobile, and CNOOC Limited. In addition, Semiconductor Manufacturing International Corporation (SMIC) stopped trading over the counter as a result of the order.1 The remaining U.S.-listed company subject to the order is Luokung Technology Corp.
    [Show full text]
  • Luxury Jewellery in the Chinese Digital Age
    Master’s Degree Programme in Languages, Economics and Institutions of Asia and North Africa Second Cycle (D.M. 270/2004) Final Thesis Luxury Jewellery in the Chinese Digital Age Online strategies for selling high-end jewellery in the Chinese Market Supervisor Ch. Prof. Daniela Rossi Assistant supervisor Ch. Prof. Franco Gatti Graduand Giulia Armano Matriculation number 856165 Academic Year 2019 / 2020 INDEX ................................................................................................................................... 3 INTRODUCTION .................................................................................................................. 6 CHAPTER 1. THE LUXURY INDUSTRY: BETWEEN TRADITION AND INNOVATION .................. 9 1.1 LUXURY AS CONCEPT ............................................................................................................ 9 1.2 LUXURY AS PRODUCT .......................................................................................................... 13 1.3 LUXURY AS BUSINESS .......................................................................................................... 13 1.4 LUXURY AS CULTURE ........................................................................................................... 17 1.5 LUXURY AS CUSTOMER ........................................................................................................ 19 1.6 LUXURY AS MARKET ........................................................................................................... 23 1.6.1
    [Show full text]
  • Luxury Goods
    LUXURY GOODS China Online Boom: ...yet to come for Ostrich Luxury Brands 21 FEBRUARY 2017 at 05:29* We go back to surveying how western luxury goods brands are faring in the Chinese digital market, following up on our two previous reports: China Online Boom - No Country for Ostrich Brands; Best Luca Solca of: China Online Boom: Ostriches are lifting their heads from the sand. (+44) 203 430 8503 [email protected] China is the most advanced digital market in the world Melania Grippo Digital payment penetration in China is 50 times higher than in the USA, largely still relying on (+39) 02 89 63 1724 [email protected] plastic. FMCG online penetration has reached the mid-teens. Big-box retailing in China makes shopping malls and department stores in the USA look like the garden of Eden. Guido Lucarelli (+39) 02 89 63 1726 [email protected] Western luxury brands in China are still lagging behind Only 21 of the 34 brands we have analysed operate an e-commerce mono-brand website in China. Even more remarkable is that the largest brands, such as LV, Hermès, Gucci, Prada, Ralph Lauren and Swatch, do not have an ecommerce mono-brand site. For comparison, 31 out of 32 brands Specialist sales surveyed operate an e-commerce mono-brand website in the USA, and 30 out of 32 in the UK. David Tovar Digital proficiency in China is 46% – against 55% in our latest digital competitive map (DCM). (+44) 203 430 8677 Burberry, Michael Kors and Cartier are the only exceptions Contactlab Burberry stands out in China as strong leader on the Strategic Reach axis for exploiting all possible Marco Pozzi (+39) 02 28 31 181 ecommerce channels as well as on the Digital Customer Experience Axis, excelling in customer [email protected] service and style advisory.
    [Show full text]
  • Deloitte-SECOO CIIE Blue Paper 2019 Analysis of Luxury Goods Consumption in China's Lower-Tier Cities Deloitte-SECOO CIIE Blue Paper 2019 | Preface
    Deloitte-SECOO CIIE Blue Paper 2019 Analysis of Luxury Goods Consumption in China's Lower-tier Cities Deloitte-SECOO CIIE Blue Paper 2019 | Preface Preface After several years of downturns, areas, with consumption being No. e-commerce platforms and social global luxury goods industry has 1 driving force of economic growth platforms, the digital transformation gradually trended upwards since 2017. for five consecutive years. The luxury of luxury goods primarily shows at In recent years, China has played a goods market expands rapidly thanks the enterprise level. In other words, leading role in the growth of global to favourable government policies, the through digital technology, businesses luxury goods market. In 2018, China unleashed consumption potential in should continue to transform and spent $145.7 billion on luxury goods, lower-tier cities and the application decide on end-to-end supply chain, accounting for a whopping 42% of the and promotion of new technologies. In product supply, portfolio structure total global luxury goods market which 2018, online consumption growth rate and customer delivery logistics and to reached about $347 billion. China's of luxury goods in China reached 37%, introduce new customer experience, 2018 spending increased 7% over the accounting for nearly 14% of the total process and system based on new previous year. domestic market. infrastructure that integrates digital technology. As personal income growth rate Luxury brands have scaled up to the exceeds the overall economic growth application stage from the initial digital Our research reveals main trends of rate in China, the income gap keeps transformation phase. In addition to luxury goods consumption in markets narrowing between urban and rural marketing strategy through online across China's lower-tier cities: Deloitte-SECOO CIIE Blue Paper 2019 | Preface • First-tier cities have the lion's share but • Rejuvenation, male consumers and mobile lower-tier cities catch up fast.
    [Show full text]
  • 眾安在綫財產保險股份有限公司 Zhongan Online P & C Insurance Co., Ltd.*
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 眾安在綫財產保險股份有限公司 ZHONGAN ONLINE P & C INSURANCE CO., LTD.* (A joint stock limited company incorporated in the People’s Republic of China with limited liability and carrying on business in Hong Kong as “ZA Online Fintech P & C”) (Stock Code: 6060) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED JUNE 30, 2019 The board of directors (the “Board”) of ZhongAn Online P & C Insurance Co., Ltd. (the “Company”) hereby announces the unaudited interim results of the Company and its subsidiaries (the “Group”) for the six months ended June 30, 2019, together with the comparative figures for the six months ended June 30, 2018. This announcement, containing the full text of the 2019 Interim Report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in relation to information to accompany preliminary announcement of interim results. By Order of the Board ZhongAn Online P & C Insurance Co., Ltd. Chairman Yaping Ou Shanghai, the PRC, August 26, 2019 As at the date of this announcement, the Board comprises three executive Directors, namely Mr. Yaping Ou (chairman), Mr. Jin Chen and Mr. Hugo Jin Yi Ou; five non-executive Directors, namely Mr.
    [Show full text]