Performance of C.banner International 2010-2013

C.banner International's Annual Reports (available here) for the last few years show very strong performance in 2011, followed by good growth in 2012. However, 2013 seemed to be the company's slowest year, with a smaller profit posted than in previous recent reports. 

The Company's Consolidated Statement of Changes in Equity showed a massive increase in equity for the period between January 1, 2010 and December 31, 2013- from RMB 642,086,000 to RMB 1,846,868,000. C.banner's biggest increase in equity was during 2011, when they listed with the Hong Kong Stock Exchange. This followed their removal from the Singapore Exchange in 2010. Their move to the Hong Kong Exchange saw an increase in equity of RMB 564,765,000 generated from the issuance of new shares, at a cost of RMB 29,078,000. 

C.banner's Consolidated Statement of Financial Position, or Balance Sheet, shows a steady increase in non-current assets each year, of around RMB 40,000,000. Although C.banner saw a large increase of current assets in 2011 and 2012, 2013 had a much more modest growth. 

The Consolidated Statement of Profit or Loss and Other Comprehensive Income shows large increases in revenue between 2010-2011 and 2011-2012, but a decrease in revenue between 2012 and 2013. This is despite increases in cost of sales and distribution and selling expenses. A growth in net profit was seen from 2010-2012, however 2013 saw a decrease of just over RMB 90,000,000. The company is still growing, increasing its equity by over RMB 140,000,000 in 2013. C.banner states in their 2013 Annual Report that a sluggish global economy resulting in low consumer confidence is responsible for this. They explain that they closed some under-performing stores during the year, while expanding more successful stores. It will be interesting to see whether the Annual Report for 2014 reflects this.