Pacific SOGO Department Store 2021 Shareholders’ Meeting.

        Pacific Chongguang department store (hereinafter referred to as SOGO) held the 2021 regular meeting of shareholders on July 21, at which the operation overview, operation performance and future prospect of the previous year were announced. Novel coronavirus pneumonia affected the global economy in the first half of 2020, and the economic activities almost completely stopped. In the second half of the year, the SOGO anniversary sales volume was written down by the government's revitalization ticket and digital marketing incentives. The annual turnover was 41 billion 840 million yuan, the annual net profit before tax grew by 27.7%, reaching 1 billion 210 million yuan, and the cash dividend was 1.1 yuan, which was 5 times larger than that of last year's 0.2 yuan. The participating shareholders highly affirmed the excellent performance of the management team of Taibai company.

        In 2020, affected by the epidemic, the department store industry showed negative growth in the first two quarters. However, WHF's work at home style stimulated the vigorous development of stay at home economy, and the demand for household appliances, 3C products, massage chairs, maintenance and cosmetics increased. Although the sales of men's and women's clothing decreased by an average of 10%, the high-quality goods increased by 12% due to the inability to consume abroad.

        In line with various epidemic prevention standards, SOGO comprehensively improves online e-commerce shopping and meal delivery services, and improves the environmental transformation of stores, strengthens commodity power, introduces and adjusts new brands, totaling 543 cabinets, accounting for about 22.6% of the total brands.

        In addition, SOGO also used new technologies such as app, digital marketing and mobile payment, and under the joint promotion of store gifts and Hello Kitty's popular products, last year's anniversary set a record for more than a decade. All seven branches in Taiwan grew and exceeded the standard, with an overall performance of 11.3 billion yuan and a growth rate of 8%.

        Since the first year of SOGO CSR in 2015, e (environment), G (Corporate Governance) and S (Society) have been deeply cultivated for a long time. So far, they have won nearly 100 domestic and foreign awards and international certification. Last year, in Asia responsible entrepreneurship awards, SOGO won the green leadership and human investment award and became the only double happiness winner of department stores. At the beginning of this year, he took the lead in the industry again and won the model award of "annual survey - service industry group" of vision magazine Corporate Social Responsibility Award. He is not only the only winner in the department store industry, but also has been awarded the award for three consecutive years!

        During the epidemic period, SOGO launched the "Vision Project" to cultivate potential talents and develop successors. The goal is to "create a retail benchmarking enterprise that keeps pace with the times, is friendly and good together, and provides the public with an all-round fashion life experience." Accelerate the pace of digital transformation and respond to the challenges of the future market with a close virtual and real integration strategy.

        Sophia C.W. Huang Chairman said that the shadow of COVID-19 in 2021 is still in fact. When people are unable to go abroad, they will still focus on domestic consumption, so SOGO will still actively participate in the improvement of shopping environment, import new products, upgrade services and expand digital marketing. Implement the strategy of "the largest store", build Fuxing store as the highest performing store in the north, and Zhongxiao store as a large store with strong affinity.

        The brand power of Pacific SOGO Department Store is deeply trusted and loved by customers. Sophia C.W. Huang chairman stressed that it will prepare for future innovation and growth with "forward-looking layout" and hope to become the most competitive enterprise.

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