11-08-2018, 09:36 AM
The “China Wholesale Model” deliberately created disappeared in thin air just like that …….................................Ha-ha!
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FY2017 Results Announcement:
“As mentioned previously, the Group is in preparation for the conversion of the Export segment to Direct Selling”………………..(Section 8 ; page 16)
“As previously announced, conversion of the Export business to Direct Selling shall be implemented in phases. Management expects first phase conversion to commence during the first half of FY2018. Revenue from the Export Segment may decline during the course of conversion, as the Group will concurrently export to the Export Agent and our China subsidiary;”…………….(Section 10 ; page 19)
“For 1H2018, exports to China may be categorised as China Wholesale as we will be importing China orders through our China subsidiary, Best World (China) Pharmaceutical Co., Ltd (formerly known as Best World (Zhejiang) Pharmaceutical Co., Ltd.); “…………………….(Section 10 ; page 19)
AR2017 page 12:
“For FY2018, while the Group’s China management continue to work with our distributors to set up more BWL Experience Centres in various cities located throughout China where we already have established good market presence, we will also progressively convert our current export model in China to a new business segment, otherwise known as China Wholesale. Given that direct selling business model in China is unique to the country, we deliberately created this segment to differentiate it from the Direct Selling we practice in all other markets”
1QFY2018 Results Announcement:
“In line with management’s commentary in Section 10 of the Group’s last results announcement, Group Revenue for 1Q2018 was 43.3% lower compared to the same period last year, primarily due to minimal export to China as the Group commenced its conversion from the Export segment to the new China Wholesale segment.”………………………..(Section 8 ; page 12)
“In line with the last results announcement, the Group took its first step in converting the Export segment into the new segment of China Wholesale in 1Q2018.During the……………..(Section 8 : page 13)
“As explained above, as a result of delayed revenue recognition, revenue from China declined 68.2% in 1Q2018 vis-à-vis the same period last year as the Group entered into a transition for the conversion of the Export segment into the new segment of China Wholesale”………………(Section 8 ; page 14)
“Although the Group’s top and bottom line has been impacted in 1Q2018 due to the conversion of its business model from Export to China Wholesale and since actual demand for the Group’s brand offerings in China is still growing, barring any unforeseen circumstances, management is cautiously optimistic that the China Wholesale segment will contribute to the growth in the bottom line for the Group in 2H2018.”……………………………(Section 10 ; page 15)
2QFY2018 Results Announcement:
“In line with Section 10 of the Group’s 1Q2018 Results Announcement, the Group’s transition to the new Franchise Segment in China extended into 2Q2018, resulting in lower Export Segment revenue as compared to 2Q2017. Group revenue for the reporting period ended 30 June 2018 declined 39.6% vis-à-vis the same period last year primarily due to the aforesaid transition which delays revenue recognition to 2H2018”………………….(Section 8 ; page 13)
“As mentioned previously, due to the transition towards the new Franchise business segment resulting in delayed revenue recognition, revenue from China decreased from $26.6 million in 2Q2017 to $6.2 million in 2Q2018”………………….(Section 8 ; page 16)
“The completion of 1H2018 marks a new milestone for the Group’s China operations with the commencement of the Franchise Segment which replaces the Export Segment from 2H2018 onwards.”,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,(Section 10 ; page 18)
______________________________________________________________________________________________________________
FY2017 Results Announcement:
“As mentioned previously, the Group is in preparation for the conversion of the Export segment to Direct Selling”………………..(Section 8 ; page 16)
“As previously announced, conversion of the Export business to Direct Selling shall be implemented in phases. Management expects first phase conversion to commence during the first half of FY2018. Revenue from the Export Segment may decline during the course of conversion, as the Group will concurrently export to the Export Agent and our China subsidiary;”…………….(Section 10 ; page 19)
“For 1H2018, exports to China may be categorised as China Wholesale as we will be importing China orders through our China subsidiary, Best World (China) Pharmaceutical Co., Ltd (formerly known as Best World (Zhejiang) Pharmaceutical Co., Ltd.); “…………………….(Section 10 ; page 19)
AR2017 page 12:
“For FY2018, while the Group’s China management continue to work with our distributors to set up more BWL Experience Centres in various cities located throughout China where we already have established good market presence, we will also progressively convert our current export model in China to a new business segment, otherwise known as China Wholesale. Given that direct selling business model in China is unique to the country, we deliberately created this segment to differentiate it from the Direct Selling we practice in all other markets”
1QFY2018 Results Announcement:
“In line with management’s commentary in Section 10 of the Group’s last results announcement, Group Revenue for 1Q2018 was 43.3% lower compared to the same period last year, primarily due to minimal export to China as the Group commenced its conversion from the Export segment to the new China Wholesale segment.”………………………..(Section 8 ; page 12)
“In line with the last results announcement, the Group took its first step in converting the Export segment into the new segment of China Wholesale in 1Q2018.During the……………..(Section 8 : page 13)
“As explained above, as a result of delayed revenue recognition, revenue from China declined 68.2% in 1Q2018 vis-à-vis the same period last year as the Group entered into a transition for the conversion of the Export segment into the new segment of China Wholesale”………………(Section 8 ; page 14)
“Although the Group’s top and bottom line has been impacted in 1Q2018 due to the conversion of its business model from Export to China Wholesale and since actual demand for the Group’s brand offerings in China is still growing, barring any unforeseen circumstances, management is cautiously optimistic that the China Wholesale segment will contribute to the growth in the bottom line for the Group in 2H2018.”……………………………(Section 10 ; page 15)
2QFY2018 Results Announcement:
“In line with Section 10 of the Group’s 1Q2018 Results Announcement, the Group’s transition to the new Franchise Segment in China extended into 2Q2018, resulting in lower Export Segment revenue as compared to 2Q2017. Group revenue for the reporting period ended 30 June 2018 declined 39.6% vis-à-vis the same period last year primarily due to the aforesaid transition which delays revenue recognition to 2H2018”………………….(Section 8 ; page 13)
“As mentioned previously, due to the transition towards the new Franchise business segment resulting in delayed revenue recognition, revenue from China decreased from $26.6 million in 2Q2017 to $6.2 million in 2Q2018”………………….(Section 8 ; page 16)
“The completion of 1H2018 marks a new milestone for the Group’s China operations with the commencement of the Franchise Segment which replaces the Export Segment from 2H2018 onwards.”,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,(Section 10 ; page 18)