INTERIM RESULTS Shandong Ruyi as controlling shareholder of Trinity Group. Ruyi Group

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1 23 August

2 2 Shandong Ruyi as controlling shareholder of Trinity Group Ruyi Group

3 Overview of Ruyi Group

4 4 Company Overview Founded in 1972, employees over 50,000 globally Ranks 1 st among 500 textile and apparel enterprises in China Top 20 in Global Apparel and Luxury Industry Owns 19 holding companies in 13 countries and regions globally 5,800 points of sale in 80 countries and regions globally Market value of the Group s listed companies including Ruyi Woolen group in China, Renown in Japan, SMCP in France and Trinity in Hong Kong exceeded HK$20 billion. Over HK$30 billion of assets in the private group entities of Ruyi.

5 5 Operation Driven by technology textile & fashion brand Textile Science and Technology Global Leader in textile science and technology Fashion Brands Leading Fashion Brands Operator in China Polycore Color spinning Denim Home textile Shirt Fabric Digital printing Worsted wool Clothing

6 Integrated Value Chain on Textile and Garment 6 Whole Wool Industry Chain Wool Farm Australia Wool Company New Zealand Wool Company Ruyi Woolen Textile Xinjiang Ruyi WoolenTextile Wool Spinning Co. (Bulgaria) Ruyi Woolen Garment Ningxia Garment Xinjiang Garment Tai an Garment Germany Garment Japan Garment

7 Integrated Value Chain on Textile and Garment 7 Whole Cotton Industry Chain Cotton Farm Cotton Spinning Clothing Fabric Digital Printing Knitting Denim Home Fashion Shirts Socks Towels

8 8 High-End Brand Internationalized brands portfolio, positioned with high-end customers, internet + online & offline sales network over the world Ruyi is revolutionary, using information and technology to upgrade the Group into a fully integrated enterprise with continued use of internet Internet Advanced Technology manufacturing Global fashion group Big Data Fashion Brands A globally unique profit model with an established new ecosystem of vertical industry chain + brand + internet retail Technology Globalization High- End Branding Pragmatic Integrity Quality Excellence Four Founding Elements

9 Overview of Trinity Group

10 10 Market Casual Menswear trend Competitive pricing China retail online sales exceeded US$1 trillion in 2017 Upward trend of accessible luxury

11 11 Company Overall SSSG up 10% e-commerce substantial growth Licensing Agreement HK$75 million Partner with Secoo Streamlined cost by reducing underperforming stores

12 12 Pioneering today s trends with tomorrow s dream Following world casual trend Design and development Consolidation Restructuring of retail network to streamline operating costs and lower back office cost Expand portfolio and create synergies M&A Global Presence Solidify presence in Europe and greater exposure in China Ability to transform into Omni-channels retailer to provide seamless experience Omni Channels E-Commerce Partnership with Secoo Group and other e- commerce partners

13 ANNUAL REPORT Results

14 14 Sales Analysis HK$ million Total Sales Change in Total Sales Change in Same Store Sales Store Network Retail 2017 In HK$ In HK$ (1H) 2017 (1H) Chinese Mainland % Hong Kong & Macau % Taiwan % Rest of the World % RETAIL SUBTOTAL % Wholesale and Licensing (25.5%) GROUP TOTAL % +10.8% +9.3% +15.5% +6.0% +10.1% Hong Kong, Macau and Taiwan recorded double digits growth. The growth in Chinese Mainland was adversely affected by the consolidation of store network but the same store sales growth indicated a sign of recovery. The wholesale revenue declined as a result of the exit of stock clearance wholesale channel in Chinese Mainland in 2017.

15 15 Financials HK$ million vs 17 Variance Revenue % Gross Profit Gross margin % % +4.2% +0.7pp Core Operating Profit/(Loss) (160.5) (184.2) +12.9% The slight revenue increment indicated a preliminary sign of bottoming out. The gross margin remained stable at approximately 70%. Excluding the one off exchanges losses, the core operating losses for the period ended 30 June and 2017 would be HK$146.2m and HK$177.9m respectively.

16 16 Financial Reconciliation HK$ million vs 17 Variance Core Operating Profit/(Loss) (160.5) (184.2) +12.9% Restructuring Costs (19.1) (60.1) +68.3% Net Finance Costs (11.1) (13.3) +16.0% Others (6.1) 0.6 na. Loss Attributable to Shareholders (196.8) (257.0) +23.5% The restructuring cost for mainly represents the staff termination cost relating to our Europe operation. Net finance cost began to decrease as a result of the subscription of Ruyi.

17 17 Headcount 30 Jun Dec Jun Total 2,117 2,283 2,345 Significant headcount reduction: 228 personnel, 10% drop against Jun 2017 headcount. The headcount reduction mainly contributed by consolidation of store network and back office restructuring.

18 18 Gearing Ratio 30 Jun Dec Net Cash/(Debt) (HK$ million) (1,169.3) Gearing Ratio na. 35.0% Received net proceeds of HK$2,215 million from the Ruyi subscription. Positive cash position after completion.

19 19 Results summary Menswear changing trends (Less formal, more casual) Significant restructuring within the Company Same store sales in Chinese Mainland grew Gross margins stable

20 20 Growth Strategies & Outlook

21 21 Strengthening Global Business The capital injection of Shandong Ruyi is a transformational investment Strengthen global network of brands through licensing arrangement with Ruyi Focus resources on core business in Greater China Optimize supply chain and the ability of product development Strategic retail network expansion in Greater China Improve brand influence in the country of origin Strengthen licensing in APAC Realize synergies in resources allocation Reinforce e-commerce presence Make good use of technologies

22 22 Advancing Omni Channels Development Synchronize the Online and Offline business Restructure e-commerce team Drive e-commerce platform relationship Boost sales with social media channels Enhance sales functions of brand websites

23 Thank you

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