Goodbaby International : REVENUE PERFORMANCE FOR THE THREE MONTHS ENDED 31 MARCH 2021

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Goodbaby International Holdings Limited

好 孩 子 國 際 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code : 1086)

REVENUE PERFORMANCE

FOR THE THREE MONTHS ENDED 31 MARCH 2021

This announcement is made by Goodbaby International Holdings Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Based on the unaudited consolidated management accounts of the Company, the revenue for the three months ended 31 March 2021 (the "Period") was approximately HK$2,084.9 million, representing a record first quarter and strong growth of 27.2% from approximately HK$1,639.7 million for the corresponding period in 2020. During the Period, foreign exchange rate fluctuations, particularly exchange rate fluctuation between RMB and HKD, and between EUR and HKD, impacted the overall revenue growth due to translation of the Group's revenue from the original currencies into the Group's reporting currency in HKD. On a constant currency basis1, the Group's revenue for the Period recorded a 19.5% increase as compared with the corresponding period of 2020.

					Three months ended 31 March				Change on a constant
(HK$ million)				2021 (unaudited)				2020 (unaudited)	Change (%)	currency basis (%)
Revenue				$2,084.9					$1,639.7		27.2%		19.5%
																Change on a constant
	Amount	% of Revenue	Amount	% of Revenue	Change (%)	currency basis (%)
Strategic Brands
Revenue	1,723.0		82.6%		1,406.1		85.8%		22.5%		14.7%
CYBEX		713.0		34.2%		514.0		31.4%		38.7%		27.4%
gb	541.0		25.9%		449.5		27.4%		20.4%		10.7%
Evenflo	469.0		22.5%		442.6		27.0%		5.9%		4.0%

• The constant currency basis is the weighted growth rate on each original currency revenue.

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Overview

Notwithstanding the lingering impacts from the coronavirus disease 2019 ("COVID-19") during the Period and also the initial impacts of COVID-19 during the corresponding period of 2020, each of the Group's core Strategic brands of CYBEX, gb and Evenflo recorded very positive revenue growth during the Period.

During the Period, the Group's core Strategic brands performed as follows:

• CYBEX brand continued its strong revenue growth momentum during the Period, with a growth rate of 38.7% (27.4% on a constant currency basis) compared to the corresponding period of 2020. CYBEX's strong revenue growth across all key global markets was driven by its strong brand position and product portfolio (in both car seats and particularly wheeled goods), fortified global operations and the continuous launch of new products and categories. CYBEX continued to gain market share in all key geographic regions during the Period.
• gb brand revenue performance during the Period achieved positive results with a growth rate of 20.4% (10.7% on a constant currency basis) from the corresponding period of 2020. In its key China market, gb brand recorded a growth rate of 30.2% (19.4% on a constant currency basis). This achievement was primarily driven by revenue growth realized from the recovery of offline retail traffic and sales. During the corresponding period in 2020, our retail stores were temporarily closed in late January and then gradually reopened in March. gb continues to modernize and enhance its overall brand image and invest resources toward product development and innovation in both durable and non-durable products.
• Evenflo brand revenue performance recovered and achieved 5.9% growth (4.0% on a constant currency basis) during the Period from the corresponding period of 2020. This positive performance trend was primarily driven by continued positive consumer reaction to new product launches and to the overall improvement of the macro environment with a stabilizing political situation and positive consumer behaviors due to the stimulus relief efforts.

During the Period, our Blue Chip business revenue was approximately HK$265.5 million as compared to approximately HK$157.7 million in the corresponding period of 2020, recording an impressive revenue growth of 68.4% (61.6% on a constant currency basis). The positive revenue growth was driven by increasing orders from our customers and also impacted by lower shipments in the corresponding period in 2020 due to the effects of COVID-19. Our Blue Chip business remains stable.

During the Period, the Group's revenue from other business, including the Group's tactical brands and retailer's private label business, was approximately HK$96.4 million as compared to approximately HK$75.8 million in the corresponding period of 2020. The 27.2% increase (20.2% on a constant currency basis) in revenue from the corresponding period of 2020 was mainly driven by the recovery of business from the COVID-19 impacts and positive results of portfolio optimization.

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With the gradual distribution of vaccines to combat COVID-19 and the preliminary signs of stabilization in both economic and political environments in our key markets, we are encouraged by our Group's momentum. We remain confident in the focused strategy of our core Strategic brands of CYBEX, gb and Evenflo and the development of our Blue Chip business. Nevertheless, as the global economy recovers, we remain diligent to the ongoing headwinds in global supply and logistics chains and continue to implement proactive measures to minimize any remaining and unexpected impacts from COVID-19.

The above information was prepared based on the unaudited consolidated management accounts of the Group which have neither been reviewed nor audited by the auditors of the Company and may differ from those in the audited or unaudited financial statements of the Group to be published by the Company on yearly and half yearly basis. The operational information for the Period may not reflect the overall performance of the Group for a complete reporting period. Shareholders and potential investors of the Company are advised not to place reliance on the aforesaid information and they are advised to exercise caution in dealing in the securities of the Company.

By Order of the Board

Goodbaby International Holdings Limited

SONG Zhenghuan

Chairman

Hong Kong, 12 May 2021

As at the date of this announcement, the Executive Directors of the Company are Mr. SONG Zhenghuan, Mr. Martin POS, Mr. XIA Xinyue, Mr. LIU Tongyou and Mr. Michael Nan QU; the Non-Executive Directors are Ms. FU Jingqiu and Mr. HO Kwok Yin, Eric; and the Independent Non-Executive Directors are Mr. Iain Ferguson BRUCE, Mr. SHI Xiaoguang, Ms. CHIANG Yun and Mr. JIN Peng.

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