智通财经APP获悉，2023年3月27日，都市丽人(02298)发布了2023年年度业绩报告，财报数据显示,2023年全年，都市丽人营收27.6亿元，归母净利润4248.3万元，同比增长29%，毛利率提升约1%;经营活动所得现金净流入由2022年全年约2.31亿元，上升至2023年全年约人民币3.83亿元;2021年及以前库存对比期初减少3.0亿元成本。 2023年，都市丽人持续深化“国民内衣全国销量领先”的品牌定位，对品牌、产品、供应链、渠道等进行升级优化，坚定打造好而不贵的国民内衣，并通过一系列改革举措的实施，品牌盈利能力持续增强。 随着深度改革的推进，2023年都市丽人盈利持续提升，整体售罄率明显提高。 ...

智通财经APP讯，都市丽人(02298)发布截至2023年12月31日止年度业绩，该集团期内取得收入27.57亿元(人民币，下同)，;公司拥有人应占年内利润4248.3万元，同比增加28.64%;每股基本盈利1.94分。 2023年是新冠疫情管控放开后的第一年，也是挑战与机遇并存的一年，国际形势依然复杂严峻，国内经济呈波动式复苏态势。在此背景下，集团坚守“三大初心”：做好而不贵的内衣;让每一个加盟商盈利，让集团的员工真心诚意的服务好每一个加盟商和消费者，应时而变，从品牌、产品、渠道、数字化建设等方面积极采取措施，以提升整体实力及业绩表现。 于2023年，集团的毛利率上升至约47.5%(2022年：46.4%)，主要是由于供应链管理、产品营运及产品规划能力持续改善，导致产品售罄增加及销售折扣减少。 ...

Financial Performance - The company's total revenue for the year ended December 31, 2023, was RMB 2,757,081 thousand, a decrease from RMB 3,008,760 thousand in 2022, representing a decline of approximately 8.3%[2] - Gross profit for the year was RMB 1,308,659 thousand, down from RMB 1,396,752 thousand in the previous year, indicating a decrease of about 6.3%[2] - The net profit attributable to equity holders for the year was RMB 40,686 thousand, compared to RMB 24,024 thousand in 2022, reflecting an increase of approximately 69.2%[5] - Basic and diluted earnings per share for the year were both RMB 1.94, up from RMB 1.51 in the previous year, marking an increase of about 28.5%[1] - Operating profit for the year was RMB 66,605 thousand, down from RMB 81,529 thousand in 2022, a decrease of approximately 18.3%[2] - The company reported a total comprehensive income of RMB 34,501 thousand for the year, significantly higher than RMB 13,493 thousand in 2022, representing an increase of approximately 156.5%[2] - Financial income increased to RMB 7,618 thousand from RMB 6,700 thousand, showing a growth of about 13.7%[2] - For the fiscal year ending December 31, 2023, total revenue was RMB 2,757,081,000, a decrease of 8.34% from RMB 3,008,760,000 in 2022[30] - Retail sales accounted for RMB 1,212,137,000, down from RMB 1,266,975,000, representing a decline of 4.3%[30] - E-commerce revenue decreased significantly to RMB 524,119,000 from RMB 675,736,000, a drop of 22.4%[30] - The net profit attributable to the company's owners for 2023 was RMB 42,483,000, an increase of 28.5% compared to RMB 33,024,000 in 2022[39] - Basic earnings per share rose to RMB 1.94 from RMB 1.51, reflecting a growth of 28.5%[39] Cash Flow and Assets - Operating cash flow for the year was RMB 383,443,000, compared to RMB 235,967,000 in the previous year, indicating a significant increase[44] - Total assets as of December 31, 2023, were RMB 3,815,517 thousand, compared to RMB 3,481,763 thousand in 2022, indicating an increase of approximately 9.6%[18] - The company’s cash and cash equivalents decreased to RMB 506,157 thousand from RMB 554,083 thousand, a decline of about 8.6%[18] - Total liabilities as of December 31, 2023, were RMB 751,436,000, up from RMB 613,185,000 in 2022[41] - The company reported a total of RMB 296,822,000 in accounts payable as of December 31, 2023, down from RMB 359,700,000 in the previous year[97] - The company’s accounts receivable from third-party customers amounted to RMB 330,202,000 as of December 31, 2023, a slight decrease from RMB 339,050,000 in 2022[66] - The company has increased bank loans to RMB 392,480,000 as of December 31, 2023, from RMB 331,502,000 in 2022, primarily to fund a new project in Dongguan, Guangdong[144] Expenses and Cost Management - The company received government grants totaling RMB 3,653,000, a decrease from RMB 4,239,000 in the previous year[32] - The company reported a decrease in marketing and promotion expenses to RMB 132,082,000 from RMB 161,351,000, a reduction of 18.1%[35] - General and administrative expenses decreased by approximately 7.6% to RMB 194,961,000, down from RMB 211,094,000 in 2022, attributed to streamlined operations and cost control measures[140] - The company's sales and marketing expenses decreased by approximately 9.2% to about RMB 1,103,187,000, compared to RMB 1,215,244,000 in 2022, primarily due to the cessation of commission payments related to franchise store arrangements[114] Strategic Initiatives - The company plans to continue expanding its market presence and investing in new product development to drive future growth[9] - The company aims to enhance overall strength and performance through measures in branding, product development, channel management, and digital construction[73] - The company has implemented a multi-brand strategy, aligning its brands to meet diverse consumer demands across different market segments[74] - The company has strengthened its supply chain management capabilities, focusing on material development innovation and continuous optimization of procurement and production processes[77] - The company has completed several key digital transformation projects, including a comprehensive consumer management platform and a B2B system platform, laying a solid foundation for operational efficiency[80] - The company aims to create "good yet affordable" products by focusing on innovation in materials, technology, and design, while collaborating with suppliers to enhance product competitiveness[76] - The company aims to enhance brand strength and product quality in 2024, with a focus on consumer demand-driven product innovation[110] - The company is advancing a "thousand-store campaign" to strengthen brand power and sales scale while optimizing market layout[110] - The company plans to enhance customer in-store experience through upgraded fitting room designs and improved service functionalities[130] - The company aims to build a comprehensive consumer platform to leverage the value of over 60 million members for precise marketing promotions[131] Governance and Compliance - The company has adopted the "Standards for Directors Conducting Securities Transactions" as per the Listing Rules, ensuring compliance by all directors for the fiscal year ending December 31, 2023[154] - The board of directors does not recommend the payment of a final dividend for the fiscal year ending December 31, 2023, consistent with the previous year[155] - The audit committee reviewed the accounting standards and internal controls for the fiscal year ending December 31, 2023, ensuring financial reporting integrity[153] - The board is composed of four independent non-executive directors, ensuring a balanced governance structure[159] - The audit committee consists of independent directors, enhancing oversight and governance[159] - The chairman and CEO roles are held by the same individual, Zheng Yaonan, who has significant experience in the industry[152] - The company has implemented sufficient safeguards to ensure the balance of power within the board, despite the dual role of the chairman and CEO[152] Market and Product Development - In 2023, the company opened over 800 new franchise and joint venture stores, representing a year-on-year increase of over 70%[78] - The company launched several new products in 2023, including "塑颜C," "蜜桃杯," and "高弹裤," which received positive market feedback[105] - The B2B system platform was further upgraded, adding features for product marketing and inventory management, leading to continuous growth in B2B order volume[109] - The company is in the integration phase of its e-commerce business, which generated RMB 524,119,000 in revenue, accounting for 19.0% of total sales[136] Future Outlook - The company will publish its annual performance report on March 27, 2024, detailing the fiscal year results[156]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 Cosmo Lady (China) Holdings Company Limited 都 市 麗 人（ 中 國）控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號︰2298） 有 關 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 年 報 的 補 充 公 告 茲提述都市麗人（中國）控股有限公司（「本公司」，連同其附屬公司統稱「本集團」） 截至二零二二年十二月三十一日止年度的年報（「二零二二年年報」）及本公司 日期為二零一九年六月二十八日的公告，內容有關本公司採納股份獎勵計劃 （「二零一九年公告」）。除文義另有所指外，本公告所用詞彙與二零二二年年報 及二零一九年公告所界定者具有相同涵義。 除二零二二年年報中載列的資料外，根據香港聯合交易所有限公司證券上市 規則（「上市規則」）第17章，本公司謹此補充以下有關本公司於二零一九年六月 二十八日採納的股份獎勵計劃（「二零 ...

Financial Performance - For the six months ended June 30, 2023, the company reported a profit attributable to owners of approximately RMB 26,129,000, compared to RMB 10,123,000 for the same period in 2022, representing a significant increase of 158%[6]. - Revenue for the same period was RMB 1,367,631,000, down from RMB 1,618,373,000 in 2022, indicating a decrease of approximately 15.5%[12]. - The gross profit margin improved to 47.4% in 2023 from 46.6% in 2022, reflecting enhanced operational efficiency[12]. - The company's profit attributable to owners increased from RMB 10,123,000 for the six months ended June 30, 2022, to RMB 26,129,000 for the same period in 2023, representing a significant growth[29]. - Total revenue for the first half of 2023 was RMB 1,367,631,000, a decrease from RMB 1,618,373,000 in the same period of 2022, with retail sales from self-operated and franchised stores showing improvement[30]. - The company reported a net profit for the period of RMB 24,557 thousand, significantly up from RMB 1,852 thousand in the same period last year, representing a year-over-year increase of 1215.5%[73]. - The company's total assets as of June 30, 2023, were RMB 3,459,080 thousand, a slight decrease from RMB 3,481,763 thousand at the end of 2022[74]. - The company reported earnings per share of RMB 1.19 for the period, compared to RMB 0.46 in the same period last year, an increase of 158.7%[73]. - The company reported a net loss of RMB 1,784,000 for the six months ended June 30, 2023, compared to a net loss of RMB 11,018,000 in the same period of 2022[142]. Operational Efficiency - Sales and marketing expenses decreased by approximately 13.5% to about RMB 557,613,000 in the first half of 2023, down from RMB 644,351,000 in the same period of 2022[33]. - General and administrative expenses decreased by approximately 20.0% to about RMB 93,793,000 in the first half of 2023, compared to RMB 117,214,000 in the same period of 2022, due to streamlined corporate structure and cost control measures[53]. - The gross profit margin rose to approximately 47.4% in the first half of 2023, compared to 46.6% in the same period of 2022, due to improved supply chain management and product planning[50]. - The total operating expenses, including cost of sales, selling and marketing expenses, and general and administrative expenses, amounted to RMB 1,371,415,000, down 15.6% from RMB 1,625,704,000 in the previous year[143]. Market and Product Development - The company launched several popular products in the spring and summer of 2023, including various cup designs and soft series, which received positive market feedback[25]. - The company is focusing on a multi-channel marketing strategy, integrating online and offline operations to enhance customer engagement and operational efficiency[23]. - The company aims to enhance its core competitiveness by focusing on brand, product, channel, and digital capabilities[14]. - The company plans to continue focusing on market expansion and product development to enhance its competitive position[126]. Digital Transformation - The company is advancing its digital transformation, with several system platforms already launched to support business development[26]. - The company continues to enhance its digital transformation, including improvements to its B2B system platform and the establishment of a data governance project to support data-driven marketing decisions[45]. - The launch of a comprehensive consumer platform in June 2023 is expected to enhance marketing capabilities for over 62 million members, driving continuous growth[27]. Financial Position and Management - The liquidity ratio as of June 30, 2023, was approximately 1.8 times, an increase from 1.7 times as of December 31, 2022[37]. - The company raised approximately HKD 600 million by issuing 240,000,000 shares at HKD 2.50 per share to Fosun International on May 17, 2017, with net proceeds of about HKD 599 million allocated for sales and distribution channel reform, potential mergers and acquisitions, and general working capital[57]. - The company has pledged properties, plants, and equipment valued at approximately RMB 428.18 million as collateral for bank loans as of June 30, 2023[64]. - The company continues to maintain its capital management objective to ensure ongoing viability and provide returns to shareholders while minimizing capital costs[110]. Employee and Organizational Structure - The company had approximately 2,800 full-time employees as of June 30, 2023, down from 3,000 employees as of December 31, 2022[66]. - The company aims to optimize its organizational structure and strengthen team capabilities to maintain a competitive edge despite external uncertainties[27]. Environmental and Regulatory Compliance - The company is committed to environmental protection and sustainable development, adhering to regulations including the Environmental Protection Law of the People's Republic of China[67]. - The company has not identified any matters that would lead to a belief that its interim financial information is not prepared in accordance with International Accounting Standard 34[71]. Cash Flow and Investments - For the six months ended June 30, 2023, the company reported a cash flow from operating activities of RMB 212,696,000, compared to RMB 61,020,000 for the same period in 2022, representing a significant increase[101]. - The company reported a net cash outflow from investing activities of RMB 256,662,000 for the first half of 2023, compared to a net cash inflow of RMB 37,110,000 in the same period of 2022[101]. - As of June 30, 2023, the total cash and cash equivalents amounted to RMB 658,263,000, a decrease from RMB 709,458,000 as of December 31, 2022, representing a decline of approximately 7.5%[191]. Shareholder Information - The company did not recommend any interim dividend for the six months ended June 30, 2023, consistent with the previous year[151]. - The company has not reported any dilution effect from the 2019 share incentive plan, as the diluted earnings per share remained the same as the basic earnings per share[197].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 Cosmo Lady (China) Holdings Company Limited 都 市 麗 人（ 中 國）控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號︰2298） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 財務概要 截至六月三十日止六個月 二零二三年 二零二二年 收入 人民幣千元 1,367,631 1,618,373 本公司擁有人應佔利潤 人民幣千元 26,129 10,123 毛利率 % 47.4% 46.6% 每股盈利 ...

Financial Performance - The group reported a significant increase in revenue, achieving a total of 1.2 billion in 2022, representing a 15% year-over-year growth[4] - Total revenue for the year ended December 31, 2022, was RMB 3,008.76 million, a decrease of 10.3% from RMB 3,355.40 million in 2021[115] - Gross profit for the same period was RMB 1,396.75 million, slightly down from RMB 1,412.62 million, resulting in a gross margin of approximately 46.4%[115] - Operating profit for 2022 was RMB 81.53 million, a significant recovery from an operating loss of RMB 380.03 million in 2021[115] - Net profit for the year was RMB 24.02 million, compared to a net loss of RMB 496.06 million in the previous year, indicating a turnaround in profitability[115] - The company reported a financial asset impairment reversal of RMB 76.32 million, contrasting with a loss of RMB 42.98 million in 2021[115] - Total comprehensive income for the year was RMB 13.49 million, recovering from a comprehensive loss of RMB 515.84 million in 2021[115] - The company’s sales and marketing expenses decreased to RMB 1,215.24 million from RMB 1,539.11 million, reflecting a cost control strategy[115] - The financial expenses decreased significantly to RMB 33.84 million from RMB 53.18 million, indicating improved financial management[115] - The total comprehensive income attributable to the company's owners for the year ended December 31, 2022, was RMB 22,493 thousand, a significant improvement from a loss of RMB 513,767 thousand in the previous year[144] - Basic and diluted earnings per share for the year were RMB 1.51, recovering from a loss of RMB 22.49 per share in the previous year[144] User Growth and Market Expansion - User data showed a 20% increase in active users, reaching 5 million by the end of 2022[4] - The company provided guidance for 2023, projecting a revenue growth of 10% to 1.32 billion[9] - New product launches are expected to contribute an additional 200 million in revenue in the upcoming fiscal year[9] - The group is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[9] - The company plans to focus on new product development and market expansion to drive future growth[115] - The company aims to enhance its operational efficiency and explore potential mergers and acquisitions to strengthen its market position[115] Environmental and Safety Performance - Environmental performance indicators showed a 10% reduction in greenhouse gas emissions compared to the previous year[3] - The group has set a waste reduction target of 15% for the next fiscal year, with specific steps outlined to achieve this goal[3] - There were no product recalls due to safety or health reasons during the reporting period, maintaining a 100% safety record[5] Financial Position and Liabilities - As of December 31, 2022, the total inventory amounted to RMB 798 million, with an inventory impairment provision of RMB 95 million[80] - The total accounts receivable as of December 31, 2022, was RMB 339 million, with an expected credit loss provision of RMB 43 million[83] - Current liabilities totaled RMB 1,285,294 thousand, a decrease from RMB 1,951,571 thousand in the previous year[95] - Non-current liabilities amounted to RMB 1,569,588 thousand, down from RMB 2,151,617 thousand in the previous year[95] - The total equity and liabilities amounted to RMB 3,481,763 thousand, compared to RMB 4,045,523 thousand in the previous year[95] - The company’s total liabilities decreased from RMB 2,151,617 thousand in 2021 to RMB 1,569,588 thousand in 2022, a decrease of approximately 27.0%[117] Shareholder Information and Governance - As of December 31, 2022, TMF (Cayman) Limited held 48% of the shares, while Da Cheng Investment Limited and Yao Li Investment Holdings Limited each held 33.38%[22] - The company has a total of 54,908,600 shares held by the employee benefits trust for managing the share incentive plan as of December 31, 2022[27] - Zheng Yao Nan holds 793,650,944 shares, representing 35.28% of the total shares, and is a key figure in the discretionary trust[34] - The board of directors will rotate and retire at the annual general meeting, with three directors eligible for re-election[17] - The board of directors includes independent non-executive members, ensuring governance and oversight[15] - The company has established a non-competition agreement with its controlling shareholders, ensuring compliance with its terms[29] Accounting and Financial Reporting - The company has adopted new accounting standards effective January 1, 2023, including IFRS 17 on insurance contracts and amendments to IAS 1 regarding the classification of liabilities[130] - The company is committed to ensuring that its accounting policies align with those of its joint ventures to maintain consistency in financial reporting[135] - The group adopted new accounting standards and amendments starting from January 1, 2022, with no significant impact on prior periods or expected future periods[156] - The group assesses whether there is objective evidence of impairment for investments in associates at each reporting date, calculating impairment as the difference between the recoverable amount and the carrying amount[160] - The group reports its operating segments consistently with internal reports provided to the chief operating decision-maker, who is responsible for resource allocation and performance assessment[166] Procurement and Related Party Transactions - The largest supplier accounted for approximately 3.0% of the group's procurement, while the top five suppliers accounted for about 12.3% in 2022, compared to 3.6% and 16.1% in 2021 respectively[14] - The total procurement amount under the framework procurement agreement with Shantou Shengqiang for the fiscal year 2022 was RMB 38,000,000[48] - The actual transaction amount as of December 31, 2022, was RMB 21,651,000[49] - The new procurement agreement with Shantou Shengqiang sets annual procurement limits of RMB 5,000,000 for the fiscal years 2024, 2025, and 2026[53] - The company has confirmed that related party transactions are conducted on normal or better commercial terms[72] - The company has established continuous related party transactions that are exempt from independent shareholder approval under the listing rules[73] Inventory and Cash Flow Management - Inventory decreased significantly from RMB 964,129 thousand in 2021 to RMB 702,963 thousand in 2022, a reduction of approximately 27.1%[117] - Cash and cash equivalents increased from RMB 515,547 thousand in 2021 to RMB 554,083 thousand in 2022, an increase of about 7.4%[117] - Cash flows from operating activities for the year amounted to RMB 230,528 thousand, compared to RMB 167,226 thousand in the previous year, indicating a 37.8% increase[152] - Cash flows from investing activities showed a net inflow of RMB 35,806 thousand, down from RMB 61,813 thousand in the previous year[152] - Cash flows used in financing activities resulted in a net outflow of RMB 216,202 thousand, an improvement from RMB 417,855 thousand in the previous year[152]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 Cosmo Lady (China) Holdings Company Limited 都 市 麗 人（中 國）控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2298） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 之 全 年 業 績 公 告 年度業績 都市麗人（中國）控股有限公司（「本公司」）董事會（「董事會」）公佈本公司及其附屬公司（「本集團」） 截至二零二二年十二月三十一日止年度之全年業績，連同二零二一年比較數字及經甄選解釋 附註如下： 綜合損益及其他全面收益表 截至十二月三十一日止年度 二零二二年 二零二一年 附註 人民幣千元 人民幣千元 收入 4 3,008,760 3,355,403 銷售成本 (1,612,008) (1,942,780) 毛利 1,396,752 1,412,623 銷售及營銷費用 (1,215,244) (1,539,113 ...

Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 1,618,373 thousand, a decrease of 11.5% compared to RMB 1,827,227 thousand in 2021[10] - Profit attributable to owners of the company was RMB 10,123 thousand, down 33.0% from RMB 15,113 thousand in 2021[10] - Gross margin decreased to 46.6%, compared to 48.7% in the previous year[10] - Operating profit increased to RMB 46,803 thousand, up 34.9% from RMB 34,702 thousand in the previous year[10] - Net profit for the period was RMB 1,852 thousand, significantly lower than RMB 14,096 thousand in the prior year[66] - Total assets as of June 30, 2022, amounted to RMB 3,636,928 thousand, down from RMB 4,045,523 thousand at the end of 2021[69] - The company reported a total comprehensive income of RMB 11,712 thousand, compared to RMB 6,047 thousand in the previous year[66] - The company reported a net loss of RMB 11,018 thousand in other income and expenses, compared to a net gain of RMB 1,093 thousand in the previous year[110] - The total income tax expense for the six months ended June 30, 2022, was RMB 29,719,000, significantly higher than RMB 3,155,000 for the same period in 2021[119] Revenue Breakdown - Retail sales accounted for 46.9% of total revenue, while sales to franchisees and e-commerce contributed 29.3% and 20.5%, respectively[23] - Retail sales amounted to RMB 758,952 thousand, down from RMB 877,952 thousand, representing a decline of 13.5% year-over-year[110] - Sales to franchisees were RMB 473,498 thousand, a decrease of 10.5% compared to RMB 528,868 thousand in the previous year[110] - E-commerce sales decreased to RMB 332,674 thousand from RMB 357,628 thousand, reflecting a decline of 7%[110] Cost and Expenses - Gross profit for the same period was RMB 754,234 thousand, down from RMB 890,178 thousand, reflecting a decline in gross margin[66] - Selling and marketing expenses decreased by about 12.8% to approximately RMB 644,351,000, mainly due to a reduction in commissions from franchisee arrangements[26] - General and administrative expenses decreased by approximately 7.4% to about RMB 117,214,000, attributed to the simplification of the corporate structure[29] - Employee benefits expenses, including director remuneration, were RMB 161,012 thousand, a decrease of 12.6% from RMB 184,284 thousand[112] Inventory and Cash Management - Inventory levels decreased by approximately RMB 205,857,000 as of June 30, 2022, compared to December 31, 2021[38] - The inventory turnover ratio improved from 3.4 times to 2.8 times over the same period[39] - Cash and cash equivalents increased to RMB 554,631 thousand from RMB 515,547 thousand, indicating a stronger liquidity position[69] - The company's cash flow management appears to be improving, as evidenced by the reduction in total liabilities and current liabilities[72] Debt and Equity - Total debt ratio was approximately 19.0% as of June 30, 2022, slightly down from 19.5% at the end of 2021[41] - The company maintained a net cash position with a net debt ratio of approximately negative 18.6% as of June 30, 2022[41] - The company's total liabilities decreased significantly to RMB 1,740,069 thousand from RMB 2,151,617 thousand, representing a reduction of approximately 19.2%[72] - Current liabilities were reported at RMB 1,405,747 thousand, down from RMB 1,951,571 thousand, indicating a decrease of about 28%[72] Strategic Initiatives - The company plans to enhance brand positioning and optimize membership management to attract its 60 million members[15] - New product development will focus on professional fabrics and designs, with plans to launch high-quality products in the second half of 2022[16] - The company aims to expand its offline store network in lower-tier cities to capture new business opportunities[19] - E-commerce initiatives include multiple live-streaming events and enhancing product visibility on online platforms[20] Sustainability and Corporate Governance - The company is committed to environmental sustainability and has obtained ISO 14001 certification for its environmental management system[57] - The company aims to leverage its competitive advantages to unlock untapped potential and drive growth, despite facing significant challenges in the market[58] Share Issuance and Capital Management - The company raised approximately HKD 600 million by issuing 240 million shares at HKD 2.50 each to Fosun International Limited, with net proceeds of about HKD 599 million intended for sales channel reform, potential mergers, acquisitions, and general working capital[45] - The company raised approximately HKD 510 million by issuing 121,443,213 shares at HKD 4.20 each to Windcreek Limited and others, with net proceeds of about HKD 509 million intended for similar purposes as the Fosun issuance[49] Employee and Talent Management - The company had approximately 3,100 full-time employees as of June 30, 2022, down from 3,300 employees at the end of 2021[56] - The company aims to retain existing management and attract new talent through the 2019 Share Award Scheme, which replaces the previous employee share option plan[175]

Financial Performance - In 2021, the company's revenue growth was impacted by increased costs, including a significant rise in raw material prices, particularly cotton, which increased by approximately 44% year-on-year[10]. - The company's overall operational results in 2021 were below expectations, particularly in the second half of the year, due to increased returns and lower-than-expected revenue[12]. - In 2021, the total revenue increased by approximately 9.7% to about RMB 3,355,403,000 compared to RMB 3,057,491,000 in 2020[24]. - Product sales revenue rose by approximately 6.5% to about RMB 3,240,377,000 from RMB 3,041,664,000 in the previous year[24]. - Gross profit margin decreased to approximately 42.1% from 48.8% in 2020, primarily due to inventory impairment provisions of about RMB 146,134,000 and rising raw material prices[26]. - Other income decreased by approximately 41.6% to about RMB 43,893,000 from RMB 75,187,000 in 2020[29]. - The group reported a total reserve of approximately RMB 1,500,348,000 as of December 31, 2021, a decrease from RMB 1,558,426,000 in 2020[196]. - The group did not declare any interim or final dividends for the year ended December 31, 2021, consistent with 2020[187]. Product Development and Innovation - The company launched several new products in 2021, including dust-free cotton homewear and size-free underwear, with the evergreen product ratio increasing from about 6.0% to approximately 12.5%[12]. - The company plans to upgrade its product line in 2022, introducing enhanced versions of popular products and new items such as soft cup bras and massage cup bras[14]. - The company has developed around 40 new materials over the past two years in collaboration with top raw material manufacturers[14]. - New product launches are expected to contribute an additional 200 million in revenue in the upcoming year[58]. - The company is investing heavily in technology development, allocating 100 million towards R&D initiatives in 2022[58]. Market Expansion and E-commerce - The company is expanding its e-commerce presence by collaborating with additional platforms such as Douyin, Kuaishou, and Pinduoduo, alongside major platforms like Alibaba and JD[15]. - The company is actively seeking to expand its business in lower-tier markets and is looking for opportunities to open new stores[14]. - The company plans to enhance its online sales platform, expecting a 40% increase in e-commerce revenue by the end of 2022[66]. - Market expansion plans include entering two new regions, which are anticipated to increase market share by 5%[58]. Operational Efficiency - The company is focusing on improving operational efficiency by reducing inventory units by approximately 42.8% year-on-year[12]. - The management team emphasized the importance of enhancing supply chain efficiency, aiming to reduce costs by 8% over the next year[58]. Corporate Governance - The board has adopted the corporate governance code as per the Hong Kong Stock Exchange, with a commitment to high standards of management[72]. - The board consists of 11 members, including 2 female directors, reflecting a balanced structure and diverse skills necessary for the company's development[76]. - The board confirmed compliance with the standards set out in the "Code of Conduct for Directors' Securities Transactions" for the year ended December 31, 2021[93]. - The company has established a risk management framework based on the COSO framework to identify and manage risks effectively[97]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to environmental sustainability and has obtained ISO 14001 certification for its environmental management system[50]. - The board of directors oversees the company's environmental, social, and governance (ESG) performance and regularly reviews significant ESG issues[119]. - The company aims to balance economic success with stakeholder expectations and environmental needs[116]. - The ESG report is prepared in accordance with the Hong Kong Stock Exchange's guidelines, ensuring compliance with principles of materiality, quantification, balance, and consistency[112]. Employee Engagement and Development - The company had around 3,300 full-time employees as of December 31, 2021, an increase from 3,200 in the previous year, with compensation linked to individual performance and overall company results[49]. - Employee compensation is generally above the industry average, with performance evaluations influencing bonuses and salary adjustments[127]. - The company organized various employee engagement activities to foster a sense of belonging and improve morale[128]. - The company focuses on employee development through tailored training programs and career advancement opportunities[134]. Community Engagement and Social Responsibility - The company actively engages in community investment opportunities to fulfill its social responsibilities and support local communities[172]. - The group donated over RMB 1.1 million for various charitable activities, including support for Xiamen University and disaster relief in Fujian and Henan provinces[173]. - A total of 13 volunteer projects were organized during the reporting period, accumulating over 250 hours of volunteer work[173]. Customer Satisfaction and Product Quality - The company implemented strict policies to protect sensitive customer data, with no complaints related to privacy or data loss reported in 2021[151]. - In 2021, the company maintained a complaint rate of less than 0.002% for sold or shipped products, which is below the industry average[152]. - The company achieved ISO 9001:2015 certification, confirming its commitment to consistent quality in products and services[151].