Financial Performance - Zibuyu Group's revenue for 2022 reached RMB 3,066.3 million, representing a year-on-year increase of 30.7%[17]. - The gross profit for 2022 was RMB 2,347.8 million, compared to RMB 1,765.5 million in 2021, indicating a significant growth[14]. - Profit for the year was RMB 110.7 million, down from RMB 200.5 million in 2021, reflecting the impact of economic challenges[14]. - Total assets as of December 31, 2022, amounted to RMB 1,360.7 million, an increase from RMB 1,019.7 million in 2021[15]. - Total equity increased to RMB 787.3 million in 2022, up from RMB 373.0 million in 2021, showcasing strong financial health[15]. - In 2022, the company's revenue reached approximately RMB 3,066.3 million, representing a year-on-year increase of approximately 30.7%, marking a historical high despite the global economic downturn[19][25]. - Gross profit for the year was approximately RMB 2,347.8 million, reflecting a year-on-year increase of approximately 33.0%[32][34]. - Profit attributable to shareholders decreased by approximately 44.8% to RMB 110.7 million compared to RMB 200.5 million in 2021[32][34]. - Basic and diluted earnings per share were approximately RMB 0.24, down from RMB 0.44 in 2021[32][34]. Market Expansion and Sales Growth - Footwear sales on Amazon increased by over 1.5 times compared to the previous year, indicating strong growth in this category[26][29]. - The company expanded its sales channels by collaborating with platforms such as TEMU, enhancing its sales network[27][29]. - The top ten best-selling brands saw nearly double sales growth year-on-year, showcasing effective brand cultivation capabilities[28][30]. - Revenue from third-party e-commerce platforms was approximately RMB2,939.0 million, representing an increase of approximately RMB886.7 million, or approximately 43.2%, compared to RMB2,052.3 million for the year ended 31 December 2021[39][40]. - Revenue from North America was approximately RMB2,949.3 million, an increase of approximately RMB919.9 million, or approximately 45.3%, compared to RMB2,029.4 million for the year ended 31 December 2021[43][44]. Strategic Initiatives and Future Plans - The company aims to enhance its product development, brand marketing, and multi-channel sales capabilities to improve consumer shopping experiences[16]. - The company aims to enhance its competitiveness by increasing investments in information technology and enriching management talent in design, development, supply chain, and marketing[20][23]. - The company is committed to becoming an internationally renowned operator of fashionable apparel and footwear products, providing timely and seamless service to global consumers[21][23]. - The Group plans to continue expanding sales channels and market coverage as part of its future strategies[107]. - The company anticipates that fiscal year 2023 will be a challenging year due to global economic conditions and high inflation in certain regions[106]. - The company aims to enhance its product innovation capabilities and increase the premium of new products[114]. - The company plans to increase investment in branding to raise the market share of core brands[114]. - The company will continue to invest in digital management capabilities to improve operational efficiency[114]. - The company intends to expand its management talent in supply chain and marketing to strengthen competitive advantages[114]. Management and Governance - Mr. Dong Zhenguo has over nine years of experience in sales and marketing, overseeing the management of self-operated online stores[128]. - Mr. Xu Shijian has more than twenty years of experience in finance and business management, responsible for financial management and compliance[132]. - Ms. Hua Hui was appointed to promote gender diversity at the Board level, having previously served as the sales director for seven years[136]. - The company has expanded its management team with experienced professionals in various roles to enhance operational efficiency[130][134]. - The management team is expected to drive the Group's business development and operational strategies effectively[136]. - The company emphasizes the importance of technology strategies in product development and operational efficiency[156]. - The management team collectively brings years of experience from various industries, contributing to the company's growth and innovation[164]. Risks and Challenges - Major risks include disruptions in relationships with third-party platforms like Amazon and Wish, which could adversely affect business operations[190]. - The company does not manufacture products but relies on OEM suppliers, making it vulnerable to supply shortages or quality issues[190]. - The company recognizes its social responsibilities in monitoring and reducing environmental risks associated with its operations[190]. - The company operates in the competitive cross-border e-commerce export B2C apparel and footwear industry in China, facing risks that could materially affect its customer base, market share, and profitability[193]. - Changes in international trade policies and the ongoing U.S.-China trade conflict could adversely affect the company's business[193]. - The company is subject to risks associated with foreign exchange rate fluctuations[193]. Operational Efficiency - Selling expenses and distribution costs increased by approximately 47.5% to approximately RMB2,085.9 million for the year ended 31 December 2022 from approximately RMB1,413.7 million for the year ended 31 December 2021[59][61]. - General and administrative expenses rose by approximately RMB33.1 million to approximately RMB142.1 million for the year ended 31 December 2022 from approximately RMB109.0 million for the year ended 31 December 2021[60][62]. - The Group's focus on self-operated online stores is a key strategy for driving sales growth and improving customer engagement[128]. - The company emphasizes maintaining good relationships with suppliers and providing high-quality services to customers, which are crucial for creating value[185]. - The management actively establishes risk management and internal control mechanisms to address operational, financial, and regulatory risks[191].

Annual Performance Announcement - The company provided a supplementary announcement regarding its annual performance for the year ended December 31, 2022[1]. - The announcement includes details about the suspension of share transfer registration from June 15 to June 20, 2023, to determine eligibility for the annual general meeting[1]. - All transfer documents must be submitted by June 14, 2023, at 4:30 PM to qualify for the meeting[1]. Governance Structure - The board of directors includes both executive and independent non-executive members, ensuring diverse governance[2].

Financial Performance - Revenue for the year ended December 31, 2022, was RMB 3,066,331 thousand, representing a 30.7% increase from RMB 2,346,543 thousand in 2021[2] - Gross profit for the same period was RMB 2,347,755 thousand, up 33.0% from RMB 1,765,535 thousand in 2021[3] - Profit before tax decreased to RMB 127,190 thousand, down 46.5% from RMB 237,631 thousand in the previous year[3] - Net profit attributable to shareholders was RMB 110,694 thousand, a decline of 44.8% compared to RMB 200,509 thousand in 2021[2] - Basic and diluted earnings per share were RMB 0.24, down from RMB 0.44 in the previous year[3] - Total revenue for the year ended December 31, 2022, was RMB 110,694,000, a decrease from RMB 200,509,000 in 2021, resulting in a basic earnings per share of RMB 0.24 compared to RMB 0.44 in the previous year[29] - The company's net profit attributable to shareholders was approximately RMB 110.7 million, a decrease of about 44.8% compared to RMB 200.5 million in 2021[43] Assets and Liabilities - Total assets increased to RMB 1,360,708 thousand, compared to RMB 1,019,675 thousand in 2021, reflecting a growth of 33.5%[4] - Total liabilities decreased to RMB 573,387 thousand from RMB 646,699 thousand, a reduction of 11.3%[5] - Cash and cash equivalents at year-end rose to RMB 294,539 thousand, significantly up from RMB 80,855 thousand in 2021[6] - The debt-to-asset ratio improved from approximately 63.4% as of December 31, 2021, to about 42.1% as of December 31, 2022, due to the conversion of redeemable convertible preferred shares into ordinary shares and increased equity from retained earnings[63] Revenue Sources - Revenue from third-party e-commerce platforms was RMB 2,939,005,000, up from RMB 2,052,279,000 in the previous year, indicating a growth of 43.0%[14] - The North America region generated revenue of RMB 2,949,292,000 in 2022, a significant increase of 45.4% from RMB 2,029,381,000 in 2021[13] - Revenue through the company's self-operated website decreased to RMB 116,156,000 in 2022 from RMB 257,319,000 in 2021, a decline of 54.8%[14] Expenses - The total cost of sales, selling expenses, and general and administrative expenses for the year ended December 31, 2022, was RMB 2,946,527,000, compared to RMB 2,103,682,000 in 2021, reflecting an increase of 40%[19] - Sales and distribution expenses increased by approximately 47.5% to about RMB 2,085.9 million, primarily due to increased shipping and insurance costs[53] - General and administrative expenses rose to approximately RMB 142.1 million, an increase of about RMB 33.1 million from the previous year[54] Cash Flow - Operating cash flow for the year was RMB 92,084 thousand, recovering from a cash outflow of RMB 207,049 thousand in the previous year[6] - The company issued new shares post-listing, raising RMB 210,818 thousand, contributing to its financing activities[6] Shareholder Information - The company proposed a final dividend of HKD 0.05 per share for the year ended December 31, 2022, totaling approximately RMB 21,885,000, compared to no dividend in 2021[27] - The board proposed a final dividend of HKD 0.05 per share for the year ended December 31, 2022, compared to no dividend in 2021, subject to shareholder approval on June 20, 2023[69] Corporate Governance - The company has adhered to the corporate governance code since its listing, with the exception of the separation of the roles of Chairman and CEO, which are held by the same individual, Mr. Hua[71] - The audit committee, consisting of three independent non-executive directors, has reviewed the audited consolidated results for the year ended December 31, 2022, confirming compliance with applicable accounting principles[76] - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[70] Future Outlook - The company plans to continue expanding sales channels and markets, enhance product innovation capabilities, and increase brand investment to improve market share[68] - The company anticipates that the fiscal year 2023 will remain challenging due to ongoing global economic recovery issues and high inflation in Europe and the United States[67] Inventory and Receivables - The company’s total inventory provision increased to RMB 54,768,000 in 2022 from RMB 21,162,000 in 2021, indicating a growing concern over inventory management[19] - Trade receivables as of December 31, 2022, amounted to RMB 176,792,000, an increase of 47.5% from RMB 119,825,000 as of December 31, 2021[32] - The provision for impairment of trade receivables increased to RMB 884,000 as of December 31, 2022, from RMB 599,000 as of December 31, 2021, indicating a rise in expected credit losses[34] Significant Events - The company went public on November 11, 2022, with shares listed on the Hong Kong Stock Exchange[80] - There were no significant events affecting the group after the fiscal year ended December 31, 2022[70]