Financial Performance - The company achieved a net profit of ¥4,710,740,796.76 for the year 2022, with a year-end distributable profit of ¥25,191,310,438.16[9]. - In 2022, the company's operating revenue reached ¥14.82 billion, an increase of 8.92% compared to ¥13.61 billion in 2021[34]. - The net profit attributable to shareholders was ¥5.07 billion, a slight decrease of 1.15% from ¥5.13 billion in the previous year[34]. - The net cash flow from operating activities turned negative at -¥1.94 billion, a decline of 282.23% compared to ¥1.06 billion in 2021[34]. - The total assets decreased by 3.05% to ¥77.78 billion from ¥80.22 billion in 2021[34]. - The net assets attributable to shareholders increased by 11.56% to ¥37.93 billion from ¥34.00 billion in the previous year[34]. - Basic earnings per share were ¥1.11, down 1.77% from ¥1.13 in 2021[34]. - Diluted earnings per share were ¥1.10, a decrease of 3.51% compared to ¥1.14 in the previous year[34]. - The company reported a significant decrease in gross profit margin of 0.79% compared to the previous year, indicating challenges in maintaining profitability[125]. - The company reported a net profit of ¥2.12 billion in Q1 2022, which represents a decrease compared to the previous year[38]. Dividend and Shareholder Returns - The board proposed a cash dividend of ¥0.5 per share, totaling ¥2,311,770,951, which represents 45.62% of the net profit attributable to shareholders for 2022[10]. - The company distributed a cash dividend of 5.00 RMB per 10 shares, totaling 2,311,770,951 RMB, which represents 45.62% of the net profit attributable to shareholders in the consolidated financial statements[195]. - Since its listing in 1998, the company has implemented cash dividends 24 times, with a total distribution of 26.419 billion RMB, maintaining a payout ratio of 52.94% of net profit[196]. Strategic Initiatives - The company invested ¥2 billion to build fashion experience centers in key cities across the country, aiming to explore new business models[5]. - The company adjusted its sixth five-year plan to focus on becoming a world-class fashion group, enhancing its core brand while optimizing its high-end brands[4]. - The company plans to continue international brand collaborations, successfully launching brands UND and HH in the market[4]. - Future strategies include the development of new products and potential mergers and acquisitions to strengthen market position[24]. - The company aims to leverage its full industry chain advantages to maintain its competitive edge in the apparel sector[24]. - The company is focusing on expanding its market presence and enhancing its product offerings through innovation and technology[24]. Market and Operational Challenges - The overall retail sales of clothing in China decreased by 6.5% year-on-year, indicating a challenging market environment[63]. - The fashion segment reported operating revenue of CNY 631,724.38 million, with net profit attributable to shareholders declining by 33.70% to CNY 62,044.00 million due to reduced foot traffic and operational challenges[50]. - The company closed 212 stores and opened only 8 new stores in the fashion segment, resulting in a net decrease in store count[51]. - The company faced an increase in tax payments by ¥108 million compared to the previous year, contributing to the cash flow decline[36]. - The company experienced a cash inflow of ¥1.07 billion in Q4 2022, contrasting with negative cash flows in the first three quarters[38]. Investment and Development - The company has reduced its investment in real estate development to mitigate risks associated with the real estate market[5]. - The company has a strategic focus on expanding its investment in real estate development, with significant investments planned for the upcoming period[114]. - The company has initiated new projects in Shanghai and Ningbo, with total planned investment amounts of approximately RMB 293.52 million and RMB 285.15 million respectively[115]. - The company reported a total construction area of 1,000,000 square meters across various projects, with significant contributions from residential and commercial developments[115]. - The company has several ongoing projects in Ningbo, with total planned investments ranging from RMB 126.18 million to RMB 446.91 million[115]. Corporate Governance and Compliance - The board of directors held 11 meetings, reviewing 34 proposals, ensuring compliance with governance standards and enhancing decision-making capabilities[158]. - The company held 8 supervisory board meetings during the reporting period, passing 12 resolutions, ensuring compliance with legal requirements[160]. - The company disclosed 4 regular reports and 59 temporary announcements, maintaining a 100% response rate to investor inquiries[161]. - The company received over 1,500 investor calls and held 3 performance briefings, effectively communicating corporate value to stakeholders[162]. - There were no incidents of information leakage regarding insider information during the reporting period[163]. Employee and Talent Management - The company has a total of 18,480 employees, with 8,276 in sales, 5,753 in production, and 843 in technical roles[188]. - The company has established a salary system that combines position-based pay and performance rewards, aiming to enhance employee satisfaction and loyalty[192]. - The company has implemented a training program focusing on management skills and professional capabilities, enhancing the overall competency of its workforce[193]. - The company plans to enhance talent development and retention to mitigate risks associated with talent shortages during its transformation[152]. Research and Development - The total R&D expenditure was 8,192.53 million, accounting for 0.55% of total revenue, with no capitalized R&D expenses[95]. - The company is engaged in multiple R&D projects, including the development of high-performance fabrics and smart clothing technologies[101]. - The company has 843 R&D personnel, making up 4.56% of the total workforce, with a focus on enhancing digital transformation and smart manufacturing[96]. Risk Management - The company faces risks from macroeconomic fluctuations and potential tightening of real estate policies, which could impact profitability[148][149]. - The company has committed to long-termism and increased brand investment while ensuring a healthy and stable future development[5].

Financial Performance - Revenue for 2022 reached RMB 14,821,202,773.20, an increase of 8.92% compared to 2021[19] - Net profit attributable to shareholders in 2022 was RMB 5,067,521,090.85, a slight decrease of 1.15% from 2021[19] - Operating cash flow in 2022 was negative RMB 1,935,452,878.58, a significant decrease of 282.23% compared to 2021[19] - Total assets at the end of 2022 were RMB 77,777,073,651.36, a decrease of 3.05% from the end of 2021[19] - Basic earnings per share (EPS) for 2022 was RMB 1.11, a decrease of 1.77% from 2021[20] - Weighted average return on equity (ROE) for 2022 was 14.07%, a decrease of 2.1 percentage points from 2021[20] - Revenue in Q1 2022 was RMB 7,425,879,341.84, the highest among all quarters[22] - Net profit attributable to shareholders in Q1 2022 was RMB 2,117,647,330.18, the highest among all quarters[22] - Operating cash flow in Q1 2022 was negative RMB 1,530,407,975.14, the lowest among all quarters[22] - The company's total distributable profit at the end of 2022 was 25,191,310,438.16 yuan, including retained earnings from previous years and other comprehensive income[5] - The company's total share capital as of December 31, 2022, was 4,628,902,973 shares, with 5,361,071 shares held in the repurchase account[5] - The company's cash dividend distribution plan is based on the total share capital minus the repurchased shares, ensuring consistent dividend per share regardless of changes in total share capital[5] - The company achieved a net profit of 4,710,740,796.76 yuan in 2022, with a proposed cash dividend of 0.5 yuan per share, totaling 2,311,770,951 yuan, representing 45.62% of the net profit attributable to shareholders[5] - Revenue for 2022 reached 148.21 billion yuan, a year-on-year increase of 8.92%[28] - Net profit attributable to shareholders was 50.68 billion yuan, a year-on-year decrease of 1.15%[28] - The company's total operating revenue for 2022 reached 1,482,120.28 million yuan, a year-on-year increase of 8.92%[40] - Net profit attributable to shareholders of the listed company was 506,752.11 million yuan, a year-on-year decrease of 1.15%[40] - The company's 2022 main business revenue was 145.98 billion yuan, a 9.10% increase compared to 2021[169] - Total revenue for 2022 reached RMB 14,821,202,773.20, a 8.9% increase from RMB 13,606,863,113.97 in 2021[181] - Net profit attributable to shareholders increased to RMB 25,191,310,438.16 in 2022, up from RMB 22,393,882,882.72 in 2021[180] - Total assets grew to RMB 55,583,389,860.43 in 2022, compared to RMB 54,527,796,181.49 in 2021[179] - Long-term equity investments increased to RMB 31,022,131,845.69 in 2022, up from RMB 29,597,152,557.86 in 2021[178] - Short-term borrowings decreased to RMB 8,968,313,388.88 in 2022, down from RMB 11,110,966,944.46 in 2021[179] - R&D expenses rose to RMB 81,925,276.12 in 2022, a 17.1% increase from RMB 69,931,286.06 in 2021[181] - Investment income reached RMB 3,306,375,393.64 in 2022, up from RMB 3,056,964,094.95 in 2021[181] - Total liabilities decreased to RMB 21,627,644,896.73 in 2022, down from RMB 23,250,691,210.90 in 2021[179] - Cash and cash equivalents remained stable at RMB 8,541,019,597.81 in 2022, compared to RMB 8,559,896,251.03 in 2021[178] - Other receivables increased to RMB 13,063,231,046.66 in 2022, up from RMB 10,044,362,645.93 in 2021[178] - Net profit attributable to parent company shareholders was RMB 5,067,521,090.85, a slight decrease from RMB 5,126,663,023.71 in the previous year[182] - Total comprehensive income for the year was RMB 5,554,026,619.66, compared to RMB 7,295,380,644.52 in the previous year[183] - Basic earnings per share (EPS) were RMB 1.11, down from RMB 1.13 in the previous year[183] - Total operating income for the parent company was RMB 620,594.22, an increase from RMB 366,409.92 in the previous year[184] - Investment income for the parent company was RMB 5,240,454,074.79, up from RMB 4,273,393,631.30 in the previous year[184] - Total profit for the parent company was RMB 4,782,803,992.19, compared to RMB 3,976,871,929.02 in the previous year[185] - Net profit for the parent company was RMB 4,710,740,796.76, an increase from RMB 3,984,775,259.62 in the previous year[185] - Other comprehensive income after tax for the parent company was RMB -223,182,744.54, compared to RMB 454,587,256.58 in the previous year[185] - Total comprehensive income for the parent company was RMB 4,487,558,052.22, slightly up from RMB 4,439,362,516.20 in the previous year[185] - Sales revenue from goods and services in 2022 was RMB 10,032,417,542.54, a decrease of 15.3% compared to RMB 11,845,694,311.82 in 2021[186] - Net cash flow from operating activities in 2022 was negative RMB 1,935,452,878.58, a significant decline from positive RMB 1,062,075,357.26 in 2021[186] - Net cash flow from investing activities in 2022 was RMB 6,041,236,305.52, a substantial increase from RMB 257,737,217.20 in 2021[187] - Cash received from investments in 2022 was RMB 4,513,891,122.76, a significant increase from RMB 668,098,531.03 in 2021[186] - Cash received from investment returns in 2022 was RMB 1,257,242,634.61, up from RMB 1,022,338,183.12 in 2021[186] - Net cash flow from financing activities in 2022 was negative RMB 3,447,071,375.18, compared to negative RMB 1,894,114,668.05 in 2021[187] - Cash received from borrowing in 2022 was RMB 26,015,118,926.44, an increase from RMB 23,114,210,000.00 in 2021[187] - Cash and cash equivalents at the end of 2022 were RMB 11,418,091,891.62, up from RMB 10,751,463,856.86 at the end of 2021[187] - Cash received from other financing activities in 2022 was RMB 261,413,680.59, a significant decrease from RMB 5,270,980,350.01 in 2021[187] - Cash paid for debt repayment in 2022 was RMB 25,376,899,804.32, slightly lower than RMB 26,061,637,933.33 in 2021[187] - Cash outflow from financing activities totaled RMB 47.04 billion, a 3.0% increase compared to the previous period[189] - Net cash flow from financing activities was negative RMB 3.92 billion, a significant decline from the positive RMB 1.08 billion in the previous period[189] - The company's total owner's equity increased by RMB 3.94 billion to RMB 38.11 billion at the end of the period[193] - Comprehensive income for the period amounted to RMB 5.56 billion, driven by a RMB 5.07 billion increase in undistributed profits[191] - The company allocated RMB 2.31 billion for profit distribution to shareholders, a decrease from the previous period[192] - Capital reserve increased by RMB 370.80 million, primarily due to equity incentive plans[191] - The company's cash and cash equivalents decreased by RMB 18.88 million, with a year-end balance of RMB 8.54 billion[189] - The company's total assets increased by RMB 3.94 billion, reaching RMB 38.11 billion at the end of the period[193] - Total comprehensive income for the year reached 7,286,288,193.90 RMB, reflecting strong financial performance[195] - Owner's equity increased by 5,464,763,656.17 RMB, driven by comprehensive income and capital injections[195] - The company allocated 2,314,451,486.50 RMB for profit distribution to shareholders, impacting retained earnings[196] - Capital reserves saw a significant increase of 236,230,648.97 RMB due to other adjustments[197] - Total owner's equity at the end of the period stood at 34,171,657,108.08 RMB, marking a substantial growth[197] - Comprehensive income for the year contributed 4,487,558,052.22 RMB to owner's equity, highlighting profitability[198] - Owner's equity adjustments included a reduction of 2,311,720,951.00 RMB due to profit distribution[199] - Other comprehensive income adjustments resulted in a decrease of 621,940,454.22 RMB, affecting overall equity[198] - The company's capital reserve increased by 187,317,891.89 RMB, reflecting strategic financial management[198] - Retained earnings grew by 2,797,427,555.44 RMB, indicating strong internal reinvestment[198] - The company's total comprehensive income for the year amounted to 4,439,362,516.20[200] - Total owner's equity at the beginning of the year was 28,741,678,233.76[200] - The company allocated 2,314,451,486.50 for distribution to owners (or shareholders)[200] - Capital reserves increased by 1,271,110,656.85 during the year[200] - The company's retained earnings at the beginning of the year were 21,122,772,225.87[200] - A total of 384,162,377.63 was allocated for the extraction of surplus reserves[200] - The company's capital reserves decreased by 384,162,377.63 due to owner's equity adjustments[200] - The company's total owner's equity at the end of the year was 31,277,104,970.59[200] - The company's capital reserves increased by 356,719,152.76 during the year[200] - The company's retained earnings decreased by 2,698,613,864.13 due to profit distribution[200] Business Strategy and Operations - The company invested 2 billion yuan to establish YOUNGOR Fashion Experience Halls in key cities across China to explore new business models integrating online and offline channels[2] - The company adjusted its brand strategy, positioning MAYOR as a high-end luxury brand, HSM as an urban leisure brand, and HANP as a health and eco-friendly brand[2] - The company introduced international brands UND and HH to the market, which were well-received[2] - The company reduced its investment in real estate development to mitigate risks and ensure stable future growth[2] - The company's core business remains the fashion industry, with additional operations in real estate and investments[36] - The company's YOUNGOR brand has maintained the top market share in China for shirts for 26 consecutive years and for suits for 23 consecutive years[37] - The company's direct sales channels account for over 95% of total sales revenue[39] - The company's brand shirt segment achieved an operating revenue of 157,495.17 million yuan, with a gross profit margin of 76.05%[43] - The company's real estate development segment in Ningbo achieved an operating revenue of 830,477.39 million yuan, with a gross profit margin of 47.90%[43] - Shirt production decreased by 7.94% to 563.81 million units, while sales dropped by 17.45% to 510.75 million units, with inventory increasing by 7.23% to 414.82 million units[44] - Suit production fell by 11.52% to 72.89 million sets, sales declined by 17.25% to 69.06 million sets, and inventory rose by 2.40% to 50.36 million sets[44] - Pants production decreased by 9.05% to 220.01 million pairs, sales dropped by 11.37% to 211.25 million pairs, and inventory fell by 2.12% to 165.85 million pairs[44] - Direct material costs for brand clothing decreased by 12.51% to 95,026.39 million yuan, accounting for 65.63% of total costs[46] - Land costs for real estate development increased by 35.97% to 248,410.49 million yuan, representing 57.33% of total costs[46] - The top five customers accounted for 2.67% of total sales, with sales amounting to 38,921.48 million yuan, of which 5,409.42 million yuan were from related parties[48] - The top five suppliers accounted for 15.23% of total procurement, with purchases amounting to 69,800.61 million yuan, none of which were from related parties[48] - R&D investment totaled 8,192.53 million yuan, accounting for 0.55% of total revenue[49] - The company has 843 R&D personnel, representing 4.56% of the total workforce, with 176 holding bachelor's degrees and 282 holding associate degrees[50] - Key R&D projects in 2022 included the development of high-count cotton silk hemp DP shirts and intelligent temperature-controlled DP non-iron shirts[53] - Transactional financial assets decreased by 82.26% to 11,011.68 million yuan, mainly due to the redemption of some financial products and structured deposits[55] - Other receivables decreased by 48.35% to 288,098.67 million yuan, primarily due to the recovery of cooperative development project funds in the real estate sector[55] - Investment property increased by 237.04% to 216,433.51 million yuan, mainly due to the transfer of the Puji Hospital project and Hongqiao T8 Building from fixed assets to investment property[55] - Contract liabilities decreased by 42.01% to 744,089.24 million yuan, mainly due to a reduction in prepayments for real estate sales[55] - Non-current liabilities due within one year increased by 59.93% to 360,690.06 million yuan, primarily due to an increase in long-term loans due within one year[55] - Overseas assets amounted to 758,097.31 million yuan, accounting for 9.75% of total assets[56] - The company holds 100,000 million shares of CITIC Limited with a market value of 736,079.20 million yuan and 1,399.52 million shares of Midea Real Estate with a market value of 15,051.80 million yuan[57] - Restricted assets totaled 581,686.89 million yuan, including 557,470.06 million yuan of inventory restricted due to mortgage loans for real estate buyers[58] - The company holds 139,900 square meters of land in Cichanghe and 215,558.13 square meters in Yunnan, with planned construction areas of 231,200 square meters and 517,339 square meters respectively[60] - The total investment in the Shanghai Xinghai Yunjing project is 293,517.26 million yuan, with an actual investment of 212,997.15 million yuan in the reporting period[61] - The Ningbo Jiangshang Yunjing project has a total investment of 285,151.42 million yuan, with an actual investment of 222,571.47 million yuan in the reporting period[61] - The Ningbo Minghu Yiqiu project has a total investment of 395,310.93 million yuan, with an actual investment of 131,112.54 million yuan in the reporting period[61] - The Wenzhou Future City project has a total investment of 794,289.12 million yuan, with an actual investment of 719,717.81 million yuan in the reporting period[61] - The Lanzhou Yageer Times Star project has a total investment of 147,175.23 million yuan, with an actual investment of 108,330.17 million yuan in the reporting period[61] - The Ningbo Haishu CX08-04-03f/04c project has a total investment of 378,800.00 million yuan, with an actual investment of 254,356.74 million yuan in the reporting period[61] - The Ningbo Jiangshang Yin project has a total investment of 446,907.00 million yuan, with an actual investment of 407,375.96 million yuan in the reporting period[61] - The Shanghai Lingang Rongchuang Chuangcheng Yayuan project has a total investment of 419,917.38 million yuan, with an actual investment of 306,916.21 million yuan in the reporting period[61] - The Zhuhai Jinwan Baolong City project has a total investment of

股票简称：雅戈尔 股票代码：600177 编号：临 2023-016 ● 会议召开时间：2023 年 5 月 23 日（星期二）上午 10:00-11:30 ● 会议召开地点：上海证券交易所上证路演中心 （网址：http://roadshow.sseinfo.com/） ● 会议召开方式：自行视频录制与网络文字问答相结合 ● 投资者可于 2023 年 5 月 16 日（星期二）至 5 月 22 日（星期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@youngor.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回 答。 雅戈尔集团股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 雅戈尔集团股份有限公司（以下简称"公司"）已于 2023 年 4 月 29 日在上 海证券交易所网站（http://www.sse.com.cn）披露了《2022 年年度报告》，为便于 广大投资者更全面深入地了解公司 2022 年度 ...

Financial Performance - The company's net profit for 2021 was ¥3,984,775,259.62, with a statutory reserve of ¥384,162,377.63[20]. - The total cash dividend for 2021 amounted to ¥2,708,008,028.59, representing 52.82% of the net profit attributable to shareholders[19]. - The net profit attributable to shareholders decreased by 29.15% to approximately CNY 5.13 billion in 2021[37]. - The net profit after deducting non-recurring gains and losses increased by 41.34% to approximately CNY 4.44 billion[37]. - The company's operating revenue for 2021 was approximately CNY 13.61 billion, an increase of 18.57% compared to 2020[37]. - The basic earnings per share for 2021 was CNY 1.13, down 27.56% from 2020[38]. - The weighted average return on equity decreased by 9.86 percentage points to 16.17%[38]. - The total distributable profit at the end of the period was ¥22,393,882,882.72[20]. Shareholder Returns - The board proposed a cash dividend of 0.50 yuan per share (before tax), based on a total share capital of 4,629,002,973 shares as of December 31, 2021, resulting in a total cash dividend distribution of 2,311,820,951 yuan (before tax), which accounts for 45.09% of the net profit attributable to shareholders for the year 2021[21]. - The total amount spent on share repurchase in 2021 was ¥396,187,077.59, which is included in the cash dividend calculation for the year[19]. - No bonus shares will be issued, nor will there be a capital reserve fund conversion into share capital for the current year[21]. Strategic Initiatives - The company is focusing on multi-brand strategies and has begun to independently operate its brands to enhance growth potential[5]. - The company is exploring acquisitions and collaborations with domestic and international brands, including sports and trendy brands like HH and UND[5]. - The company aims to enhance management through digital transformation, achieving standardization, automation, and intelligence in its operations[6]. - The company is committed to integrating online and offline channels to strengthen brand management and adapt to market changes[6]. - The past year has been a transformative period for the company, requiring continuous innovation and adaptation in strategy and tactics[5]. - The company is entering a new phase of innovation and entrepreneurship, focusing on sustainable growth and social responsibility[6]. Real Estate Segment - The real estate segment achieved a net profit attributable to shareholders of approximately CNY 1.75 billion, a growth of 39.50% year-on-year[40]. - The net cash outflow from the real estate sector was approximately CNY 1.34 billion, a significant increase in net outflow compared to the previous year[40]. - The real estate segment generated operating revenue of RMB 666,540.76 million, up 31.44% year-on-year, with a net profit attributable to shareholders of RMB 228,925.07 million, an increase of 38.17%[85]. - The company has 13 ongoing projects with a total construction area of 1,443,700 square meters and land reserves of 258,500 square meters, with planned development area of 668,800 square meters[73]. Fashion Segment - The fashion segment generated revenue of RMB 682,112.21 million, with a year-on-year growth of 7.69%[50]. - The fashion segment reported operating revenue of RMB 682,112.21 million, a growth of 7.69%, with a net profit of RMB 93,577.43 million, down 2.55%[85]. - The company established YOUNGOR Fashion (Shanghai) Technology Co., Ltd. to enhance brand influence and explore international collaborations[51]. - The company acquired a 40% stake in the American streetwear brand Undefeated, forming a joint venture to target younger consumer groups[51]. Online and Offline Integration - The company has optimized its store network, reducing the total number of outlets by 205 to 2,166, while enhancing the efficiency of its retail structure[69]. - The online GMV surpassed 1 billion yuan, with the company's Tmall flagship store ranking first in men's business apparel during major promotional events[69]. - Online sales revenue reached ¥72,518.27 million with a gross margin of 68.27%, while offline sales revenue was ¥521,307.74 million with a gross margin of 74.84%[116]. Research and Development - The total R&D expenditure amounted to 6,993.13 million, representing 0.51% of total revenue, with no capitalized R&D expenses[98]. - The total number of R&D personnel is 669, accounting for 3.51% of the company's total workforce[99]. - The company has 43 R&D projects planned for 2021, focusing on innovations such as wrinkle-resistant shirts and antibacterial fabrics[102]. - The company has completed 20 technology improvement projects in the textile materials research institute, including seamless pressing technology and intelligent temperature control[101]. Environmental and Compliance - The company has adhered to environmental protection laws and regulations, ensuring compliance in its operations and projects[179]. - The company has implemented a wastewater treatment facility with a daily capacity of 1,000 tons, achieving compliance with the textile dyeing industry's wastewater discharge standards[176]. - Actual wastewater discharge for CODcr was 3.79 tons per annum, well below the standard limit of 200 mg/l, indicating effective pollution control measures[175]. - The company has publicly disclosed its environmental monitoring data through the national pollution source monitoring platform, promoting transparency[179]. Corporate Governance - The company held 1 annual and 1 extraordinary shareholders' meeting, ensuring compliance with legal procedures and protecting minority shareholders' rights[135]. - The board of directors convened 10 meetings, reviewing 38 proposals, with 3 independent directors ensuring objective decision-making[137]. - The company has established independent operational capabilities, ensuring no reliance on the controlling shareholder in business, personnel, and financial matters[143]. - The company has a structured management team with clear roles and responsibilities outlined for each member[146]. Employee Management - The total number of employees at the parent company and major subsidiaries is 19,034, with 210 at the parent company and 18,824 at subsidiaries[160]. - The employee composition includes 5,660 production staff, 8,845 sales personnel, and 669 technical staff[161]. - The company has a diverse salary system that combines position-based pay and performance rewards, enhancing employee satisfaction and loyalty[163]. - The company has conducted internal training programs focusing on management skills, professional skills, and safety training for employees[164].

Financial Performance - The net profit for the parent company in 2021 was CNY 3,984,775,259.62, with a statutory reserve of CNY 384,162,377.63, resulting in a total distributable profit of CNY 22,393,882,882.72 at year-end [3]. - The cash dividend proposed is CNY 0.50 per share, totaling CNY 2,311,820,951, which represents 45.09% of the net profit attributable to shareholders for 2021 [3]. - The total cash dividend, including share repurchase amounts, is CNY 2,708,008,028.59, accounting for 52.82% of the net profit attributable to shareholders for 2021 [3]. - The company's operating revenue for 2021 was approximately CNY 13.61 billion, an increase of 18.57% compared to CNY 11.48 billion in 2020 [16]. - The net profit attributable to shareholders for 2021 was approximately CNY 5.13 billion, a decrease of 29.15% from CNY 7.24 billion in 2020 [16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately CNY 4.44 billion, an increase of 41.34% compared to CNY 3.14 billion in 2020 [16]. - The net cash flow from operating activities for 2021 was approximately CNY 1.06 billion, a decrease of 51.85% from CNY 2.21 billion in 2020 [16]. - The company's total assets at the end of 2021 were approximately CNY 80.22 billion, a slight increase of 0.26% from CNY 80.02 billion at the end of 2020 [16]. - The net assets attributable to shareholders at the end of 2021 were approximately CNY 34.00 billion, an increase of 19.14% from CNY 28.54 billion at the end of 2020 [16]. - The basic earnings per share for 2021 were CNY 1.13, a decrease of 27.56% from CNY 1.56 in 2020 [17]. - The weighted average return on net assets for 2021 was 16.17%, a decrease of 9.86 percentage points from 26.03% in 2020 [17]. Strategic Initiatives - The company is focusing on a multi-brand strategy to enhance brand management and control costs, indicating a shift towards independent brand operations [2]. - The company plans to strengthen brand construction and integrate online and offline sales channels to adapt to market changes [2]. - The company is exploring acquisitions and collaborations with domestic and international brands, particularly in the sports and trendy fashion sectors [2]. - The company aims to leverage digitalization to improve management and upgrade traditional industries, targeting standardization and automation [2]. - The company acknowledges the need for continuous innovation and transformation in response to increasing international competition and market uncertainties [2]. - The company has committed to providing quality services to society and maximizing returns for shareholders as part of its mission [2]. - The company plans to enhance its DTC (Direct to Consumer) model to better reach consumers and improve sales performance [11]. - The company is focusing on the development of new products and technologies, particularly in the area of sustainable materials like hemp [11]. - The company is focusing on building a diversified brand matrix to enhance its competitive advantage in the fashion industry [24]. - The company plans to enhance supply chain flexibility and improve production capacity balance in response to market changes [52]. Market Performance - The company reported a total of CNY 3.56 billion in operating revenue for Q4 2021, which was a decline compared to previous quarters [19]. - The company experienced a significant increase in cash flow from operating activities in the first three quarters, but faced a cash outflow in Q4, highlighting potential liquidity challenges [19]. - The company achieved a total revenue of 1,360,686.31 million CNY, representing a year-on-year growth of 18.57% [24]. - The company's core brand YOUNGOR maintained its market leadership in shirts and suits, with a revenue of 682,112.21 million CNY, up 7.69% year-on-year [24]. - The fashion segment's net profit was 93,577.43 million CNY, reflecting a slight decline of 2.55% compared to the previous year [24]. - The company reported a net profit of 444,404.36 million CNY after excluding non-recurring gains, marking a 41.34% increase year-on-year [24]. - The company achieved an online GMV exceeding 1 billion yuan, with its Tmall flagship store ranking first in the business men's clothing category during major sales events [37]. - The company’s retail space reached 489,500 square meters, with a 10% year-on-year increase in average store size [37]. - The company’s real estate business generated revenue of 666.54 million yuan, reflecting a year-on-year growth of 31.44% [40]. Research and Development - The company has established three research institutes focused on technology improvements, completing 43 projects related to shirts, suits, and fashion [38]. - The company’s R&D expenses increased by 4.10% to 6,717.86 million RMB, reflecting ongoing investment in innovation [47]. - Major R&D projects include the development of wrinkle-resistant shirts and antibacterial fabrics, with a focus on smart manufacturing technologies [58][59]. - The total R&D investment for the period was CNY 6,993.13 million, accounting for 0.51% of operating revenue [56]. Corporate Governance - The company has held 10 board meetings and reviewed 38 proposals, ensuring compliance with governance standards [97]. - YOUNGOR's information disclosure practices have been timely and accurate, with 4 periodic reports and 60 announcements made in 2021 [99]. - The company engaged with investors through over 1,500 phone calls and held 2 online earnings briefings, ensuring effective communication [100]. - The company emphasizes the importance of investor communication, ensuring no leakage of insider information during the reporting period [101]. - The company maintains complete independence from its controlling shareholders in terms of operations, personnel, assets, and finances [102]. - The company has a clear organizational structure with independent operation of the board and supervisory committee [102]. - The company has not faced any significant changes in competitive conditions that would affect its operations [102]. - The company has not reported any significant differences in governance compared to regulatory requirements [101]. Environmental and Social Responsibility - The company has a wastewater treatment facility with a daily capacity of 1,000 tons, meeting the required discharge standards [140]. - The actual discharge of CODcr was 3.79 tons per year, well below the standard limit of 200 mg/l [138]. - The company has complied with environmental regulations and has no administrative penalties for environmental issues during the reporting period [142]. - The company has established an emergency response plan for environmental incidents [141]. Shareholder Information - The total number of ordinary shareholders increased from 90,261 to 93,166 during the reporting period [175]. - The top ten shareholders held a total of 1,529,058,577 shares, representing 33.03% of the total share capital [176]. - The company completed a share buyback of 199,999,999 shares, accounting for 4.32% of the total share capital as of August 3, 2021 [171]. - The company will repurchase and cancel any restricted shares that do not meet the unlock conditions during the specified periods [179].