股票代码：600400 股票简称：红豆股份 编号：临 2023-048 江苏红豆实业股份有限公司 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： 会议召开时间：2023 年 6 月 12 日（星期一）16:00-17:00 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：上证路演中心网络文字互动 投资者可于 2023 年 6 月 5 日（星期一）至 2023 年 6 月 9 日（星期五） 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 （hongdou@hongdou.com）进行提问，公司将在业绩说明会上就投资者普遍关注 的问题进行回答。 江苏红豆实业股份有限公司（以下简称"公司"）已于 2023 年 4 月 21 日在 上海证券交易所网站（www.sse.com.cn）及《上海证券报》上披露了公司 2022 年年度报告及其摘要。为增进与投资者的沟通交流，使广大投资者 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 655,097,822.68, representing a year-on-year increase of 1.79%[5] - The net profit attributable to shareholders for the same period was CNY 31,457,747.04, reflecting a growth of 5.25% compared to the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 29,354,780.65, which is an increase of 22.06% year-on-year[5] - Total operating revenue for Q1 2023 reached ¥655,097,822.68, an increase from ¥643,596,789.32 in Q1 2022, representing a growth of approximately 1.8%[20] - Net profit for Q1 2023 was ¥31,199,195.36, compared to ¥30,948,868.62 in Q1 2022, reflecting a year-over-year increase of approximately 0.8%[22] - The company reported a total comprehensive income of ¥44,162,723.84 for Q1 2023, significantly higher than ¥9,447,738.61 in Q1 2022, representing an increase of approximately 366%[22] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 4,659,321,244.01, a decrease of 1.64% from the end of the previous year[6] - The company's total liabilities amounted to ¥1,579,773,570.56 as of Q1 2023, down from ¥1,690,588,074.17 in the previous year, showing a decrease of about 6.6%[21] - The total current liabilities decreased to 1,364,726,747.73 RMB from 1,464,042,341.52 RMB at the end of 2022[17] - The company’s total assets as of March 31, 2023, amounted to 4,659,321,244.01 RMB, a decrease from 4,736,952,307.03 RMB at the end of 2022[17] Cash Flow - The net cash flow from operating activities was CNY 7,382,812.54, with an increase attributed to enhanced cash collection efforts[7] - The net cash flow from operating activities for Q1 2023 was ¥7,382,812.54, a significant improvement compared to a net outflow of ¥123,841,908.29 in Q1 2022[26] - Total cash inflow from operating activities was ¥748,298,575.53, up from ¥670,804,538.42 in the previous year, indicating a growth of approximately 11.5%[26] - Cash outflow from operating activities decreased to ¥740,915,762.99 from ¥794,646,446.71, reflecting a reduction of about 6.8%[26] - The net cash flow from investing activities was ¥10,742,211.34, down from ¥103,164,204.06 in the same period last year[27] - The net cash flow from financing activities was -¥37,874,315.31, an improvement from -¥74,905,496.27 in Q1 2022[27] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 41,257[9] - The largest shareholder, Hongdou Group Co., Ltd., holds 60.04% of the shares, amounting to 1,382,708,418 shares[10] - The total equity attributable to shareholders reached ¥3,031,097,470.19 in Q1 2023, up from ¥2,987,447,401.49 in Q1 2022, marking an increase of approximately 1.5%[21] Business Operations - The company has not disclosed any new product developments or market expansion strategies in this report[4] - As of March 2023, the total number of stores for HOdo brand is 901, a decrease of 2 stores compared to the end of 2022[12] - For the first quarter of 2023, HOdo's men's clothing segment generated revenue of 48,629.94 million RMB, with a gross margin of 46.53%, down 6.95% year-over-year[13] - The total revenue for the first quarter of 2023 was 61,878.74 million RMB, with a gross margin of 38.19%, reflecting a slight increase of 0.84% compared to the previous year[13] - Direct stores contributed 15,803.40 million RMB in revenue with a gross margin of 63.43%, while franchise stores generated 11,122.23 million RMB with a gross margin of 27.48%[14] - Online sales accounted for 25.49% of total revenue in Q1 2023, with a gross margin of 51.45%, compared to 24.59% and 46.37% in Q1 2022[15] - The company plans to raise up to 118 million RMB through a private placement of up to 380 million shares to fund brand experience store upgrades and e-commerce center construction[14] - A new wholly-owned subsidiary, Wuxi Hodo Clothing Technology Co., Ltd., was established with a registered capital of 1 million RMB[15] Research and Development - Research and development expenses for Q1 2023 were ¥7,268,701.32, compared to ¥5,976,672.84 in Q1 2022, indicating an increase of about 21.6%[21] Tax and Deferred Liabilities - The company’s deferred income tax liabilities increased to ¥11,333,531.00 in Q1 2023 from ¥7,673,059.44 in Q1 2022, reflecting a rise of approximately 48.5%[21]

Financial Performance - The company's operating revenue for 2022 was approximately CNY 2.34 billion, a slight decrease of 0.06% compared to CNY 2.34 billion in 2021[21]. - The net profit attributable to shareholders of the listed company was CNY 15.04 million, down 80.46% from CNY 76.97 million in 2021[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 3.14 million, a decrease of 95.39% from CNY 68.21 million in 2021[21]. - The net cash flow from operating activities was CNY 107.33 million, a significant increase from CNY 2.60 million in 2021[21]. - The total assets at the end of 2022 were approximately CNY 4.74 billion, down 3.18% from CNY 4.89 billion at the end of 2021[21]. - The net assets attributable to shareholders of the listed company decreased by 4.71% to CNY 2.99 billion at the end of 2022 from CNY 3.14 billion at the end of 2021[21]. - Basic earnings per share for 2022 were CNY 0.01, a decrease of 66.67% compared to CNY 0.03 in 2021[23]. - The weighted average return on net assets was 0.47%, down 1.87 percentage points from 2.34% in 2021[23]. Revenue and Sales - In 2022, the company achieved total operating revenue of RMB 2,341.38 million, with clothing business revenue of RMB 2,041.16 million, representing a year-on-year growth of 4.57%[29]. - The company reported a total revenue of CNY 204,116.04 million, with a year-on-year increase of 4.57%[85]. - The revenue from online sales was CNY 53,036.61 million, representing 25.98% of total revenue, with a gross margin of 48.50%[84]. - The average revenue per store for direct stores that have been open for over 12 months was CNY 110.69 million in 2022, down from CNY 152.56 million in 2021[86]. Product Development and Innovation - The company launched new products such as "Add 1 Comfortable Pants" and "Comfortable Lightweight Down Jacket," utilizing advanced materials like TENCEL™ Modal fiber and HeiQ smart temperature control technology[31]. - The company launched several innovative products, including the "0感舒适衬衫" and "3D高弹裤," utilizing advanced 3D cutting techniques[50]. - The company is focusing on upgrading its offline stores, with a flagship store in Wuxi covering 1,000 square meters, aimed at reaching mid-to-high-end consumers[38]. - The company is committed to improving its e-commerce capabilities through refined management and partnerships with key platforms[100]. Market Strategy and Positioning - The company plans to continue its strategic focus on high-end market positioning and product development in the future[22]. - The company aims to strengthen its market presence in key provinces and industries through horizontal and vertical business expansion strategies[41]. - The company is actively expanding its retail channels, including traditional e-commerce and social media platforms, to enhance customer engagement[50]. - The company is targeting the professional clothing segment, including school uniforms and specialized workwear, to broaden its business scope[100]. Challenges and Risks - The company faced increased advertising and consulting expenses due to its high-end transformation and upgrade strategy, leading to a significant decrease in net profit[22]. - The textile industry faces challenges such as international uncertainties and demand recovery, but there are opportunities for domestic brands to leverage cultural confidence and market adjustments[96]. - The company faces risks in the apparel market due to high competition and consumer confidence recovery, prompting a focus on optimizing both offline and online marketing networks[102]. Corporate Governance and Management - The company adheres to strict governance practices, ensuring compliance with laws and regulations while maintaining transparency in shareholder rights and decision-making processes[106]. - The company has established a three-year shareholder return plan (2021-2023) to enhance shareholder value through cash dividends[106]. - The company maintains a clear separation between the controlling shareholder and its operations, ensuring independent management and decision-making[107]. - The company has implemented a robust performance evaluation and incentive mechanism to enhance the dedication of its board and management[108]. Environmental and Social Responsibility - The company invested 10.79 million RMB in environmental protection during the reporting period[151]. - The company achieved compliance with environmental discharge standards in its dyeing workshop, with non-methane total hydrocarbons at 1.25 mg/m3, particulate matter at 10 mg/m3, and hydrogen sulfide at <0.001 mg/m3[153]. - The company donated materials worth 199,500 CNY to the Jiangsu Women's and Children's Welfare Foundation for public health support in Yili[158]. Future Outlook - Future outlook indicates a projected revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion strategies[115]. - The company aims to increase its R&D budget by 25% to accelerate innovation and product development[115]. - A new marketing strategy will be implemented to enhance brand visibility and customer loyalty, targeting a 30% increase in customer retention rates[115].

Financial Performance - The company's operating revenue for Q3 2022 was ¥541,552,646.27, a decrease of 7.67% compared to the same period last year[7]. - The net profit attributable to shareholders was -¥5,411,893.58, with a year-to-date net profit of ¥46,284,280.63, reflecting a decline of 39.63% year-on-year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥8,670,417.53 for the quarter, with a year-to-date figure of ¥36,830,441.44, down 48.65% year-on-year[7]. - The total revenue for the company in the first nine months of 2022 was RMB 148,416.22 million, representing a year-on-year increase of 5.14%[21]. - The gross profit margin for the company's overall operations was 36.04%, an increase of 2.47% compared to the previous year[21]. - The company's total revenue for the first three quarters of 2022 reached approximately ¥1.67 billion, up from ¥1.62 billion in the same period of 2021, indicating a growth of about 3.5%[36]. - Net profit for the third quarter of 2022 was approximately ¥48.04 million, down from ¥80.26 million in the same quarter of 2021, reflecting a decline of about 40%[39]. - The net profit attributable to the parent company shareholders for the current period is ¥46,284,280.63, compared to ¥76,668,469.09 in the same period last year, representing a decrease of approximately 39.7%[43]. - The total comprehensive income attributable to the parent company owners is -¥17,985,784.81, a significant decline from ¥47,260,316.23 in the previous year[43]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was -¥51,094,063.90, showing an increase of 75.06% compared to the previous year[9]. - The cash inflow from operating activities totaled ¥1,639,342,923.62, compared to ¥1,525,635,636.23 in the same period last year, indicating an increase of approximately 7.4%[46]. - Cash outflow from operating activities was ¥1,690,436,987.52, slightly down from ¥1,730,478,145.29 in the previous year[46]. - The net cash flow from investing activities is ¥121,325,507.53, compared to ¥101,254,087.34 in the same period last year, showing an increase of approximately 19.8%[47]. - The net cash flow from financing activities is -¥309,740,174.05, worsening from -¥237,451,337.68 in the previous year[47]. - The ending balance of cash and cash equivalents is ¥695,136,907.97, compared to ¥671,225,820.60 in the same period last year, reflecting an increase of approximately 3.6%[47]. - The total assets at the end of the reporting period were ¥4,677,117,642.20, a decrease of 4.40% from the end of the previous year[10]. - The total current assets increased to approximately ¥1.91 billion from ¥1.83 billion, representing a growth of about 4.9% year-over-year[34]. - The company's total liabilities as of September 30, 2022, were approximately ¥1.65 billion, slightly up from ¥1.64 billion at the end of 2021, showing a marginal increase of about 0.1%[36]. - The cash and cash equivalents decreased to approximately ¥846.26 million from ¥997.29 million, a decline of about 15.2%[34]. - The inventory level increased significantly to approximately ¥224.02 million from ¥113.74 million, representing a growth of about 96.9%[34]. - The company's equity attributable to shareholders decreased to approximately ¥2.97 billion from ¥3.14 billion, a decline of about 5.3%[36]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,698, with the largest shareholder holding 66.03% of the shares[14]. - The basic and diluted earnings per share for the year-to-date period were both ¥0.00, a decrease of 33.33% compared to the previous year[9]. - The basic and diluted earnings per share for the current period are both ¥0.02, down from ¥0.03 in the same period last year[45]. Business Operations - The company faced challenges due to the impact of COVID-19 in multiple regions, affecting its high-end transformation and advertising expenses, leading to a decrease in net profit[12]. - The company opened 13 new direct stores and 40 franchise stores, while closing 45 direct stores and 98 franchise stores, resulting in a total of 911 physical stores by the end of the reporting period[25]. - Online sales accounted for 24.57% of total revenue, with a gross profit margin of 47.36%, compared to 21.61% and 39.02% for the same period last year[24]. - The revenue from the HOdo men's clothing brand was RMB 107,954.66 million, with a gross profit margin of 42.49%[21]. - The revenue from the OEM clothing segment was RMB 40,461.56 million, showing a significant year-on-year increase of 35.81%[21]. - The company’s direct stores experienced a revenue decline of 17.90%, while franchise stores saw a decline of 36.72% in revenue compared to the previous year[21]. Investments and Donations - The company plans to increase its investment in Wuxi Puxin Supply Chain Management Co., Ltd. by RMB 9.5 million to enhance its financial strength[26]. - The company has renamed its wholly-owned subsidiary to Shanghai Hongdou E-commerce Co., Ltd. and adjusted its business scope to include various retail and wholesale activities[26]. - The company donated 500 down jackets valued at RMB 199,500 to support pandemic prevention efforts[26]. Research and Development - Research and development expenses for the third quarter of 2022 were approximately ¥15.43 million, significantly higher than ¥7.78 million in the same quarter of 2021, indicating an increase of about 98.5%[39].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,125,641,426.56, representing a 9.01% increase compared to ¥1,032,647,907.01 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 31.17% to ¥51,696,174.21 from ¥75,104,485.19 year-on-year[20]. - The net profit after deducting non-recurring gains and losses was ¥45,500,858.97, down 36.06% from ¥71,161,886.00 in the previous year[20]. - The total revenue for the first half of 2022 was ¥1,125,641,426.56, an increase of 8.9% compared to ¥1,032,647,907.01 in the same period of 2021[155]. - The total profit for the first half of 2022 was ¥65,782,593.75, down from ¥99,747,221.85, indicating a decrease of approximately 34.1%[158]. - The company reported a total of 54.1 million CNY in expected daily related transactions for 2022, with actual transactions amounting to 25.48 million CNY during the reporting period, representing approximately 47% of the expected amount[100]. - The company reported a total revenue of approximately 4.07 billion CNY for the period, with a net profit of around 1.90 billion CNY, reflecting a significant financial performance[68]. Cash Flow and Investments - The net cash flow from operating activities was -¥144,803,308.04, an improvement of 12.29% compared to -¥165,090,205.15 in the same period last year[20]. - The cash inflow from operating activities for the first half of 2022 was CNY 1,098,572,260.42, an increase from CNY 1,024,935,024.09 in the same period of 2021, representing a growth of approximately 7.3%[166]. - The cash inflow from investment activities was CNY 164,822,451.19, a decrease from CNY 212,910,397.59 year-over-year[169]. - The net cash flow from investment activities was CNY 60,987,139.01, compared to CNY 55,589,947.67 in the previous year, indicating a slight increase[169]. - The company reported an investment income of ¥55,567,670.35, a 67.15% increase from ¥33,244,625.11, driven by higher returns from equity investments[45]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,586,809,043.18, a decrease of 6.25% from ¥4,892,495,142.55 at the end of the previous year[20]. - The total liabilities decreased from ¥1,639,630,709.40 to ¥1,514,090,627.06, a reduction of approximately 7.6%[147]. - The total equity attributable to shareholders decreased from ¥3,135,007,564.23 to ¥3,008,886,774.73, a decline of about 4.0%[147]. - The total inventory at the end of the reporting period was ¥159,274,897.18, a 40.04% increase from ¥113,736,539.52, attributed to increased order volumes in the professional clothing segment[48]. Market and Industry Challenges - The company faced challenges due to the impact of COVID-19 in multiple regions, leading to increased consulting and advertising expenses, which contributed to the decline in net profit[25]. - The textile and apparel industry faced challenges in the first half of 2022, with a 0.7% decline in total retail sales of consumer goods, and a 6.5% drop in retail sales of clothing, shoes, and textiles[30]. - The company faces market risks due to the competitive nature of the men's clothing sector and the impact of the COVID-19 pandemic on consumer behavior, which may lead to a decline in market share[69]. Research and Development - Research and development expenses increased by 107.13% to ¥9,873,061.37, compared to ¥4,766,493.32 in the previous year, reflecting a significant boost in R&D investment[45]. - The company has established a research center for comfortable men's clothing in collaboration with the China National Garment Association, focusing on innovation and development in the industry[33]. - The company emphasizes a user-centered approach in product development, focusing on "classic comfortable men's clothing" to enhance product experience and align with consumer demands[71]. Marketing and Sales - The company has established a full-channel marketing network, integrating online and offline sales, with a focus on second and third-tier cities in China[30]. - The company's online sales are primarily through major e-commerce platforms such as Tmall and JD.com, with social e-commerce rapidly growing[30]. - Online sales reached 251 million yuan, accounting for 24.90% of total sales, with the private domain operation of the Red Bean brand mini-program achieving a GMV of 192 million yuan[42]. - The company is enhancing its marketing strategies through innovative advertising and celebrity endorsements to strengthen brand recognition[41]. Shareholder and Equity Information - The total number of shareholders reached 29,675 by the end of the reporting period[123]. - Red Bean Group Co., Ltd. holds 1,565,825,418 shares, accounting for 67.99% of the total shares[123]. - The company has a total of 2,303,021,852.00 in paid-in capital, with a notable increase in other equity instruments amounting to 24,115,500.00[182]. - The total number of restricted shares at the end of the reporting period is 11,650,000, all attributed to equity incentives[124]. Environmental Compliance - The company’s dyeing workshop strictly adheres to pollution reduction requirements, achieving compliance with emission standards[82]. - The main pollutants emitted from the dyeing workshop include sulfur dioxide, nitrogen oxides, non-methane total hydrocarbons, and particulate matter, with emission concentrations well below the permitted limits[82]. - The company holds an environmental management system certification valid until January 19, 2024, covering various clothing products[86]. Future Outlook and Strategies - The company plans to continue expanding its logistics capabilities and enhance its investment strategies in the coming periods[57]. - The company is committed to digital transformation, aiming to build a customer-centric capability system to improve operational efficiency and adapt to changing consumer behaviors[71]. - The company is actively pursuing market expansion strategies and exploring potential mergers and acquisitions to enhance its competitive position[69].

Financial Performance - The company's operating revenue for Q1 2022 was ¥643,596,789.32, representing a year-on-year increase of 10.92% [6] - The net profit attributable to shareholders of the listed company was ¥29,887,996.86, a decrease of 41.03% compared to the same period last year [6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥24,048,825.44, down 48.98% year-on-year [6] - Basic and diluted earnings per share were both ¥0.01, reflecting a decline of 50.00% year-on-year [6] - The company's operating profit decreased to 38.45 million from 64.59 million, representing a decline of approximately 40.5% year-over-year [37] - Net profit attributable to shareholders decreased to 29.89 million from 50.68 million, a drop of about 41.0% compared to the previous year [37] - The total comprehensive income for the period was 9.45 million, contrasting with a loss of 9.68 million in the same quarter last year [37] - The company reported a net profit margin improvement, with net profit for Q1 2022 reflecting a positive trend compared to the previous year [34] - The company reported a tax expense of 6.52 million, down from 14.08 million, indicating a reduction of approximately 53.8% [37] Cash Flow and Assets - The net cash flow from operating activities was -¥123,841,908.29, a decrease of 6.75% compared to the previous year [6] - Cash flow from operating activities showed a net outflow of 123.84 million, compared to an outflow of 116.01 million in the previous year [39] - Cash flow from investing activities generated a net inflow of 103.16 million, significantly up from 33.93 million year-over-year [41] - Cash and cash equivalents at the end of the period stood at 839.03 million, an increase from 713.75 million at the end of the previous year [41] - The company's cash and cash equivalents decreased to 912,896,921.02 from 997,285,494.46, a decline of 8.5% [26] - Total assets at the end of the reporting period were ¥4,731,368,152.02, down 3.29% from the end of the previous year [9] - Current assets totaled 1,852,109,466.60 as of March 31, 2022, slightly up from 1,830,731,858.93 at the end of 2021 [29] - Total liabilities decreased to 1,506,286,796.92 as of March 31, 2022, from 1,639,630,709.40 at the end of 2021 [32] - The equity attributable to shareholders increased to 3,156,055,046.67 from 3,135,007,564.23, reflecting a growth of 0.7% [32] Revenue Breakdown - The total revenue for HOdo men's clothing reached RMB 39,655.37 million, with a gross margin of 53.48%, reflecting a year-over-year decrease of 4.54% in revenue [19] - The total revenue from OEM clothing was RMB 21,803.06 million, with a gross margin of 8.00%, showing a significant year-over-year increase of 103.83% in revenue [19] - The overall revenue for the company was RMB 61,458.43 million, with a gross margin of 37.35%, representing a year-over-year increase of 17.65% in revenue [19] - Online sales contributed RMB 15,112.61 million, accounting for 24.59% of total revenue, with a gross margin of 46.37% [20] - Offline sales generated RMB 46,345.82 million, making up 75.41% of total revenue, with a gross margin of 34.40% [20] Operational Changes - The company opened 3 new direct-operated stores and 4 franchise stores, while closing 10 direct-operated stores and 24 franchise stores, resulting in a total of 974 physical stores by the end of the reporting period [21] - The company’s subsidiary, Jiaxing Hodo, reduced its shareholding in Shenzhen Lihe Kechuang Co., Ltd. by 14,602,600 shares, generating a net profit of RMB 32.21 million [22] - The company approved a capital reduction for its subsidiary Jiaxing Hodo from RMB 220 million to RMB 100 million, aligning the registered capital with actual business scale [22] - The company granted 11.65 million restricted stock options to 36 eligible participants as part of its incentive plan, with the registration capital changing to RMB 2,303,021,852 [25] - The company established a wholly-owned subsidiary, Wuxi Hodo Red E-commerce Co., Ltd., with an investment of RMB 1 million, which has completed its business registration [25] Cost and Expenses - Total operating costs for Q1 2022 were 624,838,779.46, up 18.9% from 525,166,536.15 in Q1 2021 [34] - Research and development expenses increased to 5,976,672.84 in Q1 2022, compared to 2,614,707.40 in Q1 2021, reflecting a growth of 128.5% [34] - The decline in net profit was attributed to the impact of COVID-19 in multiple regions, leading to increased consulting and advertising expenses [10]

Financial Performance - The company's operating revenue for 2021 was CNY 2,342,849,597.94, a decrease of 1.72% compared to CNY 2,383,966,762.77 in 2020[22] - The net profit attributable to shareholders for 2021 was CNY 76,973,121.12, representing a significant decline of 46.92% from CNY 145,026,806.47 in 2020[22] - The net cash flow from operating activities was CNY 2,602,494.22, a drastic decrease of 98.93% compared to CNY 243,108,774.85 in 2020[22] - The company's total assets increased by 4.88% to CNY 4,892,495,142.55 at the end of 2021, compared to CNY 4,664,938,757.81 at the end of 2020[22] - The basic earnings per share for 2021 was CNY 0.03, down 50.00% from CNY 0.06 in 2020[25] - The company achieved total operating revenue of RMB 2,342.85 million in 2021, with a net profit attributable to shareholders of RMB 76.97 million[33] - The company's net assets attributable to shareholders decreased by 12.75% to CNY 3,135,007,564.23 at the end of 2021, down from CNY 3,592,947,166.18 at the end of 2020[22] - Non-recurring gains and losses amounted to RMB 8.76 million in 2021, a decrease from RMB 16.64 million in 2020[30] Revenue Sources - The company reported a 9.11% year-on-year increase in revenue from its main clothing business, achieving CNY 1,952,000,000[22] - The apparel business generated revenue of CNY 195,199.89 million, with men's wear contributing CNY 153,025.22 million[56] - The revenue from online sales was 48,272.01 million, showing a significant increase of 45.31% compared to the previous year, with a gross margin of 41.08%[65] - The revenue from direct sales surged by 276.18%, reaching 26,485.20 million, with a gross margin of 56.70%[65] - The revenue from the casual wear segment was 63,451.62 million, with a gross margin of 32.31%, despite a year-over-year decline of 6.70%[63] - The revenue from the shirt segment increased by 21.73% to 29,381.35 million, with a gross margin of 38.01%[63] - The revenue from the sportswear segment was 26,246.82 million, with a gross margin of 8.12%, reflecting a substantial increase in production and sales volume[65] Market Expansion and Strategy - The company is actively expanding its market presence in key regions such as the Yangtze River Delta and Beijing-Tianjin-Hebei[39] - The company is focusing on expanding its online presence, particularly on platforms like Tmall, Douyin, and JD, to enhance brand operation and user engagement[124] - The company is enhancing its offline retail strategy by establishing flagship stores and upgrading store designs to align with its "classic comfort menswear" positioning[124] - The company is committed to a strategic shift towards "smart creation operations" in the men's clothing sector, aiming to become a leading enterprise in this field[114] - The company is focusing on high-end professional clothing market upgrades, enhancing product functionality and leveraging manufacturing advantages for key product development[127] Research and Development - Research and development expenses increased by 67.69% to CNY 12,977,448.70, reflecting a significant investment in product innovation[57] - The total R&D expenditure was CNY 12.98 million, representing 0.55% of operating revenue[83] - The company aims to enhance its product matrix by introducing differentiated high-end products, including the "0 Feel Comfort Shirt" developed in collaboration with a former ARMANI design vice president[114] - The company plans to leverage technology in product development, collaborating with Swiss HeiQ for temperature control fabrics to improve user comfort[115] Operational Efficiency - The company upgraded its smart factory, achieving a 10% reduction in unit cost and a 20% increase in production efficiency through the implementation of advanced technologies such as AI decision-making and smart logistics[42] - The company's inventory turnover rate improved to 13.57 in 2021 from 10.26 in 2020[81] - The company reported a net cash flow from operating activities of CNY 2,602,494.22, a decrease of 98.93% year-on-year[57] - The company aims to improve operational efficiency, targeting a 5% reduction in costs through process optimization[152] Corporate Governance and Compliance - The company has maintained the independence of its operations, with no significant changes reported regarding competition with its controlling shareholder[136] - The company strictly adhered to the regulations regarding insider information management, ensuring no violations or penalties were reported during the period[136] - The company is committed to maintaining transparency in information disclosure, adhering to legal and regulatory standards[133] - The company has established a remuneration management system based on individual roles and performance[159] Sustainability and Social Responsibility - The company is committed to sustainable development, focusing on social responsibility and climate action as part of its brand ethos[48] - The company's dyeing workshop has implemented pollution reduction measures, achieving emissions below the standards for sulfur dioxide, nitrogen oxides, non-methane hydrocarbons, and particulate matter[190] - The company emphasizes energy conservation and resource utilization to enhance competitiveness and reduce carbon emissions[194] - The company provided financial assistance of RMB 20,000 to the government of two towns in Da'an City for supporting nutrition meal subsidies for impoverished students, with a total of RMB 30,000 allocated to the Moonlight Bubble Town government[195]

2021 年第三季度报告 单位：元 币种：人民币 证券代码：600400 证券简称：红豆股份 江苏红豆实业股份有限公司 2021 年第三季度报告 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个别及连带责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 | --- | --- | --- | --- | --- | |------------------------------------------------|----------------|-----------------------------------------|------------------|-------------------------- ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,032,647,907.01, a decrease of 15.58% compared to CNY 1,223,181,217.05 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was CNY 75,104,485.19, down 28.97% from CNY 105,738,493.42 year-on-year[22]. - The net profit after deducting non-recurring gains and losses was CNY 71,161,886.00, a decrease of 26.02% compared to CNY 96,184,806.83 in the previous year[22]. - The company's cash flow from operating activities was negative at CNY -165,090,205.15, compared to a positive CNY 53,131,857.22 in the same period last year[22]. - The company's total assets at the end of the reporting period were CNY 4,453,177,165.43, a decrease of 4.54% from CNY 4,664,938,757.81 at the end of the previous year[22]. - The basic earnings per share for the reporting period was CNY 0.03, a decrease of 25.00% compared to CNY 0.04 in the same period last year[23]. - The company's operating costs decreased by 12.49% to ¥704,919,985.67 from ¥805,527,347.76 year-on-year[45]. - The net cash flow from operating activities was -¥165,090,205.15, a significant decline from ¥53,131,857.22 in the previous year[45]. - The company reported a significant increase in other income by 46.00% to ¥3,520,133.34 from ¥2,411,045.44 year-on-year, mainly from government subsidies[45]. - The total comprehensive income for the first half of 2021 was ¥26,614,954.80, significantly lower than ¥120,348,648.36 in the previous year[143]. Business Operations - The company operates in the "Textile, Apparel, and Accessories" industry, focusing on brand operation and garment manufacturing, with two main businesses: Hongdou men's clothing retail and customized workwear[28]. - Hongdou men's clothing retail targets mid-to-high-end male consumers, offering a variety of styles including business formal and casual wear, with a focus on offline sales in second and third-tier cities and online sales through major e-commerce platforms[28]. - The company is enhancing its digital retail capabilities, integrating online and offline sales channels to improve customer experience and operational efficiency[30]. - The company is actively pursuing smart factory initiatives, having completed intelligent upgrades in its shirt and suit production lines to enhance production efficiency and transparency[30]. - The company is focusing on sustainable development, aligning with national goals for carbon neutrality and promoting green manufacturing practices[28]. - The company achieved a revenue of 1.033 billion yuan in the reporting period, with the apparel business contributing 927 million yuan, representing a year-on-year growth of 6.94%[35]. - The company launched new products such as the "Light Goose Down" and "3D High Elastic Pants," enhancing brand premium through high-tech and fashionable features[34]. - The company’s retail strategy includes expanding into new channels like Douyin and enhancing the online shopping experience, with the red bean men's clothing mini-program achieving a transaction volume exceeding 100 million yuan, surpassing last year's total[38]. - The company has improved its flexible supply chain, increasing production efficiency by 20% and reducing work-in-progress inventory by 30% through the integration of 5G technology and smart factory upgrades[41]. Market Environment - The overall retail sales of consumer goods in China reached RMB 211,904 billion in the first half of 2021, with a year-on-year growth of 23.0%[28]. - The men's apparel market in China saw a compound annual growth rate of 6.82% from 2009 to 2019, with the market size increasing from RMB 308.1 billion to RMB 595.9 billion[28]. - The Chinese men's apparel industry is characterized by low market concentration, with a CR5 of 13.6% and a CR10 of 20.4% as of 2020, indicating a highly competitive environment[28]. - The retail environment is experiencing significant changes due to digital transformation, with an emphasis on personalized and quality-driven consumer demands[28]. Research and Development - Research and development expenses increased by 43.39% to ¥4,766,493.32 from ¥3,324,046.25 year-on-year, indicating a focus on innovation[45]. - The company has established a professional design team and collaborated with renowned fabric suppliers to strengthen its R&D capabilities[34]. - The company has focused on consumer insights to upgrade products, utilizing natural bamboo fiber and other innovative materials to meet quality demands[37]. - The company is actively involved in research and development for fashion and protective gear, enhancing its market competitiveness[183]. Environmental Compliance - The company’s dyeing workshop achieved a waste gas treatment efficiency of 86.9%, meeting the latest national environmental protection standards DB33/962-2015[77]. - The main pollutants emitted by the company include sulfur dioxide, nitrogen oxides, non-methane total hydrocarbons, and particulate matter, with emission concentrations well below the permitted limits[77]. - The company has established an environmental management system certified to GB/T24001-2016/ISO14001:2015 standards, covering various clothing products[81]. - The company has developed an emergency response plan for environmental incidents, which was filed with the local environmental authority[80]. Financial Management - The company has committed to minimizing related party transactions and ensuring fair market practices in its operations[85]. - The company has secured a total credit limit of 740 million, with guarantees provided by the controlling shareholder for 385 million[96]. - The company has approved a share repurchase plan with a total amount not less than 150 million RMB and not exceeding 300 million RMB, with a maximum repurchase price of 4.54 RMB per share[108]. - The company has signed a structured deposit agreement with Jiangsu Bank for 50 million RMB, utilizing idle funds for cash management[108]. - The company has no major litigation or arbitration matters during the reporting period[91]. Subsidiaries and Diversification - The company has a total of 10 subsidiaries listed in the document, indicating a diversified business structure[178]. - The ownership stakes in subsidiaries range from 60% to 100%, reflecting strong control over operations[178]. - The subsidiaries are engaged in a wide range of products including labor protection supplies, clothing, and electronic products, showcasing a diverse product portfolio[180]. - The company is actively involved in the sales of smart wearable devices, indicating a focus on technology integration in its product offerings[180]. - The company has plans for market expansion through the establishment of multiple sales subsidiaries across different regions[180]. Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth[146]. - The company plans to continue expanding its market presence, focusing on new product development and technological advancements[162]. - The company has set a performance guidance for the next quarter, aiming for a revenue growth of approximately 10% year-over-year[162]. - The overall strategy emphasizes a combination of retail growth and technological advancement to capture a larger market share[183].

Financial Performance - The company's operating revenue for 2020 was ¥2,383,966,762.77, a decrease of 6.14% compared to ¥2,539,896,538.01 in 2019[21] - The net profit attributable to shareholders for 2020 was ¥145,026,806.47, down 14.44% from ¥169,510,915.36 in 2019[21] - The net profit after deducting non-recurring gains and losses was ¥128,383,904.14, a decrease of 3.85% compared to ¥133,517,998.13 in 2019[21] - Basic earnings per share decreased by 14.29% to CNY 0.06 in 2020 compared to CNY 0.07 in 2019[25] - The weighted average return on equity decreased by 0.28 percentage points to 3.86% in 2020 from 4.14% in 2019[25] - The gross margin for the clothing segment was 26.40%, down 4.71 percentage points year-on-year[59] - The gross profit margin decreased by 2.47 percentage points to 49.27%[61] - The company reported a significant increase in export revenue, which rose by 81.85% year-over-year, although the gross margin decreased by 15.45 percentage points to 5.30%[61] - The company achieved a revenue of 2,383.97 million RMB and a net profit of 145.03 million RMB for the reporting period[46] Cash Flow and Assets - Cash flow from operating activities increased by 44.94% to ¥243,108,774.85 from ¥167,733,806.96 in 2019[21] - Total assets at the end of 2020 were ¥4,664,938,757.81, a decline of 15.07% from ¥5,492,506,247.34 at the end of 2019[24] - The net assets attributable to shareholders decreased by 9.63% to ¥3,592,947,166.18 from ¥3,975,640,095.58 in 2019[24] - The company's inventory balance decreased by 40.42% year-on-year to ¥124,659,133.81[83] - The company's total assets decreased by 40.42% in inventory, reflecting a strategic shift towards a more flexible supply chain[83] Shareholder Returns - The company plans to distribute a cash dividend of ¥1.20 per 10 shares (including tax) based on the total share capital after deducting shares in the repurchase account[6] - The cash dividend for 2020 was ¥220,849,134.31, which is 152.28% of the profit available for distribution to ordinary shareholders[118] - The share repurchase amount for 2020 was ¥220,849,134.31, compared to ¥87,146,156.26 in 2019, indicating a significant increase in shareholder returns[117] - The company has established a cash dividend policy, ensuring that at least 10% of distributable profits are allocated for cash dividends, with a recent distribution of 0.5 RMB per share totaling approximately 119.23 million RMB[113] Business Operations and Strategy - The company operates two main businesses: "Hongdou Men's Wear" retail and "Hongdou Professional Wear" customization, targeting mid to high-end male consumers[32] - The company has established a comprehensive marketing network integrating offline and online channels to enhance customer experience[35] - The company is actively expanding its marketing channels, including traditional e-commerce and new social e-commerce platforms like Douyin[44] - The company is leveraging AI and big data analytics to improve its end-to-end marketing capabilities and better meet consumer demands[39] - The company is focusing on market-driven innovation and digital economy to foster new industrial momentum[104] Risk Management - The company faces various risks that may impact its future development, as detailed in the report[8] - The company is addressing market risks by adapting to consumer demand changes and enhancing product offerings to meet the evolving needs of consumers in a competitive landscape[109] - The company is facing operational risks due to the rapid digital transformation and is developing a user-centered capability system to enhance customer interaction and resource management[111] Corporate Governance - The company has committed to minimizing related party transactions post-restructuring, ensuring fair market practices and compliance with legal regulations[119] - The company has established a commitment to maintain independent financial management and ensure no misuse of funds or assets by related parties[122] - The company has no controlling shareholder or actual controller[177] - The company has no significant changes in shareholding structure during the reporting period[179] Sustainability and Social Responsibility - The company emphasizes sustainable development, integrating green concepts throughout its design, production, and marketing processes[39] - The company’s dyeing workshop achieved an exhaust treatment efficiency of 86.9%, meeting the latest national environmental protection standards[157] - The company has been actively fulfilling its corporate social responsibility since 2005, becoming a pilot enterprise for the CSC9000T management system[156] Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 12%[188] - The company expects revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion[200] - Future outlook remains positive, with a projected EBITDA margin of 25% for the upcoming fiscal year[200]