证券代码：002485 证券简称：*ST 雪发 公告编号：2023-045 雪松发展股份有限公司 第五届董事会第二十五次会议决议公告 特此公告。 雪松发展股份有限公司董事会 2023年8月12日 附件：内部审计部门负责人个人简历： 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 雪松发展股份有限公司（以下简称"公司"）第五届董事会第二十五次会议于 2023年8月11日以通讯表决的方式召开。本次会议已于2023年8月8日以邮件加电 话确认的方式发出通知，应出席董事9人，以通讯表决方式参与董事9人。会议由 董事长苏齐先生召集并主持，会议的召集、召开与表决程序符合《公司法》和《公 司章程》等相关规定。经与会董事认真审议，做出如下决议： 一、审议并通过了《关于变更公司内部审计部门负责人的议案》 公司原内部审计部门负责人李若兰女士因个人原因，已辞去公司内部审计部 门负责人职务。经公司董事会审计委员会提名，同意聘任施小燕先生为公司内部 审计部门负责人，负责公司内部审计工作，任期自本次董事会审议通过之日起至 第五届董事会任期届满之日止。内部审计部门负责人个人简历见附件。 具 ...

Financial Performance - The total operating revenue for 2021 was approximately ¥1.48 billion, a decrease of 2.05% compared to ¥1.53 billion in 2020[20] - The net profit attributable to shareholders was a loss of approximately ¥442.73 million, representing a significant decline of 2123.69% from a loss of ¥19.91 million in the previous year[20] - The basic and diluted earnings per share were both negative at ¥0.8138, a decrease of 2123.50% from ¥0.0366 in 2020[20] - The total assets at the end of 2021 were approximately ¥3.20 billion, reflecting a decrease of 5.92% from ¥3.37 billion at the end of 2020[20] - The weighted average return on net assets was -22.60% for 2021, a significant decline from -0.91% in 2020[20] - The company reported a significant non-recurring loss of CNY -403,935,859.16 in 2021, primarily due to fair value changes in investment properties[27] - The company’s diluted earnings per share for 2021 was CNY -0.8138, reflecting ongoing financial difficulties[21] - The net profit attributable to shareholders decreased by 2,123.69% year-on-year, largely due to a 5,822.88% reduction in fair value gains from investment properties[65] Cash Flow and Investments - The net cash flow from operating activities improved by 58.64%, reaching a negative ¥73.55 million compared to a negative ¥147.67 million in 2020[20] - The company reported a net cash flow from operating activities of CNY -82,348,917.01 in the first quarter of 2021, indicating cash flow challenges[26] - The net cash flow from investing activities decreased by 129.84% year-on-year, mainly due to increased investment in town projects[64] - The net cash flow from financing activities increased by 321.59% compared to last year, primarily due to an increase in cash flow from bill discounts[64] - The total amount of cash and cash equivalents decreased by 28,549,932.42, showing a 69.47% improvement in net decrease compared to the previous year[63] Business Operations and Strategy - The company has expanded its business scope to include cultural tourism project development and information system integration services as of August 2021[18] - The company aims to expand its supply chain management and comprehensive services, focusing on coal, coke, oil products, and steel[34] - The company is actively exploring innovative cooperation models in its supply chain operations, aiming for multi-party win-win scenarios with state-owned enterprises[34] - The company has established a comprehensive supply chain service model, focusing on core customers and addressing pain points in procurement, production, and sales[41] - The company has optimized its steel business model, resulting in continuous growth despite market challenges, by focusing on large steel manufacturers[41] - The company has maintained stable growth in coal and coke business by strengthening relationships with core customers, ensuring reliable supply[42] - The company has expanded its oil product business by targeting major petrochemical enterprises, leading to both profit and scale growth[43] Revenue Segments - Supply chain business revenue surged to approximately ¥1.33 billion, accounting for 89.90% of total revenue, with a remarkable year-on-year growth of 206.33%[47] - The tourism segment generated approximately ¥53.21 million, down 60.60% from ¥135.05 million in 2020, indicating a significant decline in this area[47] - The apparel segment reported revenue of approximately ¥61.13 million, a drastic decrease of 92.48% compared to ¥812.99 million in the previous year[47] Governance and Compliance - The company has faced significant risks including natural disasters, economic cycles, commodity price fluctuations, and market competition[4] - The company has made adjustments to its financial data due to accounting errors, necessitating restatements for previous years[19] - The company received a regulatory letter from the Shenzhen Stock Exchange on July 23, 2021, regarding significant accounting errors and delayed performance announcements[93] - The company is currently under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws[93] - The company emphasizes communication with stakeholders, including creditors, employees, and customers, to balance interests and fulfill social responsibilities[98] - The company adheres to strict information disclosure practices, ensuring transparency and timely reporting to all shareholders[99] Shareholder and Management Structure - The board of directors consists of 9 members, including 3 independent directors, meeting the legal requirement of over one-third independence[96] - The supervisory board operates in accordance with legal and regulatory requirements, ensuring compliance in financial operations and asset transactions[97] - The company has established various internal governance systems, including an internal audit system and a risk management framework[92] - The company has implemented measures to protect minority shareholders' rights, including online voting systems for shareholder meetings[95] - The company has a clear ownership relationship with the controlling shareholder, ensuring no guarantees provided for the debts of the controlling shareholder[101] Employee and Talent Management - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 440.05 million[120] - The company emphasizes the cultivation and enhancement of comprehensive and high-end talents, maintaining a competitive salary structure[131] - Training programs are developed annually to align with the company's strategic development needs, focusing on various skills and management areas[132] - The total number of employees at the end of the reporting period was 155, with 83 in sales, 2 in technical roles, 35 in finance, 14 in administration, and 21 in other categories[129] Future Outlook and Projections - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20% to 1.8 billion yuan[108] - New product launches are expected to contribute an additional 300 million yuan in revenue, with a focus on innovative technology solutions[109] - The company is expanding its market presence, targeting a 10% increase in market share in the next year[110] - Strategic acquisitions are planned, with a budget of 500 million yuan allocated for potential mergers and acquisitions[106] Environmental and Social Responsibility - The company emphasizes environmental protection and sustainable development, integrating these aspects into its strategic planning[143] - The company has implemented measures to reduce energy consumption and pollution, fulfilling its social responsibility commitments[143] Related Party Transactions - The total expected amount of related party transactions for 2021 is RMB 1,007.60 million, while the actual amount incurred is RMB 104.75 million, indicating a significant reduction in related party transactions[163] - The company has not reported any significant related party transactions that require shareholder approval[171] Regulatory and Legal Matters - The company faced regulatory scrutiny for significant accounting errors and performance forecast corrections, receiving a warning letter from the China Securities Regulatory Commission[160] - The company has not experienced any major litigation or arbitration matters during the reporting period[159] - The company has not undergone any bankruptcy reorganization during the reporting period[158]

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥1.21 billion, representing a 59.53% increase compared to the same period last year[23]. - The net profit attributable to shareholders of the listed company was a loss of approximately ¥6.03 million, which is a 71.04% increase in loss compared to the previous year[23]. - The net cash flow from operating activities improved significantly to approximately ¥34.77 million, a 239.57% increase compared to the same period last year[23]. - The total assets at the end of the reporting period were approximately ¥3.32 billion, reflecting a 3.73% increase from the end of the previous year[23]. - The net assets attributable to shareholders of the listed company decreased slightly to approximately ¥1.73 billion, a 0.32% decline compared to the previous year[23]. - The basic earnings per share for the reporting period was approximately -¥0.0111, a 70.77% decrease in loss per share compared to the previous year[23]. - The company faced significant non-operating losses, with the net profit after deducting non-recurring gains and losses amounting to approximately -¥34.38 million, a 493.64% increase in loss compared to the previous year[23]. - The weighted average return on net assets was -0.35%, a decrease of 0.19% compared to the previous year[23]. - The gross profit margin for the supply chain business was 0.92%, slightly down from 49.02% year-on-year, while the gross profit margin for the tourism segment decreased significantly to 6.37%[51]. - The company experienced a dramatic increase in income tax expenses, which rose by 8,446.98% to ¥9,440,301.47, primarily due to increased operating revenue[47]. Business Operations - The company’s supply chain management and comprehensive service business showed steady growth, focusing on core customers and extending services along the supply chain[34]. - The company established a new aluminum products division, creating a full industry chain business model that connects upstream and downstream resources[41]. - The tourism business is gradually recovering, with the company’s projects in Shangri-La and Lijiang experiencing increased visitor numbers[37]. - The company’s brand influence in the tourism sector has strengthened, with its hotel brand winning the "Best Cultural Accommodation Brand" award[38]. - The company’s supply chain technology platform "Xuesong Zhichain" has developed five software copyrights in application technology and financial technology innovation[43]. - The company’s core business areas include steel, coal, and aluminum, with steady growth in these segments due to effective customer solutions[40]. Risk Management - The company has acknowledged risks such as natural disasters, economic cycles, commodity price fluctuations, and market competition, which may impact future performance[4]. - The company has implemented strict internal controls to enhance operational management and reduce business risks[39]. - The company has established emergency response mechanisms to mitigate the impact of natural disasters on operations[69]. - The company emphasizes the importance of market research and effective marketing strategies to reduce risks associated with commodity price volatility[71]. - The company faces risks from economic cycles, commodity price fluctuations, and intensified market competition, which may impact operational performance[70][71][72]. Financial Position - The total assets at the end of the reporting period amounted to ¥3,325,000,000, with cash and cash equivalents increasing to ¥71,834,833.58, up from ¥58,953,449.77 at the end of the previous year[55]. - The company’s inventory increased to ¥69,805,778.61, up from ¥31,644,370.61, indicating a significant rise in stock levels[55]. - The company’s financing activities resulted in a net cash outflow of ¥58,728,039.00, primarily due to the repayment of bank loans, reflecting a 496.13% increase in outflow compared to the previous year[47]. - The company’s investment income surged to ¥30,516,153.66, representing 781.64% of total profit, mainly driven by futures trading profits[53]. - The company reported a derivative investment amount of 68.41 million yuan, with a net asset value of 30.51 million yuan at the end of the reporting period, reflecting a 1.31% actual loss[62]. Corporate Governance - The company held three temporary shareholder meetings and one annual meeting during the reporting period, with investor participation rates of 69.48%, 69.45%, and 69.62% for the temporary meetings, and 74.90% for the annual meeting[75][76][79]. - There were several changes in the board and management, including the election of a new chairman and independent directors, and the appointment of a new CFO[76]. - The company has issued multiple announcements regarding independent director nominations and other corporate governance matters during the reporting period[115]. - The company has not implemented any stock incentive plans or employee stock ownership plans during the reporting period[79]. Legal and Compliance Issues - The company reported a significant lawsuit involving a claim of approximately RMB 491.65 million (49,164.65 thousand) against it, with potential implications for future profits[92]. - The company is under investigation for alleged violations of information disclosure regulations, which may lead to administrative penalties[93]. - The company has committed to enhancing compliance with relevant laws and regulations to improve information disclosure practices[94]. - The company has faced scrutiny for not disclosing operating revenue and net revenue data in its 2021 performance forecast[93]. - The company is actively monitoring the progress of the lawsuit and will fulfill its information disclosure obligations accordingly[92]. Shareholder Information - The controlling shareholder, Xuesong Wenti, and its concerted parties hold a total of 382,468,426 shares, representing 70.30% of the company's total equity[95]. - A total of 372,662,016 shares, or 68.50% of the total equity, have been pledged, while 377,557,496 shares, or 69.40%, have been judicially frozen[95]. - The company’s total share capital remains at 544 million shares, with no changes in the number of shares held by shareholders[125]. - The largest shareholder, Guangzhou Xuesong Cultural Tourism Investment Co., Ltd., holds 63.62% of the shares, totaling 346,103,845 shares, all of which are pledged and frozen[127]. - The second largest shareholder, Guangzhou JunKai Investment Co., Ltd., holds 6.68% of the shares, totaling 36,364,581 shares, with 26,558,171 shares pledged and 31,453,651 shares frozen[127]. Future Outlook - The company aims to strengthen its risk awareness and governance practices to protect the interests of all shareholders[94]. - The company plans to lease or sell up to 19 properties with a total book value not exceeding 640 million RMB to enhance asset utilization, effective from January 2022 until the next shareholders' meeting[107]. - The company is actively negotiating repayment and extension plans for overdue debts with related parties[112].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,214,373,390.19, representing a 59.53% increase compared to ¥761,205,434.26 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was -¥6,032,167.14, a decrease of 71.04% from -¥3,526,660.49 in the previous year[23]. - The net cash flow from operating activities improved to ¥34,771,380.34, a significant increase of 239.57% compared to -¥24,913,366.62 in the same period last year[23]. - The total assets at the end of the reporting period were ¥3,322,055,770.22, reflecting a 3.73% increase from ¥3,202,464,834.22 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company decreased slightly by 0.32% to ¥1,732,158,261.78 from ¥1,737,538,559.22 at the end of the previous year[23]. - The basic and diluted earnings per share were both -¥0.0111, a decline of 70.77% from -¥0.0065 in the same period last year[23]. - The company reported a substantial increase in income tax expenses to ¥9,440,301.47, up 8,446.98% from ¥110,451.96 due to increased operating income[46]. - The company reported a net profit attributable to shareholders of negative value for the year 2021, with operating revenue below 100 million RMB, leading to a "delisting risk warning" for its stock starting May 6, 2022[119]. Cash Flow and Investments - The net cash flow from investing activities surged to ¥32,583,921.96, marking a 1,325.52% increase from ¥2,285,756.47 year-on-year[46]. - The net increase in cash and cash equivalents was ¥8,626,671.63, a 126.56% improvement from -¥32,480,379.56 in the previous year[46]. - The company reported a significant increase in cash inflow from operating activities, totaling ¥2,729,924,632.79 in the first half of 2022, compared to ¥1,103,229,148.05 in the same period of 2021, marking an increase of approximately 147%[154]. - The cash flow from investment activities for the first half of 2022 was ¥32,583,921.96, compared to ¥2,285,756.47 in the same period of 2021, indicating a significant improvement[155]. - The total cash outflow from investment activities was 240,077,950.60 CNY, compared to 420,948,873.00 CNY in the previous period[157]. Operational Risks and Challenges - The company has acknowledged various risks including natural disasters, economic cycles, commodity price fluctuations, and market competition[4]. - The company faces risks from commodity price fluctuations, which could significantly impact profitability due to the correlation with macroeconomic cycles[70]. - The company is exposed to economic cycle risks that may affect consumer demand and operational performance due to complex domestic and international conditions[69]. - Major subsidiaries reported significant losses, with Jiaxing Songlv Cultural Tourism Development Co., Ltd. posting a net loss of approximately 4.37 million yuan[66]. Corporate Governance and Shareholder Matters - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company held three temporary shareholder meetings and one annual shareholder meeting during the reporting period, with investor participation rates of 69.48%, 69.45%, 69.62%, and 74.90% respectively[74][75]. - There were significant changes in the board of directors and management, including the election of a new chairman and independent directors in January and August 2022[75]. - The company has not faced any administrative penalties related to environmental issues and is not classified as a key pollutant discharge unit[81]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[86]. Strategic Initiatives and Future Outlook - The company plans to expand its market presence by launching new products in the upcoming quarter[159]. - The company expects a revenue growth of 8% for the next quarter, driven by new product launches and market expansion strategies[159]. - The company is exploring potential acquisition opportunities to enhance its product offerings and market share[168]. - The company plans to increase its marketing budget by 25% to support the upcoming product launches and market expansion initiatives[171]. - The company has set a performance guidance of 10% revenue growth for the upcoming quarter[168]. Research and Development - The company has allocated a budget of 100 million for research and development in the upcoming year to support new technology advancements[172]. - Research and development expenses for the period amounted to 1,200.00 million yuan, accounting for 10.00% of total revenue[159]. - Research and development expenses increased by 25% to support innovation and new technology[168]. Financial Position and Equity - The total equity attributable to shareholders was CNY 2,265,019,854.53 at the end of the reporting period[164]. - The total liabilities and equity at the end of the reporting period were CNY 2,265,019,854.53[164]. - The total owner's equity decreased by CNY 19,551,000.00 due to profit distribution[166]. - The total assets at the end of the period amounted to 5.44 billion yuan, showing a significant increase compared to the previous year's amount[173]. Compliance and Accounting Practices - The financial statements are prepared based on the assumption of going concern, indicating the company’s ability to continue operations for at least 12 months from the reporting date[183]. - The company adheres to the enterprise accounting standards, ensuring that financial reports reflect its financial status and operating results accurately[185]. - The company uses RMB as its functional currency for accounting purposes[188].

Financial Performance - The total revenue for 2021 was approximately ¥1.48 billion, a decrease of 2.05% compared to 2020[21] - The net loss attributable to shareholders was approximately ¥442.73 million, representing a significant increase of 2123.69% compared to the previous year[21] - The basic and diluted earnings per share were both -¥0.8138, reflecting a decline of 2123.50% compared to 2020[21] - The weighted average return on equity was -22.60%, a decrease of 21.69% from the previous year[21] - The net profit attributable to shareholders decreased by 2,123.69% year-on-year, largely due to a 5,822.88% reduction in fair value gains from investment properties[68] - The company reported a significant decrease in investment income, with losses from fair value changes accounting for 88.21% of total profit[70] - The company’s diluted earnings per share for the latest share capital was negative ¥0.8138[23] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was negative ¥30.82 million for Q4 2021, with a total annual net profit of negative ¥40.39 million[27][29] Cash Flow and Assets - The net cash flow from operating activities improved by 58.64%, amounting to approximately -¥73.55 million[21] - The total assets at the end of 2021 were approximately ¥3.20 billion, a decrease of 5.92% from the previous year[22] - The net cash flow from operating activities increased by 58.64% year-on-year, primarily due to improved collection efforts[66] - The total cash and cash equivalents decreased by 69.47% year-on-year, reflecting a net decrease of CNY 28,549,932.42[66] - The proportion of investment properties in total assets decreased by 15.79%, attributed to ongoing economic environment impacts[71] - The company's short-term borrowings increased by 1.30% year-on-year, reaching CNY 101,436,083.38[71] Business Operations and Strategy - The company plans not to distribute cash dividends or issue bonus shares for the year[5] - The company has expanded its business scope to include cultural tourism project development and information system integration services[19] - The company is expanding its supply chain management and comprehensive service business, focusing on coal, coke, oil products, and steel, while also enhancing its operational model through the "智链" platform[36] - The company has been actively developing cultural tourism projects, including several tourist towns across China, to leverage its resources in first-tier tourist destinations[36] - The company has implemented a regional operational model for its apparel sales, focusing on targeted customer development in key areas and industries[37] Market and Industry Trends - The domestic tourism industry saw a total of 3.246 billion trips in 2021, a year-on-year increase of 12.8%, recovering to 54.0% of 2019 levels[34] - The apparel industry in China reported a revenue of ¥1.48 trillion in 2021, reflecting an increase of ¥112.61 billion or 8.22% from 2020[35] - The company’s apparel segment saw a drastic decline in revenue, dropping 92.48% to approximately ¥61.13 million[49] - The tourism segment generated approximately ¥53.21 million, a significant decline of 60.60% compared to ¥135.05 million in 2020[49] Risk Management - The company has faced significant risks including natural disasters, economic cycles, and market competition[4] - Commodity price fluctuations pose a significant risk to the company's profitability, necessitating in-depth market research and effective marketing strategies[90] - The company recognizes risks from major natural disasters and economic cycles, which could adversely affect business operations and performance[87][89] - The company faces intensified market competition and plans to leverage its strengths to enhance core competitiveness and market share[91] Governance and Compliance - The company received a regulatory letter from the Shenzhen Stock Exchange on July 23, 2021, regarding significant accounting errors and delayed performance announcements[96] - The company is currently under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws[96] - The company has established various internal management systems, including an internal audit system and a risk management system, to ensure compliance and operational integrity[98] - The company emphasizes communication with shareholders through multiple channels, ensuring that minority shareholders can fully exercise their rights[98] - The company has implemented measures to enhance compliance with information disclosure regulations following regulatory actions[165] Shareholder Engagement - The annual shareholders' meeting had a participation rate of 74.58% on May 19, 2021, indicating strong investor engagement[106] - The first extraordinary shareholders' meeting in 2021 had a participation rate of 69.46% on June 23, 2021, reflecting continued investor interest[107] - The second extraordinary shareholders' meeting in 2021 had a participation rate of 69.81% on July 27, 2021, showing consistent shareholder involvement[107] - The third extraordinary shareholders' meeting in 2021 had a participation rate of 69.45% on September 14, 2021, maintaining a high level of shareholder engagement[107] Human Resources - The total number of employees at the end of the reporting period was 155, with 26 from the parent company and 129 from major subsidiaries[133] - The employee composition includes 83 sales personnel, 2 technical staff, 35 finance personnel, 14 administrative staff, and 21 others[133] - The educational background of employees shows 74 with a bachelor's degree or above, 48 with a college diploma, and 33 with a secondary vocational education or below[134] - The company emphasizes a competitive salary structure consisting of basic salary, position salary, and performance salary, focusing on talent cultivation and optimization[135] Research and Development - Research and development expenses increased by 41.91% to ¥3,216,470.63, primarily due to higher personnel costs[61] - R&D investment decreased by 31.57% to ¥3,216,470.63, with R&D investment as a percentage of operating income at 0.22%[65] - Research and development investments increased by 30%, totaling 150 million yuan, aimed at advancing new technologies[115] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 15% to 1.725 billion yuan[111] - New product launches are expected to contribute an additional 200 million yuan in revenue, with a focus on innovative technology solutions[112] - The company plans to enter two new international markets, which are projected to generate an additional 100 million yuan in revenue[116] - The management team emphasized a commitment to sustainability, with plans to reduce operational costs by 5% through efficiency improvements[117]

证券代码：002485 证券简称：*ST 雪发 雪松发展股份有限公司投资者关系活动记录表 编号：2023-001 □特定对象调研 □分析师会议 □媒体采访 √业绩说明会 投资者关 系活动类 □新闻发布会 □路演活动 别 □现场参观 □其他 （ ） 参与单位 投资者 名称及人 员姓名 时间 2023 年 5 月 23 日 15:00-17:00 地点 深圳证券交易所"互动易平台"http://irm.cninfo.com.cn"云访谈"栏目 上市公司 公司董事/总经理苏齐先生、董事会秘书梁月明女士、财务总监倪振凤女士和独立 董事刘善敏先生 接待人员 姓名 1、公司盈利能力有限必然影响到持续经营，请问未来公司对于发展模式和盈利能力有何 规划和进展如何？ 回复：您好，报告期内，公司秉承"坚守实业、创造价值"的理念，在"多元化发展， 专业化运作"的战略指引下，在积极发展文化旅游业务的同时，大力提升供应链运营管理和 投资者关 | --- | |----------------------------------------------------------------------------------| | 综合服 ...

Financial Performance - The company reported a significant increase in revenue for 2022, reaching RMB 1.5 billion, representing a growth of 25% compared to the previous year[17]. - The company's operating revenue for 2022 was ¥1,706,801,782.35, a 15.61% increase from ¥1,476,387,521.63 in 2021[24]. - The net profit attributable to shareholders was -¥348,887,898.13, showing a 21.20% improvement compared to -¥442,951,816.30 in 2021[24]. - Total revenue for 2022 reached ¥1,706,801,782.35, representing a year-on-year increase of 15.61% compared to ¥1,476,387,521.63 in 2021[46]. - The company reported a significant loss of -¥320,825,078.00 in retained earnings due to operational losses during the year[64]. - The company reported a net profit of -348,887,898.13 RMB for the year 2022, with total revenue of 1,706,801,782.35 RMB[184]. User Engagement - User data showed a total of 2 million active users by the end of 2022, an increase of 15% year-over-year[17]. - User data showed a 30% increase in active users, reaching 2 million by the end of 2022[179]. Future Outlook - The company has outlined a future outlook with a projected revenue growth of 20% for 2023, driven by new product launches and market expansion strategies[17]. - The company provided a positive outlook for 2023, projecting a revenue growth of 10% to 1.32 billion RMB, driven by new product launches and market expansion strategies[109]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in regional sales by 2024[17]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of 2023[180]. Research and Development - Research and development efforts have led to the introduction of three new products in 2022, contributing to a 10% increase in market share[17]. - Investment in new technology development increased by 25%, totaling 200 million RMB, focusing on enhancing product features and user experience[109]. - Research and development investments increased by 40%, totaling 100 million, to drive innovation in product offerings[180]. - R&D investment decreased by 72.98% to ¥869,074.77 in 2022, accounting for only 0.05% of operating revenue[59]. - The number of R&D personnel dropped to 0 in 2022, a 100% decrease from 2021[59]. Strategic Acquisitions - The company is actively pursuing strategic acquisitions to enhance its service offerings and market reach, with a budget of RMB 500 million allocated for this purpose[17]. - A strategic acquisition of a local competitor was announced, expected to enhance the company's product offerings and customer base, valued at approximately 300 million RMB[109]. - The company announced a strategic acquisition, with the company acquiring a competitor for 300 million, expected to enhance market capabilities[179]. Market Challenges - The company has identified risks related to natural disasters and market competition, which may impact future performance[4]. - The company faces risks from natural disasters, economic cycles, commodity price fluctuations, and intensified market competition, which may impact its operational performance[81][82][83][84]. - The company has faced regulatory challenges, with ongoing investigations impacting stock performance, but remains committed to compliance and transparency[180]. Internal Controls and Governance - The company has implemented strict internal controls and risk management measures to enhance operational efficiency and reduce business risks[44]. - The internal control system was continuously updated and effectively implemented, ensuring compliance and safeguarding assets[126]. - The company maintained effective internal control over financial reporting as of December 31, 2022, according to the internal control audit report[130]. - The company has taken measures to improve its governance structure and enhance compliance with regulatory requirements, following past administrative penalties[88]. Shareholder Information - No cash dividends or stock bonuses will be distributed to shareholders for the fiscal year 2022[5]. - The company did not propose any cash dividend distribution plan during the reporting period, despite having positive distributable profits[124]. - The company has committed to protecting the rights of shareholders, especially minority shareholders, and ensuring compliance with legal disclosure obligations[135]. Asset Management - The company’s total assets as of December 31, 2022, amounted to RMB 3 billion, reflecting a 12% increase from the previous year[17]. - The total assets at the end of 2022 were ¥2,746,691,887.04, a decrease of 14.24% from ¥3,202,464,834.22 at the end of 2021[24]. - The company’s net assets at the end of 2022 amounted to 1,385,334,574.83 RMB[184]. Marketing Strategies - The company has organized innovative marketing activities, such as cultural events, to attract new generations of tourists to its destinations[39]. - The company has initiated a new marketing strategy aimed at increasing brand awareness, with a budget allocation of 50 million RMB for 2023[109]. Legal and Compliance Issues - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws[143]. - The company was penalized for failing to disclose expected operating revenue data in its 2021 performance forecast, leading to an administrative penalty from the China Securities Regulatory Commission[156]. - The company aims to enhance its compliance with relevant laws and regulations to protect the interests of investors and ensure stable development[156]. Employee and Management Structure - The total number of employees at the end of the reporting period was 130, with 66 in sales, 2 in technology, 29 in finance, 15 in administration, and 18 in other roles[121]. - The company has a focus on talent development, emphasizing the cultivation of comprehensive and high-end talents to maintain a dynamic human resources team[122]. - The management team includes individuals with extensive experience in various sectors, which is expected to drive the company's growth and innovation[102].

Financial Performance - The company's operating revenue for Q1 2023 was ¥188,122,228.44, a decrease of 6.09% compared to the same period last year[5]. - Net profit attributable to shareholders was ¥60,354,011.55, representing a significant increase of 2,689.52% year-on-year[5]. - Basic earnings per share rose to ¥0.1109, up 2,679.07% from the previous year[5]. - Total revenue for Q1 2023 was CNY 188,122,228.44, a decrease of 6.1% from CNY 200,316,663.75 in the previous period[23]. - Net profit for Q1 2023 was CNY 60,284,002.74, compared to a net loss of CNY 1,702,238.90 in the same period last year[23]. - The total comprehensive income attributable to the parent company for Q1 2023 was CNY 60,354,011.55, a decrease of 2,330,706.36 compared to the previous period[24]. - Basic and diluted earnings per share for Q1 2023 were CNY 0.1109, down by 0.0043 from the previous period[24]. Cash Flow and Assets - The net cash flow from operating activities decreased by 86.56% to ¥10,597,044.13 compared to the previous year[5]. - Cash inflow from operating activities totaled CNY 1,878,179,897.59, compared to CNY 1,149,825,507.49 in the previous period, reflecting a growth of approximately 63.5%[25]. - Cash outflow from operating activities was CNY 1,867,582,853.46, an increase from CNY 1,070,970,698.61 in the previous period[26]. - The ending balance of cash and cash equivalents as of Q1 2023 was CNY 297,045,306.26, compared to CNY 21,866,830.74 at the end of the previous period[26]. - The company's cash and cash equivalents increased by 246.11% compared to the beginning of the year, mainly due to the recovery of equity and shop payments[9]. - The net cash flow from investing activities was CNY 221,620,169.65, a recovery from a negative cash flow of CNY 36,334,896.18 in the previous period[26]. - The company experienced a decrease in cash flow from operating activities due to increased payments related to operational expenses[26]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,617,823,403.45, down 4.69% from the end of the previous year[5]. - The company's total assets decreased to CNY 2,617,823,403.45 from CNY 2,746,691,887.04 at the beginning of the year[22]. - Total liabilities decreased to CNY 1,172,260,529.57 from CNY 1,349,871,426.20[22]. - Accounts receivable decreased to CNY 125,014,373.88 from CNY 151,602,424.97[22]. - Inventory increased to CNY 50,117,349.41 from CNY 25,546,115.02[22]. Investments and Equity - The balance of trading financial assets grew by 287.25%, attributed to increased hedging investments[9]. - The company reported a significant increase in investment income to CNY 3,698,870.72 from CNY 1,358,548.67[23]. - The company has authorized management to conduct futures hedging with a maximum guarantee amount of RMB 100 million, including RMB 30 million for steel products[16]. - The company transferred 51% equity of Guizhou Tianyue Travel Agency for RMB 724,955.84, and previously transferred 51% equity of 6 travel agencies for RMB 8.603 million[15]. Operational Changes - The company confirmed rental income of RMB 1.2047 million from 10 leased properties[14]. - The company plans to sell or lease up to 10 properties with a total book value not exceeding RMB 386 million in 2023[13]. - The company completed the sale of a property in Zibo for a total transaction amount of RMB 3.9 million[13]. - The company has completed the transfer of equity and received all transfer payments as of the announcement date[15]. Shareholder Information - The company has 63.62% of its shares held by Guangzhou Xuesong Cultural Tourism Investment Co., Ltd., which is under the same actual controller as Guangzhou Jun Kai Investment Co., Ltd.[12]. - The company has a total of 10 major shareholders, with the top two holding 63.62% and 5.78% of shares respectively[12]. Miscellaneous - The company reported a net profit of -RMB 348.92 million for the year 2022, with total revenue of RMB 1.7068 billion[17]. - The company has applied to revoke the delisting risk warning for its stock, as it no longer meets the criteria for such warnings[18]. - The company did not conduct an audit for the Q1 2023 report[27]. - The company experienced a 652,060.64% increase in non-operating expenses, mainly due to the provision for penalties related to Huaron[9].

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Group 1: Industry Overview - The men's clothing industry has transitioned from rapid expansion to a focus on enhancing operational efficiency and product precision, as external expansion faces pressure due to rising costs in commercial properties and distribution channels [2][3] - The industry is undergoing a transformation, with traditional growth through store openings reaching its limit; future growth will depend on improving operational efficiency and cost-effectiveness [2][3] Group 2: Market Competition - The current market lacks a dominant leader, especially in the men's clothing segment, leading to intense competition among companies in areas such as talent, channels, and supply chains [3] - The rapid changes in the domestic clothing industry, driven by the internet and mobile internet, have created unprecedented challenges, with ongoing adjustments in growth models and pricing structures [3] Group 3: Company Store Network - As of December 31, 2013, the company operated 178 directly-owned stores and 519 franchised stores, primarily in six provinces: Shandong, Hebei, Henan, Shanxi, Jiangsu, and Shaanxi [3] Group 4: Financial Performance - Domestic sales account for approximately 74% of total revenue, while foreign trade contributes about 26% [4] - The company's performance in the first half of the year was below expectations due to factors such as macroeconomic impacts, reduced sales from franchise stores, and increased promotional activities leading to a decline in gross margin [4][5] Group 5: Future Outlook - The company's performance improvement depends on both internal measures taken and the overall retail market conditions; management is committed to operational excellence to deliver good results for investors [5] - The company has initiated e-commerce operations and is exploring O2O (Online to Offline) business models, with a flagship store on Tmall established in the second half of 2013 [5]