证券简称：孩子王 证券代码：301078 孩子王儿童用品股份有限公司 投资者关系活动记录表 编号：2022-004 | --- | --- | --- | |-------------------------|-------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------| | 投资者关系活动 \n类别 | □特定对象调研 □分析师会议 \n□媒体采访 □业绩说明会 \n□新闻发布会 \n□现场参观 | □路演活动 \n 其他（线上电话会议） | | 参与单位名称 及人员姓名 | 份有限公司等机构。 | 国泰君安、中信建投、天风证券、浙商证券、诺安基金、 东方基金、浙江健顺投资有限公司、上海锐至信息技术股 | | 时间 | 2022 年 10 月 31 日 | 15:00~16:00 | | 地点 | 线上电话 ...

Financial Performance - The company's revenue for Q3 2022 was ¥2,010,542,299.40, a decrease of 6.89% compared to the same period last year[7]. - Net profit attributable to shareholders was ¥84,868,825.50, an increase of 10.15% year-on-year, while net profit after deducting non-recurring gains and losses decreased by 35.89% to ¥151,812,105.63[7]. - Total operating revenue for the current period is approximately ¥6.38 billion, a decrease of 3.23% from ¥6.60 billion in the previous period[39]. - Net profit attributable to shareholders of the parent company is approximately ¥151.81 million, down 36.0% from ¥236.79 million in the previous period[41]. - Operating profit for the current period is approximately ¥189.20 million, a decrease of 32.9% from ¥281.74 million in the previous period[39]. - Basic and diluted earnings per share for the current period are both ¥0.1395, down from ¥0.2418 in the previous period[41]. - Total operating costs for the current period are approximately ¥6.25 billion, a decrease of 2.39% from ¥6.41 billion in the previous period[39]. - Tax expenses for the current period amount to approximately ¥27.10 million, down from ¥38.95 million in the previous period[39]. - Other income for the current period is approximately ¥28.93 million, down from ¥39.27 million in the previous period[39]. Cash Flow - The net cash flow from operating activities increased by 95.29% to ¥631,671,117.88 compared to the same period last year[7]. - The net cash outflow from operating activities was CNY 6,698,490,634.46, a decrease from CNY 7,243,947,083.72 in the previous period, indicating improved cash flow management[45]. - The net cash generated from operating activities increased to CNY 631,671,117.88, compared to CNY 323,454,382.13 in the prior period, reflecting a positive trend in operational efficiency[45]. - Cash inflow from operating activities totals approximately ¥7.33 billion, down 3.12% from ¥7.57 billion in the previous period[42]. - The company reported a net cash inflow from tax refunds of approximately ¥59.91 million, compared to ¥35.04 million in the previous period[42]. - The net cash outflow from investment activities improved significantly, decreasing by 96.39% to -¥8,592,851.37 compared to the same period last year[19]. - Cash inflow from investment activities totaled CNY 4,761,253,018.35, down from CNY 17,908,190,134.09 in the previous period, suggesting a significant reduction in investment returns[45]. - The net cash outflow from investment activities was CNY 8,592,851.37, an improvement from CNY -237,762,068.35 in the last period, indicating a reduction in investment losses[45]. - Cash inflow from financing activities was CNY 168,884,398.55, compared to CNY 1,761,881.04 in the previous period, showing increased financing efforts[45]. - The net cash outflow from financing activities was CNY -403,396,126.17, slightly better than CNY -482,788,782.93 in the prior period, indicating a narrowing of financing losses[45]. - The net increase in cash and cash equivalents was CNY 221,491,355.67, a recovery from CNY -397,401,109.65 in the last period, indicating improved liquidity[45]. - The ending balance of cash and cash equivalents was CNY 1,422,980,196.95, up from CNY 1,372,558,824.43 in the previous period, demonstrating a stronger cash position[45]. Assets and Liabilities - The total assets at the end of the reporting period were ¥7,813,914,278.37, a decrease of 3.84% from the end of the previous year[7]. - The total current assets decreased to CNY 3,989,523,825.69 from CNY 4,155,072,941.43, reflecting a reduction of about 4.00%[34]. - The total non-current assets as of September 30, 2022, were CNY 3,824,390,452.68, down from CNY 3,971,183,299.47, indicating a decrease of approximately 3.70%[34]. - The total liabilities decreased to CNY 4,835,191,757.02 from CNY 5,278,023,287.34, which is a reduction of about 8.43%[34]. - The total equity attributable to shareholders increased to CNY 2,978,086,775.23 from CNY 2,848,034,669.59, marking an increase of approximately 4.55%[34]. - The company's retained earnings increased to CNY 871,190,736.50 from CNY 741,138,630.86, representing an increase of approximately 17.54%[34]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 22,266[20]. - Jiangsu Bosida Enterprise Information Consulting Co., Ltd. holds 25.51% of shares, totaling 277,563,504 shares[20]. - Nanjing Qianmiao Nuo Venture Capital Partnership holds 11.75% of shares, totaling 127,819,468 shares[20]. - HCM KW (HK) Holdings Limited owns 11.24% of shares, totaling 122,310,256 shares[20]. - The top ten shareholders collectively hold significant stakes, with the largest shareholder holding over 25%[20]. Strategic Plans - The company has a strategic plan for market expansion and product development, although specific details were not disclosed in the report[28]. - The company plans to issue A-share convertible bonds, which have been accepted by the Shenzhen Stock Exchange[28]. - The issuance of convertible bonds is subject to approval from the China Securities Regulatory Commission, with uncertain timing[31]. Other Information - The company received government subsidies amounting to ¥9,733,540.52 during the reporting period[8]. - The total number of restricted shares at the beginning of the period is 998,325,171, with no new restricted shares added during the period[27]. - The company has not reported any changes in the number of restricted shares during the current period[27].

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥4.37 billion, a decrease of 1.44% compared to the same period last year[27]. - The net profit attributable to shareholders for the first half of 2022 was approximately ¥66.94 million, down 58.09% year-on-year[27]. - The net profit after deducting non-recurring gains and losses was approximately ¥43.23 million, a decline of 62.66% compared to the previous year[27]. - The basic earnings per share for the first half of 2022 were ¥0.0615, down 62.32% year-on-year[27]. - The company reported a total revenue of 3,383.01 million, reflecting a growth of 1.17% compared to the previous period[102]. - In Q2 2022, the company achieved a net profit of CNY 98.89 million, marking a return to profitability for the quarter[49]. Cash Flow and Assets - The net cash flow from operating activities increased significantly by 268.77% to approximately ¥392.51 million[27]. - The total assets at the end of the reporting period were approximately ¥7.95 billion, a decrease of 2.20% from the end of the previous year[27]. - The net assets attributable to shareholders increased by 1.59% to approximately ¥2.89 billion[27]. - As of the end of the reporting period, cash and cash equivalents amounted to ¥1,653,936,707.59, representing 20.81% of total assets, an increase of 0.57% compared to the previous year[85]. - Inventory decreased to ¥869,774,742.08, accounting for 10.94% of total assets, down by 0.26% from the previous year[85]. Operational Efficiency - The company experienced a significant increase in cash flow from operating activities, indicating improved operational efficiency[27]. - The company has implemented a strategy focusing on differentiated supply chains and localized services to enhance operational efficiency[50]. - The company has strengthened its supply chain management by implementing full-process control and digital management across procurement, warehousing, logistics, and distribution[70]. - The company has established a three-tier warehousing system, including central, regional, and city center warehouses, to enhance delivery efficiency and customer experience[58]. Store Operations and Expansion - The company opened 7 new stores and closed 2, ending the period with a total of 500 stores[51]. - The company operates 500 stores across various regions, with an average sales revenue per store of 776.74 thousand yuan, reflecting a year-on-year decline of 9.65%[56]. - The company has 500 direct-operated stores as of June 2022, with plans to open 169 new stores across 22 provinces in the next three years[114]. Membership and Customer Engagement - The number of "Black Gold" members reached 817,000 by the end of June 2022[50]. - The company has over 53 million members, with active users in the past year nearing 10 million, and membership revenue contributing over 96% of total sales[64]. - The company launched a paid membership program, "Black Gold PLUS," with over 810,000 members, achieving an annual value per member approximately 11 times that of regular members[64]. - In the first half of 2022, the company served 170,000 parent-child families, receiving positive feedback[137]. Digital Transformation - The company has developed a digital infrastructure that includes an app, mini-programs, and cloud POS systems, enabling seamless service across channels[68]. - The company has developed several digital tools, including "Human-Customer Integration" and "Cloud-Customer Integration," to enhance customer service and management efficiency[69]. - Online sales accounted for 48.61% of total sales in the first half of 2022[50]. Market Trends and Challenges - The Chinese maternal and infant market is projected to exceed CNY 4 trillion in 2023 and reach CNY 4.68 trillion by 2025[37]. - The birth rate in China has been declining since 2017, which may negatively impact the demand for maternal and infant retail products[112]. - The company faces risks related to economic slowdown and declining consumer spending power, which could affect its business performance[113]. Corporate Governance and Social Responsibility - The company has a governance structure aimed at protecting investor rights and ensuring transparent information disclosure[133]. - The company is committed to green operations and has implemented low-carbon store initiatives in response to national development goals[140]. - The company donated 5 million yuan to the Jiangsu Women's and Children's Welfare Foundation and conducted over 4,500 public welfare activities benefiting 210,000 families in the first half of 2022[142]. Financial Management and Investments - The company reported a significant reduction in financial expenses by 35.14%, mainly due to increased interest income[77]. - Research and development investment decreased by 10.98% to approximately ¥45 million[77]. - Total investments during the reporting period were ¥145,234,921.86, a decrease of 37.41% compared to ¥232,041,688.08 in the same period last year[93]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 26,551[184]. - Jiangsu Bosida holds 25.51% of the shares, totaling 277,563,504 shares, with no changes during the reporting period[184]. - The company reported a total of 1,088,000,000 shares, with 998,325,171 shares under limited sale conditions, representing 91.76% of the total[178].

Financial Performance - The company's revenue for Q1 2022 was CNY 2,109,431,199.60, a decrease of 2.90% compared to CNY 2,172,365,596.49 in the same period last year[5] - The net profit attributable to shareholders was a loss of CNY 32,435,088.10, representing a decline of 179.88% from a profit of CNY 40,602,291.57 in the previous year[5] - The company reported a basic earnings per share of -0.0298, down 171.81% from 0.0415 in the previous year[5] - Total operating revenue for the current period is ¥2,109,431,199.60, a decrease of 2.89% from ¥2,172,365,596.49 in the previous period[29] - Net profit for the current period is a loss of ¥32,879,531.92, compared to a profit of ¥40,602,291.57 in the previous period, indicating a significant decline[32] - The total profit (loss) for the current period is -¥46,074,128.39, compared to a profit of ¥47,435,422.27 in the previous period[32] Cash Flow - The net cash flow from operating activities was CNY 119,928,412.35, a significant improvement of 184.77% compared to a negative cash flow of CNY -141,475,320.11 in the same period last year[5] - Cash inflow from operating activities totals ¥2,414,345,455.52, a decrease from ¥2,484,030,073.36 in the previous period[36] - The net cash flow from investment activities was -$17.12 million, an improvement from -$348.72 million year-over-year[39] - Cash inflow from financing activities amounted to $134.32 million, with a net cash outflow of -$8.59 million[39] Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,015,360,246.56, a decrease of 1.36% from CNY 8,126,256,240.90 at the end of the previous year[5] - The company’s total liabilities increased significantly, with short-term borrowings rising to CNY 101,000,000.00, a 10,000% increase from CNY 1,000,000.00 in the previous year[8] - Total liabilities decreased from CNY 5,278,023,287.34 to CNY 5,198,046,824.92, a reduction of about 1.51%[28] - The total assets decreased from CNY 8,126,256,240.90 to CNY 8,015,360,246.56, a decline of approximately 1.37%[28] - The company's long-term borrowings increased from CNY 305,947,759.36 to CNY 331,654,332.85, an increase of about 8.43%[28] Equity and Investments - The company’s minority interest increased by 764.34% to CNY 1,713,840.15, primarily due to investments from minority shareholders in subsidiaries[8] - The total equity attributable to the parent company decreased from CNY 2,848,034,669.59 to CNY 2,815,599,581.49, a decline of approximately 1.14%[28] Operational Costs and Expenses - Total operating costs amount to ¥2,162,070,658.93, with operating costs specifically at ¥1,514,085,708.82, reflecting a slight increase from ¥1,555,588,022.82 in the previous period[32] - The company incurred research and development expenses of ¥23,986,967.89, slightly up from ¥23,451,728.07 in the previous period[32] - The company experienced a decrease in sales expenses, which are reported at ¥473,965,092.66, compared to ¥442,595,849.52 in the previous period[32] Cash and Equivalents - Cash and cash equivalents at the end of the period were CNY 1,610,770,862.59, down from CNY 1,644,720,279.61, representing a decrease of about 2.1%[22] - The ending cash and cash equivalents balance increased to $1.30 billion from $1.10 billion in the previous period[39] Other Financial Information - The company has not reported any new product developments or market expansion strategies in the current earnings call[34] - The company did not conduct an audit for the first quarter report[42]

Financial Performance - The company's operating revenue for 2021 was ¥9,048,876,572.42, an increase of 8.30% compared to ¥8,355,435,242.12 in 2020[33]. - The net profit attributable to shareholders for 2021 was ¥201,621,512.14, a decrease of 48.44% from ¥391,015,867.67 in 2020[33]. - The net cash flow from operating activities for 2021 was ¥598,604,182.19, down 31.05% from ¥868,110,184.18 in 2020[33]. - The total assets at the end of 2021 were ¥8,126,256,240.90, representing a 61.79% increase from ¥5,022,755,379.70 at the end of 2020[33]. - The company's basic earnings per share for 2021 was ¥0.2022, a decline of 49.37% compared to ¥0.3994 in 2020[33]. - The weighted average return on net assets for 2021 was 8.83%, down from 20.64% in 2020, indicating a significant decrease in profitability[33]. - The company reported a total of ¥80,096,859.75 in non-recurring gains and losses for 2021, slightly down from ¥80,701,502.01 in 2020[42]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥121,524,652.39, a decrease of 60.84% from ¥310,314,365.66 in 2020[33]. - The company's revenue for 2021 was 9.048 billion CNY, representing a year-on-year growth of 8.30%[59]. - The net profit attributable to shareholders for 2021 was 202 million CNY, a decrease of 48.44% year-on-year[59]. Market Conditions - The birth rate in China decreased to 7.52‰ in 2021, which may impact the retail industry for maternal and infant products due to a declining number of potential consumers[6]. - The retail market for maternal and infant products is influenced by economic growth and consumer spending, which have shown signs of slowing down[9]. - The company acknowledges the potential impact of declining economic growth on consumer purchasing power, which could adversely affect business performance[9]. - The company faced challenges due to a declining birth rate, which was 7.52‰ in 2021, down 1.00‰ from 2020[46]. - The implementation of the three-child policy and supporting measures is expected to stimulate demand in the maternal and infant products retail sector[46]. - The main driving force for the development of the maternal and infant industry in China is economic growth and the upgrading of consumption due to changes in family structure and parenting concepts[139]. - The birth rate in China has declined from 12.95‰ in 2016 to 7.52‰ in 2021, which may impact the maternal and infant retail industry[151]. Store Operations and Expansion - The company had a total of 495 direct-operated stores by the end of 2021, with an average revenue per store of 16.36 million yuan and a revenue per square meter of 6,905.77 yuan[10]. - The company has experienced a decline in average store revenue due to the impact of the pandemic and the opening of new stores, which require time to become profitable[10]. - The company is focused on expanding its store network, but faces risks associated with the market cultivation period and initial investments required for new stores[10]. - The company added 71 new stores and closed 10 stores during the reporting period, resulting in a total of 495 stores[60]. - The company has been expanding its store network, but regional economic disparities and competition may pose challenges to operational management during this expansion[154]. - The company faced risks in store expansion due to the need for market cultivation periods and upfront investments, which could lead to a decrease in average store revenue and revenue per square meter[153]. Online and Digital Strategy - Online platform revenue for 2021 was 841 million CNY, an increase of 12.06% year-on-year, accounting for 9.29% of total revenue[64]. - The company focuses on a data-driven, customer relationship-based business model, emphasizing "technology power + humanized service"[49]. - The company has developed a digital infrastructure with over 400 basic user tags and 1,000 intelligent models for personalized marketing[76]. - The company aims to enhance its digital capabilities and operational efficiency through new technology and platform developments[98][101]. - A new marketing strategy is being implemented, focusing on digital channels, which is expected to increase customer engagement by 40%[186]. Supply Chain and Procurement - The company has implemented a comprehensive supply chain management system to enhance product quality and procurement efficiency[78]. - The company will strengthen partnerships with maternal and infant product suppliers to optimize procurement costs while ensuring product quality[146]. - The company has established a three-tier warehousing system, including 1 central warehouse in Nanjing, 4 regional warehouses, and 15 city center warehouses[65]. - The company has integrated its KWMS warehouse management system with its OMS e-commerce system for optimized order logistics delivery[78]. Financial Management and Investments - The company reported investment income of CNY 55,789,924.92, representing 24.36% of total profit[105]. - The company invested CNY 518,951,038.10 during the reporting period, a significant increase of 145.87% compared to the previous year[117]. - The total amount of funds raised by the company in 2021 was RMB 628,391,468.59, with a net amount of RMB 556,122,565.88 after deducting issuance costs[123]. - The company completed the construction of the "Omni-channel Retail Terminal Construction Project" with a total investment of RMB 36,612.26 million, achieving an investment progress of 100.13%[127]. - The company adjusted the investment amount for the fundraising projects to RMB 55,612.26 million[124]. Governance and Management - The company has a governance structure in place, including a board of directors, supervisory board, and independent production operations, independent of the controlling shareholder[171]. - The company is committed to maintaining a transparent governance structure, ensuring no interference from controlling shareholders in its operations[171]. - The management team includes experienced professionals with backgrounds in various industries, enhancing the company's strategic direction[182]. - The company has established a clear timeline for the terms of its directors and supervisors, ensuring continuity in leadership[177]. - The company reported no changes in the shareholding of directors and senior management during the reporting period, with all holding 0 shares[175]. Future Outlook and Strategy - The company aims to enhance its core competitiveness and market leadership in the maternal and infant retail industry through digital supply chain construction and brand promotion[142]. - The company plans to expand its retail network in first-tier cities and fill potential markets in second and third-tier cities to increase market share[143]. - The company is focused on talent development, aiming to improve management levels and operational efficiency through training and recruitment[147]. - The company will actively seek asset acquisitions and partnerships to enhance its marketing network and brand influence in the maternal and infant market[150]. - The company provided guidance for the next fiscal year, projecting a revenue growth of 25% to 1.875 billion RMB[186].

Revenue and Profit - The company's revenue for Q3 2021 was ¥2,159,281,389.07, representing a 9.21% increase year-over-year, while the year-to-date revenue reached ¥6,597,121,809.84, up 13.29% compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2021 was ¥77,049,289.85, a decrease of 17.20% year-over-year, with year-to-date net profit at ¥236,792,212.82, down 8.55% compared to the previous year[4] - The company's net profit for the nine months ended September 30, 2021, decreased by 8.55%, while the net profit excluding non-recurring gains and losses decreased by 15.82%[30] - Net profit for Q3 2021 was ¥236,792,212.82, compared to ¥258,914,057.13 in Q3 2020, reflecting a decrease of approximately 8.5%[41] - The company's net profit after deducting non-recurring gains and losses was ¥58,493,286.41 for Q3 2021, a decrease of 23.47% year-over-year[4] - If excluding the impact of the new leasing standards, the net profit for the nine months ended September 30, 2021, would have increased by ¥17.82 million, representing a growth of 6.88%[30] Assets and Liabilities - The company's total assets as of September 30, 2021, were ¥7,357,740,807.24, an increase of 46.49% from the end of the previous year[4] - Total assets as of September 30, 2021, amounted to ¥7,357,740,807.24, significantly higher than ¥5,022,755,379.70 as of December 31, 2020[37] - Total liabilities reached ¥5,030,658,002.85 as of September 30, 2021, compared to ¥2,932,464,788.13 at the end of 2020, marking an increase of approximately 71.6%[37] - The company's liabilities saw a dramatic increase in non-current liabilities due within one year, which rose by 6197.64% to ¥528,940,926.08, due to the new leasing standards[13] - Non-current liabilities surged from 244,710,502.97 to 2,769,162,144.83, an increase of 1,030.5%[59] - Total liabilities rose from 2,932,464,788.13 to 5,809,423,990.12, reflecting an increase of 97.5%[59] Cash Flow - Cash flow from operating activities for the year-to-date period was ¥323,454,382.13, reflecting a decline of 7.85% compared to the previous year[4] - The net cash flow used in investment activities for the nine months ended September 30, 2021, was -$237.76 million, a decrease of 73.28% compared to -$889.94 million for the same period in 2020[19] - The net cash flow from financing activities for the nine months ended September 30, 2021, was -$482.79 million, a decrease of 539.61% compared to $109.82 million for the same period in 2020[19] - The net cash flow from operating activities was ¥323,454,382.13, a decrease of 7.67% from ¥351,012,211.73 in the previous period[49] - The net cash flow from investing activities was -¥237,762,068.35, an improvement from -¥889,942,919.40 in the previous period[52] Expenses - The company's financial expenses surged by 240.68% to ¥106,955,302.27, primarily due to the implementation of new leasing standards[14] - Research and development expenses for Q3 2021 were ¥71,652,964.13, up from ¥62,331,715.83 in Q3 2020, indicating an increase of about 15.5%[41] - The company reported a significant increase in sales expenses, which rose to ¥1,383,645,071.63 in Q3 2021 from ¥1,096,663,181.23 in Q3 2020, an increase of about 26.1%[41] - The company paid ¥943,082,601.90 to employees, an increase from ¥692,806,839.06 in the previous period[49] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was not specified, but the top three shareholders held 53.89% of the shares[22] - The company issued 108,906,667 shares at a price of ¥5.77 per share on October 14, 2021, increasing the registered capital from ¥979,093,333 to ¥1,088,000,000[29] Other Financial Metrics - The weighted average return on equity was 3.37% for Q3 2021, down 1.50% year-over-year, while the year-to-date return on equity was 10.72%, a decrease of 3.44% compared to the same period last year[4] - Basic and diluted earnings per share were both ¥0.2418, down from ¥0.2644 in the previous period[45] - The company reported a total comprehensive income of ¥236,792,212.82, down from ¥258,914,057.13 in the previous period[45] Future Outlook - The company is expected to continue its market expansion and product development strategies in the upcoming quarters[61] - The company has not yet audited its third-quarter report, which may affect the reliability of the financial data presented[62]