波司登(03998) - 2024 - 年度业绩

Financial Performance - Revenue increased by 38.4% year-on-year to approximately RMB 23,214.0 million[2] - Gross profit margin slightly increased by 0.1 percentage points to approximately 59.6%[2] - Operating profit rose by 55.6% year-on-year to approximately RMB 4,397.6 million[2] - Profit attributable to equity shareholders increased by 43.7% year-on-year to approximately RMB 3,074.1 million[2] - Net profit for the year was RMB 3,120.1 million, compared to RMB 2,156.4 million in the previous year[6] - Basic earnings per share increased to RMB 28.34 from RMB 19.75[6] - Total revenue for the year ended March 31, 2024, reached RMB 23,214,033 thousand, a significant increase from RMB 16,774,220 thousand in the previous year, representing a growth of approximately 38.5%[15] - The profit before tax for the year ended March 31, 2024, was RMB 4,541,210,000, compared to RMB 2,887,313,000 for the year ended March 31, 2023, indicating an increase of about 57.5%[18] - The total comprehensive income for the year ended March 31, 2024, was RMB 4,541,210,000, compared to RMB 2,887,313,000 for the year ended March 31, 2023, indicating a growth of about 57.5%[18] Revenue Breakdown - Revenue from clothing sales amounted to RMB 23,041,393 thousand, up from RMB 16,603,642 thousand, indicating a growth of about 38.5% year-over-year[15] - Revenue from external customers for down jackets reached RMB 19,521,311,000 for the year ended March 31, 2024, up from RMB 13,574,497,000 in the previous year, reflecting a growth of approximately 44.0%[17] - The OEM management business recorded revenue of RMB 2,669.7 million, contributing 11.5% to total revenue, and grew by 16.4% year-on-year[58] - The women's wear business achieved revenue of RMB 819.8 million, making up 3.5% of total revenue, with a year-on-year increase of 16.6%[58] - The diversified clothing business generated revenue of RMB 203.2 million, accounting for 0.9% of total revenue, with a slight increase of 0.3% year-on-year[58] Dividends and Shareholder Returns - The board proposed a final dividend of 20.0 HK cents per share[2] - The proposed final dividend of HKD 0.20 per share amounts to approximately RMB 2,001,530,000, compared to RMB 1,354,379,000 for the previous year, indicating a 47.6% increase[54][56] - The total dividends payable for the year reached RMB 2,494,170,000, up from RMB 1,784,412,000 in the previous year, marking a 39.8% increase[54] Assets and Liabilities - Total assets less current liabilities amounted to RMB 14,588.1 million[8] - Cash and cash equivalents increased to RMB 6,227.0 million from RMB 3,718.2 million[7] - Inventory rose to RMB 3,197.5 million from RMB 2,689.3 million[7] - Trade receivables and notes receivable total RMB 1,585,095,000 as of March 31, 2024, up from RMB 1,010,653,000 in 2023[40] - Trade payables increased significantly to RMB 1,308,359,000 from RMB 667,461,000, reflecting a growth of 96% year-over-year[47] - The total amount of notes payable rose to RMB 3,868,527,000, compared to RMB 2,429,863,000, marking a 59.5% increase[47] Operational Efficiency - The company operates through four main segments: down jackets, OEM management, women's wear, and diversified clothing, which includes seasonal clothing like school uniforms and children's wear[14] - The company’s management monitors segment performance based on revenue and expenses, with segment profit defined as revenue minus cost of sales and direct administrative expenses[16] - The company has implemented a unified inventory management platform across 9 major warehouses and 12 smaller warehouses, enhancing operational efficiency[66] - The logistics system automatically matches transportation resources to each order, maximizing service efficiency while maintaining reasonable costs[70] Market and Brand Development - The company has experienced a dual enhancement in brand value and operational performance despite external pressures, indicating resilience in achieving sustainable high-quality development[57] - Bosideng was ranked 47th in the Brand Finance "2023 Global Apparel Brands" list and improved its position in the "China Brand Value 500" list by 30 places to 145th[62] - The company launched a new line of sun-protective clothing in spring/summer 2023, which received positive consumer feedback due to its innovative fabric and design[63] - The company collaborated with Douyin to create the "China Good Down" IP, enhancing brand visibility and consumer engagement through a snow mountain pop-up store[64] Research and Development - The company has invested in advanced research and technology, focusing on new categories and materials, with its champion thermal comfort ski suit winning the ISPO award in the 2023/24 fiscal year[69] - The group filed 545 patents in the 2023/24 fiscal year, bringing the total to 971 patents as of March 31, 2024, enhancing its position as an expert in down jackets[74] Corporate Governance and Compliance - The company has complied with the corporate governance code, except for the separation of roles between the chairman and CEO, which is held by the same individual due to his unique experience and reputation in the industry[136] - The audit committee reviewed the accounting principles and practices adopted by the group and discussed financial reporting matters with the auditors[137] - The auditors, KPMG, confirmed that the financial figures in the annual report are consistent with the group's consolidated financial statements[138] Employee and Talent Management - The total employee cost for the year ended March 31, 2024, was approximately RMB 2,656.6 million, an increase from RMB 1,839.8 million in the previous fiscal year[127] - The company employed 11,831 full-time employees as of March 31, 2024, a decrease of 352 from the previous year[127] - The company has established a comprehensive talent development system, outputting 736 outstanding university students, 112 backup managers, 37 backup directors, and 18 retail general managers through the "Eagle System" project[131] Sustainability and ESG - The group is committed to integrating ESG principles into its management to promote sustainable high-quality development[123] - The company maintained an MSCI ESG rating of A, leading in the Chinese textile and apparel industry[124]