FSM(002818)2025-02-27 12:40Dividend Distribution - The company plans to distribute a cash dividend of 6.8 RMB per 10 shares to all shareholders, based on a total of 748,458,940 shares[4] - The company has maintained a continuous cash dividend policy since its listing, with a total cash dividend exceeding 4.2 billion yuan and a cumulative cash dividend of over 2.2 billion yuan in the last three years, accounting for 88% of the company's net profit during that period[119] - The company aims to maintain a stable profit distribution policy, prioritizing cash dividends of at least 10% of the distributable profits each year[188] - The cash dividend for the fiscal year is set at RMB 6.8 per 10 shares, amounting to RMB 508,952,079.20, with a total distributable profit of RMB 3,080,745,729.66, representing 100% of the profit distribution[191] Financial Performance - The company's operating revenue for 2024 was ¥1,429,881,171.12, a decrease of 6.18% compared to ¥1,524,072,551.32 in 2023[20] - Net profit attributable to shareholders for 2024 was ¥690,257,240.79, down 14.39% from ¥806,270,164.16 in 2023[20] - Basic earnings per share for 2024 were ¥0.92, a decline of 14.81% from ¥1.08 in 2023[20] - The company reported a decrease in net assets attributable to shareholders, which stood at ¥5,812,148,594.24 at the end of 2024, down 1.99% from ¥5,930,227,008.65 in 2023[20] - The company experienced a decline in the average return on equity, which was 11.78% in 2024 compared to 13.62% in 2023[20] - The total operating revenue for 2024 was ¥1,429,881,171.12, representing a decrease of 6.18% compared to ¥1,524,072,551.32 in 2023[60] - The revenue from market leasing and services accounted for 87.20% of total revenue, amounting to ¥1,246,890,474.46, down 4.52% from the previous year[60] - The gross profit margin for the business services sector was 67.24%, a decrease of 2.94% year-on-year[62] Market Environment - The total sales area of newly built commercial housing in the country decreased by 12.9% in 2024, indicating a challenging market environment[29] - The company anticipates a recovery in the home furnishing market driven by national policies promoting home renovation and consumption upgrades, indicating a positive outlook for the second half of 2024[33] - The company noted that the real estate market is expected to stabilize due to supportive measures, including the optimization of housing transaction conditions and tax adjustments[32] - The company is positioned to benefit from the ongoing recovery in the home furnishing market, supported by favorable government policies and increased consumer demand[33] - The national sales of building materials and home furnishing markets reached ¥1,490.83 billion in 2024, a year-on-year decline of 3.85%[34] - The new housing market saw a sales area of 974 million square meters in 2024, down 12.9% year-on-year, marking a continuous decline for three years since 2021[36] Governance and Compliance - The company emphasizes the importance of accurate financial reporting and has ensured that all board members attended the meeting to review the annual report[4] - The report outlines the company's governance structure, including the roles of the board of directors and supervisory board[4] - The company has a well-defined corporate governance structure, ensuring clear responsibilities among the shareholders' meeting, board of directors, and supervisory board[122] - The company has established a robust governance framework with specialized committees, including a strategic committee and an audit committee, to ensure effective decision-making[133] - The company has implemented a written agreement for related party transactions, ensuring fair pricing and protecting the interests of minority shareholders[144] - The company’s board of directors is responsible for the establishment and effective implementation of internal controls, with oversight from the audit committee[196] Risk Management - The report includes a detailed description of potential risks in the company's operations and corresponding countermeasures[4] - The company has established a comprehensive internal control system and risk assessment framework to ensure the legal operation and scientific decision-making of the board of directors and supervisory board[143] - The company recognizes the risks posed by external market fluctuations and intends to mitigate these through service upgrades and cost efficiency measures[110] - The company is aware of the potential impact of sudden events on its operations and is taking steps to improve emergency management and safety protocols[110] Strategic Initiatives - The company is focused on expanding its market presence and enhancing its product offerings through new technologies and innovations[12] - The company aims to enhance operational efficiency and service quality to meet diverse consumer demands in the home furnishing sector[39] - The company is committed to developing new retail, financial services, and import-export services to enhance its service capabilities across the entire industry chain[43] - The company plans to shift its operational model from comprehensive to operational management, enhancing collaboration with merchants to ensure stable operations[99] - The company intends to expand its import and export business while solidifying existing operations, aiming to introduce new business models and support services[106] Employee and Management Structure - The total number of employees at the end of the reporting period is 679, with 370 in the parent company and 309 in major subsidiaries[184] - The company has a total of 235 management personnel and 109 technical personnel among its employees[184] - The company has established a performance evaluation system that aligns with its strategic development goals, focusing on creating economic value[185] - The company plans to enhance its salary incentive system, linking employee compensation closely with company performance and individual contributions[185] Marketing and Brand Strategy - The company successfully launched the upgraded "Fusenmei Online 3.0" mini-program, achieving over 6 million customer visits and online payment totals of 320 million yuan in 2024[55] - The company provided direct consumer subsidies exceeding 21 million yuan through various promotional activities, significantly boosting sales in the marketplace[55] - The company’s marketing strategies included the release of 98,600 short videos, generating a total view count of 49.24 million times, enhancing brand visibility and customer engagement[55] - The company actively utilizes social media platforms like 抖音 and 小红书 to promote its brand story and 党建 culture, expanding its brand influence[127] Community Engagement and Corporate Social Responsibility - The company has created over 2,000 job opportunities for the local community, significantly impacting employment in the home furnishing sector[128] - The company has been actively involved in community service and charitable activities, reflecting its corporate social responsibility[162] Future Outlook - The company aims to expand its market strategy by exploring the home improvement and decoration sectors, targeting a significant scale effect and supply capacity by 2025[98] - The company is committed to leveraging new media and technology to enhance customer engagement and drive sales growth in the home furnishing sector[100] - The company recognizes the challenges posed by the real estate cycle, which affects home furnishing demand, and is adapting its strategies accordingly[94]