A-Zenith(603389)2023-04-24 16:00Financial Performance - In 2022, the company's operating revenue was CNY 236,878,156.61, a decrease of 14.16% compared to CNY 275,957,624.10 in 2021[22]. - The net profit attributable to shareholders was CNY -89,549,643.17, compared to CNY -66,834,881.92 in the previous year[22]. - The net cash flow from operating activities was CNY -15,465,066.92, an improvement from CNY -27,419,014.24 in 2021[22]. - The total assets at the end of 2022 were CNY 791,555,619.40, down 7.27% from CNY 853,608,268.18 at the end of 2021[22]. - The net assets attributable to shareholders decreased by 15.6% to CNY 505,872,100.19 from CNY 599,391,180.65 in 2021[22]. - The company's revenue after deducting non-main business income was CNY 214,284,831.95, a decrease of 13.88% from CNY 248,820,023.13 in 2021[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -96,360,060.08, compared to CNY -85,223,874.46 in the previous year[22]. - The company reported a significant increase in inventory levels for certain product categories, with a 218.18% increase in other products[78]. - The company reported a net loss of ¥117.91 million in 2022, compared to a loss of ¥28.36 million in 2021, indicating a worsening financial position[194]. Operational Challenges - The company faced significant challenges due to temporary store closures in key cities like Shanghai and Beijing, alongside a slowdown in the domestic economy[30]. - Revenue from the East China region fell by CNY 50,646,300, a decline of 29.01%, which was a major contributor to the overall revenue drop[77]. - The sales revenue from the dealer business decreased by 35.64%, leading to a gross margin decline of 16.33%[77]. - The production volume of cabinets decreased by 34.79%, while sales volume dropped by 24.28%[78]. - The furniture retail market in China saw a decline of 7.5% year-on-year in 2022, with total retail sales of furniture products at 163.5 billion yuan[39]. Strategic Initiatives - The company has been focusing on enhancing brand influence and expanding its product matrix to improve competitiveness[30]. - The company aims to develop high-end customization and talent transformation to strengthen its market position[30]. - The company has established a comprehensive integrated operation model focusing on R&D, manufacturing, and marketing, enhancing its brand image and market position[62]. - The company has integrated digital flexible manufacturing into its new high-end customization workshop to enhance product design and delivery processes[36]. - The company aims to enhance its brand matrix and focus on high-end home living products, integrating art and fashion into everyday life[101]. Research and Development - The company developed a total of 212 new products in 2022, including 168 newly developed products and 44 upgraded products[31]. - R&D expenses decreased by 23.77% to CNY 10.97 million, reflecting reduced investment in research materials[74]. - The total R&D expenditure for the period was CNY 10,942,987.53, reflecting a decrease in material inputs[85]. - R&D investment accounted for 4.62% of total revenue[86]. - The number of R&D personnel is 132, representing 12% of the total workforce[87]. Corporate Governance - The company has established a complete corporate governance structure in compliance with relevant laws and regulations[114]. - The company’s board of directors and supervisory board operated independently without any issues requiring regulatory rectification[114]. - The company has not faced any penalties from securities regulatory agencies in the past three years[122]. - The company held one annual general meeting and four board meetings during the reporting period[115]. - The total remuneration for all directors, supervisors, and senior management amounted to 4.2099 million yuan[121]. Environmental and Social Responsibility - The company invested 77.6 million RMB in environmental protection during the reporting period[143]. - The company reduced VOC emissions significantly by switching from oil-based to water-based paints, resulting in a substantial decrease in organic waste gas[143]. - The company contributed 10 million RMB to poverty alleviation and rural revitalization projects, benefiting 324 individuals through skills training[146]. - The company has implemented measures to reduce noise pollution, ensuring compliance with industrial noise emission standards[143]. - The company maintains a good integrity status, adhering to all relevant laws and regulations without any major legal issues[152]. Shareholder Information - The total number of ordinary shareholders increased from 9,794 to 10,370 during the reporting period[160]. - The largest shareholder, Shanghai Yazhen Investment Co., Ltd., reduced its holdings by 2,627,507 shares, now holding 165,852,493 shares, representing 63.12% of total shares[163]. - The company completed a share buyback of 1,285,380 shares, accounting for 0.49% of the total share capital, with a total buyback amount of 10,000,000 RMB[170]. - The actual controllers of the company are Gao Wei, Hu Meiyun, and Gao Yinan, with no foreign residency rights[166]. - The company has no significant restrictions on share reduction or repurchase during the reporting period[169].