ZBOM(SH:603801)2022-05-25 16:00Financial Performance - In 2021, the company achieved a revenue of 5.153 billion yuan, representing a year-on-year growth of 34.17%[5] - The company's operating revenue for 2021 was ¥5,152,797,815.61, representing a 34.17% increase compared to ¥3,840,444,626.70 in 2020[32] - The net profit attributable to shareholders for 2021 was ¥505,521,106.30, a 27.84% increase from ¥395,444,122.80 in 2020[32] - The net cash flow from operating activities for 2021 was ¥496,020,769.67, showing a decrease of 23.58% compared to ¥649,064,563.04 in 2020[32] - The total assets at the end of 2021 were ¥5,298,054,969.75, an increase of 28.34% from ¥4,128,241,987.06 at the end of 2020[35] - The basic earnings per share for 2021 was ¥1.6202, reflecting a 28.70% increase from ¥1.2589 in 2020[36] - The weighted average return on equity for 2021 was 21.16%, an increase of 1.99 percentage points from 19.17% in 2020[36] - The company reported a net profit of ¥205,450,504.31 in Q4 2021, with total revenue for the quarter reaching ¥1,830,624,417.05[37] - The net profit attributable to shareholders for Q3 2021 was ¥148,306,350.14, with revenue of ¥1,413,936,363.66[37] Market Strategy and Expansion - The company plans to pursue a target of 10 billion yuan in revenue over the next three years, emphasizing a commitment to market expansion[5] - The company plans to continue expanding its market presence and developing new products to enhance growth prospects[1] - The company is diversifying its marketing strategies, combining traditional distribution channels with innovative online and offline platforms[8] - The company has established a robust distribution network with 1,263 kitchen cabinet dealers and 1,691 stores, as well as 1,211 custom wardrobe dealers and 1,619 stores by the end of 2021[113] - The company is exploring potential acquisitions to enhance its product portfolio and market presence[199] - The company plans to accelerate its expansion in southern regions, establishing a subsidiary in Guangzhou to strengthen its market presence and support local franchisees[183] Product Development and Innovation - The company is focusing on enhancing product competitiveness through user experience and top-level design, with ongoing investment in new materials and product innovation[6] - The company has expanded its product offerings to include nine major categories, maintaining a competitive edge in the custom home furnishing market[80] - The company has implemented a "cloud design" application to allow customers to participate in the design process, improving engagement and satisfaction[91] - The company is elevating its focus on the whole-house customization model, leveraging its brand advantages and experience to capture growth opportunities in this new market segment[179] - The company has introduced advanced manufacturing technologies, achieving over 70% automation in its digital workshops, which supports efficient production processes[122] Research and Development - Research and development expenses amounted to 281 million yuan, accounting for 5.46% of total revenue, with 862 R&D personnel representing 16.25% of the total workforce[61] - The company has a strong R&D capability, recognized as a "High-tech Enterprise," and has established partnerships with universities for comprehensive research and development[108] - The design training institute has focused on content output and talent cultivation, producing over 500 design cases to improve design efficiency and standards[110] - R&D expenses totaled ¥281,506,217.33, accounting for 5.46% of total revenue[143] Customer Experience and Service - The company established a "butler-style installation service system" to enhance customer service experience throughout the order installation process[62] - The company has implemented a customer-centric service model, enhancing installation services to improve customer satisfaction and strengthen franchisee capabilities[99] - The company has implemented a "butler-style" service model, enhancing customer experience with a standardized service process, resulting in a significant increase in completion rates and positive customer feedback[64] Financial Management and Governance - The company has established a sound internal control system and effectively operates its internal control system to protect the rights of shareholders[189] - The independent directors have actively participated in company decision-making and have not raised objections to any board resolutions[189] - The company is committed to enhancing its corporate governance structure and maintaining compliance with relevant laws and regulations[189] - The total pre-tax remuneration for the chairman was 94.20 million yuan, while the CEO received 89.67 million yuan[196] Industry Trends and Challenges - The company acknowledges the challenges posed by geopolitical factors and commodity price increases in 2022, which will drive improvements in its competitive capabilities[6] - The custom home furnishing industry is experiencing a shift towards a "stock era," with a focus on renovation opportunities in old residential areas, as indicated by the government's plan to renovate 53,000 old urban communities in 2021[74] - The company faces intensified competition in the customized furniture industry, which may lead to a decline in average profit margins, necessitating a focus on brand and design advantages[184] - The company is addressing risks associated with uncertainties in real estate policies, enhancing risk control in large-scale business and diversifying its customer structure[185] - The company is managing risks related to fluctuations in raw material prices by maintaining a robust supplier management system and ensuring stable supply and cost control[187]