*ST步高(002251) - 2018 Q4 - 年度财报

Financial Performance - The total operating revenue for 2018 was approximately ¥18.40 billion, representing a 6.65% increase compared to ¥17.25 billion in 2017[16] - The net profit attributable to shareholders of the listed company for 2018 was approximately ¥155.56 million, a 3.45% increase from ¥146.45 million in 2017[16] - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥117.42 million, showing a decrease of 3.27% from ¥120.52 million in 2017[16] - The net cash flow from operating activities increased by 27.54% to approximately ¥1.43 billion, compared to ¥1.13 billion in 2017[16] - The total assets at the end of 2018 were approximately ¥20.91 billion, a 24.32% increase from ¥16.02 billion at the end of 2017[17] - The net assets attributable to shareholders of the listed company increased by 20.07% to approximately ¥7.49 billion, compared to ¥6.23 billion at the end of 2017[17] - The basic earnings per share for 2018 was ¥0.1801, reflecting a 3.45% increase from ¥0.1695 in 2017[16] - The weighted average return on net assets for 2018 was 2.24%, a decrease of 0.18% from 2.37% in 2017[17] Dividends and Shareholder Returns - The company proposed a cash dividend of ¥1.00 per 10 shares, based on a total of 863,903,951 shares[4] - In 2018, the company distributed cash dividends totaling 86,390,395.10 yuan, representing 55.54% of the net profit attributable to shareholders[126] - The company has implemented a cash dividend policy that aligns with its financial health and shareholder interests, ensuring a minimum of 20% of profits are distributed as dividends[126] - The company plans to distribute cash dividends amounting to no less than 20% of the distributable profit each year during the 2018-2020 period[133] Store Operations and Expansion - The company opened a total of 341 stores across various formats in regions including Hunan, Guangxi, Jiangxi, Sichuan, and Chongqing[26] - The company opened 38 new supermarket stores and 2 department stores while closing 15 underperforming locations[37] - As of December 31, 2018, the company operated a total of 341 stores, including 290 supermarkets and 51 department stores[37] - The company has expanded its chain operations to 14 cities in Hunan Province and parts of Jiangxi, Guangxi, Sichuan, and Chongqing, facing risks related to regional consumer preferences[115] Digital Transformation and Innovation - The company implemented a digital transformation strategy to enhance operational efficiency and adapt to market changes[28] - The digital membership reached 5.008 million, with new customers accounting for 63% and membership sales representing 63.8%[39] - The company has partnered with Tencent and JD.com to enhance digital transformation and supply chain efficiency[40] - The first smart retail flagship store with Tencent was launched, focusing on payment, navigation, and precision marketing[38] - The company is focusing on integrating online and offline retail, collaborating with Tencent and JD.com to leverage their strengths in data analysis and supply chain management[116] Financial Management and Investments - The company’s R&D expenses increased by 104.42% to CNY 863.77 million, reflecting a focus on innovation[50] - The company reported a significant increase in equity assets due to a 46.71% investment in Jiangxi Gaochuang Agricultural Technology Co., Ltd.[29] - The company has committed to using the raised funds for specific projects, with ongoing management to track their usage[101] - The company has a solid plan for utilizing raised funds and its own capital to support development projects and financing strategies[116] Market Challenges and Strategic Focus - The company faced challenges such as slow consumption recovery and rising operational costs due to intense market competition[27] - The company anticipates challenges from fluctuations in consumer demand influenced by economic cycles and consumer confidence[113] - The company acknowledges the risk of declining market share and profitability due to intensified competition in the retail sector[114] - The company is committed to becoming a trusted, employee-friendly, leading omni-channel retailer in Central and Western China[113] Mergers and Acquisitions - The company acquired 100% equity of Nanning Jiangxianghe Trading Co., Ltd. for a total cost of CNY 37,560,000 on July 6, 2018, with a net profit contribution of CNY 1,097,440.87 since acquisition[65] - The company completed a merger with Bubu Gao Southwest Commercial Management Co., Ltd. on October 12, 2018, with a merger cost of CNY 1,136,000,000 and reported revenue of CNY 226,704,023.27 from the acquired entity[67] - The identifiable net assets of Bubu Gao Southwest Commercial Management Co., Ltd. at the time of acquisition included cash of CNY 1,213,845.29 and other receivables totaling CNY 223,601,858.56[68] Social Responsibility and Community Engagement - The company actively engaged in social responsibility, including a "1+1" pairing assistance plan that involved 874 middle and senior management personnel helping 1,064 individuals in poverty-stricken areas[187] - The "Point Stone Plan" facilitated connections with nearly 26 impoverished areas, resulting in strategic cooperation agreements with local governments[187] - The company signed a strategic cooperation contract with the Hunan Provincial Agricultural Committee to establish a platform for the sale of high-quality agricultural products from impoverished areas, generating CNY 1.2 billion in sales contracts[188] - The company has supported over 10,000 individuals from impoverished areas through employment opportunities in its stores[190] Compliance and Governance - The company has maintained a commitment to transparency and investor relations, ensuring equal access to information for all shareholders[184] - The company confirmed that all shareholders complied with the commitments made during the reporting period[128] - The controlling shareholder, Zhong Yongli, committed to avoiding competition with the company and adhered to this commitment throughout the reporting period[129] - The company has not experienced any non-operating fund occupation by controlling shareholders during the reporting period[135]