Shanghai Jahwa(600315)2024-03-15 16:00Revenue and Financial Performance - Online revenue reached ¥2,810,291,419.71, an increase of 61.73% year-on-year, while offline revenue was ¥3,776,788,844.57, up 56.87% year-on-year, leading to a total revenue of ¥6,587,080,264.28, a growth of 58.94%[7] - The company's net profit decreased year-on-year primarily due to a continuous decline in offline channel traffic, leading to a decrease in revenue, coupled with rising procurement prices that reduced gross margin[36] - The net profit of Shanghai Jahwa Hainan Daily Chemical Co., Ltd. increased year-on-year due to personnel restructuring, resulting in reduced employee compensation and share-based payment expenses[36] - The company achieved a revenue of 6.598 billion yuan, a year-on-year decrease of 7.16%[192] - Gross margin was 58.97%, an increase of 1.85 percentage points year-on-year[192] - Net profit attributable to shareholders was 500 million yuan, a year-on-year increase of 5.93%[192] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 315 million yuan, a year-on-year decrease of 41.82%[192] Organizational Structure and Human Resources - The company established a new organizational structure with business divisions for beauty and skincare, maternal and infant care, personal care, and overseas operations, enhancing decision-making speed and market responsiveness[3] - The company hired 346 new employees, with an average age of 30, including 79 managerial positions, to strengthen sales management and digital operations[3] - The total number of employees in the company is 4,824, with 932 in the parent company and 3,892 in major subsidiaries[85] - The company has a performance evaluation system that emphasizes KPI alignment with individual and company goals, enhancing employee development pathways[86] - The company has established a transparent performance evaluation and incentive mechanism for directors, supervisors, and senior management[75] Product Development and Innovation - The new product "启初胚米面霜" received a "双易" certification, enhancing consumer trust in product quality and safety[2] - The company aims to enhance its product innovation capabilities through stable OEM/ODM partnerships, supporting business growth across various brands[19] - The company focused on four major product lines, with the core brand audience increasing by 44.3%[196] - The new Taiji series "Bubble Water" sales exceeded 100 million yuan[196] - The oil-sensitive cream launched in April became a top-selling SKU, contributing over 100 million yuan in sales[196] - The company has 179 R&D personnel, accounting for 3.71% of the total workforce[199] - The R&D team includes 8 PhD holders, 45 master's degree holders, and 88 bachelor's degree holders[199] Market Position and Competition - The brand "佰草集" holds a 0.6% market share in the department store skincare market, while "六神" has over 80% market share in the adult floral water market[18] - The company is focusing on cross-industry collaborations to strengthen its high-end brand image, as seen with partnerships with cultural institutions[2] Financial Management and Investments - Investment cash inflow decreased by 44.56% to ¥1,842,088,903.97, primarily due to a reduction in bank wealth management redemptions[14] - The total investment in private equity increased from approximately 625.53 million to 644.21 million, reflecting a fair value change of 50.77 million[29] - The total investment in bank wealth management and asset management products rose from approximately 2.22 billion to 2.48 billion, with a fair value change of 57.47 million[29] - The company has entrusted cash asset management with a total amount of ¥200,000,000, initiated on January 17, 2022, with flexible terms[160] - The company has multiple bank wealth management products totaling ¥1,800,000,000, with various initiation dates and expected returns[161] Governance and Compliance - The company is committed to improving its governance structure and operational compliance, adhering to relevant laws and regulations[42] - The company has established a comprehensive risk management system and continuously improves internal control processes and tools[46] - The company held 5 meetings of the Audit and Risk Management Committee during the reporting period, focusing on annual audit arrangements and risk management work[46] - The company’s independent directors actively participated in committee meetings, providing nine independent opinions to enhance corporate governance[44] - The company has implemented a robust internal control system in compliance with relevant laws and regulations to enhance management levels[75] Social Responsibility and Community Engagement - Total investment in public welfare projects amounted to 2.94 million yuan, benefiting 43,993 people[97] - Total investment in poverty alleviation and rural revitalization projects reached 1.65 million yuan, helping 11,098 individuals[99] - Environmental protection funding during the reporting period was 3.246 million yuan[118] - The company established a green supply chain, promoting energy conservation and clean production[120] - The company donated skincare products to support border soldiers affected by previous floods in the Beijing-Tianjin-Hebei region[123] - The company partnered with a charity supermarket for autistic youth, donating products and committing all sales proceeds to charity[123] - The company organized educational activities for students from rural areas, enhancing their exposure to urban culture and patriotism[123] - The company donated hygiene and cleaning supplies to impoverished residents in the local community, contributing to social welfare initiatives[124] - The company has actively engaged in community support, including educational initiatives for rural teachers[124] - The company continues to focus on social responsibility, including partnerships to support employment for special youth[124] Shareholder Information and Stock Performance - The company has a total of 678,873,194 shares, with a decrease of 2,649,334 shares during the reporting period[147] - The top shareholder, Shanghai Jahwa (Group) Co., Ltd., holds 344,927,001 shares, representing 51.01% of the total shares[149] - The number of ordinary shareholders decreased from 46,968 to 46,651 during the reporting period[148] - The company completed the repurchase and cancellation of 2,649,334 restricted stocks due to performance assessment failures in the 2020 and 2022 incentive plans[168] - The top ten shareholders include National Social Security Fund with 11,200,000 shares, accounting for a significant portion of the total shares[170] - The company reported non-operating income from the disposal of non-current assets amounting to RMB 12,309.18 in 2023, compared to RMB 1,081,072.46 in 2022[190] - Government subsidies recognized in the current period amounted to RMB 7,049,441.91, an increase from RMB 3,427,705.16 in the previous year[190] - The fair value changes of financial assets and liabilities resulted in a gain of RMB 203,761,014.77, contrasting with a loss of RMB 89,671,179.85 in 2022[190] Legal and Regulatory Matters - There were no significant litigation or arbitration matters reported for the year, indicating a stable legal environment for the company[131] - The company has not disclosed any significant related party transactions during the reporting period[156] - The company has not faced any situations leading to potential delisting[153] - The company has not made any asset or equity acquisitions or disposals that require disclosure[154] - The company has not recognized any impairment provisions for entrusted loans[164] - The company has not reported any changes in shareholder structure due to new share placements[152] - The company has not disclosed any fundraising progress during the reporting period[164] - The company has not reported any related debt transactions that require disclosure[156]