Financial Performance - For the year ended December 31, 2023, the group's revenue and gross profit reached RMB 6,912.30 million and RMB 5,204.99 million, representing increases of 22.05% and 22.34% respectively compared to the year ended December 31, 2022[2]. - The profit for the year was RMB 832.63 million, an increase of 121.78% or RMB 457.20 million compared to RMB 375.43 million for the year ended December 31, 2022[2]. - The net profit margin for the year ended December 31, 2023, was 12.05%, up from 6.63% in 2022[2]. - Basic earnings per share for the year were RMB 1.24, compared to RMB 0.57 in 2022[2]. - The group's pre-tax profit for 2023 reached RMB 994,601,000, a significant increase from RMB 464,368,000 in 2022, representing a growth of approximately 114%[30]. - Total revenue from other income and gains amounted to RMB 237,083,000 in 2023, compared to RMB 127,546,000 in 2022, marking an increase of about 86%[24]. - The total tax expense for the year was RMB 161,969,000, up from RMB 88,943,000 in 2022, representing an increase of about 82%[29]. - The gross profit for the year ended December 31, 2023, was RMB 5,204.99 million, a 22.34% increase from RMB 4,254.42 million in 2022[44]. - Net profit attributable to the owners of the parent company for the year ended December 31, 2023, was RMB 838.17 million, a 119.17% increase from RMB 382.43 million in 2022[50]. Revenue Breakdown - All revenue was generated from the sale of clothing and accessories in mainland China, with no significant revenue from other regions[22]. - Direct retail sales accounted for approximately 80.43% of total revenue in 2023, up from 78.33% in 2022[42]. - E-commerce revenue for the year ended December 31, 2023, was RMB 968.78 million, an increase of 8.46% from RMB 893.23 million in 2022[42]. - The two main brands, Koradior and NAERSI, generated sales revenue exceeding RMB 3.85 billion, ranking among the top ten brands in the Chinese industry[57]. - Revenue from distributor-operated retail stores reached RMB 383.90 million, up 14.86% year-over-year, due to increased order confidence from distributors[64]. - The revenue from the East China region was RMB 1,943.67 million, accounting for 32.70% of total revenue, while the Southwest region contributed RMB 1,050.69 million (17.68%)[67]. Expenses and Costs - The cost of goods sold for the year was RMB 1,707,313,000, up from RMB 1,409,010,000 in 2022, reflecting a rise of approximately 21%[26]. - Operating expenses for the year ended December 31, 2023, were RMB 3,778.11 million, an increase of 16.78% from RMB 3,235.18 million in 2022[46]. - Research and development expenses for 2023 totaled RMB 183,134,000, compared to RMB 169,497,000 in 2022, indicating an increase of about 8%[26]. - The company's brand and marketing expenses (excluding promotional expenses) for the year ended December 31, 2023, amounted to RMB 198.42 million, representing 2.87% of total revenue, an increase of RMB 27.59 million or 16.15% compared to RMB 170.83 million in 2022[74]. - Total salary and benefits expenses for the year ended December 31, 2023, were RMB 1,413.73 million, accounting for 20.45% of total revenue, up from RMB 1,178.29 million (20.81% of total revenue) in 2022, reflecting an increase of RMB 235.44 million or 19.98%[76]. Assets and Liabilities - Total non-current assets as of December 31, 2023, were RMB 3,480.14 million, down from RMB 3,623.13 million in 2022[7]. - Current assets totaled RMB 3,549.66 million as of December 31, 2023, compared to RMB 2,634.55 million in 2022[7]. - Total liabilities as of December 31, 2023, were RMB 1,989.27 million, an increase from RMB 1,648.88 million in 2022[7]. - The total equity attributable to owners of the parent as of December 31, 2023, was RMB 4,561.42 million, compared to RMB 3,987.50 million in 2022[9]. Corporate Governance - The company is committed to maintaining high corporate governance standards and has adhered to relevant codes, although the roles of Chairman and CEO are currently held by the same individual[87]. - The company has adopted a standard code for securities trading by directors and confirmed compliance by all directors for the year ending December 31, 2023[88]. - The audit committee, established on June 6, 2014, consists of three independent non-executive directors, chaired by Mr. Zhang Guodong[89]. - The audit committee reviewed the group's annual performance for the year ended December 31, 2023[89]. Future Outlook - The company aims to achieve retail revenue targets of RMB 10.5 billion to RMB 11.5 billion in 2024, driven by a strategy of multi-brand and multi-category expansion[78]. - The company plans to focus on the growth of seven high-end brands in 2024, including Koradior and NEXY.CO, while also stabilizing the development of the mid-range brand FUUNNY FEELLN[79]. - The company will deepen its product development capabilities by leveraging digital infrastructure and big data support to enhance product vitality and structure in 2024[81]. - The company will continue to implement a long-term strategy focused on "multi-brand, multi-category, omni-channel, and platformization" to refine its business operations[78]. - The external economic environment in China is expected to show significant recovery in 2023, with GDP growth targets set at around 5% or more for major provinces in 2024[77].
赢家时尚(03709) - 2023 - 年度业绩