Financial Performance - The company's revenue for the year ended December 31, 2023, was approximately RMB 500.5 million, a significant decrease of about 72.0% compared to RMB 1,790.3 million in 2022[16] - The loss attributable to the owners of the company for 2023 was approximately RMB 35.0 million, compared to a loss of RMB 25.6 million in 2022[16] - The gross profit for the year was RMB 37.4 million, down from RMB 52.4 million in 2022[17] - The overall loss before tax for the year was RMB 48,211 thousand, with segment losses of RMB 34,780 thousand attributed to jewelry and fresh food segments[27] - The company reported a net loss of RMB 7,281 thousand in 2023, compared to a net loss of RMB 2,389 thousand in 2022, indicating a worsening of approximately 205%[93] - The company reported a loss attributable to shareholders of approximately RMB 35.0 million for the year, an increase from RMB 25.6 million in 2022, mainly due to the underperformance of the fresh food retail business[157] Segment Performance - The jewelry new retail segment recorded a loss of approximately RMB 7.8 million in 2023, an improvement from a loss of RMB 9.1 million in 2022, despite an increase in sales volume[16] - The fresh food retail segment incurred a loss of approximately RMB 26.9 million in 2023, compared to a loss of RMB 18.1 million in 2022, primarily due to lower sales volume and reduced trading activity[16] - The fresh food retail segment reported a loss of RMB 26,943 thousand, indicating challenges in this area[27] - The sales of fresh food retail business amounted to RMB 90,074 thousand in 2023, a significant decrease from RMB 1,509,807 thousand in 2022, representing a decline of approximately 94%[88] - The fresh food retail business recorded revenue of RMB 90.1 million, representing only 18.0% of total revenue in 2023, a drastic decline from 84.3% in 2022[120] Assets and Liabilities - Total assets less current liabilities amounted to RMB 1,330.8 million as of December 31, 2023, compared to RMB 1,379.2 million in 2022[4] - The company's cash and bank balances were RMB 419.5 million at the end of 2023, down from RMB 475.2 million in 2022[4] - The total non-current assets decreased from RMB 40.2 million in 2022 to RMB 36.2 million in 2023[4] - The total liabilities for the group were RMB 256,311 thousand, with jewelry segment liabilities at RMB 171,254 thousand[38] - Non-current liabilities totaled RMB 3,504 thousand, with deferred tax liabilities and lease liabilities contributing RMB 1,355 thousand and RMB 2,149 thousand respectively[19] Operational Strategy - The company is focusing on optimizing its cooperative store network and adjusting business strategies in the fresh food retail segment[16] - The company plans to continue expanding its market presence and developing new products in the jewelry and fresh food sectors[26] - The company has shifted its strategy from store expansion to enhancing supply chain management, aiming to improve control over upstream price indices and quality systems[145] - The company has implemented a refined operational model to reduce losses and improve efficiency, including tiered management of existing stores and adjustments to marketing strategies[116] - The company has shifted its focus from rapid expansion in the pork market to developing more competitive categories such as beef and lamb, establishing new business lines like "Beef Master" and "Lamb Master"[116] Sales and Marketing - Online sales channels contributed RMB 358,471 thousand in 2023, up from RMB 248,731 thousand in 2022, indicating a growth of about 44%[67] - Online sales channels contributed RMB 358.5 million, accounting for 71.6% of total revenue in 2023, compared to only 13.9% in 2022[120] - The company has shifted its marketing strategy to include short video marketing and KOL collaborations as standard practices for brand promotion[113] - The company has partnered with major third-party platforms, including JD.com, Tmall, and Douyin, to enhance online sales operations and brand exposure[139] Corporate Governance - The board of directors consists of two executive directors and three independent non-executive directors, adhering to high standards of corporate governance[200] - The company has complied with the corporate governance code provisions, except for provision C.2.1, which states that the roles of chairman and CEO should be separate[200] Future Outlook - The company is optimistic about the future market, benefiting from the comprehensive reopening of consumption scenarios and the new business layout[146] - The company has identified significant growth potential in the cultivated diamond industry, which is still in its early stages in China, with expectations of increased consumer awareness in the coming years[109] - The company aims to diversify its business by entering the essential consumer goods sector, particularly in the fresh produce industry, to mitigate risks in the jewelry sector[108]
金猫银猫(01815) - 2023 - 年度业绩