Financial Performance - Revenue increased by 21.0% to RMB 8.42 billion, with e-commerce revenue rising by 38.0% to RMB 2.33 billion[12]. - Profit attributable to equity holders grew by RMB 961.4 million, with basic earnings per share reaching 46.5 cents[15]. - Gross profit margin improved to 41.1%, up from 40.5% in the previous year[15]. - Operating profit margin increased to 16.4%, compared to 15.4% in the prior year[15]. - For the fiscal year ending December 31, 2023, the company's revenue reached RMB 8.4 billion, representing a year-on-year growth of 21.0%[19]. - The profit attributable to equity holders was RMB 961.4 million, reflecting a year-on-year increase of 28.7%[19]. - The proposed final dividend per ordinary share is HKD 0.139, equivalent to RMB 0.127, with a total dividend payout ratio of 40.2%[19]. Assets and Liabilities - Non-current assets amounted to RMB 1,447.9 million, an increase from RMB 1,152.1 million in 2022[17]. - Current assets increased to RMB 11,617.3 million from RMB 11,283.8 million in the previous year[17]. - The debt ratio decreased to 2.2% from 2.4% in 2022, indicating improved financial stability[17]. - The inventory turnover days were 93 days, slightly up from 91 days in 2022[17]. Market Presence and Brand Strategy - The number of retail outlets exceeded 9,000 globally, enhancing market influence[5]. - The company focuses on the 361º brand and 361º children's brand, emphasizing professional sports functionality[2]. - 361º has partnered with international basketball stars for brand endorsement, enhancing its market presence[8]. - The company aims to enhance brand professionalism and market position through sponsorship of major sports events, including the Hangzhou Asian Games[20]. - The brand's visibility and influence significantly increased due to high exposure during the Hangzhou Asian Games, leveraging digital technology and social media[21]. - The company continues to focus on the professional sports market, aligning its strategic direction with policy and consumer trends[20]. Product Development and Innovation - The company has introduced new products, including a professional carbon plate running shoe series[8]. - In 2023, the company expanded its product matrix in the running category, launching new shoe series including "Feiran 2.0," "Feiran 2.5," and "Feiran 3.0," significantly increasing the wearing rate of 361º running shoes in marathon events[22]. - The basketball brand influence surged, with the endorsement of international basketball star Nikola Jokic, enhancing brand visibility and contributing to the success of the "AG" series and "Zen 5" basketball shoes[22]. - The company launched several new products, including the "Flash Antelope Jump Rope Shoes 3.0" and "4.0," enhancing its product matrix with advanced technology[52]. - The introduction of upgraded jump rope equipment supports the national jump rope team, enhancing the brand's authority and professionalism in this category[25]. E-commerce and Sales Channels - In 2023, the company's online sales channels experienced sustained high growth, becoming a core driver of revenue expansion[26]. - E-commerce business generated revenue of RMB 2,325.5 million, representing about 27.6% of total revenue, with a year-on-year increase of 38.0%[62]. - During the "618" shopping festival, 361º e-commerce channels achieved a cumulative sales growth of approximately 43%[63]. - The "AG" series and "轨迹4.0" products achieved significant sales during the "Double Eleven" event, with a total of 370,000 pairs sold[63]. Corporate Social Responsibility and Sustainability - 361º has initiated a carbon capture concept, highlighting its commitment to environmental sustainability[8]. - The company emphasizes sustainability by integrating eco-friendly elements into its supply chain, reflecting a commitment to high-quality development[32]. - The group donated materials worth 10 million yuan to flood-affected areas and 10 million yuan in winter supplies to Gansu earthquake victims[69]. Employee and Governance - The group employed a total of 7,375 full-time employees in China as of December 31, 2023[103]. - The company has established a mandatory provident fund plan for employees in Hong Kong, requiring both employer and employee contributions of 5% of relevant income[147]. - The board consists of 4 executive directors and 3 independent non-executive directors, ensuring a diverse range of expertise[163]. - The company has implemented a governance policy that complies with legal and regulatory requirements, reviewed annually[161]. Future Outlook and Strategic Goals - The company aims to leverage the opportunities presented by the upcoming Olympic year in 2024 to enhance its brand image and product offerings[28]. - The group is optimistic about the development of the Chinese sports industry in 2024, driven by major international and domestic sports events, including the Paris Olympics[104]. - The company plans to continue investing in its e-commerce system and marketing efforts to drive further growth in online sales[73].
361度(01361) - 2023 - 年度财报