SAINT ANGELO(002154)2024-04-11 16:00Financial Performance - The total assets of Baoxiniao Holding Co., Ltd. reached approximately CNY 7.06 billion at the end of 2023, representing a 17.77% increase compared to CNY 5.99 billion at the end of 2022[27]. - The net assets attributable to shareholders of the listed company were approximately CNY 4.34 billion at the end of 2023, an increase of 10.33% from CNY 3.93 billion at the end of 2022[27]. - The weighted average return on net assets was 16.96% for 2023, up from 11.22% in 2022[27]. - The company's operating revenue for 2023 was CNY 5,253,625,184.72, representing a 21.82% increase from CNY 4,312,763,563.85 in 2022[57]. - The net profit attributable to shareholders for 2023 was CNY 697,852,097.89, a 52.11% increase compared to CNY 458,774,115.04 in 2022[57]. - The net profit after deducting non-recurring gains and losses was CNY 604,869,365.50, up 61.61% from CNY 374,267,876.51 in 2022[57]. - The net cash flow from operating activities reached CNY 1,153,641,350.32, marking a significant increase of 123.87% from CNY 515,309,797.86 in 2022[57]. - Basic earnings per share for 2023 were CNY 0.48, a 54.84% increase from CNY 0.31 in 2022[57]. - The company reported a total comprehensive income of 321,865,019.00 yuan for the period[134]. - The company reported a comprehensive income total of 766,150,528.79 yuan for the year[144]. Business Operations - There were no changes in the company's main business since its listing[24]. - The company has not disclosed any major differences in financial indicators compared to previously published quarterly and semi-annual reports[14]. - The company has maintained its commitment to transparency and accuracy in financial reporting, as stated by its management[35]. - The company has established a multi-brand strategy, with the mature brand Baoxini achieving over 1 billion in revenue, marking it as the third brand to surpass this threshold[94]. - The company has developed a personalized custom clothing service, leveraging over 20 years of experience and a database of consumer measurements to meet individual fashion needs[94]. - The company has implemented a flat "brand + platform" operational structure to enhance management efficiency and collaboration among brands[94]. - The company has formed a comprehensive marketing network covering 32 provinces, with approximately 1,761 retail outlets across various channels[94]. - The company is recognized as a national model enterprise for intelligent manufacturing, leading the digital transformation in the apparel industry[94]. - The company primarily engages in the production and sales of clothing, shoes, and leather products, as well as industrial investment[173]. Market Expansion and Strategy - Future outlook includes potential market expansion and new product development strategies, although detailed projections were not specified[17]. - The company is actively expanding its market presence and enhancing product development strategies, although specific details on new products and technologies were not disclosed in the provided content[49]. - The company plans to continue expanding its online sales channels through platforms like Tmall, JD.com, and live streaming[137]. - The company’s marketing strategy includes strengthening collaborations with KOLs on social media for brand promotion[136]. - The company plans to enhance its brand image and market presence through various marketing strategies, including collaborations with celebrities and influencers[163][168]. Investments and Financial Activities - The company invested 3 million yuan to acquire a 14.9580% stake in a private equity fund focused on the integrated circuit sector, with the fund's duration until April 15, 2029[68]. - The company also invested 3 million yuan to acquire a 9.9967% stake in a private equity fund targeting the new materials industry, with the fund's duration until September 14, 2029[70]. - The cash inflow from investment activities decreased to ¥1,265,211,314.18 in 2023, down from ¥1,518,264,623.01 in 2022, resulting in a net cash flow from investment activities of -¥221,247,824.11[99]. - The company reported a total investment income of ¥115,563,794.17 in 2023, a decrease from ¥644,448,040.40 in 2022, indicating a shift in investment performance[124]. Shareholder and Equity Information - The company’s major shareholder structure has seen significant changes, with the current major shareholder holding 38.09% of the total shares[43]. - The total number of shares before the change was 1,459,333,729, with 25.81% being restricted shares and 74.19% being unrestricted shares[74]. - The number of restricted shares decreased by 94,255,224, resulting in a new total of 282,417,541 restricted shares, which is 19.35% of the total[74]. - The number of unrestricted shares increased by 94,255,224, leading to a new total of 1,176,916,188 unrestricted shares, which is 80.65% of the total[74]. - The total equity attributable to shareholders of the parent company was 1,459,333,720.00 yuan at the end of the reporting period[134]. - The total equity at the end of the year was 3,415,827,418.35 yuan, reflecting the company's financial stability[145]. Risks and Compliance - The company has outlined major risks and corresponding countermeasures in its report, emphasizing the importance of investor awareness[49]. - There were no discrepancies between net profit and net assets reported under international accounting standards and Chinese accounting standards during the reporting period[46]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, reflecting the company's financial position and operating results as of December 31, 2023[200]. - The company’s financial reporting complies with the relevant regulations set forth by the China Securities Regulatory Commission[198]. Research and Development - R&D expenses increased to ¥58,037,031.15 in 2023 from ¥54,565,825.08 in 2022, indicating a focus on product innovation[124]. - The company has 25 utility model patents in the field of suits and has launched innovative products such as the "single-layer double-sided jacket" and "light formal sports suit"[105]. - The company is actively promoting a smart manufacturing project in Hefei, which aims to provide capacity support for the Baoniao business[106]. Store and Sales Performance - The company opened 123 new direct stores and closed 76 during the reporting period, resulting in a total of 793 direct stores[103]. - The average sales per direct store over the past 12 months was approximately ¥2.71 million, with a sales efficiency of ¥22,800 per square meter[103]. - The total number of stores increased from 1,684 in 2022 to 1,761 in 2023, representing a net increase of 77 stores or approximately 4.58%[140]. - The total operating area expanded from 24.98 million square meters in 2022 to 26.28 million square meters in 2023, an increase of 1.3 million square meters or about 5.2%[140]. - The company achieved operating revenue of 525,362.52 million yuan, an increase of 21.82% compared to the same period last year[160]. - The Hazzys brand generated operating revenue of 1.758 billion yuan, a growth of 24.12% year-on-year, with significant expansion in product lines and channels[163].