YLYT(002878)2024-04-18 13:36Economic Performance - In 2023, China's total retail sales of consumer goods reached CNY 47.15 trillion, a year-on-year increase of 7.2%, with online retail sales of physical goods growing by 8.4% to CNY 13.02 trillion[3]. - The internet advertising and marketing market in China reached approximately CNY 124.82 billion in 2023, reflecting a year-on-year growth of 11.07%[3]. - The new media marketing sector saw a significant increase, with short video platform advertising revenue growing by 23.28% year-on-year, reaching CNY 105.84 billion, accounting for over 54% of the internet advertising market[9]. Company Positioning and Strategy - The company is positioned as a leader in the gift and promotional products industry, which is valued at over CNY 1 trillion, and has been continuously innovating since its establishment in 1998[8]. - The company aims to redefine the gift and promotional products sector, integrating them as a key medium in comprehensive marketing strategies[8]. - The company is leveraging AI and metaverse technologies to enhance efficiency and improve marketing effectiveness across its service offerings[9]. - The company is focused on expanding its market presence through strategic partnerships and innovative marketing solutions[15]. Revenue and Financial Performance - The company generated revenue of approximately ¥1.42 billion from promotional gifts, representing a year-over-year increase of 13.12%[28]. - New media marketing services revenue reached approximately ¥989 million, reflecting a growth of 16.43% compared to the previous year[28]. - The total revenue for the year reached 6,887 million, with a net profit of 808 million, reflecting a year-on-year growth of 36.49%[129]. IP and Product Development - The company has signed contracts with multiple well-known IPs, including Universal Pictures and NBA, enhancing its IP resource pool[20]. - The company has developed a comprehensive IP operation system, integrating design, digital content creation, and e-commerce sales[20]. - The company is actively involved in the development of cultural and creative products, including sports and digital IP products, forming a complete industrial chain from design to sales[12]. Marketing and Consumer Engagement - The "full-case marketing" segment includes services such as gift products, digital marketing, and new media advertising, catering to various industries[10]. - The company emphasizes the importance of integrating marketing channels and enhancing consumer engagement through innovative product offerings and marketing strategies[6]. - The company aims to become a leader in the "big IP cultural and creative" industry by integrating B2B and B2C channels[15]. Operational Efficiency and Supply Chain - The supply chain management capability supports an annual delivery capacity of over 200 million products, with more than 1,000 signed suppliers[23]. - The company has received over 50 design awards, including the Red Dot Award and iF Design Award, showcasing its strong creative design capabilities[19]. - The company’s digital marketing services leverage AI and metaverse technologies, enhancing efficiency and customer engagement[26]. Financial Management and Governance - The company has established independent financial management systems and does not share bank accounts with its controlling shareholders[125]. - The board of directors held 12 meetings during the reporting period, reviewing 65 proposals, ensuring effective governance[121]. - The supervisory board convened 10 meetings, reviewing 34 proposals, maintaining oversight of financial and operational compliance[122]. Employee Management and Development - The total number of employees at the end of the reporting period is 829, with 443 from the parent company and 386 from major subsidiaries[180]. - The company has implemented a "successor plan" for talent development, ensuring sufficient talent reserves for each position[168]. - The company has received the "Talent Development Excellence Award" for four consecutive years, enhancing its employer brand image[195]. Risk Management and Future Outlook - The company faces risks from global political and economic uncertainties, which may lead downstream customers to adopt conservative strategies, potentially impacting business demand[115]. - The company is actively tracking external economic conditions and adjusting its business direction, product, and customer structure to mitigate risks[115]. - Future guidance suggests a projected revenue growth of 15% for the next fiscal year, driven by strategic initiatives and market expansion efforts[132].