YKS(300209)2024-04-25 16:56Financial Performance - The company achieved operating revenue of 464 million RMB in 2023, a decrease of 40.01% compared to the previous year[4]. - The net profit attributable to the parent company was -485 million RMB, down 32.10% year-on-year[4]. - The company's operating revenue for 2023 was ¥464,415,199.38, a decrease of 40.01% compared to ¥774,137,256.72 in 2022[31]. - The net profit attributable to shareholders for 2023 was -¥484,505,255.82, representing a decline of 32.10% from -¥366,760,967.67 in 2022[31]. - The total operating revenue for 2023 was ¥464,415,199.38, representing a decrease of 40.01% compared to ¥774,137,256.72 in 2022[53]. - The company achieved a total revenue of 344.90 million yuan in 2023, reflecting a decrease of 45.56% compared to the previous year[46]. - E-commerce revenue accounted for ¥344,901,613.26, which is 74.27% of total revenue, down 45.56% from ¥633,571,001.65 in 2022[54]. - The company reported a total revenue of 500 million RMB for the fiscal year 2023, representing a year-over-year increase of 20%[143]. - The company reported a total revenue of 3,064.60 million CNY for the year 2023, reflecting a significant increase compared to the previous year[161]. Cash Flow and Assets - The cash flow from operating activities showed a net outflow of -¥66,864,860.42, which is an increase in outflow of 82.87% compared to -¥36,564,997.00 in 2022[31]. - The total assets at the end of 2023 were ¥350,363,915.77, down 56.91% from ¥813,111,046.29 at the end of 2022[31]. - The company has significant restricted cash of CNY 4,657,049.75 due to litigation and CNY 17,291,234.83 from third-party e-commerce platform restrictions[71]. - The net increase in cash and cash equivalents was -¥38,567,502.05, indicating a significant decline of 415.14% compared to the previous year[65]. - The company's cash and cash equivalents decreased from CNY 80,771,322.23 at the beginning of the year to CNY 40,817,259.33, an increase in proportion from 9.93% to 11.65% of total assets[70]. Business Operations and Strategy - The company is optimistic about the long-term development of the cross-border e-commerce industry despite current challenges[7]. - The company plans not to distribute cash dividends or issue bonus shares for the year[13]. - The company will continue to focus on its e-commerce business, particularly in cross-border e-commerce, aiming to improve operational capabilities and performance[85]. - The company has established a multi-channel sales system, actively engaging in both traditional platforms like Amazon and emerging platforms like Shopee[46]. - The company has implemented a dual warehouse model combining domestic and overseas warehouses to effectively mitigate operational risks[49]. - The company aims to improve operational efficiency by 5% through new management strategies implemented in 2024[110]. - The company is focusing on market expansion strategies, particularly in the technology sector, to enhance its competitive edge[118]. Risks and Challenges - There is a risk of bankruptcy reorganization as creditors have applied for the company's restructuring in court[8]. - The company has indicated uncertainty regarding its ability to continue as a going concern due to negative net profits in recent years[31]. - The company faces significant risks from global macroeconomic and political uncertainties, which could adversely affect its operational performance[86]. - The company is currently undergoing pre-restructuring due to a negative net asset value at the end of 2023, which poses a risk of stock delisting if certain conditions are met in 2024[88]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring proper operation and protection of shareholder rights[92]. - The company emphasizes social responsibility, maintaining communication with stakeholders to promote balanced and harmonious development[98]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate information is available to all investors[99]. - The company operates independently from its controlling shareholders in terms of business, personnel, assets, and finance, ensuring a complete and autonomous operational structure[102]. - The company has committed to ensuring compliance with tax obligations related to the restructuring and will facilitate the necessary filings with tax authorities[159]. Employee and Management - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 4.3489 million[119]. - The company emphasizes a performance-oriented compensation system, focusing on talent retention and cost efficiency[127]. - The company has a total of 441 employees receiving compensation, including 64 retired employees[126]. - The company has established a comprehensive and competitive compensation system based on job value and individual performance[127]. - Training programs have been enhanced for technical and sales positions to align with the company's strategic development goals[129]. Research and Development - The company is investing 10% of its annual revenue into R&D for new technologies and product development[110]. - The company is investing in new product development, with a budget allocation of CNY 10 million for R&D in the upcoming fiscal year[118]. - The company is investing 50 million RMB in R&D for new technologies aimed at improving service efficiency and user experience[143]. Market and User Growth - User data showed an increase in active users by 20% compared to the previous year, reaching a total of 30.46 million[110]. - User data showed an increase in active users, reaching 5 million, which is a 15% increase compared to the previous year[113]. - User data showed a growth in active users, reaching 10 million, which is a 15% increase compared to the previous year[153]. Legal and Regulatory Matters - The company is involved in a lawsuit with Shanghai Pudong Development Bank, claiming a total amount of RMB 189 million, which has been ruled in favor of the bank[177]. - The company received regulatory warnings for failing to disclose litigation matters in a timely manner, with a warning issued by the Shenzhen Stock Exchange on July 31, 2023[179]. - The company has not reported any major contracts or their execution status during the reporting period[189].