BIEM(002832)2024-04-26 14:11Financial Performance - The company's operating revenue for 2023 reached ¥3,536,132,714.02, representing a 22.58% increase compared to ¥2,884,841,760.82 in 2022[11]. - The net profit attributable to shareholders for 2023 was ¥867,457,631.43, a 29.36% increase from ¥670,578,894.32 in 2022[11]. - Basic earnings per share for 2023 were ¥1.60, up 37.53% from ¥1.28 in 2022[11]. - Total assets at the end of 2023 amounted to ¥6,727,642,887.64, reflecting a 20.59% increase from ¥5,578,885,921.48 at the end of 2022[11]. - The net assets attributable to shareholders increased to ¥4,896,650,107.72, an 18.56% rise from ¥4,130,033,512.93 in 2022[11]. - The company reported a cash flow from operating activities of ¥1,295,880,336.01 for 2023, a 37.53% increase compared to ¥942,236,033.82 in 2022[11]. - The company achieved total revenue of 3.536 billion yuan, a year-on-year increase of 22.58%[36]. - The net profit attributable to shareholders reached 911 million yuan, reflecting a growth of 25.17% compared to the previous year[36]. Dividend Distribution - The company plans to distribute a cash dividend of 10 RMB per 10 shares to all shareholders based on a total share capital of 570,707,084 shares as of December 31, 2023[2]. - The company distributed a cash dividend of 3 yuan per 10 shares, totaling 171,212,125.20 yuan, based on a total share capital of 570,707,084 shares as of December 31, 2022[155]. - The cash dividend accounted for 100% of the total distributable profit of 3,114,259,428.84 yuan[157]. Business Operations and Strategy - The company has not reported any changes in its main business operations since its listing[9]. - The company has no changes in its controlling shareholders since its establishment[9]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report[2]. - The company aims to enhance its brand positioning towards high-end and luxury markets, aligning with industry trends[17]. - The company is focused on developing high-elastic breathable composite fiber functional apparel to enhance product technology and meet consumer demands for comfort and performance[76]. - The company is entering a new decade in 2024, aiming to become a leader in the high-end apparel segment in China[103]. Market Trends and Growth - The company experienced a 7% growth in the luxury goods market in 2023, with a market size reaching ¥27,232 billion[17]. - The outdoor sports market saw a 79% increase in order volume in the first half of 2023 compared to the same period in 2022[17]. - The outdoor sports market in China is projected to reach a total scale of 3 trillion yuan by 2025, indicating significant growth potential[18]. - The domestic "Guochao" (national trend) apparel market grew from 407.1 billion yuan in 2017 to 992.8 billion yuan in 2023, with a compound annual growth rate of nearly 16%[18]. Acquisitions and Brand Development - The company completed the acquisition of the global trademark rights for the CERRUTI 1881 brand in April 2023, aiming to revitalize the brand with a focus on modern elegant tailoring[26]. - The company also acquired the global trademark rights for the KENT & CURWEN brand in April 2023, targeting the young market with a light luxury designer brand approach[26]. - A new Paris R&D center was established for CERRUTI 1881 and KENT & CURWEN, with Daniel Kearns appointed as Chief Creative Officer to oversee the brands' collections[27]. - The company completed the acquisition of 100% equity in Cerruti Investment Pte. Ltd. and Cerruti 1881 for a total investment of 57 million EUR and 38 million EUR respectively[192]. Retail Expansion - The company has opened 149 new stores in 2023, resulting in a net increase of 64 stores, bringing the total to 1,255 retail outlets, including 607 direct-operated and 648 franchised stores[34]. - The average sales per store was CNY 3,945,600, with a total retail area of 94,514 square meters across 607 direct-operated stores[50]. - The company has established a digital new retail strategy, actively engaging with e-commerce platforms to enhance customer experience through online and offline integration[34]. Research and Development - The company has a total of 190 patents, reflecting its strong commitment to innovation and product development[34]. - The company invested 124,112,802.90 CNY in R&D in 2023, representing a 23.89% increase from 100,182,947.69 CNY in 2022, with R&D expenses accounting for 3.51% of operating revenue[77]. - The company has 217 R&D personnel, an increase of 4.83% from 207 in 2022, with a notable rise in the number of master's degree holders from 6 to 10[77]. Corporate Governance - The company maintains complete operational independence from its controlling shareholder, with distinct business, personnel, asset, and financial structures[122]. - The company has established an independent financial department and a separate accounting system, ensuring autonomous financial decision-making[127]. - The company has a clear asset ownership structure, with no instances of asset misappropriation by the controlling shareholder[125]. - The company has implemented a robust internal control system in accordance with legal requirements, enhancing governance practices[121]. Social Responsibility - The company donated 20 million yuan worth of winter supplies to the earthquake-affected areas in Gansu, demonstrating its commitment to social responsibility[174]. - The company has not reported any significant environmental issues or administrative penalties related to environmental problems during the reporting period[169]. Employee Management - The total number of employees at the end of the reporting period was 3,672, including 581 at the parent company and 3,091 at major subsidiaries[151]. - The company emphasizes a performance-oriented salary policy, with a flexible structure based on job value and company performance[152]. - The company has implemented various training programs, including a national new product tour training and an E-learning platform to enhance employee skills[153]. Risks and Challenges - The company faces risks related to outsourcing production, network expansion management, and high inventory levels, with specific measures in place to mitigate these risks[110][111][112].