滔搏(06110) - 2024 - 年度财报

Financial Performance - Revenue for the fiscal year ending February 29, 2024, was RMB 28,933.2 million, an increase of 6.9% from RMB 27,073.2 million in the previous year[4]. - Gross profit reached RMB 12,080.8 million, up from RMB 11,284.2 million, resulting in a gross margin of 41.8% compared to 41.7% last year[4]. - Operating profit increased to RMB 2,786.5 million, reflecting an operating margin of 9.6%, up from 9.0% in the prior year[4]. - Profit attributable to equity holders was RMB 2,213.0 million, representing a profit margin of 7.6%, compared to 6.8% in the previous year[4]. - The company reported a basic and diluted earnings per share of RMB 35.69, an increase from RMB 29.62[4]. - Net profit attributable to equity holders rose by 20.5% year-on-year to RMB 2,213.0 million, with a profit margin increase of 0.8 percentage points to 7.6%[21]. - Retail business revenue grew by 8.9% year-on-year to RMB 24,702.7 million, supported by a balanced development of online and offline sales[22]. - The gross profit margin improved to 41.8% for the year ending February 29, 2024, up from 41.7% in the previous year, driven by improved discount rates and a higher revenue share from retail operations[51]. Liquidity and Cash Flow - The company maintained a strong liquidity position with a current ratio of 3.2, up from 2.3 in the previous year[4]. - Cash generated from operating activities was RMB 3,129.0 million, 1.4 times the profit attributable to equity holders[14]. - Net cash generated from operating activities decreased to RMB 3,729.4 million for the year ended February 29, 2024, down from RMB 5,241.5 million in 2023[59]. - The company maintained a net cash position of RMB 1,362.0 million as of February 29, 2024, compared to RMB 2,098.4 million in 2023, with total cash and cash equivalents of RMB 2,082.1 million[62][60]. User Growth and Engagement - The company has over 70 million users, which is a core driver of growth, supported by an integrated online and offline retail strategy[10]. - The user base has grown from 10.2 million in August 2018 to over 70 million, reflecting continuous accumulation and development[34]. - Membership contribution to in-store retail sales (including VAT) was 93.4% for the fiscal year, maintaining a high and stable sales contribution[38]. - Single user value increased by a high single-digit percentage year-on-year despite fluctuations in the consumer environment[37]. - High-value members accounted for nearly 40% of total consumption contributions, despite only being a low single-digit percentage of total consuming members[37]. Store Operations and Strategy - The total number of stores operated as of February 29, 2024, was 6,144, representing a year-on-year decrease of 6.4%, while the gross sales area decreased by 0.8%[25]. - The total number of stores decreased by 421 during the fiscal year, with a net reduction of 1,130 stores in the previous fiscal year[29]. - The company has focused on enhancing store efficiency through structural upgrades and optimizing store types based on brand characteristics and consumer profiles[24]. - The number of store live broadcast accounts exceeded 100, with sales from live broadcasts increasing approximately fivefold year-on-year[30]. Sustainability and Corporate Responsibility - The company aims to become a promoter and leader in green consumption, aligning with the United Nations Sustainable Development Goals and national carbon neutrality targets[43]. - The group has established sustainability goals, with over 70% of brand partners setting carbon targets and over 50% committing to carbon neutrality[44]. - The company has integrated environmental elements into its membership reward system and launched initiatives like the "GREENBOX" public welfare IP to promote sustainable living[44]. - The company invested in a professional skiing equipment retailer, "Cold Mountain," to explore the potential of the ice and snow sports sector[39]. Governance and Management - The company has adopted the corporate governance code as its own governance framework, ensuring compliance with applicable principles and rules[155]. - The board consists of two executive directors, three non-executive directors, and three independent non-executive directors as of February 29, 2024[156]. - The board held a total of four meetings during the fiscal year ending February 29, 2024, in line with operational and business development needs[163]. - The company has established a risk management and internal control system to achieve strategic goals and protect shareholder investments[188]. - The company has established a robust anti-corruption management system, including a fraud management policy and employee training programs to promote a culture of integrity[193]. Dividends and Shareholder Returns - The company plans to distribute a total dividend of RMB 0.36 per share for the fiscal year, with a payout ratio of 100.9%[14]. - The board declared an interim dividend of RMB 0.16 per share, totaling RMB 992.2 million, to be paid on December 20, 2023[77]. - The board proposed a final dividend of RMB 0.05 per share and a special dividend of RMB 0.15 per share, totaling RMB 930.2 million[77]. - As of February 29, 2024, the company's distributable reserves amounted to RMB 20,494.4 million, an increase from RMB 19,736.9 million in 2023[83].