Financial Performance - Revenue for the year ended 28 February 2021 was RMB 594.2 million, a decrease of 19.3% compared to RMB 736.4 million for the year ended 29 February 2020[10] - Consolidated profit attributable to owners of the company was RMB 106.2 million, down from a profit of RMB 30.5 million in the previous year[10] - Basic earnings per share decreased to RMB 15.04 cents, a decline of RMB 4.32 cents compared to the previous year[10] - Gross profit fell by 22.2% to RMB 355.3 million, with a gross profit margin of 59.8%, a decrease of 2.2 percentage points compared to the prior year[85] - The Group's total revenue for the financial year 2020/21 decreased by 19.3% year-on-year to RMB594,200,000, down from RMB736,400,000 in 2019/20[77] - The profit attributable to owners of the Company for the year amounted to RMB106,200,000, a significant recovery from a loss of RMB30,500,000 in the previous year[70] Cash and Equity - Total equity increased to RMB 1,007.9 million, reflecting a growth of 4.8% from RMB 961.7 million[10] - Net cash balances rose significantly to RMB 754.9 million, an increase of 48.4% from RMB 508.6 million[10] - Net cash per share increased to RMB 1.07, representing a 48.6% rise from RMB 0.72[10] - Cash and bank balances increased by 48.4% year-on-year to RMB 754,900,000, with a quick ratio of 7.2 times[108] Operational Efficiency - Stock turnover days improved to 317 days, down from 369 days[10] - Quick ratio increased to 7.2 times, compared to 5.4 times in the previous year[10] - Selling and distribution expenses were reduced by 28.5% year-on-year to RMB 239.8 million, improving the ratio of these expenses to total revenue by 5.1 percentage points to 40.4%[86] - General and administrative expenses decreased by 3.9% to RMB 147.3 million, despite a one-off employee compensation expense of approximately RMB 37.4 million due to factory closure[91] - The Group's operational efficiency has significantly improved due to the integration and optimization of its physical store network and operational structure[63] Impact of COVID-19 - The financial year ended on February 28, 2021, was significantly impacted by the COVID-19 pandemic, leading to a recession in the global economy[56] - The Group implemented strategic adjustments, including ceasing production in its Shunde factory and shifting to external procurement, to mitigate the pandemic's impact[57] - The Group maintained its market share in the mid-to-high-end women's footwear segment through effective marketing strategies as economic activities began to recover in China[57] Product and Market Strategy - The company is focused on expanding its retail business and enhancing product offerings to drive future growth[10] - The Group has actively expanded e-commerce channels to social platforms to attract a younger customer base, launching the le saunda Y collection featuring trendy styles[62] - The Group plans to open new physical stores in various locations as the domestic economy recovers and consumption-stimulating measures are anticipated[63] - The Group's strategy includes focusing on product quality and leveraging its market knowledge to provide fashionable products to a diverse customer base[71] - The Group is focusing on enhancing customer engagement through a balanced development of online and offline channels[136] Corporate Social Responsibility - The Group was recognized as a "Top 100 Guangdong E-commerce Enterprises" at the 2021 New Year Meeting, highlighting its social influence and growth potential[43] - The Group was awarded the "15 Years Plus Caring Company Logo" for its commitment to corporate social responsibility through charity and environmental activities[43] - The Group continued to participate in the "No Fakes Pledge" Scheme, ensuring the sale of genuine goods and protecting intellectual property rights[46] - Le Saunda was recognized as a "Happy Company" for the fifth consecutive year, reflecting its commitment to employee satisfaction and a positive work environment[50] Dividends - The final dividend declared was HK 15.0 per ordinary share and a special dividend of HK 35.0 per ordinary share, marking a return to dividend payments after the previous year had none[97] - The board has recommended a final dividend of HK 15.0 cents and a final special dividend of HK 35.0 cents per ordinary share for the year ended February 28, 2021[172] - The interim special dividend declared for the six months ended August 31, 2020, was HK 5.0 cents per ordinary share[173] Workforce and Management - The total employee benefit expenses for the twelve months ended February 28, 2021, amounted to RMB 196,700,000, a decrease from RMB 247,500,000 in the previous year[174] - The group had a workforce of 1,403 employees as of February 28, 2021, down from 2,394 employees a year earlier[174] - The company emphasizes leadership and management strategies through its board structure, which includes various committees for remuneration and nominations[187] - The independent non-executive directors bring a wealth of knowledge from various industries, which can facilitate strategic partnerships and market opportunities[199]
莱尔斯丹(00738) - 2021 - 年度财报