Sales Performance - Besunyen Holdings has sold over 5.02 billion bags of its two main tea products, generating cumulative sales exceeding RMB 6.56 billion by the end of 2019[3]. - The company's revenue for 2019 was RMB 812.2 million, an increase of 114.6% compared to RMB 378.4 million in 2018[15]. - Gross profit rose from RMB 255.3 million in 2018 to RMB 584.5 million in 2019, representing an increase of 128.9%[15]. - The revenue from weight loss products surged by 384.3% to RMB 324.5 million, driven by increased promotion on e-commerce platforms[57]. - In 2019, the e-commerce sales increased by 185% compared to 2018, following a 75% growth from 2017 to 2018[28]. - During the Double 11 shopping festival, the company achieved sales of RMB 62.99 million, and over RMB 20 million during Double 12[31]. - Monthly sales on JD and Pinduoduo platforms exceeded RMB 10 million each in the second half of 2019[32]. Market Share - The market share for Besunyen's Changrun Tea is 14.85%, while Changqing Tea holds a market share of 26.22%, maintaining a leading position in the functional health tea market[4]. - In 2019, Besunyen's Orlistat products captured a combined market share of 34.34% on Alibaba's e-commerce platforms, ranking first in the segment[4]. - The market share of Bi Sheng Yuan's 常菁茶 in the weight loss product segment was 26.22% in 2019, a decrease of 6.97 percentage points year-on-year[16]. - The market share of Bi Sheng Yuan's 常潤茶 in the intestinal health product segment was 14.85% in 2019, an increase of 1.03 percentage points year-on-year[16]. - The combined market share of Bi Sheng Yuan's 奥利司他 and 来利牌奥利司他 in the e-commerce platform was 34.34% in 2019, ranking first[16]. Research and Development - The company has strengthened its R&D team and increased investment in new product development and introduction in 2019[14]. - The Orlistat production and R&D base in Guangdong has been recognized as a national intellectual property advantage enterprise[6]. - The company has successfully developed and launched new health food products, with 12 products currently under independent research and development[40]. - The company is actively participating in a key research and development program aimed at modernizing traditional Chinese medicine, focusing on powder and paste formulations[40]. - In 2019, the company completed the filing of 3 types of raw materials and conducted supplementary research on 4 drugs, with 11 new invention patents filed and 9 national invention patents granted[43]. Marketing Strategy - The company has shifted its marketing strategy towards innovative models, enhancing brand exposure and targeting younger consumers[17]. - The brand's marketing strategy included collaborations with media for targeted advertising, significantly increasing brand exposure among family demographics[23]. - The company initiated a brand upgrade campaign, focusing on content marketing and social media engagement to attract younger consumers[36]. - The company emphasizes brand rejuvenation, targeting younger consumers with products like meal replacement shakes and collagen jelly[116]. Financial Performance - The total operating expenses for 2019 were RMB 605.1 million, up 58.1% from RMB 382.8 million in 2018[15]. - The company reported a net profit of RMB 188.2 million for 2019, compared to a loss of RMB 93.5 million in 2018[56]. - Other income for 2019 included RMB 2.0 million in interest income and RMB 6.5 million in government subsidies[61]. - Administrative expenses decreased by 4.1% to RMB 107.8 million, primarily due to reduced depreciation related to property sales[66]. - Research and development costs increased by 101.7% from RMB 23.5 million in 2018 to RMB 47.4 million in 2019, representing 5.8% of total revenue[68]. Employee Development - As of December 31, 2019, the company had 1,187 employees, an increase from 1,121 employees in 2018[100]. - Employee costs for the year amounted to RMB 156.2 million, down from RMB 161.7 million in 2018, reflecting a decrease of approximately 3.1%[100]. - Continuous education and training programs are provided to employees to enhance their knowledge and skills[100]. - The company emphasizes the recruitment, motivation, and retention of suitable talent to enhance long-term development[100]. Environmental Responsibility - The company emphasizes the importance of building a resource-saving, environmentally friendly, and green enterprise as a key strategic goal for sustainable development[118]. - The company has made significant investments in upgrading equipment and optimizing management measures to reduce emissions of pollutants and greenhouse gases[129]. - The group implemented various environmental measures, resulting in a decrease in natural gas, industrial waste gas, sulfur dioxide, and nitrogen oxides emissions compared to 2018[132]. - The company encourages employees to participate in environmental protection activities, such as tree planting, to foster a culture of ecological responsibility[118]. Corporate Governance - The company has committed to corporate governance principles to protect shareholder interests and enhance corporate value and accountability[182]. - The board of directors consists of six members, including two executive directors and three independent non-executive directors, ensuring a diverse governance structure[185]. - The audit committee reviewed the consolidated financial statements for the year ended December 31, 2019, and discussed the accounting standards adopted by the group[192]. - The company has adopted a board diversity policy aimed at enhancing performance quality through diverse member selection based on various criteria including gender, age, cultural background, and professional experience[200].
碧生源(00926) - 2019 - 年度财报