滔搏(06110) - 2021 - 年度财报

Financial Performance - Revenue for the year ended February 28, 2021, was RMB 36,009.0 million, an increase of 6.9% from RMB 33,690.2 million for the year ended February 29, 2020[8]. - Gross profit for the same period was RMB 14,681.1 million, representing a gross margin of 40.8%, down from 42.1% in the previous year[8]. - Operating profit increased to RMB 3,989.4 million, with an operating margin of 11.1%, up from 9.8% in the prior year[8]. - Profit attributable to equity holders of the company was RMB 2,770.1 million, a 20.2% increase from RMB 2,303.4 million in the previous year[8]. - Adjusted operating profit was RMB 3,992.3 million, compared to RMB 3,390.3 million in the previous year, reflecting a growth of 17.8%[9]. - Basic and diluted earnings per share were RMB 44.67, up from RMB 40.88 in the previous year[8]. - The gross profit margin for the year was 40.8%, down from 42.1% in the previous year, primarily due to increased sales discounts[30]. - Retail business revenue accounted for 85.3% of total revenue, amounting to RMB 30,733.3 million, with a growth of 5.4% from the previous year[27]. - Wholesale business revenue grew by 17.3% to RMB 4,954.0 million, representing 13.8% of total revenue[27]. - E-sports revenue surged by 168.1% to RMB 81.5 million, compared to RMB 30.4 million in the previous year[27]. Dividends and Shareholder Returns - The company declared a special dividend of RMB 40.00 per share, which was not applicable in the previous year[8]. - The company plans to distribute a total dividend of RMB 0.64 per share for the fiscal year, significantly up from RMB 0.19 per share in the previous year[14]. - The board declared an interim dividend of RMB 0.12 per share, totaling RMB 744.1 million, and a special dividend of RMB 0.40 per share, totaling RMB 2,480.5 million for the year ended February 28, 2021[46]. - The company paid dividends totaling RMB 3,658.7 million, compared to RMB 744.1 million in the previous year, indicating a substantial increase in shareholder returns[198]. Store Operations and Membership - Total number of direct-operated stores decreased to 8,006, but total sales area achieved growth[13]. - Membership count reached 40.9 million, indicating strong consumer engagement[14]. - The total sales area increased by 4.1% year-on-year, with stores larger than 300 square meters accounting for 9.4% of the total, up 2.1 percentage points from the previous year[16]. - The number of new stores opened in the fiscal year was 713, while 1,102 stores were closed, resulting in a net decrease of 389 stores[17]. - Cumulative registered members reached 40.9 million by February 28, 2021, with member contributions to in-store retail sales (including VAT) maintaining a high level of 95.3%[20]. Digital Transformation and Innovation - Digital transformation efforts are ongoing, focusing on enhancing business operations and consumer experience[13]. - The company plans to accelerate its digital transformation focusing on precision and efficiency, and enhance seamless interaction with consumers across various scenarios[22]. - The app "TaoBo Sports" reached a cumulative user base of 2.7 million by February 28, 2021, integrating content marketing, online shopping, and member services[19]. - The digital transformation efforts have improved operational efficiency, with nearly all directly operated stores covered by mobile tools for real-time adjustments and decision-making by the end of April 2021[21]. Financial Position and Cash Flow - The company maintained a current ratio of 1.9, indicating strong liquidity[7]. - The net cash generated from operations decreased from RMB 6,975.6 million for the year ended February 29, 2020, to RMB 5,655.5 million for the year ended February 28, 2021, a decline of RMB 1,320.1 million[39]. - The net cash used in investing activities was RMB 2,097.7 million for the year ended February 28, 2021, compared to a net cash used of RMB 4,296.8 million in 2020[39]. - The net cash used in financing activities was RMB 8,398.3 million for the year ended February 28, 2021, significantly higher than the net cash generated of RMB 275.8 million in 2020[39]. - As of February 28, 2021, the company held total bank deposits and cash of RMB 1,228.8 million, resulting in a net debt position of RMB 108.4 million after deducting short-term borrowings of RMB 1,337.2 million[39]. Employee and Corporate Governance - The company employed a total of 40,348 employees as of February 28, 2021, an increase from 35,773 employees in 2020[42]. - Total employee costs for the year ended February 28, 2021, were RMB 3,172.9 million, accounting for 8.8% of the company's revenue, down from 9.8% in 2020[42]. - The company has a strong management team with over 25 years of experience in the footwear industry, including key executives responsible for single-brand and multi-brand operations[82]. - The board held a total of six meetings during the fiscal year ending February 28, 2021[88]. - The attendance rate for the board meetings was 100% for all members, with the CEO attending all six meetings[87]. Environmental and Social Responsibility - The company is committed to reducing the environmental impact of its business activities and has complied with relevant laws and regulations[115]. - The group actively fulfills its environmental responsibilities, adhering to the Environmental Protection Law of the People's Republic of China[162]. - The group has not reported any environmental protection-related violations during the year[162]. - The group raised a total of 22,473 yuan through employee donations for building smart activity rooms in rural schools, benefiting local children[171]. - The group implemented a centralized vehicle maintenance and management system to reduce fuel consumption and improve operational efficiency[170]. Risk Management and Internal Controls - The company has established a robust risk management and internal control system to achieve strategic goals and protect shareholder investments[103]. - The board has conducted a comprehensive review of the risk management and internal control systems for the fiscal year ending February 28, 2021, covering all significant aspects including financial and operational controls[106]. - The internal audit department operates independently and identifies weaknesses in internal controls, providing recommendations for improvement[105].