BUSEN(002569)2024-08-29 13:17Financial Performance - The company's operating revenue for 2020 was approximately ¥254.71 million, a decrease of 29.07% compared to ¥359.12 million in 2019[6]. - The net profit attributable to shareholders for 2020 was approximately -¥153.44 million, representing a decline of 746.28% from a profit of ¥23.74 million in 2019[6]. - The total assets at the end of 2020 were approximately ¥390.64 million, down 36.61% from ¥616.30 million at the end of 2019[6]. - The net cash flow from operating activities for 2020 was approximately -¥12.44 million, a slight increase in loss of 4.92% compared to -¥11.85 million in 2019[6]. - The weighted average return on equity for 2020 was -59.08%, a decrease of 73.04% from 13.96% in 2019[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -8,532,502.39 CNY, compared to -41,589,314.64 CNY in the previous year[8]. - The net cash flow from operating activities was -28,108,513.83 CNY, a significant decrease from 22,750,238.46 CNY in the previous year[8]. Revenue Breakdown - The revenue from shirts was 37,695,328.40 CNY, down 32.25% year-on-year, with a gross profit margin of 29.23%[9]. - The revenue from trousers was 47,514,268.30 CNY, down 22.99% year-on-year, with a gross profit margin of 16.58%[9]. - The revenue from suits was 54,255,168.71 CNY, down 38.11% year-on-year, with a gross profit margin of 19.00%[9]. - The revenue from outerwear was 44,951,004.38 CNY, down 45.78% year-on-year, with a gross profit margin of 12.02%[9]. - The revenue from knitted garments was 38,107,944.66 CNY, down 7.08% year-on-year, with a gross profit margin of 24.64%[9]. Company Structure and Operations - The company had a total of 286 stores at the end of the reporting period, including 48 direct-operated stores, 8 joint-operated stores, and 230 franchised stores[5]. - The company established four new subsidiaries during the reporting period, including Hangzhou Shiken Clothing Co., Ltd. with a registered capital of 10 million CNY[10]. - The total number of ordinary shareholders at the end of the reporting period was 4,469, a decrease from 4,889 at the end of the previous month[8]. Strategic Focus - The company is focusing on enhancing its brand, marketing network, product design, and supply chain management to provide high-quality and fashionable men's clothing[5]. - The company is exploring e-commerce development and has established partnerships with major third-party e-commerce platforms to create a dual-channel sales model[5]. - The company aims to leverage online and offline synergies to enhance overall competitiveness in the market[5]. Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[2]. Accounting Changes - The company implemented the revised revenue recognition standards from January 1, 2020, affecting the financial statements without retrospective adjustments for prior periods[10].