Marubi(SH:603983)2025-04-25 12:20Financial Performance - The company's operating revenue for 2024 reached approximately CNY 2.97 billion, representing a year-on-year increase of 33.44% compared to CNY 2.23 billion in 2023[22]. - The net profit attributable to shareholders for 2024 was approximately CNY 341.63 million, up 31.69% from CNY 259.42 million in 2023[22]. - Basic earnings per share for 2024 increased to CNY 0.85, a growth of 30.77% from CNY 0.65 in 2023[24]. - The total assets of the company as of the end of 2024 were approximately CNY 5.06 billion, reflecting a 13.67% increase from CNY 4.45 billion at the end of 2023[23]. - The weighted average return on equity for 2024 was 10.08%, an increase of 2.14 percentage points compared to 7.94% in 2023[24]. - The net cash flow from operating activities for 2024 was approximately CNY 300.53 million, a decrease of 11.09% from CNY 338.02 million in 2023[23]. - The net profit after deducting non-recurring gains and losses for 2024 was approximately CNY 326.58 million, a significant increase of 73.86% from CNY 187.83 million in 2023[22]. Revenue Breakdown - The main brand, Marubi, generated operating revenue of 2.055 billion RMB, accounting for 69.24% of total revenue, with a year-on-year growth of 31.69%[33]. - The PL brand achieved operating revenue of 905 million RMB, representing 30.51% of total revenue, with a year-on-year increase of 40.72%[33]. - The online revenue for the company reached 2.541 billion yuan, accounting for 85.61% of total revenue, with a year-on-year growth of 35.77%[44]. - The offline revenue reached 427 million yuan, representing 14.39% of total revenue, with a year-on-year growth of 20.79%[44]. Product Performance - The company's gross profit margin was 73.7%, up by 3.01 percentage points year-on-year, attributed to optimized product structure and cost control[34]. - The flagship product, the peptide eye cream, achieved online GMV sales of 533 million yuan, a 146% increase year-on-year[39]. - The collagen small gold needle essence achieved online GMV sales of 350 million yuan, a 96% increase year-on-year[39]. - The eye care product category saw revenue of ¥689,292,209.38, with a gross margin of 75.01%, up 2.72 percentage points compared to the previous year[59]. - The skincare product category generated ¥1,125,059,762.22 in revenue, with a gross margin of 74.92%, showing a year-on-year increase of 1.45 percentage points[59]. Research and Development - Research and development expenses were 73.54 million RMB, reflecting an 18.07% year-on-year increase, indicating continued investment in R&D[34]. - The company applied for 86 new domestic and international patents, with a total of 596 patents filed by the end of the reporting period[38]. - The number of R&D personnel is 94, accounting for 8% of the total workforce[68]. Market Strategy - The company has maintained a consistent growth of approximately 30% in both revenue and profit for eight consecutive quarters[35]. - The company is focusing on key technologies and industrial applications, particularly in recombinant collagen technology, to enhance its competitive edge in the cosmetics market[35]. - The marketing strategy is centered on a dual-core approach of "brand power + product power," optimizing the marketing matrix and enhancing business collaboration[101]. Corporate Governance - The governance structure is compliant with relevant laws and regulations, ensuring clear responsibilities and decision-making processes[109]. - The company held one annual and one temporary shareholders' meeting during the reporting period, with all resolutions passed legally and effectively[110]. - The company maintains independence from its controlling shareholders, ensuring autonomous operations and decision-making[113]. - The company has a diverse board with members holding various academic and professional backgrounds, enhancing its governance[117]. Environmental and Social Responsibility - The company invested approximately ¥2.92 million in environmental protection during the reporting period[149]. - The company reduced carbon emissions by 664.63 tons through various measures, including the use of clean energy and digital energy management[153]. - The company has been recognized as a "provincial-level green factory" in Guangdong and has received carbon neutrality certification for three products[152]. Shareholder and Dividend Information - The company implemented a cash dividend policy, distributing a total of 208,520,000.00 RMB in cash dividends for the 2023 fiscal year, which represents 80.38% of the net profit attributable to the parent company's shareholders[139]. - For the first three quarters of 2024, the company plans to distribute 100,250,000.00 RMB in cash dividends, accounting for 41.98% of the net profit attributable to the parent company's shareholders during that period[139]. Risks and Challenges - The company faces increasing market competition due to the rapid growth of e-commerce and rising costs, alongside intensified competition from both domestic and foreign brands[103]. - There is a risk of strategic execution not meeting expectations, despite efforts to enhance product innovation and brand building[104]. - The company is actively working to retain talent through effective compensation and incentive policies, but still faces the risk of talent loss[105].