Rebecca(SH:600439)2025-04-28 16:40Financial Performance - The company's operating revenue for 2024 was CNY 1,239,041,362.91, representing a 1.10% increase compared to CNY 1,225,563,193.88 in 2023[21]. - The net profit attributable to shareholders for 2024 was a loss of CNY 117,619,169.86, a significant decline from a profit of CNY 12,302,269.67 in 2023[21]. - The net cash flow from operating activities for 2024 was CNY 250,749,049.30, showing a 1.57% increase from CNY 246,866,998.08 in 2023[21]. - The total net assets attributable to shareholders decreased by 4.72% to CNY 2,622,599,535.50 at the end of 2024, down from CNY 2,752,445,364.63 at the end of 2023[21]. - Basic earnings per share for 2024 is -0.10 CNY, a decrease of 1,100% compared to 0.01 CNY in 2023[23]. - The weighted average return on equity decreased to -4.37% in 2024 from 0.43% in 2023, a decline of 4.80 percentage points[23]. - The company reported a significant decline in net profit, with a loss of CNY 121,119,079.27 after deducting non-recurring gains and losses for 2024[21]. - The company achieved operating revenue of ¥1,239,041,362.91, a year-on-year increase of 1.1%, but reported a net profit attributable to shareholders of -¥117,619,169.86 due to a 62% increase in marketing expenses[31]. - The company reported a significant increase in domestic revenue, reaching 28,088.46 million RMB, up 15.92% year-on-year[79]. Revenue Breakdown - The company's revenue from online channels has increased, with sales from these channels accounting for nearly 30% of total revenue[23]. - Domestic wig business revenue reached ¥184,795,800, growing by 11.18% year-on-year, driven by online and offline channel integration and social media marketing efforts[31]. - E-commerce revenue in the domestic market reached ¥40,112,400, reflecting a significant growth of 63.27% year-on-year, supported by enhanced marketing on platforms like Douyin and Xiaohongshu[32]. - Revenue from the Americas market was ¥341,676,400, up 9.35% year-on-year, with a focus on high-end products and partnerships with key offline clients[33]. - The European market generated revenue of ¥113,794,300, marking a year-on-year increase of 16.31% despite weak market demand[33]. - Revenue from the African market declined by 17.80% year-on-year to ¥429,047,100 due to currency fluctuations and reduced consumer purchasing power[34]. - The company’s high-end craft wig products saw a remarkable revenue increase of 117.85% year-on-year, totaling ¥192,761,600[34]. - Chemical fiber wig revenue decreased by 33.35% year-on-year to ¥119,027,400, impacted by changes in terminal demand and intensified market competition[35]. Expenses and Costs - Sales expenses increased significantly by 61.87% to CNY 226.24 million, primarily due to enhanced promotional efforts for cross-border e-commerce channels[52]. - The total operating costs increased to ¥1,300,529,506.62 in 2024, up 8.0% from ¥1,204,034,308.98 in 2023[193]. - The company reported a significant increase in sales expenses to ¥165,200,279.65 in 2024 from ¥86,083,933.76 in 2023, reflecting a rise of 92%[196]. Investments and R&D - The total R&D expenditure amounted to ¥36,825,524.02, representing 2.97% of total revenue[66]. - The company has 546 R&D personnel, accounting for 6.71% of the total workforce[67]. - Research and development expenses for 2024 were ¥33,204,527.58, slightly decreased from ¥35,183,381.07 in 2023[196]. Corporate Governance - The company has established a clear and compliant corporate governance structure, ensuring effective operation and protection of shareholder rights[92][93]. - The company held 5 board meetings during the reporting period, ensuring compliance with the Articles of Association and relevant laws[94]. - The supervisory board operated in accordance with the Articles of Association and effectively supervised the legality and compliance of the financial activities of the company[95]. - The company has established a comprehensive information disclosure system, ensuring the accuracy, completeness, and timeliness of disclosures, with no incidents of information leakage or insider trading reported during the period[94]. Environmental Responsibility - The company invested 4.8069 million yuan in environmental protection during the reporting period[127]. - The company has been recognized as a "national green factory" and has received multiple awards for its environmental efforts[130]. - The company has established an environmental monitoring plan and conducts quarterly assessments through third-party agencies to ensure compliance with environmental standards[133]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[134]. Accounting and Restatements - The company corrected prior accounting errors using retrospective restatement, impacting the 2022 and 2023 consolidated financial statements[143]. - For the 2023 consolidated financial statements, cash and cash equivalents were restated from ¥917,645,641.01 to ¥607,905,641.01, a decrease of ¥309,740,000.00[143]. - Other receivables increased from ¥51,183,633.28 to ¥360,923,633.28 due to the same restatement, reflecting an increase of ¥309,740,000.00[143]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 77,406, an increase from 74,286 at the end of the previous month[156]. - The largest shareholder, Henan Ruibeka Holdings Co., Ltd., holds 321,538,217 shares, representing 28.40% of total shares, with a decrease of 60,000,000 shares during the reporting period[159]. - The second-largest shareholder, Xu Yumei, increased her holdings by 60,000,000 shares to a total of 60,000,000 shares, representing 5.30% of total shares[159]. Future Outlook - The company plans to expand its market presence in emerging markets, particularly in Asia and South America, as consumer demand trends towards younger and more diverse preferences[83]. - The global economic growth forecast for 2025 is adjusted to 3.3%, but remains below historical averages, posing challenges for the company's overseas business expansion[87][88]. - The company aims to enhance its market share and profitability by expanding into developed economies and targeting high-net-worth individuals, with a focus on customer needs and product competitiveness[86].