Metersbonwe(002269)2025-04-28 17:50Financial Performance - The company's operating revenue for 2024 was ¥680,718,761.43, a decrease of 49.79% compared to ¥1,355,728,301.12 in 2023[21]. - The net profit attributable to shareholders for 2024 was -¥195,378,136.23, representing a decline of 715.45% from ¥31,745,830.83 in 2023[21]. - The cash flow from operating activities for 2024 was -¥301,852,671.59, a decrease of 58.88% compared to -¥189,991,360.41 in 2023[21]. - The total assets at the end of 2024 were ¥1,898,412,950.52, down 30.13% from ¥2,717,252,025.59 at the end of 2023[21]. - The company's main business revenue after deducting non-core business income was ¥539,995,255.77 in 2024, compared to ¥850,032,585.93 in 2023[22]. - The company reported a basic earnings per share of -¥0.08 for 2024, a decrease of 900.00% from ¥0.01 in 2023[21]. - The company's total revenue for 2024 was approximately ¥680.72 million, representing a 49.79% decrease compared to ¥1.36 billion in 2023[49]. - Revenue from the wholesale and retail sector accounted for 79.33% of total revenue in 2024, down from 62.70% in 2023, with a decrease of 36.47% in this segment[49]. - Men's clothing revenue was ¥314.67 million, making up 46.23% of total revenue, a decline of 39.08% from ¥516.51 million in 2023[49]. Market Position and Strategy - The company holds a strong market position in the domestic leisure apparel retail sector, but faces increasing competition from both domestic and international brands[5]. - The company is focusing on enhancing brand competitiveness and influence to mitigate risks from industry competition[36]. - The company is implementing a "trendy outdoor" brand upgrade strategy and a "5.0 new retail" strategy to enhance consumer experience and market competitiveness[47]. - The company plans to open multiple experience stores nationwide in the second half of 2024 as part of its "5.0 new retail" strategy[47]. - The company plans to leverage big data to analyze consumer behavior and preferences for better product development[37]. - The company is committed to product innovation as a core driver for growth in the competitive apparel market[32]. Risk Management - The leisure apparel industry is significantly affected by macroeconomic fluctuations, posing risks to the company's main business development and profitability[4]. - The company emphasizes the importance of risk awareness among investors regarding forward-looking statements and plans[4]. - The company faced significant risks from macroeconomic fluctuations, which could impact its main business development and profitability[35]. - The company has recognized the importance of risk management and has established a comprehensive management system for both direct and franchise channels[46]. Governance and Management - The company has established independent financial accounting departments and a standardized financial management system[110]. - The company operates independently from its controlling shareholders and has no shared bank accounts with them[110]. - The board of directors and senior management are independent and not involved in other positions within the controlling shareholder's enterprises[110]. - The company has a structured governance framework including a board of directors, supervisory board, and management team[110]. - The company has maintained a consistent governance structure to ensure operational independence and financial integrity[110]. - The company has established a strong governance structure with independent directors and a dedicated supervisory board[119]. Shareholder Engagement - The company held its first temporary shareholders' meeting of 2024 on January 15, with an investor participation rate of 43.23%[111]. - The second temporary shareholders' meeting of 2024 took place on January 22, with a participation rate of 43.19%[111]. - The annual shareholders' meeting for 2023 was held on May 22, achieving a participation rate of 42.50%[111]. - The third temporary shareholders' meeting of 2024 occurred on July 18, with a participation rate of 42.60%[111]. - The fourth temporary shareholders' meeting of 2024 was conducted on December 5, with a participation rate of 43.26%[111]. Employee and Talent Management - The total number of employees at the end of the reporting period is 891, with 307 in the parent company and 584 in major subsidiaries[136]. - The professional composition includes 605 sales personnel, 81 technical personnel, 43 financial personnel, and 125 administrative personnel[136]. - The company emphasizes a "fair, open, and transparent" compensation performance system, focusing on performance results and establishing a reasonable profit-sharing mechanism[137]. - The management trainee program selects hundreds of outstanding graduates from top domestic universities each year for focused training and rotation over 2-3 years[138]. - The high-potential talent program aims to cultivate internal employees with development potential, focusing resources on their growth[138]. Financial Disclosures and Compliance - The company’s financial disclosures were found to be inaccurate, leading to regulatory warnings for key executives[123]. - The company’s financial assistance practices were not disclosed in a timely manner, violating disclosure regulations[122]. - The company’s annual report for 2023 was released on April 30, 2024, detailing the financial discrepancies[123]. - The company has not encountered any major defects in internal control during the reporting period[144]. - The internal control audit report confirmed that the company maintained effective financial reporting internal controls as of December 31, 2024[148]. Legal and Regulatory Matters - The company is involved in a lawsuit concerning a rental contract dispute with Shanghai Hongding Investment Management, with a claim amount of 11.9148 million yuan[162]. - The company has no significant litigation or arbitration matters pending as of the reporting period[161]. - The company reported a debt of 797 million yuan related to guarantees provided, with ongoing legal actions to recover losses[164]. - The total assets of Qianxiahu Development Company, involved in the lawsuit, exceeded 1.4 billion yuan as of December 31, 2023[164]. Inventory and Supply Chain Management - The company has established a strong supply chain management capability, integrating business flow, information flow, logistics, and capital flow[42]. - The company reported a significant reduction in inventory, with a year-over-year decrease of 35.15%, reflecting a strategic shift in product procurement[55]. - The inventory turnover days for finished apparel products were 370 days, with a total inventory balance of approximately 639.59 million, showing a year-on-year decrease of 24.41%[74]. - The inventory structure indicates that 92.10% of the inventory consists of finished apparel, with a total inventory value of approximately 431.50 million and a provision for inventory depreciation of approximately 137.28 million, resulting in a depreciation provision ratio of 31.81%[77]. Future Outlook - The company plans to continue expanding its market presence while focusing on the development of new products and technologies[60]. - The company is focusing on improving product competitiveness and enhancing consumer experience through digital applications and organizational transformation[102]. - In 2024, the company plans to enhance brand marketing and invest in new retail capabilities, which may initially affect profit margins but is aimed at long-term growth[102].