漱玉平民(301017) - 2024 Q4 - 年度财报

Financial Performance - The company's overall revenue growth has slowed, with a year-on-year decline of 2.43% in sales proportion of traditional advantage categories such as health foods and health devices[5]. - The overall gross margin decreased by 2.96% year-on-year due to increased operational costs and intensified competition in the pharmaceutical retail industry[5]. - The company recorded a goodwill impairment provision of RMB 48.88 million during the reporting period[9]. - The expense-to-sales ratio increased by 0.57% year-on-year, despite efforts to implement cost reduction and efficiency improvement measures[7]. - The company will not distribute cash dividends or issue bonus shares for the current fiscal year[12]. - The company's operating revenue for 2024 was CNY 9,570,371,411.51, representing a 4.13% increase compared to CNY 9,191,014,414.62 in 2023[26]. - The net profit attributable to shareholders for 2024 was a loss of CNY 188,810,298.33, a decrease of 241.90% from a profit of CNY 133,057,978.40 in 2023[26]. - The cash flow from operating activities for 2024 was CNY 489,316,905.89, which is a significant increase of 242.40% compared to CNY 142,908,920.66 in 2023[26]. - The total assets at the end of 2024 were CNY 9,273,192,681.97, a slight decrease of 0.65% from CNY 9,333,676,406.45 at the end of 2023[26]. - The company reported a basic earnings per share of -CNY 0.47 for 2024, down 242.42% from CNY 0.33 in 2023[26]. - The company experienced a significant decline in net profit after deducting non-recurring gains and losses, reporting a loss of CNY 197,922,310.83 in 2024 compared to a profit of CNY 126,881,608.02 in 2023, a decrease of 255.99%[26]. - The weighted average return on equity for 2024 was -9.36%, down from 6.28% in 2023, indicating a significant decline in profitability[26]. Market and Competitive Landscape - The retail pharmacy market in China saw a total sales scale of CNY 528.2 billion in 2024, a decline of 2.2% year-on-year[37]. - The pharmaceutical market within retail pharmacies accounted for 82.8% of the total market, with a growth of 0.3% year-on-year[37]. - The company ranked 8th in the "2022-2023 Annual China Chain Drugstore Top 50" list[41]. - Increased market competition is a concern, prompting the company to adopt a strategy of new store openings, acquisitions, and partnerships to strengthen its market position[125]. Operational Strategies - The company plans to optimize resource allocation and reduce logistics costs through warehouse consolidation and flexible procurement strategies[7]. - The company aims to deepen its presence in county markets and explore blank areas within the province through franchise and distribution business development[7]. - The company will continue to track national pharmaceutical policy dynamics and adjust its business strategies accordingly[6]. - The company has completed the layout of provincial and regional distribution centers in several provinces, including Shandong and Heilongjiang, to enhance market expansion[7]. - The company has established 11 logistics distribution centers with a total storage area exceeding 150,000 square meters, ensuring efficient product delivery across multiple provinces[60]. Store and Product Development - The company expanded its store network to 9,035 locations, adding 1,698 new stores during the reporting period[48]. - The number of direct-operated stores reached 4,438, with 57 new stores opened and 395 acquired[48]. - The company is focusing on diversifying its product matrix to meet the evolving health needs of consumers[44]. - The company has streamlined its self-owned product SKU from 878 to 704, improving operational efficiency and reducing inventory turnover risk[58]. - The company has developed a diverse product range, focusing on traditional Chinese medicine and health beauty industries, to meet various consumer demands[72]. Financial Management and Investments - The company has completed significant equity investments totaling ¥400,230,000.00 during the reporting period[103]. - The company has established a comprehensive internal control system covering various operational aspects, including finance and legal affairs[184]. - The company has implemented a performance evaluation mechanism for incentive plan participants based on individual performance metrics[182]. - The company has committed to various investment projects, including a modern logistics project with a total investment of RMB 28,000 million, which is currently not applicable for use[109]. Human Resources and Governance - The company has established a comprehensive human resource management system, enhancing training and performance management across the organization[74]. - The company has a complete corporate governance structure, including a shareholders' meeting, board of directors, and supervisory board, ensuring independent operation[143]. - The company has a diverse management team with backgrounds in various fields, including pharmacy, accounting, and business management[150][155]. - The company has implemented a multi-dimensional incentive mechanism, including individual, team, and organizational incentives, to enhance talent value contribution[170]. Social Responsibility and Community Engagement - The company actively participated in social responsibility initiatives, donating approximately CNY 28.7 million to support special groups and families in need in 2024[192]. - A total of 30 health outreach events were conducted in 2024, reaching over 3,000 participants, focusing on early prevention of common diseases[193]. - The company organized 30 large community cultural festivals in 2024, engaging over 300,000 community residents to promote health awareness[193]. - In 2024, the company launched the "Light of Life" public welfare project, aiming to train at least 70,000 citizens in first aid knowledge through over 100 training sessions[194]. Shareholder Relations and Commitments - The controlling shareholder and actual controller, Li Wenjie, committed to holding all shares for 36 months post-IPO without transferring or entrusting management to others[199]. - The company commits to maintaining independence in operations, finance, and business despite the controlling shareholder's influence[200]. - The controlling shareholder promises not to engage in competitive business activities with the issuer or its subsidiaries[200]. - The company will publicly disclose any violations of share reduction intentions and apologize to shareholders and the public[199].