Financial Performance - Revenue for the year ended February 28, 2023, was RMB 413.2 million, a decrease of 27.4% compared to RMB 569.0 million for the previous year[5]. - The consolidated loss attributable to owners of the company was RMB (50.3) million, compared to a profit of RMB 3.0 million in the previous year[5]. - Basic losses per share were RMB (7.12) cents, down from earnings of RMB 0.42 cents per share in the previous year[5]. - Total equity decreased by 5.9% to RMB 663.6 million from RMB 705.3 million[5]. - Net cash balances fell by 12.2% to RMB 371.6 million, down from RMB 422.4 million[5]. - Net asset value per share decreased to RMB 0.94, a decline of 5.9% from RMB 1.00[5]. - Net cash per share was RMB 0.53, down 12.2% from RMB 0.60[5]. - Consolidated gross profit decreased by 24.8% year-on-year to RMB 269,200,000, with a gross profit margin of 65.2%, an increase of 2.3 percentage points compared to the previous year[71][76]. - Selling and distribution expenses decreased by 7.3% year-on-year to RMB 240,200,000, but the ratio of these expenses to total revenue increased by 12.5 percentage points to 58.1%[77]. - General and administrative expenses decreased by 6.9% to RMB 86,900,000, but the ratio to total revenue increased by 4.6 percentage points to 21.0%[80]. - The Group recorded a net loss attributable to equity holders of RMB 50,300,000 (2021/22: profit of RMB 3,000,000), with basic loss per share at RMB 7.12 (2021/22: profit of RMB 0.42)[85]. - The Group's annual retail revenue decreased by 27.4% year-on-year to RMB 413,200,000 (2021/22: RMB 569,000,000) with same store sales declining by 27.7%[99]. - Retail sales in Mainland China decreased by 26.8% to RMB 410,400,000, compared to RMB 560,700,000 in the previous year[109]. Operational Changes - The Group centralized inventory management and closed small local warehouses to improve cost-efficiency in warehouse logistics[43]. - The Group closed low-performing stores and prudently opened new ones to enhance sales channel efficiency and improve cost structure[43]. - The Group optimized its supply chain by centralizing warehouse management and closing local small warehouses to improve inventory allocation speed[114]. - The Group negotiated with property owners to limit lease periods to two years or less, enhancing flexibility in its store network[114]. - The Group is expanding its customer base by planning to open a store in Macau, in addition to its existing operations in Hong Kong[52]. - The Group's retail network comprised 328 stores at the end of the year, with a net decrease of 56 self-owned stores and 5 franchised stores[103]. Marketing and E-commerce Strategy - The Group launched its official e-shop in Hong Kong on November 2, 2022, extending thousands of products and quality services from offline to online[33]. - The Group is actively developing an omni-channel operation strategy, with the "Omni-Channel Middle Platform Project" expected to be implemented by the end of 2023[46]. - The Group launched a series of new promotion materials on social e-commerce platforms in the first quarter of 2023 to enhance brand influence[46]. - The Group's "Light Chaser" theme was launched on the online channel, offering various series of products to meet the needs of targeted customer groups[36]. - The Group continues to invest in social e-commerce platforms and launched a marketing campaign themed "Light Chaser" to enhance brand influence[120]. - The Group aims to enhance brand power through marketing strategies on social e-commerce platforms such as Douyin, Xiaohongshu, and Weibo, aiming to broaden the target customer base and increase market share[130]. - The Group's overall revenue of the e-commerce business increased by 1.4% year-on-year despite weak domestic consumer sentiment and strict lockdown measures[120]. Employee and Corporate Governance - The Group was honored as a "Happy Company" for more than 5 years consecutively, reflecting its commitment to creating a pleasant working environment[35]. - The Group has implemented a comprehensive occupational health management framework to protect employees' physical and mental health[61]. - Total employee benefit expenses for the twelve months ended 28 February 2023 were RMB 135,900,000, down from RMB 147,900,000 in the previous year[150][151]. - The group had a full-time staff force of 1,120 employees as of 28 February 2023, a decrease from 1,342 employees a year earlier[150][151]. - The Group's board is committed to maintaining high standards of corporate governance, focusing on independence, accountability, and transparency to protect shareholder interests[175]. - The Group emphasizes a corporate culture based on teamwork, respect, ethics, and innovation, guided by core values of Supreme Quality, Innovative Thinking, and Mutual Respect[182]. - The Board believes that adherence to its vision and mission, along with sustainable corporate strategies, will enable the Group to cope with external challenges and achieve stable development[65][66]. Future Outlook - The Group aims to return sales to pre-pandemic levels in the medium to long term, with ongoing efforts to enhance operational efficiency and reduce costs through digital tools[138]. - The Chinese economy is expected to gradually improve post-pandemic, with support for domestic demand and stabilization of prices[127]. - The Group believes that the Chinese economy will gradually improve post-pandemic, with enhanced domestic productivity and consumer spending, leading to growth in both physical and online sales[128]. - The Group plans to implement an "Omni-Channel Middle Platform Project" by the end of 2023 to improve marketing efficiency and customer interaction[47].
莱尔斯丹(00738) - 2023 - 年度财报