Business Performance and Growth - In 2021, Zhou Hei Ya achieved substantial growth despite the challenges posed by the COVID-19 pandemic, with a focus on strengthening core capabilities and operational efficiency[15]. - The company accelerated the integration of online and offline operations to stabilize the market and sustain development[15]. - Zhou Hei Ya aims to enhance product appeal and operational efficiency to adapt to the new market environment[15]. - The Group's efforts resulted in win-win outcomes, demonstrating resilience in a challenging market[15]. - Zhou Hei Ya achieved steady growth in 2021 despite economic downturn and weak consumer spending, demonstrating strong anti-risk capability and resilience[17]. - The company plans to continue expanding the integration of franchise and self-operation businesses while accelerating product innovation in 2022[21]. - The Group's franchise business developed beyond expectations, contributing significantly to the overall growth despite the pandemic's challenges[39][42]. - The Group's revenue from Southern China was RMB 403,319,000, accounting for 18.0% of total revenue, a decrease from 19.5% in 2020[37]. - The Group's Internet O&O business revenue grew approximately 23.5% year-on-year, accounting for about 32.0% of total revenue in 2021[51][54]. Financial Highlights - The total revenue for 2021 was RMB 2,234,859,000, representing a 37.9% increase from RMB 1,620,792,000 in 2020[37]. - The Group's total revenue increased by 31.6% from RMB2,181.5 million in 2020 to RMB2,870.0 million in 2021, driven by improved operations and a recovery in consumer demand[72]. - Profit before tax reached RMB450.99 million, a significant increase of 125.4% compared to RMB200.06 million in 2020[74]. - The total comprehensive income for the year was RMB319.71 million, representing a 253.5% increase from RMB90.44 million in 2020[74]. - Basic and diluted earnings per share increased to RMB0.15, up 114.3% from RMB0.07 in the previous year[74]. - Net profit increased by 126.5% from RMB151.2 million in 2020 to RMB342.4 million in 2021, with net profit margin rising from 6.9% to 11.9%[93]. Operational Strategies - Zhou Hei Ya implemented a "self-operation + franchise" business model, enhancing its organizational capacity to support transformation and sustainable growth[20]. - The company established the OCM cost control tower to refine management on production procurement and warehousing logistics, ensuring speed and quality of omnichannel supply[17]. - The Group's refined operations strategy for online ordering and delivery led to rapid growth by tailoring approaches based on region, city, scenario, and time[48]. - The Group established an "end-to-end" full-link supply chain system to improve quality, ensure supply, reduce costs, and increase efficiency[56]. - The Group's processing facility in Eastern China commenced operation in January 2021, shortening the distribution radius by approximately 500 to 600 kilometers and improving delivery efficiency[60]. Market Challenges and Consumer Behavior - The pandemic's impact on consumer confidence and spending has posed long-term challenges for retail enterprises, affecting consumption growth momentum[14]. - The resurgence of COVID-19 variants in the second half of 2021 led to intensified pandemic control measures, impacting offline consumption[14]. - The company recognizes the need to enhance consumers' purchase intention as a key challenge in the post-pandemic era[14]. - The pandemic led to tightened supply chains and a sharp rise in raw material prices, significantly increasing operating costs for enterprises[30]. - The lack of consumer confidence and social isolation resulted in continuous fluctuations in passenger traffic, leading to a recovery lower than expected[30]. Product Development and Innovation - In product development, Zhou Hei Ya optimized its product structure and cultivated a new generation of "key products matrix" to strengthen product appeal and brand power[18]. - The launch of the new small and beautiful Zhou Hei Ya Little Yellow Store aimed to adapt to changing consumption scenarios and habits under the pandemic[18]. - The introduction of new product flavors, including "Treasure Lindera Glauca," has expanded the product range to meet diverse consumer needs[52]. - Monthly gross sales of duck necks in the "Multi-spiced" flavor exceeded RMB 10 million, showcasing successful product innovation[52]. Human Resources and Organizational Development - The company is committed to building a dynamic talent team and providing targeted capability solutions to empower its ecological competitiveness[20]. - The organization is committed to developing internal talent and enhancing employee engagement through various training and development programs[22]. - The Group has implemented diversified incentive plans to enhance employee motivation and organizational cohesion[64]. - The Group continues to optimize its human resource management system and launched a talent development project to improve employee performance and retention[181]. Corporate Governance and Compliance - The Group has not experienced any material impact due to violations of relevant laws and regulations as of December 31, 2021[178]. - The Group's decision-making process is in compliance with applicable laws and regulations, ensuring legal validity[178]. - The Group has obtained all major licenses and permits required by regulatory agencies as of December 31, 2021[178]. Future Outlook and Strategic Goals - Zhou Hei Ya's strategic goals include building a more valuable, responsible, and international enterprise[15]. - The Group plans to accelerate the expansion of high-quality stores and enhance its omni-channel strategy to drive future growth[69]. - The Group aims to rejuvenate its brand and develop a new generation of popular products to attract consumers[69]. - The Group intends to finance its expansion through internal resources and sustainable growth, alongside the net proceeds from its IPO[101][103].
周黑鸭(01458) - 2021 - 年度财报