Financial Performance - For the year ended December 31, 2021, the company reported revenue of approximately RMB 813.8 million, an increase of about 5.5% compared to RMB 771.5 million for the year ended December 31, 2020[7]. - The gross profit margin for the year ended December 31, 2021, was approximately 14.1%, a decrease of about 2.3 percentage points from the previous year[11]. - The company's net profit attributable to shareholders for the year ended December 31, 2021, was RMB 35.2 million, representing an increase of approximately 7.7% from RMB 35.0 million in the previous year[11]. - Total assets as of December 31, 2021, amounted to RMB 673.1 million, an increase from RMB 565.1 million in 2020[8]. - Total liabilities as of December 31, 2021, were RMB 444.8 million, compared to RMB 356.6 million in 2020[8]. - The group's revenue for the year ended December 31, 2021, was approximately RMB 813.8 million, an increase of about 5.5% from approximately RMB 771.5 million for the year ended December 31, 2020[19]. - The gross profit decreased from approximately RMB 126.9 million for the year ended December 31, 2020, to approximately RMB 115.1 million for the year ended December 31, 2021, representing a decline of about 9.3%[17]. - The gross profit margin decreased from approximately 16.4% for the year ended December 31, 2020, to approximately 14.1% for the year ended December 31, 2021[17]. - The group's profit for the year decreased from approximately RMB 36.0 million for the year ended December 31, 2020, to approximately RMB 35.2 million for the year ended December 31, 2021, a decrease of about RMB 0.8 million or approximately 2.2%[27]. Market Trends and Strategy - The company continues to diversify its product offerings to meet market trends, particularly in the demand for more versatile and comfortable sportswear[11]. - The company aims to leverage opportunities in the sports leisure market driven by increasing consumer health awareness and the trend of working from home[11]. - The Chinese apparel retail market recorded positive growth in 2021, benefiting the textile industry[11]. - The group plans to diversify its product portfolio and explore opportunities in high-growth potential markets, prioritizing the sportswear market[18]. - The group has successfully applied for the status of "National Textile Product Development Base" for corduroy and knitted fabric categories, affirming its strong product development capabilities[18]. Expenses and Costs - The group's sales cost increased from approximately RMB 644.5 million for the year ended December 31, 2020, to approximately RMB 698.7 million for the year ended December 31, 2021, representing an increase of about RMB 54.2 million or approximately 8.4%[20]. - Selling and distribution expenses increased from approximately RMB 23.6 million for the year ended December 31, 2020, to approximately RMB 30.1 million for the year ended December 31, 2021, an increase of about RMB 6.5 million or approximately 27.5%[23]. - Administrative expenses decreased from approximately RMB 47.6 million for the year ended December 31, 2020, to approximately RMB 40.0 million for the year ended December 31, 2021[24]. Corporate Governance - The company has a strong management team with extensive experience in the textile and dyeing industry, including the founder and executive directors[38][39]. - The independent non-executive directors provide oversight and independent judgment to the board, enhancing corporate governance[40][41]. - The company is committed to maintaining transparency and accountability in its financial reporting and corporate governance practices[40]. - The board consists of eight members, including five executive directors and three independent non-executive directors[99]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee[98]. Environmental, Social, and Governance (ESG) Initiatives - The company has established a three-tier ESG governance structure, including a board-level ESG committee to oversee and review ESG matters[142]. - The company has committed to sustainable practices and management models, integrating ESG considerations into daily operations[142]. - The report adheres to the Hong Kong Stock Exchange's ESG reporting guidelines, ensuring accuracy and reliability of the data presented[136]. - The company has implemented a comprehensive environmental management system, achieving compliance with national standards such as GB/T 24001-2016 and ISO 14001:2015, and has been listed as a national green factory[154]. - The company has established a climate risk management framework, integrating climate change risks into its overall risk management system[184]. Employee Relations and Workforce - The company employed a total of 482 employees, with 481 located in China and 1 in Hong Kong[54]. - The company emphasizes equal employment and a discrimination-free work environment, ensuring compliance with various labor laws and regulations[189]. - The company has established a comprehensive occupational health management system, certified under OHSAS 18001:2007 and GB/T 28001-2011[198]. - The majority of employees (481) are located in mainland China, with only 1 in Hong Kong, Macau, and Taiwan[195]. - Employee turnover is 72, with a turnover rate of 12.31% for males and 20.38% for females[195].
亚东集团(01795) - 2021 - 年度财报