Brand Positioning and Portfolio - Jiangnan Buyi ranked first in the Chinese designer brand fashion industry by retail sales in 2021 according to Zhi Shi Consulting[8] - The brand portfolio includes multiple brands across three stages: mature brand JNBY and three growth brands (CROQUIS, jnby by JNBY, and LESS), along with emerging brands like POMME DE TERRE and JNBYHOME[18] - JNBY is recognized as the most unique and identifiable women's designer brand in China, with the highest brand loyalty among the top ten women's designer brands based on repeat customer numbers[18] - The company has expanded its brand portfolio from 2005 to 2011 and launched several emerging brands from 2016 to 2019 to cater to a diverse consumer base[18] - The brand philosophy emphasizes "Just Naturally Be Yourself," appealing to consumers seeking unique and personalized fashion experiences[18] Financial Performance - For the fiscal year ending June 30, 2022, the company's revenue was RMB 4,085.87 million, a decrease of 1.0% compared to RMB 4,126.23 million in the previous year[21] - Gross profit for the same period was RMB 2,607.37 million, reflecting a slight increase of 0.4% from RMB 2,597.35 million[21] - Operating profit decreased by 12.2% to RMB 775.85 million from RMB 883.86 million year-on-year[21] - Net profit for the fiscal year was RMB 558.87 million, down 13.6% from RMB 647.20 million in the previous year[21] - The company's cash flow from operating activities was RMB 852.87 million, a significant decline of 36.2% compared to RMB 1,336.58 million[21] Retail and Membership Growth - The number of retail stores globally increased to 1,956 as of June 30, 2022, compared to 1,931 on June 30, 2021, representing a growth of 1.3%[28] - The number of active member accounts exceeded 590,000 as of June 30, 2022, up from over 490,000 a year earlier, indicating a growth of approximately 20.4%[34] - The contribution of retail sales from members remained stable at around 70% of total retail sales for the fiscal year 2022[34] - The retail sales from members who spent over RMB 5,000 reached RMB 2.78 billion, up from RMB 2.61 billion in the previous fiscal year[34] Strategic Initiatives and Future Plans - The company aims to enhance its brand power and expand its retail network to create a sustainable long-term growth model[26] - The company plans to optimize its designer brand and category mix through self-incubation or acquisitions, enhancing design and R&D capabilities to strengthen brand power[49] - The company aims to create a diversified retail network driven by data, technology, and fan economy, continuously providing value-added services to enhance fan experience[49] - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2025[59] Sustainability and ESG Commitment - The company is committed to building an ESG governance framework to promote sustainable long-term high-quality business development[49] - Jiangnan Buyi aims to achieve a sustainable raw material procurement ratio of 30% or more by the end of the fiscal year 2025[139] - The company emphasizes a sustainable development philosophy that prioritizes people and nature, integrating sustainability into all aspects of its operations[137] - The company has established an ESG governance structure with the board of directors as the highest decision-making body to implement sustainable development strategies[141] Employee and Management Practices - The company provides competitive compensation and development opportunities for employees, including management skills and industry-related training[72] - The company emphasizes the importance of board diversity as a key factor in achieving strategic goals and sustainable development[121] - The company has implemented a comprehensive compensation management system to attract and retain talent, ensuring fair and compliant remuneration[193] - The company has launched online live recruitment, attracting over 1,000 candidates to support business development[190] Quality Control and Customer Engagement - The company implemented a quality control system to protect consumer rights and enhance service quality[147] - The "BOX+ Not Just a Box" service has served over 200,000 members and dispatched over 400,000 boxes, enhancing customer engagement through personalized styling services[168] - The company received a total of 15,490 customer complaints in FY2022, achieving a 100% response and resolution rate[170] - The company continuously optimizes customer feedback channels, including a 400 hotline and online platforms, to improve service quality[170] Supply Chain and Supplier Management - As of the end of fiscal year 2022, Jiangnan Buyi had a total of 2,940 suppliers, with 248 new suppliers added during the fiscal year[180] - The company emphasized data security and privacy protection, adhering to relevant laws and implementing strict data management protocols[178] - Jiangnan Buyi implemented strict supplier evaluation criteria, focusing on contract performance, innovation capability, and compliance with ESG indicators[180] - The company has established a Supplier Code of Conduct focusing on environmental and social indicators, requiring suppliers to comply with all relevant laws and regulations[183]
江南布衣(03306) - 2022 - 年度财报