滔搏(06110) - 2022 - 年度财报

Financial Performance - Total revenue for the fiscal year ending February 28, 2022, was RMB 31,876.5 million, a decrease of 8.5% from RMB 36,009.0 million in the previous year[6]. - Gross profit for the same period was RMB 13,824.4 million, down from RMB 14,681.1 million, resulting in a gross margin of 43.4%, up from 40.8%[6]. - Operating profit decreased to RMB 3,430.1 million, compared to RMB 3,989.4 million in the previous year, with an operating profit margin of 10.8%[6]. - Profit attributable to equity holders was RMB 2,446.5 million, slightly down from RMB 2,770.1 million, maintaining a profit margin of 7.7%[6]. - Total revenue for the fiscal year ended February 28, 2022, decreased by 11.5% to RMB 31,876.5 million[11]. - Operating profit declined by 14.0% to RMB 3,430.1 million for the same period[11]. - Profit attributable to equity holders decreased by 11.7% to RMB 2,446.5 million, with basic earnings per share dropping to RMB 0.3945[11]. - The gross profit margin increased to 43.4% for the fiscal year ending February 28, 2022, up from 40.8% in the previous year, attributed to strict discount management and improved wholesale discounts[30]. - Retail business revenue was RMB 26,354.3 million, accounting for 82.7% of total revenue, while wholesale business revenue increased by 5.4% to RMB 5,220.2 million, representing 16.4% of total revenue[27]. - The main brand revenue was RMB 27,569.3 million, which constituted 86.5% of total revenue, while other brands generated RMB 4,005.2 million, accounting for 12.6%[25]. - The esports revenue was RMB 66.0 million, a decline of 19.0% compared to RMB 81.5 million in the previous year[25]. Store Operations - The total number of direct-operated stores decreased by 311 year-on-year, while total sales area increased by 5.4%[7]. - The total number of stores at the end of 2022 was 7,695, a decrease of 311 stores compared to the previous year[15]. - The number of directly operated stores decreased by 311 to 7,695, while the gross sales area increased by 5.4%[13]. - The number of stores smaller than 150 square meters decreased to 4,624, representing 60.1% of total stores in 2022[16]. - The proportion of large stores (over 300 square meters) increased by 3.5 percentage points to 12.9%[14]. - The total number of stores opened in 2022 was 906, while 1,217 stores were closed, resulting in a net decrease of 311 stores[15]. Membership and Customer Engagement - The total membership reached 55.5 million, indicating a strong customer base despite the reduction in store count[7]. - Cumulative registered members reached 55.5 million by February 28, 2022, with member contributions to in-store retail sales (including VAT) maintaining a high level of 96.4%[20]. - The contribution of private traffic sales from mini-program stores reached 10-20% of total direct retail sales[14]. - The company’s app surpassed 4.1 million users by February 28, 2022, facilitating community engagement and user growth[19]. - The company conducted various member activities to enhance engagement, including mid-year benefits and year-end events, contributing to increased member loyalty[19]. Digital Transformation and Strategy - The company plans to enhance its digital capabilities and operational efficiency to adapt to changing consumer behaviors and market conditions[7]. - The company invested in digital transformation, focusing on enhancing operational efficiency and consumer connection through data-driven strategies[17]. - The company launched a new integrated platform for member data management, enabling over 100 user tags for precise consumer behavior analysis[17]. - The company is focusing on optimizing its retail network and enhancing digital capabilities to adapt to changing consumer demands[12]. - The company aims to deepen its market penetration and explore new opportunities in the sports goods sector[8]. Financial Health and Capital Management - The current ratio improved to 2.3 from 1.9, indicating better short-term financial health[6]. - Operating cash flow increased by RMB 936.8 million to RMB 6,592.3 million for the year ending February 28, 2022, compared to RMB 5,655.5 million in 2021[35]. - The company reported a net cash position of RMB 1,234.4 million as of February 28, 2022, compared to a net debt position of RMB 108.4 million in the previous year[35][36]. - Total capital expenditures for the year were RMB 716.4 million, primarily for the purchase of property, plant, and equipment, as well as intangible assets[32]. - The company's financing costs decreased to RMB 217.8 million from RMB 279.3 million in the previous year, attributed to lower average short-term borrowings and interest rates[31]. Corporate Governance - The board consists of two executive directors, four non-executive directors, and three independent non-executive directors as of February 28, 2022[78]. - The company has adopted the corporate governance code as its own governance framework, ensuring compliance with the updated regulations effective from January 1, 2022[76]. - The board is committed to providing effective and responsible leadership, acting in the best interests of the company and its shareholders[78]. - The company has established three board committees: audit committee, remuneration committee, and nomination committee, to oversee various aspects of its operations[78]. - The company provides ongoing professional development training for all directors to ensure they are updated on the latest developments in listing rules and applicable laws[85]. Environmental, Social, and Governance (ESG) Initiatives - The group is committed to reducing the environmental impact of its business activities, as detailed in the Environmental, Social, and Governance report[106]. - The company aims to create a consumer-centric sports retail platform, leveraging technology to enhance customer experience and promote sustainable development[116]. - The board of directors oversees the ESG management strategy, ensuring effective risk management and resource allocation[118]. - The company engages with stakeholders to understand their expectations and adjust operational strategies accordingly to improve ESG management[120]. - The company has focused on sustainable practices, including waste management and green operations in stores[125]. Employee Management and Development - The total number of employees increased to 40,913 from 40,348 in the previous year, with total employee costs amounting to RMB 3,463.7 million, representing 10.9% of total revenue[37]. - The company has developed a training system that includes over 160 training programs and 883 courses available on its online platform, supporting employee learning anytime and anywhere[142]. - The company has established a fair and transparent compensation system, providing various benefits and incentives to motivate employees[136]. - The company emphasizes a diverse and inclusive work environment, ensuring equal employment opportunities regardless of ethnicity, nationality, gender, or age[133]. - The employee turnover rate for males is 59.92%, while for females it is 44.50%[188]. Community Engagement and Social Responsibility - The company actively participated in community disaster relief efforts during the severe rainstorm in Zhengzhou, showcasing its commitment to social responsibility[184]. - The company donated 100 boxes of supplies to the community workers in Xuhui District, Shanghai, in January 2022, to support local efforts during the pandemic[182]. - The company is dedicated to being a responsible corporate citizen, providing quality products and services while contributing to the community[105]. - The company is actively engaging in community participation and fulfilling social responsibilities through public welfare activities[121].