mailyard(SH:600107)2021-06-17 16:00Financial Performance - In 2020, the company achieved a net profit of CNY 127,580,105.30, with a net profit attributable to shareholders of CNY 131,038,837.64, marking a significant increase of 232.15% compared to CNY 39,451,908.62 in 2019[4]. - The company's operating revenue for 2020 was CNY 338,918,564.50, a decrease of 24.22% from CNY 447,250,852.08 in 2019[20]. - Basic earnings per share rose to CNY 0.36 in 2020, up from CNY 0.11 in 2019, reflecting a growth of 227.27%[22]. - The weighted average return on equity increased to 19.58% in 2020, up by 12.82 percentage points from 6.76% in 2019[22]. - The company reported a net loss of CNY 27,182,935.01 after excluding non-recurring gains and losses, compared to a loss of CNY 10,603,460.11 in 2019[20]. - The company reported a total of RMB 158,221,772.65 in non-recurring gains for 2020, a substantial increase from RMB 50,055,368.73 in 2019[25]. - The company achieved operating revenue of CNY 338,918,564.50, a decrease of 24.22% compared to CNY 447,250,852.08 in the previous year[43]. - Net profit attributable to shareholders increased by 232.15% to CNY 131,038,837.64 from CNY 39,451,908.62 in the previous year[43]. - The company’s total profit amounted to 150,096,806.68, up from 36,431,540.45, indicating a growth of around 312%[199]. Cash Flow and Assets - The cash flow from operating activities increased by 74.32% to CNY 75,255,494.71 from CNY 43,170,302.02 in the previous year[20]. - The company's total assets attributable to shareholders increased by 21.77% to CNY 734,956,553.99 from CNY 603,564,875.79 at the end of 2019[20]. - The company's cash and cash equivalents decreased by CNY 22,287,705.33, a decline of 11.12%[3]. - The company's trading financial assets increased by CNY 62,741,737.31, a growth of 131.23%[3]. - The company's total assets amounted to RMB 1,325,604,548.30, an increase from RMB 1,057,150,993.40 in 2019, reflecting a growth of approximately 25.3%[190]. - Total liabilities as of December 31, 2020, were RMB 557,114,123.61, compared to RMB 418,000,968.21 in 2019, indicating an increase of about 33.4%[191]. - The company's inventory stood at RMB 226,435,317.74 as of December 31, 2020, slightly down from RMB 229,349,489.17 in 2019, a decrease of about 1.3%[190]. Market and Industry Trends - The apparel industry in China saw a 11.34% decline in revenue for 2020, but the company managed to adapt and recover in the latter half of the year[30]. - The company's online retail sales for apparel increased by 5.8% in 2020, reflecting a shift towards e-commerce amid the pandemic[32]. - The total apparel production in China decreased by 7.65% in 2020, but the company capitalized on the recovery trend starting from Q2[32]. - The company recognizes the increasing competition in the apparel industry, with the top ten women's apparel brands in China holding only 8.4% market share compared to 19.1% in the US and 35.6% in Japan, indicating significant room for market concentration improvement[85]. Corporate Governance and Management - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[6]. - The company has outlined potential risks related to industry and market conditions in its report, advising investors to be cautious[7]. - The company has established a comprehensive market promotion and customer service network covering major financial centers in China[41]. - The company has focused on product innovation and quality improvement to adapt to new market demands[39]. - The company has a structured remuneration policy for senior management, which is strictly aligned with performance assessment standards[154]. - The company has maintained a consistent leadership structure with no changes in key positions since October 2019[148]. Social Responsibility and Community Engagement - The company donated CNY 24 million worth of medical supplies to support the fight against pneumonia[132]. - The company actively fulfilled its corporate social responsibility by improving employee working conditions and focusing on environmental protection[130]. - The company provided support to the medical team fighting COVID-19 by offering its hotel as a designated accommodation[132]. Future Outlook and Strategic Plans - The company aims for stable revenue growth and improved profitability in 2021, with the goal subject to adjustments based on macroeconomic conditions and market trends[88]. - The company plans to strengthen brand management and marketing strategies to enhance brand influence and market share, creating a virtuous cycle of "market promotion of brand, brand promotion of market"[88]. - The company plans to focus on market expansion and new product development in the upcoming year, aiming to enhance its competitive edge[198].