Rebecca(SH:600439)2021-04-25 16:00Financial Performance - In 2020, the company's operating revenue was approximately CNY 1.33 billion, a decrease of 26.92% compared to CNY 1.82 billion in 2019[21]. - The net profit attributable to shareholders was CNY 38.14 million, down 81.99% from CNY 211.79 million in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 18.31 million, a decline of 91.07% compared to CNY 204.96 million in 2019[21]. - Basic earnings per share decreased by 81.99% to CNY 0.0337 in 2020 compared to CNY 0.1871 in 2019[22]. - The weighted average return on equity dropped to 1.34% in 2020, down 5.89 percentage points from 7.23% in 2019[22]. - The company achieved a main business revenue of CNY 1,329,586,420.48, a year-on-year decrease of 26.92% due to the impact of COVID-19 and global economic recession[52]. - The net profit attributable to shareholders was CNY 38,141,473.17, down 81.99% year-on-year, primarily due to decreased revenue and increased foreign exchange losses from the appreciation of the RMB[52]. - Total revenue for the year was CNY 1,292,028,945.28, a decrease of 27.35% compared to the previous year[79]. - The company reported a net cash flow from operating activities of CNY 146,726,777.99, which was relatively stable compared to the previous year[53]. - The company reported a total R&D investment of ¥41,060,006.52, which represents 3.09% of total operating revenue[67]. Cash Flow and Assets - The cash flow from operating activities was CNY 146.73 million, a slight decrease of 3.11% from CNY 151.44 million in 2019[21]. - Total assets at the end of 2020 were CNY 4.85 billion, down 3.59% from CNY 5.03 billion at the end of 2019[21]. - The total assets of the company were CNY 4,845,533,873.97, a decrease from CNY 5,025,893,654.70 in 2019, reflecting a decline of approximately 3.58%[175]. - Current assets totaled CNY 3,877,125,322.76, down from CNY 4,020,269,448.77 in the previous year, indicating a decrease of about 3.55%[176]. - Cash and cash equivalents were reported at CNY 385,582,542.08, a decline from CNY 455,888,757.26, representing a decrease of approximately 15.37%[176]. - Inventory decreased to CNY 3,131,738,717.77 from CNY 3,196,541,414.82, showing a reduction of about 2.03%[176]. - Total current liabilities increased to CNY 2,011,937,923.25 from CNY 1,503,252,603.06, marking an increase of approximately 33.73%[177]. - The company reported a significant increase in accounts payable, which rose to CNY 58,754,472.58 from CNY 40,267,678.34, an increase of about 45.73%[177]. Market and Business Strategy - The company operates a global supply chain with 12 wholly-owned subsidiaries abroad, including 8 sales companies and 4 production companies[33]. - The main business includes the R&D, design, production, and sales of hair products, with a complete industrial chain and a wide range of products[32]. - The company has established a retail model that integrates online and offline sales for its own brands in North America[33]. - The company has maintained stable revenue in the North American market, supported by strong consumer demand and economic stimulus measures, while facing challenges in the African and European markets due to the pandemic[47]. - The company has implemented a strategy focusing on pandemic prevention and production stability, ensuring zero infections among employees and maintaining stable operations[46]. - The company has adapted its business strategy in response to the pandemic, improving operational efficiency and gradually restoring sales to normal levels by the fourth quarter[47]. - The company plans to strengthen its supply chain and inventory management to improve profitability and respond to market changes[85]. - The domestic market development strategy aims to increase the domestic sales proportion while enhancing the influence of the "Rebecca" brand[85]. Research and Development - The company increased its R&D expenses by 5.47% to CNY 41,060,006.52, reflecting a commitment to product development despite overall revenue decline[53]. - The research and development of new products is a priority, aiming to drive future revenue growth and market competitiveness[200]. - The company actively participates in industry standards and has been involved in drafting several national technical standards for the wig industry[40]. Environmental and Corporate Governance - The company has complied with environmental regulations, achieving standard emissions for wastewater and air pollutants[107]. - The company has been recognized as a "provincial green enterprise" and "provincial green factory" for its environmental management efforts[108]. - The company has established an emergency response plan for environmental incidents, with no such incidents reported during the reporting period[110]. - The company has a well-defined corporate governance structure that complies with relevant laws and regulations, ensuring clear responsibilities and effective decision-making[137]. - The company has implemented a robust information disclosure system, ensuring timely, accurate, and complete information dissemination to protect investor interests[139]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 51,252, a decrease from 52,713 at the end of the previous month[113]. - The largest shareholder, Henan Ruibeka Holdings Co., Ltd., held 381,538,217 shares, representing 33.71% of the total shares[117]. - The company has not disclosed any significant related party transactions or major contracts during the reporting period[104][105]. - The company has not proposed a cash profit distribution plan for the fiscal year 2020, despite having positive distributable profits[96]. Employee and Management Information - The total number of employees in the parent company is 4,042, while the total number of employees in major subsidiaries is 4,855, resulting in a combined total of 8,897 employees[132]. - The company maintains a competitive and fair compensation policy, with a mixed compensation strategy that includes fixed salaries, performance bonuses, and allowances[133]. - The company emphasizes employee training and has a structured training program that includes various levels and types of training, ensuring alignment with business needs[134]. - The total pre-tax remuneration for all directors, supervisors, and senior management during the reporting period amounted to 1.8964 million yuan[130]. Financial Strategy and Future Outlook - The company’s financial strategy includes a focus on improving comprehensive income and managing equity more effectively moving forward[200]. - The company plans to enhance its market expansion efforts to recover from the recent declines in income and capital contributions[200]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its offerings[200].