CCEG(SH:600697)2023-04-12 16:00Financial Performance - The company's operating revenue for 2022 was RMB 6,920,369,702.99, a decrease of 17.14% compared to RMB 8,351,999,980.41 in 2021[23]. - The net profit attributable to shareholders of the listed company was -RMB 159,400,424.79, representing a decline of 663.24% from RMB 28,300,589.18 in the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -RMB 258,342,341.50, a decrease of 728.87% year-on-year[25]. - The net cash flow from operating activities decreased by 42.99%, amounting to RMB 728,419,422.22 compared to RMB 1,277,736,017.21 in 2021[25]. - The basic earnings per share for 2022 was -RMB 1.00, down 655.56% from RMB 0.18 in 2021[24]. - The weighted average return on net assets was -6.39%, a decrease of 7.25 percentage points from 0.86% in the previous year[24]. - The total assets at the end of 2022 were RMB 21,284,012,920.82, a decrease of 3.37% from RMB 22,025,692,994.88 at the end of 2021[23]. - The company reported a total profit of RMB 10,933.98 million, a decrease of RMB 25,060.25 million year-on-year[35]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 4.00 CNY per 10 shares, totaling 63,635,230.00 CNY to shareholders based on the total share capital of 159,088,075 shares as of the end of 2022[4]. - The proposed cash dividend for 2022 remains the same at 4.00 RMB per 10 shares, with a total distribution of 63,635,230.00 RMB based on the total share capital of 159,088,075 shares[159]. - The net profit attributable to shareholders for the year was 28,300,589.18 RMB, indicating a significant payout ratio[162]. Operational Challenges - The company faced significant operational challenges, including a four-month closure, impacting revenue and net profit[34]. - The retail sales of consumer goods in Jilin Province decreased by 9.7% year-on-year, impacting the company’s performance, which saw a slight decline compared to the provincial average[42]. - The company experienced a significant reduction in operating time, shortening by 4 months during the year, impacting overall revenue[52]. - The company has experienced operational losses leading to store closures in Jilin Province due to market factors[84]. Business Strategy and Expansion - The company aims to recover operations and reduce costs amidst market pressures and risks[34]. - The company plans to leverage its brand reputation and operational advantages to enhance sales and profitability in 2023 amid economic recovery efforts[69]. - The company intends to open 2-3 new construction projects and 1-3 new stores in 2023, focusing on optimizing investment structure and asset management[110]. - The company is actively managing its lease agreements, with some properties under lease until the end of 2022, indicating a strategy for property management and optimization[71]. - The company is focusing on both owned and leased properties to optimize its operational costs and market reach[77]. Digital Transformation and Efficiency - The company’s digital transformation efforts included the implementation of a task management platform and optimization of the financial sharing platform, improving operational efficiency and cost control[41]. - Digital transformation will be prioritized, with a focus on integrating data across core business areas to improve decision-making and operational efficiency[114]. - The company plans to enhance its logistics system's standardization and information technology to support self-operated procurement efforts[89]. Corporate Governance and Compliance - The company has provided a standard unqualified audit report from Zhongxing Caiguanghua Accounting Firm[9]. - The company’s financial report has been confirmed for authenticity, accuracy, and completeness by its board of directors and senior management[9]. - The board approved a credit limit of 10.46 billion yuan from 12 financial institutions, with over 85% utilized by year-end, ensuring funding support for subsidiary operations[122]. - The company has increased the frequency of internal control inspections and improved overall processes to enhance governance[129]. - The company has not faced any penalties from securities regulatory authorities in the past three years[144]. Market Conditions and Competition - The global economic growth forecast for 2023 has been downgraded to 1.7%, marking one of the lowest levels in nearly 30 years, impacting domestic economic recovery[102]. - The retail industry faces significant challenges due to insufficient market sentiment and increased competition from online shopping, but there are opportunities for growth through the integration of online and offline channels[103]. - The retail industry is experiencing intensified competition, particularly from emerging formats like community group buying and duty-free shops, which may narrow the company's market share[118]. Employee and Management Information - The company reported a total of 9,999 employees, with 842 in the parent company and 9,157 in major subsidiaries[155]. - The sales personnel accounted for 6,648 employees, representing approximately 66.6% of the total workforce[155]. - The total pre-tax remuneration for the management team amounted to 15.19 million CNY for the reporting period[134]. - The company has implemented a dynamic salary management system based on job roles and performance, ensuring internal equity and external competitiveness[156]. Asset Management and Investments - The company has a total of 20 subsidiaries, with varying levels of profitability, including some with negative net profits[100]. - The company made equity investments totaling CNY 121.62 million, including CNY 68 million injected into a joint venture and CNY 18.62 million for purchasing shares in Jilin Bank[95]. - The company has optimized its asset structure by resolving disputes with real estate partners, thereby maintaining operational continuity[123]. Legal and Regulatory Matters - The company reported a significant lawsuit involving a claim of RMB 28 million, which was resolved with both parties withdrawing their claims, resulting in no negative impact on the company's profits[179]. - The company has not reported any major litigation or arbitration matters that have not been disclosed in temporary announcements[179]. - The company has not disclosed any major related party transactions that have progressed or changed during the reporting period[182].