CBEST(SH:600729)2023-06-12 16:00Financial Performance - In 2022, the company achieved a total operating revenue of RMB 18,303,686,257.76, a decrease of 13.40% compared to RMB 21,135,762,341.31 in 2021[29]. - The net profit attributable to shareholders of the listed company for 2022 was RMB 883,382,927.97, down 7.16% from RMB 951,536,566.98 in 2021[29]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 796,383,327.12, a decrease of 13.35% compared to RMB 919,058,522.48 in 2021[29]. - The net cash flow from operating activities was RMB 619,369,064.58, a decline of 44.39% from RMB 1,113,725,038.06 in 2021[29]. - The company's total assets as of December 31, 2022, were RMB 17,204,113,656.86, down 5.59% from RMB 18,223,551,976.97 at the end of 2021[29]. - The company reported a basic earnings per share of 2.23 yuan, a decrease of 6.30% compared to the previous year[45]. - The weighted average return on equity increased by 2.39 percentage points to 17.25%[45]. - The company reported a diluted earnings per share of 2.23 yuan, consistent with the basic earnings per share[45]. - The company achieved a return on equity of 14.38% after deducting non-recurring gains and losses, a slight increase from the previous year[45]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 6.80 per 10 shares, totaling RMB 272,542,892.28, with a cash dividend ratio of 30.85%[19]. - The company reported a cash dividend of CNY 1,501,478,126.09, which represents 153.23% of the net profit attributable to ordinary shareholders in the consolidated financial statements[63]. - The total dividend amount, including cash dividends, reached CNY 1,746,132,468.71, accounting for 178.20% of the net profit attributable to ordinary shareholders[63]. - The company has maintained a cash dividend policy for 25 consecutive years, actively returning value to investors[58]. Corporate Governance and Internal Control - The company has established a complete internal control system in compliance with relevant laws and regulations[51]. - The company has rectified issues related to the timely replacement of the board of directors and conflicts of interest with controlling shareholders[36]. - The company plans to further improve its corporate governance in accordance with legal regulations[36]. - The company has established internal control processes and regularly audits subsidiaries to mitigate operational and financial risks[58]. - The company revised 14 governance documents to enhance its corporate governance structure[58]. Market and Operational Challenges - The company experienced a significant decline in quarterly performance, with Q4 2022 net profit dropping to RMB 43,419,363.10 from RMB 174,087,111.59 in Q2 2022[33]. - The company has outlined potential risks including macroeconomic risks, consumer trend risks, and market competition risks in its future development discussion[22]. - The company has identified risks related to policy changes, market environment, and consumer trends that could impact its operational performance[197][198]. Sales and Market Expansion - The company’s membership reached 20 million, with online sales exceeding 2.8 billion yuan, a year-on-year increase of 240%[72]. - The sales of fresh self-operated products increased by 76%[72]. - The company sold 1,560 new energy vehicles, representing a year-on-year growth of 183%[72]. - The company introduced over 22 new external brands and increased direct supplier sales to 65%[72]. - The company is focusing on digital transformation and enhancing online operations to improve customer experience and sales performance[93]. - The company is exploring online sales channels, which could enhance revenue streams amid physical store closures[126]. - The company has identified key markets for expansion, particularly in Chongqing, where several of its top-performing stores are located[132]. Store Operations and Closures - The company closed multiple stores due to losses, including the Xin Century Supermarket in Jinhua Road with a loss of 2,591 thousand and the Xiu Mountain store with a loss of 3,871 thousand[123]. - The company reported a total of 8,700 thousand in losses for the Xin Century Supermarket at the Xuefu Yuyuan store, which was closed due to poor performance[124]. - The company has a plan for further store closures in 2023, indicating ongoing challenges in maintaining profitability[125]. - The company plans to close 15 underperforming stores due to unprofitability or lease expiration, including locations in Fengdu, Dazhou, and Lichuan[140]. Logistics and Supply Chain - The logistics business achieved a delivery value of CNY 4.712 billion in 2022, representing a year-on-year growth of 18.10%[143]. - The company has a total warehouse area of 97,000 square meters, with 85,000 square meters being self-owned, accounting for 87.63% of the total[143]. - The inventory turnover days improved from 48 days to 28 days, an increase of 41.67%[143]. - The company increased its number of regular suppliers to 282, an increase of 18.48% year-on-year[143]. - The company’s cold chain business introduced 6 new suppliers, enhancing its fresh produce supply[143]. Research and Development - The company invested a total of ¥28,573,498.20 in R&D, representing 0.16% of operating revenue, with 91 R&D personnel making up 0.62% of the total workforce[110]. - The company developed several new projects, including a digital retail system and a financial shared platform, enhancing operational capabilities[104]. Investment and Acquisitions - The company made an external equity investment of 23.515 million RMB and sold equity worth 65.8296 million RMB during the reporting period[153]. - The company plans to merge with Chongqing Shansha, which will involve the acquisition of all assets, liabilities, and operations of Chongqing Shansha, with no change in the actual controller[159]. - The company acquired Chongqing Shanshe Group's shopping center for 549.802 million RMB and plans to invest an additional 11.0149 million RMB for renovations to strengthen its market position[188].