YIMIN GROUP(SH:600824)2022-04-25 16:00Financial Performance - The company's total revenue for 2021 was CNY 999,088,622.64, a decrease of 1.18% compared to CNY 1,011,051,652.75 in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 92,338,844.59, representing a significant decline of 47.37% from CNY 175,444,203.41 in 2020[22]. - The net cash flow from operating activities decreased by 30.14% to CNY 214,891,605.53 in 2021 from CNY 307,602,103.54 in 2020[22]. - The basic earnings per share for 2021 was CNY 0.088, down 46.99% from CNY 0.166 in 2020[23]. - The weighted average return on equity decreased to 3.49% in 2021, down 3.39 percentage points from 6.88% in 2020[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -46,730,482.62, a decline of 864.59% compared to CNY 6,111,811.43 in 2020[24]. - The company reported a net profit attributable to shareholders of CNY -3.38 million in Q4, indicating a challenging end to the fiscal year[26]. - The company's total operating revenue for the reporting period was CNY 999,088,622.64, a decrease of 1.18% compared to CNY 1,011,051,652.75 in the previous year[50]. - The company reported a significant increase in financial expenses by 54.33% to RMB 18,948,421.15, attributed to the implementation of new leasing standards[66]. Cash Flow and Investments - The company reported a net cash flow from operating activities of CNY 214,891,605.53, down 30.14% from CNY 307,602,103.54 in the previous year[50]. - The company's investment activities generated a net cash flow of CNY 224,180,616.90, a significant increase of 660.26% compared to the previous year[50]. - The net cash flow from investing activities increased significantly by 660.26% to RMB 224,180,616.90, mainly due to the recovery of investments and compensation received[72]. - The company has invested RMB 102 million in non-principal guaranteed floating income short-term financial products, with no overdue amounts[168]. - The company reported a total expected return of RMB 1,000,000 from various financial management products, with all returns fully realized[170]. Inventory and Cost Management - The total inventory balance at the end of the reporting period is RMB 391,379,199.45, with inventory goods accounting for RMB 345,225,502.36, and lingerie and gold jewelry making up 92.45% of the inventory goods[62][63]. - The cost of lingerie products is RMB 171,592,292.08, representing 33.13% of total costs, while the cost of gold jewelry is RMB 256,299,868.72, accounting for 49.48% of total costs, showing a year-on-year decrease of 15.54% due to reduced sales[61]. - The total cost of goods sold in the commercial retail and wholesale sector was 333.72 million RMB, a decrease of 12.49% from the previous year's 381.35 million RMB, mainly due to reduced gold sales[60]. Business Strategy and Development - The company is actively pursuing brand development through online and offline integration, including the adoption of a "cloud" ordering model and exploring new sales channels such as live streaming and social media[36]. - The company has introduced new functional products that combine fashion and technology, responding to market demands and enhancing brand visibility through various marketing strategies[36]. - The company is focused on the development of new business projects, including the renovation of the freshwater road elderly care project and the promotion of traditional brands to expand their influence[40]. - The company aims to enhance brand transformation by upgrading online marketing models and improving supply chain flexibility[91]. - The company plans to attract high-quality brands to the Huaihai Road commercial area, focusing on flagship stores and enhancing property management standards[92]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective operation of the board of directors and supervisory board[99]. - The company has maintained compliance with regulatory requirements, with no penalties from securities regulatory agencies in the past three years[116]. - The company has developed a transparent performance evaluation and incentive mechanism for its directors and senior management, ensuring compliance with legal regulations[101]. - The company has implemented a comprehensive internal control system to effectively prevent various risks, ensuring safe operations without incidents[94]. Shareholder and Dividend Information - The cash dividend proposal for 2021 is set at 0.27 CNY per 10 shares, totaling 28,458,730.97 CNY, which represents 30.82% of the net profit attributable to shareholders[128]. - The cash dividend for 2020 was 0.50 CNY per 10 shares, amounting to 52,701,353.65 CNY, accounting for 30.04% of the net profit attributable to shareholders[127]. - The company has engaged with small and medium-sized investors to gather opinions and suggestions regarding dividend distribution[127]. Market and Economic Environment - The retail industry is highly competitive, with significant pressure from e-commerce channels, which have drastically changed consumer purchasing habits and affected traditional store sales[95]. - The company faces risks related to the economic environment affecting consumer behavior, particularly in retail and property leasing, due to the impact of the COVID-19 pandemic on small and micro enterprises[95]. - In 2021, the total retail sales of consumer goods in China increased by 12.5% compared to the previous year, indicating a steady recovery in the market[86]. Employee and Training Initiatives - The total number of employees in the parent company is 59, while the main subsidiaries employ 485, resulting in a total of 544 employees[123]. - The company organized training for over 3,000 participants in 2021, focusing on enhancing professional skills and management capabilities[125]. - The company has established a performance-based compensation policy, emphasizing data and key results for employee evaluations[124]. Legal Matters - The company has not faced any delisting risk or bankruptcy restructuring issues[152]. - There were no major litigation or arbitration matters reported for the year[154]. - The company has filed a lawsuit against Lishuo (Shanghai) Real Estate Co., demanding overdue rent payments totaling RMB 25.588 million[158].