YIMIN GROUP(SH:600824)2023-04-24 16:00Financial Performance - The net profit attributable to shareholders of the listed company for 2022 was -299,947,899.15 RMB, representing a decrease of 424.83% compared to the previous year[5]. - Operating revenue for 2022 was 799,416,030.77 RMB, a decline of 19.99% from 999,088,622.64 RMB in 2021[21]. - The net cash flow from operating activities decreased by 70.63%, amounting to 63,106,173.67 RMB compared to 214,891,605.53 RMB in 2021[21]. - Basic earnings per share for 2022 were -0.285 RMB, a decrease of 423.86% from 0.088 RMB in 2021[22]. - The total assets at the end of 2022 were 3,213,560,106.96 RMB, down 9.90% from 3,566,615,117.70 RMB in 2021[21]. - The weighted average return on net assets for 2022 was -12.01%, a decrease of 15.50 percentage points from 3.49% in 2021[22]. - The net profit after deducting non-recurring gains and losses was -97,320,798.73 RMB, compared to -46,730,482.62 RMB in 2021[21]. - The company did not distribute profits or increase capital from reserves for the 2022 fiscal year[5]. - The decline in net profit was primarily due to a decrease in the fair value of other non-current financial assets[23]. - Revenue from retail and leasing sectors saw significant declines, contributing to the overall decrease in operating income[23]. Operational Changes and Strategies - The company is actively implementing brand transformation and optimizing its main business structure to adapt to market changes[32]. - The company is focusing on inventory reduction and cost control measures to enhance sales performance[33]. - The company is enhancing its product lines by introducing new materials and targeting different customer segments[34]. - The company is expanding its online business and integrating promotional strategies to improve store efficiency[34]. - The company is developing a second-hand luxury goods trading platform to diversify its product offerings[37]. - The company is enhancing its service quality in the Jinchen brand, focusing on health care and support during the pandemic[37]. - The company is actively pursuing brand partnerships and channel development as part of its innovation strategy[39]. - The company has implemented a rental reduction policy to support tenants during the economic recovery phase[38]. - The company is focusing on enhancing internal controls and risk management as part of its "Star Project" initiative[40]. - The company is focusing on brand transformation, pandemic relief, and structural optimization to navigate the challenging economic environment[50]. Market and Economic Context - The average disposable income per capita in China increased by 5.0% in 2022, reaching CNY 36,883, while per capita consumption expenditure grew by 1.8%[42]. - The total retail sales of consumer goods in 2022 was 439,733 billion, a decrease of 0.2% compared to the previous year[79]. - The online retail sales of physical goods accounted for 27.2% of total retail sales, an increase of 2.7 percentage points year-on-year[96]. - The company anticipates risks related to economic conditions affecting consumer behavior, particularly in the retail and property leasing sectors[106]. - The company faces intense competition in the retail market, with a significant impact from the growth of e-commerce on traditional sales channels[106]. Governance and Management - The company held 3 shareholder meetings during the reporting period, ensuring all shareholders, especially minority shareholders, could fully exercise their voting rights[110]. - The board of directors held 7 meetings in 2022, adhering to relevant regulations and ensuring responsible participation from all directors[111]. - The supervisory board convened 6 meetings in 2022, with all meetings conducted in compliance with regulations[112]. - The company has established a transparent performance evaluation and incentive mechanism for its directors and senior management[112]. - The company has implemented a comprehensive information disclosure system, ensuring timely and accurate information dissemination to all shareholders[112]. - The company experienced a change in leadership with Chen Hongzhi resigning as chairman on November 11, 2022[120]. - The current chairman, Zhang Min, began her term on December 1, 2022, and will serve until June 29, 2024[118]. - The company is focused on expanding its market presence and enhancing its governance structure through experienced leadership[120]. - The company aims to strengthen its operational efficiency and strategic direction under the new leadership[120]. Employee and Training Initiatives - The number of employees in the parent company is 53, while the total number of employees in major subsidiaries is 433, resulting in a combined total of 486 employees[132]. - The company organized training for over 2,000 employees to enhance professional skills in 2022[134]. Legal and Compliance Matters - The company has not faced any penalties from securities regulatory authorities in the past three years[125]. - The company has not faced any delisting risks or bankruptcy restructuring issues, reflecting a solid operational status[157]. - The company has not disclosed any temporary announcements regarding litigation or arbitration with ongoing developments, indicating no new significant legal challenges[158]. - The company has initiated legal proceedings against Lishuo (Shanghai) Real Estate Co., demanding overdue rental payments totaling RMB 25.588 million[165]. Financial Management and Investments - The company has entrusted a total of 106,900,000 RMB in bank wealth management, with no overdue amounts[175]. - The annualized return rates for various entrusted wealth management products range from 2.64% to 4.94%[176]. - The company has not made any significant changes to its major contracts or guarantees during the reporting period[177]. - The company has not engaged in any entrusted loans or related activities during the reporting period[177]. Social Responsibility and Community Engagement - Total donations and public welfare projects amounted to 2.215 million CNY in 2022[145]. - The company invested 900,000 CNY in poverty alleviation and rural revitalization projects in 2022[145]. - The company provided 400,000 CNY in aid to four paired villages in Yunnan Province[145]. - A total of 500,000 CNY was donated to support two village committees in Chongming District[145].