SBGCL(SH:600827)2021-04-29 16:00Financial Performance - The company's total revenue for 2020 was CNY 35,209,406,173.20, a decrease of 30.22% compared to CNY 50,458,773,217.78 in 2019[14] - Net profit attributable to shareholders for 2020 was CNY 797,004,982.53, down 16.82% from CNY 958,193,938.74 in 2019[14] - The net profit after deducting non-recurring gains and losses was CNY 374,986,750.61, a significant decrease of 53.54% compared to CNY 807,193,351.15 in 2019[14] - Basic earnings per share for 2020 were CNY 0.45, down 16.67% from CNY 0.54 in 2019[15] - The weighted average return on net assets was 4.36%, a decrease of 1.17 percentage points from 5.53% in 2019[15] - In 2020, the company achieved operating revenue of CNY 35.21 billion, a decrease of 30.22% compared to CNY 50.46 billion in the previous year[27] - The net profit attributable to shareholders was CNY 797 million, down 16.82% from CNY 958 million in the previous year[27] Cash Flow and Assets - The net cash flow from operating activities increased by 69.55% to CNY 4,448,847,645.67 from CNY 2,623,990,327.64 in 2019[14] - The company's total assets at the end of 2020 were CNY 54,145,443,306.58, a decrease of 2.78% from CNY 55,692,773,968.91 at the end of 2019[14] - The net assets attributable to shareholders were CNY 18,283,516,915.44, a slight decrease of 0.08% from CNY 18,298,390,762.25 at the end of 2019[14] - The company's cash and cash equivalents at the end of the reporting period were CNY 2,062,819,605.09[33] - The ending cash and cash equivalents balance increased to CNY 14,104,430,500.74, up from CNY 11,349,667,422.82 in the previous year[146] Revenue Breakdown - The revenue from department stores was CNY 1,914,174,124.61, down 63.44% year-on-year, with a gross margin increase of 7.14 percentage points to 22.14%[29] - The revenue from shopping centers decreased by 74.19% to CNY 1,803,078,903.93, but the gross margin improved by 20.83 percentage points to 41.95%[29] - The revenue from supermarkets increased by 7.02% to CNY 10,266,842,825.78, with a slight gross margin increase of 0.25 percentage points to 19.43%[29] - The company reported a total revenue of CNY 34.09 billion for the year, with self-operated revenue contributing CNY 28.56 billion[21] Market and Operational Strategies - The company plans to continue its market expansion and innovation in retail formats to adapt to changing consumer behaviors[22] - The company actively integrated online and offline resources to enhance its new retail model during the pandemic[22] - The company is exploring new marketing strategies such as live streaming and group buying to enhance sales channels[34] - The company is focusing on digital infrastructure and private domain traffic operations to leverage macroeconomic and industry dividends for growth[34] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.50 per 10 shares, totaling CNY 267,625,217.55[4] - In 2020, the company distributed a cash dividend of CNY 0.10 per share, totaling CNY 178,416,811.70, which was 18.62% of the net profit attributable to shareholders[62] - For the year 2020, the company declared a cash dividend of CNY 1.50 per 10 shares, amounting to CNY 267,625,217.55, representing 33.58% of the net profit attributable to shareholders[63] Investments and Acquisitions - The company acquired a 71% stake in Jinan High-tech for 141.89903 million yuan, gaining substantial control and including it in the consolidated financial report[51] - The company plans to actively pursue mergers and acquisitions to drive effective growth, focusing on fixed asset investments and supply chain partnerships[59] Employee and Management Structure - The company employed a total of 32,409 staff, with 25,169 in sales roles and 716 in technical positions[111] - The company has a salary policy that links employee income growth to corporate performance, ensuring a balance between efficiency and fairness[112] - The training program includes four major modules aimed at talent development, leadership enhancement, performance improvement, and skill enhancement[113] Governance and Compliance - The company adhered to the principles of truthful, accurate, complete, timely, and fair information disclosure throughout the reporting period[115] - The internal control audit report issued by Ernst & Young Huaming Certified Public Accountants confirmed that the internal controls were effective without significant deficiencies[123] - The company has implemented a sound internal control system to protect the rights of minority shareholders[115] Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 12%[105] - Future outlook remains positive with plans for market expansion and new product development initiatives[78] - The company is exploring potential mergers and acquisitions to enhance its market presence and operational capabilities[78]