WFDSJ(SH:601010)2021-04-19 16:00Financial Performance - The company's operating revenue for 2020 was ¥2,349,498,178.25, a decrease of 60.80% compared to ¥5,993,056,081.18 in 2019[22]. - The net profit attributable to shareholders for 2020 was ¥268,266,378.32, down 19.76% from ¥334,343,706.63 in 2019[22]. - The net cash flow from operating activities was ¥554,834,911.84, representing a decline of 23.46% from ¥724,932,520.70 in 2019[22]. - Basic earnings per share for 2020 were ¥0.15, a decrease of 16.67% from ¥0.18 in 2019[23]. - The weighted average return on net assets was 5.58%, down 1.63 percentage points from 7.21% in 2019[24]. - The company's total operating revenue for the year was CNY 5,550,557,507.76, a decrease of 7.38% compared to the previous year[26]. - The main business revenue was CNY 5,258,791,584.55, down 7.46% year-on-year, while the operating cost was CNY 4,418,610,020.72, a decrease of 6.82%[26]. - The company achieved a revenue of 2.35 billion RMB, a year-on-year decrease of 60.80%, primarily due to the implementation of new revenue standards which reduced revenue from joint sales by 3.20 billion RMB[42]. - The net profit attributable to shareholders was 268 million RMB, down 19.76% year-on-year, while the net profit excluding non-recurring gains and losses was 241 million RMB, a decrease of 13.72%[42]. - The company's total revenue decreased by 63.79% year-on-year to CNY 2,057,732,255.04, with a gross profit margin increase of 24.28 percentage points to 40.83%[50]. Assets and Liabilities - The total assets at the end of 2020 were ¥6,741,220,036.81, an increase of 2.19% from ¥6,596,536,915.00 at the end of 2019[22]. - The net assets attributable to shareholders increased to ¥4,873,569,453.30, a growth of 2.14% compared to ¥4,771,454,269.16 in 2019[22]. - The total liabilities amounted to CNY 1,878,555,534.21, slightly up from CNY 1,835,360,929.63, which is an increase of approximately 2.3%[192]. - Owner's equity remained stable at CNY 4,862,664,502.60, compared to CNY 4,761,176,985.37 in the previous year, reflecting an increase of about 2.1%[192]. - Total current assets as of December 31, 2020, amounted to CNY 2,012,477,803.02, an increase from CNY 1,822,077,029.55 in 2019, representing an increase of approximately 10.5%[191]. - Total non-current assets decreased to CNY 4,728,742,233.79 from CNY 4,774,459,885.45, reflecting a decrease of about 1.0%[192]. Operational Highlights - The company executed the new revenue recognition standards starting January 1, 2020, affecting the financial reporting[24]. - The company is focusing on enhancing customer satisfaction and operational efficiency through digital integration and supply chain optimization[38]. - The company is actively promoting online sales through its micro-mall platform, ensuring continuous service during the pandemic[41]. - The company aims to strengthen its market position by integrating various retail formats and enhancing marketing strategies to improve overall competitiveness[39]. - The company has implemented a multi-dimensional evaluation of store performance to eliminate underperforming locations and optimize resource allocation[40]. - The company has established strategic partnerships with major brands for online multi-store collaboration, enhancing its market presence and sales performance[77]. Market and Industry Trends - The retail industry has seen a shift towards online sales models due to the pandemic, indicating a trend towards diversified retail structures[59]. - The retail sector is expected to focus on improving operational efficiency and balancing economic growth with innovation and service quality in the future[94]. - The company’s proactive measures during the pandemic reflect its commitment to social responsibility and community support[128]. - The retail industry is transitioning from traditional sales to a new retail model that integrates online and offline channels, driven by the rise of e-commerce[93]. Shareholder and Governance - The company plans to distribute a cash dividend of ¥1.45 per 10 shares based on a total share capital of 184,800,000 shares[5]. - The company has established a cash dividend policy that prioritizes shareholder returns, which was revised in 2014 and reaffirmed in 2020[100]. - The total remuneration for the board members and senior management during the reporting period amounted to 805.54 million yuan[153]. - The company has a performance-based compensation system for directors and senior management, linked to the completion of annual work goals and operational plans[159]. - The company has seen significant changes in its management team, with several key positions held by individuals with extensive experience in various sectors[153]. Social Responsibility and Community Support - The company donated 10 million yuan to the Nantong Charity Federation for a pandemic special fund, with 5 million yuan allocated for medical equipment procurement in Hubei[129]. - The company provided 120,000 N95 masks to employees and implemented strict health monitoring measures during the pandemic[128]. - The company ensured a safe shopping environment by conducting regular disinfection and temperature checks at store entrances[128]. - The company supported suppliers by offering fee reductions and early payment policies to alleviate their financial difficulties[129]. - The company actively responded to consumer demand for disinfectant products by creating a dedicated section on its online platform[129]. Future Strategies - The company plans to adopt a dual strategy of heavy and light assets to drive growth, focusing on self-built, acquisition, and brand output models[96]. - In 2021, the company aims to enhance operational capabilities through a "five-step method" to improve performance across all business formats[97]. - The company will introduce new internet technologies to achieve digital transformation, including upgrading the CRM system for efficient member management[98]. - The company plans to continue expanding its member benefits and marketing strategies to attract younger consumers and increase sales performance[74].