WFDSJ(SH:601010)2023-04-28 16:00Financial Performance - In 2022, the company's operating revenue was approximately CNY 2.39 billion, a decrease of 3.29% compared to CNY 2.47 billion in 2021[22]. - The net profit attributable to shareholders of the listed company for 2022 was a loss of approximately CNY 161.96 million, a decline of 168.46% from a profit of CNY 236.56 million in 2021[22]. - The company's total assets at the end of 2022 were approximately CNY 6.65 billion, down 9.80% from CNY 7.37 billion at the end of 2021[22]. - The net assets attributable to shareholders of the listed company decreased to approximately CNY 4.37 billion, a reduction of 8.97% from CNY 4.80 billion in 2021[22]. - Basic earnings per share for 2022 were -CNY 0.09, a decrease of 169.23% compared to CNY 0.13 in 2021[23]. - The company reported a significant impact on net profit due to losses from a private equity fund investment, amounting to a negative effect of CNY 201.63 million[24]. - The company did not propose any cash dividends or stock dividends for 2022 due to the negative net profit[5]. - The weighted average return on net assets was -3.54% for 2022, a decrease of 8.42 percentage points from 4.88% in 2021[24]. - The company’s revenue from core business activities was approximately CNY 2.06 billion, down 2.98% from CNY 2.13 billion in 2021[22]. - The company achieved a cash flow from operating activities of 328.15 million RMB in Q3, significantly recovering from a negative cash flow of 29.98 million RMB in Q2[9]. Revenue Breakdown - In 2022, the company reported a total revenue of approximately 2.39 billion RMB, with quarterly revenues of 698.81 million RMB in Q1, 540.43 million RMB in Q2, 580.79 million RMB in Q3, and 572.58 million RMB in Q4[9]. - The revenue from the department store segment was CNY 892 million, down 14.21% year-on-year, with a gross margin of 68.35%[47]. - The supermarket segment generated revenue of CNY 556 million, down 12.77% year-on-year, with a gross margin of 16.23%[47]. - The electrical appliance segment saw revenue of CNY 581 million, an increase of 44.57% year-on-year, but with a gross margin of only 10.21%[47]. - The company reported a decline in revenue across most segments compared to 2021, with department store revenue decreasing by 11,694.87 million RMB and supermarket revenue decreasing by 16,664.77 million RMB[70]. Operational Adjustments - The company launched the "Wenfeng Cloud Purchase" mini-program in November 2022, aimed at enhancing digital operations and integrating online and offline business models[35]. - The company implemented a series of adjustments to enhance online retail competitiveness, including the establishment of a new digital center and the optimization of its online shopping platform[31]. - The company focused on supply chain optimization and introduced new products to meet market demand, particularly in the supermarket segment, which saw significant online sales growth[33]. - The company maintained its market position despite overall performance decline, with efforts to support suppliers through rent reductions and financial assistance[32]. - The shopping center segment achieved a reverse growth in rental efficiency, emphasizing the importance of innovative customer experiences and event-driven marketing strategies[34]. Membership and Customer Engagement - Membership increased to 1.4725 million by the end of 2022, a year-on-year increase of 167,600 members, while effective members decreased by 35,100 to 507,600[75]. - The company achieved a total of 3.389 billion RMB in sales through members, a decline of 16.14% year-on-year, with member sales accounting for 67.51% of total sales, an increase of 0.7%[75]. - The company engaged in various promotional activities, including the "Nantong Summer Shopping Festival" and "Wenfeng 11.11 Shopping Festival," to boost sales and consumer confidence[76]. Investment and Financial Strategy - The company invested approximately RMB 500 million in Tianfeng Securities, acquiring 122,249,388 shares at a price of RMB 4.09 per share, and subsequently sold all shares by the end of 2022, incurring an investment loss of RMB 91.87 million[83]. - The company subscribed to a private equity fund with an investment of RMB 200 million, which reported a fair value loss of RMB 201.63 million due to significant debt defaults by the issuer[84]. - The company has invested CNY 2,554,650,000 in bank wealth management products, with an outstanding balance of CNY 300,371,800.41[175]. - The company has also invested CNY 109,978,000 in other financial products, with an outstanding balance of CNY 300,000,000[175]. Governance and Management Changes - The company appointed Wang Yue as the new General Manager on September 5, 2022, following the resignation of Miao Zhe[117]. - The company reported a significant leadership change with the resignation of several key executives, including the Vice General Manager Zhu Huayun on September 9, 2022[117]. - The company has a diverse leadership team with members holding multiple positions across various subsidiaries, enhancing operational synergy[118]. - The company has been actively involved in the appointment and resignation of board members and executives, indicating a dynamic management structure[119]. - The company’s leadership transitions are aimed at strengthening its operational effectiveness and strategic direction[119]. Risk Management and Compliance - The company has identified one significant internal control deficiency related to non-financial reporting, which will be addressed[133]. - The company has established a risk disposal team led by the legal department to protect investment assets and maintain shareholder interests following the fund's losses[146]. - The company has revised and improved internal control systems, including the "Entrusted Financial Management System" and "Securities Investment and Derivative Trading Management System" to enhance risk control capabilities[146]. - The company has not faced any penalties from securities regulatory authorities in the past three years[124]. Social Responsibility and Environmental Initiatives - The company invested a total of 534.02 million yuan in poverty alleviation and rural revitalization projects, including 523.76 million yuan for purchasing "Youmi" blueberry series liquor from Guizhou Province[155]. - The company contributed 15.08 million yuan to social responsibility initiatives, with 4.20 million yuan in cash donations and 10.88 million yuan in material donations[154]. - The company supports water-saving environmental projects, such as promoting low-water-use crops in Inner Mongolia, demonstrating its commitment to environmental responsibility[153]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 94,746, an increase from 94,258 at the end of the previous month[183]. - The largest shareholder, Jiangsu Wenfeng Group Co., Ltd., holds 544,724,567 shares, accounting for 29.48% of the total share capital[185]. - The company repurchased 24,642,935 shares, which is 1.33% of the total share capital, through a dedicated securities account[186]. - The actual controller of the company is Xue Jian, who is also the largest shareholder of Jiangsu Wenfeng Group[194].