YONGHUI SUPERSTORES(SH:601933)2023-04-28 16:00Financial Performance - The company's operating revenue for 2022 was CNY 90.09 billion, a decrease of 1.07% compared to CNY 91.06 billion in 2021[23]. - The net profit attributable to shareholders for 2022 was a loss of CNY 2.76 billion, an improvement of 29.94% from a loss of CNY 3.94 billion in 2021[24]. - The total revenue for the reporting period was CNY 90.09 billion, a decrease of 1.07% compared to the previous year[49]. - The company reported a net profit attributable to shareholders of RMB -1.877 billion in Q4 2022, with a total annual net profit of RMB -3.765 billion[28]. - The company reported a net profit margin of 3.5% for 2022, slightly down from 4% in 2021[187]. - The company reported a total revenue of 19.04 billion yuan for the year 2022, representing a year-on-year increase of 8.5%[187]. Assets and Liabilities - The total assets at the end of 2022 were CNY 62.14 billion, a decrease of 12.86% from CNY 71.31 billion at the end of 2021[24]. - The company's net assets attributable to shareholders decreased by 29.96% to CNY 7.47 billion from CNY 10.66 billion in 2021[24]. - The total assets of the cloud finance segment reached CNY 1.836 billion, with registered customers numbering 5.5 million, and revenue of CNY 149 million, down 63.5% year-on-year[45]. - The company reported a significant increase of 78.84% in cash received from investment recoveries, totaling CNY 1,218,210,833.38[63]. - The company reported a total of 22,362,696 CNY in rental income from its commercial projects[149]. Cash Flow - The net cash flow from operating activities was CNY 5.86 billion, a slight increase of 0.64% from CNY 5.83 billion in 2021[24]. - Cash received from operating activities was CNY 1,386,207,956.81, a decrease of 54.11% compared to the previous year[63]. - The company reported a significant decrease in accounts receivable factoring, down 54.72% to CNY 639,126,680.56, due to the recovery of accounts receivable[67]. Store Operations - In 2022, the company opened 36 new Bravo stores and closed 60, resulting in a total of 1,033 stores across 29 provinces by year-end[34]. - The company opened a total of 1,033 stores nationwide, with 10 self-owned and 1,023 leased properties[70]. - The total number of stores nationwide reached 1,033, covering an area of approximately 8,056,365.61 square meters[72]. - The company plans to enhance core product competitiveness in fresh goods and achieve digital operations by March 31, 2023[37]. Digital Transformation - The company implemented the YHDOS system across all stores by December 31, 2022, enhancing digital management capabilities[37]. - The company aims to achieve digital supply chain management by June 30, 2023, focusing on product lifecycle management and supplier digitalization[37]. - The company is focused on developing its self-operated platform, Yonghui Life, to enhance digital product management capabilities[85]. Revenue Streams - Online business revenue reached RMB 15.936 billion, accounting for 17.69% of total revenue, with a year-on-year growth of 21.37%[35]. - The self-operated "Yonghui Life" home delivery service covered 984 stores, generating sales of RMB 8.8 billion, a 24% increase year-on-year[35]. - The company's own brand sales amounted to RMB 3.27 billion, reflecting a year-on-year growth of 23.40%[38]. - Retail revenue reached CNY 8,412,812.71, a decrease of 0.98% year-over-year, with a gross margin of 14.34%[54]. Research and Development - The company increased R&D expenses by 12.56% to CNY 481.9 million, reflecting a commitment to innovation[51]. - R&D investment totaled CNY 499,251,991.56, accounting for 0.55% of total revenue, with 3.48% of R&D costs capitalized[61]. - The company employed 863 R&D personnel, representing 0.794% of the total workforce[62]. Legal and Compliance Issues - The company has faced significant litigation and arbitration matters during the year, indicating ongoing legal challenges[144]. - The company is currently involved in multiple legal disputes regarding rental agreements, with claims for double return of a performance deposit amounting to 6,000,000 yuan[190]. - The company is actively pursuing legal remedies to address breaches of contract by the defendants in various cases[166]. Management and Governance - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to CNY 23,647,862.47[102]. - The company has a structured remuneration decision process, with the shareholders' meeting responsible for reviewing the remuneration of directors and supervisors[102]. - The management team has emphasized the importance of maintaining operational efficiency to counteract revenue declines[95]. Sustainability and Corporate Responsibility - The company is committed to sustainable practices, aiming for a 50% reduction in carbon emissions by 2030[97]. - The company has not established an environmental protection mechanism, reflecting potential areas for improvement in sustainability practices[128]. - In 2022, the company helped local farmers in Henan solve vegetable oversupply issues by purchasing 166 tons of unsold vegetables, demonstrating its commitment to supporting local agriculture[131]. Future Outlook - The company provided a revenue guidance for 2023, projecting a growth rate of 10% to 15%[187]. - The company plans to allocate 200 million yuan for marketing initiatives to boost brand awareness in 2023[187]. - The company is exploring potential mergers and acquisitions to strengthen its market position, with a focus on local brands[187].