Peacebird(SH:603877)2021-03-29 16:00Financial Performance - The company's revenue increased by 18.4% to CNY 9.39 billion, and net profit grew by 29.2% to CNY 710 million, both reaching historical highs[6]. - The company's operating revenue for 2020 was CNY 938,686.52 million, an increase of 18.41% compared to 2019[32]. - The net profit attributable to shareholders for 2020 was CNY 71,280.71 million, representing a year-on-year growth of 29.24%[32]. - The basic earnings per share for 2020 was CNY 1.51, up 29.06% from CNY 1.17 in 2019[33]. - The cash flow from operating activities for 2020 was CNY 115,436.03 million, an increase of 32.92% compared to 2019[32]. - The total assets at the end of 2020 were CNY 854,136.11 million, a 21.76% increase from the end of 2019[32]. - The company reported a weighted average return on equity of 19.38% for 2020, an increase of 3.21 percentage points from 2019[33]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 560 million yuan, representing a year-on-year growth of 59.1%[68]. - The total operating revenue for the period was 9.39 billion RMB, an increase of 18.41% compared to the previous year[83]. E-commerce and Retail Strategy - E-commerce revenue accounted for over 30% of total revenue, marking a new high for the company[9]. - Retail sales reached CNY 12.8 billion, with the women's wear brand achieving annual retail sales exceeding CNY 5 billion[7]. - The company has maintained a strong growth trajectory in e-commerce channels, contributing to overall profitability improvements[32]. - The online retail sales of physical goods grew by 14.8% in 2020, accounting for 24.9% of total retail sales of consumer goods[58]. - Online channel revenue reached 2.8 billion RMB, a year-on-year growth of 21%, accounting for over 30% of total revenue[77]. - The company is actively exploring new retail channels, including social retail through platforms like Weibo and Douyin, to enhance consumer engagement[54]. - The company plans to open 1,000 new stores in 2021 while enhancing its online sales capabilities across various platforms[9]. Digital Transformation and Innovation - A total of CNY 720 million will be invested in digital transformation projects, aiming to transition into a "technology fashion company"[11]. - The company will continue to focus on consumer-centric strategies and digital transformation, with a commitment to "fashion focus, data-driven, and all-channel retail" in 2021[9]. - The company has focused on digital retail innovation and data-driven product development to enhance customer value[51]. - The company emphasized the importance of consumer connection and loyalty through its digital transformation efforts[79]. - The company initiated a digital transformation project aimed at enhancing operational efficiency and consumer engagement[78]. - The company plans to continue focusing on enhancing its product management and leveraging big data for precision design[116]. - The company will accelerate digital transformation projects to improve design accuracy and marketing precision[122]. Inventory and Supply Chain Management - The company focused on a data-driven supply chain transformation, enhancing efficiency in design, production, and marketing[62]. - The company has established a new SCM supplier management system to improve production efficiency and responsiveness[55]. - The company's inventory net value at the end of the period was 2,256.58 million RMB, an increase of 401.89 million RMB, representing a growth of 21.67%[106]. - Inventory turnover days decreased to 166 days, down by 13 days from the previous year, due to enhanced product management capabilities[106]. - The total cost for apparel operations was 426,666.90 million RMB, accounting for 98.92% of total costs, an increase of 17.47% compared to the previous year[90]. Shareholder Returns and Dividends - The cash dividend proposed is CNY 8 per 10 shares, totaling CNY 376.96 million (including tax)[14]. - The company has a cash dividend policy to distribute at least 20% of the annual distributable profit in cash, subject to certain conditions[131][132]. - The company proposed a cash dividend distribution plan for 2019, distributing 7 RMB per 10 shares, totaling 329,841,377.60 RMB, which represents 71.35% of the distributable profit for the year[133]. - In 2020, the company did not distribute any cash dividends, while in 2019, the cash dividend amounted to 39,353.41 million RMB, accounting for 71.35% of the net profit attributable to ordinary shareholders[135]. - The company’s profit distribution policy aligns with its commitment to return value to shareholders while maintaining sufficient retained earnings for future growth[133]. Corporate Governance and Compliance - The company has a commitment to not transfer or entrust shares held by major shareholders for a period of 36 months post-listing, ensuring stability in shareholding[138]. - The company’s major shareholders are restricted from reducing their holdings in the first year after the lock-up period, promoting long-term investment confidence[139]. - The company commits to fulfilling the promises made in the prospectus and will publicly explain any failures to do so[142]. - Shareholders and management will strictly adhere to the commitments disclosed in the prospectus, with penalties for non-compliance[142]. - The company has no major litigation or arbitration matters in the current year[148]. - The company has no significant changes in its employee incentive plans or stock repurchase plans[149]. Social Responsibility and Community Engagement - The company has donated a total of 26 million yuan in materials to impoverished schools in Guizhou, focusing on education poverty alleviation[172]. - During the pandemic, the company donated 12 million yuan to support local efforts against COVID-19 and established a reward fund for outstanding medical staff[172]. - The company supports various charitable initiatives, including the "New Seedling Guardian Program" in Ningbo[172]. - The company has established the "Taiping Bird Excellent Medical Staff Reward Fund" to honor outstanding healthcare workers[172]. - The company has actively engaged in social responsibility initiatives, including disaster relief and educational support[172]. Wealth Management and Investments - The company has invested a total of 588,945,000 RMB in bank wealth management products, with an outstanding balance of 186,200,000 RMB and no overdue amounts[159]. - The company maintains a diversified portfolio of wealth management products across different banks, ensuring a range of return rates and liquidity options[161]. - The company’s wealth management strategy includes both principal-protected and non-principal-protected products, allowing for flexibility in risk management[163]. - The company has a significant amount of wealth management investments that remain unredeemed, indicating a strategy focused on long-term returns[163]. Shareholder Structure and Management - The largest shareholder, Taiping Bird Group Co., Ltd., holds 229,362,000 shares, accounting for 48.11% of total shares, with 28,000,000 shares pledged[188]. - The company has a total of 10 major shareholders, with the top five holding over 86% of the shares[188]. - The actual controllers of the company are Zhang Jiangping and Zhang Jiangbo, who are related by blood[192]. - The total number of ordinary shareholders increased from 6,614 to 6,978 during the reporting period[186]. - The total pre-tax remuneration received by the board members during the reporting period amounted to 3,635.61 million yuan[200].