Marubi(603983)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was RMB 1,787,028,564.22, representing a year-on-year increase of 2.41% compared to RMB 1,744,989,060.09 in 2020[23]. - Net profit attributable to shareholders decreased by 46.61% to RMB 247,921,313.25 in 2021 from RMB 464,399,184.10 in 2020[25]. - The basic earnings per share (EPS) fell by 46.55% to RMB 0.62 in 2021, down from RMB 1.16 in 2020[25]. - The net cash flow from operating activities showed a significant decline of 102.06%, resulting in a negative cash flow of RMB -7,480,531.05 in 2021 compared to RMB 362,345,691.31 in 2020[25]. - The company's total assets decreased by 0.88% to RMB 3,761,645,909.30 at the end of 2021, down from RMB 3,795,081,810.34 at the end of 2020[23]. - The weighted average return on equity (ROE) dropped by 8.37 percentage points to 8.15% in 2021 from 16.52% in 2020[25]. - The company reported a net profit of RMB 100,127,604.69 in Q1 2021, with a notable decline in Q3 showing a loss of RMB -47,145,694.92[29]. - Non-recurring gains and losses totaled RMB 68,966,817.35 in 2021, compared to RMB 60,483,002.98 in 2020[31]. Dividend Policy - The company plans to distribute a cash dividend of 1.90 RMB per 10 shares (including tax) to all shareholders registered on the dividend distribution date[7]. - The company aims to enhance employee benefits by adjusting salary levels based on local market conditions and company performance[162]. - The company’s profit distribution policy emphasizes sustainable development while ensuring reasonable returns to investors[166]. - The company plans to prioritize cash dividends in profit distribution, with a cumulative distribution of at least 30% of the average annual distributable profits over the last three years[167]. Research and Development - The company invested 50.49 million yuan in R&D, reflecting a commitment to innovation and product quality[38]. - A total of 104 new patents were applied for, including 90 invention patents, demonstrating the company's focus on research and development[43]. - The company is focusing on expanding its production capabilities and enhancing its research and development in bioactive materials for applications in cosmetics and future medical devices[102]. - The number of R&D personnel was 97, making up 8.10% of the total workforce[79]. Marketing and Sales - The company achieved online revenue of 1.028 billion yuan, accounting for 59.54% of total revenue, with a year-on-year growth of 8.17%[51]. - The company’s digital initiatives improved member registration rates from 75% to 93%, enhancing user engagement and operational efficiency[48]. - The company covered over 80 cities with elevator advertising, achieving an exposure of 19.8 billion people, and cinema advertising reached 130 million exposures[49]. - The company conducted approximately 1,800 member salon meetings, covering nearly 50,000 members, and over 7,000 new product experience meetings, reaching around 60,000 members[51]. Governance and Compliance - The company has received a standard unqualified audit report from Huaxing Accounting Firm[6]. - The company has established a robust governance structure, ensuring compliance with relevant laws and regulations, and maintaining independence from its controlling shareholders[129]. - The board of directors has held 8 meetings with 100% attendance, demonstrating commitment to effective governance and decision-making[133]. - The company has a structured decision-making process for determining the remuneration of directors and senior management, involving the remuneration and assessment committee[148]. Operational Efficiency - The company upgraded its channel management system and cloud warehouse, enhancing management efficiency and providing real-time data visualization for supply chain processes[52]. - The company has implemented strict production process controls in accordance with GMPC and ISO standards to ensure product safety and effectiveness[99]. - The company has a green manufacturing initiative, having been recognized as a "Green Factory" in Guangzhou, promoting energy efficiency and resource recycling[183]. - The company has established a green factory committee to oversee environmental management and ensure compliance with eco-friendly practices[183]. Market Position and Strategy - The company’s main brand "MARUBI" is recognized as a leading brand in the domestic cosmetics market, particularly in the anti-aging category[93]. - The company continues to rely on a distribution model that leverages distributors' networks to enhance market penetration, while managing risks associated with distributor performance[122]. - The cosmetics industry is undergoing channel structural changes, prompting the company to strengthen existing advantages while exploring new channels[123]. - The company adheres to a "long-termism strategy" focusing on "technology-driven beauty and health," with four strategic pillars: user-centricity, excellent products, market precision, and refined operations[117].