TONGCHENG(SZ:000419)2023-04-07 16:00Financial Performance - The company's operating revenue for 2022 was ¥1,985,326,638.27, a decrease of 7.85% compared to ¥2,154,385,212.34 in 2021[21] - The net profit attributable to shareholders for 2022 was ¥145,750,680.72, representing a growth of 5.26% from ¥138,470,858.40 in 2021[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥91,821,414.88, down 18.93% from ¥113,257,413.19 in 2021[21] - The net cash flow from operating activities was ¥27,990,172.27, a significant decline of 91.83% compared to ¥342,392,421.94 in 2021[21] - The basic earnings per share for 2022 was ¥0.2681, an increase of 5.26% from ¥0.2547 in 2021[21] - Total assets at the end of 2022 were ¥5,231,467,869.21, a decrease of 9.72% from ¥5,794,738,074.67 at the end of 2021[21] - The net assets attributable to shareholders at the end of 2022 were ¥3,047,525,200.02, a slight increase of 0.82% from ¥3,022,721,564.91 at the end of 2021[21] - The weighted average return on equity for 2022 was 4.80%, up from 4.62% in 2021[21] Market Conditions - The overall retail revenue in China decreased by 0.2% in 2022, highlighting the challenging market conditions faced by the industry[32] - The retail market in Hunan province showed a retail sales growth of 2.4% in 2022, which is 2.6 percentage points higher than the national average, indicating a relatively stronger local market performance[32] - The company has maintained a stable operational situation despite market challenges, emphasizing risk control and innovation to enhance quality[32] Business Strategy - The company operates a diversified business model including commercial retail, comprehensive investment, and hotel management, with a focus on customer-centric services[34] - The company plans to continue optimizing its business structure and enhancing digital integration to strengthen its market position[33] - The company aims to enhance its market adaptability and sustainable development through continuous management transformation and operational innovation[43] - The company plans to expand its product categories from 9 to 33, focusing on market trends and customer needs[83] - The company will implement a dual-channel operation model, transitioning from a single physical store model to an online and offline integrated approach[82] Operational Adjustments - The company closed three department stores in 2022 due to operational adjustments, with a total area of 7.76 million square meters[37] - The company plans to renew leases for several stores expiring in 2023, including the Shaoyang Plaza store and the Jiulong store[38] - The company has implemented a risk management strategy that resulted in zero major risk incidents during the reporting period[46] Corporate Governance - The company maintains independence from its controlling shareholder, with no direct or indirect interference in decision-making or operations during the reporting period[92] - The board of directors consists of 9 members, including 3 independent directors, ensuring a reasonable professional and age composition[93] - The supervisory board, comprising 5 members with expertise in management, finance, and law, effectively supervised the company's operations and financial status during the reporting period[93] - The company has established a robust information disclosure system, adhering to regulations and maintaining transparency without any significant violations during the reporting period[94] Employee and Management Structure - The total number of employees at the end of the reporting period was 1,445, with 780 in the parent company and 665 in major subsidiaries[119] - The employee composition includes 365 production staff, 662 sales personnel, and 171 technical staff, reflecting a diverse workforce[120] - The educational background of employees shows that 211 hold a bachelor's degree or higher, while 769 have a high school education or below[120] Risk Management - The company recognizes macroeconomic risks, including inflation and uncertain economic growth, which may impact consumer confidence and spending[88] - The company faces industry risks from intensified competition and rising operational costs, necessitating innovative business models[88] Future Outlook - The company aims for a total revenue growth of 8%-12% and a profit growth of 5%-10% in 2023[80] - The company plans to reduce idle property area by over 40%[80] - The company aims to achieve a zero accident rate in safety, compliance, and integrity across its operations[79] Financial Health - The company's cash flow from financing activities resulted in a net outflow of ¥323,148,226.01, a decrease of 12.53% compared to the previous year's outflow of ¥287,178,895.51, attributed to reduced bank borrowings and dividend payments[60][61] - The company's fixed assets at the end of 2022 were valued at ¥934,283,213.70, representing 17.86% of total assets, a slight increase from 16.93% in 2021[66] - The company reported a significant amount of other equity instrument investments at CNY 1,193,048,092.29, compared to CNY 1,238,346,520.04, reflecting a decrease of about 3.7%[200] Social Responsibility - The company actively participated in social responsibility initiatives, providing emergency services and donations during the COVID-19 pandemic[136] - The company implemented a "new retail model" combined with "financial poverty alleviation" to enhance the quality of targeted assistance in rural areas[136] - The company established a long-term mechanism for poverty alleviation, focusing on employment, e-commerce, and talent training[137]