BUSEN(SZ:002569)2022-04-28 16:00Financial Performance - The company reported a total revenue of 1.2 billion RMB for the year 2021, representing a year-on-year increase of 15%[17]. - The net profit attributable to shareholders was 150 million RMB, a decrease of 10% compared to the previous year[17]. - The company's operating revenue for 2021 was CNY 279,012,085.49, an increase of 9.54% compared to CNY 254,711,115.39 in 2020[23]. - The net profit attributable to shareholders for 2021 was CNY 32,556,654.38, a significant turnaround from a loss of CNY 153,438,591.34 in 2020, representing a 121.22% increase[23]. - The net cash flow from operating activities was negative at CNY -31,852,225.11, worsening by 156.11% from CNY -12,436,782.51 in 2020[23]. - The basic earnings per share for 2021 was CNY 0.23, compared to a loss of CNY -1.09 per share in 2020, marking a 121.10% improvement[23]. - The total assets at the end of 2021 were CNY 382,518,666.52, a decrease of 2.08% from CNY 390,644,553.37 at the end of 2020[23]. - The net assets attributable to shareholders increased by 27.86% to CNY 248,263,647.45 from CNY 194,162,799.53 in 2020[23]. - The company reported a total of CNY 37,362,966.69 in non-recurring gains for 2021, compared to CNY 7,040,349.70 in 2020[28]. Market Expansion and Strategy - The company plans to expand its market presence by increasing the number of retail stores by 20% in 2022[7]. - Future guidance estimates a revenue growth of 10-15% for 2022, driven by new product launches and market expansion[7]. - The company is exploring potential mergers and acquisitions to enhance its supply chain efficiency[7]. - The company aims to enhance its product design and supply chain efficiency to meet the evolving consumer demands, particularly from younger demographics[34]. - The company is actively expanding its new retail business to improve overall sales performance[44]. - The company is focusing on a new retail model that integrates online and offline sales to enhance customer experience and operational efficiency[92]. - The company is exploring market expansion opportunities through strategic partnerships and acquisitions[114]. Online Sales and E-commerce - User data indicates a 25% increase in online sales, contributing to 40% of total revenue in 2021[17]. - Online sales grew by 67.64% to CNY 1,752,546.45, while direct sales decreased by 40.67% to CNY 29,312,695.71[44]. - Online sales revenue increased by 67.64% year-on-year, with a gross margin increase of 25.57% due to the opening of exclusive stores on e-commerce platforms[58]. - The company plans to enhance its online sales platform, aiming for a 30% increase in e-commerce revenue[172]. Research and Development - The company has invested 50 million RMB in research and development for new product lines, focusing on sustainable materials[7]. - The company has allocated 200 million yuan for research and development in innovative textile technologies over the next three years, aiming to improve product quality and reduce production costs[138]. - The company is focusing on developing new products and technologies to drive future growth[112]. Corporate Governance and Compliance - The company adheres to strict governance practices, ensuring transparency and compliance with relevant laws and regulations[102]. - The company has established a robust internal audit system to ensure effective internal controls and operational quality[105]. - The company guarantees that its financial decisions will not be interfered with by actual controllers or shareholders[168]. - The company has not faced any penalties from securities regulatory agencies for its directors, supervisors, and senior management in the past three years[124]. Social Responsibility and Employee Engagement - The company actively engages in social responsibility initiatives, including improving employee living conditions and providing support for employees' children[161]. - The company has implemented a training plan covering various aspects such as basic knowledge, professional skills, and management improvement[145]. - The company has established a comprehensive salary management system, including fixed salary, performance salary, and welfare allowances[144]. Legal and Regulatory Issues - The company has received a warning and a fine of 500,000 RMB from the China Securities Regulatory Commission for information disclosure violations[6]. - The company faced a lawsuit involving Shenzhen Xinrong Wealth Investment Management Co., Ltd. with a disputed amount of 41.53 million CNY, which has not formed a provision for liabilities[194]. - The company has complied with regulatory requirements for rectification following the penalties imposed[200].