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ST摩登(002656) - 2021 Q4 - 年度财报
MODERN AVENUEMODERN AVENUE(SZ:002656)2023-08-27 16:00

Financial Performance - The company reported a significant decline in revenue, with total revenue for 2021 amounting to RMB 1.2 billion, representing a decrease of 15% compared to the previous year[23]. - The net loss for the year was RMB 200 million, which is a 25% increase in losses compared to 2020[23]. - The company's operating revenue for 2021 was ¥385,225,444.30, a decrease of 24.75% compared to ¥511,949,377.31 in 2020[28]. - The net profit attributable to shareholders was -¥39,483,234.45 in 2021, representing a decline of 639.57% from ¥7,317,530.32 in 2020[28]. - The total revenue for 2021 was approximately ¥385.23 million, a decrease of 24.75% compared to ¥511.95 million in 2020[77]. - The company reported a significant increase in the net profit from operating activities in Q3 2021, reaching ¥35,040,531.97[33]. - The company experienced a decline in non-operating income, with a total of ¥85,500,894.25 in non-recurring gains for 2021, down from ¥245,761,297.41 in 2020[36]. - The company reported a significant reduction in R&D expenses, totaling 6,736,794.95 yuan, down 72.31% from 24,325,798.43 yuan in 2020[90]. - The company experienced a 239.83% increase in foreign exchange losses, amounting to 9,514,270.02 yuan, influenced by currency fluctuations[90]. Revenue and Sales Channels - Future guidance suggests a revenue target of RMB 1.5 billion for 2022, reflecting a growth of 25% year-over-year[23]. - The company is focusing on expanding its online sales channels, with a goal to increase e-commerce sales by 30% in the upcoming year[23]. - Online retail revenue dropped by 41.49% to ¥15.11 million, while offline retail revenue increased by 1.17% to ¥351.94 million[77]. - The revenue from self-owned apparel brands accounted for 63.11% of total revenue, totaling ¥243.11 million, down 9.33% from the previous year[77]. - The company has a full-channel operation capability, selling its own brand products on platforms like Vipshop, Tmall, and a newly added JD flagship store[55]. - The company has established a diversified sales model combining direct and franchise sales, as well as online and offline channels[93]. Product Development and Market Strategy - The company plans to enhance its product offerings by launching three new fashion lines in 2022, aiming for a 10% increase in market share[23]. - The company is focusing on integrating traditional Chinese elements into its designs to enhance brand cultural attributes, which are increasingly favored by consumers[40]. - The CANUDILO brand targets high-net-worth individuals aged 35-50, focusing on high-quality products that blend fashion with Chinese cultural elements, using materials like Xinjiang cotton and silk[46][47]. - The company is focusing on product upgrades, utilizing high-quality materials and innovative fabrics to enhance product functionality and comfort[65]. Operational Challenges and Internal Controls - There are ongoing efforts to improve internal controls following significant lapses in data management at its subsidiary, which the company aims to rectify by Q3 2022[9]. - The company faced operational challenges due to a forced warehouse closure, which impacted online sales and overall performance during key sales events like "Double Eleven"[67]. - The company reported a significant inventory backlog due to unsatisfactory sales performance in the second half of 2021, leading to asset impairment provisions[69]. - The company has implemented measures to enhance internal management efficiency and reduce operational costs, including negotiations for rent reductions[69]. Corporate Governance and Management - The company has established a robust corporate governance structure with checks and balances through its board of directors and supervisory board[148]. - The company has independent decision-making authority and management rights, with no interference from shareholders in personnel decisions[147]. - The company has a diverse management team with backgrounds in software engineering, project management, and finance, enhancing its operational capabilities[156][157][158]. - The company has maintained a stable management team with no changes in senior management personnel during the reporting period[154]. - The company has implemented a performance-based remuneration system for senior management, linking pay to company performance and individual contributions[161]. Employee Management and Training - The total number of employees at the end of the reporting period was 489, with 49 in the parent company and 440 in major subsidiaries[172]. - The employee composition includes 324 sales personnel, 27 technical staff, 27 financial staff, and 95 administrative staff[173]. - The company conducted 7 training sessions for new employees in 2021, covering a total of 84 participants[175]. - The company held two major seasonal training sessions for store staff in 2021, with a total coverage of 240 participants[176]. Legal and Compliance Issues - The company is under investigation by the China Securities Regulatory Commission for alleged information disclosure violations, which may impact its operations[8]. - The company is currently involved in litigation regarding non-operational fund occupation by the controlling shareholder and unauthorized guarantees provided in the company's name[150]. - The company has established independent financial, asset, and operational structures to ensure compliance and avoid conflicts of interest with related parties[196]. Community Engagement and Social Responsibility - The company donated RMB 3 million to support emergency relief and recovery efforts in Henan due to flooding[189]. - The company emphasizes employee rights and has established a fair compensation and performance evaluation system[191].