BIEM(SZ:002832)2022-04-15 16:00Financial Performance - The company's operating revenue for 2021 was ¥2,719,989,257.14, representing an increase of 18.09% compared to 2020[12]. - The net profit attributable to shareholders for 2021 was ¥624,541,483.00, a growth of 25.20% year-over-year[12]. - The net profit after deducting non-recurring gains and losses was ¥580,283,266.50, up 25.26% from the previous year[12]. - The net cash flow from operating activities reached ¥897,523,638.07, marking a significant increase of 40.93% compared to 2020[12]. - The total assets at the end of 2021 amounted to ¥4,862,956,852.42, a 29.73% increase from the end of 2020[13]. - The net assets attributable to shareholders were ¥3,245,441,596.49, reflecting a growth of 34.29% year-over-year[13]. - The company reported a basic earnings per share of ¥1.15, which is a 21.05% increase from ¥0.95 in 2020[12]. - The company's total revenue for 2021 reached 2.72 billion yuan, representing a year-on-year growth of 18.09%[38]. - The net profit attributable to shareholders for 2021 was 625 million yuan, showing a year-on-year increase of 25.20%[38]. - The total operating revenue for the year 2021 reached ¥2,719,989,257.14, representing an 18.09% increase compared to ¥2,303,326,211.84 in 2020[63]. Market Position and Strategy - The company's T-shirt product line has maintained the highest market share in its category for four consecutive years (2018-2021) and will implement a "category-leading" strategy starting in 2022[39]. - The golf apparel segment has achieved a market share of 62.87% in 2021, also ranking first in its category for five consecutive years (2017-2021)[40]. - The brand focuses on high-end fashion sportswear, emphasizing quality, technology, and innovation in its product design[26]. - The company is expanding its product lines, including collaborations with popular IPs like Snoopy and Doraemon for its Venice Carnival brand[33]. - The company employs a "dumbbell" business model, focusing on high-value activities such as product design and brand management while outsourcing lower-value production[34]. - The company is actively enhancing its digital retail channels, including flagship stores on platforms like Tmall and JD, and utilizing live streaming and social media for marketing[36]. - The brand is positioned to capitalize on the growing preference for domestic products among younger consumers, with 70% of post-90s and nearly 80% of post-00s consumers favoring domestic brands[24]. - The company has a total of 1,100 retail stores as of December 31, 2021, an increase of 121 stores from the end of 2020[45]. - The company has renewed its sponsorship with the Chinese national golf team for another eight years, continuing to provide professional training and competition apparel[41]. Research and Development - The company continues to invest in R&D, focusing on innovative materials and design to maintain its competitive edge[50]. - The company holds a total of 107 patents, including 6 invention patents, 69 utility model patents, and 32 design patents[43]. - Research and development investment amounted to ¥83,388,128.67 in 2021, representing 3.07% of operating revenue, up from 2.81% in 2020[95]. - The number of R&D personnel increased by 9.63% from 187 in 2020 to 205 in 2021[94]. - The company will continue to increase R&D investment, focusing on new materials and fabric innovation to enhance product competitiveness and brand value[121]. Corporate Governance - The company has a comprehensive governance structure in place, as detailed in its corporate governance section[4]. - The company has maintained a stable management structure, with key personnel remaining in their roles to ensure continuity[145]. - The company has established a complete and independent business system, ensuring independence from the controlling shareholder in terms of operations, personnel, assets, and finance[134]. - The company respects and protects the rights of all stakeholders, including shareholders, employees, suppliers, and customers, promoting balanced interests[132]. - The company has implemented a transparent information disclosure system, ensuring timely and accurate communication with all shareholders[133]. - The board of directors and supervisory board operate in compliance with the Company Law and the company's articles of association, ensuring effective governance[136]. - The company has appointed new independent directors, indicating a strategic refresh in leadership[142]. - The independent directors bring diverse expertise, which may contribute to better decision-making and strategic direction for the company[144]. Social Responsibility - The company engaged in charitable activities, providing substantial aid during natural disasters, showcasing its social responsibility[62]. - In response to severe flooding in Shanxi Province in October 2021, the company donated over 10 million yuan worth of winter supplies to affected areas[182]. - The company has not yet initiated any poverty alleviation or rural revitalization efforts during the reporting period[183]. Employee Management - The total number of employees at the end of the reporting period was 3,167, with 2,631 in sales, 163 in administration, 288 in operations, and 85 in R&D[161]. - The company has implemented a flexible compensation structure that is performance-oriented and competitive, with total compensation dynamically managed based on business performance[163]. - The company has developed an E-learning platform to enhance employee skills through various training programs[164]. - The company has no labor outsourcing, indicating a focus on internal workforce management[165]. - The employee stock ownership plan includes 851 employees holding a total of 6,494,626 shares, representing 1.18% of the company's total share capital[171]. Risk Management - The company faces risks related to outsourcing production, which may affect product quality and delivery times[125]. - Expansion of the marketing network poses management risks, requiring effective talent management and store location selection[126]. - High inventory levels may pose risks if market conditions change, potentially leading to inventory write-downs[127]. Financial Management - The company reported a net cash flow from operating activities of ¥897,523,638.07 in 2021, an increase of 40.93% compared to the previous year[96]. - The cash and cash equivalents increased by 315.35% to ¥488,734,159.26, attributed to performance growth[97]. - The company’s cash and cash equivalents restricted amounted to ¥13,334,484.75 due to bank acceptance bill guarantees[102]. - The company’s total liabilities decreased by 9.09% to ¥284,554,163.11 due to the conversion of convertible bonds[100]. Compliance and Regulations - The company has maintained compliance with regulatory requirements regarding remuneration and governance practices[149]. - The company did not face any delisting situations or bankruptcy restructuring matters during the reporting period[197]. - There were no significant litigation or arbitration matters reported during the period[197]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[180].