Buydeem Group(SZ:300824)2023-03-29 16:00Financial Performance - The company reported a profit distribution plan to distribute a cash dividend of 1.43 RMB (including tax) for every 10 shares based on a total of 326,341,682 shares[5]. - The report period covers from January 1, 2022, to December 31, 2022, indicating a full year of financial performance[12]. - The company's operating revenue for 2022 was ¥804,743,081.72, a decrease of 4.98% compared to ¥846,913,164.92 in 2021[20]. - Net profit attributable to shareholders decreased by 56.71% to ¥46,970,199.21 from ¥108,489,245.04 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥40,222,161.05, down 60.22% from ¥101,103,721.68 in 2021[20]. - Basic and diluted earnings per share dropped to ¥0.1440, a decline of 56.71% from ¥0.3327 in 2021[20]. - Total assets at the end of 2022 were ¥1,039,083,135.34, reflecting a 6.35% increase from ¥977,059,023.49 at the end of 2021[20]. - The weighted average return on equity decreased by 9.34 percentage points to 6.64% from 15.98% in 2021[20]. - The total revenue for the reporting period was ¥679.39 million, a 7.47% increase compared to ¥632.16 million in the same period last year[74]. - The revenue from the small home appliance sector was ¥804.74 million, representing a 4.98% decline from ¥846.91 million in the previous year[91]. Operational Insights - The company emphasized that its ability to continue operations is not at significant risk despite a decline in performance, as detailed in the management discussion and analysis section[5]. - The company has not changed its registered address since its listing, maintaining stability in its operational base[16]. - The company has appointed a certified public accounting firm to audit its financial statements, ensuring compliance and transparency[19]. - The company has implemented a long-term employee incentive mechanism, including stock option plans for core management teams in 2017, 2021, and 2022[62]. - The company has adopted advanced production equipment and a lean manufacturing system to improve production efficiency and product quality[61]. - The company continues to focus on optimizing channel management and enhancing operational efficiency in response to external challenges[64]. - The company has established two new subsidiaries in 2022, enhancing its operational footprint[98]. - The company has a total of 943 employees, with 421 in production, 188 in sales, 221 in technology, 26 in finance, and 87 in administration[197]. Market Strategy - The company focuses on improving dietary needs and aims to provide high-quality products and responsible services globally[32]. - The main business includes the "BUYDEEM" brand and OEM/ODM services, with a commitment to expanding the global presence of the BUYDEEM brand[32]. - The company has been expanding its overseas market since 2017, covering regions like North America, Japan, and Southeast Asia[51]. - The sales strategy includes both online and offline channels, with a focus on enhancing user experience through direct consumer engagement[48]. - The company emphasizes a strong brand image and user loyalty, aiming to create a unique lifestyle brand[57]. - The company is committed to understanding user needs and continuously improving its products and services based on consumer feedback[58]. - The company has launched various products for health, drinking, cooking, and coffee scenarios, including health pots and instant water dispensers[34][36][37][38]. - The company plans to continue expanding its offline channels while optimizing existing store operations to enhance efficiency[84]. Research and Development - The company invested CNY 34.65 million in R&D during the reporting period, accounting for 5.10% of its self-owned brand revenue[59]. - As of December 31, 2022, the company held a total of 212 patents, including 64 domestic invention patents and 29 overseas invention patents[59]. - The company has a comprehensive product development process that includes user insight, validation, creation, and manufacturing[45]. - The company launched several new products, including a "mini multifunctional steamer" and an "electronic temperature control kettle," aimed at expanding product categories and enhancing competitiveness[104]. - The company plans to increase R&D investment to foster product innovation and enhance user experience to combat market competition[150]. Financial Management - The company has received government subsidies amounting to ¥8,300,782.00 in 2022, compared to ¥2,965,827.74 in 2021[26]. - The company’s cash and cash equivalents at year-end amounted to ¥568,390,605.48, representing 54.70% of total assets, up from 45.39% at the beginning of the year[113]. - The total investment amount for the reporting period was ¥866,701,311.55, a 2.68% increase compared to ¥844,074,459.78 in the previous year[118]. - The company reported a fair value of RMB 3,896 million for its securities investments, with a change of RMB 108 million[121]. - The company has utilized 77.74% of the raised funds, with RMB 21,948.11 million already used[125]. - The company has implemented strict management of the raised funds and has taken a prudent approach to fund investment amid changing market conditions[133]. - The company has decided to terminate the "Kitchen Small Appliances Expansion Project" and will permanently supplement the remaining raised funds of RMB 64.0713 million, including interest, into working capital[133]. Governance and Compliance - The company maintains a governance structure that complies with the requirements of the Company Law and the Shenzhen Stock Exchange regulations, ensuring independent operation from its controlling shareholder[158]. - The company has a board of directors consisting of 7 members, including 3 independent directors, fulfilling legal and regulatory requirements[159]. - The company emphasizes information disclosure and transparency, ensuring timely and accurate information dissemination to all shareholders and investors[162]. - The company has established a transparent performance evaluation and incentive mechanism for senior management, ensuring compliance with legal regulations[161]. - The audit committee oversees the implementation of internal audit systems and reviews financial information[165]. - The company has not provided undisclosed information to major shareholders or actual controllers, ensuring compliance with governance standards[164]. Challenges and Risks - The company reported a significant decline in consumer confidence and spending due to global economic challenges, impacting overall performance[30]. - The company faced uncertainties regarding its ability to continue as a going concern, as indicated in the audit report[21]. - The company acknowledges risks related to raw material price fluctuations and will implement management measures to mitigate these impacts[144]. - The company is aware of exchange rate fluctuation risks and will take necessary foreign exchange management measures[147]. - The company faced pressure on profits due to high inventory levels and decreased demand in the OEM/ODM sector[63].