中胤时尚(300901) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥581,216,729.04, a decrease of 3.02% compared to ¥599,295,049.96 in 2020[19]. - The net profit attributable to shareholders for 2021 was ¥70,958,151.95, down 32.06% from ¥104,447,305.28 in 2020[19]. - The net profit after deducting non-recurring gains and losses was ¥53,099,694.00, a decline of 42.47% from ¥92,298,333.46 in 2020[19]. - The net cash flow from operating activities was -¥49,322,378.13, a significant decrease of 141.07% compared to ¥120,097,763.44 in 2020[19]. - The total assets at the end of 2021 were ¥1,147,594,671.61, an increase of 6.41% from ¥1,078,443,483.01 at the end of 2020[19]. - The net assets attributable to shareholders at the end of 2021 were ¥1,016,588,100.26, up 6.16% from ¥957,629,948.31 at the end of 2020[19]. - The basic earnings per share for 2021 was ¥0.30, a decrease of 45.45% from ¥0.55 in 2020[19]. - The weighted average return on equity for 2021 was 7.20%, down 13.38% from 20.58% in 2020[19]. - The company achieved total operating revenue of ¥581.22 million in 2021, a decrease of 3.02% compared to ¥599.30 million in 2020[60]. - Net profit attributable to shareholders was ¥70.96 million, down 32.06% from the previous year, primarily due to reduced design income and increased supply chain costs[60]. Dividend Distribution - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares to all shareholders, based on a total of 240,000,000 shares[4]. - The company distributed a cash dividend of 12,000,000.00 CNY, which represents 100% of the total profit distribution amount[147]. - The board of directors proposed a cash dividend distribution plan of RMB 0.5 per 10 shares, totaling RMB 12,000,000, based on a total share capital of 240,000,000 shares as of December 31, 2021[149]. Market and Industry Insights - The global footwear market size reached $454.23 billion in 2020, with a projected growth to $500 billion by 2023[30]. - The women's footwear market accounts for approximately 50% of the global footwear market, with a size of $190.6 billion in 2018 and expected to reach $215.33 billion in 2021[34]. - The children's footwear market is experiencing rapid growth, driven by the three-child policy and increasing consumer focus on quality[35]. - The footwear industry is characterized by a high market share of mid-range and mass brands, with a focus on fashion, comfort, and cost-effectiveness[32]. - The footwear market is highly competitive, with a significant emphasis on design innovation and supply chain management to meet diverse consumer demands[33]. Design and Innovation - The company focuses on providing design solutions as its core competitive advantage, leveraging a mature design team and efficient design processes to meet market demands quickly[44]. - The company has established a shoe production base in Xinjiang and a small intelligent production line in Wenzhou to enhance its supply chain integration capabilities[43]. - The company has a design capacity of nearly 10,000 shoe designs annually, supported by a research and design team of approximately 130 personnel[59]. - The company has received multiple honors, including being recognized as a provincial key enterprise design institute and a national copyright demonstration unit, highlighting its industry leadership[55]. - The company emphasizes independent innovation, with no reliance on purchasing designs from other institutions, ensuring originality in its offerings[48]. Supply Chain Management - The company’s supply chain integration service ensures the quality and efficiency of production by leveraging its extensive supplier network and production oversight[45]. - The supply chain integration business has expanded since 2021, with the company increasing procurement of footwear-related raw materials to ensure product quality[49]. - The company has a robust supplier evaluation system, assessing suppliers annually based on product quality and delivery timeliness, ensuring a reliable supply chain[50]. Corporate Governance - The company has established a transparent performance evaluation and incentive mechanism for directors, supervisors, and senior management[118]. - The company maintains independence in business, personnel, assets, organization, and finance from its controlling shareholders and actual controllers[121]. - The company has a complete and independent business system, capable of formulating its own marketing strategies without reliance on shareholders[121]. - The company has a fully independent financial accounting system and management practices, ensuring independent financial decision-making[122]. - The company is committed to respecting and protecting the legitimate rights and interests of stakeholders, promoting balanced interests among all parties[118]. Research and Development - The company has a dedicated R&D team focused on exploring new materials and ergonomic designs, contributing to the advancement of footwear design standards[55]. - The company plans to strengthen its R&D design team by recruiting talented designers through various channels, enhancing its core competitiveness[107]. - The establishment of design centers in Wenzhou, Hangzhou, and Shanghai aims to improve market understanding and enhance design capabilities[110]. Employee Management - The total number of employees at the end of the reporting period was 819, with 148 in the parent company and 671 in major subsidiaries[144]. - The company has established a scientific performance management system linked to a flexible salary system to safeguard employee interests[145]. - The company has implemented a training system that includes both internal and external training programs for employee development[146]. Financial Management - The company has a strong financial management team led by Pan Weimin, who has experience in auditing and financial management since 2012[128]. - The company has established effective internal controls covering various aspects including fund management, major investments, and information disclosure, ensuring compliance and operational efficiency[152]. - The internal control self-assessment report indicated that the company maintained effective financial reporting internal controls as of December 31, 2021[160]. Compliance and Commitments - The company has committed to fulfilling all public commitments made during its initial public offering and will accept social supervision[171]. - The company will disclose the fulfillment status of public commitments by its directors and senior management in regular reports[171]. - The company has established measures to ensure accountability for its directors and senior management regarding public commitments[170].