Financial Performance - For the fiscal year ending December 31, 2023, total operating revenue increased to RMB 4,177.5 million, representing an 11.4% year-on-year growth[2]. - Same-store sales rose by 7.1% in the fiscal year 2023[3]. - Total sales revenue (including VAT) for the fiscal year 2023 was RMB 10,093.9 million, up 9.5% compared to the previous year[3]. - Operating profit for the fiscal year 2023 was RMB 505.5 million, a significant recovery from an operating loss of RMB 11.0 million in 2022[3]. - Profit before tax for the fiscal year 2023 was RMB 86.6 million, compared to a loss before tax of RMB 413.2 million in 2022[3]. - The profit attributable to owners of the company for the fiscal year 2023 was RMB 66.4 million[4]. - Basic and diluted earnings per share for the fiscal year 2023 were RMB 0.025, recovering from a loss of RMB 0.146 in 2022[6]. - The company's pre-tax profit for 2023 was RMB 66,413,000, compared to a loss of RMB 383,599,000 in 2022, indicating a significant turnaround in performance[31]. Revenue Sources - Total sales revenue for 2023 reached RMB 9,080,998 thousand, an increase of 9.9% compared to RMB 8,262,172 thousand in 2022[19]. - Self-operated sales amounted to RMB 2,130,142 thousand in 2023, slightly down from RMB 2,139,942 thousand in 2022[19]. - Franchise sales revenue increased to RMB 5,661,107 thousand in 2023, up from RMB 5,218,896 thousand in 2022, reflecting a growth of 8.5%[19]. - Other operating income rose to RMB 1,289,749 thousand in 2023, compared to RMB 903,334 thousand in 2022, marking a significant increase of 42.7%[19]. - Revenue from customer contracts, including self-operated sales, consignment sales commissions, and consulting and management service fees, accounted for 69.4% of total operating revenue, increasing by RMB 43.8 million or 1.5% compared to 2022[55]. Assets and Liabilities - Total assets decreased to RMB 8,234.978 million in 2023 from RMB 8,735.732 million in 2022[11]. - Current liabilities increased slightly to RMB 2,841.805 million in 2023 from RMB 2,816.118 million in 2022[11]. - The net asset value remained stable at RMB 3,317.147 million in 2023, compared to RMB 3,318.279 million in 2022[11]. - The total equity as of January 1, 2023, was RMB 3,318,279 thousand, a decrease from RMB 3,449,569 thousand as of December 31, 2022, indicating a decline of 3.8%[18]. - The company’s total liabilities increased from RMB 480,425,000 in 2022 to RMB 702,563,000 in 2023, reflecting a growth of approximately 46.2%[36]. Expenses - Total employee costs decreased from RMB 536,636,000 in 2022 to RMB 485,837,000 in 2023, reflecting a reduction of approximately 9.5%[24]. - The total rental expenses for 2023 amounted to RMB 90,132,000, a significant increase from RMB 15,214,000 in 2022, primarily due to the absence of COVID-19 related rent concessions[24]. - The net financing cost increased by RMB 43.8 million or 11.0% to RMB 442.8 million, primarily due to increased interest on bank loans[63]. - Operating expenses for the cost of goods sold decreased by RMB 14.4 million or 0.8% to RMB 1,835.7 million, attributed to a slight decline in direct sales leading to reduced procurement from third-party suppliers[56]. Government Grants and Taxation - The company received government grants totaling RMB 14,834 thousand in 2023, up from RMB 10,285 thousand in 2022, representing a growth of 44.5%[22]. - The company reported a current tax expense of RMB 89,367,000 for 2023, compared to RMB 51,575,000 in 2022, which is an increase of about 73%[28]. Market and Strategic Developments - The overall retail sales in China grew by 7.2% in 2023, reflecting a gradual recovery in consumer spending post-pandemic[42]. - The company aims to adapt to evolving consumer demands and market changes through flexible, customer-centric strategies and cost management[40]. - The company is focusing on its core business to become a leading operator of fashion commercial spaces, leveraging its experience and strategies developed over the past 30 years[49]. - The macroeconomic environment in China is expected to stabilize in 2024, although challenges and uncertainties remain[40]. Corporate Governance - The company fully complied with the corporate governance code as per the Hong Kong Stock Exchange Listing Rules for the year ended December 31, 2023[78]. - The board of directors confirmed adherence to the standard code of conduct for securities trading throughout the year ended December 31, 2023[79]. - An audit committee has been established to review financial reports and maintain appropriate relationships with external auditors for the year ended December 31, 2023[80]. - The auditor confirmed that the preliminary performance announcement figures are consistent with the audited consolidated financial statements for the year ended December 31, 2023[81]. Future Plans - The company successfully opened two new Parkson shopping centers in 2023, expanding its presence in Jiangxi Province with a total of 43 stores across 29 cities in China and Laos[44]. - The company plans to open two new stores in Mianyang, Sichuan Province, with one set to launch in January 2024 and another anticipated in 2026[46].
百盛集团(03368) - 2023 - 年度业绩