Financial Performance - Revenue increased by 21.0% to RMB 8.42 billion[23] - Profit attributable to equity holders rose by 28.7% to RMB 960 million[23] - The company's revenue for the fiscal year 2023 reached RMB 8,423.3 million, representing a year-on-year growth of 21.0%[41] - Profit attributable to equity holders increased to RMB 961.4 million, up 28.7% compared to the previous year[41] - The gross profit margin improved to 41.1%, compared to 40.5% in 2022[35] - The operating profit margin also increased to 16.4%, up from 15.4% in the prior year[35] - The company proposed a final dividend of HKD 0.139 per share, equivalent to RMB 0.127, with a payout ratio of 40.2%[41] Business Expansion and Market Strategy - The company aims for market expansion through collaborations with well-known IPs and international sports stars[14] - The company aims to leverage the opportunities presented by the 2024 Olympic year to enhance its brand and product offerings, focusing on innovation and consumer engagement[50] - The company is focused on integrating online and offline channels to enhance retail performance and optimize operational efficiency[49] - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2025[91] - The company is exploring partnerships with local brands to enhance its product offerings and reach[91] Product Development and Innovation - The company has launched new products in the competitive running segment, including professional carbon plate running shoes[14] - The company is committed to deepening research and innovation to strengthen its professional sports product offerings and enhance brand image[50] - The company continues to innovate in product technology, enhancing its competitive edge in the market[104] - The company launched the "Trajectory 4.0" and "Trajectory 5.0" series, which quickly sold out upon release, indicating strong consumer demand for new products[67] - The children's sportswear segment is experiencing rapid growth, with 361º Children's sales outlets increasing to 2,545, a net increase of 257 compared to the end of 2022[47] E-commerce and Online Sales - E-commerce business revenue grew by 38.0% to RMB 2.33 billion[23] - E-commerce sales revenue grew by 38.0% year-on-year to RMB 2,325.5 million, accounting for approximately 27.6% of total revenue[114] - During the "618" shopping festival, 361º e-commerce channels achieved a cumulative sales increase of approximately 43%[103] - The company aims to enhance brand image and sales through e-commerce platforms like Tmall and JD, while also leveraging data analytics for product development[102][104] Brand Positioning and Marketing - 361º has positioned itself as a "youth sports expert" with its children's brand, emphasizing professional functionality and health technology[6] - The company aims to enhance brand value and influence while promoting the spirit of "more love" globally[56] - The company has signed prominent athletes as brand ambassadors, including Chinese women's football player Li Mengwen and basketball player Li Yuan, to strengthen its presence in various sports[44] - The company has been recognized with multiple awards, including the Best Investor Relations Company in Hong Kong[18] Operational Efficiency and Cost Management - The debt ratio decreased to 2.2%, down from 2.4% in 2022[35] - Inventory turnover days improved to 93 days, compared to 91 days in the previous year[35] - The average wholesale price of footwear and apparel rose by 3.0% and 0.5% year-on-year, respectively, due to price adjustments and the introduction of higher-priced new products[112] - The company plans to continue diversifying its supply chain to control production costs more effectively[118] Corporate Governance and Social Responsibility - The company has complied with all relevant environmental laws and regulations, ensuring no significant waste or pollution was produced during the year[156] - Charitable donations made by the group during the year amounted to RMB 13,731,000, a decrease from RMB 14,261,000 in 2022[166] - The group has maintained good relationships with employees, suppliers, distributors, and authorized retailers throughout the year[158][159][160][161] Future Outlook - The group is optimistic about the development of the Chinese sports industry in 2024, driven by major international and domestic sports events, including the Paris Olympics[145] - The group plans to strengthen its online and offline sales channels to meet changing consumer shopping demands and experiences[145] - The group will increase investments in e-commerce to create differentiated online brand advantages while expanding and upgrading offline stores[145]
361度(01361) - 2023 - 年度业绩