Financial Performance - The company reported a full-year performance for the year ending December 31, 2023, in compliance with the GEM Listing Rules[1]. - Revenue for 2023 was RMB 1,448,376, a decrease of 3.2% compared to RMB 1,496,977 in 2022[11]. - Gross profit increased by 4.2% to RMB 1,002,145, with a gross profit margin of 69.2%, up from 64.3% in the previous year[11]. - Adjusted profit before interest, tax, depreciation, and amortisation was RMB 35,517, a significant improvement from a loss of RMB 339,537 in 2022[11]. - Total assets decreased by 17.8% to RMB 5,395,014, while total liabilities also fell by 20.5% to RMB 4,386,124[12]. - The Group recorded a total loss for the year of RMB 50,475,000 in 2023, compared to a loss of RMB 645,398,000 in 2022[73]. - The Group's loss from operations improved to RMB 21,323,000 in 2023, significantly better than the loss of RMB 558,304,000 in 2022[72]. Corporate Governance - The board of directors confirmed that the information contained in the report is accurate and complete in all material respects[6]. - The company has established various committees, including an audit committee and a risk committee, to enhance corporate governance[9]. - The company is committed to transparency and has made all reasonable inquiries to ensure the accuracy of the report[6]. - The Company has complied with the Corporate Governance Code during the year ended December 31, 2023, except for a deviation from code provision C.2.1[193]. - The Board is responsible for overseeing management's efforts to promote the Company's success while operating effectively and responsibly[195]. Leadership and Management - Mr. Yu Tao has been appointed as the Chief Financial Officer and Executive Director since May 2018, with a background in accounting and experience in financial planning and management[83]. - The company has a strong leadership team with diverse expertise in finance, management, and client services, enhancing its operational capabilities[83][84][85][86]. - The management team has been with the company since 2018, indicating stability and continuity in leadership during critical growth phases[83]. - The independent non-executive directors bring valuable insights from their extensive backgrounds in finance and investment, contributing to strategic decision-making[84][86]. Operational Efficiency - Net cash inflow from operations was RMB 76,998, indicating strong operational efficiency[20]. - The company achieved a consolidated manpower efficiency of approximately 800,000, reflecting improved management efficiency without cost increases[20]. - The company plans to enhance sales efficiency and internal operational efficiency, aiming to exceed a per capita efficiency of 1 million through marketing innovation and better utilization of AI tools[28]. - Youzan's operational indicators focus on balancing transaction volume, active customers, income, and profit as part of its disciplined management approach[22]. Market Position and Strategy - The company aims to be among the first profitable medium-sized enterprise service companies in China, achieving its business objectives for 2023[19]. - Youzan's new value positioning includes providing an "intelligent consumer operation system" to help merchants improve customer repurchase rates and profitability, alongside offering solutions for store digitization and multi-channel data management[23][26]. - The retail industry in China is transitioning from a traffic era to a customer operation era, with Youzan focusing on comprehensive "intelligent consumer operation" services[24]. - Youzan aims to grow from providing digital software to small and medium-sized merchants to offering intelligent consumer operating systems to brand retailers, covering the entire operational process[27]. Financial Resources and Investments - For the year ended December 31, 2023, the Group's cash and cash equivalents were approximately RMB 926,265,000, an increase from RMB 889,944,000 in 2022[97]. - The Group's financial resources and liquidity position remain stable, with significant cash reserves as of year-end 2023[97]. - The Group had no outstanding convertible bonds or warrants as of December 31, 2023[106][107]. - The Group had no significant investments or specific plans for material investments or capital assets[103]. Share Options and Awards - The Share Option Scheme 2019 was terminated on June 29, 2023, but outstanding share options remain valid[108]. - The new Share Option Scheme was adopted at the 2023 Annual General Meeting, with no options granted, exercised, lapsed, or cancelled under this scheme as of December 31, 2023[113]. - The total outstanding options under the 2019 Share Option Scheme as of December 31, 2023, was 255,052,000[113]. - The Share Award Scheme, adopted on May 31, 2018, is valid for 10 years unless terminated early by the Board[115]. Customer and Supplier Relations - Revenue attributable to the Group's five largest customers was less than 5% for both 2023 and 2022, indicating a diversified customer base[93]. - The five largest suppliers accounted for approximately 49.2% of total purchases in 2023, down from 52.2% in 2022, with the largest supplier accounting for approximately 26.4% of total purchases[93]. Acquisitions and Corporate Actions - The Company conditionally agreed to acquire approximately 48.10% of Youzan Technology Inc. for a total consideration of HK$2,618,999,998.02, satisfied by issuing 14,549,999,989 Shares to the sellers[99]. - The completion of the acquisition of Youzan Technology took place on December 29, 2023[100]. - The Company issued 14,549,999,989 Consideration Shares at an issue price of HK$0.18 per Share for an acquisition on December 29, 2023[127]. Research and Development - Youzan Technology Group plans to spend approximately RMB620 million on research and development to widen its product range and enhance infrastructure[132]. - The marketing plan for Youzan Technology Group includes an estimated spending of RMB260 million, primarily for online advertising and engaging more distribution agents[132].
有赞(08083) - 2023 - 年度业绩