Financial Performance - Total revenue for the year ended December 31, 2022, was RMB 1,719,074 thousand, representing a 7% increase from RMB 1,610,322 thousand in 2021[27] - Gross profit decreased by 4% to RMB 1,098,384 thousand compared to RMB 1,138,446 thousand in the previous year[27] - Profit attributable to owners of the company increased by 35% to RMB 116,462 thousand from RMB 86,531 thousand in 2021[27] - Basic earnings per share rose to RMB 0.054 from RMB 0.039, while diluted earnings per share increased to RMB 0.053 from RMB 0.039[27] - The company reported a pre-tax profit of RMB 137,253 thousand, an increase of 21% from RMB 113,682 thousand in the previous year[28] - The company reported a net profit of RMB 116,462,000 for the year ended December 31, 2022, compared to RMB 86,531,000 in 2021, representing a year-over-year increase of approximately 34.5%[38] - The total other income and gains increased to RMB 16,525,000 in 2022 from RMB 12,266,000 in 2021, marking an increase of approximately 34.5%[52] - The income tax expense for 2022 totaled RMB 20,791,000, down from RMB 27,151,000 in 2021, which is a decrease of approximately 23.3%[63] - The basic earnings attributable to equity holders of the parent company for 2022 were RMB 116,462,000, compared to RMB 86,531,000 in 2021, representing an increase of approximately 34.5%[69] - The company did not declare any interim dividend for 2022, while it paid RMB 35,016,000 in dividends in 2021[66] - The group reported a net profit of approximately RMB 116.5 million for the year ended December 31, 2022, up from approximately RMB 86.5 million for the year ended December 31, 2021[118] Revenue and Sales - Revenue from sales of goods reached RMB 1,719,074,000 in 2022, up from RMB 1,610,322,000 in 2021, indicating a growth of about 6.7%[51] - Online channel revenue accounted for 42.2% of total revenue, an increase of 5.7 percentage points from the previous year, totaling RMB 725.6 million, a 23.5% year-on-year growth[84] - The brand "Black Nourishment" contributed approximately RMB 670.0 million in GMV in 2022, marking a 63.4% increase year-on-year[80] - The newly launched brand "Little Genius" achieved GMV of RMB 20.0 million in Q4 2022, showcasing promising growth potential[81] - The company's new channel business achieved revenue of RMB 179.5 million in 2022, a significant increase of 620.5% year-on-year, accounting for approximately 10.4% of total revenue[89] - Offline channel revenue recorded RMB 993.5 million for the year ended December 31, 2022, a decrease of 2.9% year-on-year, while online channel revenue increased to RMB 725.6 million, representing 42.2% of total revenue[92][102] Assets and Liabilities - Cash and cash equivalents increased to RMB 781,337 thousand from RMB 646,015 thousand year-on-year[15] - Total current assets grew to RMB 1,105,315 thousand from RMB 965,495 thousand, reflecting a strong liquidity position[15] - Total assets less current liabilities amounted to RMB 1,252,763 thousand, up from RMB 1,142,469 thousand in the previous year[15] - Non-current assets totaled RMB 413,539 thousand, a decrease from RMB 432,548 thousand in 2021[15] - Trade receivables amounted to RMB 195.7 million in 2022, up from RMB 174.0 million in 2021, indicating a growth of 12.5%[71] - Trade payables reached RMB 84.9 million in 2022, up from RMB 59.7 million in 2021, reflecting a growth of 42.2%[74] - The net current assets increased from RMB 709.9 million as of December 31, 2021, to RMB 839.2 million as of December 31, 2022[125] Costs and Expenses - The cost of goods sold increased significantly to RMB 620,690,000 in 2022 from RMB 471,876,000 in 2021, which is an increase of approximately 31.4%[60] - Sales and distribution expenses decreased from approximately RMB 954.4 million for the year ended December 31, 2021, to approximately RMB 891.0 million for the year ended December 31, 2022, primarily due to reduced transportation costs and a decrease in commission expenses[109] - Administrative expenses decreased from approximately RMB 81.6 million for the year ended December 31, 2021, to approximately RMB 79.0 million for the year ended December 31, 2022, mainly due to the reclassification of certain salary and employee benefits expenses[110] Research and Development - Research and development costs rose to RMB 11,456,000 in 2022 from RMB 8,864,000 in 2021, reflecting an increase of approximately 29.9%[60] Corporate Governance and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, with values presented in thousands of RMB[33] - The company has adopted revised Hong Kong Financial Reporting Standards, which did not have any impact on its financial position or performance for the year[44][45][47] - The company has confirmed compliance with the standard code of conduct for securities trading by its directors for the year ended December 31, 2022[153] - The audit committee, composed of three independent non-executive directors, reviewed the company's corporate governance policies and compliance with governance codes[143] Future Outlook and Strategy - The company plans to continue its "multi-brand, all-channel" development strategy to expand consumer reach and capitalize on market opportunities in the health food sector[100] - The company remains optimistic about the consumer goods market in 2023, anticipating a recovery in demand following the lifting of pandemic measures[100] Employee and Operational Metrics - As of December 31, 2022, the group had 697 employees, a decrease from 713 employees in 2021, with employee costs totaling RMB 156.3 million, a slight increase of approximately 0.3% from RMB 155.8 million in 2021[136] - The number of direct-operated counters decreased by 18.3% to 2,012, with revenue from this segment declining by 18.4% to RMB 814.0 million[97] Environmental and Social Responsibility - The company has a dedicated team for environmental compliance and implements strict waste management procedures at its manufacturing base[144]
五谷磨房(01837) - 2022 - 年度业绩