Financial Performance - For the year ended December 31, 2022, the group's revenue and gross profit were RMB 5,663.43 million and RMB 4,254.42 million, representing a decrease of 10.88% and 10.21% respectively compared to the year ended December 31, 2021[2]. - The profit for the year was RMB 375.43 million, a decrease of 33.22% or RMB 186.73 million from RMB 562.16 million for the year ended December 31, 2021, with a net profit margin of 6.63% (2021: 8.85%) [2]. - Basic earnings per share for the year were RMB 0.57, down from RMB 0.84 in 2021[2]. - Total comprehensive income for the year was RMB 374.54 million, compared to RMB 596.12 million in 2021[7]. - The company's pre-tax profit for 2022 was RMB 464,368, a decline of 34.9% from RMB 713,724 in 2021[29]. - Net profit attributable to the owners of the parent company was RMB 382.43 million, a decrease of 32.20% or RMB 181.59 million compared to RMB 564.02 million in the previous year, with a net profit margin of 6.63%[49]. Revenue Breakdown - The company's revenue for the year ended December 31, 2022, was RMB 5,663,430, a decrease of 10.9% from RMB 6,354,875 in 2021[21]. - Revenue from clothing and accessories sales in mainland China was RMB 5,663,264, accounting for the majority of total revenue[22]. - E-commerce revenue increased by 18.04% to RMB 893.23 million from RMB 756.69 million in the previous year, driven by increased online sales and marketing efforts[41]. - Revenue from distributors decreased by 40.52% to RMB 334.23 million from RMB 561.93 million in the previous year[41]. - Direct retail stores generated revenue of RMB 4,416.07 million, down 11.51% from RMB 4,990.24 million in 2021[62]. - The revenue contribution from the East China region was RMB 1,645.18 million, accounting for 34.63% of total revenue[65]. Expenses and Costs - The cost of goods sold for the year was RMB 1,409,010, down from RMB 1,616,889 in the previous year, indicating improved cost management[26]. - Selling and distribution expenses decreased by 6.94% to RMB 3,235.18 million from RMB 3,476.48 million in the previous year, attributed to reduced sales and related costs[45]. - Administrative expenses increased by 12.04% to RMB 601.49 million from RMB 536.83 million in the previous year, primarily due to increased office rent and R&D costs[46]. - Financing costs increased by 30.92% to RMB 56.32 million from RMB 43.02 million in the previous year, mainly due to higher lease liabilities interest expenses[47]. - Research and development expenses for 2022 amounted to RMB 169,497, an increase of 15.1% from RMB 147,226 in 2021, reflecting ongoing investment in innovation[26]. Assets and Liabilities - Non-current assets totaled RMB 3,623.13 million as of December 31, 2022, slightly up from RMB 3,615.90 million in 2021[8]. - Current assets amounted to RMB 2,634.55 million, compared to RMB 2,616.10 million in 2021[8]. - The total equity attributable to equity holders of the parent was RMB 3,987.50 million, an increase from RMB 3,933.48 million in 2021[9]. - The group's debt-to-equity ratio as of December 31, 2022, was 10.79%, down from 12.49% as of December 31, 2021[51]. - Trade payables and notes payable increased significantly to RMB 464,238,000 in 2022 from RMB 204,361,000 in 2021, representing a growth of about 127.5%[36]. Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.40 per share for the year, down from HKD 0.48 in 2021[2]. - The proposed final dividend for 2022 is HKD 0.40 per ordinary share, down from HKD 0.48 in 2021, reflecting a decrease of approximately 16.7%[38]. Corporate Governance and Compliance - The company is committed to maintaining high corporate governance standards and has adopted relevant codes of practice[85]. - The company has adopted the standard code of conduct for directors trading in securities as per the listing rules, confirming compliance by all directors for the year ending December 31, 2022[86]. - The audit committee, established on June 6, 2014, reviewed the group's financial reporting procedures and risk management for the year ending December 31, 2022[88]. Future Outlook and Strategy - The company anticipates a recovery in consumer confidence and high-end consumption in 2023, following the easing of COVID-19 restrictions[40]. - The company aims to achieve retail sales of RMB 10 billion in 2023 and RMB 15 billion by 2025, supported by a long-term strategy of multi-brand and omni-channel development[77]. - The company will officially launch its upgraded product system in Q2 2023, enhancing product competitiveness and management[79]. - The company aims to deepen supply chain integration, focusing on high-quality, cost-effective, and professional supply chain management[81]. - The company will enhance its digital infrastructure to improve online and offline member management and logistics capabilities[80].
赢家时尚(03709) - 2022 - 年度业绩