Financial Performance - For the year ended December 31, 2022, total sales reached approximately RMB 27,781,412,000, an increase of about 16.5% compared to 2021[1] - Net profit after tax for the year was approximately RMB 4,563,165,000, a significant increase of about 35.3% year-over-year, driven by higher sales of sports and leisure products and increased foreign exchange gains[2] - Total revenue for the year was RMB 27,781,412 thousand in 2022, compared to RMB 23,845,006 thousand in 2021, reflecting a growth of approximately 16.5%[17] - The profit attributable to the owners of the parent company for 2022 was RMB 4,562,783,000, a significant increase of 35.3% year-over-year, including a foreign exchange gain contributing approximately RMB 1,105,563,000 to pre-tax profit[40] - Basic and diluted earnings per share for 2022 were RMB 3.04, an increase of 35.7% from RMB 2.24 in 2021[29] Sales Breakdown - Sales of sports products accounted for approximately 75.1% of total sales, with a significant increase of about 18.5% year-over-year, driven by rising demand in Europe and the United States[1] - Sales of leisure products represented approximately 20.7% of total sales, showing a notable increase of about 21.8% year-over-year, primarily due to strong demand in Japan[2] - Sales of lingerie products accounted for approximately 3.0% of total sales, declining by about 21.3% year-over-year, mainly due to decreased demand in Japan[2] - The sales revenue of leisure products increased from approximately RMB 4,720,735,000 in 2021 to approximately RMB 5,751,836,000 in 2022, representing a growth of about RMB 1,031,101,000 or 21.8%[44] - The sales revenue of underwear products decreased from approximately RMB 1,040,246,000 in 2021 to approximately RMB 819,133,000 in 2022, a decline of about RMB 221,113,000 or 21.3%[44] Geographic Revenue - Revenue from external customers in mainland China decreased to RMB 7,074,146 thousand in 2022 from RMB 7,568,345 thousand in 2021, a decline of about 6.5%[14] - Revenue from the European Union increased significantly to RMB 6,215,018 thousand in 2022, up from RMB 4,732,599 thousand in 2021, representing a growth of approximately 31.3%[14] - Revenue from the United States rose to RMB 4,873,358 thousand in 2022, compared to RMB 3,805,130 thousand in 2021, indicating an increase of about 28.1%[14] Cost and Profitability - Gross profit margin for the year was approximately 22.1%, a decrease of about 2.2 percentage points from the previous year, while gross profit increased by about 5.8% to RMB 6,125,849,000[2] - The cost of goods sold was RMB 21,649,619,000 in 2022, compared to RMB 18,050,496,000 in 2021, indicating a significant increase in costs[22] - Financing costs rose to RMB 228,359,000 in 2022 from RMB 144,036,000 in 2021, primarily due to increased bank borrowing interest[21] - The total income tax expense for 2022 was RMB 698,908,000, compared to RMB 451,637,000 in 2021, showing a substantial increase[24] Assets and Liabilities - Total non-current assets as of December 31, 2022, amounted to RMB 17,328,331,000, compared to RMB 15,622,465,000 in 2021[6] - Current assets totaled RMB 26,164,534,000, a slight decrease from RMB 26,509,441,000 in the previous year[6] - Total current liabilities decreased to RMB 10,259,437,000 from RMB 13,532,431,000 in 2021, indicating improved liquidity[6] - Net current assets increased to RMB 15,905,097 thousand in 2022 from RMB 12,977,010 thousand in 2021, representing a growth of approximately 22.5%[8] - Total equity reached RMB 30,765,784 thousand in 2022, up from RMB 27,783,063 thousand in 2021, marking an increase of around 7.1%[8] Cash Flow and Debt - The net cash generated from operating activities for 2022 was approximately RMB 4,628,120,000, compared to RMB 3,594,348,000 in 2021[49] - The net debt (bank borrowings minus cash and cash equivalents) decreased to approximately RMB 1,828,186,000 in 2022 from RMB 3,901,056,000 in 2021[49] - The debt-to-equity ratio decreased to 29.9% in 2022 from 38.1% in 2021, a reduction of 8.2 percentage points[49] Dividends - The proposed final dividend is HKD 0.85 per share, leading to a total proposed dividend of HKD 1.91 per share for the year, an increase of about 17.2% from HKD 1.63 per share in 2021[2] - The proposed final dividend for 2022 is HKD 0.85 per share, up from HKD 0.57 per share in 2021, totaling RMB 1,141,404,000 compared to RMB 700,550,000 in the previous year[27] Corporate Governance - The company has adopted a corporate governance code since October 9, 2005, and has complied with all provisions during the year ended December 31, 2022[61] - The Audit Committee, consisting of four independent non-executive directors, reviewed the financial statements for the year ending December 31, 2022, ensuring compliance with accounting principles and practices[73] - The company has established a policy for shareholder communication to ensure that shareholder views and concerns are appropriately addressed[67] Future Outlook - The company anticipates a gradual recovery in domestic consumption as COVID-19 restrictions ease, supported by government policies to stimulate domestic demand[57] - The company aims to enhance competitiveness and sustainable development through product diversification and new customer acquisition[57] - Due to weak global clothing demand and ongoing inventory destocking by major customers, the company's production capacity utilization is expected to remain below ideal levels in the first half of 2023, with a potential decline in revenue compared to the same period in 2022[58]
申洲国际(02313) - 2022 - 年度业绩