Financial Performance - Revenue for the year ended December 31, 2022, was RMB 3,066,331 thousand, representing a 30.7% increase from RMB 2,346,543 thousand in 2021[2] - Gross profit for the same period was RMB 2,347,755 thousand, up 33.0% from RMB 1,765,535 thousand in 2021[3] - Profit before tax decreased to RMB 127,190 thousand, down 46.5% from RMB 237,631 thousand in the previous year[3] - Net profit attributable to shareholders was RMB 110,694 thousand, a decline of 44.8% compared to RMB 200,509 thousand in 2021[2] - Basic and diluted earnings per share were RMB 0.24, down from RMB 0.44 in the previous year[3] - Total revenue for the year ended December 31, 2022, was RMB 110,694,000, a decrease from RMB 200,509,000 in 2021, resulting in a basic earnings per share of RMB 0.24 compared to RMB 0.44 in the previous year[29] - The company's net profit attributable to shareholders was approximately RMB 110.7 million, a decrease of about 44.8% compared to RMB 200.5 million in 2021[43] Assets and Liabilities - Total assets increased to RMB 1,360,708 thousand, compared to RMB 1,019,675 thousand in 2021, reflecting a growth of 33.5%[4] - Total liabilities decreased to RMB 573,387 thousand from RMB 646,699 thousand, a reduction of 11.3%[5] - Cash and cash equivalents at year-end rose to RMB 294,539 thousand, significantly up from RMB 80,855 thousand in 2021[6] - The debt-to-asset ratio improved from approximately 63.4% as of December 31, 2021, to about 42.1% as of December 31, 2022, due to the conversion of redeemable convertible preferred shares into ordinary shares and increased equity from retained earnings[63] Revenue Sources - Revenue from third-party e-commerce platforms was RMB 2,939,005,000, up from RMB 2,052,279,000 in the previous year, indicating a growth of 43.0%[14] - The North America region generated revenue of RMB 2,949,292,000 in 2022, a significant increase of 45.4% from RMB 2,029,381,000 in 2021[13] - Revenue through the company's self-operated website decreased to RMB 116,156,000 in 2022 from RMB 257,319,000 in 2021, a decline of 54.8%[14] Expenses - The total cost of sales, selling expenses, and general and administrative expenses for the year ended December 31, 2022, was RMB 2,946,527,000, compared to RMB 2,103,682,000 in 2021, reflecting an increase of 40%[19] - Sales and distribution expenses increased by approximately 47.5% to about RMB 2,085.9 million, primarily due to increased shipping and insurance costs[53] - General and administrative expenses rose to approximately RMB 142.1 million, an increase of about RMB 33.1 million from the previous year[54] Cash Flow - Operating cash flow for the year was RMB 92,084 thousand, recovering from a cash outflow of RMB 207,049 thousand in the previous year[6] - The company issued new shares post-listing, raising RMB 210,818 thousand, contributing to its financing activities[6] Shareholder Information - The company proposed a final dividend of HKD 0.05 per share for the year ended December 31, 2022, totaling approximately RMB 21,885,000, compared to no dividend in 2021[27] - The board proposed a final dividend of HKD 0.05 per share for the year ended December 31, 2022, compared to no dividend in 2021, subject to shareholder approval on June 20, 2023[69] Corporate Governance - The company has adhered to the corporate governance code since its listing, with the exception of the separation of the roles of Chairman and CEO, which are held by the same individual, Mr. Hua[71] - The audit committee, consisting of three independent non-executive directors, has reviewed the audited consolidated results for the year ended December 31, 2022, confirming compliance with applicable accounting principles[76] - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[70] Future Outlook - The company plans to continue expanding sales channels and markets, enhance product innovation capabilities, and increase brand investment to improve market share[68] - The company anticipates that the fiscal year 2023 will remain challenging due to ongoing global economic recovery issues and high inflation in Europe and the United States[67] Inventory and Receivables - The company’s total inventory provision increased to RMB 54,768,000 in 2022 from RMB 21,162,000 in 2021, indicating a growing concern over inventory management[19] - Trade receivables as of December 31, 2022, amounted to RMB 176,792,000, an increase of 47.5% from RMB 119,825,000 as of December 31, 2021[32] - The provision for impairment of trade receivables increased to RMB 884,000 as of December 31, 2022, from RMB 599,000 as of December 31, 2021, indicating a rise in expected credit losses[34] Significant Events - The company went public on November 11, 2022, with shares listed on the Hong Kong Stock Exchange[80] - There were no significant events affecting the group after the fiscal year ended December 31, 2022[70]
子不语(02420) - 2022 - 年度业绩