Revenue Growth - For the fiscal year ending December 31, 2023, total revenue reached RMB 1,060,045,974, a significant increase of 20.4% compared to RMB 881,199,661 in 2022[18] - The apparel trade segment generated revenue of RMB 946,051,210, up from RMB 808,662,717 in the previous year, reflecting a growth of 16.9%[18] - Trademark licensing income increased to RMB 113,994,764, representing a growth of 57.2% from RMB 72,536,944 in 2022[18] - Revenue from e-commerce platforms reached RMB 322,834,314 in 2023, up from RMB 190,371,255 in 2022, representing a growth of approximately 69.5%[38] - The company's total revenue increased by approximately 20.3% from RMB 881.2 million in FY2022 to RMB 1,060.0 million in FY2023[123] Profitability - The company reported a net profit attributable to shareholders of RMB 31,605,378 for 2023, up from RMB 16,006,327 in 2022, reflecting a growth of approximately 97.5%[20] - Earnings per share for 2023 were RMB 0.24, doubling from RMB 0.12 in 2022[20] - The company's profit surged by approximately 97.5%, increasing from RMB 16.0 million in FY2022 to RMB 31.6 million in FY2023[123] - The company's gross profit increased by approximately 2.9% from RMB 385.9 million in the 2022 fiscal year to RMB 397.2 million, primarily due to a revenue growth of 20.3%[159] Assets and Liabilities - Total current liabilities decreased to RMB 450,911,497 from RMB 511,194,583, a reduction of 11.8%[4] - The net asset value increased to RMB 253,774,921, compared to RMB 227,505,543 in 2022, marking an increase of 11.6%[4] - Non-current liabilities rose to RMB 21,703,133 from RMB 19,877,043, an increase of 9.2%[4] - The company reported a total asset value minus current liabilities of RMB 275,478,054, up from RMB 247,382,586, indicating a growth of 11.4%[4] - The company's non-current assets increased to RMB 103,037,134 in 2023 from RMB 76,832,082 in 2022, marking an increase of about 34.2%[21] Cash Flow and Receivables - Cash and cash equivalents rose to RMB 143,224,055 in 2023, compared to RMB 114,688,165 in 2022, an increase of approximately 24.9%[21] - Trade receivables increased to RMB 223,122,076 in 2023 from RMB 205,408,626 in 2022, showing a growth of about 8.5%[39] - The expected credit loss provision for trade receivables was RMB 1,070,535 in 2023, down from RMB 2,423,478 in 2022, showing a reduction of about 55.7%[84] Inventory Management - The total inventory write-down for 2023 was RMB 7,606,974, significantly reduced from RMB 18,352,733 in 2022, indicating improved inventory management[59] - The inventory balance decreased by about 26.2% year-on-year, indicating improved inventory turnover[103] - The average inventory turnover days improved from 259 days as of December 31, 2022, to 149 days as of December 31, 2023, due to efficient inventory management through cloud warehousing[171] Expenses - Total depreciation and amortization expenses for 2023 amounted to RMB 37,800,117, down from RMB 51,390,606 in 2022, reflecting a decrease of approximately 26.4%[59] - Sales and distribution expenses decreased by approximately 5.8% year-on-year, representing 29.1% of total revenue, down from 37.1% in FY2022[103] - Administrative expenses increased by approximately 9.8% from RMB 36.8 million in FY2022 to RMB 40.4 million in the current year, primarily due to increased depreciation of fixed assets and legal consulting fees[164] Dividends - The company proposed a final dividend of RMB 0.08 per share for 2023, compared to RMB 0.04 per share in 2022, marking a 100% increase in dividend payout[61] - The proposed final dividend is RMB 0.08 per share, totaling RMB 10,672,000 before tax, which is an increase from RMB 5,336,000 in the previous year[136] - The final dividend will be subject to approval at the annual general meeting on June 3, 2024, and is expected to be paid by August 2, 2024[136] Strategic Initiatives - The company plans to continue expanding its market presence and investing in new product development to drive future growth[20] - The company is focusing on high-quality development and optimizing market layout to enhance profitability and market share[104] - The company plans to establish 100 "China Shanshan" brand experience centers to enhance customer engagement and implement a "Hundred Cities, Thousand Stores" strategy[157] - The company aims to create a multi-channel marketing network that integrates traditional, social, live-streaming, and private domain platforms for sustainable development[157] Future Outlook - The company maintains a positive outlook for future development, focusing on core brands FIRS and SHANSHAN, and aims to enhance market share and sustainable growth[148] - The company is committed to deepening the management of user assets to unlock user value[129] - The company will enhance its offline consumer shopping experience to strengthen brand loyalty[129]
杉杉品牌(01749) - 2023 - 年度业绩