中胤时尚(300901) - 2023 Q4 - 年度财报

Financial Performance - The company's performance declined compared to the same period last year, primarily due to significant decreases in foreign exchange gains and losses from new e-commerce ventures[6]. - The company's operating revenue for 2023 was ¥490,507,105.35, a decrease of 14.24% compared to ¥571,928,825.25 in 2022[26]. - The net profit attributable to shareholders for 2023 was ¥21,345,628.06, reflecting a significant decline of 71.05% from ¥73,755,393.77 in 2022[26]. - The net profit after deducting non-recurring gains and losses was ¥21,048,873.45, down 73.14% from ¥78,402,913.18 in the previous year[26]. - The basic earnings per share for 2023 was ¥0.09, down 70.97% from ¥0.31 in 2022[26]. - The diluted earnings per share also stood at ¥0.09, reflecting the same percentage decrease as the basic earnings per share[26]. - The weighted average return on equity for 2023 was 2.07%, a decline of 5.01% from 7.08% in 2022[26]. - The company reported a total of ¥296,754.61 in non-recurring gains for 2023, compared to a loss of ¥4,647,519.41 in 2022[34]. - In 2023, the company's total revenue was approximately ¥490.51 million, a decrease of 14.24% compared to ¥571.93 million in 2022[66]. - The design business generated revenue of ¥52.09 million, down 20.31% from ¥65.37 million in the previous year, while supply chain integration business revenue was ¥390.18 million, a decline of 5.57%[68]. Dividend and Profit Distribution - The profit distribution plan approved by the board is to distribute a cash dividend of 1.5 RMB per 10 shares (tax included) to all shareholders, based on 236,939,934 shares[8]. - The total cash dividend distributed amounted to RMB 51,984,750.22, representing 100% of the profit distribution total[162]. - The company plans to distribute a cash dividend of RMB 1.5 per 10 shares (including tax) based on a total share capital of 236,939,934 shares[163]. Business Strategy and Market Position - The company is actively optimizing its customer structure to reduce operational risks, resulting in a decrease in operating revenue[6]. - The company is exploring new retail and business models in the supply chain, which are currently in the early stages and experiencing some losses[6]. - The company aims to expand its market presence through strategic partnerships and potential acquisitions in the fashion industry[20]. - The company is focusing on enhancing its product design capabilities to align with fast fashion trends and consumer preferences[20]. - The company is positioned as a key player in the footwear design industry, leveraging its mass design capabilities to meet the growing demand for fast fashion[38]. - The company is committed to improving its financial reporting accuracy and transparency, as stated by its management team[5]. Supply Chain and Production - The company has established production bases in Xinjiang and Wenzhou to enhance its supply chain integration capabilities, responding to national calls for supporting industrial development in the western regions[50]. - The integration of supply chain services, although not the main profit driver, plays a crucial role in ensuring the quality and effectiveness of design outcomes[45]. - The company has established a supplier database to ensure stable supply chain integration, continuously engaging and evaluating suppliers to maintain product quality[56]. - The supply chain integration business model allows customers to order mass-produced footwear based on selected designs, facilitating efficient production and delivery[56]. Research and Development - The company is developing a corrective flat-foot shoe and a smart temperature-controlled snow boot, aiming to enhance product functionality and market competitiveness[81]. - The company plans to enhance its product development capabilities by focusing on innovative and functional designs tailored to market demands[81]. - The company has a design team of 100 people, capable of producing nearly 10,000 footwear designs annually, showcasing its significant scale and efficiency in the industry[49]. - The company has a structured design process that includes market trend analysis and modular design workflows, significantly improving design efficiency[60]. Governance and Management - The company has established an independent financial accounting system and management procedures, ensuring financial independence from controlling shareholders[134]. - The company’s board of directors and senior management appointments comply with legal and regulatory requirements, ensuring independence from the controlling shareholder[131]. - The company has a complete organizational structure, with no interference from controlling shareholders in its operational activities[133]. - The company has maintained a strong governance structure with independent directors like Mr. Mao Yijian and Mr. Zhou Qun, ensuring compliance and strategic oversight[143][144]. Employee and Compensation - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 373.74 million[152]. - The chairman and general manager, Ni Xiuhua, received a total remuneration of CNY 135.75 million[151]. - The company has established a performance-based flexible compensation system to ensure employee interests are protected[160]. - The total number of employees at the end of the reporting period was 434, with 171 in production, 21 in sales, 65 in design, 35 in R&D, and 142 in management[159]. Compliance and Commitments - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[178]. - The company has committed to fulfilling all public commitments made during its initial public offering and listing on the Growth Enterprise Market, accepting social supervision[180]. - The company will ensure that any unfulfilled commitments are promptly announced along with the reasons[180]. - The company has established measures to guarantee compliance with its commitments through profit distribution as collateral[180]. Market Trends and Industry Insights - The footwear market in China reached a size of 450.2 billion RMB in 2022, while the global footwear market is expected to reach 445 billion USD in 2023[38]. - The women's footwear market accounts for approximately 50% of the global footwear market, indicating significant growth potential in this segment[42]. - The children's footwear market is experiencing rapid growth, supported by the three-child policy and increasing consumer focus on quality, with 248 million children under 15 years old in China as of the end of 2023[43]. - The footwear industry is characterized by a highly competitive landscape with low entry barriers, leading to a fragmented market structure[41].