Store Expansion and Operations - As of December 31, 2021, the company has successfully opened 31 stores in China, covering a total construction area of approximately 2,529,930 square meters and a total operating area of about 1,713,415 square meters[3]. - The company has established 15 lifestyle centers, with a total construction area of 1,971,090 square meters, accounting for approximately 35.0% of the company's total operating area[4]. - The group plans to launch new projects in Nantong, Changzhou, and Changchun, with a total of 35 retail stores and a total construction area of 3.4 million square meters[33]. - The "Xuzhou Jin Ying Shangjie" subway commercial project is set to open in Q3 2022, with approximately 25,000 square meters of space dedicated to a trendy, social, and artistic theme[35]. - The company is focusing on the middle-class family and young customer segments, aiming to upgrade its existing business brands and enhance customer experience[4]. Financial Performance - Total revenue for 2021 reached RMB 17.19 billion, representing a 4.6% increase compared to 2020[17]. - Retail business revenue for 2021 was RMB 5.57 billion, with a year-on-year growth of 3.8%[17]. - EBITDA for the retail business in 2021 was RMB 2.68 billion, reflecting a 10.5% increase from the previous year[17]. - Net profit attributable to the company's owners for 2021 was RMB 1.61 billion, up 3.3% from 2020[17]. - The total customer traffic for the year reached 190 million, a 26.1% increase compared to 2020[25]. Customer Engagement and Digital Strategy - The mobile application "Jin Ying Life" has surpassed 9.24 million downloads, with an average of 140,000 daily active users as of December 31, 2021[8]. - Over 98% of the 3.14 million VIP customers have linked their VIP membership cards to the mobile application, with VIP customer spending accounting for 64.4% of the total sales revenue[8]. - The company is focusing on brand upgrades and enhancing customer experience through digitalization and innovative marketing strategies[25]. - The group will continue to focus on digital transformation and enhance member experience to improve customer lifetime value (LTV)[31]. Sustainability and Environmental Impact - The company is committed to reducing its environmental impact while creating social and economic value, adhering to various Chinese environmental laws and regulations[158]. - Natural gas consumption in 2021 was 3,394,343 cubic meters, an increase from 2,909,849 cubic meters in 2020, representing a 16.6% increase[156]. - Water consumption in 2021 reached 3,416,174 cubic meters, up from 2,918,879 cubic meters in 2020, marking a 17.1% increase[156]. - Total greenhouse gas emissions in 2021 were 322,366 tons of CO2 equivalent, compared to 288,942 tons in 2020, reflecting an increase of 11.5%[156]. - The company is committed to green development by classifying waste generated by merchants and establishing collection points to promote recycling and reduce solid waste emissions[164]. Corporate Governance - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balanced governance structure[99]. - The company has a governance framework that includes an audit committee, a remuneration committee, and a nomination committee to enhance transparency and accountability[95]. - The company has been compliant with the corporate governance code as per the Hong Kong Stock Exchange regulations since the fiscal year ending December 31, 2021[95]. - The company aims to ensure timely disclosure of financial information to stakeholders, with annual and interim results published within three and two months after the respective periods[118]. - The board of directors is responsible for corporate governance matters, including the review and implementation of governance policies and compliance with legal regulations[135]. Employee Management and Compensation - The company employs approximately 2,590 staff members as of December 31, 2021, to enhance its international management vision and local operational strategies[9]. - Employee benefits expenses increased by RMB 44.7 million or 13.3% to RMB 381.0 million, attributed to various factors including increased contributions to national retirement benefit plans[60]. - The group regularly reviews compensation and benefits standards based on labor market conditions and industry salary benchmarks, aiming to provide competitive remuneration to employees[198]. - Employee contracts cover terms such as contract duration, compensation, benefits, working hours, rest periods, and termination conditions[199]. Challenges and Future Outlook - The group anticipates challenges in 2022 due to recurring COVID-19 outbreaks and inflationary pressures, but remains optimistic about the long-term economic fundamentals in China[32]. - The company aims to adapt to consumer trends by providing sustainable and diverse products and services[24]. - The company has initiated a climate response action plan to manage physical and transition risks associated with climate change[192]. - The company plans to consider hedging measures for foreign exchange risks if necessary, as it currently has no contracts in place[81].
金鹰商贸集团(03308) - 2021 - 年度财报