Financial Performance - The company reported a revenue of 15,416 million in 2023, showing a significant increase from 11,547 million in 2021, representing a growth of approximately 33% over two years[12]. - The company aims to achieve a net profit margin of 15% in the upcoming fiscal year, up from 12% in 2023, driven by operational efficiencies and cost management strategies[12]. - The net loss attributable to owners of the parent for 2023 was approximately RMB 96,112,000, compared to a net profit of RMB 228,093,000 in 2022[28]. - Total operating revenue for 2023 was RMB 5,306,289, down 1.7% from RMB 5,395,975 in 2022[53]. - Operating profit for the year was RMB 1,012,323, a decline of 33% compared to RMB 1,510,410 in 2022[53]. - The Group's profit attributable to owners of the parent for the year was a loss of RMB 96,112, compared to a profit of RMB 228,093 in 2022[53]. - Basic earnings per share for 2023 were RMB (0.02), a decrease from RMB 0.04 in 2022[53]. Store Operations and Expansion - The retail network includes over 30 stores across various provinces, with the largest store located in Taiyuan, covering an area of 252,882 square meters[17]. - The company plans to expand its market presence by opening new shopping centers and department stores in key regions, aiming for a 10% increase in store count by the end of 2024[17]. - As of December 31, 2023, the Group operated 49 stores with a total gross floor area of approximately 3.1 million sq.m., with self-owned properties accounting for 78.1% of the total area[22]. - The Group has expanded into key cities across Southern, Eastern, Southwestern, and Northern China, becoming an industry leader in several regions[22]. - The company operates a total of 17 retail stores in Guangdong, Sichuan, Shandong, and Inner Mongolia, with a combined gross floor area of approximately 1,000,000 square meters[57][59]. - Future expansion plans include opening new stores in key provinces to enhance market presence and customer reach[59]. Digital Transformation and Technology - The management highlighted a focus on enhancing user experience through new technology integration, which is expected to improve customer engagement by 20%[17]. - The management discussion indicated a strong focus on digital transformation, with an investment of 10 million in technology upgrades planned for 2024[17]. - The Group will continue to develop and iterate digital infrastructures to expand into new areas of business growth[40]. - New product lines and technology enhancements are being developed to improve customer experience and operational efficiency[59]. Sustainability and Corporate Responsibility - The chairman's statement emphasized a commitment to sustainability, with plans to reduce carbon emissions by 25% over the next five years[17]. - The Group's commitment to corporate social responsibility includes conserving natural resources and minimizing environmental impact[155]. - The Group emphasizes environmental considerations in supplier negotiations, promoting sustainable practices and compliance with environmental regulations[94]. - The Group has implemented strict policies to prohibit the employment of individuals under the age of 16, ensuring compliance with labor laws[92]. Market Trends and Consumer Behavior - The domestic GDP for 2023 reached RMB 126 trillion, with a year-on-year growth of 5.2%[46]. - The total retail sales of consumer goods in 2023 amounted to RMB 47.1 trillion, reflecting a year-on-year increase of 7.2%[46]. - Online retail sales of physical goods grew by 8.4% year-on-year, accounting for 27.6% of total retail sales[46]. - The Group's stores achieved double-digit growth in sales through brand building and quality upgrades, particularly in the Qinhuangdao Maoye Complex[51]. Financial Position and Assets - Total assets decreased to RMB 49,043,358,000 in 2023 from RMB 50,236,899,000 in 2022, representing a decline of approximately 2.4%[28]. - Total liabilities decreased to RMB 33,120,868,000 in 2023 from RMB 33,898,808,000 in 2022, a reduction of about 2.3%[28]. - Total equity attributable to owners of the parent decreased to RMB 13,442,964,000 in 2023 from RMB 13,824,204,000 in 2022, reflecting a decline of approximately 2.8%[28]. - The Group's investment properties amounted to approximately RMB 21,806,780,000[188]. Governance and Compliance - The Company has a focus on corporate governance, with a dedicated report outlining its practices and policies[149]. - The Group's audit committee assists the directors in overseeing the financial reporting process[168]. - The Group has complied in material respects with relevant laws and regulations impacting its business and operations during the year ended December 31, 2023[182]. - The Group's independent auditor's report confirms compliance with International Financial Reporting Standards (IFRS) and the Hong Kong Companies Ordinance[159]. Employee Development and Training - The number of trained employees increased to 4,998 in 2023, representing a 122.38% increase from the previous year[90]. - The percentage of employees trained by gender and employee category is reported, indicating a focus on employee development[63]. - The average training hours completed per employee by gender and employee category are tracked to enhance workforce skills[63]. Mergers and Acquisitions - The company is exploring potential mergers and acquisitions to enhance its market position, targeting a deal that could increase market share by 15%[17]. - The litigation between Chongqing Jiefangbei Store and Xin Long Da has been resolved, allowing the Group to consider acquiring interests in Chongqing Jiefangbei Store and Maoye Wuxi Store[127].
茂业国际(00848) - 2023 - 年度财报