Financial Performance - For the fiscal year ending March 31, 2023, total revenue decreased to RMB 83,662 million, down 5.1% from RMB 88,134 million in 2022[2] - Gross profit for the same period was RMB 20,581 million, a decline of 4.2% compared to RMB 21,473 million in the previous year[2] - Operating profit surged to RMB 1,177 million, a significant increase of 6,438.9% from RMB 18 million in 2022[2] - The net profit attributable to the company's owners was RMB 109 million, recovering from a loss of RMB 739 million in the prior year[2] - Basic and diluted earnings per share improved to RMB 0.01, compared to a loss of RMB 0.08 per share in 2022[9] - The company reported a total comprehensive income of RMB 78 million for the year, compared to a loss of RMB 826 million in the previous year[7] Assets and Liabilities - Total assets as of March 31, 2023, were RMB 64,118 million, a decrease of 2.5% from RMB 65,746 million in 2022[2] - Total liabilities decreased to RMB 39,921 million, down 1.9% from RMB 40,680 million in the previous year[2] - Net cash increased to RMB 19,449 million, reflecting a growth of 4.2% from RMB 18,659 million in 2022[2] Revenue Breakdown - Revenue from merchandise sales was RMB 80,535 million, down from RMB 84,595 million, indicating a decline of 4.0%[19] - Rental income from tenants decreased to RMB 3,127 million from RMB 3,539 million, reflecting a decline of 11.6%[19] - Other income for the year was RMB 1,475 million, slightly up from RMB 1,449 million in the previous year[20] Expenses and Cost Management - Employee benefits expenses totaled RMB 10,066 million, a decrease of 3.0% from RMB 10,383 million in the previous year[21] - Selling and marketing expenses were RMB 18.510 billion, down RMB 1.843 billion or 9.1% from RMB 20.353 billion the previous year, reflecting cost-cutting efforts[51] - Administrative expenses for the year ended March 31, 2023, were RMB 2.369 billion, a decrease of RMB 0.182 billion or 7.1% compared to RMB 2.551 billion for the year ended March 31, 2022[52] Taxation - The total income tax expense for the year ended March 31, 2023, was RMB 644 million, significantly higher than RMB 323 million in the previous year[26] - Approximately 34% of the company's subsidiaries in China benefited from a preferential corporate income tax rate of 20% for small and micro enterprises, compared to 31% in the previous year[28] Cash Flow - Cash inflow from operating activities for the year ended March 31, 2023, was RMB 4.302 billion, an increase of RMB 0.725 billion or 20.3% compared to RMB 3.577 billion for the year ended March 31, 2022[59] - Cash outflow from investing activities for the year ended March 31, 2023, was RMB 1.200 billion, a decrease of RMB 4.501 billion or 136.4% compared to cash inflow of RMB 3.301 billion for the year ended March 31, 2022[61] - Cash outflow from financing activities for the year ended March 31, 2023, was RMB 1.988 billion, a decrease of RMB 1.692 billion or 46.0% compared to RMB 3.680 billion for the year ended March 31, 2022[62] Market and Operational Strategy - The company plans to continue focusing on operational efficiency and exploring market expansion opportunities in the upcoming fiscal year[2] - The company plans to declare a final dividend of RMB 0.040 per share for the year ended March 31, 2023, compared to RMB 0.045 per share in the previous year[32] - The company aims to enhance digital membership capabilities and integrate with various platforms to strengthen its competitive edge[67] Store Operations - The company opened one hypermarket and five medium-sized supermarkets during the fiscal year, while closing seven stores[70] - As of March 31, 2023, the company operated 486 hypermarkets, 12 medium-sized supermarkets, and 84 small supermarkets across China[70] - The total number of physical stores reached 582, with a total building area of 13,805,741 square meters[71] Employee and Corporate Governance - The company had 107,785 employees as of March 31, 2023, down from 122,010 employees a year earlier, with total employee benefits expenditure amounting to RMB 10,066 million[74] - The company has maintained high standards of corporate governance, ensuring compliance with the Corporate Governance Code[76]
高鑫零售(06808) - 2023 - 年度业绩