滔搏(06110) - 2023 - 年度业绩

Financial Performance - Total revenue for the year ended February 28, 2023, was RMB 27,073.2 million, a decrease of 15.5% from RMB 31,876.5 million in the previous year[2]. - Gross profit for the same period was RMB 11,284.2 million, down 18.4% from RMB 13,824.4 million, resulting in a gross margin of 41.7% compared to 43.4%[2][4]. - Operating profit decreased to RMB 2,430.9 million, representing a decline of 29.2% from RMB 3,430.1 million, with an operating margin of 9.0% compared to 10.8%[2][4]. - Profit attributable to equity holders was RMB 1,836.6 million, down 25.0% from RMB 2,446.5 million, leading to a basic and diluted earnings per share of RMB 29.62, down from RMB 39.45[2][4]. - Sales of goods decreased to RMB 26,844.3 million, down 15.0% from RMB 31,574.5 million in the previous year[16]. - Basic earnings per share decreased to RMB 29.62 for the year ended February 28, 2023, down from RMB 39.45 in the previous year, representing a decline of about 25%[22]. Dividends - The company proposed a final dividend of RMB 5.00 per share, down from RMB 7.00, with total dividends for the year amounting to RMB 15.00 compared to RMB 23.00 in the previous year[2]. - The company has proposed a final dividend of RMB 5.00 per share and a special dividend of RMB 15.00 per share for the year ended February 28, 2023, totaling RMB 1,240.3 million[23]. - The total dividend for the fiscal year was RMB 0.33 per share, with a payout ratio of 111.4%[42]. Cash Flow and Liquidity - The net cash generated from operating activities for the year ended February 28, 2023, was RMB 5,241.5 million, a decrease of 20.5% from RMB 6,592.3 million in the previous year[8]. - The net cash used in investing activities was RMB 305.6 million, significantly improved from RMB 671.3 million in the previous year, indicating a reduction of 54.5%[8]. - The net cash used in financing activities was RMB 3,440.3 million, a decrease of 23.5% compared to RMB 4,494.4 million in the previous year[8]. - The company reported a net increase in cash and cash equivalents of RMB 604.8 million for the year, compared to an increase of RMB 523.8 million in the previous year[8]. - The cash and cash equivalents at the end of the year were RMB 2,357.4 million, up from RMB 1,752.6 million at the beginning of the year[8]. - As of February 28, 2023, the group held cash and cash equivalents totaling RMB 3,643.4 million, resulting in a net cash position of RMB 2,098.4 million after deducting short-term borrowings of RMB 1,545.0 million[59]. Assets and Liabilities - Total assets as of February 28, 2023, were RMB 16,820.7 million, a decrease from RMB 17,796.3 million in the previous year[6]. - Total liabilities decreased to RMB 6,987.1 million from RMB 7,214.8 million, resulting in a net asset value of RMB 9,833.6 million compared to RMB 10,581.5 million[7]. - The company maintained a current ratio of 2.3, consistent with the previous year[2]. - Trade receivables amounted to RMB 1,054.9 million as of February 28, 2023, compared to RMB 1,106.9 million as of February 28, 2022, showing a decrease of approximately 4.7%[25]. - As of February 28, 2023, accounts payable amounted to RMB 991.0 million, an increase from RMB 926.7 million on February 28, 2022, reflecting a growth of 6.9%[27]. - Short-term bank loans totaled RMB 1,545.0 million as of February 28, 2023, compared to RMB 518.2 million on February 28, 2022, indicating a significant increase of 197.5%[28][29]. Operational Efficiency - Average trade receivables turnover period improved to 14.6 days from 18.8 days, while average inventory turnover period increased to 149.5 days from 130.4 days[2]. - The company reported a foreign exchange gain of RMB 82.1 million, compared to a loss of RMB 20.5 million in the previous year[5]. - The company reported a total of RMB 24,942.3 million in total expenses for sales costs, selling and distribution expenses, and general and administrative expenses for the year ended February 28, 2023, down from RMB 28,783.9 million in 2022, a reduction of about 13.4%[18]. - Employee costs decreased to RMB 2,890.5 million in 2023 from RMB 3,463.7 million in 2022, reflecting a reduction of about 16.5%[18]. - Total financing costs netted to RMB (108.5) million for the year ended February 28, 2023, compared to RMB (104.0) million for the previous year, indicating a slight increase in financing costs[19]. Market and Strategic Initiatives - The retail environment remains challenging due to the impact of COVID-19 and inflationary pressures, yet the company is committed to adapting its strategies to maintain consumer engagement[30]. - The company has implemented a strategy to optimize its store network, closing underperforming stores while cautiously opening new ones, aiming to enhance overall operational efficiency[34]. - Online private domain sales showed the most significant year-on-year growth, reflecting a shift in consumer purchasing behavior towards digital platforms[32]. - The overall retail market is experiencing a polarization in demand, with a growing preference for both mass-market and niche high-end sports products[30]. - The company aims to actively pursue sustainable development and corporate social responsibility initiatives as part of its long-term strategy[43]. Employee and Governance - The group employed a total of 30,978 employees as of February 28, 2023, down from 40,913 employees in 2022[62]. - The remuneration committee is responsible for establishing transparent compensation policies for directors and senior management[69]. - The nomination committee evaluates board performance and recommends suitable candidates for directorship[70]. - The audit committee reviewed the consolidated financial statements for the year ended February 28, 2023[67]. - The external auditor confirmed that the preliminary performance announcement aligns with the audited financial statements for the year ended February 28, 2023[68].