Financial Performance - Revenue for the year ended February 29, 2024, was RMB 401.4 million, a decrease of 2.9% compared to RMB 413.2 million for the year ended February 28, 2023[6]. - Consolidated loss attributable to owners of the company improved to RMB (23.5) million from RMB (50.3) million year-on-year[6]. - Basic losses per share decreased to RMB (3.34) cents from RMB (7.12) cents[6]. - Total equity as of February 29, 2024, was RMB 618.1 million, down 6.9% from RMB 663.6 million[6]. - Net cash balances were RMB 364.7 million, a slight decrease of 1.9% from RMB 371.6 million[6]. - Net asset value per share decreased to RMB 0.88 from RMB 0.94, reflecting a 6.9% decline[6]. - Consolidated gross profit decreased by 6.8% year-on-year to RMB 250,800,000, with a gross profit margin of 62.5%, down 2.7 percentage points from the previous year[75]. - Selling and distribution expenses decreased by 14.7% year-on-year to RMB 204,800,000, with the ratio of these expenses to total revenue decreasing by 7.1 percentage points to 51.0%[80]. - General and administrative expenses decreased by 3.3% to RMB 84,000,000 compared to RMB 86,900,000 in the previous year, with the ratio to total revenue decreasing by 0.1 percentage points to 20.9%[83]. - Other income fell by 58.1% year-on-year to RMB 2,300,000, down from RMB 5,500,000, primarily due to a sluggish retail market[84]. - The Group's overall retail revenue decreased by 2.9% to RMB 401,400,000 compared to RMB 413,200,000 in the previous year[106]. - Annual same store sales increased by 11.7%, a significant improvement from a decline of 27.7% in the previous year[106]. Market and Sales Strategy - The overall recovery pace of the market was slower than expected due to issues such as domestic real estate debts and rising unemployment rates among young people[43]. - The Group is investing more resources in CRM systems and mini app stores to improve customer relationship management and increase VIP member loyalty[51]. - The Group's marketing plans are designed to meet the diversified demands of its target customer base and improve brand loyalty[43]. - The Group is focusing on innovative operational management to meet changing customer design needs and strengthen brand influence[62]. - The Group is expanding its e-commerce presence on platforms like Douyin, WeChat, and Xiaohongshu to reach more potential consumers[48]. - The Group is scrutinizing the performance of existing stores, closing underperforming ones while renewing leases for profitable locations[50]. - The Group's long-term cooperation with JD.com has resulted in mutual benefits and won the "2023 Big Brand Outlet Award" from JD.com's fashion division, showcasing successful strategic synergy[127]. - The Group is actively reviewing e-commerce business expenses and reallocating resources to platforms with higher traffic and sales volume[124]. - The Group's overall revenue from e-commerce business declined by 8.6% year-on-year due to various challenges including sluggish consumer sentiment and rising product return rates[130]. Corporate Strategy and Governance - The Group's corporate strategy focuses on "striving for progress while ensuring stability" to consolidate its core advantages in shoe-making and further develop its brands[43]. - The Group's sustainable corporate strategies include green growth, technology development, innovative management, and staff development[56]. - The Group's management is committed to enhancing corporate governance practices to align with statutory and professional standards[186]. - The Board is focused on protecting the interests of shareholders and creating value through improved operational transparency[186]. - The management has established four main sustainable corporate strategies: green growth, technological development, innovative operational management, and employee development, which have been reviewed and approved by the board[197]. Employee and Operational Management - The Group aims to enhance employee development through customized training programs and a comprehensive promotion system[66]. - The Group's total employee benefit expenses for the twelve months ended 29 February 2024 amounted to RMB 121,700,000, a decrease from RMB 135,900,000 in the previous year[155]. - The Group had a full-time staff force of 927 people as of 29 February 2024, down from 1,120 people the previous year[155]. - The Group is committed to finding experienced talents and retaining outstanding employees to enhance its competitive advantage[145]. - The Group's management approach to corporate culture includes factors such as employee engagement, retention, training, and compliance with laws and regulations[195]. Future Outlook - The Chairman expressed optimism for 2024, highlighting the readiness to seize opportunities in a complex retail market[71]. - The Group is cautiously optimistic about future economic growth in Mainland China and will adjust marketing strategies based on domestic policy trends[135]. - The Group plans to utilize online and offline resources, along with its existing VIP member database, to create a controllable traffic system to enhance brand value[142].
莱尔斯丹(00738) - 2024 - 年度财报