Core Viewpoint - China Lilang (01234) reported a revenue of approximately RMB 3.544 billion for 2023, reflecting a year-on-year growth of 14.8% [1] Financial Performance - Gross profit reached approximately RMB 1.707 billion, up 20.2% year-on-year [1] - Annual profit was around RMB 530 million, marking an 18.4% increase year-on-year [1] - Earnings per share stood at 44.3 cents, with a proposed final dividend of 13 Hong Kong cents and a special final dividend of 5 Hong Kong cents [1] Sales Growth Drivers - Sales growth was primarily driven by the resumption of normal operations in all stores as social activities returned [1] - The light business segment saw a significant revenue increase of 35.2% due to the opening of new stores and a higher proportion of high-end series sales [1] - The main series revenue growth was constrained at 10.7% as distributors needed to digest inventory from 2022, with no rebates provided to distributors during the year [1] Retail Network and Distribution - The company continued to enhance its new retail business, optimizing the integration of online and offline marketing models [1] - As of the end of 2023, the company operated 296 self-managed light business stores and 2,393 main series stores, totaling 2,695 stores, a net increase of 51 stores year-on-year [1] - The company successfully established four profitable sales channels, enhancing store efficiency and overall profitability [1] Inventory Management - The company implemented a more robust inventory management system, opening 22 outlet stores and selling unsold seasonal products from other stores [1] - The sell-through rates for both main series and light business stores improved [1] - The new logistics park and smart logistics system effectively accelerated the distribution pace and improved inventory control efficiency [1] Future Outlook - For 2024, the company plans to add 100-200 new stores to expand retail scale and improve operational efficiency [1] - New store locations will focus on high-quality shopping centers in provincial capitals and prefecture-level cities, with an increase in outlet stores to clear inventory [1] - The company aims for a 20% year-on-year growth in new retail business through initiatives like Douyin live streaming, leveraging the complementary advantages of online and offline stores [1] - Overall sales growth is targeted at 15% for 2024 [1]
中国利郎(01234)公布2023年业绩 实现净利约5.3亿元 同比增长18.4% 拟每股派息18港仙