ZSCBGCL(000715)2024-12-19 12:31Financial Performance - Total sales in 2023 reached 32.4 billion yuan, a year-on-year increase of 28.1%, the highest since 2016 [2] - Non-GAAP net profit in 2023 was 1.32 billion yuan, a year-on-year increase of 57.4%, the highest since listing [2] - Total assets in 2023 were 25.69 billion yuan, a year-on-year increase of 6.91% [2] - Net assets in 2023 were 18.27 billion yuan, a year-on-year increase of 5.25% [2] - Total sales in the first three quarters of 2024 were 22.7 billion yuan, a year-on-year decrease of 6.6% [2] - Total profit in the first three quarters of 2024 was 735.93 million yuan, a year-on-year decrease of 29%, mainly due to employee stock ownership plan expenses [2] Store Operations and Strategy - The company has introduced 20 first stores in Northeast China, 26 first stores in Liaoning Province, and 36 first stores in Shenyang [4] - The company has successfully integrated resources to promote first shows, first exhibitions, and first releases, achieving significant social impact [4] - The company has launched the Shenyang Zhongxing Dinosaur Museum, the first dinosaur-themed museum in a commercial complex in China, with an exhibition area of over 3,000 square meters [4] - The company plans to replicate the dinosaur museum model and develop a unique dinosaur IP in the future [4] Employee Stock Ownership Plan - The company implemented its first employee stock ownership plan in 2023, which significantly boosted employee morale and contributed to the company's strong performance [4] - The employee stock ownership plan has a duration until 2026, with the possibility of further equity incentives or employee stock ownership plans in the future [4] - The employee stock ownership plan expenses for 2024 are approximately 33 million yuan, with expected expenses of around 10 million yuan in 2025 [4] Business Model and Future Plans - The company's business model is primarily based on joint operations, with joint operation categories accounting for over 85% of revenue [4] - The company has strong regional competitive advantages in outdoor sports, gold jewelry, watches, men's clothing, and international cosmetics [4] - In 2023, 12 brands ranked first in national sales, 130 brands ranked first in Northeast China sales, and 190 brands ranked first in provincial sales [4] - The company plans to continue focusing on its core business, innovate its business model, and explore new profit growth points, including accelerating the dinosaur museum project and expanding online operations [6]