Ruyi Group(SZ:002193)2022-11-22 03:06Financial Performance - The parent company's revenue for 2020 was 620.94 million CNY, with a total profit of 564.90 million CNY [2] - The total liabilities of the parent company amounted to 1.85888 billion CNY [2] - The asset-liability ratio of the parent company is 43.47%, indicating no issues with debt repayment [5] Market Challenges - The company's performance was significantly impacted by the COVID-19 pandemic, leading to a decrease in sales and profits [4] - The decline in revenue was attributed to a global economic downturn and increased competition in the industry [4] - The company faced a reduction in orders for professional clothing due to delays in bidding plans [4] Strategic Responses - The company is focusing on enhancing its core competitiveness and profitability to provide stable returns to investors [6] - Plans are in place to extend the industrial chain and implement a transformation towards high-end positioning and technological innovation [5] - The company is actively communicating with financial institutions to adjust debt structures and reduce loan interest rates [2] Investor Relations - The company has not yet initiated a stock buyback plan but will disclose any future intentions [3] - The management expressed confidence in the company's strategic direction and commitment to maximizing shareholder returns [2] - The company has distributed cash dividends amounting to 51.39% of the net profit attributable to shareholders in 2020 [6] Future Outlook - The company is working on a plan to acquire brand assets from major shareholders to enhance its market position [3] - The IPO process for the Lycra brand is underway, with updates to be disclosed as progress is made [8] - The management reassured investors that the current challenges faced by the major shareholder do not significantly impact the company [7]