Winka Times(603101)2025-04-03 14:50Financial Performance - The company's operating revenue for 2024 was RMB 2,409,322,880.59, a decrease of 3.40% compared to RMB 2,494,205,307.71 in 2023[23]. - The net profit attributable to shareholders for 2024 was RMB 58,362,211.19, representing a significant decline of 63.87% from RMB 161,516,282.74 in 2023[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 27,573,843.76, down 78.14% from RMB 126,130,816.17 in the previous year[23]. - The cash flow from operating activities for 2024 was RMB 424,758,894.77, a decrease of 9.27% compared to RMB 468,159,022.85 in 2023[23]. - Basic earnings per share for 2024 is 0.1243 yuan, a decrease of 63.80% compared to 0.3434 yuan in 2023[24]. - The weighted average return on equity decreased by 7.61 percentage points to 4.10% in 2024 from 11.71% in 2023[25]. - The gross profit margin for the main business was 34.00%, a decrease from 37.51% in the previous year[44]. - The self-operated supermarket segment generated revenue of 131,028.24 million RMB, with a gross margin of 14.84%[44]. - The company reported a decrease in operating cash flow, with a net cash flow from operating activities of 424,758,894.77 RMB, down 9.27% year-on-year[47]. - The overall decline in revenue is attributed to market consumption downgrade and reduced consumer spending willingness[47]. Assets and Liabilities - The total assets at the end of 2024 were RMB 4,628,653,434.10, an increase of 8.35% from RMB 4,271,750,335.51 at the end of 2023[23]. - The total liabilities increased by 50.47% to CNY 450,835,616.10 compared to the previous period[60]. - The company's equity attributable to shareholders decreased to CNY 1,383,620,767.63 from CNY 1,459,078,444.54, a decline of about 5.2%[186]. - Total current liabilities amounted to CNY 2,874,573,538.47, compared to CNY 2,449,039,608.41, reflecting an increase of approximately 17.4%[185]. - The company's retained earnings decreased to CNY 600,258,497.81 from CNY 732,289,760.00, a decline of about 18%[186]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.05 per share, totaling RMB 23,266,878.40, which accounts for 39.87% of the net profit attributable to shareholders for 2024[7]. - The total cash dividend for 2024, including share repurchase for employee stock ownership plans, is projected to be RMB 33,082,981.32, representing 56.69% of the net profit attributable to shareholders[8]. - The company completed its 2023 annual profit distribution in July 2024, with a dividend of 2.56 CNY per 10 shares, totaling 120 million CNY, which accounts for 74.56% of the 2023 net profit[91]. - The cash dividend payout ratio was 39.87% of the net profit attributable to ordinary shareholders[121]. Business Operations and Strategy - The company opened a new supermarket and a managed shopping center in Hami City, contributing to an increase in daily foot traffic exceeding 3,000[32]. - The company introduced 27 new brands in 2024 and adjusted 723 existing brands, enhancing customer satisfaction and loyalty[32]. - The company implemented a supply chain optimization strategy, improving product turnover efficiency and reducing operational costs[33]. - The company aims to enhance customer experience through personalized services and promotional activities, driving consumer demand[33]. - The company plans to continue integrating digital tools to improve operational efficiency and reduce costs[31]. - The company achieved a total of 135,700 new members during the reporting period, focusing on personalized services and differentiated marketing to enhance customer satisfaction and loyalty[34]. - The company improved its digital retail system and utilized platforms like Xiaohongshu and Douyin for targeted marketing, enhancing online engagement with consumers[34]. - The company is actively expanding its online presence through various digital platforms, including live streaming sales[43]. - The company is focusing on digital transformation and utilizing big data for personalized marketing and inventory management[77]. Market and Industry Trends - The retail industry is undergoing rapid transformation, with a national retail sales growth of 3.5% year-on-year, driven by digitalization and changing consumer behaviors[39]. - The retail sector is projected to see a steady increase in total retail sales of consumer goods in 2024, indicating a gradual recovery in consumption[63]. - The company is actively participating in the low-altitude economy development in collaboration with Xinjiang General Aviation, focusing on customized agriculture and low-altitude logistics[38]. - The company maintains a diversified business model, including joint ventures, self-operated, and leasing operations, to optimize revenue streams[42]. Governance and Compliance - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements and promoting effective decision-making[90]. - The company maintains a complete and independent business system, ensuring no interference from the controlling shareholder in decision-making and operational activities[90]. - The company emphasizes investor relations management, providing timely responses to investor inquiries through various channels, enhancing information transparency[91]. - The company has established a stable profit distribution mechanism to ensure continuous and stable returns to investors[91]. - The company has not encountered any insider trading issues during the reporting period, maintaining strict adherence to insider information regulations[91]. - The company has established several specialized committees, including the Audit Committee and the Strategic Committee, to enhance governance[104]. Employee and Training Initiatives - Over 2,000 employees received training through a multi-level training system, which included various skill enhancement programs, contributing to overall employee performance[35]. - The company organized skill competitions with over 300 participants, distributing nearly 40,000 yuan in prizes to boost employee skills and cultural understanding[36]. - The company has implemented a training program to enhance employee skills and overall quality, including various training categories and an online learning platform[114]. - A focus on building a diverse talent pool is essential for sustaining growth and stability in the company's operations[87]. Risk Management - The company has outlined potential risks related to its future development in the management discussion section of the report[11]. - The company is aware of risks related to changes in national policies and consumer trends, which could impact operational performance[85]. - Increased competition in the retail sector is a concern, with potential threats from new entrants and aggressive market strategies from competitors[85]. Sustainability and Social Responsibility - The company invested approximately 105.49 million in public welfare donations, benefiting around 6,000 individuals[135]. - The total investment in poverty alleviation and rural revitalization projects was approximately 12.81 million, benefiting around 2,000 individuals[136]. - The company actively promotes green operations and has implemented various measures to reduce carbon emissions[133]. - The company does not fall under the category of key pollutant discharge units and adheres to national environmental management regulations[131].