Youngor(600177)2022-04-25 16:00Financial Performance - The company's net profit for 2021 was ¥3,984,775,259.62, with a statutory reserve of ¥384,162,377.63[20]. - The total cash dividend for 2021 amounted to ¥2,708,008,028.59, representing 52.82% of the net profit attributable to shareholders[19]. - The net profit attributable to shareholders decreased by 29.15% to approximately CNY 5.13 billion in 2021[37]. - The net profit after deducting non-recurring gains and losses increased by 41.34% to approximately CNY 4.44 billion[37]. - The company's operating revenue for 2021 was approximately CNY 13.61 billion, an increase of 18.57% compared to 2020[37]. - The basic earnings per share for 2021 was CNY 1.13, down 27.56% from 2020[38]. - The weighted average return on equity decreased by 9.86 percentage points to 16.17%[38]. - The total distributable profit at the end of the period was ¥22,393,882,882.72[20]. Shareholder Returns - The board proposed a cash dividend of 0.50 yuan per share (before tax), based on a total share capital of 4,629,002,973 shares as of December 31, 2021, resulting in a total cash dividend distribution of 2,311,820,951 yuan (before tax), which accounts for 45.09% of the net profit attributable to shareholders for the year 2021[21]. - The total amount spent on share repurchase in 2021 was ¥396,187,077.59, which is included in the cash dividend calculation for the year[19]. - No bonus shares will be issued, nor will there be a capital reserve fund conversion into share capital for the current year[21]. Strategic Initiatives - The company is focusing on multi-brand strategies and has begun to independently operate its brands to enhance growth potential[5]. - The company is exploring acquisitions and collaborations with domestic and international brands, including sports and trendy brands like HH and UND[5]. - The company aims to enhance management through digital transformation, achieving standardization, automation, and intelligence in its operations[6]. - The company is committed to integrating online and offline channels to strengthen brand management and adapt to market changes[6]. - The past year has been a transformative period for the company, requiring continuous innovation and adaptation in strategy and tactics[5]. - The company is entering a new phase of innovation and entrepreneurship, focusing on sustainable growth and social responsibility[6]. Real Estate Segment - The real estate segment achieved a net profit attributable to shareholders of approximately CNY 1.75 billion, a growth of 39.50% year-on-year[40]. - The net cash outflow from the real estate sector was approximately CNY 1.34 billion, a significant increase in net outflow compared to the previous year[40]. - The real estate segment generated operating revenue of RMB 666,540.76 million, up 31.44% year-on-year, with a net profit attributable to shareholders of RMB 228,925.07 million, an increase of 38.17%[85]. - The company has 13 ongoing projects with a total construction area of 1,443,700 square meters and land reserves of 258,500 square meters, with planned development area of 668,800 square meters[73]. Fashion Segment - The fashion segment generated revenue of RMB 682,112.21 million, with a year-on-year growth of 7.69%[50]. - The fashion segment reported operating revenue of RMB 682,112.21 million, a growth of 7.69%, with a net profit of RMB 93,577.43 million, down 2.55%[85]. - The company established YOUNGOR Fashion (Shanghai) Technology Co., Ltd. to enhance brand influence and explore international collaborations[51]. - The company acquired a 40% stake in the American streetwear brand Undefeated, forming a joint venture to target younger consumer groups[51]. Online and Offline Integration - The company has optimized its store network, reducing the total number of outlets by 205 to 2,166, while enhancing the efficiency of its retail structure[69]. - The online GMV surpassed 1 billion yuan, with the company's Tmall flagship store ranking first in men's business apparel during major promotional events[69]. - Online sales revenue reached ¥72,518.27 million with a gross margin of 68.27%, while offline sales revenue was ¥521,307.74 million with a gross margin of 74.84%[116]. Research and Development - The total R&D expenditure amounted to 6,993.13 million, representing 0.51% of total revenue, with no capitalized R&D expenses[98]. - The total number of R&D personnel is 669, accounting for 3.51% of the company's total workforce[99]. - The company has 43 R&D projects planned for 2021, focusing on innovations such as wrinkle-resistant shirts and antibacterial fabrics[102]. - The company has completed 20 technology improvement projects in the textile materials research institute, including seamless pressing technology and intelligent temperature control[101]. Environmental and Compliance - The company has adhered to environmental protection laws and regulations, ensuring compliance in its operations and projects[179]. - The company has implemented a wastewater treatment facility with a daily capacity of 1,000 tons, achieving compliance with the textile dyeing industry's wastewater discharge standards[176]. - Actual wastewater discharge for CODcr was 3.79 tons per annum, well below the standard limit of 200 mg/l, indicating effective pollution control measures[175]. - The company has publicly disclosed its environmental monitoring data through the national pollution source monitoring platform, promoting transparency[179]. Corporate Governance - The company held 1 annual and 1 extraordinary shareholders' meeting, ensuring compliance with legal procedures and protecting minority shareholders' rights[135]. - The board of directors convened 10 meetings, reviewing 38 proposals, with 3 independent directors ensuring objective decision-making[137]. - The company has established independent operational capabilities, ensuring no reliance on the controlling shareholder in business, personnel, and financial matters[143]. - The company has a structured management team with clear roles and responsibilities outlined for each member[146]. Employee Management - The total number of employees at the parent company and major subsidiaries is 19,034, with 210 at the parent company and 18,824 at subsidiaries[160]. - The employee composition includes 5,660 production staff, 8,845 sales personnel, and 669 technical staff[161]. - The company has a diverse salary system that combines position-based pay and performance rewards, enhancing employee satisfaction and loyalty[163]. - The company has conducted internal training programs focusing on management skills, professional skills, and safety training for employees[164].