Youhao Group(600778)2023-04-26 16:00Financial Performance - In 2022, the company reported a net profit of -218,342,076.75 RMB, a significant decline compared to -50,523,095.53 RMB in 2021, indicating a worsening financial performance[21]. - Total revenue for 2022 was 1,440,209,648.95 RMB, down 27% from 1,972,755,618.83 RMB in 2021[21]. - The company's net cash flow from operating activities decreased by 61.83% to 91,481,099.86 RMB, compared to 239,671,760.15 RMB in the previous year[21]. - The total assets of the company at the end of 2022 were 4,254,841,663.10 RMB, a decrease of 15.46% from 5,032,835,331.48 RMB in 2021[21]. - The company's net assets attributable to shareholders fell by 39.46% to 333,630,181.01 RMB from 551,128,649.16 RMB in 2021[21]. - Basic earnings per share for 2022 were -0.7010 RMB, compared to -0.1622 RMB in 2021, reflecting a decline in profitability[22]. - The weighted average return on equity decreased to -49.36% in 2022 from -8.77% in 2021, indicating a significant drop in financial efficiency[22]. - The net profit attributable to shareholders was RMB -215,542,970.75, compared to a profit of RMB 66,155,891.68 in 2021[28]. - The company reported a total of RMB 71,450,253.79 in non-recurring gains and losses for 2022, a significant improvement from the previous year's loss of RMB 29,082,497.74[26]. - The company reported a net profit decrease for several subsidiaries, including a 14.25 million yuan loss from land and property disposals in the previous year[79]. Revenue and Sales - In 2022, the company's operating revenue was RMB 1,440,209,648.95, a decrease of 30.1% compared to the previous year[30]. - The company achieved operating revenue of CNY 1,440,209,648.95, a decrease of 27.00% compared to the previous year's CNY 1,972,755,618.83[40]. - The company's self-operated sales revenue was CNY 818.76 million, down 18.44% year-on-year[45]. - The company's convenience store segment experienced a sales decline of 20.96% compared to the previous year, with an annual sales revenue of 5,516.10 RMB per square meter[67]. - The retail sales in Xinjiang decreased by 9.6% in 2022, indicating a challenging market environment[33]. - The company's retail sales in Urumqi decreased by 29.02%, with a gross profit margin of 16.47%[44]. - The average sales per square meter for department stores decreased by 31.57% to 24,142.46 RMB, while shopping centers saw a decline of 25.99% to 4,685.31 RMB[67]. Operational Changes - The company introduced 124 new brands and eliminated 237 brands in its department store segment during 2022[30]. - The company conducted 11 large-scale marketing events throughout the year to adapt to changing consumer demands[31]. - The company has shifted its business model to focus more on leasing, gradually increasing the proportion of leased operations[37]. - The company has established long-term stable partnerships with numerous suppliers and merchants, enhancing its strategic resources for sustainable development[37]. - The company has implemented strategies to manage inventory, including promotional activities to clear excess stock and increase cash flow[72]. - The company plans to adjust its logistics center design based on smart logistics trends and market demand, with construction to be advanced as conditions allow[75]. Market Outlook - The outlook for 2023 suggests a significant rebound in national consumption, with expectations for increased consumer spending driving economic growth[35]. - The company plans for a certain increase in operating revenue in 2023, excluding non-comparable factors related to store changes[85]. - The company is focusing on attracting new customer groups and enhancing market competitiveness through strategic brand adjustments and innovative consumption scenarios[86]. - The company is committed to expanding its product categories, particularly in pre-packaged and organic foods, to meet changing consumer demands[87]. - The company provided a positive outlook for 2023, projecting a revenue growth of 10% to 12% driven by new product launches and market expansion strategies[105]. Governance and Compliance - The company held a total of 4 shareholder meetings during the reporting period, ensuring compliance with legal and regulatory requirements to protect the rights of all shareholders, especially minority shareholders[99]. - The board of directors consists of 9 members, including 4 independent directors, ensuring a fair and transparent election process and adherence to legal requirements[93]. - The supervisory board held 5 meetings during the reporting period, fulfilling its oversight responsibilities regarding the company's financial status and compliance of management actions[94]. - The company has established independent operational and management models to ensure its independence from the controlling shareholder, Dashi Group[95]. - The company has improved its governance structure and internal control systems in compliance with relevant laws and regulations, enhancing operational quality[92]. - The company actively engages with investors through various communication channels, including performance briefings and online Q&A sessions[94]. Social Responsibility and Community Engagement - The company made a total social responsibility investment of 1.179 million yuan, with 1.179 million yuan allocated for material donations to specific villages[139]. - The company created 195 new jobs during the reporting period, including 141 positions for college graduates, contributing to local economic development[142]. - A total of 355,300 yuan was invested in poverty alleviation and rural revitalization projects, including 101,200 yuan for educational support benefiting 143 students[143]. - The company has actively participated in social welfare activities, including donations for education and assistance to underprivileged communities[142]. Financial Audit and Reporting - The audit opinion confirmed that the financial statements fairly reflect the financial position and operating results of Youhao Group as of December 31, 2022[188]. - The financial report was prepared in accordance with the accounting standards, ensuring fair representation of the company's financial status[188]. - The management is responsible for maintaining necessary internal controls to prevent material misstatements in the financial statements[193]. - The internal control systems related to sales cycles were evaluated and tested for effectiveness during the audit[190]. Employee and Management Structure - The total number of employees in the parent company is 2,486, with a combined total of 2,775 employees including major subsidiaries[123]. - The company has 1,520 sales personnel, 268 technical personnel, 139 financial personnel, and 848 administrative personnel[123]. - The total remuneration for the board members and senior management during the reporting period amounted to CNY 742.39 million[101]. - The company appointed a new deputy general manager and chief accountant during the reporting period[112]. Strategic Initiatives - The company is focused on expanding its market presence and enhancing its product offerings[110]. - The company has made strategic decisions regarding mergers and acquisitions to strengthen its market position[110]. - The company is committed to improving operational efficiency and financial performance[110]. - The company plans to continue its expansion strategy in the coming years[110].