Fuanna(002327)2022-04-22 16:00Financial Performance - The company's operating revenue for 2021 was ¥3,179,282,836.06, representing a 10.62% increase compared to ¥2,874,049,807.28 in 2020[23] - The net profit attributable to shareholders for 2021 was ¥545,866,740.77, which is a 5.69% increase from ¥516,462,867.24 in 2020[23] - The net cash flow from operating activities for 2021 was ¥774,941,886.08, showing a 16.34% increase from ¥666,095,033.41 in 2020[23] - The basic earnings per share for 2021 was ¥0.67, an increase of 8.06% compared to ¥0.62 in 2020[23] - The total assets at the end of 2021 were ¥4,712,551,749.03, reflecting a 5.19% increase from ¥4,480,016,554.77 at the end of 2020[23] - The net assets attributable to shareholders at the end of 2021 were ¥3,699,747,559.99, up 3.37% from ¥3,579,136,181.35 at the end of 2020[23] - The company reported a weighted average return on equity of 15.73% for 2021, an increase from 14.27% in 2020[23] - The net profit after deducting non-recurring gains and losses for 2021 was ¥516,091,454.68, which is a 7.01% increase from ¥482,261,893.11 in 2020[23] Revenue Breakdown - E-commerce revenue accounted for 41.63% of total revenue in 2021, with a year-on-year growth of 16.64% and a gross margin of 46.19%[68] - The textile segment accounted for ¥3,079,711,954.60, or 96.87% of total revenue, with a year-on-year growth of 10.50%[97] - E-commerce sales contributed ¥1,323,406,426.28, making up 41.63% of total revenue, with a growth rate of 16.64% compared to the previous year[97] - The company’s direct sales revenue accounted for approximately 24.13% of total revenue, while franchise revenue contributed about 25.61%[56] Cost and Expenses - The total operating cost for the home textile/furniture industry in 2021 was approximately ¥1,524,000,000, with a year-on-year increase of 15.06% compared to 2020[105] - The material cost accounted for 78.36% of the total operating cost in 2021, amounting to ¥1,192,343,396.40, up from 77.70% in 2020[105] - The total sales expenses for 2021 were ¥734,101,776.46, reflecting a year-on-year increase of 7.87%[114] Market Presence and Strategy - The company has achieved a membership base of 1.3 million in its direct sales stores, enhancing its market presence in first and second-tier cities[48] - The company plans to continue expanding its e-commerce presence and direct store network to enhance market reach and customer engagement[99] - The company is focusing on personalized product offerings to better connect with consumers, which is expected to drive future sales growth[45] - The company anticipates that the concentration of the textile and apparel industry will increase, benefiting strong brands like itself in gaining market share[45] Research and Development - The company invested in product development focusing on material and design innovation, introducing functional fabrics and seasonal products[58] - Research and development expenses for 2021 were ¥75,998,343.38, representing an increase of 8.30% compared to 2020[114] - The company has invested in R&D projects, including the development of a new type of natural fiber blended fabric aimed at enhancing comfort and user experience[130] - The number of R&D personnel increased by 8.96% from 268 in 2020 to 292 in 2021, representing 6.33% of the total workforce[133] Supply Chain and Logistics - The company has implemented a comprehensive supply chain quality management system, ensuring quality control from product development to consumer delivery[81] - The company has a total warehouse area of nearly 210,000 square meters, enhancing logistics efficiency and reducing transportation costs[84] - The company is actively monitoring raw material price trends and has established strong relationships with multiple suppliers to mitigate cost pressures[50] Corporate Governance - The company emphasizes compliance with corporate governance regulations to protect shareholder interests[184] - The company has a structured board with independent directors to enhance decision-making effectiveness[187] - The company maintains an independent business system, fully capable of self-operation, independent from the controlling shareholder[196] - The company has established a transparent performance evaluation and incentive mechanism for its executives[192] Investment and Fund Management - The total amount of raised funds was CNY 73,497.23 million, with CNY 211.69 million utilized in the current period and a cumulative utilization of CNY 63,549.37 million[151] - The company has not engaged in any significant equity or non-equity investments during the reporting period[148][149] - The company has not made any changes to the feasibility of its investment projects during the reporting period[156] Future Outlook - The company plans to continue enhancing its product design and technological content to offset rising manufacturing costs and maintain profitability[50] - The company aims to enhance store efficiency in first and second-tier cities while targeting market penetration in third and fourth-tier cities[176] - Increased investment in live streaming channels, including self-broadcasting and collaborations with influencers[177]