BUSEN(SZ:002569)2022-05-18 16:00Financial Performance - The company reported a total revenue of 1.2 billion RMB for the year 2021, representing a year-on-year increase of 15%[17]. - The net profit attributable to shareholders was 150 million RMB, a decrease of 10% compared to the previous year[17]. - Future guidance indicates a revenue target of 1.5 billion RMB for 2022, reflecting a growth rate of 25%[7]. - The company reported a net profit margin of 10% for the fiscal year 2021, reflecting improved operational efficiency[120]. - The company reported a total revenue of 3,132 million in the fiscal year 2021, showing a growth compared to the previous year[120]. - The company’s total capacity increased to 630,000 pieces, with a capacity utilization rate of 95.00%[57]. - The company’s total assets at the end of 2021 were CNY 382,518,666.52, a decrease of 2.08% from CNY 390,644,553.37 at the end of 2020[23]. - The company reported a net cash flow from operating activities of CNY -31,852,225.11 in 2021, worsening by 156.11% from CNY -12,436,782.51 in 2020[23]. - The company reported a significant increase in user data, with a total of 500,000 active users reported[122]. - The company aims to enhance its online sales channels, targeting a 20% increase in e-commerce revenue in the upcoming year[122]. Investment and Development - The company plans to invest 200 million RMB in new product development and technology research in 2022[7]. - The company is exploring partnerships with international brands to diversify its product offerings and enhance brand visibility[7]. - The company plans to conduct a non-public offering of A-shares, with a focus on fundraising for future projects and shareholder return planning for 2021-2023[116]. - The company plans to invest in strategic acquisitions to bolster its market position and diversify its product portfolio[122]. - The company aims to upgrade its apparel business and expand into the fashion new retail industry, focusing on men's fashion as a core area[91]. Market Strategy - The company has outlined a market expansion strategy targeting tier-2 and tier-3 cities, aiming for a 30% increase in market share over the next three years[7]. - The company is focusing on expanding its market presence, particularly in the semiconductor and technology sectors, to enhance its product offerings[122]. - The company is actively engaging in the development of new products and technologies to drive future growth[141]. - The company is focusing on market expansion through strategic partnerships and joint ventures[132]. - The company aims to improve operational efficiency through better management of goods, retail, performance, and supply chains[92]. Corporate Governance - The company maintains complete independence from its controlling shareholders in terms of assets, personnel, finance, and operations, with no related party transactions or competition[110]. - The company has established a robust corporate governance framework that complies with modern enterprise system requirements, enhancing operational efficiency and asset security[111]. - The company has a clear policy against related party transactions that could harm the interests of the company and its minority shareholders[178]. - The company emphasizes compliance with regulations set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange to protect the interests of minority shareholders[174]. - The company has committed to ensuring the independence of its management personnel and has fulfilled this commitment normally during the reporting period[168]. Operational Challenges - The company faces significant market competition risks due to a saturated men's clothing market, leading to increased operational pressures[96]. - Rising labor costs pose a risk, with the minimum wage in Shaoxing adjusted to 2,070 yuan per month, impacting overall operational costs[97]. - The ongoing COVID-19 pandemic presents operational risks, affecting production and logistics stability, which the company plans to mitigate through market analysis and channel expansion[100]. - The company is taking measures to address litigation issues to protect its legal rights and minimize potential losses[190]. Sales Performance - Online sales increased by 67.64% to CNY 1,752,546.45, while direct sales decreased by 40.67% to CNY 29,312,695.71[44]. - The company maintained a strong domestic sales performance, with internal sales reaching CNY 267,889,036.50, up 15.31% from the previous year[46]. - The total sales volume for 2021 was 1,615,360 pieces, a decrease of 14.90% compared to 2020[47]. - The gross profit margin for the clothing manufacturing sector was 48.03%, a decrease of 32.13% year-on-year[46]. Employee and Management - The total number of employees at the end of the reporting period was 683, with 433 in the parent company and 250 in major subsidiaries[145]. - The company has established a comprehensive salary management system, including fixed salary, performance salary, and welfare allowances[147]. - The company has implemented a training plan focusing on basic knowledge, professional skills, management enhancement, and vocational quality[148]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 4.6023 million CNY[130]. Compliance and Legal Matters - The company received a warning and a fine of 500,000 RMB from the China Securities Regulatory Commission due to information disclosure violations[6]. - The company strictly adheres to legal regulations for information disclosure, ensuring timely and accurate communication with investors[108]. - The company has no reported penalties from securities regulatory agencies for directors, supervisors, and senior management in the past three years[126]. - The company has no significant litigation or arbitration matters that would impact its financial position[197].