BIEM(002832)2023-04-27 16:00Financial Performance - The company's operating revenue for 2022 was ¥2,884,841,760.82, representing a 6.06% increase from ¥2,719,989,257.14 in 2021[13]. - The net profit attributable to shareholders for 2022 was ¥727,597,822.61, a 16.50% increase compared to ¥624,541,483.00 in 2021[13]. - The basic earnings per share for 2022 was ¥1.28, reflecting an 11.30% increase from ¥1.15 in 2021[13]. - The total assets at the end of 2022 amounted to ¥5,578,885,921.48, a 14.72% increase from ¥4,862,956,852.42 at the end of 2021[13]. - The net assets attributable to shareholders at the end of 2022 were ¥4,130,033,512.93, up 27.26% from ¥3,245,441,596.49 at the end of 2021[13]. - The company achieved total revenue of 2.885 billion yuan in the reporting period, representing a year-on-year growth of 6.06%[50]. - The operating profit reached 855 million yuan, an increase of 15.93% compared to the previous year[50]. - The net profit attributable to shareholders was 728 million yuan, reflecting a growth of 16.5% year-on-year[50]. - The apparel segment accounted for 100% of total revenue, with the upper garment category generating ¥1,262,647,306.22, a 9.30% increase from the previous year[71]. - The total revenue for 2022 reached ¥2,884,841,760.82, representing a year-on-year increase of 6.06% compared to ¥2,719,989,257.14 in 2021[71]. Market and Industry Trends - The global luxury goods market grew by 17% in 2022, reaching a market size of ¥25,450 billion, with China's luxury market accounting for 38% of the global total at ¥9,560 billion[21]. - The retail sales of clothing in China for January-February 2023 reached ¥1,894.8 billion, showing a year-on-year growth of 6.4%, which is an increase of 14.1 percentage points compared to the full year of 2022[22]. - The outdoor sports market in China has seen significant growth, with the camping industry maintaining growth rates of 22.2% and 62.5% in 2020 and 2021, respectively, and a 18.6% increase in 2022, reaching a market size of 35.46 billion RMB[24]. - The Chinese camping economy is projected to reach a core market size of 248.32 billion RMB by 2025, contributing to an overall outdoor sports industry target of over 3 trillion RMB by the same year[24]. Business Strategy and Operations - The company plans to expand its market presence in the high-end menswear segment, capitalizing on the growing recognition of product quality and brand value[23]. - The company focuses on high-end fashion sports apparel, with a commitment to innovation and a mission to create lasting value for consumers, aiming to become a century-old renowned apparel group[27]. - The company has adopted a multi-brand development strategy, with brands including Biyinlefen, Biyinlefen Golf, and Venice Carnival, targeting different market segments[28]. - The company employs a "U-shaped smile curve" business model, focusing on high-value activities such as product design and brand operation while outsourcing lower-value production and logistics[36]. - The company has established a comprehensive sales model that integrates online and offline channels, with flagship stores on major e-commerce platforms and a strong presence in first and second-tier cities[40]. - The company has established a digital new retail strategy, enhancing online and offline channel integration to improve customer experience[47]. - The company has launched a strategic upgrade focusing on the core category of T-shirts, establishing the new slogan "T-shirt Expert" to enhance market space[103]. Research and Development - The company continues to invest heavily in R&D, integrating high-quality international fabric resources and cultivating a design team with international vision[58]. - The company holds 143 patents, indicating a strong commitment to innovation and product development[46]. - R&D investment increased by 20.14% to ¥100,182,947.69 in 2022, representing 3.47% of operating revenue, up from 3.07% in 2021[106]. - The number of R&D personnel rose to 207 in 2022, a 0.98% increase from 205 in 2021, with a proportion of 6.26% of total employees[106]. Corporate Governance - The company has established a robust corporate governance structure, with the shareholder meeting, board of directors, and supervisory board operating in accordance with legal regulations[152]. - The company maintains a clear separation of financial operations from its controlling shareholders, ensuring independent financial decision-making[153]. - The company has a structured approach to the appointment and remuneration of its board members and senior management, ensuring accountability and performance alignment[167]. - The company has a diverse board with members holding various significant positions in industry associations and educational institutions[165][166]. - The company has appointed independent directors with extensive experience in accounting and finance, enhancing governance and oversight[161]. Employee Management - The total number of employees at the end of the reporting period was 3,302, including 533 at the parent company and 2,769 at major subsidiaries[177]. - The employee composition included 2,756 sales personnel, 164 administrative staff, 303 operational staff, and 79 R&D design personnel[179]. - The company has implemented a competitive salary policy that is performance-oriented and adjusts dynamically with business performance[180]. - The company conducted various training programs, including nationwide new product training and management training, to enhance employee skills[181]. Financial Management - The company has engaged Huaxing Accounting Firm for auditing services during the reporting period[12]. - The company has not reported any discrepancies between financial reports under international and Chinese accounting standards[14][15]. - The company reported non-recurring gains of ¥57,018,928.29 in 2022, which included income from financial products[18]. - The company has a total of RMB 130,310.63 in committed investment projects, with RMB 25,689.67 invested during the reporting period[119]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report[4]. - The company faces risks related to outsourcing production, which could affect product quality and delivery times, and is implementing measures to mitigate these risks[137]. - The company maintained a focus on risk management, with the supervisory board reporting no significant risks identified during the reporting period[176].