BUSEN(SZ:002569)2024-04-29 17:44Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the year, representing a growth of 15% compared to the previous year[2]. - The company has provided a positive outlook for 2024, projecting a revenue growth of 10% to 1.32 billion RMB[2]. - The company's operating revenue for 2023 was ¥144,082,242.84, an increase of 4.17% compared to ¥138,315,708.87 in 2022[22]. - The net profit attributable to shareholders was -¥66,998,298.08, a 5.53% improvement from -¥70,923,634.51 in the previous year[22]. - The total assets at the end of 2023 were ¥236,666,081.33, down 19.94% from ¥295,617,461.24 at the end of 2022[22]. - The company's net assets attributable to shareholders decreased by 42.17% to ¥91,871,819.30 from ¥158,864,619.10 in 2022[22]. - The company reported a basic earnings per share of -¥0.48, a slight improvement of 2.04% from -¥0.49 in 2022[22]. - The company reported a net loss of 68.93 million yuan for 2023, with negative cash flow from operating activities for three consecutive years[173]. User Engagement and Market Expansion - User data indicates a rise in active users by 20%, reaching 5 million users by the end of 2023[2]. - The company is focusing on market expansion, targeting a 25% increase in its retail presence across key cities in China[2]. - The company plans to enhance its online sales platform, aiming for a 30% increase in e-commerce revenue[158]. - The company is exploring new retail strategies to integrate online and offline sales channels, aiming to enhance overall market competitiveness[42]. Product Development and Innovation - New product launches are expected to contribute an additional 200 million RMB in revenue in the upcoming year[2]. - Research and development investments have increased by 30%, totaling 150 million RMB, aimed at enhancing product innovation[2]. - The company is investing 50 million RMB in R&D for innovative textile technologies aimed at improving product quality[160]. - The company has maintained its independent R&D design model, actively participating in fashion shows to align with market trends[35]. Sales Performance - Online sales surged by 122.48%, generating ¥2,982,005.62, up from ¥1,340,336.54 in 2022, reflecting a significant shift towards e-commerce[46]. - Direct sales accounted for ¥36,869,119.47, a 30.67% increase from ¥38,214,607.64 in the previous year, indicating strong performance in this channel[46]. - Franchise sales revenue surged by 86.81% to ¥58,929,626.30, although gross margin fell by 51.71% to 25.81% due to increased returns from the previous year[65]. Risk Management and Challenges - The management highlighted potential risks including macroeconomic fluctuations and operational challenges, which could impact future performance[5]. - The company faces challenges from global economic slowdowns and domestic market pressures, impacting overall industry performance[34]. - The company reported a non-operating fund occupation by the actual controller amounting to CNY 19,710,000 transferred to a personal bank account without approval[167]. - The company acknowledges the potential risks to its ongoing operations due to significant uncertainties highlighted in the audit report[173]. Corporate Governance and Compliance - The company is committed to enhancing its governance structure and ensuring compliance with legal regulations to protect shareholder interests[100]. - The company has established a fair and transparent performance evaluation and incentive mechanism for directors, supervisors, and senior management, with the compensation plan reviewed and approved by the board[102]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate reporting through designated newspapers and official websites[104]. - The company has been under investigation by the China Securities Regulatory Commission for potential violations of securities laws[193]. Strategic Initiatives and Future Plans - The company plans to upgrade its apparel business comprehensively and expand into a multi-dimensional fashion new retail industry[88]. - The company aims to increase e-commerce sales and develop a new retail model that integrates online and offline channels, enhancing customer experience and operational efficiency[91]. - The company is focused on enriching its business chain and creating new competitive advantages in the fashion industry[88]. - The company plans to optimize its management structure and control operational costs to improve efficiency and reduce wasteful expenditures[172]. Employee and Management Structure - The total number of employees at the end of the reporting period was 510, with 297 in the parent company and 213 in major subsidiaries[129]. - The company has established a comprehensive compensation management system, including fixed salary, performance pay, and welfare allowances[130]. - The company’s management team includes professionals with significant experience in their respective fields, contributing to strategic decision-making[114]. Financial Independence and Internal Controls - The company maintains an independent financial department and accounting system to ensure financial independence[163]. - The company guarantees that it has independent operational assets, personnel, and capabilities to conduct business activities autonomously[164]. - The company has committed to maintaining the independence of its financial accounting department and financial management system[156]. - The company has established a robust internal audit system to evaluate operational quality and internal control effectiveness, reporting directly to the board[103].