Financial Performance - Total revenue for the year ended February 28, 2025, was RMB 294.1 million, a decrease of 26.7% from RMB 401.4 million in the previous year[4]. - Gross profit for the same period was RMB 143.2 million, down 42.9% from RMB 250.8 million year-on-year[4]. - The company reported a loss attributable to equity holders of RMB 100.8 million, compared to a loss of RMB 23.5 million in the previous year[4]. - Basic and diluted loss per share was RMB 14.28, significantly higher than RMB 3.34 in the prior year[4]. - The company recorded a net loss for the year of RMB 103.3 million, compared to a loss of RMB 24.3 million in the previous year[6]. - Revenue from external customers in mainland China decreased to RMB 294,096 thousand in 2025 from RMB 394,164 thousand in 2024, representing a decline of approximately 25.4%[18]. - The total loss for the year ended February 28, 2025, was RMB 103,292 thousand, compared to a loss of RMB 24,326 thousand for the year ended February 29, 2024[15]. - Total revenue from government subsidies decreased to RMB 732,000 in 2025 from RMB 1,358,000 in 2024, a decline of 46.0%[19]. - The company reported a significant fair value loss on investment properties of RMB (9,244,000) in 2025, with no such loss reported in 2024[19]. - The company's total revenue for the fiscal year 2024/2025 decreased by 26.7% to RMB 294.1 million, compared to RMB 401.4 million in the previous fiscal year 2023/2024[28]. Assets and Liabilities - Total assets decreased to RMB 574.2 million from RMB 744.1 million year-on-year[7]. - Total liabilities reduced to RMB 90.8 million from RMB 126.0 million in the previous year[8]. - Total assets as of February 28, 2025, amounted to RMB 529,994 thousand, a decrease from RMB 693,135 thousand as of February 29, 2024[16]. - The total liabilities as of February 28, 2025, were RMB 76,475 thousand, compared to RMB 106,224 thousand as of February 29, 2024, indicating a reduction of approximately 28.0%[16]. - Cash and bank balances were RMB 327.9 million, down from RMB 364.7 million year-on-year[7]. - Trade receivables were reported at RMB 20.9 million for 2025, down from RMB 31.0 million in 2024, with a provision for impairment of RMB 946,000[26]. - Trade payables decreased to RMB 9.1 million in 2025 from RMB 18.6 million in 2024, indicating improved cash flow management[27]. - The company's total non-current assets (excluding deferred tax assets) decreased to RMB 92,936 thousand in 2025 from RMB 116,035 thousand in 2024[18]. - Non-current assets in mainland China decreased to RMB 25,922 thousand in 2025 from RMB 41,591 thousand in 2024, a decline of approximately 37.7%[18]. Operational Efficiency - The company implemented discount promotions to accelerate inventory turnover, which led to a significant decline in average selling prices and gross profit margins[40]. - The inventory turnover period for finished goods decreased from 432 days to 291 days[35]. - The company has optimized its logistics system to streamline operations, reduce inventory costs, and improve product turnover rates[40]. - A centralization of functions is being pursued to enhance operational efficiency and responsiveness to market changes, while reducing redundant positions[40]. - The group is implementing a series of optimization measures to enhance resilience against external market changes and improve operational efficiency, including streamlining company structure and integrating supply chains[36]. Market and Strategic Focus - The overall decline in revenue and gross profit reflects challenges in the market, necessitating strategic adjustments moving forward[28]. - The company plans to focus on enhancing product offerings and market expansion to recover from the current financial downturn[28]. - The retail environment remains weak, with consumer confidence not showing significant improvement, leading to cautious spending behavior among consumers[36]. - The group is actively reviewing and optimizing its offline distribution network, particularly focusing on stores that incur fixed rental costs and retaining only those contributing positively to the group[39]. - The group aims to maintain an appropriate distance between stores to improve the effectiveness of reaching target customer groups[39]. Employee and Governance - As of February 28, 2025, the company had a total of 595 full-time employees, a decrease from 927 employees as of February 29, 2024[46]. - Employee benefits expenses totaled RMB 124.7 million for the year, compared to RMB 121.7 million in the previous year, reflecting a 2.5% increase[46]. - The company has established comprehensive training programs for employees, enhancing skill development through external consultants[46]. - The company is committed to maintaining high standards of corporate governance and has adhered to the corporate governance code since October 2019[49]. - The audit committee consists of four independent non-executive directors, ensuring oversight of financial reporting and internal controls[47]. E-commerce and Brand Management - The group's e-commerce revenue declined by 8.8% year-on-year due to intense online brand competition and increased return rates in the industry[41]. - The group emphasizes effective online brand management to maintain brand image, rather than relying solely on price reduction strategies[41]. - The group is leveraging live streaming and product sharing events to engage potential customers and stimulate repurchase intentions[41]. - The group aims to strengthen partnerships with traditional e-commerce platforms and emerging social media platforms to drive online traffic[41]. - The group is focused on creating a synergistic effect between online and offline channels to boost overall sales performance[41]. Future Outlook - The World Bank estimates global economic growth to be 2.7% by 2025, but significant downside risks remain due to trade policy uncertainties and ongoing economic tensions[42]. - The company plans to enhance brand image through a new visual identity and packaging upgrades, including a refined gray gift box and a light purple brand logo, to improve customer experience[42]. - The company will continue to optimize offline sales channels and has opened its first flagship store in Shunde Wanxianghui, featuring a wide range of products and fast restocking capabilities[43].
莱尔斯丹(00738) - 2025 - 年度业绩