[年报]珀莱雅(603605):珀莱雅化妆品股份有限公司2022年年度报告（英文版）
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时间：2023年04月20日 17:35:37 中财网 |
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原标题:珀莱雅:珀莱雅化妆品股份有限公司2022年年度报告（英文版）
Stock Code: 603605 Stock Abbreviation: Proya
Bond Code: 113634 Bond Abbreviation : Proya Convertible Bond
Proya Cosmetics Co., Ltd.
Annual Report 2022
Important Notes
I. The Board of Directors, Board of Supervisors, directors, supervisors and senior management of the Company warrant that the content of the Annual Report is authentic, accurate and complete, free from false records, misleading statements and major omissions, and shall be jointly and severally liable therefore.
II. All directors of the Company attended the meeting of the Board of Directors.
III. Pan-China Certified Public Accountants (Special General Partnership) has issued a standard unqualified audit report to the Company.
IV. HOU Juncheng, chairman of the Company, and WANG Li, CFO of the Company and Head of Accounting Department, represent and warrant that the financial report in the Annual Report is authentic, accurate and complete.
V. The profit distribution plan or capital reserve capitalization plan for the Reporting Period approved by the Board of Directors
Based on the total share capital as of the record date on which equity distribution is implemented, the
Company proposes to distribute to all shareholders registered a cash dividend of RMB8.7 (tax inclusive)
per 10 shares, and convert the capital reserve into share capital in the proportion of 4 shares for every 10
shares held, but give no bonus shares. Based on the total share capital of 283,519,469 shares on December
31, 2022, it is estimated that the cash dividend to be distributed will amount to RMB246,661,938.03 (tax
inclusive) and a total of 113,407,788 shares will be converted. In case of a change in the Company's total share capital due to the conversion of convertible bonds before
the record date for equity distribution, the Company maintain the said distribution and conversation ratios
and yet adjust the total distribution and conversion amounts.
VI. Disclosure of risks involved in forward-looking statements √ Applicable □ Not applicable
Any future plan, development strategy and other descriptions contained in the forward-looking statements
herein shall not be deemed as the Company's substantial commitments to investors. Investors should note
that investment involves risks.
VII. Whether there is any non-operating capital occupation by a controlling shareholder and other related parties
No
VIII. Whether there is any external guarantee provided in violation of specified decision-making procedures
No
IX. Whether the majority of the directors are unable to warrant the authenticity, accuracy and completeness of the Annual Report disclosed by the Company
No
X. Major risk tips
The Company has described the existing risks in details in this Report. Refer to "(IV) Possible risks", "VI.
Discussion and Analysis of the Company's Future Development", "Section III Management Discussion and Analysis".
XI. Other
□ Applicable √ Not applicable
Contents
Section I Definitions ........................................................................................................................... 5
Section II Company Profile and Key Financial Indicators .................................................................. 7
Section III Management Discussion and Analysis .............................................................................. 13
Section IV Corporate Governance ...................................................................................................... 50
Section V Environmental and Social Responsibility ......................................................................... 72
Section VI Important Matters .............................................................................................................. 77
Section VII Shareholders and Changes in Shares ............................................................................... 105
Section VIII Information on Preference Shares ................................................................................... 115
Section IX Information on Bonds ..................................................................................................... 116
Section X Financial Report .............................................................................................................. 119
| Documents
Available
for
Inspection | Financial statements signed and sealed by the Legal Representative, CFO of the Company,
and person in charge of Accounting Department | | | Original copy of the audit report stamped by the accounting firm and signed and sealed by
certified public accountants. | | | Original copies of all documents and announcements of the Company disclosed during the
Reporting Period in newspapers designated by China Securities Regulatory Commission. |
Section I Definitions
I. Definitions
In this report, unless the context otherwise requires, the following terms have the following meanings:
| Definition | | | | Proya Cosmetics, this
Company, or the Company | refers to | Proya Cosmetics Co., Ltd. | | Huzhou Branch | refers to | Huzhou Branch of Proya Cosmetics Co., Ltd., a branch of the
Company | | Shanghai Branch | refers to | Shanghai Branch of Proya Cosmetics Co., Ltd., a branch of the
Company | | Proya Trade | refers to | Hangzhou Proya Trade Co., Ltd., a wholly-owned subsidiary
of the Company | | Korea Hanna | refers to | Hanna Cosmetics Co., Ltd., a wholly-owned subsidiary of the
Company | | Anya (Huzhou) | refers to | Anya (Huzhou) Cosmetics Co., Ltd., a wholly-owned
subsidiary of Korea Hanna | | Yueqing Laiya | refers to | Yueqing Laiya Trading Co., Ltd., a wholly-owned subsidiary
of the Company | | Huzhou UZERO | refers to | Huzhou UZERO Trading Co., Ltd., a wholly-owned
subsidiary of the Company | | Mijing Siyu (Hangzhou) | refers to | Mijing Siyu (Hangzhou) Cosmetics Co., Ltd., a wholly-owned
subsidiary of the Company | | Meiligu | refers to | Zhejiang Meiligu Electronic Commerce Co., Ltd., a wholly-
owned subsidiary of the Company | | Chuangdai Electronics | refers to | Huzhou Chuangdai E-commerce Co., Ltd., a wholly-owned
subsidiary of Meiligu | | Hangzhou Boxin | refers to | Hangzhou Boxin Trading Co., Ltd., a wholly-owned
subsidiary of Meiligu | | Hapsode (Hangzhou) | refers to | Hapsode (Hangzhou) Cosmetics Co., Ltd., a wholly-owned
subsidiary of the Company | | Korea Hapsode | refers to | Hapsode Co., Ltd., a wholly-owned subsidiary of Hapsode
(Hangzhou) | | Huzhou Hapsode | refers to | Huzhou Hapsode Trading Co., Ltd., a wholly-owned
subsidiary of Hapsode (Hangzhou) | | Danyang Hapsode | refers to | Danyang Hapsode Cosmetics Trading Co., Ltd., a wholly-
owned subsidiary of Hapsode (Hangzhou) | | Proya Commercial | refers to | Hangzhou Proya Commercial Management Co., Ltd., a
wholly-owned subsidiary of the Company | | Tiedingxian | refers to | Hangzhou Tiedingxian Catering Management Co., Ltd., a
holding subsidiary of Proya Commercial | | Tielexin Aini | refers to | Hangzhou Tielexin Aini Catering Management Co., Ltd., a
wholly-owned subsidiary of Proya Commercial | | Xiake Bar | refers to | Hangzhou Xiake Bar Catering Management Co., Ltd., a
wholly-owned subsidiary of Proya Commercial | | Luxiaotie | refers to | Hangzhou Luxiaotie Fitness Co., Ltd., a wholly-owned
subsidiary of Proya Commercial | | Donghai Wangchao | refers to | Hangzhou Donghai Wangchao Catering Management Co.,
Ltd., a wholly-owned subsidiary of Proya Commercial | | Hong Kong Keshi | refers to | Hong Kong Keshi Trading Co., Ltd., a holding subsidiary of
the Company | | Hongkong Xinghuo | refers to | Hongkong Xinghuo Industry Limited, a wholly-owned
subsidiary of the Company | | Hong Kong Zhongwen | refers to | Hong Kong Zhongwen Electronic Commerce Co., Limited, a
wholly-owned subsidiary of Hongkong Xinghuo | | Hong Kong Xuchen | refers to | Hong Kong Xuchen Trading Limited, a wholly-owned
subsidiary of Hongkong Xinghuo | | Proya Luxembourg | refers to | Proya Europe SARL, a wholly-owned subsidiary of Hongkong
Xinghuo | | Shanghai Zhongwen | refers to | Shanghai Zhongwen Electronic Commerce Co., Ltd., a
wholly-owned subsidiary of the Company | | Huzhou Niuke | refers to | Huzhou Niuke Technology Co., Ltd., a holding subsidiary of
the Company | | Hangzhou Wanyan | refers to | Hangzhou Wanyan Culture Media Co., Ltd., a wholly-owned
subsidiary of Huzhou Niuke | | Hong Kong Wanyan | refers to | Hong Kong Wanyan Electronic Commerce Co., Limited, a
wholly-owned subsidiary of Huzhou Niuke | | Huzhou Younimi | refers to | Huzhou Younimi Cosmetics Co., Ltd., a wholly-owned
subsidiary of the Company | | Korea Younimi | refers to | Korea Younimi Cosmetics Co., Ltd., a holding subsidiary of
the Company | | Ningbo TIMAGE | refers to | Ningbo TIMAGE Cosmetics Co., Ltd., a holding subsidiary of
the Company | | Hangzhou TIMAGE | refers to | Hangzhou TIMAGE Cosmetics Co., Ltd., a wholly-owned
subsidiary of Ningbo TIMAGE | | Ningbo Keshi | refers to | Ningbo Keshi Trading Limited, a holding subsidiary of the
Company | | Zhejiang Beute | refers to | Zhejiang Beute Cosmetics Co., Ltd., a wholly-owned
subsidiary of the Company | | Ningbo Proya | refers to | Ningbo Proya Enterprise Consulting Management Co., Ltd., a
wholly-owned subsidiary of the Company | | Zhejiang Qingya | refers to | Zhejiang Qingya Culture Art Communication Co., Ltd., a
holding subsidiary of the Company | | Boya (Hong Kong) | refers to | Boya (Hong Kong) Investment Management Co., Limited, a
wholly-owned subsidiary of the Company | | Japan OR | refers to | O&R Co., Ltd., a holding subsidiary of Boya (Hong Kong) | | Ningbo Tangyu | refers to | Ningbo Tangyu Trading Co., Ltd., a wholly-owned subsidiary
of Japan OR | | Hangzhou Weiluoke | refers to | Hangzhou Weiluoke Cosmetics Co., Ltd., a wholly-owned
subsidiary of the Company | | Hangzhou Yizhuo | refers to | Hangzhou Yizhuo Culture Media Co., Ltd., a wholly-owned
subsidiary of the Company | | Hangzhou Oumisi | refers to | Hangzhou Oumisi Trading Co., Ltd., a wholly-owned
subsidiary of the Company | | Guangzhou Qianxi | refers to | Guangzhou Qianxi Network Technology Co., Ltd., a wholly-
owned subsidiary of the Company | | Proya (Hainan) | refers to | Proya (Hainan) Cosmetics Co., Ltd., a wholly-owned
subsidiary of the Company | | Singuladerm (Hangzhou) | refers to | Shenggelan (Hangzhou) Cosmetics Co., Ltd., a wholly-owned
subsidiary of the Company | | Xuzhou Laibo | refers to | Xuzhou Laibo Information Technology Co., Ltd., a wholly-
owned subsidiary of the Company | | Proya (Zhejiang) | refers to | Proya (Zhejiang) Cosmetics Co., Ltd., a wholly-owned
subsidiary of the Company | | CSRC | refers to | China Securities Regulatory Commission | | SSE | refers to | Shanghai Stock Exchange | | Pan-China | refers to | Pan-China Certified Public Accountants (Special General
Partnership) | | CSC | refers to | China Securities Co., Ltd. | | Company Law | refers to | Company Law of the People's Republic of China | | Securities Law | refers to | Securities Law of the People's Republic of China | | Articles of Association | refers to | Articles of Association of Proya Cosmetics Co., Ltd. | | RMB/RMB’0,000 | refers to | Renminbi Yuan/Renminbi 10,000 Yuan | | Reporting Period | refers to | January 1, 2022 to December 31, 2022 |
Section II Company Profile and Key Financial Indicators
I. Company Information
| Chinese name of the Company | Proya Cosmetics Co., Ltd. | | Short name of the Company in Chinese | 珀莱雅 | | English name of the Company | Proya Cosmetics Co., Ltd. | | Abbreviation of English name of the
Company | Proya | | Legal representative of the company | HOU Juncheng |
II. Contact Details
| | Board Secretary | Securities Affairs Representative | | Name | WANG Li | WANG Xiaoyan | | Mailing address | 10/F, Proya Building, No. 588 Xixi Road,
Xihu District, Hangzhou City, Zhejiang
Province | 10/F, Proya Building, No. 588 Xixi
Road, Xihu District, Hangzhou City,
Zhejiang Province | | Telephone | 0571-87352850 | 0571-87352850 | | Fax | 0571-87352813 | 0571-87352813 | | Email | [email protected] | [email protected] |
III. General Information
| Registered address | No. 588, Xixi Road, Liuxia Street, Xihu District,
Hangzhou City, Zhejiang Province | | Historical changes in the Company's
registered address | For details, please refer to the Announcement on
Amending the Articles of Association and Applying for
Changing Business Registration (No.2019-008) disclosed
by the Company on the designated media on February 27,
2019. | | Office address of the Company | Proya Building, No. 588 Xixi Road, Xihu District,
Hangzhou City, Zhejiang Province | | Postal code of the registered office address | 310023 | | Company website | http://www.proya-group.com | | Email | [email protected] |
IV. Information Disclosure and Place for Obtaining the Report
| Media for the Company's information
disclosure | Shanghai Securities News, Securities Times | | CSRC's designated website for the
Company's Annual Report disclosure | http://www.sse.com.cn | | The Company's Annual Report may be
obtained at | Board of Director's Office, Proya Building, No. 588 Xixi
Road, Xihu District, Hangzhou City, Zhejiang Province |
V. Stock Information
| Stock Information | | | | | | Stock class | Stock exchange | Stock abbreviation | Stock code | Stock abbreviation
before changes | | A share | Shanghai Stock
Exchange | Proya | 603605 | None |
VI. Other Relevant Information
| Auditor of the
Company
(domestic) | Name | Pan-China Certified Public Accountants (Special
General Partnership) | | | Office address | Block B, China Resources Building, No. 1366,
Qianjiang Road, Jianggan District, Hangzhou | | | Name of the signing
accountant | YIN Zhibin, WANG Xiaokang | | Sponsor
performing
continuous
supervisory
duty during the
Reporting | Name | China Securities Co., Ltd. | | | Office address | Room 2203, North Tower, Shanghai Securities
Building, No. 528, Pudong South Road, Shanghai | | | Names of the sponsor's
signing representatives | GE Liang, WANG Zhan | | | Period of continuous | January 4, 2022 - December 31, 2023 | | Period | supervision | |
VII. Major Accounting Data and Financial Indicators for the Past Three Years (I) Major Accounting Data
Unit: Yuan Currency: RMB
| Major accounting
data | 2022 | 2021 | Year-on-year
change (%) | 2020 | | Operating revenue | 6,385,451,424.00 | 4,633,150,538.43 | 37.82 | 3,752,386,849.02 | | Net profit
attributable to
shareholders of the
listed company | 817,400,223.93 | 576,119,025.56 | 41.88 | 476,009,298.41 | | Net profit
attributable to
shareholders of the
listed company net
of non-recurring
profit or loss | 788,513,237.01 | 568,092,480.38 | 38.80 | 469,935,904.22 | | Net cash flow from
operating activities | 1,111,136,117.23 | 829,670,943.82 | 33.92 | 331,550,109.14 | | | As of the end of
2022 | As of the end of
2021 | Year-on-year
change (%) | As of the end of
2020 | | Net assets
attributable to
shareholders of the
listed company | 3,524,488,659.96 | 2,876,975,835.98 | 22.51 | 2,391,535,435.94 | | Total assets | 5,778,071,824.19 | 4,633,049,783.03 | 24.71 | 3,636,882,185.29 |
(II) Key Financial Indicators
| Key financial indicators | 2022 | 2021 | Year-on-year
change (%) | 2020 | | Basic earnings per share
(RMB/share) | 2.90 | 2.87 | 1.05 | 2.37 | | Diluted earnings per share
(RMB/share) | 2.87 | 2.81 | 2.14 | 2.37 | | Basic earnings per share net of
non-recurring profit and loss
(RMB/share) | 2.80 | 2.83 | -1.06 | 2.34 | | Weighted average ROE (%) | 25.95 | 22.25 | Up by 3.70
percentage points | 21.82 | | Weighted average ROE net of
non-recurring profit and loss (%) | 25.03 | 21.94 | Up by 3.09
percentage points | 21.54 |
Explanation on the Company's major accounting data and financial indicators for the recent three years as
of the end of the Reporting Period
□ Applicable √ Not applicable
VIII. Differences in Accounting Data under Chinese and International Accounting Standards (I) Difference in net profit and net assets attributable to shareholders of the listed company in the
financial report disclosed in accordance with International accounting standards and Chinese accounting standards
□ Applicable √ Not applicable
(II) Differences in net profit and net assets attributable to shareholders of the listed company in
the financial report disclosed in accordance with International accounting standards and Chinese accounting standards
□ Applicable √ Not applicable
(III) Description of differences between international and Chinese accounting standards: □ Applicable √ Not applicable
IX. Major Financial Data for 2022 by Quarter
Unit: Yuan Currency: RMB
| | Q1
(January - March) | Q2
(April - June) | Q3
(July - September) | Q4
(October - December) | | Operating revenue | 1,254,357,336.99 | 1,371,585,907.30 | 1,336,130,787.67 | 2,423,377,392.04 | | Net profit
attributable to
shareholders of the
listed company | 158,420,986.20 | 138,518,529.34 | 198,375,641.64 | 322,085,066.75 | | Net profit
attributable to
shareholders of the
listed company net
of non-recurring
profit and loss | 146,724,879.18 | 134,172,539.35 | 196,100,724.25 | 311,515,094.23 | | Net cash flow from
operating activities | 342,107,055.69 | 371,675,074.69 | 58,091,203.29 | 339,262,783.56 |
Description of differences between quarterly data and disclosed regular report data □ Applicable √ Not applicable
X. Non-recurring Profit and Loss Items and Amounts
√ Applicable □ Not applicable
Unit: Yuan Currency: RMB
| Non-recurring profit and loss item | Amount for
2022 | Note (if
applicable) | Amount for
2021 | Amount for
2020 | | Gain or loss on disposal of non-current
assets | 60,155.60 | | -112,183.24 | 150,560.30 | | Unauthorized approval, no formal | | | | | | Non-recurring profit and loss item | Amount for
2022 | Note (if
applicable) | Amount for
2021 | Amount for
2020 | | approval, or occasional tax refund or
reduction | | | | | | Government grants recognized in profit or
loss for the current period (excluding
government grants that are closely related
to the Company's business operations and
gained at a fixed amount or quantity
according to national standards) | 38,463,732.07 | | 15,448,962.01 | 12,198,410.18 | | Capital occupation fees charged to the non-
financial enterprises and included in profit
or loss for the current period | | | | | | Gains when the investment cost of
acquiring a subsidiary, an associate and a
joint venture is less than the fair value of the
identifiable net assets of the invested entity | | | | | | Gains or losses from exchange of non-
monetary assets | | | | | | Gains or losses from entrusting others with
investment or asset management | | | | | | Asset impairment provision accrued for
force majeure such as natural disasters | | | | | | Gains or losses from debt restructuring | | | | | | Enterprise restructuring fees, such as
staffing expenses and integration fees | | | | | | Profit and loss of the part exceeding fair
value generated from transaction with
unreasonable transaction price | | | | | | Current net gains or losses of subsidiaries
established by business combination
involving enterprises under common
control from the beginning of the period to
the combination date | | | | | | Gains or losses on contingencies that have
no relation with the normal operation of the
Company | | | | | | Gains or losses from change in fair value by
held-for-trading financial assets, derivative
financial assets, held-for-trading financial
liabilities and derivative financial
liabilities, and investment income from
disposal of held-for-trading financial
assets, derivative financial assets, held-for-
trading financial liabilities, derivative | | | | 2,266,301.37 | | Non-recurring profit and loss item | Amount for
2022 | Note (if
applicable) | Amount for
2021 | Amount for
2020 | | financial liabilities and other debt
investments, excluding the effective
hedging businesses related with normal
operations of the Company | | | | | | Reversal of provision for impairment of
receivables and contract assets individually
tested for impairment | 2,782,350.76 | | | | | Gains or losses from outward entrusted
loaning | | | | | | Gains or losses from changes in the fair
values of Investment real estate that are
subsequently measured using the fair value
model | | | | | | Impact of a one-time adjustment on current
profit and loss according to the
requirements of tax and accounting laws
and regulations | | | | | | Custody fees of entrusted operation | | | | | | Other non-operating revenue and expenses
besides the above items | -2,926,959.81 | | -3,078,442.83 | -6,810,805.57 | | Other items that conform to the definition
of non-recurring profit or loss | | | | | | Less: Effect of income tax | 3,689,885.55 | | 1,917,310.27 | 1,042,102.64 | | Effect of minority equity (after tax) | 5,802,406.15 | | 2,314,480.49 | 688,969.45 | | Total | 28,886,986.92 | | 8,026,545.18 | 6,073,394.19 |
The reasons should be explained for the non-recurring profit and loss items defined by the Company according to the definition of the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public: Non-recurring Profit and Loss, and the definition of
the non-recurring profit and loss items listed in the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public: Non-recurring Profit and Loss as recurring profit and loss items.
□ Applicable √ Not applicable
XI. Items Measured at Fair Value
√ Applicable □ Not applicable
Unit: Yuan Currency: RMB
| Item | Opening balance | Ending balance | Current change | Amount of impact
on the current profit | | Receivable
financing | 3,242,000.00 | | -3,242,000.00 | 0.00 | | Other equity | 56,402,400.00 | 146,402,400.00 | 90,000,000.00 | 0.00 | | instrument
investments | | | | | | Total | 59,644,400.00 | 146,402,400.00 | 86,758,000.00 | 0.00 |
XII. Other
□ Applicable √ Not applicable
Section III Management Discussion and Analysis
I. Business Discussion and Analysis
1. Year-on-year growth in operating revenue
RMB6.385 billion operating revenue, up by 37.82% YOY
including RMB6.362 billion prime operating revenue, up by 37.69% YOY RMB23 million non-operating revenue
Prime operating revenue:
(1) By channel
| Channel | | Amount
(RMB100
million) | Change in
2022 over the
previous year
YOY (%) | Change in
2021 over the
previous year
YOY (%) | Change in
2020 over
the previous
year
YOY (%) | Proportion
of 2022
(%) | Proportion
of 2021
(%) | Proportion
of 2020
(%) | | Online | Direct sales | 44.78 | 59.79 | 76.16 | 79.63 | 70.40 | 60.66 | 42.45 | | | Distribution | 13.10 | 16.79 | 8.56 | 34.36 | 20.58 | 24.27 | 27.56 | | | Subtotal | 57.88 | 47.50 | 49.54 | 58.59 | 90.98 | 84.93 | 70.01 | | Offline | Household
chemicals | 4.43 | -11.96 | -40.52 | -19.28 | 6.96 | 10.88 | 22.56 | | | Others | 1.31 | -32.32 | -30.50 | -32.81 | 2.06 | 4.19 | 7.43 | | | Subtotal | 5.74 | -17.62 | -38.03 | -23.12 | 9.02 | 15.07 | 29.99 | | Total | 63.62 | 37.69 | 23.28 | 20.26 | 100.00 | 100.00 | 100.00 | |
Note: The percentage of sales from each channel is the proportion of its sales in the prime operating
revenue.
(2) By brand
| Brand | | Amount
(RMB100
million) | Change in
2022 over the
previous year
YOY (%) | Change in
2021 over the
previous year
YOY (%) | Change in
2020 over
the previous
year
YOY (%) | Proportion
of 2022
(%) | Proportion
of 2021
(%) | Proportion
of 2020
(%) | | Self-
owned
brands | Proya | 52.64 | 37.46 | 28.25 | 12.43 | 82.74 | 82.87 | 79.66 | | | TIMAGE | 5.72 | 132.04 | 103.48 | - | 8.99 | 5.33 | - | | | OR | 1.26 | 509.93 | - | - | 1.98 | - | - | | | Hapsode | 1.87 | 188.27 | - | - | 2.94 | - | - | | | | 1.63 | -60.11 | -5.96 | 36.91 | 2.57 | 8.85 | | | | Subtotal | 63.12 | 40.74 | 26.63 | 19.11 | 99.22 | 97.05 | 94.48 | | Agency
brands | Cross-
border
agency
brands | 0.50 | -63.01 | -34.04 | 44.09 | 0.78 | 2.95 | 5.52 | | Total | 63.62 | 37.69 | 23.28 | 20.26 | 100.00 | 100.00 | 100.00 | |
Note: The proportion of sales of each brand is the proportion of its sales in the prime operating revenue;The
data of OR and Hapsode is incorporated into that of other brands in 2021 and therebefore, but is separately
listed in 2022 and thereafter.
(3) By category
| Category | Amount
(RMB100
million) | Change in
2022 over the
previous year
YOY (%) | Change in
2021 over the
previous year
YOY (%) | Change in 2020
over the
previous year
YOY (%) | Proportion
of 2022
(%) | Proportion
of 2021
(%) | Proportion
of 2020
(%) | | Skincare
(including
cleansing) | 54.84 | 38.56 | 22.70 | 11.38 | 86.20 | 86.10 | 86.50 | | Make-up
cosmetics | 7.52 | 21.70 | 32.97 | 181.91 | 11.82 | 13.38 | 12.41 | | Body & hair | 1.26 | 509.93 | - | - | 1.98 | - | - | | Others | 0.00 | -100.00 | -41.05 | 0.47 | 0.00 | 0.52 | 1.09 | | Total | 63.62 | 37.69 | 23.28 | 20.26 | 100.00 | 100.00 | 100.00 |
Note: The " Body & hair " category is included in the "Skincare (including cleansing)" category before
2021, and is separately listed after 2022.
2. YOY growth in net profit
RMB817 million net profit attributable to shareholders of the listed company, up by 41.88% YOY RMB789 million net profit attributable to shareholders of the listed company net of non-recurring profit
and loss, up by 38.80% YOY
| Indicator | 2022 | 2021 | 2020 | Notes | | 1. Net profit margin | 13.02% | 12.02% | 12.04% | Mainly due to the increased
gross profit margin. | | 2. Gross profit margin | 69.70% | 66.46% | 63.55% | Mainly due to:
1. Increased percentage of
online direct sales; 2. Hero
product strategy; | | 3. Sales expense ratio. | 43.63% | 42.98% | 39.90% | Mainly due to:
1. Incubation of new brands
(such as TIMAGE and OR);
2. Reshaping of brands (such
as Hapsode) and increased | | | | | | spending in image
promotion. | | Of which: image promotion fee
rate | 37.90% | 36.12% | 32.68% | | | 4. Administrative expense ratio | 5.13% | 5.12% | 5.44% | | | 5. R&D expense ratio | 2.00% | 1.65% | 1.92% | Mainly due to:
1. The R&D expense was
increased by 67.15% YOY
(an absolute increase of
RMB51.43 million);
2. The parent company's
R&D expense ratio was
4.31% in 2022 (compared
with 3.55% for the same
period last year). | | 6. Accounts receivable turnover
rate (time/year) | 53.04 | 21.88 | 15.53 | Mainly due to:
1. Year-on-year growth in
operating revenue in 2022
2. Decreased average
balance of accounts
receivable. | | 7. Accounts receivable turnover
days (days) | 6.79 | 16.45 | 23.18 | | | 8. Inventory turnover rate
(time/year) | 3.46 | 3.39 | 3.50 | | | 9. Inventory turnover days (days) | 103.91 | 106.19 | 102.86 | |
（未完）
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