[年报]特 力Ｂ(200025):2023年年度报告（英文版）
原标题:特 力Ｂ:2023年年度报告（英文版） 2023AnnualReport March2024 2023AnnualReport SectionIImportantNotice,Contents,andInterpretations TheBoardofDirectorsandBoardofSupervisors,aswellasdirectors, supervisors,andseniorexecutivesoftheCompanyguaranteethatthepresentannualreportistrue,accurate,andcompletewithoutfalserecords,misleadingstatements,ormajoromissions,andundertakethejointandseverallegalliabilitiesarisingtherefrom. FuChunlong,headoftheCompany,HuangTianyang,thepersonin chargeofaccounting,andYuTaiping,thepersoninchargeoftheaccountingfirm(accountantincharge)declaretoguaranteethetruthfulness,accuracy,andcompletenessofthefinancialreportinthisannualreport. AlldirectorsoftheCompanyhaveattendedtheboardmeetingtoreview thisreport. TheCompanyshallabidebythedisclosurerequirementsoftheBusinessGuidelinesofShenzhenStockExchangeforSelf-disciplineRegulationofListedCompaniesNo.3—IndustrialInformationDisclosureforjewelry-relatedbusiness. Theforward-lookingstatementssuchasplansforthefutureand developmentstrategiesinvolvedinthisannualreportdonotconstituteasubstantialcommitmentoftheCompanytoinvestors.Investorsand stakeholdersshallbeawareoftherisksthereinandunderstandthedifferencesamongplans,forecasts,andcommitments.Investorsshallpayattentiontoinvestmentrisks. TheCompany'sprofitdistributionplanpassedbytheBoardofDirectorsisasfollows:Basedonatotalof431,058,320shares,acashdividendofRMB0.31(includingtaxes)per10shareswillbedistributedtoallshareholders,withnobonussharesissued(includingtaxes)andnocapitalizationofreservesforanincreaseincapitalstock. Contents SectionIImportantNotice,Contents,andInterpretations...................................................................................2 SectionIICompanyProfileandMajorFinancialIndicators................................................................................7 SectionIIIManagementDiscussionandAnalysis................................................................................................12 SectionIVCorporateGovernance.........................................................................................................................40 SectionVEnvironmentalandSocialResponsibility............................................................................................62 SectionVIImportantMatters.................................................................................................................................64 SectionVIIChangesinSharesandShareholders................................................................................................77 SectionVIIIPreferredShares.................................................................................................................................85 SectionIXBonds......................................................................................................................................................86 SectionXFinancialReport......................................................................................................................................87 ListofDocumentsforFutureReference (I)FinancialstatementssignedandsealedbytheheadoftheCompany,thepersoninchargeofaccounting,andthepersonin chargeofthefinancedepartment(accountantincharge). (II)Theoriginalcopyoftheauditor’sreportsealedbyanaccountingfirmandsealedandsignedbycertifiedpublicaccountants. (III)Originalsofallcompanydocumentsandannouncementsthathavebeenpubliclydisclosedduringthereportingperiod. Interpretations
I.CompanyInformation
AccountingfirmengagedbytheCompany
FinancialconsultantengagedbytheCompanyforcontinuoussupervisionduringthereportingperiod□Applicable ?Notapplicable VI.MajorAccountingDataandFinancialIndicators DoestheCompanyneedtoretrospectivelyadjustorrestatetheaccountingdataforthepreviousyears？□Yes ?No
accountingyearsisnegative,andtheauditor’sreportofthelastyearindicatesuncertaintyregardingthecompany'sabilityto continueoperating. □Yes ?No Whicheverislowerbetweennetprofitsbeforeandafterdeductingnon-recurringgainsandlossesisnegative.□Yes ?No VII.DiscrepancyinAccountingDataunderDomesticandForeignAccountingStandards1.DiscrepancyinnetprofitandnetassetsinthefinancialreportdisclosedsimultaneouslyaccordingtoInternationalAccountingStandardsandChineseAccountingStandards□Applicable ?Notapplicable ThereisnodiscrepancyinnetprofitandnetassetsinthefinancialreportsdisclosedbytheCompanyfollowingInternational AccountingStandardsandChineseAccountingStandardsinthereportingperiod.2.DiscrepancyinnetprofitandnetassetsinthefinancialreportdisclosedsimultaneouslyaccordingtoforeignaccountingstandardsandChineseAccountingStandards □Applicable ?Notapplicable ThereisnodiscrepancyinnetprofitandnetassetsinthefinancialreportsdisclosedbytheCompanyfollowingforeignaccounting standardsandChineseAccountingStandardsinthereportingperiod. VIII.QuarterlyMajorFinancialIndicators Unit:RMB
annualreport？ □Yes ?No IX.Non-recurringProfitorLossItemsandAmounts ?Applicable□Notapplicable Unit:RMB
TheCompanyhasnoothergainsorlossesconformingtothedefinitionofnon-recurringgainsorlosses.Explanationondefiningthenon-recurringgainsorlossessetoutintheExplanatoryAnnouncementNo.1onInformation DisclosureforCompaniesOfferingSecuritiestothePublic—Non-RecurringGainsorLossesasrecurringgainsorlosses □Applicable ?Notapplicable TheCompanydoesnotdefineanynon-recurringgainsorlossessetoutintheExplanatoryAnnouncementNo.1onInformation DisclosureforCompaniesOfferingSecuritiestothePublic—Non-RecurringGainsorLossesasrecurringgainsorlosses. SectionIIIManagementDiscussionandAnalysis I.IndustryDevelopmentduringtheReportingPeriod TheCompanyshallabidebythedisclosurerequirementsoftheBusinessGuidelinesofShenzhenStockExchangeforSelf- disciplineRegulationofListedCompaniesNo.3—IndustrialInformationDisclosureforjewelry-relatedbusiness. (I)GoldandJewelryIndustry 1.Macro-environment Thedevelopmentofthegoldandjewelryindustryiscloselyrelatedtotheglobalgeopoliticalpatternandeconomic development trend. In 2023, the complex international situation, escalating global geopolitical tensions,continuousregionalconflicts,andconstantfrictionscausedbymulti-countrytradeprotectionismposedchallengestoglobalpoliticalstabilityandeconomicdevelopment.Undertheimpactofcomplexfactorsathomeandabroadandtheactionofnationalmacro-control,thedomesticeconomicdevelopmenthasgraduallystabilizedandthedomesticjewelryconsumermarkethasgraduallyrecovered.Atthesametime,toregulatethedevelopmentorderofthejewelrymarket,Chinahasissuedaseriesofpoliciesandmeasurestoprotectthedomesticmarketandpromotelegaltrade. 2.OverviewoftheGoldandJewelryIndustry AccordingtotheNationalBureauofStatistics,China'stotalretailsalesofconsumergoodsincreasedby7.2%year-on-yeartoRMB47.1495trillionin2023,andthetotalretailsalesofgold,silver,andjewelryfromenterprisesabovethedesignatedsizeincreasedby13.3%year-on-yeartoRMB331billion,makingthiscategorythefastest-growingcategoryamongallcommodityretailcategories.China'sconsumerdemandforjewelryisstrong,andthemarketisexpectedtocontinueexpanding.Thestructuraldifferentiationwithinthejewelryindustryisintensifying.Thedemandfornaturaldiamond-setjewelry,whichisanoptionaltypeofconsumerproduct,isinsufficientandrecoversslowly.Lab-growndiamondsalsohaveagreatimpactonthenaturaldiamondmarket.However,gold,withitsuniqueconsumptionandhedgeattributes,holdsadominantmarketposition,withmarketdemandsignificantlyincreasing.Competitionamongcompanieswithintheindustryisbecomingincreasinglyfierce.Leadingcompaniesareacceleratingindustryconsolidationbyactivelyexpandingchannels,upgradingbrands,anddevelopingnewproducts.Bysellingpopularproductssuchasgoldandjewelry,theyarestrivingtoachievestablerevenuegrowthandattractnew-generationconsumergroups.Itisexpectedthattheindustryconcentrationwillfurtherincreaseinthefuture.Fromtheperspectiveofconsumptionscenarios,China'smarriagerateisdeclining,leadingtoreducedconsumerdemandinwedding-relatedscenarios.Themarketforinlaidproductsisshrinking,whileconsumerdemandforgoldhasincreasedsignificantly.Withtheupgradingofconsumptionandtheriseofaself-indulgencetrendinChina,theconsumerdemandforgoldandjewelryproductsisshiftingtowardspersonalizationanddiversification.Thecontinuousadvancementinthecraftsmanshipofgoldjewelryproductsisdrivingrapidproductiterations,promptingachangeinconsumptionscenariosfromweddingstoself-wearingorgiftingscenarios. 3.DevelopmentTrend The gold and jewelry industry has vast opportunities for future development, especially with thedevelopmentofnewgoldproductcategoriesleadingtofurtherpricereductionsandthegradualpenetrationoflower-tiermarkets.Withawideragerangeamongconsumergroupsandincreasedconsumptionfrequency,brandshavebeenintensifyingandacceleratingtheirdeploymentinonlinechannels.Onlinechannelshavebecomeanimportantsourceofsalesgrowthforcategoriessuchasgoldandjewelry.Additionally,withthecontinuous advancement of digitalization and technology, online platforms for gold and jewelry will be continuouslyoptimizedandimprovedtoprovideconsumerswithmoreconvenientandpersonalizedshoppingexperiences. Digital applications notonly enhance the customer experience butalso increase operational efficiencyandreducecostsforbusinesses,enablingmore efficientsupplychainmanagement.Withdatatransparency,traceability,dataanalysisforoptimizedmanagement,anddemandforecasting,thepromotionofdigitalapplicationsiscrucialforfurtherdevelopment. Relyingonitsadvantages,theCompanymakesfulluseofindustryresourcestopromotestandardization,informatization,andcomplianceinthejewelryindustry,builddifferentiatedcompetitiveadvantageswhileservingthejewelryindustry,buildathird-partyserviceplatformforthejewelryindustry,andactivelyexploreandopenupblueoceanmarkets. (II)CommercialRealEstateLeasingIndustry AccordingtothedataoftheChinaRealEstateIndexSystem,officebuildingrentsinmajorbusinessdistrictscontinuedtodeclineinthefirsthalfoftheyear,anddemandrecoveredmoderatelyinthethirdquarter.However,affectedbynewsupplyintothemarket,thevacancyrateofGradeAofficebuildingsincreasedinsomecities.Accordingtostatistics,inthefirstthreequartersof2023,theaveragerentofofficebuildingsinmajorbusinessdistrictsin15keycitiesacrossChinafellby0.52%cumulativelyand0.28%quarter-on-quarterSomecommercialrealestatecompaniesareactivelystrategizingtoupgradeandtransform,enhancingtheirmarketcompetitivenessthroughimprovedservicequality,optimizedleasingenvironments,andinnovativebusinessmodels.Thegovernmenthasalsointroducedaseriesofpolicymeasurestosupportthehigh-qualitydevelopmentofthehousingrentalindustry,suchasincreasingfinancialsupportfortherentalmarketandpromotinglegislationrelatedtoleasing.Withthesteadyrecoveryofthemacroeconomicenvironmentinthefuture,thereisapossibilityofagradualrecoveryindemandforcommercialrealestateleasing.Inthefaceofachallengingcompetitiveenvironment,theCompanyisenhancingitsoperationalefficiency,servicequality,andsupportingmeasures.Itisalsopromotinggreenandlow-carbonpracticestocontinuouslyimprovetheoperationalcapabilitiesofcommercialcomplexes.Itisfocusingonfosteringaservice-orientedmindset,empoweringmerchants,andenhancingbrandimageandcompetitiveness.II.MainBusinessduringtheReportingPeriod TheCompanyshallabidebythedisclosurerequirementsoftheBusinessGuidelinesofShenzhenStockExchangeforSelf-disciplineRegulationofListedCompaniesNo.3—IndustrialInformationDisclosureforjewelry-relatedbusiness. (I)ThemainbusinessoftheCompanyduringthereportingperiodincludesjewelrythird-partyservices,commercialcomplexoperation,andpropertyleasingbusiness. 1.Jewelrythird-partyservices:Withthedevelopmentvisionof"beingcommittedtoprovidinghigh-qualityservicesupplyandgrowingwiththejewelryindustry", theCompanyreliesonitsadvantages,gathersdomesticandforeignhigh-qualityindustryresources,andcooperateswithoutstandingleadingenterprisesintheindustrytobuildathird-partyserviceplatformthatmeetstheneedsofthevastindustry.ThecompanyhassetupsubsidiariessuchasShenzhenJewelry,GuorunGold,TellusTreasury,andShanghaiFanyue.Throughtheconstructionandoperationofacomprehensivejewelryandjadetradeplatform,goldcirculationbusiness,andthird-partydepositorybusinessforhigh-endjewelry,itworks withmultiplepartiesandsectorstocreateawiderangeofserviceproductstofullymeetvariousneedsfromcustomersatdifferentlevels,andgraduallybuildsandenrichestheserviceecosystemofthejewelryindustrythroughasoundserviceindustrialchain.Itstrivestofillthemarketgap,solvecustomers'painpoints,playabenchmarkingroleintheindustry,andpromotethecomplianceprocessoftheindustry.2.Commercialcomplexoperationandpropertyleasingbusiness:TheCompanyisthelargestownerofTellus-DiamondTradingBuildinginvestedbytheCompanyhavebeenputintooperationsuccessively,maintainingahighoccupancyrate.Inaddition,theCompanyholdsasignificantamountofpropertyresourcesinareassuchasLuohuandFutianinShenzhen.Whilemaintainingthestabilityofitsexistingleasingbusiness,theCompanyactivelypromotestheimprovementofpropertyquality.Itistransitioningitsoldpropertiesfromtraditionalsimpleleasingtocommercialpropertyoperation,withafocusonenhancingandexploringtheaddedvalueofitspropertybrands.Thisinitiativeaimstoestablishinnovativeindustrialprojectsthatalignwiththeoverallstrategiclayoutofthecity,thedistrict,andtheCompany. (II)Descriptionofthemainbusinessmodelsofthejewelrybusiness 1.Salesmodel Atpresent,theCompanyadoptswholesaleasthemainsalesmodelforgoldandjewelry.Additionally,itprovidessupportingservicessuchascustomsdeclaration,goldpurification/exchange,andsafedepositboxleasing.Thesalesrevenuecompositionofthejewelrybusinessin2023isasfollows:
Atpresent,theCompany'sgoldandrelatedproductsmainlyuseacommissionedprocessingmodel,whilediamonds,coloredgemstones,andotherproductsdonotinvolveprocessing.Theproductionmodelin2023isasfollows:
Goldandrelatedproducts:TheCompanypurchasesgoldrawmaterialsfromShanghaiGoldExchangeorotherqualifiedorganizationsorleasesthemfrombanks; Diamonds:TheCompanypurchasesfinisheddiamondsfromoverseasdiamondsuppliersandimportsthemthroughShanghaiDiamondExchange; Otherjewelryandjade:TheCompanypurchasessuchproductsfromoverseasjewelryandjadesuppliersandhandlestax-payingimportproceduresthroughShenzhenJewelry. Thepurchasemodelsin2023areasfollows:
InSeptember2023,theGuorunDirect-salesStore(Tellus)openedonthefirstfloorattheatriumofTellusJewelryBuilding,Shuibei2ndRoad,LuohuDistrict,ShenzhenCity,GuangdongProvince.FromSeptembertoDecember2023,itachievedasalesvolumeof55.89kgandanoperatingrevenueofRMB23.1971million,withanoperatingcostofRMB23.1573millionandagrossprofitmarginof0.17%.5.Onlinesalesduringthereportingperiod InNovember2023,Tmall's"TellusShuibeiJewelryFlagshipStore"opened.FromNovembertoDecember2023,itachievedanoperatingincomeofRMB5.3689million,withanoperatingcostofRMB5.2811millionandagrossprofitmarginof1.64%. InNovember2023,JD.com's"TellusShuibeiJewelryFlagshipStore"opened.FromNovembertoDecember2023,itachievedanoperatingincomeofRMB7.8716million,withanoperatingcostofRMB7.7941millionandagrossprofitmarginof0.98%. 6.Inventoryofjewelrybusinessduringthereportingperiod AsofDecember31,2023,theinventorybalanceoftheCompany'sjewelrybusinesswasRMB178.4258million,ofwhichtheamountmeasuredatfairvaluewasRMB178.419,correspondingtohedgeditemswithcommodityfuturescontractsandT+DcontractsashedginginstrumentsandthevalueofgoldleasedfromChinaEverbrightBank. III.CoreCompetitivenessAnalysis (I)Locationadvantage ThecompanyislocatedinShuibei,thecoreclusterofthejewelryindustryinShenzhen.ShuibeiisaninfluentialprofessionaltradingmarketinChina'sjewelryindustryandagoldandjewelryclusterwiththelargestscale,thehighestlevelofdevelopment,andthemostcompleteindustrialchaininChina.Shuibeiaccountsformorethan70%ofChina'sgoldandjewelrymarketshare.InthecoreareaofonesquarekilometerofShuibeiMarket,therearetensofthousandsofgoldandjewelryenterprises.AccordingtothedatafromtheShenzhenGold&JewelryAssociation,theannualphysicalpick-upvolumeofgoldandplatinuminShenzhenaccountsforabout70%ofthephysicalsalesvolumeatShanghaiDiamondExchange,andthephysicalconsumptionofdiamondsaccountsforabout80%oftheimportvalueatShanghaiDiamondExchange.Intermsofbrandclustering,LuohuDistrictencompassesover40leadingjewelryenterprisesand29"ChinaFamousTrademarks"inthejewelrysector,accountingfor30%ofthenationaltotal.IthassuccessfullynurturedthestockexchangelistingsofJewelrycompaniessuchasChowTaiSengandDRGroup.ShuibeihasformedacompleteindustrialchaincoveringdesignandR&D,productionandmanufacturing,exhibitionandtrading,brandoperation,headquartersofficeoperation,inspectionandtesting,talenttraining,etc.RelyingonthesignificantgeographicaladvantagesoftheShuibeiarea,theCompanyhasgatheredalargenumberofjewelrysuppliersandpowerfulmerchants,whichmakesitconvenientfortheCompanytocarryoutcomprehensivethird-partyservicesinthejewelrysector.ThemarketinfluenceofShuibeiandthecentralizedprovisionofcommercialandtradeinformationofferafavorablebusinessenvironmentanddevelopmentplatform.ThisallowstheCompanytopromptlycapturemarketfeedbackinformationandrespondquicklytomarketchanges. (II)Resourceadvantage Byleveragingtheendorsementofstate-ownedassetsandharnessingindustrialsynergies,theCompanydeeplyintegratesresourcesfromboththesupplyanddemandsidesofthejewelryindustry.ThispositionstheCompanywithacertainadvantageincoordinatingupstreamresources.TheCompanyhasestablisheddirectcooperationwithdomesticandforeigngoldjewelrysuppliersandprocessorsandheldanumberofdomesticcommodityinspectionmeetingsandbondedexhibitionstoreducethecostofcommodityinspectionandrawmaterialprocurementandimproveitsoperationefficiency. Intermsofcustomerexpansion,theCompanyhasaccumulatedcertainindustryresourcesandinfluence.ItcloselycooperateswithauthoritativeindustryassociationssuchastheGems&JewelryTradeAssociationofChinaandShenzhenGold&JewelryAssociation,activelyparticipatesinandorganizesvariousindustryinfluenceoftheindustry.Atthesametime,ithasgraspedthetrendofdigitalizationanddevelopedanonlineplatformthroughdigitaltransformation.Theplatformhaspreliminarilyestablishedacertainlevelofbusinesssupportanddigitalservicecapabilities. Inaddition,theCompanyhasalsobroughtstablebusinessincomeandcashflowthroughcommercialcomplexoperationandpropertyvalueimprovement,whichlaysasolidfoundationforitslong-termdevelopment.Atpresent,theCompanyisthelargestownerofTellus-GmondGoldJewelryIndustrialParkintheShuibeiarea.TheTellusJewelryBuildingandTellusGoldandDiamondTradingBuildinginvestedbytheCompanyhavebeenputintooperationsuccessively,maintainingahighoccupancyrate.Additionally,theCompanyplanstobuildinnovativeindustrialprojectsthatconformtotheoverallstrategiclayoutofthecity,thedistrict,andtheCompanythroughqualityimprovementandrenovation.(III)Managementadvantage TheCompanycontinuestoimproveitsmanagementlevel,strengthenstrategicdecompositionandimplementation,optimizeandadjusttheorganizationalstructure,andenhanceitsfunctionalguaranteecapability.Fromtheperspectiveofmanagementpromotionandoperation,theCompanyhasestablisheda"4S"managementmainlinesystembasedonthemanagementorientationandtheactualsituationoftheCompany.Fromstrategicplanningandbusinessplanstomanagementstatementsandassessmentandevaluation,scientificandclosed-loopmanagementconceptshavebeenestablishedandvariousmanagementactionshavebeenlinked,whichservetheCompany'sstrategicimplementationinaunifiedway. Intermsofriskcontrol,theCompanyhasformulatedstrictinternalbusinesscontrolprocessessuchassupplieraccessstandards,acustomerevaluationsystem,andaprocurementpricecomparisonsystemtorealizemulti-levelriskcontrolovercapital,information,andlogistics.Atthesametime,ithasstrengthenedinternalself-inspectionandriskcontrolsystemconstruction,continuouslyoptimizedbusinessprocessesandinternalcontrolsystemsintheprocessofbusinessdevelopment,andcarriedoutresearchandinnovationonnewcategoriesandnewbusinessmodelsunderthepremiseofcontrollablerisks.Withthehelpofinformationsystemconstruction,systemdataanalysis,andforesight,theriskearlywarningcapabilityofbusinessandriskcontroldepartmentshasbeenimproved. Intermsofhumanresources,theCompanyhasoptimizedtheemployeeemploymentmechanismandinterviewprocesstounleashorganizationalvitalitythroughtwo-waycommunication.Ithasoptimizedandimproved the training system, preliminarily established a middle-level management training mechanism IV.AnalysisofMainBusiness 1.Overview In2023,underthecorrectleadershipoftheGroup'sPartyCommitteeandBoardofDirectors,allTellusstaffworkedtogethertomoveforwardcourageously.Theoveralloperationthroughouttheyearwasstableandtheperformancecontinuedtoimprove. In2023,theCompany'soperatingincomereachedRMB1,846.74million,withayear-on-yearincreaseof120.46%.Themainreasonfortherevenuechangewastheexpansionofthegoldandjewelrybusinessscale.In2023,theCompanyrealizedatotalprofitofRMB153.52million,representinganincreaseofRMB50.68millionover2022.ThenetprofitattributabletotheparentcompanywasRMB118.26million,representinganincreaseofRMB34.76millionover2022.Themainreasonsforthechangesincludedchangesinmeasurementmethodsandpaymentofseverancecompensationtoemployeesafterthelossofcontroloverasubsidiary,aswellasthecommencementofoperationofTellusGoldandDiamondBuilding.MainbusinessandoperationoftheCompanyin2023: (1)Steadilypromotingtheconstructionofacomprehensivetradeplatform:ThecomprehensivetradeplatformwasupgradedtooneofShenzhen'sfivemajortradeplatformsin2023andintroducednationwidewithprecisebusinesspromotiontoregionssuchasEastChina;Ithasbeenincludedinseveralthree-yearactionplansofShenzhen,whichfurtherenhancesitsindustryinfluence;TheTellusJewelryCultureIndustrialPark,centeredaroundtheplatform,madethelistofChina'sTop100ComprehensiveCommodityMarketsandthelistofFashionableMarketsin2023sponsoredbytheStateAdministrationforMarketRegulation,withimprovedservicefunctionsthroughoutthejewelryindustrychain;Positiveprogresshasbeenmadeintheintroductionofupstreamresourcesandcooperationwithjewelrybrands. (2)Optimizingandimprovingproductsandservicesinjewelrytrading:Thecategoryadvantageshavebeencontinuouslystrengthened,withthebusinessscaleexpandingthroughouttheyear;Atotalof14category-specificviewingmeetingswereheld,resultinginastableyear-over-yeargrowthinimportandexportvolumein2023;Directengagementwithupstreamresourceshasreducedtheprocurementviewingcostsofcustomers;TheCompanycooperatedwiththePearlDepartmentoftheMinistryofNaturalResourcesandEnvironmentalConservationofMyanmar,organizedthe2023FirstMyanmarPearlAuctionShenzhen,China,andcollaboratedwiththeThaiGemandJewelryTradersAssociationandtheSriLankaGemTradersAssociation,providingachannelforplatformmemberstoaccessstableandhigh-qualitysourcesofpearlsandcoloredgemstones.(3)Promotingthemarketexpansionanddigitizationofthegoldsectorconcurrently:TheCompanyhasinnovatedbusinessmodels,vigorouslyexpandedmarketchannels,involvedsmallandmicrojewelryenterprisesinco-buildingtheTellusShuibeiDesignerCulturalCreativeMuseum,strengthenedsupplychainintegrationandservicecapabilities,andopenedofflinestoresandonlineflagshipstorestocarryoutinvestmentgoldproductsalesbusiness;Italsocarriesoutdigitalbusinessoperationtobringbetterservicesandmorevaluetocustomers. (4) Improving the operation level of the physical platform business: The investment attraction andoperationoftheGoldandDiamondBuildinghaveachievedexcellentresults,withanoveralloccupancyrateofover95%bytheendof2023;Withthesettlementofwell-knownjewelryenterprisesinthebuilding,aclusterofjewelry company headquarters has been established to gather industry traffic; The Jewelry Building has vigorouslytappeditspotentialtoincreaseincome,andnewachievementshavebeenmadeininvestmentattractionandoperation;therevenueofTellusLifeExperienceHallhasrisensteadily;therentalincomeofmanytraditionalpropertyprojectshasincreasedsignificantly. (5)Improvingthequalityandefficiencyofinternalmanagement:Thestrategicmanagementisstandardizedandorderly,withastrongerleadershiprole,implementingthe"4Smanagementsystem"drivenmainlybystrategy;Organizationalstructureoptimizationaroundstrategicgoalshasbeenaccomplished,withfullpromotionoftheOKRmanagementsystem;Effortshavebeenmadetointensifytalentdevelopmentandreinforceteambuilding;Thecorporatecultureisdeepeningandbecomingmoresubstantialthroughvariousinitiatives,suchasorganizingdiscussionson"striver'sconvention,"furthersolidifyingthefoundationofthecultureofstriving. (6)AdheringtotheleadershipofPartybuilding:TheCompanyhasstrengthenedlearningforPartybuilding,carriedoutin-depthresearchatthegrassrootslevelaround12topics,conducted18fieldvisitsandsymposiums,andpromotedthesolutiontoanumberofdifficultproblems.ThePartyCommitteeoftheCompanypaysattentiontostrengtheningtheconstructionofgrass-rootsorganizationsoftheParty,givesfullplaytothevanguardandexemplaryroleofpartymembers,activelyexploresandinnovatestheworkingmethodsofPartybuilding,andpromotesthehigh-qualitydevelopmentofvariousworkoftheCompany.2.Revenuesandcosts (1)Operatingrevenuecomposition Unit:RMB
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