上美股份2023年度报告

Contents Corporate Information2Chairman’s Statement6Financial Summary23Management Discussion and Analysis24Biographical Details of Directors,Supervisors and Senior Management31Corporate Governance Report39Report of the Board of Directors67Report of the Supervisory Committee103Independent Auditor’s Report106Consolidated Statement of Profit or Loss117Consolidated Statement of Comprehensive Income118Consolidated Statement of Financial Position119Consolidated Statement of Changes in Equity121Consolidated Statement of Cash Flows123Notes to the Financial Statements125 Corporate Information BOARD OF DIRECTORS Executive Directors Mr. Lyu Yixiong ()(Chairman of the Board and Chief Executive Officer)Ms. Luo Yan ()Mr. Feng Yifeng ()Ms. Song Yang () Non-executive DirectorsMs. Li Hanqiong ()Mr. Sun Hao () Independent Non-executive Directors Mr. Leung Ho Sun Wilson ()Ms. Luo Yan ()Mr. Liu Yi () SUPERVISORS Mr. Li Tao ()(Chairman)Ms. Shi Tenghua ()Ms. Cao Ying () JOINT COMPANY SECRETARIES Mr. Lian Ming ()Mr. Li Kin Wai ()(ACG, HKACG) ACG, HKACG AUDIT COMMITTEE Mr. Leung Ho Sun Wilson ()(Chairman)Ms. Luo Yan ()Mr. Liu Yi () REMUNERATION AND APPRAISALCOMMITTEE Ms. Luo Yan ()(Chairman)Mr. Lyu Yixiong ()Mr. Liu Yi () NOMINATION COMMITTEE Mr. Lyu Yixiong ()(Chairman)Ms. Luo Yan ()Mr. Liu Yi () AUTHORISED REPRESENTATIVES ACG, HKACG Mr. Feng Yifeng ()Mr. Li Kin Wai ()(ACG, HKACG) AUDITORS 97927 Ernst & Young(Certified Public Accountants andRegistered Public Interest Entity Auditor)27/F, One Taikoo Place979 King’s RoadQuarry BayHong Kong LEGAL ADVISORS as to Hong Kong laws 183401 Eric Chow & Co. in Associationwith Commerce & Finance Law Offices3401, Alexandra House18 Chater RoadCentralHong Kong as to PRC laws 1515110 Commerce & Finance Law Offices10/F, Tower 1Jing An Kerry Centre1515 West Nanjing RoadShanghaiPRC Corporate Information COMPLIANCE ADVISER 188262602 Maxa Capital LimitedUnit 2602, 26/F, Golden Centre188 Des Voeux Road CentralSheung WanHong Kong REGISTERED OFFICE 515701 Room 701No. 515 Yinxiang RoadNanxiang TownJiading District, ShanghaiPRC HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS IN THE PRC 3300B25 25 Floor, Building BNo. 3300 Zhongshan North RoadPutuo District, ShanghaiPRC PRINCIPAL PLACE OF BUSINESS INHONG KONG 3485 5/F, Manulife Place348 Kwun Tong RoadKowloonHong Kong PRINCIPAL BANKERS 7557 Shanghai Pudong Development Bank Co., Ltd.(Fengxian Sub-Branch)No. 7557 Nanfeng RoadFengxian DistrictShanghai, PRC 1589 China Merchants Bank Co., Ltd.(Shanghai Century Avenue Sub-Branch)No. 1589 Century AvenuePudong New DistrictShanghai, PRC H HONG KONG H SHARE REGISTRARAND TRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong STOCK CODE 2145 2145 COMPANY’S WEBSITE www.chicmaxgroup.com www.chicmaxgroup.com Chairman’s Statement 20231231 Iam pleased to present our annual report for the year ended 31December 2023. FINANCIAL HIGHLIGHTS Ourrevenue increased to RMB4,190.7 million in the full year of2023 from RMB2,675.3 million in the full year of 2022. Our grossprofit increased to RMB3,019.5 million in the full year of 2023 fromRMB1,699.6 million in the full year of 2022. Our profit for the full yearof 2023 was RMB461.7 million whereas our profit for the full year of2022 was RMB137.1 million. 20222,675.320234,190.720221,699.620233,019.52023461.72022137.1 202312310.75202212310.25202361520236300.220231016 Final Dividend of RMB0.75 per share was proposed by the Board forthe year ended 31 December 2023. The final dividend for the yearended 31 December 2022 of RMB0.25 per share was approved bythe shareholders at shareholder’s meeting general meeting held on15 June 2023. The interim dividends for the six months ended 30June 2023 of RMB0.2 per share was approved by the shareholders atshareholder’s general meeting held on 16 October 2023. M A N A G E M E N TD I S C U S S I O N A N DANALYSIS BUSINESS REVIEW AND OUTLOOK Business Review We are a multi-brand cosmetics company, focusing on research anddevelopment, manufacturing and sales of skincare and maternity andchildcare products. We focus on the implementation of multi-brandstrategy and have remained dedicated to it since our establishment.Withan operational history of more than 20 years,today we areone of the front runners in China’s cosmetics industry, possessingcomprehensivemulti-brand development and operational capabilityandexpertise,and we have successfully built a variety of popularcosmetic brands. Our decisive strategy originally to embark on andpersist with a multi-brand strategy gives us an advantage to timelygrasp market opportunities and sets us apart from our peers. 20 Brands and Products newpage We have successfully launched a couple of cosmetics brands in thePRC to cater to various groups of consumers with different needs.Our results mainly come from three major brands, namelyKANS ,OneLeaf andBaby Elephant , whereas other brands such asnewpage and