Continuing to deepen the main business, strengthen marketing management, and actively explore market opportunities through multiple channels, Chuangyuan Co., Ltd. will achieve a double growth in revenue and net profit in 2023.
On the evening of April 18, Chuangyuan shares (300703. SZ) released its 2023 earnings report. Last year, the company achieved revenue of about 1.359 billion yuan, a year-on-year increase of 3.04%, and net profit attributable to the parent company of 76.7403 million yuan, a year-on-year increase of 2.40%. In addition, according to the data released by the company in the first quarter of 2024, the revenue in the quarter was 325 million yuan, a year-on-year increase of 29.61%, and the net profit was 64 million yuan.
In recent years, Chuangyuan shares have maintained a steady growth trend, on the basis of steadily promoting the development of various businesses, the company actively expands overseas markets, and makes efforts to achieve remarkable results in cross-border e-commerce. At the same time, Chuangyuan Co., Ltd. adheres to independent research and development and innovation, and accumulates strong momentum for the company's sustainable development.
Revenue and net profit both increased, and the gross profit margin of products further increased
In 2023, the mainland's exports of cultural, educational and office supplies will maintain a good growth trend. According to customs statistics, from January to December 2023, the cumulative export value of cultural, educational and office supplies from the mainland was US$38.929 billion, a year-on-year increase of 5.47%, and after a sharp decline in 2020, it has achieved growth for three consecutive years, reaching the highest level in nearly five years.
In addition, in 2023, the mainland's stationery and sports goods industry (statistical caliber: 125 stationery HS codes) will complete a cumulative export value of 63.321 billion US dollars, a year-on-year decrease of 1.38%, although it is down from the previous year, it is still at the second highest level in the past five years.
Based on the overall improvement of the industry, Chuangyuan shares have achieved good business performance. According to the annual report data, in 2023, the revenue will be 1.359 billion yuan, a year-on-year increase of 3.04%, the net profit attributable to the parent company will be 76.7403 million yuan, a year-on-year increase of 2.40%, and the net profit attributable to the parent company will be 70.7011 million yuan, a year-on-year increase of 7.20%.
Deeply cultivated in the industry for many years, Chuangyuan shares have gradually formed a strong market competitiveness. Focusing on R&D, production and terminals, the company continues to provide customers with high-quality services and inject high-end products into the market.
While maintaining growth, the profitability of Chuangyuan shares has also been continuously improved. From 2021 to 2023, the gross profit margin of Chuangyuan shares will be 23.87%, 28.94%, and 33.04% respectively, showing a good trend of steady increase year by year. One step at a time, steady and far-reaching. Chuangyuan shares are changing from quantitative to qualitative, and gradually moving towards the road of high-quality development.
In terms of products, in 2023, Chuangyuan Co., Ltd.'s fashion stationery, social emotional, handmade puzzle, life and home furnishing, and sports and health products will achieve revenue of 702 million yuan, 149 million yuan, 138 million yuan, 88.8488 million yuan, and 200 million yuan respectively, accounting for 51.69%, 10.94%, 10.18%, 6.54%, and 14.71% of the revenue respectively. All businesses go hand in hand to contribute to the company's revenue growth.
In recent years, the development of the stationery industry and sporting goods industry in which Chuangyuan shares are located has been strongly supported by national policies. After long-term accumulation and precipitation, Chuangyuan has achieved a leading position in the fields of culture, sports, industry and beauty.
"Ingenuity customization, live up to expectations", this is the original intention of Chuangyuan shares. Based on the business philosophy of "marine innovation, standardized operation, and ecological integration", the company strives to provide products with both aesthetics, function, and quality, as well as warm services. The company exports cultural and aesthetic concepts at the same time, and will become a creative fashion brand with international competitiveness in the future.
Deeply cultivating the European and American markets, and making efforts to cross-border e-commerce, the results have been remarkable
For a long time, Chuangyuan Co., Ltd. has continued to cultivate the European and American markets, and its domestic and foreign layout has been gradually improved. In recent years, we have continued to develop cross-border e-commerce business and have reaped fruitful results.
It is understood that the high-end stationery and educational supplies launched by Chuangyuan Co., Ltd. are currently mainly sold in the European and American markets. The company has set up double "production and export bases" in Ningbo and Anhui, focusing on building an integrated supply chain system of research, production and marketing. In addition, Chuangyuan Co., Ltd. has also laid out a production base in Vietnam in Southeast Asia, and established an international supply system with core customers and core products as its business strategy.
According to the annual report, in 2023, Chuangyuan Co., Ltd. will achieve operating income of 1.163 billion yuan, 68.5198 million yuan, and 52.185 million yuan in North America, Europe, Oceania, etc., accounting for 85.57%, 5.04%, and 3.84% of revenue respectively. The foundation for the development of the North American market of Chuangyuan Co., Ltd. is solid, and with the continuous efforts of the company, the recognition of the company in the international market continues to increase.
While continuously exploring the international market, the cross-border e-commerce business that Chuangyuan has continued to develop in recent years has also reaped fruitful results. Chuangyuan Co., Ltd. pointed out in its 2023 annual report that the company's annual revenue and gross profit margin increased mainly due to the rapid growth of the cross-border e-commerce sector. Among them, the sales revenue of the cross-border e-commerce segment increased by 28.08% year-on-year, accounting for 23.08% of the consolidated revenue, and the gross profit of the main business of the cross-border e-commerce segment also increased by 48.9108 million yuan.
During the reporting period, companies such as Retfi, Retfi and Tuofan Sports under Chuangyuan Co., Ltd. sold fitness equipment, pet products, outdoor furniture, trampolines and other home fitness categories with their own brands (such as RITFIT, Kangaroo Hoppers, etc.) online through Amazon and self-built official websites. At the same time, we actively participate in exhibitions, visit excellent factories, and conduct market research to enhance industry professionalism and insight into customer needs. Continue to optimize the cost and inventory turnover capacity, and the competitiveness of the enterprise continues to strengthen.
The continuous improvement of the layout of overseas markets and the development of cross-border e-commerce channels have strongly promoted the continuous improvement of the international influence of Chuangyuan Co., Ltd., which will be of great benefit to the company to become an internationally competitive enterprise in the future.
Grasp the trend and R&D and innovation "one step ahead"
The sustainable development of the enterprise is inseparable from independent research and development and business innovation, and Chuangyuan shares, which occupies a leading position in the industry, are naturally well versed in this.
For a long time, Chuangyuan Co., Ltd. has adhered to the R&D and design as the drive, adhered to the differentiated development strategy, applied design and creativity to a variety of carriers based on paper products, and quickly met the personalized needs of customers with differentiated products and rapid R&D and design innovation.
In recent years, Chuangyuan Co., Ltd. has continuously increased its research and development efforts, strengthened core technology research, and has always been "one step ahead" in the latest technology direction and trends. In order to build R&D and design capabilities as the company's core competency, the company has invested heavily in building a design team combining internationalization and localization, building a national R&D center in China and a creative design center in the United States, simultaneously grasping the popular trends of the market at home and abroad, firmly grasping the latest development trends of the industry, and establishing a complete R&D system in order to quickly transform innovative technology into actual productivity.
On the basis of continuous optimization of R&D and design, Chuangyuan Co., Ltd. strives to build product standardization, actively upgrades and iterates on products and develops new ones, and strives to meet the trend and meet the diversified needs of customers at home and abroad.
Continuous investment has also achieved many honors and fruitful results. The company is a "National High-tech Enterprise", "the fourth among the top ten enterprises in China's light industry stationery and educational supplies industry", and in 2023, it was rated as "National Printing Demonstration Enterprise", "2023-2024 National Cultural Export Key Enterprise", "Ningbo Stationery Industry Standard Construction Advanced Unit", "Ningbo Stationery Industry Growth New Talent Award", and in 2022, the company was rated as "2017-2022 China Cultural, Educational and Sporting Goods Industry Advanced Enterprise" and "2022 Zhejiang Province Hero per Mu" The company's R&D team members won the gold medal (1 item) and silver medal (4 awards) of the "7th Uniasia Cup China-Japan Design Exchange Exhibition". As of the end of the reporting period, the company had obtained a total of 286 patents, including 28 invention patents, 210 utility model patents, 48 appearance patents and 1,979 art copyrights.
Chuangyuan Co., Ltd. will continue to increase investment in research and development, and invest 230 million yuan to build a digital cultural industrial park The project is progressing smoothly, and the main body of the project has been completed. In the future, it will help to establish a good foundation for the upstream and downstream industrial chain ecosystem, and further help improve the brand image.
Chuangyuan Co., Ltd. attracts more high-end talents through the project and forms a good R&D atmosphere. The continuous addition of "fresh blood" will also promote the company's steady development step by step.
On the whole, Chuangyuan Co., Ltd., which continues to deepen its main business, continuously strengthen marketing management, and fully tap market opportunities, has achieved double growth in revenue and net profit in 2023, and the company's profitability has been continuously strengthened, and its core competitiveness has become increasingly prominent. Focusing on market development and R&D innovation will provide surging impetus for the sustainable development of the enterprise, and Chuangyuan is expected to move forward quickly and move towards high-quality development.