Recently, Shenzhen Ellassay Fashion Co.Ltd(603808) announced the annual report of 2021 and the report of the first quarter of 2022. In 2021, the company achieved an operating revenue of about 2.363 billion yuan, a year-on-year increase of 20.4%, and its main business revenue reached a record high of 2.327 billion yuan, a year-on-year increase of 22.9%; The net profit attributable to the owner of the parent company was 304 million yuan, which decreased year-on-year due to the one-time income obtained by transferring part of the equity of the subsidiary baiqiu Shangmei in 2020; The actual net profit of the company after deducting non recurring profits and losses was about 250 million yuan, a year-on-year increase of 31.5%.
In the first quarter of 2022, the epidemic situation in China was severe, but enterprises actively promoted sales through social marketing and other means, and online e-commerce platforms also actively made efforts. In the first quarter, the operating revenue achieved a breakthrough against the trend, with a year-on-year increase of 17.2%, and the revenue of the company’s five brands increased year-on-year. However, due to the obvious increase in the number of Direct stores compared with the same period in 2021 and the large rigid costs during the epidemic, the company realized a non net profit of 49.22 million yuan in the first quarter of 2022, a year-on-year decrease of 45%.
At the same time, the company announced a new phase of share repurchase plan, which plans to repurchase shares at a price of 50 million yuan to 100 million yuan, with a repurchase price of no more than 15 yuan / share, reflecting the company’s long-term confidence in future development.
In 2021, the development of the company’s multi brand matrix achieved remarkable results, and its five brands increased in an all-round way during the reporting period.
The main brand Ellassay has developed steadily. In 2021, the revenue was about 1.012 billion yuan, with a year-on-year increase of about 7.8%; In the first quarter, online community marketing was actively adopted. At the same time, driven by the sales growth of online platforms, the revenue reached 261 million yuan, a year-on-year increase of 1.6%. Ed hardy began to recover from the severe impact of the epidemic in 2020. In 2021, the annual revenue was 308million yuan, an increase of 43.1%. In the first quarter, with the continuous efforts of Tiktok, the revenue was 83.69 million yuan, an increase of 21% year-on-year.
During the growth period, brands maintained rapid growth. Self portal brand achieved revenue of 175 million yuan in 2021, a year-on-year increase of more than 4 times. In the first quarter, when shops in first tier cities were affected, it still achieved revenue of 58.65 million yuan, a year-on-year increase of 92%; Laur è l brand also achieved sustained high growth in 2021, with revenue of about 241 million yuan, a year-on-year increase of 64.9%. In the first quarter, the brand online revenue increased by more than 90% year-on-year, driving the brand revenue of 53.51 million yuan, a year-on-year increase of 17%; The revenue of IRO Paris brand reached 592 million in 2021, an increase of 9% under the influence of more fluctuations in the euro exchange rate. In the first quarter, it achieved rapid growth overseas, with an overall revenue of about 163 million yuan, a year-on-year increase of 29%.
In 2021, the number of Direct stores of the company’s five brands increased significantly, with an overall increase of 68 compared with 2020. Affected by the epidemic in the first quarter, the number of brand franchise stores of the company decreased, and the number of Direct stores increased by 4.
In terms of online channels, the company achieved a comprehensive breakthrough in multi platform and multi brand in 2021, and maintained a high-speed growth trend in the first quarter. In the first quarter of the year, the revenue of Tiktok platform of Ellassay brand increased by more than 12 times, the revenue of vipshop increased by 130%, and the online revenue of brands under multi platform development increased by nearly 90% year-on-year; Ed hardy x is among the best in the tide brand category of Tiktok platform. In 2021, the brand online revenue increased by more than 5 times year-on-year, and in the first quarter, the brand online revenue increased by more than 8 times year-on-year; In the first quarter, Laur è l brand and iro Paris brand also doubled online in China. The self portal brand has only been online for more than a year. The online revenue increased by more than three times in 2021, and still maintained a high growth rate in the first quarter. Through the positive development of multi brands and multi platforms, the company achieved an online sales revenue of 270 million yuan in 2021, of which the online revenue of brand acquisition increased by 151% year-on-year. In the first quarter, online sales reached 89.03 million yuan, a year-on-year increase of 114%, and the proportion of online sales increased to 14.36%.
Benefiting from the comprehensive recovery of sales, the gross profit margin of the company’s main business in 2021 was higher than that in 2020, and the expense rate remained basically stable. During the reporting period, the company realized a net profit of 304 million yuan attributable to the owner of the parent company, which decreased year-on-year due to the one-time income obtained from the transfer of some equity of baiqiu Shangmei in 2020; The net profit attributable to shareholders of listed companies after deducting non recurring profits and losses was 250 million yuan, a year-on-year increase of 31.5%. Driven by the year-on-year growth of main business income, the ability of enterprises to create cash from operating activities was further improved. The cash received by enterprises from selling goods and providing labor services increased significantly year-on-year. The net cash flow from operating activities in 2021 was 300 million yuan, a year-on-year increase of 39%. (Zhu xianni)
