迪阿股份：2023年年度报告（英文版）

2023AnnualReportofDRCorporationLimited 8 2023AnnualReport DRCorporationLimitedApril2024 2023AnnualReport PartI.ImportantNotes,ContentsandTerminology TheBoardofDirectors,theSupervisoryCommitteeandtheDirectors,SupervisorsandseniormanagementofDRCOwarrantthattheinformationofthisannualreportistrue,accurateandcompletewithoutanyfalsestatements,misleadingstatementsormaterialomissions,andtheyshallassumeindividualandjointlegalresponsibility. BothZhangGuotao,thelegalrepresentativeofDRCOandHuangShuirong,theheadofthefinancialdepartmentinchargeofthecorporateaccountingconfirmthefinancialstatementscontainedintheannualreportaretrue,accurateandcomplete. Alldirectorshaveattendedtheboardmeetingatwhichthisreportwasdeliberated. DespitethesteadygrowthacrossChina’sjewelryindustryDuringtheReportingPeriod,thediamondmarketwasdefinitelyinfluencedbyaggravatedstructuraldifferentiation,intensecompetition,sluggishdemandsfordiamondjewelryasconsumerdiscretionaryandobviouslyincreasinggoldsafe-havendemands.AccordingtostatisticsfromtheGems&JewelryTradeAssociationofChina,thediamondproductsmarketdeclinedabout27%year-on-yearin2023.Withafullyself-managedsalesmodelanddiamondjewelryasthemainstay,theCompany’soperatingrevenuedropped40.78%year-on-yearin2023,whichwasconsistentwiththediamondmarkettrend. Incontextofstrategicbrandupgrading,DRCOhasadjustedcorporatechannelstrategyandoptimizedthechannellayouttoenhancebrandimageandserviceexperience.Somelow-potentialstoresandthoseincompatiblewiththebrandimagewereclosed,relocatedorreplaced.AccordingtotheAccountingStandardsforBusinessEnterprisesandtheCompany’saccountingpolicies,DRCOmadeprovisionsforassetimpairmentonstoresthatshowedsignsofimpairment,andmadebaddebtprovisionforleasedepositsthatcouldnotberecoveredduetoearlyclosureofthestores,basedontheprudenceprincipleofaccounting.Theabove-mentionedmattershadamajorimpactontheCompany’sperformanceinnetprofitsduringthereportingperiod,withthenetprofitsattributabletoshareholdersdownby90.54%year-on-year. Infaceofever-changingmarket,DRCOwillmakeactiveresponseandproactivelyadjuststrategiestoboostbrandpotentialandproductcompetitiveness.Inparticular,wewillfocusonsoundbusinessoperationandstoreprofitability,andtakeactionstoreducecostsandincreaseefficiency,withaviewtopromotingsustainableandstabledevelopmentoftheCompany. Duringthereportingperiod,therewereneithermaterialadversechangesinDRCO'sprincipalbusinessandcorecompetitiveness,norovercapacityorpersistentdeclineinthejewelryindustrywithoutanysignificantriskstosustainableoperationoftheCompany(seedetailsin“I.Industrialsituationduringthereportingperiod”,“II.DRCOmainbusinessduringthereportingperiod”and“III.Analysisofcorecompetitiveness”underPartIII.ManagementDiscussionandAnalysis). Anyforward-lookingstatementsinthisreportthataddressfutureplansandobjectivesdonotconstitutematerialcommitmentsbyDRCOtoinvestorsandinvestorsandrelatedpartiesshouldbeawareoftherisksinvolvedandshouldunderstandthedifferencesbetweenplans,projectionsandcommitments. DRCOisrequiredtocomplywiththedisclosurerequirementsforjewelry-relatedbusinessspecifiedinthe Self-disciplinarySupervisionGuidelinesNo.3forCompaniesListedonShenzhenStockExchange-IndustryInformationDisclosure. AccordingtotheprofitdistributionplanapprovedbytheBoardofDirectors,acashdividendofRMB5.00(includingtax)forevery10sharesandzerobonusshare(includingtax)toallshareholders,aswellaszerosharetobetransferredtoallshareholdersfromcapitalreserveforevery10shares. TableofContents PartI.ImportantNotes,ContentsandTerminology1 PartII.CompanyProfileandKeyFinancialIndicators8 PartIII.ManagementDiscussionandAnalysis14 PartIV.CorporateGovernance68 PartV.EnvironmentalProtectionandSocialResponsibility103 PartVI.ImportantMatters104 PartVII.ChangesinSharesandInformationofShareholders188 PartVIII.InformationaboutPreferredShares204 PartX.FinancialReport205 DocumentsAvailableforInspection IFinancialstatementssignedandsealedbyDRCO'slegalrepresentative,andtheheadofthefinancialdepartmentinchargeofthecorporateaccounting; IIOriginalcopyoftheauditors’reportsealedbytheaccountingfirm,andsignedandsealedbythecertifiedpublicaccountants; IIIAlloriginalcopiesofDRCO’sannouncementsanddocumentspubliclydisclosedonthewebsitesdesignatedbyChinaSecuritiesRegulatoryCommission(CSRC)inthereportingperiod; IVOriginalcopyofthe2023annualreport,whichhasbeensignedbyDRCO’slegalrepresentative;VOtherdocumentsavailableforinspection. Theabove-mentioneddocumentsarekeptattheBoardSecretaryOfficeofDRCO. Terminology Terms Definition Company,DRCOandDRCorporation DRCorporationLimited DarryCorporation ShenzhenDarryJewelryCo.,Ltd.,thepredecessorofDRCorporationLimited DRInvestment DRInvestment(Zhuhai)Co.,Ltd.,formerlyknownasShenzhenDRInvestmentCo.,Ltd.,isthecontrollingshareholderofDRCO. WendiNo.1 GongqingchengWendiNo.1InvestmentManagementPartnership(LP),ashareholderofDRCO WendiNo.2 GongqingchengWendiNo.2InvestmentManagementPartnership(LP),ashareholderofDRCO WendiNo.3 GongqingchengWendiNo.3InvestmentManagementPartnership(LP),ashareholderofDRCO DarryQianhai ShenzhenDar