79 Supermarkets and Department Stores Including Better Life, RT-Mart, Yonghui, and Rainbow Released 2021 Results!

Supermarkets and Convenience Stores (12 companies)

1. Better Life

2021 Expected Net Loss of 170-210 Million Yuan

On April 22, Better Life released its 2021 performance forecast and apology announcement. For 2021, Better Life expects a net loss attributable to shareholders of listed companies of 170-210 million yuan, compared with a net profit of 112 million yuan in 2020, a year-on-year decrease of 252.17%-287.98%. In the announcement, Better Life stated that the company originally expected its 2021 operating results to be outside the scope of the performance forecast disclosure, so it did not disclose the 2021 performance forecast before the end of January 2022. As the audit work deepened, due to some deviations in accounting judgments and original estimates for some business activities, such as the recognition of investment income from the REITs issuance of Jinxing Road Plaza and goodwill impairment, after communication with accountants, the company confirmed a loss in 2021. At the same time, Better Life also issued an apology statement: the company's board of directors sincerely apologizes for the inconvenience caused to investors by this performance forecast. The company will analyze the reasons for this performance forecast and strengthen communication with audit institutions in future work to improve the accuracy of performance forecasts and avoid similar situations. In the ten days before Better Life announced its performance forecast, its stock price had already hit eight consecutive limit-up boards. On April 21, Better Life opened 4.62% higher at 12 yuan per share, with intraday volatility, falling more than 3% at one point, then rising again to the limit-up and closing at the limit. As of the close on April 21, Better Life reported 12.62 yuan per share, up 10.03%, with a total market value of 10.9 billion yuan. In the nine trading days up to April 21, Better Life had eight limit-up boards. From April 11 to April 21, Better Life's stock price accumulated a gain of 100%. However, after the close on April 21, Better Life issued a shareholder reduction announcement. Linzhi Tencent reduced its shareholding by 8,639,100 shares through block trades on April 19, 2022, a reduction ratio of 1.000007%. After this change, shareholder Linzhi Tencent held 43,195,137 shares, accounting for 4.999993% of Better Life's total share capital, and Linzhi Tencent was no longer a shareholder holding more than 5% of Better Life. Affected by this, on April 22, Better Life's stock price fell sharply, opening at 13.22 yuan and closing at 11.36 yuan, a drop of 9.98%. 2. Sun Art Retail Group (RT-Mart) 2021 Expected Net Loss of 750 Million to 950 Million Yuan On April 18, Sun Art Retail Group issued a "Profit Warning" announcement, expecting a net loss of approximately 750 million to 950 million yuan for fiscal 2022. (Image source: Sun Art Retail Group announcement) According to the announcement, based on a preliminary review of the group's unaudited consolidated management accounts, Sun Art Retail Group expects to record a net loss of approximately 750-950 million yuan for the 12 months ending March 31, 2022, calculated under Hong Kong Financial Reporting Standards, a decrease of approximately 3.044 billion to 3.244 billion yuan compared with the net profit of 2.294 billion yuan (unaudited) for the 12 months ending March 31, 2021. 3. Walmart FY2022 Revenue of $572.754 Billion, Up 2.4% Year-on-Year (Image source: China Retail Network) In fiscal 2022, Walmart's total revenue was $572.754 billion (approximately RMB 3.6257 trillion), up 2.4% year-on-year; net profit was $13.676 billion (approximately RMB 86.6 billion), up 1.2% year-on-year. In addition, Walmart China's Q4 net sales grew 26.7%, with comparable sales up 19.8%; among them, Sam's Club and e-commerce business performed well, with Walmart China's Q4 e-commerce net sales growing 93%, and a two-year stacked growth rate of 158%, making the performance quite impressive. In the earnings report, Walmart also mentioned some unfavorable factors affecting performance, such as supply chain issues and pandemic-related cost pressures. Due to the remarkable growth achieved in fiscal 2022, Walmart believes it is on track to achieve its fiscal 2023 goals. It is understood that Walmart also recently released its full-year guidance for 2023, and will increase its dividend by $0.01 to $0.56 per share, planning to repurchase $10 billion of stock in fiscal 2023.

4. Hualian Supermarket

2021 Revenue of 8.353 Billion Yuan, Net Profit Plunged 373.26%

On March 30, Hualian Supermarket released its 2021 annual report. In 2021, Hualian Supermarket achieved revenue of 8.353 billion yuan, a year-on-year decrease of 12.52%, mainly due to the normalization of domestic COVID-19 prevention and control and intensified market competition leading to a decline in customer traffic; net profit attributable to the parent company's shareholders was -281 million yuan, a year-on-year decrease of 373.26%, mainly due to reduced operating revenue and gross profit, increased expenses from the implementation of new lease standards, and asset disposal from store closures; basic earnings per share were -0.42 yuan, a year-on-year decrease of 380%. Hualian Supermarket is headquartered in Beijing and mainly operates supermarket retail, with stores distributed in North China, East China, South China, Southwest, Northwest, Northeast, and other regions. As of the end of 2021, Hualian Supermarket had more than 100 stores. In 2021, Hualian Supermarket opened 10 new stores and closed 15 stores. The number of members was 7.759 million, of which 892,000 were active members and 6.867 million were inactive members. In 2021, Hualian Supermarket achieved online sales of 216 million yuan through third-party platforms.

5. Lianhua Supermarket

2021 Turnover of 24.76 Billion Yuan, Loss of 423 Million Yuan

On March 29, Lianhua Supermarket released its 2021 performance report. In 2021, Lianhua Supermarket achieved turnover of 24.760 billion yuan, a year-on-year decrease of approximately 6.0%; annual loss attributable to shareholders of the company was approximately 423 million yuan, with basic loss per share of approximately 0.38 yuan; gross profit was approximately 3.062 billion yuan, a year-on-year decrease of approximately 13.4%, with gross margin of approximately 12.37%, a decrease of 1.06 percentage points year-on-year; distribution costs and administrative expenses were approximately 5.716 billion yuan, a year-on-year decrease of approximately 1.29%; same-store sales decreased approximately 4.88% year-on-year, with hypermarket format down approximately 5.63%, supermarket format down approximately 7.38%, and convenience store format up approximately 48.30%. For the decline in performance, Lianhua Supermarket gave two explanations: 1. In the post-pandemic period, affected by repeated outbreaks and declining offline traffic, competition in the retail industry intensified, and revenue generally declined. 2. In the past two years, Lianhua Supermarket has closed some stores due to relocation, losses, and other reasons, which had a certain impact on turnover. Among them, in 2021, the hypermarket format was particularly affected by the pandemic and store closures, with turnover decreasing from approximately 15.026 billion yuan in the same period last year to approximately 13.580 billion yuan, a year-on-year decrease of approximately 1.446 billion yuan. Among them, the key store Huashang Store in Zhejiang was closed in March 2021 due to lease expiration and relocation, reducing turnover by approximately 600 million yuan year-on-year. As of December 31, 2021, Lianhua Supermarket had a total of 3,279 stores, a net increase of 87 stores compared with the end of 2020.

6. Jingkelong

2021 Revenue of 11.06 Billion Yuan, Net Loss of 22.4742 Million Yuan

On March 30, Beijing Jingkelong released its 2021 performance announcement. During the reporting period, Jingkelong achieved operating revenue of 11.06 billion yuan, of which main business revenue was 10.1 billion yuan; net loss attributable to owners of the parent company was 22.4742 million yuan, compared with a net profit attributable to shareholders of 54.6606 million yuan in the same period last year. As of December 31, 2021, Jingkelong had a total of 161 retail stores, including 10 hypermarkets, 54 supermarkets, and 96 convenience stores.

7. Hongqi Chain

2021 Revenue of 9.351 Billion Yuan, Net Profit Down 4.66%

On April 1, Hongqi Chain released its 2021 financial report. In 2021, Hongqi Chain achieved revenue of 9.351 billion yuan, a year-on-year increase of 3.29%; net profit attributable to shareholders of the listed company was 481 million yuan, a year-on-year decrease of 4.66%. In 2021, Hongqi Chain opened 412 new stores, closed 146 stores, and upgraded 193 old stores. As of December 31, 2021, Hongqi Chain had a total of 3,602 stores (mostly distributed in 23 districts (cities) of Greater Chengdu), including 154 24-hour stores; and 91 Gansu Hongqi convenience stores. 8. Sanjiang Shopping Club Revenue of 3.925 Billion Yuan, Net Profit Down 27.84% On April 13, Sanjiang Shopping Club released its 2021 annual report. The company achieved operating revenue of 3.925 billion yuan for the full year, a year-on-year decrease of 8.73%; net profit attributable to the parent company was 88 million yuan, a year-on-year decrease of 27.84%. In the board report of Sanjiang Shopping Club, it was mentioned that in 2021, the company made achievements in upgrading new retail stores. Among them, the Ningbo Hema Fresh stores operated by Sanjiang Shopping Club achieved profitability for four consecutive months. As for the reasons for the decline in performance, Sanjiang Shopping Club pointed out that on the one hand, in the same period of 2020, affected by the pandemic, the company's sales increased significantly; on the other hand, in 2021, retail competition was fierce, ultimately leading to a decline in sales. As of the end of 2021, Sanjiang Shopping Club had a total of 225 stores, including 127 community stores, 5 Hema stores, and 93 neighborhood stores, with 197 located in Ningbo.

9. New Huadu

2021 Revenue of 5.032 Billion Yuan, Net Profit Down 90.65%

On March 30, New Huadu Shopping Plaza Co., Ltd. released its 2021 annual report. In 2021, New Huadu achieved operating revenue of 5.032 billion yuan, a year-on-year decrease of 3.06%; net profit attributable to shareholders of the listed company was 17.0031 million yuan, a year-on-year decrease of 90.65%; net profit attributable to shareholders of the listed company excluding non-recurring gains and losses was 16.1116 million yuan, a year-on-year decrease of 89.72%. Among them, the internet marketing business was the most important source of profit for New Huadu, with total operating revenue of 1.925 billion yuan, a year-on-year increase of 32.99%; net profit of 120 million yuan, a year-on-year increase of 19.46%. 10. Zhongbai Group Revenue of 12.3 Billion Yuan, Net Profit Down 152.13% Image source: Retail Information On March 26, Zhongbai Group disclosed its 2021 annual report, showing operating revenue of 12.331 billion yuan, a year-on-year decrease of 6.08%; net profit attributable to shareholders of the listed company was a loss of 22.4827 million yuan, a year-on-year decrease of 152.13%; net profit attributable to shareholders of the listed company excluding non-recurring gains and losses was a loss of 104 million yuan, a year-on-year decrease of 313.22%. During the reporting period, 242 new commercial outlets were developed, bringing the total number of outlets to 1,539, a net increase of 112 compared with the end of 2020. It is reported that in 2021, the convenience store format accelerated its layout in second- and third-tier cities in Hubei and Hunan provinces, reaching 14 cities in total, with further increased regional layout efforts. 11. Renrenle Net Loss Exceeding 800 Million Yuan, Closed 37 Stores On April 14, Renrenle released its annual report, showing operating revenue of approximately 5.096 billion yuan, a year-on-year decrease of 14.81%; net profit attributable to shareholders of the listed company was a loss of approximately 857 million yuan, a year-on-year decrease of 2522.88%. During the reporting period, the company implemented a store closure strategy, which was conducive to reducing losses and stopping losses. The company closed stores that continued to lose money with no hope of turning around, or that lacked conditions for continuous operation. A total of 37 stores were closed during the reporting period, which was conducive to reducing losses and stopping decline, optimizing store structure, carrying out resource integration, and promoting the company's strategic transformation and sustainable development. During the reporting period, the company innovated store format transformation and upgrading and demonstrated operations. It tried 12 membership discount stores, gradually upgraded the product structure of 24 Le super stores to the R-one model, and continued to increase online network operations. As of December 31, 2021, the company's business covered more than 30 cities in 8 provinces, autonomous regions, and municipalities directly under the central government, including Guangdong, Guangxi, Fujian, Hunan, Chengdu, Chongqing, Xi'an, and Tianjin, with 117 physical stores. During the reporting period, the company closed 37 stores and opened 5 new stores. 12. Lawson Profit of 91 Million Yuan in China Market On January 14, Japan's Lawson released its consolidated financial results for March-November 2021, with total revenue of 522.4 billion yen (approximately 26.407 billion yuan), a year-on-year increase of 5%; net profit of 24.3 billion yen (approximately 1.228 billion yuan), double that of the same period last year. In overseas business, the China business developed well, with a profit of 1.8 billion yen (approximately 91 million yuan), compared with a loss of 188 million yen in the same period last year. Lawson also accelerated its development pace in the Chinese market in 2021. In November 2021, Lawson acquired the national equity of Sichuan WOWO Supermarket and entered the Chengdu market. On December 29, Lawson acquired 100% equity of Tianhong Weiao for 310 million yuan, strengthening its presence in the South China market. As of September 10, 2021, Lawson had 4,000 stores in the Chinese market. It plans to deploy 6,000 convenience stores in China by 2022, and open more than 10,000 stores in the Chinese market by 2025. Its layout and expansion in the Chinese market will mainly focus on opening stores and expanding provinces. Department Stores

1. Rainbow Holdings

2021 Net Profit Decreased 8.41%, Closed 3 Shopping Centers

On the evening of March 10, Rainbow Holdings released its 2021 annual performance report. In 2021, the company's operating revenue was approximately 12.268 billion yuan, an increase of 3.97% year-on-year; net profit attributable to shareholders of the listed company was approximately 232 million yuan, a decrease of 8.41% year-on-year; net profit attributable to shareholders of the listed company excluding non-recurring gains and losses was -88.3714 million yuan, compared with a profit of 30.945 million yuan in the same period last year; net cash flow from operating activities was 2.734 billion yuan, a year-on-year increase of 165.11%. During the reporting period, Rainbow opened a total of 8 shopping centers in Guangdong, Hunan, Jiangxi, and Jiangsu provinces, and opened a total of 18 supermarkets in Guangdong, Jiangsu, Hunan, Jiangxi, and Fujian provinces (including 12 sp@ce independent supermarkets). It closed 3 shopping centers and 3 supermarkets. As of the end of the reporting period, the company had a total of 33 signed but not yet opened reserve projects, with a total area of approximately 1.549 million square meters. Among them, there were 20 shopping center/department store projects with an area of approximately 1.495 million square meters; and 13 independent supermarket projects with an area of approximately 54,000 square meters. 2. Wangfujing Net Profit of Approximately 1.34 Billion Yuan, Up 295.6% Year-on-Year On April 22, Wangfujing released its 2021 performance report, with operating revenue of approximately 12.753 billion yuan, a year-on-year increase of 10.55%; net profit attributable to shareholders of the listed company was approximately 1.34 billion yuan, a year-on-year increase of 295.61%. The report stated that Wangfujing's operating revenue mainly came from the sales revenue of goods from its various stores and rental income from functional merchants. Wangfujing introduced more than 2,150 new resources throughout the year and introduced more than 560 regional first-store brands. As of the end of the reporting period, Wangfujing operated 74 large comprehensive retail stores in 35 cities across seven major economic regions in China, involving department stores, outlet malls, and shopping center formats, with a total operating construction area of 4.34 million square meters. Wangfujing also involves supermarket formats, specialty stores, and online business, and will engage in duty-free goods business in the future.

3. Maoye International

2021 Net Profit Increased 144.4%, Added 1 New Store

On March 25, Maoye International released its annual performance announcement for the year ended December 31, 2021. Data showed that in 2021, Maoye International achieved total sales proceeds and rental income of 11.547 billion yuan, a year-on-year increase of 8.0%; operating revenue of 6.4 billion yuan, a year-on-year decrease of 20.2%; net profit of 111 million yuan, a year-on-year increase of 144.4%. In addition, during the reporting period, Maoye International added 1 new store. According to the announcement, on December 12, 2021, Taizhou Maoye World officially opened. As of the end of the reporting period, Maoye International had a total of 48 stores, including 17 shopping centers, 28 department stores, and 3 outlet malls.

4. Grandbuy

2021 Revenue Increased 57%, Net Profit Increased 12.24%

On March 25, Grandbuy announced its 2021 annual report. In 2021, the company achieved operating revenue of 5.976 billion yuan, a year-on-year increase of 56.96%; net profit attributable to shareholders of the listed company was 261 million yuan, a year-on-year increase of 12.24%; net profit attributable to shareholders of the listed company excluding non-recurring gains and losses was 101 million yuan, a year-on-year increase of 97.04%; net cash inflow from operating activities was 522 million yuan, a year-on-year increase of 239.43%. As of the end of 2021, Grandbuy had opened 30 stores in Guangzhou urban area and other cities in Guangdong Province, including 15 comprehensive department stores in Guangzhou urban area, 3 shopping centers, 3 supermarket specialty stores, and 1 watch specialty store; 7 comprehensive department stores and 1 shopping center in other cities in Guangdong Province, with a total area of approximately 660,000 square meters. All stores are directly operated, and in 2021, store operating revenue was 4.594 billion yuan.

5. Dashang Group

2021 Revenue Down 2.28%, Closed 7 Stores

On April 8, Dashang Group released its 2021 financial report. According to the announcement, in 2021, Dashang Group achieved operating revenue of 7.932 billion yuan, a year-on-year decrease of 2.28%; net profit attributable to shareholders of the listed company was 702 million yuan, a year-on-year increase of 40.60%. By business format, department stores achieved revenue of 2.119 billion yuan in 2021, a year-on-year decrease of 1.26%; supermarkets achieved operating revenue of 2.484 billion yuan, a year-on-year decrease of 13.13%; home appliances achieved revenue of 689 million yuan, a year-on-year increase of 6.55%; other formats achieved revenue of 393 million yuan, a year-on-year increase of 4.90%. The announcement showed that in 2021, Dashang Group closed 7 stores. As of the end of 2021, Dashang Group had 70 department stores, 33 supermarkets, and 19 appliance stores. 6. Golden Eagle Retail Revenue of 5.717 Billion Yuan, Up 2.31% Year-on-Year On March 23, Golden Eagle Retail Group released its 2021 financial report, showing operating revenue of 5.717 billion yuan, a year-on-year increase of 2.31%, net profit attributable to the parent company of 1.614 billion yuan, a year-on-year increase of 3.29%, and basic earnings per share of 0.97 yuan. As for the increase in revenue, due to the increase in sales proceeds, it is mainly attributed to a 6.1% year-on-year increase in retail same-store sales despite multiple regional pandemic resurgences; and a decrease in property sales of 76.7 million yuan or 38.1% to 125 million yuan, because there was no significant delivery of property units in 2021, while in 2020, the group delivered the remaining pre-sold second-phase units of the Yangzhou New City Center project to buyers. 7. Xinhua Commercial Net Profit of 51.4557 Million Yuan, Up 18.87% Recently, Xinhua Commercial released its 2021 annual report, showing operating revenue of 5.705 billion yuan, an increase of 0.20% year-on-year; net profit attributable to shareholders of the listed company was 51.4557 million yuan, a year-on-year increase of 18.87%. In 2021, with sporadic COVID-19 outbreaks and intensified market competition, the company continuously consolidated its regional development advantages, fully utilized the efficiency of resource integration, strengthened the management and expansion of businesses in surrounding provinces, and comprehensively did a good job in store and product operation management, ensuring performance growth. As of the reporting period, in 2021, the company opened 60 stores of various types, which supported the increase in operating revenue. In addition, by expanding the proportion of self-purchased products, gross margin improved, and operating costs decreased by 2.63%. 8. Yuyuan Revenue of 51.063 Billion Yuan, Up 12.15% On March 21, Yuyuan's 2021 annual report showed that the company achieved operating revenue of 51.063 billion yuan, a year-on-year increase of 12.15%; net profit attributable to shareholders of the listed company excluding non-recurring gains and losses was 2.799 billion yuan, a year-on-year increase of 13.39%; net profit attributable to shareholders of the listed company was 3.861 billion yuan, a year-on-year increase of 6.92%. During the reporting period, Yuyuan achieved total real estate sales of 17.454 billion yuan, with a sales area of 750,500 square meters, and achieved carry-over revenue of 16.634 billion yuan, with a carry-over area of 1.0862 million square meters. At the end of the reporting period, the area to be carried over was 712,000 square meters. As of the end of 2021, operating revenue from commercial complexes and property comprehensive services was 1.015 billion yuan, a year-on-year decrease of 6.51%; gross margin was 41.68%, an increase of 9.79 percentage points year-on-year; resort operating revenue was 353 million yuan, a year-on-year decrease of 29%, with a gross margin of 81.32%; property development and sales operating revenue was 16.634 billion yuan, a year-on-year decrease of 10.84%. 9. COFCO Joy City Net Profit of 108 Million Yuan, Up 127.79% On April 11, COFCO Joy City released its 2021 annual report, showing that the company achieved operating revenue of 42.614 billion yuan, a year-on-year increase of 10.84%; comprehensive gross margin was 27.44%, down 4 percentage points from 31.44% in the previous year; gross profit was 11.692 billion yuan, a year-on-year decrease of 3.28%; net profit was 767 million yuan, a year-on-year decrease of 31.65%; net profit attributable to the parent company was 108 million yuan, a year-on-year increase of 127.79%. In 2021, domestic retail and hotel businesses gradually recovered. The company's holding-type business and hotel operating income steadily increased. Investment properties and related services achieved operating revenue of 5.048 billion yuan, a year-on-year increase of 13.74%. Hotel operations achieved operating revenue of 766 million yuan, a year-on-year increase of 28.10%.

10. Dongbai Group

2021 Revenue of 1.895 Billion Yuan, Net Profit Down 38.70%

On April 21, Fujian Dongbai Group Co., Ltd. released its 2021 main operating data announcement. In 2021, Dongbai Group achieved operating revenue of 1.895 billion yuan, a year-on-year increase of 3.87%, mainly due to the significant growth in commercial retail performance. Net profit attributable to shareholders of the listed company was 125 million yuan, a year-on-year decrease of 38.70%, mainly due to a decrease of 75 million yuan in net profit attributable to shareholders of the listed company from the warehousing and logistics business compared with the previous period. In the previous period, the Foshan Lubao project was disposed of, and no projects exited during this reporting period.

11. Ningbo Zhongbai

2021 Revenue of 834 Million Yuan, Net Profit Up 59.38%

On March 28, Ningbo Zhongbai released its annual performance announcement for the year ended December 31, 2021. The financial report showed that for the full year of 2021, Ningbo Zhongbai achieved operating revenue of 834 million yuan, a year-on-year increase of 13.21%; net profit attributable to shareholders of the listed company was 36 million yuan, a year-on-year increase of 59.38%. Ningbo Zhongbai pointed out that the main reason for the increase in revenue was the easing of the pandemic and increased sales revenue. According to the announcement, during the reporting period, Ningbo Zhongbai's department store retail revenue was 817 million yuan. As of the end of the reporting period, Ningbo Zhongbai had 1 department store.

12. Jiahua Department Store

2021 Loss of 110 Million Yuan, Down 48.5% Year-on-Year

On the evening of March 29, Jiahua Department Store Holdings released its 2021 annual performance report. In 2021, the company achieved revenue of approximately 434 million yuan, a year-on-year increase of 1.4%; loss attributable to equity holders of the parent company was approximately 110 million yuan, a year-on-year decrease of 48.5%; gross profit from sales was approximately 14.2 million yuan, a year-on-year decrease of 66.7%. The report showed that Jiahua Department Store Holdings currently has 8 retail stores and 2 shopping centers. During the year, Jiahua Department Store's total rental income was 150.6 million yuan, and net rental income was 131.2 million yuan. Among them, shopping center rental income increased by 19.7 million yuan to 80.7 million yuan, a year-on-year increase of 32.3%, accounting for 18.6% of total revenue. In addition, to reduce operating burden, Jiahua Department Store closed two stores: Guangxi Taoyuan Store and Foshan Yanbu Store. Among them, the Guangxi Taoyuan Store was not renewed due to lease expiration and rapid deterioration of the surrounding business environment; the Foshan Yanbu Store's performance deteriorated due to surrounding environmental factors. After negotiation with the landlord and obtaining exemption from termination compensation, the lease agreement was terminated early.

13. Shoppers Stop

2021 Loss of 438 Million Yuan, Department Store Business Revenue Down 9.5%

On March 29, Shoppers Stop Holdings (China) Co., Ltd. announced its annual results for the year ended December 31, 2021. During the reporting period, Shoppers Stop's 2021 revenue was 230 million yuan, a year-on-year decrease of 52.2%; loss attributable to owners of the company was 438 million yuan, compared with a loss of 75.1 million yuan in 2020; operating loss was 399 million yuan, compared with an operating profit of 28.1 million yuan in 2020. Among them, the overall revenue of the department store business decreased by 9.5% from 254 million yuan in 2020 to 230 million yuan in 2021. As of December 31, 2021, the group owned and/or operated 16 department stores with a total gross floor area of 301,030.1 square meters.

14. Andeli

2021 Revenue of 1.677 Billion Yuan, Loss of 51.5674 Million Yuan

On the afternoon of March 24, Andeli announced its 2021 annual performance express report. In 2021, Andeli achieved revenue of 1.677 billion yuan, a year-on-year decrease of 5.01%; operating profit was -52.6279 million yuan, a year-on-year decrease of 3640.57%; total profit was -52.935 million yuan, a year-on-year decrease of 2759.44%; net profit attributable to shareholders of the listed company was -51.5674 million yuan, a year-on-year decrease of 682.35%; net profit attributable to shareholders of the listed company excluding non-recurring gains and losses was -55.8744 million yuan, a year-on-year decrease of 331.04%; basic earnings per share were approximately -0.46 yuan, a year-on-year decrease of 666.67%.

15. Jiebai Group

2021 Revenue Increased 18.98%, Hangzhou Tower Revenue Increased 19.83%

On March 24, Hangzhou Jiebai released its 2021 annual report. According to the announcement, in 2021, Jiebai achieved operating revenue of 2.129 billion yuan, a year-on-year increase of 18.98%; net profit attributable to shareholders of the listed company was 351 million yuan, a year-on-year increase of 31.36%. Among them, retail business revenue was 1.773 billion yuan, accounting for 83.27%. In 2021, Hangzhou Tower's operating revenue grew rapidly, with a year-on-year increase of 19.83%.

16. Hefei Department Store

2021 Net Profit Increased 31.95% Year-on-Year

On April 8, Hefei Department Store released its 2021 annual report. In 2021, Hefei Department Store achieved operating revenue of 6.338 billion yuan, a year-on-year increase of 0.13%; net profit attributable to shareholders of the listed company was 181 million yuan, a year-on-year increase of 31.95%. Among them, the supermarket format achieved revenue of 3.181 billion yuan, department stores achieved revenue of 1.14 billion yuan; home appliances achieved revenue of 842 million yuan. According to the announcement, during the reporting period, Hefei Department Store closed 1 department store, 15 supermarkets, and 1 home appliance store, and opened 22 new supermarkets. As of the end of the reporting period, Hefei Department Store had a total of 251 stores in three formats: department stores, supermarkets, and home appliances, including 25 department stores, 201 supermarkets, and 25 home appliance stores.

17. Inzone Group

2021 Turned Loss into Profit, Revenue of 5.671 Billion Yuan

On the evening of April 12, Inzone Group (hereinafter referred to as "Inzone") released its 2021 annual report. According to the announcement, in 2021, Inzone achieved operating revenue of approximately 5.671 billion yuan, an increase of 4.8% year-on-year; net profit attributable to shareholders of the listed company was approximately 36.2003 million yuan, compared with a loss of 386 million yuan in the same period last year, turning from loss to profit. The announcement pointed out that Inzone's commercial operating revenue in 2021 was 5.697 billion yuan, a year-on-year increase of 5.52%; real estate operating revenue decreased by 38.0554 million yuan year-on-year. In 2021, Inzone opened 4 new stores in Liaocheng, Dongying, Zibo, and Jinan, and closed 12 stores. As of the board review date of this report, 3 stores were closed in 2022, and the company had a total of 117 stores (including 23 Linqu Huaxing stores). At the same time, the company was entrusted to manage 51 non-listed stores under Shandong Inzone Mall Co., Ltd.

18. Ewushang

2021 Net Profit of 752 Million Yuan, Up 37.45% Year-on-Year

On March 30, Wuhan Wushang Group Co., Ltd. released its 2021 annual report. During the period, the company achieved operating revenue of 7,126,519,200 yuan, a year-on-year decrease of 6.71%; net profit attributable to shareholders of the parent company was 752,423,700 yuan, a year-on-year increase of 37.45%; total profit was 1,002,624,000 yuan, a year-on-year increase of 38.25%. The company has more than 10 shopping centers under its umbrella, including Wushang MALL·Guoguang, Wushang MALL·Wuguang, and Wushang MALL·Shimao, located in core business districts in Wuhan, Xiangyang, Shiyan, Xiantao, Huangshi, Laohekou, etc. The total construction area of shopping centers is approximately 1.32 million square meters, with self-owned property construction area of approximately 1.162 million square meters. The supermarket business is deployed in Wuhan and multiple second-tier cities in Hubei Province, with 72 stores, of which 33 are in Wuhan and 39 are in other cities in Hubei Province, including Ezhou, Jingzhou, Huanggang, Xiangyang, Yichang, Shiyan, Xiaogan, Huangshi, Xianning, Xiantao, Qianjiang, etc. The total construction area of supermarket stores is approximately 588,000 square meters, with self-owned property construction area of approximately 125,000 square meters. The company's total self-owned property construction area is approximately 1.29 million square meters. 19. Chongqing Department Store Revenue of 21.124 Billion Yuan, Will Close 22 Stores This Year Recently, Chongqing Department Store released its 2021 financial report, showing operating revenue of 21.124 billion yuan, a year-on-year increase of 0.22%; net profit attributable to the parent company of 980 million yuan, a year-on-year decrease of 6.68%; net profit attributable to the parent company after deducting non-recurring gains and losses of 923 million yuan, a year-on-year increase of 58.65%. The report showed that Chongqing Department Store continued to optimize its network layout, adding 10 new stores and closing 16 last year. At the same time, in 2022, while adding new stores, it plans to close 22. As of December 31, 2021, Chongqing Department Store operated 304 various shopping malls and stores. Among them, 53 in the department store format, 178 in the supermarket format, 44 in the appliance format, and 29 in the auto trade format. It is worth mentioning that Chongqing Department Store's business outlets have been deployed in 36 districts and counties in Chongqing and in Sichuan, Guizhou, Hubei, and other places, with 24 stores outside the main city. 20. Nanning Department Store Net Profit of 2.639 Million Yuan, Up 102% Year-on-Year On April 19, Nanning Department Store's 2021 performance showed operating revenue of 808 million yuan, a year-on-year increase of 3.65%; total profit of 8.4918 million yuan, a year-on-year increase of 105.77%; net profit attributable to shareholders of the listed company of 2.6387 million yuan, a year-on-year increase of 102.03%. During the reporting period, the company's main business revenue accounted for 89.39% of total operating revenue, and rental income accounted for 4.01% of total operating revenue; among the revenue structure of various formats, department store format revenue accounted for 15.63%, home appliance format revenue accounted for 54.38%, supermarket format revenue accounted for 13.77%, automobile format revenue accounted for 10.74%, e-commerce accounted for 0.96%, and others accounted for 4.52%. 21. Lifestyle China Revenue of Approximately 1.3 Billion Yuan, Up 15.6% Year-on-Year Recently, Lifestyle China's 2021 annual report showed revenue of approximately 1.3 billion yuan, a year-on-year increase of 15.6%, surpassing the pre-pandemic level of 1.204 billion yuan in 2019. Net profit attributable to shareholders of the company was 143 million yuan, a decrease compared with 213 million yuan in 2020. According to Lifestyle China, the increase was mainly due to the successful marketing strategies at the two Jiuguang stores driving sales, especially in the first half of 2021, plus the contribution from the new Shanghai Jiuguang Center since the end of November. Lifestyle China's full name is Lifestyle China Group Limited, a well-known department store operator in China. The company operates Shanghai Jiuguang Store, Suzhou Jiuguang Store, and Dalian Jiuguang Store. Specialty Stores

1. Watsons

China Revenue Achieved the Largest Increase in 7 Years, but Profits Declined

On March 17, Watsons' parent company CK Hutchison Holdings Limited announced its 2021 financial results. During the period, the retail segment Watsons Group's total retail sales were HK$173.601 billion (approximately RMB 144.095 billion), a year-on-year increase of 8.7%, with profit of HK$12.46 billion (approximately RMB 10.342 billion). The group achieved growth in both revenue and profit. However, the situation in China was not ideal. Financial data showed that although retail sales in China reached HK$22.770 billion (approximately RMB 18.900 billion), a year-on-year increase of 14%, the largest increase in the Chinese market in 7 years, it is worth noting that profits continued to decline, only HK$1.808 billion (approximately RMB 1.5 billion), even lower than the HK$1.952 billion (approximately RMB 1.736 billion) during the trough in 2020.

2. Gome

2021 Loss of 4.4 Billion Yuan, Narrowed 37.06% Year-on-Year

On March 31, Gome Retail released its 2021 financial report. The financial report showed that in 2021, Gome Retail's sales revenue was 46.484 billion yuan, a year-on-year increase of 5.36%, marking the first positive annual revenue growth since 2017. Gome explained that the growth was mainly driven by the group's accelerated implementation of the "Home·Life" strategy. In addition, Gome's net loss was 4.402 billion yuan, narrowed by 37.06% year-on-year. As of February, Gome's SKU count was nearly 2 million; Zhenkuaile's monthly active users reached 70 million, with an average daily active users of about 3.5 million; Anxun Logistics' third-party business ratio had exceeded 48%; Gome's sharing and co-construction had completed the construction of a supply chain platform and traffic platform, achieving data sharing, member integration, and points exchange, and introduced KOL/KOC, manufacturers, and channel merchants to settle in. As of the end of February, more than 2,000 KOL/KOC, 4,200 manufacturers, and 6,000 channel merchants had settled in.

3. Suning.com

2021 Full-Year Expected Loss of 42.3-43.3 Billion Yuan

On the evening of January 28, Suning.com Group Co., Ltd. released its performance forecast. The company expects a net profit attributable to shareholders of the listed company of -43.3 billion to -42.3 billion yuan for January-December 2021, a year-on-year change of -912.94% to -889.54%. 2021 was the beginning of Suning.com's transformation into a retail service provider, facing huge difficulties, but the team still sought breakthroughs in difficulties, continuously improving channels and sinking markets, accumulating strength for sales recovery and sustainable growth. In 2021, the retail cloud business continued to maintain rapid development. During the reporting period, 2,678 new franchise stores were opened, expanding into home furnishing and quick repair tracks. As of the end of the reporting period, Suning.com had 9,178 retail cloud franchise stores. With the support of all parties and the unremitting efforts of all employees, the company's operating conditions gradually improved. To more intuitively evaluate the recovery of the company's operating cash flow, excluding the impact of non-operating cash flow-related factors, according to the company's finance department statistics, the company's monthly EBITDA in November was 2.08 billion yuan, turning positive, and continued to be positive in December.

4. Easyhome

2021 Revenue of 13.071 Billion Yuan, Up 44.88% Year-on-Year

On April 21, Easyhome New Retail Group Co., Ltd. released its 2021 annual report. In 2021, Easyhome achieved operating revenue of 13.071 billion yuan, a year-on-year increase of 44.88%, net profit attributable to shareholders of the listed company of 2.325 billion yuan, a year-on-year increase of 71.36%, and sales (GMV) of 104.03 billion yuan. As of December 31, 2021, Easyhome operated 421 home furnishing malls in 29 provinces, autonomous regions, and municipalities directly under the central government, including 95 directly operated malls and 326 franchise malls; among the 95 directly operated malls, 78 were leased properties and 17 were self-owned properties.

5. Red Star Macalline

2021 Revenue Increased 8.97%, Self-Operated Mall Revenue of 8.09 Billion Yuan

On March 30, Red Star Macalline Home Furnishing Group Co., Ltd. released its 2021 annual report. It is understood that in 2021, Red Star Macalline achieved operating revenue of 15.513 billion yuan, a year-on-year increase of 8.97%; net profit attributable to the parent company of 2.047 billion yuan, a year-on-year increase of 18.31%; net profit attributable to the parent company after deducting non-recurring gains and losses of 1.657 billion yuan, a year-on-year increase of 42.62%. In 2021, Red Star Macalline's self-operated mall revenue reached 8.09 billion yuan, a year-on-year increase of 21.1%, with an occupancy rate of 94.1%, an increase of 2.0 percentage points compared with the same period in 2020, exceeding the 93.4% in the same period of 2019. As of the end of the reporting period, Red Star Macalline operated 95 self-operated malls, 278 managed malls, 10 strategic cooperative malls, and 69 franchise home furnishing and building materials projects, including a total of 485 home furnishing and building materials stores/industrial streets, covering 224 cities in 30 provinces, municipalities, and autonomous regions across the country, with a total operating area of 22.3035 million square meters. FMCG

1. Kweichow Moutai

2021 Revenue of 106.19 Billion Yuan, Up 11.9% Year-on-Year

On March 31, Kweichow Moutai Co., Ltd. released its 2021 annual report. The report showed that Kweichow Moutai achieved operating revenue of 106.19 billion yuan, a year-on-year increase of 11.9%; net profit of 52.46 billion yuan, a year-on-year increase of 12.3%. Among different products in the main business, Moutai liquor achieved revenue of 93.46 billion yuan, a year-on-year increase of 10.2%; other series liquors achieved revenue of 12.59 billion yuan, a year-on-year increase of 26.1%. At the same time, Kweichow Moutai disclosed production volumes for different products. In 2021, Moutai liquor and other series liquors achieved production of 56,000 tons and 28,000 tons, respectively, a year-on-year increase of 12.4% and 13.3%, both achieving double-digit growth. It is worth mentioning that Kweichow Moutai announced its 2022 operating targets in the announcement: total operating revenue to increase by about 15% compared with the previous year, and complete basic construction investment of 6.97 billion yuan.

2. Feihe

2021 Total Revenue of 22.78 Billion Yuan, Up 22.5% Year-on-Year

On the evening of March 28, China Feihe released its 2021 full-year results, achieving total revenue of 22.78 billion yuan, a year-on-year increase of 22.5%; net profit of 6.9 billion yuan, excluding the premium purchase gain from Original Ecology in 2020, a year-on-year increase of 21.2%. In 2021, Feihe's R&D investment was 430 million yuan, a significant year-on-year increase of 60.5%. During the reporting period, Feihe published 39 papers in authoritative domestic and international journals, conducted 2 scientific research clinical trials, obtained 105 authorized patents, and participated in the formulation of 12 national, industry, and team standards.

3. Mengniu Dairy

2021 Net Profit of 5.026 Billion Yuan, Up 42.6%

On March 30, Mengniu released its 2021 performance report. In 2021, the group's revenue was 88.142 billion yuan, a year-on-year increase of 15.9%; profit attributable to owners of the company was 5.026 billion yuan, a year-on-year increase of 42.6%. Specifically, Mengniu Group's liquid milk revenue was 76.514 billion yuan, a year-on-year increase of 12.9%; ice cream business revenue was 4.240 billion yuan, a year-on-year increase of 61%; milk powder business revenue was 4.949 billion yuan, a year-on-year increase of 8.2%; other revenue mainly from cheese business increased by 126.3% year-on-year.

4. Bright Dairy

2021 Net Profit of 592 Million Yuan, Down 2.55%

On March 28, Bright Dairy released its 2021 financial report, showing that the company's revenue last year was 29.206 billion yuan, a year-on-year increase of 15.59%; net profit attributable to shareholders of the listed company was 592 million yuan, a year-on-year decrease of 2.55%. During the reporting period, Bright Dairy's liquid milk achieved revenue of 17.101 billion yuan, a year-on-year increase of 19.85%; other dairy products revenue of 8.480 billion yuan, a year-on-year increase of 8.86%; animal husbandry products achieved revenue of 2.29 billion yuan, a year-on-year increase of 11.01%; other products revenue of 930 million yuan, a year-on-year increase of 3.43%.

5. Tingyi (Master Kong)

2021 Net Profit of 3.802 Billion Yuan, Down 6.39% Year-on-Year

On March 28, Tingyi Holding released its 2021 results. During the reporting period, Tingyi achieved operating revenue of approximately 74.082 billion yuan, a year-on-year increase of 9.56%; the company achieved net profit of 3.802 billion yuan, a year-on-year decrease of 6.39%. Among them, instant noodle revenue declined 3.60% year-on-year, and beverage revenue increased 20.18% year-on-year. In 2021, Tingyi's instant noodle revenue was 28.448 billion yuan, a year-on-year decrease of 3.60%, accounting for 38.40% of the group's total revenue, with a sales volume market share of 45.7%, ranking first in the market. During the reporting period, due to rising raw material prices and mix changes, the gross margin of instant noodles decreased by 4.94 percentage points year-on-year to 24.36%. Due to the year-on-year decline in revenue and the year-on-year increase in raw material prices, the profit attributable to shareholders of the company for the instant noodle business in 2021 decreased by 26.67% year-on-year to 2.004 billion yuan. In addition, the overall revenue of the beverage business for the full year was 44.802 billion yuan, a year-on-year increase of 20.18%, accounting for 60.48% of the group's total revenue. During the period, due to rising raw material prices and mix changes, the gross margin of beverages decreased by 2.11 percentage points year-on-year to 33.83%. Due to increased sales scale and a year-on-year decrease in the sales expense ratio, the profit attributable to shareholders of the company for the beverage business in 2021 increased by 15.27% year-on-year to 1.837 billion yuan.

6. Nongfu Spring

2021 Net Profit Exceeding 7.1 Billion Yuan, Up 35.7% Year-on-Year

On March 28, Nongfu Spring released its 2021 performance announcement. In 2021, Nongfu Spring's total revenue was 29.696 billion yuan, an increase of 29.8% year-on-year; profit attributable to owners of the parent company was 7.162 billion yuan, an increase of 35.7% year-on-year. It is worth noting that Nongfu Spring's operating cash flow in 2021 increased by 35.2% compared with 2020 to 11.4 billion yuan. The financial report showed that Nongfu Spring's packaged drinking water product revenue was 17.058 billion yuan, an increase of 22.1% over 2020, and the proportion of packaged drinking water product revenue to total revenue was 57.4%. Tea beverage product revenue for the full year was 4.579 billion yuan, an increase of 48.3% over 2020. Functional beverage product revenue for the full year was 3.695 billion yuan, an increase of 32.3% over 2020. Fruit juice beverage product revenue for the full year was 2.614 billion yuan, an increase of 32.2% over 2020. 7. Coca-Cola Mainland China Sales of 43.668 Billion Yuan, Soda Accounting for 73%! On March 29, China Foods released its 2021 financial report. During the reporting period, it achieved operating revenue of 19.784 billion yuan, a year-on-year increase of 14.7%; net profit of 572 million yuan, a year-on-year increase of 14.8%. Data showed that China Foods is authorized to operate Coca-Cola series products in a total of 19 provincial-level administrative regions, covering approximately 50% of the population in mainland China. Previously, Swire Coca-Cola, another bottler of Coca-Cola in the Chinese market, had released its results for last year, with mainland China business revenue of HK$28.774 billion, which, calculated at the average exchange rate for 2021 (1 HKD = 0.83004 RMB), is approximately RMB 23.884 billion. Adding the two together gives Coca-Cola's 2021 mainland China performance: 43.668 billion yuan. It is worth mentioning that among the two companies' main products, soda achieved double-digit growth. Swire Coca-Cola's soda revenue increased by 14%, estimated at approximately 16.8 billion yuan; China Foods' soda increased by 13%, with revenue exceeding 15 billion yuan. Coca-Cola's position as the "soda overlord" remains unshakable, with a single category contributing approximately 31.9 billion yuan in revenue in 2021! 8. Uni-President China 2021 Revenue of 25.23 Billion Yuan On March 8, Uni-President China released its financial report, showing revenue of 25.23 billion yuan, a year-on-year increase of 10.8%. Profit attributable to equity holders of the company was 1.5 billion yuan, a year-on-year decrease of 7.7%. Uni-President China stated that the year-on-year decline in attributable profit was mainly due to the combined impact of one-time gains in the same period last year and rising bulk raw material prices.

9. Yangyuan Zhi Hui

2021 Revenue of Approximately 6.9 Billion Yuan, Up 55.99% Year-on-Year

On March 10, Yangyuan Zhi Hui released its performance express report, showing that in 2021, the company achieved operating revenue of approximately 6.9 billion yuan, a year-on-year increase of 55.99%; net profit attributable to shareholders of the listed company of approximately 2.1 billion yuan, a year-on-year increase of 33.77%; net profit after deducting non-recurring gains and losses of approximately 1.76 billion yuan, a year-on-year increase of 59.9%. For the reason for the significant increase in revenue, Yangyuan Zhi Hui stated that it was due to the low base in the previous period caused by the COVID-19 pandemic and the Spring Festival advance factor in 2020.

10. Dongpeng Beverage

2021 Net Profit Increased 46.9% Year-on-Year

On the evening of February 15, Dongpeng Beverage released its 2021 annual performance express report, showing that in 2021, the company achieved total operating revenue of approximately 6.978 billion yuan, a year-on-year increase of 40.72%; net profit attributable to shareholders of the listed company of approximately 1.192 billion yuan, a year-on-year increase of 46.9%. Dongpeng Beverage stated that during the reporting period, the company continuously optimized its product structure and customer structure, actively strengthened the development of traditional channels nationwide, further improved the overall product distribution rate and coverage breadth; at the same time, the company actively built an "Energy+" product line to meet the needs of different scenarios and groups, continuously launched products to meet differentiated needs, broke through key groups, and through online and offline multi-dimensional promotion methods, continued to gain consumer trust and repurchase, and the company's sales scale and efficiency maintained rapid development.

11. Taoli Bread

Last Year's Revenue Exceeded 6 Billion Yuan, Net Profit Declined for the First Time Since Listing

On March 17, the company disclosed its 2021 annual report, with revenue increasing 6.24% year-on-year to 6.335 billion yuan; however, net profit attributable to the parent company decreased 13.54% year-on-year to 763 million yuan, marking the first decline since the company had public performance disclosures in 2013.

12. Yihai Kerry

Revenue Exceeded 200 Billion Yuan for the First Time, but Increased Revenue Without Increasing Profit

On the evening of February 22, Yihai Kerry, a leading domestic grain and oil enterprise, released its 2021 annual performance express report. The company expects to achieve operating revenue of 226.23 billion yuan, a year-on-year increase of 16.1%, breaking through the 200 billion yuan revenue mark for the first time; net profit of 4.132 billion yuan, a year-on-year decrease of 31.1%. It is worth noting that in the first three quarters, Yihai Kerry's net profit was 3.681 billion yuan, which means that in the fourth quarter, Yihai Kerry's net profit plummeted to 451 million yuan. For the increase in revenue and decline in profit, Yihai Kerry stated that it was mainly due to the significant increase in raw material costs in the kitchen food segment. Although the company raised prices of some products, it did not fully cover the increase in raw material costs, making production and operating costs higher than the same period last year. In the feed raw materials and oil technology segment, affected by rising market conditions, both revenue and profit grew. Data showed that from 2017 to 2020, Yihai Kerry's revenue was 150.766 billion yuan, 167.074 billion yuan, 170.743 billion yuan, and 194.922 billion yuan, respectively. 13. Haitian Flavoring 2021 Revenue Exceeded 25 Billion Yuan On March 25, Haitian Flavoring released its 2021 annual report, showing that the company achieved operating revenue of 25.004 billion yuan, a year-on-year increase of 9.71%, and net profit attributable to shareholders of the listed company of 6.671 billion yuan, a year-on-year increase of 4.18%. During the reporting period, the company's three core categories of soy sauce, oyster sauce, and sauce, as well as major markets nationwide, basically maintained stable development. Among them, soy sauce achieved revenue of 14.188 billion yuan, an increase of 8.78%; oyster sauce achieved revenue of 4.532 billion yuan, an increase of 10.18%; sauce achieved revenue of 2.666 billion yuan, an increase of 5.61%, with market share steadily increasing.

14. Yanjin Shop

2021 Net Profit of Approximately 150 Million Yuan, Down 37.89% Year-on-Year

On the evening of February 27, Yanjin Shop (002847) disclosed its 2021 performance express report, showing that during the reporting period, the company achieved operating revenue of approximately 2.282 billion yuan, a year-on-year increase of 16.47%; corresponding net profit attributable to the parent company of approximately 150 million yuan, a year-on-year decrease of 37.89%. Yanjin Shop stated that 2021 was the year of transformation and upgrading for the company. In the second quarter, due to the superposition of transformation costs and raw material price increases, short-term performance was affected, but the company responded timely and reasonably. After re-evaluation and optimization adjustments on July 8, the third and fourth quarters controlled and maintained reasonable cost investments, and simultaneously carried out structural optimization of sales products, sales channels, and sales regions, further highlighting the long-term value and core competitiveness of the complete supply chain of leisure food self-manufacturing enterprises. 15. Orion Revenue of 12.1 Billion Yuan, Up 5.8% Year-on-Year Recently, Orion, a well-known Korean food company, released its 2021 financial report, showing that the company's revenue was approximately 2,359.4 billion Korean won (approximately RMB 12.116 billion), a year-on-year increase of 5.8%; operating profit of 372.9 billion Korean won (approximately RMB 1.915 billion), a slight year-on-year decrease of 0.9%. Among them, Orion's performance in the Chinese market was also disclosed simultaneously: in 2021, revenue was RMB 6.25 billion, with puffed food business revenue of 2.62 billion yuan, pie business revenue of 2.3 billion yuan, biscuit business revenue of 900 million yuan, and gum + candy business combined revenue of 410 million yuan. 16. Milkground Net Profit of 154 Million Yuan, Advertising Expenses Exceeding 900 Million Yuan On March 24, Milkground released its 2021 annual report, stating that during the period, it achieved operating revenue of 4.478 billion yuan, a year-on-year increase of 57.31%, better than the market expectation of 4.3 billion yuan; net profit attributable to shareholders of the listed company was 154 million yuan, a year-on-year increase of 160.60%. It is worth noting that in 2021, Milkground's sales expenses increased by 63.08% year-on-year to 1.159 billion yuan, of which advertising and promotion expenses were 906 million yuan, a year-on-year increase of 61.5%. In September 2021, Milkground launched room-temperature cheese sticks, and the Spring Festival is the traditional peak season for the industry. The company's marketing expenses were front-loaded in the third and fourth quarters, dragging down full-year profit. As of December 31, 2021, there were 5,363 distributors, with a sales network covering approximately 600,000 retail terminals, covering more than 96% of prefecture-level cities and more than 85% of county-level cities nationwide.

17. Zhou Hei Ya

2021 Revenue of 2.870 Billion Yuan, Net Profit Increased 126.44%

On March 30, Zhou Hei Ya released its 2021 performance report. In 2021, Zhou Hei Ya achieved revenue of 2.870 billion yuan, a year-on-year increase of 31.56%; net profit of 342 million yuan, a year-on-year increase of 126.44%; basic earnings per share of 0.15 yuan. Zhou Hei Ya's main business is the sale of duck卤 products and other braised products. In 2021, duck and duck by-products achieved revenue of 2.415 billion yuan, accounting for 84.2% of the company's revenue; other products such as braised red meat and braised vegetables achieved revenue of 427 million yuan, accounting for 14.9% of the company's revenue. In 2021, Zhou Hei Ya's internet O&O business, i.e., online and self-operated delivery business, contributed revenue growth of approximately 23.5% year-on-year, and the revenue from internet O&O business accounted for approximately 32.0% of total revenue in 2021. As of December 31, 2021, Zhou Hei Ya had a total of 2,781 stores. Among them, 1,246 were self-operated stores and 1,535 were franchise stores, covering 267 cities in 26 provinces, autonomous regions, and municipalities directly under the central government.

18. Three Squirrels

Suspended Store Expansion, Q1 Net Profit Fell Nearly Half

According to the report, in 2021, Three Squirrels achieved revenue of 9.770 billion yuan, a year-on-year decrease of 0.24%, marking the second consecutive year of revenue decline; net profit attributable to the parent company was 411 million yuan, a year-on-year increase of 36.43%. In 2021, Three Squirrels' sales expenses, management expenses, and R&D expenses exceeded the same period in 2020. Among them, sales expenses were 2.072 billion yuan, a year-on-year increase of 21.01%. Three Squirrels stated that this was due to a significant increase in promotion fees and platform service fees; management expenses were 283.2 million yuan, a year-on-year increase of 28.10%, due to an increase in intermediary consulting fees and management expenses recognized from equity-settled share-based payments; R&D expenses were 57.54 million yuan, a year-on-year increase of 9.56%. The financial report showed that in 2021, Three Squirrels' new distribution achieved operating revenue of 1.609 billion yuan, an increase of 38.16% over the same period last year, accounting for 16.47% of total revenue.

19. Bestore

2021 Revenue of 9.324 Billion Yuan, Offline Store Count of 2,974, Market Value Plunged Nearly 70%

On March 21, Bestore released its 2021 financial report. The financial report showed that during the period, the company achieved revenue of 9.324 billion yuan, a year-on-year increase of 18.11%; Bestore's net profit attributable to the parent company was 282 million yuan, a year-on-year decrease of 18.06%. In the fourth quarter, Bestore's revenue was 2.755 billion yuan, with a net profit of -34 million yuan, the first quarterly loss. For the reasons for the decline in net profit, Bestore stated that in 2021, the company actively faced changes in the online operating environment, increases in some raw material prices, and the continuous impact of sporadic outbreaks. It proactively optimized and adjusted business strategies, further expanded market share in traditional platform e-commerce, increased layout in emerging traffic channels such as social (live streaming) e-commerce and community e-commerce, increased marketing and promotion expenses, and improved market share across all channels. At the same time, affected by factors such as the increase in the proportion of online channels, the gross margin of the online business in the fourth quarter declined short-term compared with the same period, leading to a decline in the company's net profit compared with the same period. Bestore's net operating cash flow was 412 million yuan, a year-on-year increase of 24.82%. The supply chain system deepened collaboration, and inventory turnover days decreased by 3.43 days. Bestore achieved balanced revenue growth across all channels, with online revenue increasing 21.42%. In terms of expanding emerging traffic channels online, Douyin platform revenue increased 3.62 times. Offline revenue increased 16.31%, with offline stores expanding to nearly 2,974. 20. Nayuki Revenue of Nearly 4.3 Billion Yuan, Up 40.5% Year-on-Year On the evening of March 29, Nayuki, the "first tea drink stock," released its 2021 performance announcement. The annual report showed that in 2021, Nayuki's total revenue was 4.296 billion yuan, an increase of 40.5% from 3.057 billion yuan in 2020. Among them, Nayuki's online order revenue accounted for as high as 71.8%. In terms of store count, as of December 31, 2021, Nayuki had a total of 817 stores, with 326 new stores added. The annual report showed that in 2022, Nayuki expects to open 350-400 new stores, which will exceed 1,000 stores.

21. Shanghai Jahwa

Full-Year Revenue Exceeded 7.6 Billion Yuan, Even Liushen Will Raise Prices

In 2021, Shanghai Jahwa's performance rebounded. Data showed that as of December 31, 2021, Shanghai Jahwa achieved full-year operating revenue of 7.646 billion yuan, a year-on-year increase of 8.73%, slightly higher than the pre-pandemic 2019; overall gross margin was 58.73%. At the same time, the company recorded net profit attributable to the parent company of 649 million yuan, a year-on-year increase of 50.92%, exceeding the 557 million yuan in 2019; net profit attributable to the parent company after deducting non-recurring gains and losses was 676 million yuan, a year-on-year increase of 70.76%. Affected by rising raw material prices, the company's deputy general manager, chief financial officer, and board secretary Han Min said that while peers are preparing for price increases, Shanghai Jahwa will also make price increase preparations based on consumer research results. "From the current perspective, some Liushen products have already begun to prepare for price increases in March." Footwear and Apparel

1. Cosmo Lady

2021 Revenue Increased 9.7%, Loss of 496 Million Yuan

On March 31, Cosmo Lady released its 2021 full-year financial report. The financial report showed that full-year 2021 revenue was 3.36 billion yuan, a year-on-year increase of 9.7%, and net profit was consistent with the company's previous profit warning announcement, with a loss of 496 million yuan. For the revenue growth, Cosmo Lady stated that in 2021, the company's offline sales totaled 2.41 billion yuan, a year-on-year increase of 5.7%; among them, focusing on promoting the direct-to-consumer sales model, retail revenue increased significantly by 54.7%. For the net profit loss, the company stated that there were four main reasons: first, the pandemic and macroeconomic fluctuations limited the recovery of the retail industry; second, raw material prices rose, for example, cotton increased 44% year-on-year; third, various expenses increased, including executive and consulting fees, incentive plan expenses, etc., but the effectiveness needs to be improved; fourth, inventory impairment and accounts receivable provisions.

2. Septwolves

2021 Revenue of 3.514 Billion Yuan, Karl Lagerfeld Turned Loss into Profit

On April 2, Fujian Septwolves released its 2021 annual performance announcement. During the reporting period, the company achieved total operating revenue of 3.514 billion yuan, an increase of 5.52% over the same period last year; net profit attributable to shareholders of the listed company was 231 million yuan, an increase of 10.65% over the same period last year; operating profit was 318 million yuan, an increase of 29.48% over the same period last year. By channel, online channels achieved operating revenue of approximately 1.435 billion yuan, a year-on-year decrease of 1.26%; offline channels achieved revenue of approximately 2.079 billion yuan, an increase of 10.77% over 2020. During the reporting period, the number of directly operated (including joint venture) stores was 897, and the number of franchise stores was 979. Among them, the total area of directly operated (including joint venture) stores was 104,805 square meters, with an average store efficiency of approximately 1.4 million yuan in 2021; among them, the average operating revenue of old directly operated stores increased by 1.83% year-on-year.

3. Daphne

2021 Turned Loss into Profit, Revenue Down 71% Year-on-Year

On April 13, Daphne released its 2021 financial report. According to the announcement, in 2021, the company achieved total revenue of HK$106 million, a year-on-year decrease of 71%; net profit of HK$52.7 million, compared with a loss of HK$242 million in the same period in 2020, turning from loss to profit. As of the end of the reporting period, Daphne had approximately 190 physical stores operated by franchisees and approximately 250 online stores.

4. Anta

2021 Revenue Increased 38.9% Year-on-Year, Narrowing Gap with Nike China

On March 22, Anta Sports Products Co., Ltd. released its 2021 full-year performance announcement. According to the announcement, in 2021, Anta achieved revenue of 49.33 billion yuan, a year-on-year increase of 38.9%, approaching the 50 billion yuan mark, maintaining growth for 8 consecutive years, with an average daily sales of 135 million yuan throughout the year. Operating profit increased 20.1% to 10.989 billion yuan, breaking through the 10 billion yuan mark for the first time; profit attributable to shareholders increased 49.6% to 7.72 billion yuan, both indicators reaching historical highs. In addition, free cash inflow increased 56.5% year-on-year to 10.37 billion yuan, and year-end cash reserves increased 4.2 billion yuan year-on-year to 24.58 billion yuan; the debt ratio decreased 6.8 percentage points year-on-year to 21%, continuously strengthening the ability to resist external uncertainties. Since revenue first exceeded 10 billion yuan in 2015, Anta has reached the 50 billion yuan mark in just six years, with a compound annual growth rate of 28.17%.

5. Li-Ning

2021 Net Profit of 4.01 Billion Yuan, Up 136% Year-on-Year

On March 18, Li-Ning disclosed its full-year results for the year ended December 31, 2021 on the Hong Kong Stock Exchange. In 2021, revenue reached 22.572 billion yuan, a year-on-year increase of 56%; net profit reached 4.011 billion yuan, a year-on-year increase of 136%; overall gross margin was 53.0%, an increase of 3.9 percentage points. Li Ning, Executive Chairman and Co-CEO of the group, said: "In 2021, the group continued to focus on Li-Ning-style experience value, actively strengthened product competitiveness, deepened brand image, consolidated brand professional reputation, and kept pace with the market, continuously exploring new trends. The group firmly believes that the sports industry has a bright future and huge development potential. As one of the leading enterprises in China's professional sports field, the group will follow the industry development trend, not fear challenges, and continuously seize new opportunities. With the strong support of national policies, the group will actively explore business opportunities and market potential, create a more professional, more unique, and more fashionable Li-Ning brand, and make everything possible!" 6. 361 Degrees Annual Revenue of 5.933 Billion Yuan, Up 15.73% Year-on-Year On March 23, 361 Degrees released its results for the year ended 2021, showing that the company's revenue was 5.933 billion yuan, a year-on-year increase of 15.73%; operating profit was 1.08 billion yuan, with an operating profit margin of 18.3%; profit attributable to shareholders was 602 million yuan, a year-on-year increase of 44.97%. By product category, the sales volume of the group's two core product lines (i.e., footwear and apparel) increased by 21.7% and 7.3% year-on-year, respectively. In the review year, over 95% of the 2021 spring/summer/autumn/winter products had been delivered and their respective sales revenue recognized, with the remaining 5% mainly being 2021 winter products, which were delivered in early 2022. As of December 31, 2021, the group had a total of 5,270 361 core brand stores, a net increase of 105 compared with December 31, 2020.

7. Xtep

2021 Net Profit of 908 Million Yuan, Up 77.1% Year-on-Year

On March 16, Xtep International announced its 2021 performance report. During the reporting period, the company achieved revenue of 10.013 billion yuan, a year-on-year increase of 22.5%; net profit attributable to the parent company was 908 million yuan, a year-on-year increase of 77.1%; gross margin increased from 39.1% in 2020 to 41.7% in 2021; operating profit was 1.396 billion yuan, a year-on-year increase of 52.1%. In addition, Xtep's e-commerce business grew significantly year-on-year, accounting for more than 30% of Xtep's main brand revenue in 2021. Ding Shuibo, Chairman and CEO of Xtep International, said: "2021 coincides with the 20th anniversary of Xtep's establishment. Over the past 20 years, Xtep has witnessed the ups and downs of China's sporting goods industry and has flourished into a world-renowned sporting goods company, achieving unprecedented results. Benefiting from the success of the 'Four-Five' plan from 2016 to 2020, the group has transformed from a domestic company into a mature global enterprise. In 2021, the company released a new 'Five-Five' plan, opening another milestone for our business. With impressive growth momentum, Xtep's main brand revenue target for 2025 is 20 billion yuan. With China's increasing health awareness driving the sports craze, coupled with national support for the sports industry, China's sporting goods industry is bound to have a bright and long-term development prospect. We are optimistic about the group's business development in 2022 and beyond." As of December 31, 2021, the company had a total of 6,151 Xtep brand stores at home and abroad, mainly operated by group-authorized distributors. Among them, Xtep Kids had 1,179 retail stores in mainland China. By 2025, the main brand revenue target is 20 billion yuan, and the new brand revenue target is 4 billion yuan.

8. Giordano

2021 Turned Loss into Profit, Net Profit of HK$190 Million

On March 10, Giordano International (hereinafter referred to as "Giordano") released its 2021 annual performance report. According to the announcement, in 2021, Giordano's sales increased 8.3% to HK$3.38 billion; net profit was HK$190 million, compared with a net loss of HK$112 million in 2020, turning from loss to profit. Giordano pointed out that the net profit in the second half of the year was HK$130 million, compared with HK$60 million in the first half, reflecting the results of relaxed social distancing, fewer discounts, and effective control of operating expenses. It is worth mentioning that Giordano's online sales surged 25.5%, accounting for 12.1% of total sales (2020: 10.5%). In addition, as of the end of 2021, Giordano had 2,056 stores globally.

9. Semir

2021 Net Profit Increased 84.39% Year-on-Year

On March 9, Semir released its 2021 annual performance express report. In 2021, operating revenue was approximately 15.419 billion yuan, a year-on-year increase of 1.41%; net profit attributable to shareholders of the listed company was approximately 1.486 billion yuan, a year-on-year increase of 84.39%; basic earnings per share were 0.55 yuan, an increase of 83.33% year-on-year. Regarding the slight increase in revenue but significant increase in net profit, Semir stated that it was mainly because in the same period last year, the company's operating performance was affected by the dual factors of the pandemic and the loss of the French KIDILIZ Group, resulting in a low base. From the financial data, if the loss of the French KIDILIZ Group in the same period last year is excluded, then for the full year of 2020, the company's net profit attributable to shareholders of the listed company was 1.302 billion yuan. On a comparable basis, the increase in this data in 2021 is expected to be 14.06%. 10. Annil Revenue of 1.186 Billion Yuan Annil's 2021 full-year report showed operating revenue of 1.186 billion yuan, a year-on-year decrease of 5.67%, net loss of 3.0295 million yuan, a year-on-year decrease of 93.53%, and basic earnings per share of -0.02 yuan. Among them, children's clothing industry revenue was 1.179 billion yuan, a year-on-year decrease of 6.10%, and other business revenue was 6.8669 million yuan, a year-on-year increase of 332.95%. 11. La Chapelle Net Loss of 823 Million Yuan On March 31, La Chapelle announced that in 2021, it achieved operating revenue of 430 million yuan, a year-on-year decrease of 76.4%; gross profit of 211 million yuan, a year-on-year decrease of 76.2%; net loss of 823 million yuan, compared with a net loss of 1.877 billion yuan in the same period last year; basic and diluted loss per share of 1.51 yuan.

12. Peacebird

Revenue Exceeded 10 Billion Yuan for the First Time, Net Profit Down 4.99%

On the evening of March 29, Peacebird released its 2021 annual performance report. According to the announcement, in 2021, Peacebird achieved operating revenue of approximately 10.921 billion yuan, an increase of 16.34% year-on-year, marking the first time Peacebird's operating revenue exceeded 10 billion yuan; net profit attributable to shareholders of the listed company was approximately 677 million yuan, a year-on-year decrease of 4.99%. Peacebird believes that the year-on-year decline in profit was mainly affected by the decline in retail performance in the fourth quarter and increased expenses. As of the end of the reporting period, Peacebird had a total of 5,214 stores. 13. Guirenniao Revenue of 1.42 Billion Yuan, Net Profit of 361 Million Yuan Recently, ST Guirenniao announced its 2021 annual report, showing operating revenue of 1.419 billion yuan, a year-on-year increase of 19.43%; net profit of 363 million yuan, of which net profit attributable to shareholders of the listed company was 361 million yuan, turning from loss to profit year-on-year. As of December 31, 2021, the number of Guirenniao brand retail terminals reached 1,532, with a total retail terminal area of 125,341.62 square meters. 14. Lilanz Revenue of 3.38 Billion Yuan, Store Count of 2,733 On March 18, China Lilanz announced its 2021 full-year results, with total revenue of approximately 3.38 billion yuan, a year-on-year increase of 26.1%; gross profit of 1.415 billion yuan, a year-on-year increase of 17.5%; net profit decreased 16.0% year-on-year to 468 million yuan. The financial report stated that the decrease in net profit was mainly due to the decision to stop developing professional sports shoes during the year and the plan to clear outdated inventory as soon as possible, resulting in a provision for product inventory of 122 million yuan. As of December 31, 2021, Lilanz's total retail stores decreased by 28 to 2,733, of which shopping mall stores increased to 852, accounting for approximately 31.2% of the total number of stores. In 2022, Lilanz will carefully plan its store network nationwide, with a net increase of 50 to 150 stores expected for the full year. 15. Saturday Net Profit of Approximately -704 Million Yuan, Down 2996.15% On April 8, Saturday released its 2021 annual report, showing operating revenue of approximately 2.814 billion yuan, an increase of 30.81% year-on-year; net profit attributable to shareholders of the listed company was a loss of approximately 704 million yuan, a sharp year-on-year decrease of 2996.15%. In the first quarter of 2022, net profit is expected to be 80 million to 120 million yuan, an increase of 752.71% to 1179.06% year-on-year. It is worth mentioning that in the previous performance forecast, Saturday expected a net loss attributable to shareholders of the listed company of 430 million to 645 million yuan for 2021, but the actual loss was far greater than the forecast loss. At the same time, the 2021 loss set a record for Saturday's largest loss since its listing in 2009. E-commerce

1. Youzan

2021 Loss of 3.293 Billion Yuan, Expanded 5 Times Year-on-Year

On March 29, China Youzan released its 2021 financial report. The financial report showed that Youzan's total revenue was 1.57 billion yuan, a year-on-year decrease of 13.74%; annual loss was approximately 3.293 billion yuan, an expansion of 503.5% year-on-year; among them, subscription solutions revenue was 970 million yuan, and merchant solutions revenue was 580 million yuan. Total gross profit was 950 million yuan, of which subscription solutions gross profit was 700 million yuan and merchant solutions gross profit was 250 million yuan. In 2021, the gross margin increased to 60.7%. In 2021, the GMV from merchant transactions was 98.3 billion yuan, of which non-Kuaishou GMV increased 30% year-on-year. During the reporting period, Youzan served a single merchant with an average annual sales amount reaching a new high, exceeding 1.1 million yuan, continuing to increase year-on-year. Youzan is continuously helping merchants create more value. The annual report showed that in 2021, Youzan signed more than 47,000 new merchants. In addition, the number of existing paying merchants for store SaaS products reached 29,645, more than doubling year-on-year. The GMV from store SaaS products more than doubled year-on-year, accounting for 28% of overall GMV. The new retail business is becoming a new engine for Youzan's growth.

2. Kuaishou

2021 Net Loss of 18.85 Billion Yuan, E-commerce Revenue Increased 78.4% Year-on-Year

On March 29, Kuaishou released its fourth quarter and full-year 2021 financial results. The financial report showed that for the full year of 2021, Kuaishou's total revenue was 81.1 billion yuan, a year-on-year increase of 37.9%, exceeding the previous Bloomberg market consensus estimate of 80.1 billion yuan; adjusted net loss for the full year was 18.85 billion yuan. Kuaishou's fourth quarter revenue was 24.4 billion yuan, a year-on-year increase of 35.0%, with an adjusted net loss of 3.57 billion yuan, compared with an estimated loss of 3.92 billion yuan. In terms of specific revenue composition, online marketing services (advertising business), live streaming, and other services (including e-commerce) contributed 52.6%, 38.2%, and 9.2% of total revenue, respectively. In the same period of 2020, total revenue was 58.8 billion yuan. Among them, online marketing services were Kuaishou's largest revenue source, with annual revenue of 42.7 billion yuan, a year-on-year increase of 95.2%, and its proportion of total revenue increased from 37.2% in 2020 to 52.6%. In the fourth quarter, this business revenue was 13.2 billion yuan, a year-on-year increase of 55.5%. Kuaishou's full-year e-commerce GMV reached 680 billion yuan, a year-on-year increase of 78.4%. In December 2021, the closed-loop e-commerce Kuaishou Store contributed 98.8% of the total e-commerce transaction amount. In the fourth quarter of 2021, the repeat purchase rate of the e-commerce business increased by more than five percentage points year-on-year.

3. Meituan

2021 Revenue Increased 56%, Net Loss of 15.57 Billion Yuan

On March 25, Meituan released its fourth quarter and full-year 2021 results. The financial report showed that Meituan's 2021 revenue was 179.1 billion yuan, a year-on-year increase of 56%; Meituan's 2021 adjusted loss was 15.57 billion yuan, compared with an adjusted profit of 3.12 billion yuan in the same period last year. By business, in 2021, Meituan's revenue from food delivery was 96.3 billion yuan, specifically, food delivery delivery service revenue was 54.2 billion yuan, commission revenue was 28.55 billion yuan, online marketing revenue was 11.4 billion yuan, and other services and sales revenue was 2.126 billion yuan. During the same period, Meituan's in-store, hotel, and travel business revenue increased 53.1% year-on-year to 32.5 billion yuan, of which commission revenue was 15.8 billion yuan and online marketing service revenue was 16.67 billion yuan; Meituan's 2021 operating profit for in-store, hotel, and travel was 14.093 billion yuan. Meituan's 2021 new business and other segments (mainly including Meituan Select, Meituan Flash Purchase, Meituan Grocery, etc.) revenue increased 84.4% year-on-year to 50.3 billion yuan, with operating loss expanding from 10.9 billion yuan in 2020 to 38.4 billion yuan. Data showed that in 2021, more than 5.27 million riders earned income through the Meituan platform, and the delivery cost for food delivery riders was approximately 68.2 billion yuan, an increase of 38.3% over the previous year, accounting for 71% of food delivery revenue.

4. JD.com

2021 Net Revenue of 951.6 Billion Yuan, Operating Profit of 13.4 Billion Yuan

On March 10, JD.com Group released its fourth quarter and full-year 2021 results. In the fourth quarter of 2021, JD.com Group's net revenue was 275.9 billion yuan (approximately $43.3 billion), a year-on-year increase of 23.0%; full-year 2021 net revenue reached 951.6 billion yuan (approximately $149.3 billion), a year-on-year increase of 27.6%. JD Logistics' full-year 2021 net revenue exceeded 100 billion yuan. In 2021, JD.com's user scale and quality continued to improve simultaneously. As of December 31, 2021, the number of active purchasing users in the past 12 months was approximately 570 million, with a net increase of nearly 100 million in one year, and 70% of new users came from lower-tier markets. 5. Pinduoduo Revenue Exceeded 93.9 Billion Yuan, Growth Slowed and Costs Reduced On March 21, Pinduoduo released its fourth quarter and full-year 2021 financial results. As of the end of 2021, Pinduoduo's annual active buyers reached 868.7 million, a year-on-year increase of 10%, with a single-quarter increase of approximately 1.4 million. In the fourth quarter, Pinduoduo's revenue was 27.2309 billion yuan, a year-on-year increase of 3%. Full-year revenue was 93.9499 billion yuan. Under generally accepted accounting principles, operating profit for the quarter was 6.907 billion yuan, mainly due to reduced marketing expenses and one-time expense offsets. The financial report showed that the platform's annual GMV and annual average consumption per active buyer (ARPU) both achieved growth. Among them, annual GMV reached 2.441 trillion yuan, a year-on-year increase of 46% from 1.6676 trillion yuan in the previous year; annual average consumption per active buyer was 2,810.0 yuan, a year-on-year increase of 33% from 2,115.2 yuan in the previous year. *The above data comes from the financial reports of various enterprises and does not constitute investment advice. Image source: Internet. Text source: Retail Information. Author: Yuan Sheng, Retail Information. Are you "watching" me?