Core Viewpoint - The apparel industry is facing significant challenges in 2024, with weak consumer demand and intense competition leading to squeezed profit margins. However, Urban Beauty has managed to achieve double-digit growth in both revenue and net profit, indicating a successful turnaround and effective strategies under the leadership of Chairman Zheng Yaonan [1][2]. Group 1: Financial Performance - Urban Beauty reported a revenue of 3.01 billion yuan in 2024, representing a year-on-year growth of 9.18%. The net profit reached 126 million yuan, showing a remarkable increase of 196.96% [2]. - The company has achieved three consecutive years of positive profitability, with accelerating growth rates [2][9]. Group 2: Product Innovation - Urban Beauty has focused on innovative product development, creating new offerings that meet core consumer needs such as comfort, style, and functionality, while maintaining a strong price-performance ratio [3][7]. - The launch of the soft size invisible underwear exemplifies this innovation, featuring advanced materials and design processes that enhance comfort and fit [3][5]. - The company has also introduced the Peach Cup underwear, which combines multiple advantages for women's health and aesthetics [5]. Group 3: Brand Strategy and Marketing - Urban Beauty is evolving its brand strategy by diversifying its brand portfolio and engaging in sports and entertainment marketing to strengthen its market position [11][15]. - The partnership with the Chinese national synchronized swimming team and endorsements from sports champions are part of a broader strategy to enhance brand visibility and consumer trust [11][12]. - The company has also signed popular celebrities to promote its products, creating a deeper emotional connection with consumers [15][17]. Group 4: Channel Expansion - Urban Beauty has opened over 850 new stores in 2024, bringing the total to over 4,500, focusing on major population centers to capture market share [19][21]. - The company is expanding its online presence, achieving over 100% growth in e-commerce GMV, particularly in the fast-growing instant retail segment [22]. - Urban Beauty's flexible ordering and rapid replenishment systems are designed to reduce inventory risks and enhance profitability for franchisees [22]. Group 5: Market Outlook - With consumer spending expected to rebound in 2025, Urban Beauty's strategic transformation is likely to yield better results, positioning the company favorably in the recovering market [23]. - The capital market is showing increasing interest in the consumer sector, with Urban Beauty's improved fundamentals suggesting strong mid-to-long-term growth potential [23].

Core Insights - Urban Beauty, known as "China's first lingerie stock," reported a revenue of 3.01 billion yuan for 2024, marking a year-on-year increase of 9.18% and a net profit of 126 million yuan, up 196.96% [2][4] Revenue Breakdown - The revenue growth was significantly driven by over 300 million yuan from the sale of properties, while the core business of intimate apparel saw a slight decline in sales [2][5] - The main business, intimate apparel, generated 2.555 billion yuan, a slight decrease from 2.643 billion yuan the previous year [4][5] - Non-core business revenues included 132 million yuan from logistics and 323 million yuan from industrial project sales [4] Store Expansion and Strategy - Urban Beauty opened 850 new stores in 2024, bringing the total to over 4,500, with plans to exceed 5,000 stores by the end of the year [2][8] - The company is focusing on a "strong county in major provinces" strategy, targeting six populous provinces for store openings [9][10] E-commerce and Market Share - The company reported that its e-commerce gross merchandise volume (GMV) exceeded 1.5 billion yuan, with a year-on-year growth of over 100% [5] - A shift in e-commerce strategy has occurred, moving from self-operated to partnerships with large merchants, which is expected to drive further growth [5] Operational Adjustments - Urban Beauty has adjusted its ordering system from a futures model to a spot model, allowing for better inventory management and increased profitability for franchisees [10] - The company aims to enhance store efficiency and ensure sustainable growth for franchisees, with a focus on improving the overall health of the franchise network [10]

Core Viewpoint - The company, Urban Beauty (02298), reported unexpectedly strong financial results amidst a challenging macroeconomic environment, showcasing its robust recovery in profitability and significant growth in e-commerce sales [1][2]. Financial Performance - In 2024, Urban Beauty achieved revenue of RMB 3.01 billion, a year-on-year increase of 9.18% [1] - The profit attributable to the company's owners reached RMB 126 million, reflecting a remarkable year-on-year growth of 196.96% [1]. E-commerce Growth - The company's e-commerce GMV surpassed RMB 1.5 billion, with a year-on-year growth exceeding 100% [1] - The innovative "joint venture e-commerce" model has effectively reduced channel costs and improved overall business gross margins [1]. Store Expansion Strategy - Urban Beauty opened 850 new stores, bringing the total to over 4,500, focusing on third and fourth-tier cities and county markets [2] - The company aims to enhance its market share in key provinces such as Henan, Shandong, and Sichuan through a "strong county" strategy [2]. International Expansion - The company is exploring cross-border e-commerce opportunities in Southeast Asia rather than opening physical stores abroad [3]. R&D and Product Innovation - Urban Beauty has accumulated 561 patents, focusing on innovative products like invisible bras and lightweight down jackets [3]. - The brand positions itself as "good yet affordable," integrating deeply with sports and entertainment sectors for enhanced brand recognition [3]. Marketing and Supply Chain Optimization - The company has optimized its supply chain management, introducing flexible ordering and rapid replenishment systems, leading to a 200% year-on-year increase in instant sales [4]. - Urban Beauty's marketing strategy includes extensive high-speed rail media coverage across over 29 provinces and 160 cities [4]. Future Revenue Streams - The industrial park project completed in 2024 is expected to contribute to revenue in 2025, enhancing profitability and cash flow [5]. Shareholder Returns - Urban Beauty has shown commitment to shareholder returns with a total dividend payout of HKD 11.24 million, maintaining a dividend payout ratio of approximately 30% since the pandemic [5].

Group 1 - The core viewpoint of the article highlights the significant growth in revenue and profit for the company, with a revenue of 3.01 billion yuan in 2024, representing a 9.18% increase year-on-year, and a net profit attributable to shareholders of 126 million yuan, up 196.96% [2] - The company's revenue growth is primarily attributed to the expansion of its e-commerce business, which has significantly improved its market share in China [2] - The company has made strides in brand building, product development, channel expansion, and supply chain management, contributing to overall performance improvement [2] Group 2 - The company reported that its e-commerce GMV exceeded 1.5 billion yuan, with a year-on-year growth of over 100% [2] - The company opened more than 850 new stores, bringing the total to over 4,500, with the number of pure cotton home brand stores exceeding 100 for the first time [2] - The company has accumulated 561 patents as of 2024, including products like soft size invisible underwear and black gold lightweight down clothing [2] Group 3 - The company optimized its supply chain management by introducing a flexible ordering system and rapid replenishment mechanism, effectively reducing inventory risk and improving cash flow turnover efficiency [3] - Instant sales for the company grew by over 200% year-on-year in 2024, addressing consumer demand for quick shopping [3] - The company plans to continue deepening its presence in the Chinese market, particularly in shopping centers and e-commerce channels, with expectations of doubling the number of pure cotton home brand stores and performance by the end of 2025 [3]

Core Viewpoint - Urban People, known as the "first stock in underwear," demonstrated strong market competitiveness and vitality by achieving impressive financial results in 2024 despite a challenging macroeconomic environment [1][3]. Financial Performance - In 2024, Urban People reported revenue of RMB 3.01 billion, representing a year-on-year growth of 9.18% [1]. - The company's profit attributable to shareholders reached RMB 126 million, a significant increase of 196.91% compared to the previous year [1]. - The total dividend payout for the year amounted to HKD 11.247 million, with a dividend per share of HKD 0.5, reflecting a dividend payout ratio of approximately 30% [1]. Operational Excellence - Urban People enhanced its online market share by strengthening partnerships with online affiliates, achieving an e-commerce GMV exceeding RMB 1.5 billion, which is over 100% growth year-on-year [3]. - The company opened more than 850 new stores, bringing the total to over 4,500, with the number of pure cotton home brand stores exceeding 100 for the first time [3]. - Urban People has maintained its position as the leading national underwear brand in terms of sales for seven consecutive years from 2017 to 2023 [3]. Product Innovation - The company has focused on its "good yet affordable" brand positioning, continuously launching new products that meet consumer needs, with a total of 561 patents as of 2024 [3]. - Notable products include the soft size invisible underwear and the black gold lightweight down clothing, which have gained widespread market recognition due to their unique design and technological advantages [3]. Brand Promotion - Urban People has actively integrated with sports and entertainment sectors, collaborating with the Chinese national synchronized swimming team and signing well-known celebrities as brand ambassadors [5]. - The company has utilized high-speed rail media to enhance brand recognition, covering over 29 provinces and more than 160 cities in China [5]. Supply Chain Management - Urban People optimized its supply chain management by introducing a flexible ordering system and rapid replenishment mechanisms, effectively reducing inventory risks and improving cash flow turnover efficiency [5]. - The company's instant retail business saw over 200% growth in 2024, catering to consumer demand for quick shopping experiences [5]. Future Outlook - Urban People plans to continue deepening its presence in the Chinese market, particularly in shopping centers and e-commerce channels, with expectations of doubling the number of pure cotton home brand stores and performance by the end of 2025 [5].

智通财经APP讯，都市丽人(02298)发布截至2024年12月31日止年度业绩，收入30.1亿元(人民币，下 同)，同比增加9.18%;股东应占溢利1.26亿元，同比增加196.96%;每股基本盈利5.8分;拟派发末期股息每 股0.5港仙。 线下街铺渠道仍然是都市丽人的主要优势渠道。2024年，在复杂的市场环境下，集团的店铺实现了逆势 净增长，进一步巩固了在线下渠道的优势。 此外，集团通过"纯棉居物"品牌实现了在购物中心渠道的突破。纯棉居物定位于中高端市场，致力于为 消费者提供"纯棉、健康、舒适"的产品，打造一站式的家庭购物体验，形成与主品牌都市丽人的差异化 定位。凭借精致的产品和良好的购物体验，纯棉居物获得了消费者的广泛认可，2024年业绩较2023年同 比增长约50%。同时，凭借优异的业绩和盈利能力，纯棉居物赢得了众多加盟客户的青睐，开店意愿积 极。预计到2025年，纯棉居物有望实现店铺数量和业绩的翻倍增长，成为集团业绩增长的强劲动力。 于2024年，与截至2023年12月31日止年度相比，集团的毛利率维持稳定于约45.7%(2023年：47.5%)，其 中与截至2023年12月31日止年度相比，贴身衣 ...

Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of RMB 3,010,130, an increase of 9.2% from RMB 2,757,081 in 2023[2] - The profit attributable to the owners of the company rose significantly to RMB 126,157, compared to RMB 42,483 in the previous year, marking a growth of 196.5%[2] - Basic earnings per share increased to RMB 5.8 from RMB 1.9, reflecting a growth of 205.3%[5] - The gross profit for the year was RMB 1,375,667, up from RMB 1,308,659, indicating a growth of 5.1%[4] - Operating profit surged to RMB 188,966, compared to RMB 66,605 in 2023, representing an increase of 184.5%[4] - The total comprehensive income for the year was RMB 113,763, a significant rise from RMB 34,501 in the previous year, showing an increase of 229.5%[4] - The adjusted profit before tax for the year 2024 was RMB 168,303 thousand, significantly higher than RMB 48,002 thousand in 2023, marking an increase of over 250%[23] - The company's profit attributable to shareholders for the year ended December 31, 2024, was approximately RMB 126.16 million, a significant increase of about 197% compared to approximately RMB 42.48 million for the year ended December 31, 2023[38] Assets and Liabilities - The company's total assets decreased to RMB 3,696,808 from RMB 3,815,517, a decline of 3.1%[6] - Total equity increased to RMB 2,021,363 thousand in 2024 from RMB 1,928,439 thousand in 2023, reflecting a growth of approximately 4.8%[8] - Total liabilities decreased to RMB 1,675,445 thousand in 2024 from RMB 1,887,078 thousand in 2023, representing a reduction of about 11.2%[8] - Current liabilities decreased to RMB 1,465,386 thousand in 2024 from RMB 1,481,477 thousand in 2023, showing a decline of approximately 1.1%[8] - Non-current liabilities also decreased to RMB 210,059 thousand in 2024 from RMB 405,601 thousand in 2023, a decrease of about 48.3%[8] - The total accounts receivable increased to RMB 401,417,000 in 2024 from RMB 330,202,000 in 2023, showing a growth of approximately 21.5%[34] - The net accounts receivable, after deducting impairment losses, was RMB 385,245,000 in 2024, compared to RMB 320,681,000 in 2023, representing a growth of about 20.1%[34] - Accounts payable as of December 31, 2024, totaled RMB 404.11 million, compared to RMB 296.82 million in 2023, indicating a significant increase in liabilities[37] Cash Flow and Financial Management - Cash and cash equivalents rose to RMB 537,764, compared to RMB 506,157, marking an increase of 6.3%[6] - The company reported a decrease in financial expenses, with bank loan interest expenses reduced to RMB 15,062 thousand in 2024 from RMB 24,662 thousand in 2023, a decline of approximately 38.7%[23] - The company's income tax expense for the year ended December 31, 2024, was RMB 52,946,000, compared to RMB 7,316,000 in 2023, indicating a significant increase[25] - The income tax expense increased to approximately RMB 52,946,000 for the year ended December 31, 2024, compared to RMB 7,316,000 in 2023, primarily due to sales and profits from industrial projects generating a land value-added tax expense of about RMB 33,704,000[56] - The company’s deferred tax liabilities decreased from RMB 27,854,000 in 2023 to RMB 12,677,000 in 2024, indicating improved tax management[25] Business Operations and Strategy - The company plans to continue allocating additional resources to its logistics services and industrial project development, reaffirming these as key business areas[10] - The company has reclassified its operational segments to focus on the design, marketing, and sales of fitted clothing products, as well as industrial projects and logistics services[16] - The company successfully expanded its e-commerce business in China, achieving a GMV of approximately RMB 1.1 billion from related e-commerce platforms[51] - The logistics revenue increased to RMB 132,481 thousand in 2024, compared to RMB 114,121 thousand in 2023, representing a growth of approximately 16.1%[22] - The company maintained a focus on long-term strategies, emphasizing brand building and operational efficiency in response to economic cycles[38] - The company plans to continue optimizing and innovating its business operations while focusing on creating value for shareholders and improving product quality for consumers[45] Market Performance and Brand Development - The total merchandise transaction value (GMV) for the e-commerce segment exceeded RMB 1.5 billion for the year ended December 31, 2024, representing a year-on-year growth of over 100% compared to the year ended December 31, 2023[44] - The "Pure Cotton Home Goods" brand achieved approximately 50% year-on-year growth in performance for 2024, with expectations for store count and performance to double by 2025[43] - The company launched a series of brand activities around the "National Underwear" positioning, significantly enhancing brand value and consumer recognition[39] - The "Soft Size Underwear" product line was well-received, characterized by comfort and innovative technology, contributing to strong consumer acceptance[41] - The company successfully executed a large-scale marketing campaign around the Paris Olympics, enhancing brand visibility on global landmarks[40] Employee and Governance - The group had approximately 2,200 full-time employees as of December 31, 2024, down from 2,600 in 2023, with compensation linked to individual performance and overall business results[62] - The company has adopted the Corporate Governance Code as per the Listing Rules, except for Rule C.2.1 regarding the separation of roles between the Chairman and CEO[70] - The Audit Committee consists of four independent non-executive directors, ensuring effective oversight of financial reporting and internal controls[71] - The company's auditor, Ernst & Young, confirmed that the financial statements for the year ending December 31, 2024, are consistent with the approved draft[72] Environmental and Social Responsibility - The group has committed to environmental sustainability through compliance with regulations and operational practices, as outlined in its environmental, social, and governance report[63]

近日，"内衣第一股"都市丽人发布正面盈利预告。都市丽人预计2024年公司拥有人应占利润较2023年的4248.3万元增加约180%。 财报显示，都市丽人2024财年业绩增长主要得益于电商联营、成本控制以及产业项目的发展。其中，电商板块取得了突破性增长，2024年，与都市丽人合作 的联营商在电子商务平台上成交的产品交易总额（GMV）约11亿元。 2024年上半年，都市丽人实现营收15.14亿元，同比增长10.74%；实现净利润8239.8万元，相较上年同期的2613万元，同比增长215%。从收入结构来看，都 市丽人主营业务贴身衣物产品实现收入12.95亿元，占公司上半年总收入的85.5%；物流收入0.47亿元，产业项目物业销售收入1.72亿元。 内衣业务是都市丽人的主营业务。数据显示，都市丽人今年上半年贴身衣物销售收入约为12.95亿元，与去年同期的13.19亿元相比轻微下滑。都市丽人方面 称，主要是由于电商板块收入下滑导致。今年上半年，都市丽人电子商务的业务战略发生改变，减低部分低效率自运营电商平台，导致相关电子商务收入同 比下降9.2%至2.267亿元。 为了应对市场竞争，都市丽人近年来正加速数字化转型，积 ...

都市丽人古力娜扎同款新品京东服饰独家首发 内 衣、家居服等爆款满100减50 也能保持清爽透气，感受无拘无束的轻盈自在；兰精莫代尔家居服，在柔软性、透气性和环保性上全面 升级，触感细腻，穿着轻盈透气，打造满分舒适度，马卡龙色系的设计甜美元气，无论是居家还是外 穿，都能轻松拿捏"睡衣外穿"的超绝松弛感。 想要颜值与舒适兼得？京东服饰携手都市丽人还带来更多适配各种胸型的内衣好物！娜扎同款无肩 带防滑隐形无痕文胸，自然挺立，穿衣有型，百变肩带可以在街头风、辣妹风之间随意切换；人鱼杯软 支撑聚拢文胸，完美还原S曲线，贴身穿着无痕无感，穿薄T紧身衣不再尴尬；大胸显小的内衣就选择 大胸专利软提拉内衣，轻薄杯型视觉上显薄显瘦，PRO级动态支撑，日常跑跳稳定不晃；蜜桃杯聚拢升 杯文胸，内含精粹山茶花精华级养肤，加宽底围承托力好，舒适不勒胸；无尘棉女士家居服套装， 100%新疆棉柔软亲肤，宽松廓形，享受无拘无束的居家时光。 3月26日，内衣品牌都市丽人古力娜扎同款弹弹衣文胸、兰精莫代尔家居服套装在京东服饰独家首 发，并联合京东超级星粉日共同开启活动。同时，当天晚7点，京东服饰还将携手都市丽人，在深圳内 衣展同步首发直播，带来更 ...

一新篇章也让这场国民级的双向选择在网络上掀起热潮与都市丽人同行从不是配角而是贡献中国品牌神话的直笔人当纽约摩登古巷里流淌着东方肌理的温润 当伦敦太吾寺和尚敲动着中国制造的智慧当澀谷十字路口对东方的暖誉宫国美学对世界的宣礼嗨 哪吒嗨 都市丽人都市丽人 国民内衣全球内衣的中国大案 主任总裁郑永南先生自新董事兼首席秘书官险春祥先生副总裁首席财务官提出蔡维生先生 在接下来的会议将分为两部分首先会由葛贵华理财人回顾我们的有情况及介绍的未来发展策略第二部分就是论坛环节现在先由秦政总统总结2024年业绩主点好 谢谢我们线上和线下的各位投资人和媒体朋友大家下午好 欢迎各位来到中世纪未来的电子跑步会那我先简单的介绍一下2024年全面财务的一些重要的一些方面第一点的话呢是我们在2024年我们整个的收入是人民币30.1亿那比2023年增长了百分之九个亿电商的基金会资本盘的话也是人民币15.7亿比2023年增长了百分之一百零八 本公司拥有横滨币,应当利润是横滨币等级261,比2023年增长197。 在今年我们刚刚过去的这个峰会中我们决定每一股的泰息将是0.5仙这个从疫情之后恢复泰息的一个关键的一个点那我们这个2024年我们主要做的事 ...