Financial Performance - For the year ended December 31, 2024, revenue decreased by 0.4% to RMB 1,442,291,000 compared to RMB 1,448,376,000 in 2023[16] - Gross profit declined by 2.4% to RMB 978,205,000, resulting in a gross profit margin of 67.8%, down from 69.2%[16] - Loss before tax increased significantly by 195.8% to RMB 155,665,000, compared to a loss of RMB 52,625,000 in the previous year[16] - The loss for the year escalated by 228.6% to RMB 165,849,000, compared to RMB 50,475,000 in 2023[16] - Earnings attributable to owners of the Company turned into a loss of RMB 176,621,000, a drastic change from a profit of RMB 7,429,000 in the prior year, representing a 2,477.5% decline[16] - Adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) rose by 287.9% to RMB 121,397,000, compared to RMB 31,295,000 in the previous year[16] - Adjusted non-HKFRS earnings for the year increased by 77.9% to RMB 75,230,000, up from RMB 42,289,000[16] Revenue and Sales Metrics - In 2024, Youzan achieved a gross merchandise volume of approximately RMB102.8 billion, with an average sales per merchant of approximately RMB1,840,000, representing a year-on-year increase of about 14%[21] - Youzan's revenue for 2024 was approximately RMB1.44 billion, with a year-on-year increase of over 4% in the second half of the year, and adjusted EBITDA of approximately RMB121 million, reflecting a year-on-year increase of approximately 288%[27] - The revenue renewal rate for the target customer group increased to 68%, with the new retail target customer group achieving a renewal rate of 86%[24] - Revenue from Subscription Solutions decreased by 6.9% year-on-year to approximately RMB780,638,000, primarily due to a decrease in the number of paying merchants[82] - Revenue from Merchant Solutions increased by 8.6% year-on-year to approximately RMB658,215,000, mainly driven by growth in logistic solutions[84] Asset and Equity Growth - The company reported a net current assets increase of 59.1%, rising from RMB222,928,000 in 2023 to RMB354,575,000 in 2024[18] - Youzan's total assets grew by 9.6% from RMB5,395,014,000 in 2023 to RMB5,911,211,000 in 2024[18] - The total equity attributable to owners increased by 5.5%, from RMB1,021,330,000 in 2023 to RMB1,077,159,000 in 2024[18] Operational Efficiency and Cost Management - Selling expenses decreased by 15% year-on-year, and the selling expense ratio decreased to 39%[66] - Staff costs decreased by 15.9% year-on-year to approximately RMB100,291,000, attributed to a reduction in headcount[92] - Administrative expenses decreased by 11.0% year-on-year to approximately RMB137,864,000 in 2024, compared to RMB154,949,000 in 2023, primarily due to reduced legal and professional fees related to the acquisition of approximately 48.10% equity in Youzan Technology[103][106] - The Group recorded a 15.3% year-on-year decrease in selling expenses to approximately RMB556,423,000, down from RMB657,038,000 in 2023[102][106] Technology and Innovation - Youzan has integrated intelligent technologies to help merchants increase transaction volumes and reduce operational costs[36] - The company aims for "Jarvis Intelligence" to help merchants double their existing team's productivity by 2025, completing over 1 million intelligent tasks daily[39][41] - In 2024, the company integrated DeepSeek for multi-channel food delivery product association and marketing plan generation, enhancing its intelligent capabilities[40] - The company plans to achieve business growth while maintaining a steady increase in profit margins and increasing the "silicon content" in all business processes to build an intelligent organization[46] Merchant Engagement and Community Building - The company has held nearly 200 offline meetings in 2024, with an average of over 200 merchants participating in each meeting, fostering extensive ecological cooperation[34] - Nearly 70% of active merchants are chain store merchants, indicating a strong market presence in various retail sectors[29] - The company aims to help merchants improve customer retention and operational efficiency through its Youzan Beauty solutions, targeting the beauty and health care sectors[57] Financial Position and Liquidity - The cash balance at the end of 2024 was approximately RMB889 million[66] - As of December 31, 2024, the Group's borrowings amounted to approximately RMB 338,725,000, down from RMB 470,444,000 in 2023[152] - The Group's gearing ratio as of December 31, 2024, was 5.7%, a decrease from 8.7% as of December 31, 2023, primarily due to increased balances with the central bank and reduced interest-bearing borrowings[154] Share Options and Employee Incentives - The Share Option Scheme 2019 was adopted on June 12, 2019, and terminated on June 29, 2023, but the validity of outstanding share options remains unaffected[184] - The Company approved a new Share Option Scheme 2023 at the 2023 annual general meeting, with no share options granted, exercised, lapsed, or cancelled under this scheme during the year ended December 31, 2024[192] - The Share Award Scheme, adopted on May 31, 2018, aims to recognize contributions by eligible persons and provide incentives for retention and attraction of suitable personnel[194] - The total number of shares granted across various awards reflects the company's commitment to employee retention and performance[199]

Financial Performance - The company reported a significant increase in revenue for the fiscal year ending December 31, 2024, with a total revenue of HKD 1.2 billion, representing a 25% year-over-year growth[17]. - For the year ended December 31, 2024, Youzan reported revenue of approximately RMB 1.44 billion, a slight decrease of 0.4% compared to RMB 1.45 billion in 2023[18]. - The company experienced a significant loss before tax of RMB 155.7 million, compared to a loss of RMB 52.6 million in 2023, marking an increase in loss of 195.8%[18]. - Adjusted EBITDA for 2024 was approximately RMB 121.4 million, representing a year-on-year increase of 287.9% from RMB 31.3 million in 2023[18]. - The total loss for the year was RMB 165,849,000, compared to a loss of RMB 50,475,000 in the previous year, highlighting a worsening financial position[136]. Profitability and Margins - Gross profit for 2024 was RMB 978.2 million, down 2.4% from RMB 1 billion in 2023, resulting in a gross profit margin of 67.8%, a decrease of 1.4 percentage points[18]. - The gross profit margin improved to 45%, up from 40% in the previous year, indicating better cost management[17]. - The gross profit margin decreased from 69.2% in 2023 to 67.8% in 2024, primarily due to a decrease in the gross profit margin of subscription solutions[107]. User and Market Growth - User data showed a growth in active users, reaching 5 million, which is a 30% increase compared to the previous year[17]. - The revenue renewal rate for the target customer group increased to 68%, with the new retail target customer group achieving a renewal rate of 86%[26]. - Youzan aims to fully embrace AI and develop an "intelligent consumer operation system" to enhance profit growth and achieve sustained profitability starting in 2025[28][30]. Strategic Initiatives - The company is focusing on market expansion in Southeast Asia, targeting a 15% market share within the next two years[17]. - The company is exploring potential mergers and acquisitions to enhance its market position and expand its service offerings[17]. - Youzan's business objective for 2025 includes becoming a key infrastructure for omni-channel sales in Chinese retail, focusing on technological innovation to create value for merchants and shareholders[48][50]. Research and Development - Research and development expenses increased by 10% to HKD 150 million, reflecting the company's commitment to innovation[17]. - Youzan completed over 700 updates to its product features, focusing on enhancing consumer experience and marketing efficiency[61]. - The company is focused on developing new technologies and products to meet evolving market demands[159]. Cost Management - Selling expenses decreased by 15% year-on-year, with the selling expense ratio dropping to 39%[74]. - Administrative expenses decreased by 11% year-on-year, with the administrative expense ratio falling to 10%[74]. - Research and development costs decreased by 6% year-on-year, with the research and development cost ratio reduced to 12%[74]. Cash Flow and Assets - The net operating cash inflow for 2024 was approximately RMB 68 million, with a cash balance of approximately RMB 889 million at the end of the year[74]. - Current assets increased by 15.7% to RMB 4.5 billion in 2024, while total assets rose by 9.6% to RMB 5.91 billion[20]. - As of December 31, 2024, the Group's cash and cash equivalents were approximately RMB 888,821,000, a decrease from RMB 926,265,000 in 2023[173]. Organizational Structure and Governance - The management team includes experienced professionals with backgrounds in finance and human resources, enhancing operational efficiency[155][159]. - The board of directors includes members with over 28 years of experience in various sectors of the financial industry, providing strategic insights[147][151]. - The company emphasizes talent development and organizational operations to improve overall performance[144]. Market Position and Competition - Nearly 70% of active merchants are chain store merchants, indicating a strong market presence in various retail sectors[31]. - The Group's five largest suppliers accounted for approximately 56.7% of total purchases in 2024, up from 49.2% in 2023[165]. - The company provides a wide range of SaaS solutions, including Youzan WeiMall, Youzan Store, and Youzan Beauty, to support merchants' digital operations[52][53].

Revenue and Profitability - Revenue for the six months ended June 30, 2024, was RMB 686.3 million, a decrease of 5.2% compared to the same period last year[2] - Subscription solution revenue decreased by 10.6% to RMB 377.5 million, while merchant solution revenue increased by 2.2% to RMB 306.6 million[2] - Gross profit decreased by 6.4% to RMB 469.1 million, with subscription solution gross profit down 14.2% to RMB 295.6 million and merchant solution gross profit up to RMB 173.6 million[2] - Gross margin decreased from 69.2% to 68.4%, with subscription solution margin dropping from 81.5% to 78.3% and merchant solution margin increasing from 52.1% to 56.2%[3] - Operating profit for the period was RMB 2.6 million, a significant improvement from an operating loss of RMB 11.3 million in the same period last year[3] - Net loss for the period was RMB 4.3 million, compared to a net loss of RMB 18.4 million in the same period last year[5] - Total comprehensive loss for the period was RMB 7.1 million, an improvement from RMB 12.8 million in the same period last year[9] - Total revenue for the first half of 2024 was RMB 686,329 thousand, a decrease from RMB 724,294 thousand in the same period of 2023[20][24] - Revenue from subscription solutions decreased to RMB 377,489 thousand in 2024 from RMB 422,266 thousand in 2023[24] - Revenue from merchant solutions increased slightly to RMB 306,639 thousand in 2024 from RMB 300,029 thousand in 2023[24] - Other revenue remained relatively stable at RMB 2,201 thousand in 2024 compared to RMB 1,999 thousand in 2023[24] - The company reported a pre-tax loss of RMB 6,764 thousand for the first half of 2024[20] - Total investment and other income decreased to RMB 19.636 million in the first half of 2024, down from RMB 30.429 million in the same period of 2023[27] - The company's total revenue for the first half of 2024 was approximately RMB 686.329 million, a decrease of 5.2% compared to the same period in 2023[54] - Subscription solution revenue decreased by 10.6% to RMB 377.489 million, primarily due to a reduction in the number of paying merchants[56] - Merchant solution revenue increased by 2.2% to RMB 306.639 million, consistent with the growth rate of GMV[56] - Other business revenue increased by 10.1% to RMB 2.201 million[56] - Gross profit decreased by 6.4% to RMB 469,149 thousand, with gross margin dropping from 69.2% to 68.4%, mainly due to a decline in subscription solution gross profit[59] - Subscription solution gross profit decreased by 14.2% to RMB 295,593 thousand, with gross margin dropping from 81.5% to 78.3%[60] - Merchant solution gross profit increased by 10.1% to RMB 172,258 thousand, with gross margin rising from 52.1% to 56.2% due to optimized cost structure[61] - Adjusted EBITDA increased significantly to RMB 51,219 thousand from RMB 6,321 thousand in the previous year[63] - Adjusted non-HKFRS profit rose to RMB 57,017 thousand from RMB 22,515 thousand in the previous year[64] Cash Flow and Financial Position - Cash and cash equivalents totaled RMB 839.5 million as of June 30, 2024, with a current ratio of 1.07[3] - Net cash used in operating activities was RMB 68,244 thousand for the six months ended June 30, 2024, compared to RMB 7,317 thousand for the same period in 2023[15] - Net cash used in financing activities was RMB 13,082 thousand for the six months ended June 30, 2024, down from RMB 43,487 thousand for the same period in 2023[15] - Cash and cash equivalents decreased by RMB 82,467 thousand for the six months ended June 30, 2024, compared to a decrease of RMB 51,244 thousand for the same period in 2023[15] - Cash and cash equivalents stood at RMB 839,499 thousand as of June 30, 2024, down from RMB 924,998 thousand at the end of 2023[65] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 5.76 billion, with current assets of RMB 4.29 billion and non-current assets of RMB 1.47 billion[10] - Total current liabilities increased to RMB 4,017,118 thousand as of June 30, 2024, compared to RMB 3,664,103 thousand as of December 31, 2023[11] - Contract liabilities decreased to RMB 571,046 thousand as of June 30, 2024, from RMB 585,578 thousand as of December 31, 2023[11] - Net current assets stood at RMB 1,743,277 thousand as of June 30, 2024, slightly up from RMB 1,730,911 thousand as of December 31, 2023[11] - Total non-current liabilities decreased to RMB 719,756 thousand as of June 30, 2024, from RMB 722,021 thousand as of December 31, 2023[11] - Net assets increased to RMB 1,023,521 thousand as of June 30, 2024, compared to RMB 1,008,890 thousand as of December 31, 2023[11] - The company's equity attributable to owners of the parent was RMB 1,023,032 thousand as of June 30, 2024, up from RMB 1,021,330 thousand as of December 31, 2023[11] - The company's total equity increased to RMB 1,023,521 thousand as of June 30, 2024, from RMB 1,008,890 thousand as of December 31, 2023[11] - The company's total assets increased to RMB 4,759,842 thousand as of June 30, 2024, from RMB 4,417,029 thousand as of December 31, 2023[21] - Total liabilities increased to RMB 4,440,831 thousand as of June 30, 2024, from RMB 4,059,388 thousand as of December 31, 2023[23] - The company's asset-to-liability ratio decreased to 8.1% from 8.7% at the end of 2023, primarily due to an increase in total assets[65] Business Performance and Strategy - The total GMV generated by merchants through the company's solutions reached approximately RMB 49.9 billion, a year-on-year increase of 2%[53] - Store SaaS business GMV was approximately RMB 25 billion, accounting for 50% of the total GMV, with a year-on-year growth of 7%[53] - The average sales per merchant in the first half of 2024 was approximately RMB 840,000, a year-on-year increase of 25%[53] - As of June 30, 2024, the company had 59,541 paying merchants, with 66% subscribing to e-commerce SaaS and 34% subscribing to store SaaS[53] - The company added 9,116 new paying merchants in the first half of 2024, with 62% subscribing to e-commerce SaaS and 38% subscribing to store SaaS[53] - Business strategy: The company has evolved from providing "digital software" for small and medium-sized merchants to offering "intelligent consumer operation systems" for brand retailers, covering the entire business process from public to private domains and final sales conversion[51] Expenses and Costs - Research and development expenses decreased to RMB 93.828 million in the first half of 2024, compared to RMB 105.840 million in the same period of 2023[28] - Intangible assets amortization remained stable at RMB 40.467 million in the first half of 2024, slightly down from RMB 40.563 million in 2023[29] - Total sales cost decreased by 2.6% to RMB 217,180 thousand, primarily due to a 12.4% reduction in labor costs to RMB 52,510 thousand and a 10.3% decrease in transaction costs to RMB 77,146 thousand[58] - Sales and distribution expenses decreased by 19.7% to RMB 265,763 thousand, mainly due to reduced sales personnel costs and channel commission expenses[62] Taxation and Dividends - The company's effective tax rate in Hong Kong remained at 16.5% for both 2024 and 2023[30] - Two subsidiaries of the company maintained a preferential income tax rate of 15% due to their high-tech enterprise status[31] - The company did not recommend an interim dividend for the first half of 2024, consistent with the same period in 2023[32] - No dividend was recommended for the six months ended June 30, 2024, consistent with the previous year[65] Shareholder and Equity Information - The company's basic loss per share was RMB 17.224 million in the first half of 2024, compared to a profit of RMB 18.114 million in the same period of 2023[34] - Zhu Ning, the company's director, holds a 22.54% equity interest in the company through various entities[69] - Cui Yusong, another director, holds a 2.25% equity interest in the company[69] - Whitecrow Investment Ltd., a company wholly owned by Zhu Ning, holds a 17.42% equity interest in the company[72] - The company's major shareholders include Whitecrow Investment Ltd., Double Peace Limited, and Tricor Equity Trustee Limited, each holding a 17.42% equity interest[72] - Other significant shareholders include Qima Teamwork Inc. (5.78%) and Tembusu HZ II Limited (5.21%)[72] Share Options and Rewards - The company terminated its 2019 Share Option Plan on June 29, 2023, but existing options remain valid and exercisable under the plan's terms[73] - The total number of shares available for issuance under the 2019 Share Option Plan as of June 30, 2024, is 254,852,000 shares, representing 0.77% of the total issued shares (excluding treasury shares)[75] - The weighted average closing price of shares immediately before the vesting date of share options during the six months ended June 30, 2024, was HKD 0.089 per share[75] - The Seventh Reward granted on January 15, 2023, includes 2,195,488 reward shares fully vested on January 14, 2024, and 3,132,000 reward shares divided into three batches, with 50% vesting after one year of continuous service[78] - The Eighth Reward granted on April 1, 2023, includes 2,747,800 reward shares fully vested on March 31, 2024, and 12,131,000 reward shares divided into four batches, with 20% vesting after one year of continuous service[78] - The Ninth Reward granted on July 1, 2023, is divided into four batches, with 25% vesting after one year of continuous service[78] - The weighted average closing price of reward shares immediately before the vesting date during the six months ended June 30, 2024, was HKD 0.08 per share[79] - No share rewards were granted during the six months ended June 30, 2024, under the Share Reward Plan[79] - The number of share rewards available for grant under the Share Reward Plan was zero as of both January 1, 2024, and June 30, 2024[79] - The 2023 Share Option Plan was adopted on June 29, 2023, and no options were granted, exercised, canceled, or lapsed under this plan as of June 30, 2024[76] - The number of options available for grant or issuance under the 2023 Share Option Plan was zero as of both January 1, 2024, and June 30, 2024[76] - The company completed the acquisition of approximately 48.10% equity in Youzan Technology Group on December 29, 2023, resulting in the conversion of Plan A incentive shares into 1,906,330,379 shares[81] - Plan A incentive shares totaling 272,771,297 were granted during the period, with a fair value of HK$0.077 per share as of June 30, 2024[82] - The weighted average closing price of Plan A incentive shares before the vesting date was HK$0.08 during the six months ended June 30, 2024[83] - The number of shares available for grant under Plan A was 1,906,330,379 as of January 1, 2024, and 1,633,559,082 as of June 30, 2024[83] Corporate Governance and Compliance - The company deviated from the Code Provision C.2.1 of the Corporate Governance Code by appointing Mr. Zhu Ning as both Chairman and CEO since February 19, 2021[85] - The Audit Committee reviewed the unaudited condensed interim results for the six months ended June 30, 2024, and found them in compliance with applicable accounting standards and GEM Listing Rules[85] Related Party Transactions - Outstanding balances with related parties: As of June 30, 2024, the receivables from related companies were RMB 55k (Company A), RMB 18k (Company B), and RMB 518k (Company C), compared to RMB 187k (Company B) and RMB 151k (Company C) as of December 31, 2023[41] - Payables to related parties: As of June 30, 2024, the payables to related companies were RMB 377k (Company A and C), compared to RMB 127k as of December 31, 2023[42] - Total compensation for key management personnel: RMB 8,122k for the six months ended June 30, 2024, compared to RMB 8,979k for the same period in 2023[43] Financial Instruments and Fair Value - Fair value of financial instruments: The fair value of financial assets measured at fair value through profit or loss was RMB 282,494k, and through other comprehensive income was RMB 66,367k as of June 30, 2024[45] Contingent Liabilities and Penalties - The company had no significant contingent liabilities as of June 30, 2024[39] - Administrative penalty: A subsidiary, Beijing Gaohuitong Commercial Management Co., Ltd., was fined RMB 27,874k for违规开展相关支付业务, expected to negatively impact the company's net profit for the year ending December 31, 2024[50] Employee Information - The company's employee count as of June 30, 2024, was 1,582[53] - The company employs approximately 1,582 employees as of June 30, 2024, a decrease from 1,750 employees as of December 31, 2023[66] Investments and Acquisitions - The company has no significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures during the six months ended June 30, 2024[67] - The company has no specific plans for significant investments or capital asset purchases as of June 30, 2024[67] - The company did not purchase, sell, or redeem any listed securities during the six months ended June 30, 2024[83] Accounts Receivable and Payable - Accounts receivable within 3 months decreased to RMB 13.200 million as of June 30, 2024, down from RMB 21.549 million as of December 31, 2023[36] - Total accounts payable increased significantly to RMB 7.873 million as of June 30, 2024, up from RMB 2.571 million as of December 31, 2023[37] Geographic Revenue Distribution - The majority of revenue came from Mainland China, contributing RMB 682,692 thousand in 2024[25] - Revenue from Japan and North America was minimal, contributing RMB 210 thousand and RMB 3,427 thousand respectively in 2024[25]

Stock Options - As of January 1, 2023, the number of stock options available for grant under the 2019 Stock Option Plan was 1,682,580,761 shares[3] - As of December 31, 2023, there were no stock options available for grant under the new stock option plan[3] - The total number of shares available for issuance under the 2019 Stock Option Plan was 255,052,000 shares, representing 0.77% of the total issued shares[3] - The stock options granted do not have performance targets attached[3] - The closing price of the company's shares immediately prior to the grant of stock options was HKD 0.250[3] - The offer to grant stock options will remain open for acceptance for 28 days from the date of the offer, with a nominal price of HKD 1[3] Board's Perspective - The board believes that granting stock options without additional performance targets aligns the interests of the grantees with those of the company and its shareholders[3] - The company aims to incentivize and retain grantees to contribute to the group's performance and sustainable development[3] Compliance and Accuracy - The announcement is in compliance with GEM listing rules and aims to provide information about the company[4] - The board confirms that the information provided is accurate and complete, with no misleading or fraudulent elements[4]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 1 （於百慕達註冊成立之有限公司） （股份代號：8083） 截至二零二四年六月三十日止六個月之中期業績公告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所主板上市 的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審 慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受 較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 本公告乃遵照聯交所GEM證券上市規則（「 GEM上市規則」）而刊載，旨在提供有關中國有贊 有限公司（「本公司」，連同其附屬公司統稱「本集團」、「有贊」或「我們」）的資料；本公司的董事 （「董事」）願就本公告的資料共同及個別地承擔全部責任。各董事在作出一切合理查詢後，確 認就其所知及所信，本公告所載資料 ...

不自然大家中午好啊啊非常荣幸我们今天请到了这个中国友单这边的侯总来给我们做一个啊关于这个公司的一个近况的一个更新然后这个中国有开放这个啊一些提问然后也是非常难得有机会能和公司这边进行一个一对一的这个交流那啊首先我们先邀请侯总来先做一个分享来有请嗯 好的非常感谢王老师的介绍也非常感谢有机会能参加这个活动跟线上的投资人朋友们分享介绍一下友赞近期的一些情况主要我是来自中国友赞投资者关系团队的Selina然后如果大家后续对友赞有任何问题都欢迎 接下来呢我会花一点时间跟大家汇报一下友赞在这几年的一个业务的情况 然后财务数据的一个情况然后整体的数字抓手就是我们在2023年年度业绩为抓手向大家汇报因为我们也是按今年开始我们是不再发一季报三季报我们是按照半年报和年报的形式对外进行数据的披露所以我们会在预计应该是在8月份的时候发我们今年半年度的一个业绩那目前我跟大家介绍的是我们整个2023年度年度数据的一个情况 如果大家对这个PPT有兴趣的话也可以到我们中国友谈的官网投资者关系频道这个页面找到我们历次业绩的这个PPT我们都挂在我们的官网上也欢迎大家去下载查阅 那先花几分钟的时间跟线上的这个投资人朋友们介绍一下友在啊不知道大家6 ...

好的非常感谢王老师的介绍也非常感谢这个 有机会能参加这个活动跟线上的投资人朋友们分享介绍一下友站近期的一些情况主要我是来自中国友站投资者关系团队的Selina然后如果大家后续对友站有任何问题都欢迎和我们券商 也可以直接跟公司联系那我们公司这个投资者团队的邮箱我也放在了这页介绍上面大家可以通过这个邮件联系到我们进行跟公司的一个交流那接下来呢我会花一点时间跟大家汇报一下 这几年的一个业务的情况然后财务数据的一个情况然后整体的数字抓手就是我们在2023年年度业绩为抓手向大家汇报因为我们也是按今年开始我们是不再发一级报三级报我们是按照半年报和年报的形式对外进行数据的披露所以我们会在预计应该是在八月份的时候发我们今年半年度的一个业绩 跟大家介绍的是我们整个2023年度年度数据的一个情况我翻一下如果大家对这个PPT有兴趣的话也可以到我们中国友赞的官网投机者关系频道这个页面找到我们历次业绩的这个PPT我们都挂在我们的官网上也欢迎大家去下载查阅 那先花几分钟的时间跟线上的这个投资人朋友们介绍一下柳瞻不知道大家618马上就要来了哈不知道大家有没有在微信生态内去下去下单订购消费这样子的一个经历那如果大家在微信里面无论是小程序的方 ...

Financial Performance - Revenue for 2023 was RMB 1,448,376, a decrease of 3.2% compared to RMB 1,496,977 in 2022[13]. - Gross profit margin improved to 69.2% in 2023 from 64.3% in 2022, an increase of 4.9 percentage points[13]. - Loss before tax significantly reduced to RMB (52,625) in 2023 from RMB (658,407) in 2022, a decrease of 92.0%[13]. - Loss attributable to owners of the Company decreased to RMB (50,475) in 2023 from RMB (645,398) in 2022, a reduction of 92.2%[13]. - Adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) improved to RMB 7,429 in 2023 from RMB (302,727) in 2022, a change of 102.5%[13]. - Adjusted non-HKFRS earnings for the year were RMB 35,517 in 2023, compared to RMB (339,537) in 2022, reflecting a change of 110.5%[13]. - The Group recorded a loss from operations of RMB 21,323,000 in 2023, significantly improved from a loss of RMB 558,304,000 in 2022[76]. - The adjusted earnings before interest, tax, depreciation, and amortization improved to RMB 35,517,000 in 2023 from a loss of RMB 339,537,000 in 2022[76]. - The Group's total loss for the year was RMB 50,475,000 in 2023, a significant reduction from a loss of RMB 645,398,000 in 2022[77]. Assets and Liabilities - Current assets decreased by 21.5% to RMB 3,887,031, while total assets fell by 17.8% to RMB 5,395,014[14]. - The total liabilities decreased by 20.5% to RMB 4,386,124, while equity attributable to owners of the Company fell by 27.7% to RMB 1,021,330[14]. - As of December 31, 2023, the Group's cash and cash equivalents were approximately RMB 926,265,000, an increase from RMB 889,944,000 in 2022[102]. - The Group's borrowings as of December 31, 2023, were approximately RMB 470,444,000, down from RMB 480,986,000 in 2022[102]. - The gearing ratio as of December 31, 2023, was 8.7%, compared to 7.3% as of December 31, 2022, primarily due to a decrease in balances with the central bank[102]. Operational Efficiency - The average annual transaction volume per merchant increased by 33%, with medium-to-large merchants showing the most significant growth[17]. - The average renewal fee for the core customer group rose by 21%, particularly a 25% increase in the new retail business segment[17]. - Net cash inflow from operations was RMB 76,998,000, indicating strong operational performance despite market challenges[24]. - The company maintained high service efficiency while acquiring more medium-and large-sized offline customers, despite a wave of store closures among small and micro customers[24]. - The vibrancy rate of new customers across various segments improved, indicating positive renewal leading indicators for future revenue growth[18]. - In 2023, Youzan achieved an adjusted operating profit of RMB 35,517 thousand and a net operating cash inflow of RMB 76,998 thousand, maintaining high efficiency in sales and service despite challenges in the market[26]. Strategic Focus and Future Outlook - The Company is focusing on new product development and market expansion strategies to drive future growth[12]. - The management anticipates continued improvement in financial performance and operational efficiency in the upcoming year[12]. - The Company is exploring potential mergers and acquisitions to enhance its market position and capabilities[12]. - Future guidance indicates a commitment to achieving profitability and sustainable growth in the long term[12]. - Youzan aims to be among the first batch of profitable medium-sized enterprise service companies in China, achieving its business objectives for 2023[22]. - The company aims to exceed a manpower efficiency of 1 million per capita in 2024 through marketing innovation and better utilization of AI tools[32]. Product and Service Development - Youzan's new value positioning focuses on helping merchants with public domain content marketing, private domain operations, and intelligent solutions for sales transformation, marking the most significant upgrade in a decade[27][30]. - The retail industry in China has shifted from a traffic era to a customer operation era, with Youzan providing a comprehensive "intelligent consumer operation" system[28]. - The company plans to enhance its offerings from "digital software" for small and medium-sized merchants to "intelligent consumer operating systems" for brand retailers starting in 2024[31]. - Youzan's AI assistant (Copilot) and automation tools (Agent) are designed to improve operational efficiency and generate targeted business strategy suggestions for merchants[29]. - The company recognizes the growing need for digitalization, automation, and intelligence among enterprises, positioning itself as a key provider of these services[33]. Cost Management - Selling expenses decreased by 20.9% year-on-year, with the selling expense rate dropping to 45.4%[49][51]. - Administrative expenses went down by 47.1% year-on-year, with the administrative expense rate decreasing to 10.7%[49][51]. - The Group's cost of sales decreased by 16.6% to approximately RMB 446,231,000 in 2023 from RMB 535,055,000 in 2022, mainly due to a 15.8% reduction in transaction costs[68]. - Staff costs decreased by 24.2% to approximately RMB 119,312,000 in 2023, down from RMB 157,399,000 in 2022, due to organizational restructuring[68]. Leadership and Governance - Mr. Yu Tao has been appointed as the executive Director and CFO since May 2018, with a background in accounting and experience in financial planning and management[88]. - Ms. Ying Hangyan has served as the executive Director and chief service officer since May 2018, focusing on client services and organizational operations[88]. - The company has a strong leadership team with diverse backgrounds in finance, management, and client services, enhancing its operational capabilities[88][89][90][91]. - The management team has experience in both local and international markets, which is crucial for strategic decision-making and market expansion[88][89]. - The Board comprises seven Directors, including four executive Directors and three independent non-executive Directors, complying with GEM Listing Rules[195]. Shareholder Information - The Directors did not recommend the payment of any dividend for 2023, consistent with 2022[102]. - As of December 31, 2023, Mr. Zhu Ning holds a total interest of 7,433,532,082 shares, representing 22.54% of the company's shareholding[164]. - The total interests of directors and executives reflect a significant ownership concentration within the company[164]. - The company has a structured approach to reporting interests and positions in accordance with the Securities and Futures Ordinance[165]. Compliance and Regulations - The company has complied with the Corporate Governance Code during the year ended December 31, 2023, except for a deviation from code provision C.2.1[182]. - The Company has established five committees to assist the Board, including Audit, Risk, Nomination, Remuneration, and Inside Information Committees[192]. - The auditor issued an unqualified letter regarding the Group's continuing connected transactions, confirming compliance with relevant regulations[144].

Financial Performance - The company reported a full-year performance for the year ending December 31, 2023, in compliance with the GEM Listing Rules[1]. - Revenue for 2023 was RMB 1,448,376, a decrease of 3.2% compared to RMB 1,496,977 in 2022[11]. - Gross profit increased by 4.2% to RMB 1,002,145, with a gross profit margin of 69.2%, up from 64.3% in the previous year[11]. - Adjusted profit before interest, tax, depreciation, and amortisation was RMB 35,517, a significant improvement from a loss of RMB 339,537 in 2022[11]. - Total assets decreased by 17.8% to RMB 5,395,014, while total liabilities also fell by 20.5% to RMB 4,386,124[12]. - The Group recorded a total loss for the year of RMB 50,475,000 in 2023, compared to a loss of RMB 645,398,000 in 2022[73]. - The Group's loss from operations improved to RMB 21,323,000 in 2023, significantly better than the loss of RMB 558,304,000 in 2022[72]. Corporate Governance - The board of directors confirmed that the information contained in the report is accurate and complete in all material respects[6]. - The company has established various committees, including an audit committee and a risk committee, to enhance corporate governance[9]. - The company is committed to transparency and has made all reasonable inquiries to ensure the accuracy of the report[6]. - The Company has complied with the Corporate Governance Code during the year ended December 31, 2023, except for a deviation from code provision C.2.1[193]. - The Board is responsible for overseeing management's efforts to promote the Company's success while operating effectively and responsibly[195]. Leadership and Management - Mr. Yu Tao has been appointed as the Chief Financial Officer and Executive Director since May 2018, with a background in accounting and experience in financial planning and management[83]. - The company has a strong leadership team with diverse expertise in finance, management, and client services, enhancing its operational capabilities[83][84][85][86]. - The management team has been with the company since 2018, indicating stability and continuity in leadership during critical growth phases[83]. - The independent non-executive directors bring valuable insights from their extensive backgrounds in finance and investment, contributing to strategic decision-making[84][86]. Operational Efficiency - Net cash inflow from operations was RMB 76,998, indicating strong operational efficiency[20]. - The company achieved a consolidated manpower efficiency of approximately 800,000, reflecting improved management efficiency without cost increases[20]. - The company plans to enhance sales efficiency and internal operational efficiency, aiming to exceed a per capita efficiency of 1 million through marketing innovation and better utilization of AI tools[28]. - Youzan's operational indicators focus on balancing transaction volume, active customers, income, and profit as part of its disciplined management approach[22]. Market Position and Strategy - The company aims to be among the first profitable medium-sized enterprise service companies in China, achieving its business objectives for 2023[19]. - Youzan's new value positioning includes providing an "intelligent consumer operation system" to help merchants improve customer repurchase rates and profitability, alongside offering solutions for store digitization and multi-channel data management[23][26]. - The retail industry in China is transitioning from a traffic era to a customer operation era, with Youzan focusing on comprehensive "intelligent consumer operation" services[24]. - Youzan aims to grow from providing digital software to small and medium-sized merchants to offering intelligent consumer operating systems to brand retailers, covering the entire operational process[27]. Financial Resources and Investments - For the year ended December 31, 2023, the Group's cash and cash equivalents were approximately RMB 926,265,000, an increase from RMB 889,944,000 in 2022[97]. - The Group's financial resources and liquidity position remain stable, with significant cash reserves as of year-end 2023[97]. - The Group had no outstanding convertible bonds or warrants as of December 31, 2023[106][107]. - The Group had no significant investments or specific plans for material investments or capital assets[103]. Share Options and Awards - The Share Option Scheme 2019 was terminated on June 29, 2023, but outstanding share options remain valid[108]. - The new Share Option Scheme was adopted at the 2023 Annual General Meeting, with no options granted, exercised, lapsed, or cancelled under this scheme as of December 31, 2023[113]. - The total outstanding options under the 2019 Share Option Scheme as of December 31, 2023, was 255,052,000[113]. - The Share Award Scheme, adopted on May 31, 2018, is valid for 10 years unless terminated early by the Board[115]. Customer and Supplier Relations - Revenue attributable to the Group's five largest customers was less than 5% for both 2023 and 2022, indicating a diversified customer base[93]. - The five largest suppliers accounted for approximately 49.2% of total purchases in 2023, down from 52.2% in 2022, with the largest supplier accounting for approximately 26.4% of total purchases[93]. Acquisitions and Corporate Actions - The Company conditionally agreed to acquire approximately 48.10% of Youzan Technology Inc. for a total consideration of HK$2,618,999,998.02, satisfied by issuing 14,549,999,989 Shares to the sellers[99]. - The completion of the acquisition of Youzan Technology took place on December 29, 2023[100]. - The Company issued 14,549,999,989 Consideration Shares at an issue price of HK$0.18 per Share for an acquisition on December 29, 2023[127]. Research and Development - Youzan Technology Group plans to spend approximately RMB620 million on research and development to widen its product range and enhance infrastructure[132]. - The marketing plan for Youzan Technology Group includes an estimated spending of RMB260 million, primarily for online advertising and engaging more distribution agents[132].

Share Incentive Plan - A total of 310,801,640 shares were granted under the incentive plan for the year ended December 31, 2022[11]. - The fair value of the shares granted on April 1, 2022, and December 1, 2022, was HKD 0.157 and HKD 0.184 per share, respectively[10]. - As of December 31, 2022, the number of unvested shares available for grant was 139,734,843 shares, representing 0.89% of the total issued shares[11]. - The weighted average closing price of the shares prior to the vesting date was HKD 0.17 for the year ended December 31, 2022[10]. - The total number of shares available for issuance under the plan as of the annual report date was 163,581,243 shares[11]. - The first grant under the incentive plan was divided into three tranches, with 50% vesting after two years of continuous service[5]. - The second grant was divided into four tranches, with 25% vesting after each year of continuous service[6]. - The total number of shares granted in the second grant was 12,614,800, with 5,057,800 and 7,557,000 shares forfeited[7]. - The fourth grant had a total of 30,545,100 shares, with 7,800,500 and 8,978,600 shares forfeited[8]. - The plan does not impose any performance targets for the granted shares[10]. Plan A Details - The total number of shares available for issuance under Plan A is 106,428,391 shares as of January 1, 2022, and December 31, 2022[17]. - There is no set cap on the benefits that can be granted to each eligible participant under Plan A[17]. - The plan is effective for a period of 10 years from May 31, 2018, to May 30, 2028, with approximately 5 years and 2 months remaining as of the 2022 annual report date[4]. - No shares have been granted under Plan A since its adoption date[19]. - There is no purchase price applicable for the shares under Plan A[19]. - Eligible participants include any employee of the Youzan Technology Group, including directors and senior management[16]. - There is no specified vesting period for the share rewards granted under Plan A[18]. - No payment is required from selected participants upon acceptance of the reward shares[18]. Announcement and Confirmation - The announcement provides supplementary information that does not affect other disclosures in the 2022 annual report[20]. - The board of directors confirms the accuracy and completeness of the information provided in the announcement[20].