Marubi(SH:603983)2024-08-23 08:31Financial Performance - The company's operating revenue for the first half of 2024 reached RMB 1,352,290,860.56, representing a 27.65% increase compared to RMB 1,059,406,128.00 in the same period last year[14]. - The net profit attributable to shareholders of the listed company was RMB 176,537,086.78, up 35.09% from RMB 130,684,328.11 in the previous year[14]. - The net profit after deducting non-recurring gains and losses was RMB 166,331,306.85, reflecting a 40.21% increase from RMB 118,627,794.04 year-on-year[14]. - The basic earnings per share for the reporting period was RMB 0.44, a 33.33% increase from RMB 0.33 in the same period last year[15]. - The weighted average return on net assets increased to 5.19%, up from 4.04% in the previous year, an increase of 1.15 percentage points[15]. - The overall gross margin improved to 74.68%, an increase of 4.55 percentage points compared to the previous year[20]. - The company achieved a revenue of 1.352 billion RMB in the first half of 2024, representing a year-on-year increase of 27.65%[20]. - The net profit attributable to shareholders was 177 million RMB, a year-on-year increase of 35.09%[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 166 million RMB, up 40.21% year-on-year[20]. Cash Flow and Assets - The net cash flow from operating activities was RMB 58,582,996.50, a decrease of 24.32% compared to RMB 77,410,939.49 in the same period last year[14]. - The total assets at the end of the reporting period were RMB 4,313,142,403.50, down 3.16% from RMB 4,453,746,770.48 at the end of the previous year[14]. - The net assets attributable to shareholders of the listed company decreased by 0.96% to RMB 3,315,134,804.07 from RMB 3,347,129,838.58 at the end of the previous year[14]. - The company's cash and cash equivalents at the end of the reporting period amounted to ¥1,121,728,940.78, accounting for 26.01% of total assets[29]. - The company's cash balance at the end of the period was CNY 1,077,011,712.92, an increase from CNY 1,038,904,408.95 at the beginning of the period[166]. Expenses and Investments - Sales expenses rose to 717 million RMB, a year-on-year increase of 39.7%, driven by intensified online competition and higher traffic costs[20]. - R&D expenses amounted to 35.846 million RMB, up 23.62% year-on-year, due to increased investment in research and development[20]. - The company is actively investing in the "smart cosmetics manufacturing plant" and "marketing upgrade and operation headquarters" projects[32]. - The marketing upgrade and operation headquarters project has a planned investment of 42,278.12 million RMB, with 35,320.60 million RMB invested, achieving an investment progress of 83.54%[66]. - The company has committed to investing 200 million yuan in research and development for new technologies aimed at improving product efficacy[60]. Market and Competition - The company maintained a strategic focus on brand core values and user-centric product development amidst rising market competition[20]. - The company faces intensified market competition due to the rapid growth of e-commerce and increasing foreign brand presence[36]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[60]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance the company's distribution network and increase market penetration[60]. Risk Management - The company has outlined potential risks in its report, advising investors to be cautious regarding future plans and strategies[4]. - The company is at risk of not meeting strategic execution expectations despite efforts in multi-brand and multi-channel development[37]. - The company has implemented measures to retain talent but still faces risks of talent loss in a highly competitive industry[38]. Shareholder and Governance - The company did not distribute profits or increase capital reserves during the interim period, focusing on business development needs[3]. - The company has committed to a share lock-up period of 36 months starting from July 25, 2019, with an additional two years for share transfer restrictions after the lock-up period ends[47]. - The company will initiate stock buybacks if the stock price stabilization measures are triggered, with a maximum repurchase amount based on the latest audited net asset value per share[51]. - The company has established measures to freeze the income of actual controllers and executives if they fail to comply with stock price stabilization obligations[52]. - The company reported a commitment to fulfill all public commitments made during the initial public offering, accepting social supervision[55]. Compliance and Reporting - The company’s financial statements comply with the requirements of the enterprise accounting standards, reflecting its financial position accurately[104]. - The company has established a robust framework for managing related party transactions to avoid conflicts of interest and ensure fair dealings[62]. - There were no significant legal disputes or regulatory penalties reported during the period, reflecting the company's commitment to ethical practices[61]. Inventory and Receivables - The total inventory at the end of the period is CNY 185,234,537.60, with a decrease in inventory impairment provision to CNY 7,831,533.83[183]. - The accounts receivable at the end of the period amounted to ¥80,217,167.86, an increase from ¥28,763,528.92 at the beginning of the period, reflecting a significant growth[169]. - The bad debt provision at the end of the period was ¥1,659,164.14, with a provision ratio of 2.07%[170]. - The total balance of prepayments at the end of the period is CNY 43,156,158.12, an increase from CNY 24,721,206.06 at the beginning of the period, representing a growth of 74.25%[175]. Construction and Development - The total budget for key construction projects is CNY 1,006,864,200, with a current balance of CNY 431,581,727.73, representing 53.91% of the budget utilized[197]. - The construction of the cosmetics intelligent manufacturing plant has seen an increase of CNY 9,892,477.36 this period, with a total investment of CNY 9,892,477.36, achieving 63.32% of the budget[197]. - The marketing upgrade and operational headquarters construction project has a book balance of CNY 421,689,250.37 at the end of the period, up from CNY 307,053,225.30 at the beginning[196].