Financial Performance - Total revenue for the six months ended June 30, 2024, was approximately RMB 32.86 billion, a decrease of 24.3% compared to RMB 43.38 billion in the same period of 2023[2] - The trading business segment generated revenue of RMB 32.39 billion, accounting for 98.6% of total revenue, down 24.7% year-on-year[2] - The company reported a net profit attributable to shareholders of RMB 125.09 million, a decline of 49.0% from RMB 245.13 million in the previous year[2] - Revenue from the self-operated business decreased by 24.7% to RMB 32,385 million for the six months ending June 30, 2024, compared to RMB 42,988 million for the same period in 2023[14] - Revenue from the consumer electronics segment fell by 15.5% to RMB 19,528 million, while the home appliance segment saw a decline of 34.2% to RMB 4,314 million[14] - The agricultural production materials segment's revenue dropped by 38.7% to RMB 4,140 million, influenced by a complex international economic environment[14] - Net profit for the six months ended June 30, 2024, was RMB 229.3 million, a decline of 40.1% compared to RMB 383.0 million in the same period last year[26] - Basic earnings per share for the six months ended June 30, 2024, was RMB 0.23, compared to RMB 0.44 in 2023, representing a decline of approximately 47.7%[36] Membership and Customer Engagement - The total number of registered retail store members increased to 246,287, representing a growth of 13.2% year-on-year[3] - Active retail store members reached 92,493, up 19.3% from 77,514 in the same period last year[3] - Cumulative SaaS+ subscription users exceeded 127,000, up 5.1% year-on-year, with paid SaaS+ users nearing 48,000, an increase of 28.8%[8] - The group hosted 6 national promotional events in the first half of 2024, covering personalized activities across 27,000 stores[8] Operational Efficiency and Cost Management - The company achieved a gross margin of 3.5%, an increase of 0.5 percentage points compared to the same period last year[4] - The group's cost of revenue decreased by 24.6% to RMB 31,713.5 million, while gross profit fell by 11.7% to RMB 1,142.2 million, primarily due to a decline in revenue[18] - Sales and marketing expenses decreased by 8.0% to RMB 572,554 thousand, representing 1.4% of revenue, indicating improved organizational efficiency[19] - Administrative and other operating expenses fell by 7.2% to RMB 160,052 thousand, mainly due to cost reduction measures[20] - Research and development costs decreased by 15.8% to RMB 38.6 million, as the group improved its R&D efficiency[22] Strategic Initiatives and Future Plans - The company is actively expanding into new industries and high-margin product categories, including home cleaning and personal care products[7] - The company aims to enhance supply chain capabilities and focus on high-margin categories, particularly in the home appliance and personal care sectors[31] - The integration of production and sales processes is expected to improve operational efficiency and product quality through data-driven market insights[32] - The company plans to expand its B2B digital service platform and enhance its SaaS offerings for small and medium enterprises[34] - The group plans to deepen its strategic transformation and industry upgrade in the second half of 2024, focusing on enhancing operational capabilities and risk management[30] Shareholder and Corporate Governance - The company was included in the MSCI Global Small Cap Index, attracting more global investor attention and diversifying its shareholder structure[11] - The company has adopted corporate governance codes to enhance shareholder rights and corporate accountability[80] - The company has complied with the corporate governance code throughout the reporting period[80] - The interim financial report for the six months ending June 30, 2024, was reviewed by KPMG according to the relevant standards[83] Assets and Liabilities - As of June 30, 2024, total assets amounted to RMB 28,400,691 thousand, an increase from RMB 27,449,473 thousand as of December 31, 2023[39] - The company's total liabilities increased to RMB 20,649,576 thousand as of June 30, 2024, from RMB 19,316,777 thousand as of December 31, 2023, indicating a rise of approximately 6.9%[40] - The net current assets decreased to RMB 7,751,115 thousand as of June 30, 2024, from RMB 8,132,696 thousand as of December 31, 2023, a decrease of approximately 4.7%[40] Miscellaneous - The company did not recommend any dividend payments during the reporting period[73] - There were no significant post-reporting period events affecting the group as of the announcement date[84] - The company clarified that the net profit of Nanjing Haoxiangjia Engineering Technology Co., Ltd. for the year ending December 31, 2023, was approximately RMB 55.765 million, which did not meet the committed net profit of RMB 64.775 million[85]
汇通达网络(09878) - 2024 - 中期业绩