LBX(603883)2024-10-29 08:47Revenue and Profit Performance - Revenue for the first three quarters of 2024 reached RMB 16,232,148,089, an increase of 1.19% year-over-year[2] - Net profit attributable to shareholders of the listed company for the first three quarters of 2024 was RMB 630,147,823, a decrease of 12.06% year-over-year[2] - Revenue for the first three quarters of 2024 reached 16.232 billion yuan, a year-on-year increase of 1.19%[14] - Net profit attributable to shareholders of the listed company for the first three quarters of 2024 was 630 million yuan, a year-on-year decrease of 12.06%[14] - Total revenue for the first three quarters of 2024 reached RMB 16,232,148,089, a slight increase from RMB 16,041,526,841 in the same period of 2023[36] - Net profit attributable to parent company shareholders reached 630,147,823 yuan, a decrease from 716,560,499 yuan in the same period last year[37] - Total operating revenue for the first three quarters of 2024 was 18,599,452,504 yuan, compared to 18,265,401,747 yuan in the same period of 2023[39] Cash Flow and Financial Position - Net cash flow from operating activities for the first three quarters of 2024 was RMB 1,255,721,494, a decrease of 12.14% year-over-year[3] - Total assets as of the end of the third quarter of 2024 were RMB 21,211,311,937, a slight decrease of 0.09% compared to the end of the previous year[3] - Equity attributable to shareholders of the listed company as of the end of the third quarter of 2024 was RMB 6,961,742,913, an increase of 3.89% compared to the end of the previous year[3] - Net cash flow from operating activities was 1,255,721,494 yuan, down from 1,429,230,229 yuan in the previous year[39] - Total assets as of September 30, 2024, were RMB 21,211,311,937, slightly down from RMB 21,230,999,976 at the end of 2023[34] - Total liabilities as of September 30, 2024, were RMB 13,663,251,217, a decrease from RMB 13,941,960,115 at the end of 2023[35] - Shareholders' equity increased to RMB 7,548,060,720 as of September 30, 2024, up from RMB 7,289,039,861 at the end of 2023[35] - Cash and cash equivalents stood at RMB 2,099,006,221 as of September 30, 2024, up from RMB 1,974,984,513 at the end of 2023[32] - Inventory decreased to RMB 3,741,313,824 as of September 30, 2024, from RMB 4,152,484,967 at the end of 2023[32] - Long-term equity investments increased to RMB 85,220,294 as of September 30, 2024, up from RMB 67,821,191 at the end of 2023[34] - Cash and cash equivalents at the end of the period were 950,194,621 yuan, down from 1,028,321,991 yuan at the end of the previous year[41] - Total cash inflow from financing activities was 2,026,845,742 yuan, up from 1,100,273,193 yuan in the previous year[40] - Total cash outflow from investment activities was 464,461,047 yuan, compared to 706,820,762 yuan in the same period last year[40] - Net cash flow from investment activities was -439,382,336 yuan, compared to -343,615,820 yuan in the previous year[40] Store Operations and Expansion - The company had 15,591 stores as of September 30, 2024, including 10,300 directly operated stores and 5,291 franchised stores[19] - In the first three quarters of 2024, the company added 2,368 new stores, including 1,264 directly operated stores and 1,104 franchised stores[19] - The company closed 351 stores in the first three quarters of 2024, including 144 directly operated stores and 207 franchised stores[19] - Total number of stores reached 15,591, including 10,300 directly operated stores and 5,291 franchised stores[24] - In Q3 2024, the company added 2,368 new stores, with 1,264 directly operated stores and 1,104 franchised stores[24] - The company completed 3 acquisition projects in the reporting period, totaling 41 stores with a combined amount of 40.46 million yuan[22] - The company's stores in prefecture-level cities and below accounted for 77% of the total, with 80% of new stores in 2024 located in these areas[24] - The average preparation cycle for new directly operated stores in Q3 2024 was 40 days, a reduction of 5 days compared to the same period last year[24] Gross Profit and Margin - Gross profit margin for the first three quarters of 2024 was 33.87%, an increase of 1.36 percentage points year-on-year[14] - Revenue from retail business in the first three quarters of 2024 was 13.314 billion yuan, with a gross profit margin of 38.03%[15] - Revenue from the Chinese medicine business in the first three quarters of 2024 was 1.204 billion yuan, with a gross profit margin of 45.08%[17] - Revenue from non-drug products in the first three quarters of 2024 was 2.057 billion yuan, with a gross profit margin of 39.53%[17] - The gross profit margin for the first three quarters of 2024 was 33.87%, an increase of 1.36 percentage points year-on-year[25] - The company's promotional gross profit ROI was 1.49 in Q3 2024, a year-on-year increase of 6.1%[28] Online and Digital Performance - The company's online channel sales (including franchise) reached approximately 1.74 billion yuan in the first three quarters of 2024, a year-on-year increase of 16%[27] - The company's O2O and B2C sales rankings were fifth and third in the market, respectively, in Q3 2024[27] - The private domain mini-program sales increased by 22.6% year-on-year in Q3 2024, with DAU increasing by 118%[27] - The company has 12,555 O2O delivery service stores and 728 24-hour stores as of the end of the reporting period[27] - The total number of company members reached 97.17 million, with 14.65 million active members in Q3 2024 and over 3.1 million new registered members[27] Shareholder and Equity Information - The company's top shareholder, Laobaixing Pharmaceutical Group Co., Ltd., holds 26.12% of the shares, with 123,204,000 shares pledged[10] - Equity attributable to shareholders of the listed company as of the end of the third quarter of 2024 was RMB 6,961,742,913, an increase of 3.89% compared to the end of the previous year[3] - Shareholders' equity increased to RMB 7,548,060,720 as of September 30, 2024, up from RMB 7,289,039,861 at the end of 2023[35] Earnings and Return on Equity - Basic earnings per share for the third quarter of 2024 were RMB 0.17, a decrease of 37.31% year-over-year, primarily due to the decline in net profit attributable to shareholders[9] - The company's weighted average return on equity (ROE) for the first three quarters of 2024 was 9.14%, a decrease of 1.58 percentage points year-over-year[3] - Basic earnings per share (EPS) for the quarter were 0.83 yuan, compared to 0.94 yuan in the same period last year[38] - Total comprehensive income for the period was 743,726,347 yuan, a decrease from 820,172,473 yuan in the previous year[38] Non-Recurring Items and Impairment - Non-recurring gains and losses for the first three quarters of 2024 amounted to RMB 23,069,846, including government subsidies and gains from financial assets[6] - Total assets impairment loss was -10,447,829 yuan, compared to -2,659,467 yuan in the same period last year[37] Chronic Disease Management and Brand Exposure - The company's chronic disease management services have accumulated over 16.84 million records, 90.5 million self-tests, and 37.36 million follow-ups as of the end of the reporting period[30] - The company's brand exposure exceeded 1.4 billion times annually, with over 77.97 million views of brand videos on the self-media matrix in Q3 2024[31] Operating Costs and Expenses - Operating costs for the first three quarters of 2024 were RMB 15,333,787,742, compared to RMB 15,075,343,081 in the same period of 2023[36] - Sales expenses increased to RMB 3,577,910,985 in the first three quarters of 2024, up from RMB 3,355,680,232 in the same period of 2023[36] - Management expenses rose to RMB 825,589,932 in the first three quarters of 2024, compared to RMB 703,469,470 in the same period of 2023[36] Inventory and Turnover - The inventory turnover days in Q3 2024 were 98 days, a decrease of 5 days year-on-year[25] - Inventory decreased to RMB 3,741,313,824 as of September 30, 2024, from RMB 4,152,484,967 at the end of 2023[32] Franchise and Alliance Business - The company's franchised business achieved a distribution sales volume of 1.639 billion yuan, a year-on-year increase of 7.5%[24] - The alliance business achieved a distribution sales volume of 280 million yuan, a year-on-year increase of 90.8%[24] Self-Owned Brand and Sales - The company's self-owned brand sales in directly operated stores reached 2.53 billion yuan, accounting for 21.9% of total sales, an increase of 2.4 percentage points year-on-year[25] Outpatient and Internet Prescription Services - The company has 5,347 stores (including 4,170 directly operated and 1,177 franchise) with outpatient coordination qualifications, accounting for 40.49% of directly operated stores[26] - The company has 4,191 stores (including 3,384 directly operated and 807 franchise) that can use internet prescriptions, accounting for 32.85% of directly operated stores[26]