永辉超市(601933) - 2024 Q3 - 季度财报

Financial Performance - The company's revenue for Q3 2024 was approximately ¥16.77 billion, representing a decrease of 16.40% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was a loss of approximately ¥353.18 million, with a year-to-date loss of approximately ¥778.66 million[2]. - The gross profit margin for the first three quarters was 20.84%, a decrease of 0.79 percentage points year-on-year, while the gross profit margin for Q3 was 19.19%, down 1.69 percentage points year-on-year[8]. - The basic earnings per share for the first three quarters was -¥0.01, compared to ¥0.01 in the same period last year[9]. - The weighted average return on equity was -5.91% for Q3 2024, down from 0.70% in the same period last year[9]. - In Q3 2024, Yonghui Supermarket reported a net loss of CNY 162.72 million, compared to a net loss of CNY 19.70 million in Q3 2023, indicating a significant decline in profitability[23]. - The total comprehensive loss for Q3 2024 was CNY 161.43 million, compared to a comprehensive loss of CNY 15.05 million in Q3 2023, highlighting a worsening financial position[24]. - The company's operating profit for Q3 2024 was a loss of CNY 156.49 million, compared to a loss of CNY 42.28 million in Q3 2023, reflecting a deterioration in operational performance[23]. Revenue and Sales - Total revenue for the first three quarters of 2024 was 54.55 billion RMB, a decrease of 12.4% compared to 62.09 billion RMB in the same period of 2023[21]. - The company reported a cash flow from operating activities of approximately ¥3.78 billion year-to-date, a decrease of 29.70% compared to the previous year[2]. - In Q3 2024, Yonghui Supermarket reported a total revenue of RMB 512.52 billion, representing a year-on-year decline of 11.32%[13]. - The online business revenue reached RMB 11.57 billion, down 5.63% year-on-year, accounting for 21.21% of total revenue[14]. - The "Yonghui Life" app covered 780 stores, generating sales of RMB 6.31 billion, a decrease of 1.1% year-on-year, with an average daily order volume of 314,000, up 0.96%[14]. - The Southeast region generated RMB 87.03 billion in revenue, down 12.03% year-on-year, with a gross margin of 18.86%, an increase of 1.13 percentage points[13]. - The North China region reported revenue of RMB 54.82 billion, down 10.34% year-on-year, with a gross margin of 16.40%, a decrease of 0.70 percentage points[13]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥44.88 billion, a decrease of 13.79% from the previous year[4]. - The company's total liabilities decreased to 39.10 billion RMB from 46.12 billion RMB year-over-year, showing a reduction in financial obligations[20]. - The company's inventory decreased to 5.37 billion RMB from 8.27 billion RMB year-over-year, indicating improved inventory management[19]. - The total assets of the company as of September 30, 2024, were 44.88 billion RMB, down from 52.05 billion RMB at the end of 2023[20]. Operational Changes - The company closed or remodeled 10 stores to improve customer experience, with remodeled stores showing significant revenue growth[8]. - The company plans to continue optimizing store operations and product offerings to enhance customer satisfaction and drive sales growth[8]. - The company has renovated 10 stores to improve product quality and service, transitioning towards a quality retail model[16]. - The company opened 2 new stores in Q3 2024, including a supermarket in Anhui and another in Beijing, with lease areas of 4,687.9 square meters and 4,018.75 square meters respectively[14]. Investment and Cash Flow - The company reported a significant increase in cash outflows related to investment activities, totaling CNY 8.34 billion in the first nine months of 2024, compared to CNY 2.26 billion in the same period of 2023[26]. - Investment activities resulted in a net cash outflow of CNY 3.50 billion in the first nine months of 2024, compared to a net outflow of CNY 289.99 million in the same period of 2023, indicating a substantial increase in investment expenditures[26]. - The company's cash and cash equivalents at the end of Q3 2024 stood at CNY 3.69 billion, down from CNY 6.66 billion at the end of Q3 2023, reflecting a decrease of approximately 44.6%[26]. - Cash flow from operating activities generated a net inflow of CNY 3.78 billion in the first nine months of 2024, compared to CNY 5.37 billion in the same period of 2023, a decrease of about 29.6%[25]. Shareholder Information - The company’s total shares repurchased amounted to 149,999,828 shares, representing 1.65% of the total share capital[12]. - The company’s major shareholders include Milk Co., Ltd. with a 21.08% stake and Zhang Xuansong with an 8.72% stake[11]. Product Development - The company launched 23 new SKUs under its private label, including products like corn oil and enzyme laundry detergent, enhancing market exposure through platforms like Xiaohongshu and Douyin[16]. - The average monthly sales for the craft beer series reached 5.2 million RMB since its launch in May, with the German wheat beer averaging 2.1 million RMB per month[16]. - The self-owned brand revenue was RMB 1.499 billion, accounting for 2.75% of total revenue, with a total of 279 products[15]. Research and Development - Research and development expenses for the first three quarters of 2024 were 184.32 million RMB, a decrease of 33.6% from 277.49 million RMB in the same period of 2023[21].