天虹股份(002419) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 was ¥11,786,061,908.57, a decrease of 2.49% compared to ¥12,086,467,638.90 in 2023[19] - The net profit attributable to shareholders for 2024 was ¥76,717,389.27, down 66.16% from ¥226,677,586.81 in 2023[19] - The net profit after deducting non-recurring gains and losses was ¥13,930,196.03, a decline of 89.13% from ¥128,189,387.88 in 2023[19] - The net cash flow from operating activities decreased by 28.16% to ¥1,973,066,353.58 from ¥2,746,436,020.34 in 2023[19] - Basic earnings per share for 2024 were ¥0.0656, a decrease of 66.17% compared to ¥0.1939 in 2023[19] - Total assets at the end of 2024 were ¥28,304,086,062.17, a decrease of 0.68% from ¥28,497,099,631.74 at the end of 2023[19] - The net assets attributable to shareholders at the end of 2024 were ¥4,098,327,920.28, down 2.62% from ¥4,208,470,205.40 at the end of 2023[19] - The weighted average return on equity for 2024 was 1.86%, a decrease of 3.65 percentage points from 5.51% in 2023[19] - The company reported a non-operating income of ¥62.79 million in 2024, down from ¥98.49 million in 2023, indicating a decrease in non-recurring gains[26] - The adjusted EBITDA for 2024 was approximately ¥622.64 million, down 28.84% from ¥875.04 million in 2023[57] - The net profit for the year 2024 was approximately ¥77.30 million, a decrease of 65.92% compared to ¥226.80 million in 2023[57] Revenue Breakdown - In Q1 2024, the company reported operating revenue of approximately ¥3.34 billion, while Q2, Q3, and Q4 revenues were ¥2.78 billion, ¥2.93 billion, and ¥2.74 billion respectively[24] - The company achieved a sales revenue of 35.8 billion CNY in 2024, a year-on-year decrease of 1.8%, and a net profit attributable to shareholders of 0.77 billion CNY, down 66.16% year-on-year[43] - The retail segment accounted for 97.60% of total revenue, with a revenue of approximately ¥11.50 billion, down 1.94% from ¥11.73 billion in the previous year[79] - The sales revenue for shopping centers was approximately ¥1.50 billion, an increase of 5.52% year-on-year, while department stores saw a decrease of 9.85% to approximately ¥1.14 billion[68] - The supermarket segment saw a 48% year-on-year increase in sales of 50 major products, and self-owned brand sales grew by 11%[45] - The revenue from fresh and cooked products increased by 2.83% year-on-year, reaching approximately ¥3.20 billion, accounting for 27.18% of total revenue[78] Store Operations - The company opened 5 new large stores and closed 7 stores during the reporting period, resulting in a total of 214 stores, a net decrease of 2 stores[59] - The total area of the stores reached approximately 478.68 million square meters, with shopping centers accounting for 58.19% of the total area[59] - The company operates in 7 provinces/cities with a total of 35 cities, managing 45 shopping centers, 59 department stores, and 110 supermarkets[58] - The company accelerated the transformation of its key stores, with 19 key stores generating sales of 10.6 billion CNY, accounting for 31% of total sales, while the overall sales of the department store segment decreased by 9.85% year-on-year[44] Digital Transformation - The company has transformed into a digital commerce enterprise, focusing on digital retail and digital industry businesses, enhancing its service offerings through technology[32] - The company aims to enhance its core competitiveness through digital technology, product quality, service innovation, and customer experience[35] - The company is actively developing its digital asset management and customer relationship management systems to improve operational efficiency and customer engagement[36] - The digital membership count reached approximately 50.99 million, an increase of 8.3% year-on-year, with a 1.1% growth in active consumer members[47] - The company launched the first retail AI model, "Bailing Bird AI," and achieved a 22.89% year-on-year increase in revenue from external business collaborations[48] - The company is focusing on enhancing its AI capabilities in retail, aiming to improve customer satisfaction and operational efficiency[94] Cost Management - Total expenses decreased by 5.39% year-on-year as part of the company's cost control initiatives[51] - The main business cost for retail in 2024 was approximately ¥7.39 billion, accounting for 99.38% of total operating costs, a slight decrease of 0.48% compared to 2023[84] - Fresh and cooked products represented 33.98% of the main business cost in 2024, with a total cost of approximately ¥2.53 billion, reflecting a year-on-year increase of 4.62%[85] - Sales expenses decreased by 5.28% to approximately ¥3.68 billion in 2024, while management expenses increased by 8.74% to approximately ¥413.18 million[92] Governance and Management - The company maintains a governance structure compliant with relevant laws and regulations, ensuring effective decision-making and supervision[129] - The company has revised several internal control documents to enhance operational governance[134] - The company has a diverse board composition, including independent directors and supervisors from various sectors[161] - The company has seen changes in its board composition, reflecting a proactive approach to governance and management[145] - The company is committed to maintaining a strong leadership team to navigate future challenges and opportunities[149] Shareholder Engagement - The company held multiple investor communication activities, including a performance briefing on April 1, 2024, attended by a wide range of investors[126] - The annual shareholders' meeting on April 8, 2024, had a participation rate of 60.92%[141] - The first extraordinary shareholders' meeting on October 15, 2024, had a participation rate of 60.00%[142] - The second extraordinary shareholders' meeting on November 11, 2024, had a participation rate of 59.84%[142] Social Responsibility and Community Engagement - The company is committed to supporting community development and charity initiatives as part of its social responsibility efforts[196] - The company established a "Rural Revitalization Department" to enhance its core functions and accelerate the development of new productive forces[199] - In 2024, the company achieved a sales revenue of 160 million yuan from rural revitalization assistance[199]