Financial Performance - The company reported a revenue increase of 15% year-over-year, reaching $150 million for the last fiscal year[2]. - Revenue for the fiscal year ending December 31, 2024, reached $345,782,000, a 71.7% increase from $201,339,000 in 2023[15]. - Net profit for the same period was $19,042,000, representing a 151.5% increase compared to $7,572,000 in 2023[15]. - Revenue increased by approximately 71.7% to about $345,782,000 in 2024, compared to $201,339,000 in 2023[50]. - Net profit soared 1.5 times to approximately $19,042,000, with a net profit margin of 5.5% in 2024, up from 3.8% in 2023[50]. - Revenue from beauty products surged to $318,742,000 in 2024, compared to $162,230,000 in 2023[17]. - Revenue from the U.S. market increased to $116,465,000 in 2024, a 33.0% growth from $87,564,000 in 2023[21]. - Retail revenue from YesStyle and other platforms grew by 67.4% to approximately $265,635,000, while wholesale revenue surged by 100.2% to about $77,670,000[50]. User Engagement and Growth - User data showed a growth of 20% in active users, totaling 1.2 million by the end of the reporting period[2]. - The number of customers on the YesStyle platform grew to 2,258,000 in 2024, up from 1,423,000 in 2023[17]. - YesStyle platform registered approximately 17,400,000 members by December 31, 2024, an increase from 13,335,000 in 2023, with monthly average visits rising to about 15,667,000[54]. - The number of key opinion leaders for YesStyle increased to approximately 403,000 in 2024, up from 333,000 in 2023, enhancing audience engagement[58]. Market Expansion and Strategy - The company provided a forward guidance of 10% revenue growth for the next quarter, projecting revenues of approximately $165 million[2]. - Market expansion efforts have led to a 30% increase in sales in non-core markets, totaling $30 million[2]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2025[3]. - The flagship e-commerce platform YesStyle saw a revenue increase of approximately 91.3% in the EU region in 2024, supported by five European languages and effective influencer marketing[35]. - In Latin America, the company recorded outstanding revenue growth of approximately 536.1% in 2024, aided by Spanish language support on the YesStyle platform[36]. Product Development and Innovation - New product launches contributed to a 25% increase in sales in the beauty segment, with total sales reaching $50 million[2]. - The company is investing $5 million in R&D for autonomous logistics technology, aiming to enhance operational efficiency[2]. - New product launches are expected to contribute an additional $50 million in revenue, with a focus on innovative technology solutions[4]. Corporate Governance and Management - The management team emphasized the importance of maintaining strong corporate governance practices, adhering to the updated guidelines[6]. - The company has implemented several internal controls to safeguard assets and ensure compliance with applicable laws and regulations[7]. - The board of directors is committed to enhancing shareholder value through strategic planning and performance monitoring[8]. - The company has established an audit committee, a remuneration committee, and a nomination committee to oversee specific matters[143]. Financial Health and Investments - Total assets increased to $120,569,000 in 2024 from $74,485,000 in 2023, marking a significant growth[14]. - The company's cash and cash equivalents decreased by approximately $9,640,000 during the reporting year, resulting in a balance of about $15,448,000 as of December 31, 2024[91]. - The company's debt-to-equity ratio increased from approximately 34.8% as of December 31, 2023, to about 43.0% as of December 31, 2024, mainly due to increased lease liabilities for the new warehouse[97]. - The company has no outstanding bank borrowings as of December 31, 2024, and has unused bank financing of approximately $24,288,000[94]. Employee and Operational Metrics - The total employee team includes 155 males (29.8%) and 365 females (70.2%) as of December 31, 2024[148]. - The group has 520 employees as of December 31, 2024, an increase from 454 employees in 2023[104]. - Employee costs increased by approximately $5,775,000 or 34.5% due to an increase in headcount from 357 to 416[83]. Marketing and Customer Engagement - A new marketing strategy is projected to improve customer engagement by 15% over the next year[2]. - Influencer referrals generated revenue increased to approximately $73,287,000 in 2024, up from $40,422,000 in 2023, accounting for about 27.6% of YesStyle's platform revenue[59]. - The company successfully executed three major promotional events in 2024, achieving sales increases ranging from over 300% to over 2,000%[54]. Risk Management and Compliance - The group has implemented appropriate internal controls and risk management measures regarding sanctions, with no transactions with sanctioned countries or individuals during the reporting year[107]. - The company has a standard code of conduct for directors regarding securities trading, ensuring compliance with established guidelines[177]. - The board completed a review of the risk management and internal control system during the reporting year and deemed it efficient and adequate[173].
喆丽控股(02209) - 2024 - 年度财报