家家悦(603708) - 2025 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2025 was CNY 4,941,488,226.11, a decrease of 4.77% compared to CNY 5,188,974,365.75 in the same period last year[4] - Net profit attributable to shareholders was CNY 141,889,668.40, down 3.59% from CNY 147,171,979.44 year-on-year[4] - The net profit excluding non-recurring gains and losses increased by 3.92% to CNY 141,070,622.94 from CNY 135,744,217.17 in the previous year[4] - Total revenue for Q1 2025 was CNY 4,941,488,226.11, a decrease of 4.76% compared to CNY 5,188,974,365.75 in Q1 2024[27] - The net profit for Q1 2025 was CNY 144,007,890.25, a decrease of 5.9% compared to CNY 152,810,388.53 in Q1 2024[28] - The total comprehensive income for Q1 2025 was CNY 143,997,688.67, compared to CNY 152,822,708.86 in Q1 2024[28] Earnings and Profitability - The basic earnings per share decreased by 4.35% to CNY 0.22 from CNY 0.23 in the same period last year[4] - The diluted earnings per share decreased by 8.33% to CNY 0.22 from CNY 0.24 year-on-year[4] - The weighted average return on equity increased slightly to 5.77% from 5.71% in the previous year[4] - The company incurred a total operating profit of CNY 194,969,963.87 in Q1 2025, slightly up from CNY 190,454,576.46 in Q1 2024[28] Cash Flow and Liquidity - The net cash flow from operating activities rose by 10.06% to CNY 772,516,714.36 compared to CNY 701,927,259.82 in the same period last year[4] - Cash and cash equivalents increased to CNY 2,480,229,270.43 as of March 31, 2025, up from CNY 2,067,859,399.87 at the end of 2024, representing a growth of 20.00%[23] - Cash and cash equivalents at the end of Q1 2025 totaled CNY 2,438,388,666.60, an increase from CNY 2,231,080,970.49 at the end of Q1 2024[31] - The company reported a net cash outflow from investing activities of CNY -109,237,989.61 in Q1 2025, an improvement from CNY -266,007,400.38 in Q1 2024[31] - The cash inflow from investment activities in Q1 2025 was CNY 553,863,331.16, significantly higher than CNY 201,203,721.85 in Q1 2024[31] Assets and Liabilities - Total assets at the end of the reporting period were CNY 13,250,717,816.20, a decrease of 1.27% from CNY 13,421,563,861.34 at the end of the previous year[5] - Total liabilities decreased to CNY 10,725,917,816.03 as of March 31, 2025, compared to CNY 11,015,380,467.60 at the end of 2024, a reduction of 2.63%[25] - Shareholders' equity attributable to the parent company increased by 4.86% to CNY 2,513,170,887.82 from CNY 2,396,672,503.24 at the end of the previous year[5] - Shareholders' equity increased to CNY 2,524,800,000.17 as of March 31, 2025, up from CNY 2,406,183,393.74 at the end of 2024, reflecting a growth of 4.92%[25] Store Operations - In Q1 2025, the company opened 8 new direct-operated stores and 7 new franchise stores, bringing the total number of stores to 1,095, including 945 direct-operated and 150 franchise stores[12] - The company closed 20 direct-operated stores due to network optimization and underperformance, totaling a contract area of 24,511.17 square meters[14] - The main business revenue from direct-operated stores in Shandong province was CNY 357,198.49 million, a year-on-year decrease of 6.93%, while the revenue from stores outside Shandong was CNY 87,558.87 million, an increase of 2.34%[16] - The overall main business revenue for direct-operated stores was CNY 444,757.36 million, reflecting a year-on-year decline of 5.24%[16] Cost Management - Total operating costs for Q1 2025 were CNY 4,746,984,603.95, down from CNY 5,005,844,419.43 in Q1 2024, reflecting a reduction of 5.16%[27] - Gross profit margin for Q1 2025 improved to 3.92% from 3.54% in Q1 2024, indicating better cost management[27] - The gross profit margin for the overall business was 20.35%, with a year-on-year increase of 0.95%[16] Strategic Focus - The company’s strategic focus includes optimizing store layouts and enhancing operational efficiency in response to market changes[20] - The company plans to continue expanding its store network while monitoring performance metrics closely to ensure sustainable growth[20] Shareholding Structure - The company’s shareholding structure includes major shareholders such as Jiajiayue Holding Group Co., Ltd. with 401,786,932 shares, accounting for a significant portion of the total shares[10] - As of the reporting period, the company held 11,935,417 shares in its repurchase account, representing 1.87% of the total share capital[10] Research and Development - Research and development expenses for Q1 2025 were CNY 545,425.76, significantly lower than CNY 3,281,409.41 in Q1 2024, indicating a strategic shift in R&D investment[27] Investment Performance - The company reported a net investment loss of CNY 1,543,538.15 in Q1 2025, an improvement from a loss of CNY 1,719,173.47 in Q1 2024[27]