LBX(SH:603883)2025-04-29 15:30Financial Performance - The company's operating revenue for Q1 2025 was CNY 5,435,220,089, a decrease of 1.88% compared to CNY 5,539,130,441 in the same period last year[4]. - Net profit attributable to shareholders decreased by 21.98% to CNY 250,636,310 from CNY 321,257,612 year-on-year[4]. - The net profit after deducting non-recurring gains and losses was CNY 243,498,304, down 21.59% from CNY 310,558,626 in the previous year[4]. - Basic and diluted earnings per share were both CNY 0.33, a decrease of 21.43% from CNY 0.42 in the previous year[6]. - The weighted average return on equity decreased by 0.94 percentage points to 3.74% from 4.68% year-on-year[6]. - Total operating revenue for Q1 2025 was CNY 5,435,220,089, a decrease of 1.88% compared to CNY 5,539,130,441 in Q1 2024[46]. - Net profit for Q1 2025 was CNY 287,724,682, a decrease of 21.43% from CNY 366,283,797 in Q1 2024[48]. - Earnings per share for Q1 2025 was CNY 0.33, down from CNY 0.42 in Q1 2024[48]. Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 92.84% to CNY 804,266,875, compared to CNY 417,071,839 in the same period last year[4][8]. - Cash flow from operating activities for Q1 2025 showed a positive trend, indicating improved liquidity[50]. - Cash flow from operating activities for Q1 2025 was $804,266,875, a significant increase of 92.7% compared to $417,071,839 in Q1 2024[52]. - Total cash inflow from operating activities decreased to $6,128,888,296 in Q1 2025 from $6,350,017,708 in Q1 2024, reflecting a decline of 3.5%[52]. - Cash outflow from operating activities decreased to $5,324,621,421 in Q1 2025 from $5,932,945,869 in Q1 2024, a reduction of 10.2%[52]. - The ending cash and cash equivalents balance for Q1 2025 was $937,559,666, down from $992,416,096 in Q1 2024[53]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 21,032,492,621, a slight decrease of 0.06% from CNY 21,044,853,679 at the end of the previous year[6]. - Total liabilities decreased to CNY 13,617,227,310 from CNY 13,888,903,390[42]. - The equity attributable to shareholders increased to CNY 6,831,826,301 from CNY 6,580,857,270[42]. Store and Market Expansion - As of Q1 2025, the company has a total of 15,252 stores, including 9,844 direct-operated and 5,408 franchised stores, with a net addition of 211 stores during the quarter[13]. - The company has expanded its market presence to cover 18 provincial markets and over 150 cities, focusing on 11 key provinces to enhance market share[13]. - The total number of ordinary shareholders at the end of the reporting period was 48,022[10]. Sales and Revenue Streams - The company achieved a gross margin of 34.22% in Q1 2025, with offline store sales gross margin increasing by 0.70 percentage points year-on-year[19]. - The company’s membership total reached 102.05 million, with 15.46 million active members in Q1 2025, and membership sales accounted for 73% of total sales[24]. - The company’s supply chain resources supported franchise development, resulting in a delivery revenue of over 580 million RMB in Q1 2025[14]. - The company’s alliance business achieved a delivery sales amount of 126 million RMB in Q1 2025, representing a year-on-year growth of 34%[16]. - The company’s self-owned brand sales exceeded 900 million RMB in Q1 2025, with a sales proportion of approximately 23.3%, an increase of 2.5 percentage points year-on-year[20]. - The company’s online sales (including franchises) reached approximately CNY 750 million, a year-on-year increase of 34%[26]. - Private domain sales increased by 58.5% year-on-year during the Spring Festival period, with new product sales accounting for over 18% of private domain sales[26]. Research and Development - Research and development expenses increased significantly to CNY 8,405,207 in Q1 2025 from CNY 196,068 in Q1 2024[46]. Other Notable Information - The company received government subsidies amounting to CNY 8,051,561, which are closely related to its normal operations[7]. - The company acquired a 20% stake in Hunan Laobaixing Huairen Pharmacy Chain Co., Ltd. for CNY 385 million, with the transaction yet to be completed[37][38]. - The company successfully opened 3 diversified stores, with non-pharmaceutical sales accounting for an increase of 2.8 percentage points[27]. - The company’s SKU count reached approximately 25,100, with inventory turnover days reduced to 92 days, a decrease of 13 days year-on-year[20]. - The company has 9,158 stores with various medical insurance qualifications, representing 93.03% of its direct-operated stores[35]. - The gross profit margin for the retail segment decreased by 0.52 percentage points to 38.40%, primarily due to the increased proportion of online business[29]. - The daily active users (DAU) of the mini-program mall increased by 70% year-on-year, surpassing 200,000[26].