LBX(SH:603883)2025-04-29 15:30Dividend Distribution - The proposed cash dividend distribution is 0.8 CNY per 10 shares, totaling 60,807,649.04 CNY (including tax) for the year 2024, which accounts for 60.15% of the net profit attributable to shareholders [6]. - The total cash dividend for 2024, including the mid-year dividend of 251,408,449.24 CNY, amounts to 312,216,098.28 CNY (including tax) [6]. - The company implemented a mid-term dividend of 251 million yuan in 2024, with a commitment to maintain a minimum of 50% of net profit as cash dividends from 2024 to 2026 [91]. - The cumulative cash dividend over the last three accounting years was CNY 990,583,068 [191]. - The average net profit over the last three accounting years was CNY 744,349,352, resulting in a cash dividend ratio of 133.08% [191]. Financial Performance - The company reported a revenue of RMB 1.5 billion for the fiscal year 2024, representing a year-over-year growth of 15% [16]. - The company's operating revenue for 2024 was CNY 22,357,610,195, a slight decrease of 0.36% compared to 2023 [24]. - Net profit attributable to shareholders decreased by 44.13% to CNY 519,063,405, primarily due to the increase in the number of new stores and goodwill impairment losses [26]. - The net cash flow from operating activities fell by 25.77% to CNY 2,026,458,797, attributed to reduced cash receipts from sales and increased payroll expenses from new store openings [26]. - Basic earnings per share dropped by 44.72% to CNY 0.68, reflecting the overall decline in profitability [25]. - The weighted average return on equity decreased to 7.84%, down from 13.91% in the previous year, indicating a significant reduction in efficiency [25]. Market Expansion and Strategy - The company plans to expand its market presence by opening 50 new stores across various provinces in 2024 [16]. - A strategic acquisition of a regional pharmacy chain is anticipated to enhance distribution capabilities and increase market share by 10% [16]. - The company aims to enhance its online-to-offline (O2O) model, targeting a 30% increase in online sales by the end of 2024 [16]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years [160]. - The company is exploring potential mergers and acquisitions to enhance growth opportunities [158]. Risk Management - The company has reported no significant risks that could materially affect its operations during the reporting period [8]. - The company has detailed various risks and countermeasures in the management discussion and analysis section of the report [8]. - The company emphasizes the importance of investor awareness regarding investment risks related to forward-looking statements [7]. - The company faces industry policy risks due to increasing regulatory scrutiny in the pharmaceutical retail sector, which could adversely affect its development if not managed properly [144]. - To mitigate market competition risks, the company will continue its digital transformation and improve operational efficiency through AI and big data technologies [144]. Operational Efficiency - The gross margin for the last quarter was reported at 35%, a slight improvement from 33% in the previous year [16]. - The company has allocated RMB 100 million for research and development in new drug formulations and delivery systems [16]. - The company reduced inventory turnover days to 94 days by the end of 2024, a decrease of 4 days year-on-year, while the proportion of centralized procurement sales increased to 72.4% [86]. - The company completed 479 non-operational procurement projects in 2024, achieving a cost reduction of over 16 million yuan, with a reduction rate of over 7% [86]. - The company is enhancing its quality and compliance management systems, establishing a four-level quality management structure [98]. Customer Engagement and Satisfaction - User data indicates an increase in active customers by 20% to 3 million in the last quarter [16]. - The company’s total membership reached 99.65 million by the end of 2024, with 30.34 million active members and a membership sales contribution exceeding 75% [90]. - Customer satisfaction ratings have improved, with a reported 90% satisfaction rate in recent surveys [160]. - The company has established a smart chronic disease management service system, with over 18.12 million people registered for chronic disease management services and 99.23 million self-testing services provided by the end of 2024 [82]. Corporate Governance - The company held 4 shareholder meetings during the reporting period, ensuring compliance with legal requirements and maintaining transparency in decision-making processes [149]. - The company disclosed a total of 89 announcements during the reporting period, adhering to legal obligations for accurate and timely information disclosure [150]. - The company has undergone a board election, resulting in the appointment of new directors including Xie Jiaqi and Liu Xiaoen [165]. - The company is committed to aligning its compensation practices with shareholder interests through board approval processes [164]. - The company continues to focus on governance and compliance through regular board elections and management reviews [165]. Research and Development - The company has invested 1.23 million RMB in environmental protection during the reporting period [199]. - Research and development expenses totaled 136,011,931, representing 0.61% of total revenue, with 98.52% of R&D costs capitalized [115]. - Investment in R&D has increased by 30%, focusing on innovative technologies and product development [161]. - The number of R&D personnel is 434, making up 1.08% of the total workforce [116]. - The company has developed 1,900 courses on its learning platform, with a total of over 769 million learning instances [179].