Financial Performance - For the six months ended June 30, 2025, the company reported revenue of RMB 449.5 million, a year-on-year increase of 25.6% compared to RMB 357.8 million in 2024[6]. - Gross profit for the same period was RMB 169.1 million, reflecting a 38.9% increase from RMB 121.7 million in the previous year, with a gross margin of 37.6%, up 3.6 percentage points[6][9]. - Net profit reached RMB 326.9 million, a significant recovery from a loss of RMB 479.9 million in the prior year[6]. - Adjusted net profit was RMB 38.8 million, representing a 126.1% increase from RMB 17.1 million in 2024, with an adjusted net profit margin of 8.6%, up 3.8 percentage points year-on-year[6][9]. - Revenue for the six months ended June 30, 2025, reached RMB 449,506 thousand, a 25.6% increase from RMB 357,780 thousand in the same period of 2024[26]. - Gross profit for the same period was RMB 169,102 thousand, up 39% from RMB 121,748 thousand year-over-year[26]. - The net profit for the six months ended June 30, 2025, was RMB 326,899 thousand, a significant recovery from a loss of RMB 479,870 thousand in the prior year[27]. - Basic earnings per share for the period was RMB 17.31, compared to a loss per share of RMB 93.37 in the same period last year[26]. Revenue Sources - The total revenue from self-operated and managed postpartum care centers reached RMB 459.6 million, a 36.5% increase compared to the previous year[13]. - Revenue from services was RMB 419,957 thousand, up from RMB 334,279 thousand, while product sales increased to RMB 29,549 thousand from RMB 23,501 thousand[42]. - Family nursing services generated revenue of RMB 38.6 million, a significant increase of 41.7% year-over-year, with a gross margin of 36.5%[21]. - Revenue from the maternity center business rose by 25.3% from RMB 308.5 million to RMB 386.6 million during the same period, driven by an increase in the number of centers and improved performance of existing centers[65]. Membership and Customer Growth - Membership numbers increased by 16,200, a significant year-on-year growth of 105.8%, driving financial performance[13]. - The company added 16,200 new members, representing a 105.8% increase year-over-year[15]. - The referral rate from existing customers rose to 40.2%, up 3 percentage points from the same period last year[15]. Operational Expansion - The number of managed postpartum care centers increased by 34 to a total of 53, contributing to a revenue of RMB 73.0 million, which is a 159.6% increase year-on-year[8][9]. - The company plans to continue expanding its store network, having opened 36 new stores in the first half of 2025, bringing the total to 113 stores globally[10][12]. - The company aims to enhance its "Family Health" ecosystem strategy, focusing on core market penetration and international expansion by 2025[25]. Marketing and Brand Influence - The company maintained a market share of over 60% in the postpartum nutrition category on Tmall during the 618 shopping festival, achieving a revenue growth of 10.6%[24]. - The company’s brand hashtag on Xiaohongshu exceeded 100 million views, significantly surpassing other market participants[17]. - The company’s marketing activities for its brands resulted in over 1.3 billion total exposures during major events, enhancing brand influence[18]. Financial Position and Cash Flow - Non-current assets increased to RMB 379,297 thousand as of June 30, 2025, compared to RMB 351,049 thousand at the end of December 2024[28]. - Current assets surged to RMB 932,605 thousand, a substantial increase from RMB 270,491 thousand in December 2024[28]. - The total liabilities decreased significantly, with current liabilities totaling RMB 419,168 thousand, down from RMB 2,022,729 thousand in December 2024[29]. - Cash flow from operating activities for the six months ended June 30, 2025, was RMB 12,104 thousand, a decrease from RMB 31,515 thousand in the same period of 2024[32]. - The company experienced a net cash outflow from investing activities of RMB 46,361 thousand, compared to RMB 136,109 thousand in the prior year, indicating improved cash management[33]. - Financing activities generated a net cash inflow of RMB 652,014 thousand, a substantial increase from RMB 29,240 thousand in the previous year, primarily due to proceeds from the IPO[34]. - The company’s cash and cash equivalents at the end of June 30, 2025, stood at RMB 678,914 thousand, a significant increase from RMB 45,533 thousand at the end of June 30, 2024[34]. Expenses and Costs - The company’s marketing expense ratio decreased to 12.0%, down 0.6 percentage points, while the management expense ratio fell to 22.1%, down 4.4 percentage points[9]. - Sales and distribution expenses increased by 19.4% from RMB 453 million to RMB 541 million for the six months ending June 30, 2025, primarily due to increased advertising expenses related to business expansion[73]. - Advertising expenses rose by 28.3% from RMB 283 million to RMB 363 million for the same period, reflecting the company's growth strategy[73]. - Administrative expenses increased by 4.7% from RMB 950 million to RMB 995 million, driven by higher labor costs and professional fees related to the company's listing preparations[74]. - R&D expenses decreased by 12.3% from RMB 65 million to RMB 57 million, attributed to reduced development needs as systems matured[75]. - Financial costs rose by 50.0% from RMB 20 million to RMB 30 million, mainly due to increased lease liabilities and short-term borrowing interest[77]. Shareholder Information - The company issued shares resulting in net proceeds of RMB 626,764 thousand during the period, enhancing its capital position[34]. - The company issued 490,000,000 shares at par value as part of a capitalization issuance, with a total capitalized amount of USD 49,000[64]. - As of June 30, 2025, the total issued shares reached 609,733,000[62]. - The board of directors recommended not to declare any interim dividend for the six months ended June 30, 2025[103]. Governance and Compliance - The company has adopted corporate governance codes and has complied with all relevant provisions since its listing date[99]. - The audit committee reviewed the unaudited interim consolidated financial statements for the six months ended June 30, 2025, and confirmed compliance with accounting standards[102].
圣贝拉(02508) - 2025 - 中期业绩