LBX(SH:603883)2024-04-29 10:11Financial Performance - The company's operating revenue for Q1 2024 was RMB 5,539,130,441, representing a year-on-year increase of 1.81%[4] - The net profit attributable to shareholders was RMB 321,257,612, reflecting a growth of 10.27% compared to the same period last year[4] - The basic and diluted earnings per share were both RMB 0.55, an increase of 9.84% year-on-year[4] - The overall gross margin for Q1 2024 was 35.2%, an increase of 2.2 percentage points compared to the previous year[14] - The net profit attributable to shareholders was RMB 321 million, up 10.27% year-on-year, while the net profit excluding non-recurring items was RMB 311 million, an increase of 10.35%[13] - The gross profit margin for the retail segment was 38.93%, an increase of 2.22% compared to the previous year[23] - The gross profit margin for the Chinese and Western medicine segment was 33.16%, with a year-on-year increase of 3.14%[24] - Net profit for Q1 2024 was CNY 366,283,797, compared to CNY 337,503,746 in Q1 2023, indicating a growth of 8.5%[38] - Total revenue for Q1 2024 reached CNY 366,283,797, an increase from CNY 333,213,990 in Q1 2023, representing a growth of approximately 9.0%[39] Cash Flow and Investments - The net cash flow from operating activities decreased significantly by 50.89%, amounting to RMB 417,071,839, primarily due to a reduction in cash received from sales[4][8] - Cash flow from operating activities for Q1 2024 was CNY 417,071,839, a decrease from CNY 849,191,589 in Q1 2023, reflecting a decline of approximately 50.9%[40] - Cash inflow from operating activities totaled CNY 6,350,017,708 in Q1 2024, compared to CNY 6,614,001,173 in Q1 2023, showing a decline of approximately 4.0%[40] - Cash outflow from operating activities was CNY 5,932,945,869 in Q1 2024, an increase from CNY 5,764,809,584 in Q1 2023, indicating a rise of about 2.9%[40] - Net cash flow from investing activities was CNY (90,381,901) in Q1 2024, compared to CNY (201,475,121) in Q1 2023, showing an improvement of approximately 55.2%[41] - Net cash flow from financing activities was CNY (270,775,169) in Q1 2024, compared to CNY (595,175,587) in Q1 2023, indicating a reduction of about 54.5%[41] Assets and Liabilities - Total assets at the end of the reporting period were RMB 21,371,555,457, showing a slight increase of 0.66% from the end of the previous year[5] - The equity attributable to shareholders increased to RMB 7,035,513,791, marking a growth of 4.99% compared to the previous year-end[5] - Total liabilities decreased to CNY 13,715,127,807 in Q1 2024 from CNY 13,941,960,115 in Q1 2023, a reduction of 1.6%[35] - The company’s total assets as of March 31, 2024, amounted to CNY 9,195,201,197, compared to CNY 9,129,880,685 at the end of 2023[33] - The company’s inventory increased to CNY 4,244,419,612, up from CNY 4,152,484,967 at the end of 2023[33] Shareholder Information - The company had a total of 20,862 common shareholders at the end of the reporting period[9] - The top ten shareholders held a combined 78.87% of the company's shares, with the largest shareholder owning 26.11%[10] Store and Network Expansion - The company expanded its network to 14,109 stores nationwide, with 9,470 being direct stores and 4,639 being franchise stores[17] - The company opened 642 new stores in Q1 2024, including 357 direct-operated stores and 285 franchised stores, bringing the total to 14,109 stores[27] - As of the end of Q1 2024, the company had 4,673 outpatient coordination stores, with 39.78% being direct stores[16] - The company added 11 outpatient chronic disease designated stores in Q1 2024, bringing the total to 1,595 stores[20] Sales and Marketing - The company implemented the Torch Project, resulting in a sales proportion of self-owned brands reaching 20.8%, an increase of 1.3 percentage points year-on-year[14] - Online channel sales in Q1 2024 amounted to approximately RMB 500 million, reflecting a year-on-year growth of 42%[19] - In Q1 2024, the franchise business generated delivery revenue exceeding RMB 530 million, while alliance business sales reached RMB 93.76 million, a year-on-year increase of 98.9%[18] - The total number of members reached 90.98 million, with active members numbering 14.23 million, and member sales accounting for 74%[20] - The company launched five brand co-creation activities in Q1 2024, significantly increasing brand exposure to over 450 million times[22] Expenses - Operating costs for Q1 2024 increased to CNY 5,093,418,767 from CNY 5,037,495,845 in Q1 2023, reflecting an increase of 1.2%[36] - Research and development expenses for Q1 2024 were CNY 196,068, a decrease from CNY 224,510 in Q1 2023, down by 12.7%[38] - Sales expenses rose to CNY 1,196,979,024 in Q1 2024 from CNY 1,097,776,120 in Q1 2023, an increase of 9%[38] Return on Equity - The weighted average return on equity was 4.68%, up by 0.32 percentage points[4]