Core Viewpoint - Urban People, known as the "first stock in underwear," demonstrated strong market competitiveness and vitality by achieving impressive financial results in 2024 despite a challenging macroeconomic environment [1][3]. Financial Performance - In 2024, Urban People reported revenue of RMB 3.01 billion, representing a year-on-year growth of 9.18% [1]. - The company's profit attributable to shareholders reached RMB 126 million, a significant increase of 196.91% compared to the previous year [1]. - The total dividend payout for the year amounted to HKD 11.247 million, with a dividend per share of HKD 0.5, reflecting a dividend payout ratio of approximately 30% [1]. Operational Excellence - Urban People enhanced its online market share by strengthening partnerships with online affiliates, achieving an e-commerce GMV exceeding RMB 1.5 billion, which is over 100% growth year-on-year [3]. - The company opened more than 850 new stores, bringing the total to over 4,500, with the number of pure cotton home brand stores exceeding 100 for the first time [3]. - Urban People has maintained its position as the leading national underwear brand in terms of sales for seven consecutive years from 2017 to 2023 [3]. Product Innovation - The company has focused on its "good yet affordable" brand positioning, continuously launching new products that meet consumer needs, with a total of 561 patents as of 2024 [3]. - Notable products include the soft size invisible underwear and the black gold lightweight down clothing, which have gained widespread market recognition due to their unique design and technological advantages [3]. Brand Promotion - Urban People has actively integrated with sports and entertainment sectors, collaborating with the Chinese national synchronized swimming team and signing well-known celebrities as brand ambassadors [5]. - The company has utilized high-speed rail media to enhance brand recognition, covering over 29 provinces and more than 160 cities in China [5]. Supply Chain Management - Urban People optimized its supply chain management by introducing a flexible ordering system and rapid replenishment mechanisms, effectively reducing inventory risks and improving cash flow turnover efficiency [5]. - The company's instant retail business saw over 200% growth in 2024, catering to consumer demand for quick shopping experiences [5]. Future Outlook - Urban People plans to continue deepening its presence in the Chinese market, particularly in shopping centers and e-commerce channels, with expectations of doubling the number of pure cotton home brand stores and performance by the end of 2025 [5].
都市丽人（02298）2024财报亮眼：营收净利双增近200%，多引擎驱动国民内衣品牌焕新