Core Insights - Nayuki's Tea reported a revenue of 4.921 billion yuan in 2024, a year-on-year decline of 4.7% [1] - The company experienced an adjusted net loss of 919 million yuan, contrasting sharply with a profit of 20.9 million yuan in 2023 [1] - The decline in performance is attributed to a sluggish consumer market, changing customer consumption habits, and intensified industry competition [1] Store Performance - In 2024, Nayuki's Tea closed 121 direct-operated stores, reducing the total from 1,574 in 2023 to 1,453 [2] - The average sales value per order decreased from 29.6 yuan to 26.7 yuan, and the average daily order volume per store fell from 344.3 to 270.5 [2] - The total number of stores increased to 1,798, with 1,453 direct-operated and 345 franchise stores [1][2] Financial Metrics - The net cash generated from operating activities plummeted by 75.7%, down to 202 million yuan [2] - Material costs as a percentage of total revenue rose from 32.9% to 36.8%, while employee costs increased from 27.2% to 29.2%, indicating pressure on cost control [2] - The company reported a total cash and deposits of 2.694 billion yuan, indicating sufficient liquidity for business adjustments and stable development [2] Membership and Engagement - The registered membership reached approximately 103 million, with an increase of 10.5 million from the previous year [2] - Monthly active members grew to 4.8 million, and the monthly repurchase rate improved to 24% [2]
奈雪的茶盈利转亏，去年关了121家直营门店 | 财报速递