跨境通2024年财报：亏损扩大至4.79亿，优壹电商模式调整成关键

Core Insights - Cross-border Tong reported a total revenue of 5.719 billion yuan in 2024, a year-on-year decline of 13.56%, with a net profit loss of 479 million yuan, an increase of 4842.16% compared to the previous year [1] Group 1: Business Performance - The cross-border import e-commerce business generated revenue of 5.326 billion yuan, down 12.68% year-on-year, primarily due to the business model shift from distribution to agency operation at Youyi E-commerce [4] - Youyi E-commerce, as the core business entity, reported a net profit of only 130 million yuan, indicating weak profitability despite its revenue scale [4] - The cross-border export business achieved revenue of 357 million yuan, a decline of 22.59% year-on-year, with significant drops in self-operated website revenue, which fell by 77.60% to 35.739 million yuan [5] Group 2: Operational Challenges - The company heavily relies on a few suppliers, with procurement from the top five suppliers amounting to 5.273 billion yuan, representing 97.43% of total procurement, increasing supply chain risks [6] - Operating cash flow is under pressure, with Youyi E-commerce generating a net cash flow of 182 million yuan, while other segments like Sateng and Baiyuan reported negative cash flows [6] - The overall operational quality is challenged, and the company needs to optimize supplier management and improve inventory turnover to enhance cash flow [6] Group 3: Future Outlook - The adjustments in Youyi E-commerce's business model and the sluggish export business are the main factors dragging down performance [6] - The company's ability to optimize its business layout and improve operational quality will be crucial for reversing the loss situation in the future [6]