中兴商业2024年财报：营收利润双降，线上业务表现乏力

Core Viewpoint - The financial performance of Zhongxing Commercial in 2024 showed significant declines in both revenue and net profit, indicating operational pressures despite attempts at innovation in the retail sector [1][4][6] Financial Performance - The company reported a total revenue of 763 million yuan in 2024, a decrease of 5.76% from 810 million yuan in 2023 [4] - The net profit attributable to shareholders fell to 100 million yuan, down 25.27% from 134 million yuan [4] - The non-recurring net profit saw a more pronounced decline of 36.36%, amounting to 84.2 million yuan [1][4] Operational Challenges - Increased management and sales expenses contributed to profit compression, with management expenses rising by 4.68% and sales expenses increasing by 23.11% [4] - The employee stock ownership plan expenses led to a direct reduction in total profit by approximately 28.76 million yuan [4] Innovation Limitations - The company's initiatives in the first-store economy and track economy did not yield significant performance improvements, revealing limitations in brand introduction and event planning [5][6] - Although some success was noted in attracting customers through first-store initiatives, high operational costs and limited brand appeal hindered sustained sales growth [5] - The activities related to the track economy attracted some foot traffic but lacked effective conversion rates and sustainability [6] Future Challenges - The overall performance in 2024 was unsatisfactory, with declining revenue and profit, weak online business, and limitations in innovative measures becoming increasingly apparent [6] - The company faces the primary challenge of finding new growth points amid digital transformation and market competition [6]