ZOENN DESIGN(SZ:300901) Bei Jing Shang Bao·2025-04-17 13:57Core Viewpoint - Zhongyin Fashion (300901) has reported a net loss of approximately 33.23 million yuan for 2024, marking the first net loss since its IPO, indicating a significant decline in performance post-listing [1][3][5]. Financial Performance - The company achieved operating revenue of approximately 358.28 million yuan in 2024, a decrease of 26.96% compared to 2023 [2][3]. - The net profit attributable to shareholders was -33.23 million yuan, a decline of 255.66% year-on-year [2][3]. - The net profit after deducting non-recurring gains and losses was -26.67 million yuan, also reflecting a significant decline of 226.71% [2][3]. - The total assets decreased by 10.05% to approximately 1.16 billion yuan, while net assets attributable to shareholders fell by 4.27% to about 983.22 million yuan [2]. Revenue Sources - Over 80% of Zhongyin Fashion's revenue comes from overseas markets, with more than half of this revenue derived from a single major client, CCC.EUSP.ZO.O., which accounted for approximately 53.88% of total revenue [6][8]. - Domestic sales amounted to about 60.65 million yuan, representing only 16.93% of total revenue [6]. Research and Development - The company has reduced its R&D expenses to approximately 7.56 million yuan in 2024, a decrease of 18.16% year-on-year [9][11]. - The number of R&D personnel has significantly decreased from 35 in 2023 to 17 in 2024, indicating a shift in focus away from R&D [9][11]. - The company has changed its initial fundraising project from "R&D Center Construction" to "Self-owned Brand Operation and Promotion Project," reallocating funds to support brand operations [10]. Sales and Marketing - Sales expenses increased by 42.97% to approximately 23.16 million yuan in 2024, attributed to the expansion of brand operation activities and related costs [11].