Core Viewpoint - Baozun E-commerce (09991) reported a total revenue of 9.478 billion yuan for the fiscal year 2024, representing a year-on-year growth of 6.07%, while the net profit attributable to shareholders was a loss of 185 million yuan, an improvement from a loss of 278 million yuan in the previous year [2] Financial Performance - Total revenue for 2024 was 9.478 billion yuan, up 6.07% year-on-year [2] - Net profit attributable to shareholders was a loss of 185 million yuan, compared to a loss of 278 million yuan in the same period last year [2] - Operating cash flow net amount was 101 million yuan, down 77.41% year-on-year [21] - Basic earnings per share were -1.03 yuan, with a weighted average return on equity of -4.57%, an increase of 2.19 percentage points from the previous year [2][17] Valuation Metrics - As of April 23, the price-to-book ratio (TTM) was approximately 0.25 times, and the price-to-sales ratio (TTM) was about 0.11 times [2] Business Model - Baozun E-commerce primarily provides brand e-commerce solutions, including IT solutions, online store operations, digital marketing, customer service, and warehousing and fulfillment [8] - The company operates under three business models: distribution model, service fee model, and consignment model, offering omnichannel solutions across various platforms [8] Cash Flow and Investment Activities - Cash flow from financing activities was -19.737 million yuan, a decrease of 11.704 million yuan year-on-year [21] - Cash flow from investment activities was -818 million yuan, compared to -340 million yuan in the previous year [21] Asset and Liability Changes - As of the end of 2024, cash and cash equivalents decreased by 30.1%, and right-of-use assets decreased by 28.29% [29] - Prepayments increased by 25.18%, while inventory rose by 6.92% [29] - Lease liabilities decreased by 25.19%, while short-term borrowings increased by 9.43% [32] Liquidity Ratios - The current ratio was 1.93, and the quick ratio was 1.63 as of 2024 [38]
宝尊电商-W：2024年亏损1.85亿元