Anzheng Fashion(SH:603839) Zheng Quan Shi Bao Wang·2025-04-30 10:31Core Insights - The chairman of Anzheng Fashion, Zheng Anzheng, emphasizes a commitment to transparency and communication with shareholders through annual letters, highlighting strategic themes for each year [1] - The 2024 theme focuses on quality, technology, and innovation as the foundation for a new future in fashion, with detailed strategic initiatives outlined [1] Financial Performance - In 2024, Anzheng Fashion reported a total revenue of 2.034 billion yuan, showing a slight decline year-on-year [2] - The brand apparel segment generated 1.248 billion yuan, down 8.21% year-on-year, while the e-commerce service segment saw revenue of 733 million yuan, up 9.34% [2] - The main brand JZ Jiuzi achieved a comparable growth of 12% in Q1 2025, indicating a positive trend in profitability for core distributors [2] Strategic Initiatives - The company is focusing on brand upgrades, channel optimization, and enhancing the "quality-price ratio" as core operational goals [4] - The brand strategy aims to position JZ Jiuzi as a "mass daily luxury" product, enhancing brand influence through digital retail upgrades and international showcases [3] - Anzheng Fashion is transitioning towards a "technology-driven fashion ecosystem," leveraging AI and digital strategies to create a comprehensive retail experience [3] Market Outlook - The company expresses confidence in the long-term trend of consumer upgrades in China, aiming to expand both domestic and international business opportunities [4] - The e-commerce service segment is seen as a crucial support for the company's transformation, with initiatives to enhance cross-border e-commerce channels [3]