Zhong Guo Jing Ji Wang·2025-05-23 02:57Core Viewpoint - Guoguang Chain's 2024 annual report indicates a significant decline in net profit despite an increase in revenue, highlighting potential operational challenges for the company [1][2]. Financial Performance Summary - The company achieved an operating revenue of 2.688 billion yuan in 2024, representing a year-on-year growth of 11.43% compared to 2.411 billion yuan in 2023 [2]. - The net profit attributable to shareholders was 2.670 million yuan, a decrease of 81.62% from 14.524 million yuan in the previous year [2]. - The net profit after deducting non-recurring gains and losses was -10.530 million yuan, down 1,768.14% from 631,280 yuan in 2023 [2]. - The net cash flow from operating activities was 136 million yuan, a decline of 41.45% from 232 million yuan in the previous year [2]. Q1 2025 Performance - In the first quarter of 2025, the company reported an operating revenue of 796 million yuan, reflecting a year-on-year increase of 5.23% [3]. - The net profit attributable to shareholders for Q1 2025 was 2.175 million yuan, down 18.07% from 26.547 million yuan in the same period last year [3]. - The net profit after deducting non-recurring gains and losses was 1.986 million yuan, a decrease of 21.55% compared to 25.319 million yuan in Q1 2024 [3]. - The net cash flow from operating activities for Q1 2025 was 139 million yuan, an increase of 19.43% from 116 million yuan in the previous year [3]. Company Background - Guoguang Chain was listed on the Shanghai Stock Exchange on July 28, 2020, with an issuance of 49.58 million shares at a price of 4.65 yuan per share [3]. - The total amount raised from the initial public offering was 230.547 million yuan, with a net amount of 188.516 million yuan after deducting issuance costs [4]. - The raised funds are allocated for chain store construction, renovation projects, logistics center upgrades, and information system improvements [4].