MCLON(SZ:300945) Xin Lang Cai Jing·2025-09-01 07:08Financial Performance - In H1 2025, the company achieved revenue of 1.556 billion yuan, a year-on-year increase of 26.79%, and a net profit attributable to shareholders of 77 million yuan, up 35.18% year-on-year [1] - In Q2 2025, the company reported revenue of 841 million yuan, a year-on-year increase of 15.73%, and a net profit attributable to shareholders of 34 million yuan, up 37.36% year-on-year [1] - The company plans to distribute a cash dividend of 0.6 yuan per 10 shares, with a total cash dividend amounting to approximately 15.72 million yuan [1] Online Channel Development - The company’s e-commerce revenue reached 868 million yuan in H1 2025, a year-on-year increase of 30%, accounting for 55.8% of total revenue, up 1.4 percentage points [2] - The company has expanded its online presence by collaborating with various channels, including traditional e-commerce platforms and interest-based platforms like Kuaishou, which generated 394 million yuan in revenue, representing 45% of e-commerce income [2] Offline Channel Strategy - The company is implementing a strategy of "adjusting structure within the province and expanding scale outside the province," enhancing the operational capabilities of offline stores [3] - In H1 2025, revenue from self-operated stores was 197 million yuan, up 59.34% year-on-year, while revenue from counters and franchises increased by 14.87% and 11.42%, respectively [3] - The company has expanded its store network significantly, with 78% of new stores located outside its home province, totaling 247 stores by the end of H1 2025 [3] Profitability and Cost Control - The gross margin for H1 2025 was 13.52%, a year-on-year increase of 0.05 percentage points, with notable improvements in profitability [4] - The company’s net profit margin for H1 2025 was 4.93%, up 0.31 percentage points year-on-year, indicating enhanced cost control and operational efficiency [4] Brand and Product Strategy - The company focuses on the jewelry sector, targeting a younger demographic with various product lines, including the Fenghua series and the Butterfly series [5] - The company is enhancing its brand influence through collaborations and innovative marketing strategies, such as partnerships with cultural brands and leveraging digital management tools [6] Future Growth Projections - The company has adjusted its revenue forecasts for 2025-2027, expecting revenues of 3.07 billion, 3.92 billion, and 4.87 billion yuan, respectively, with net profits projected at 135 million, 178 million, and 225 million yuan [7]