乐歌股份：公司2024年末海外仓面积66.21万平方米

Core Viewpoint - The impact of leasing standards on financial metrics is significantly influenced by the actual leased area, with a notable increase in overseas warehouse space expected by the end of 2024 compared to 2023, leading to a substantial rise in leasing liabilities [1] Group 1: Financial Metrics - By the end of 2024, the overseas warehouse area is projected to reach 662,100 square meters, a more than 100% increase from 289,600 square meters at the end of 2023 [1] - The increase in leased area will result in a significant rise in leasing liabilities for the company [1] Group 2: Profitability Concerns - The initial phase of opening new warehouses is expected to lower overall profit margins due to ramp-up costs [1] - Factors such as FedEx's price increases are anticipated to negatively impact the profitability of overseas warehouses [1] - The strategic losses incurred during the early stages of new business development have contributed to performance falling short of expectations [1]