作为中国火锅行业的标志性品牌，呷哺呷哺在2025年春天交出的这份年报，不仅折射出一个餐饮帝国的黄昏，更揭示了新消费时代传统企业转型的深层困 境。 回顾过往业绩，公司已经连续四年亏损。呷哺呷哺在2019年开始净利下滑，并于2021年转亏，2021年至2023年，该公司分别亏损2.93亿元、3.53亿元、 1.99亿元。 2024 的财报显示，公司2024年收入为人民币47.55亿元，较2023年的人民币59.18亿元有所下降。分部业绩方面，2024年亏损人民币6823.4万元，而2023年 则盈利人民币8791.5万元。税前亏损和年内亏损总额分别为人民币3.89亿元和人民币3.99亿元，相较2023年的人民币1.24亿元和人民币1.99亿元均有所增 加。据此计算，呷哺呷哺近四年累亏12.35亿元至12.55亿元之间。 当创始人贺光启在业绩说明会上坚称"公司实际仍在盈利"时，资本市场的反应却是股价跌破1港元沦为"仙股"，这戏剧性的一幕恰似这个时代的隐喻，在 消费降级的浪潮中，任何脱离现实的商业叙事都将被残酷证伪。 呷哺呷哺的困境始于其引以为傲的扩张神话，2014-2020年间，这家企业以每周新增3家门店的速度疯狂 ...

Core Insights - The company, Yika Co., Ltd., reported a significant increase in revenue and profit for the fiscal year 2024, with total revenue reaching 3.087 billion RMB and a profit of 73 million RMB, marking a growth of over six times compared to the previous year [1] - The overall gross profit margin improved from 18.7% in 2023 to 23.6% in 2024, indicating enhanced operational efficiency [1] Group 1: Financial Performance - Total revenue for 2024 was 3.087 billion RMB, with a gross profit margin increase to 23.6% from 18.7% in 2023 [1] - The profit for the year was 73 million RMB, representing a growth of over 600% year-on-year [1] - In the second half of 2024, gross profit rose by 42.7% to 429 million RMB [1] Group 2: Business Segments - The core business of one-stop payment services generated a GPV of 23.4 trillion RMB, with revenue of 2.686 billion RMB and peak daily transaction volume reaching nearly 60 million transactions [1] - The gross profit margin for payment services in the second half of 2024 increased to 21.6%, leading to a rise in payment gross profit from 92.9 million RMB in the first half to 290 million RMB in the second half [1] - The contribution of value-added services, including merchant solutions and in-store e-commerce, increased from 11.8% in 2023 to 13.0% in 2024, with higher gross margins compared to payment services [1] Group 3: Merchant Solutions and E-commerce - The gross profit margin for merchant solutions remained stable at approximately 87.2%, with annual revenue of 340 million RMB [2] - The company utilized AI algorithms for precise advertising targeting and dynamic creative generation, significantly enhancing conversion rates and achieving industry-leading marketing services [2] - The in-store e-commerce business saw a strategic upgrade, resulting in a doubling of average revenue and profit contributions from merchants, with pre-revenue accounting for about 50% of in-store e-commerce revenue [2] Group 4: Operational Strategy - The company focused on refined operations and extensive AI applications, including tools for automated scene-based store construction, AI content creation, and live streaming planning, which greatly improved operational efficiency [2] - By gradually phasing out less profitable clients and concentrating on large clients, the company enhanced its full-service marketing capabilities and attracted well-known brands in key consumer sectors, leading to a continuous increase in store numbers [2]

智通财经APP获悉，3月28日港股市场，北水成交净买入82.42亿港元，其中港股通(沪)成交净买入55.91 亿港元，港股通(深)成交净买入26.51亿港元。 腾讯(00700)获净买入5.75亿港元。消息面上，育碧成立新游戏子公司，腾讯投资11.6亿欧元，收购25% 股份，公司估值约40亿欧元，新公司持有包括《刺客教条》、《孤岛惊魂》及《虹彩六号》在内的IP系 列。腾讯总裁刘炽平表示，很高兴通过今次投资扩大与育碧的长期合作伙伴关系。 中海油(00883)获净买入2.28亿港元。消息面上，花旗表示，中国海洋石油去年净利润同比增长11%至 1380亿元，较该行预期低约3%。公司宣派末期息66港仙，全年股息达1.4港元，意味着派息率为 44.7%，股息率达7.5%，且公司预期在2025至2027年将保持不低于45%的派息率。该行将中海油今明两 年的盈利预测上调13%及下调3%，主要由于将今年油价预测由每桶60美元上调至67美元。 药明生物(02269)获净买入2312万港元。消息面上，交银国际发表报告指，药明生物24年下半年复苏趋 势明显。管理层指引2025年收入增长12%至15%，持续经营业务增长17%至20% ...

专题：新浪财经上市公司研究院 出品：新浪财经上市公司研究院 作者：昊 3月26日晚，东风汽车集团股份有限公司（以下称"东风集团股份"）发布2024年财报，全年实现营业总收入1061.97亿元，同比增长5.99%，净利润0.58亿元， 同比扭亏为盈。 东风集团股份表示，营收增长主要得益于乘用车业务的收入增加，尤其是自主乘用车及新能源业务的显著提升。 值得注意的是，2024年东风集团股份实现净利润0.58亿，刚刚回到盈亏平衡线，同时在2024年国内乘用车市场全面降价的背景下，公司应收款、存货及周转 天数显著上升，而相应的坏账和减值计提却不增反降，足见全年业绩的"水分"。 由于轩逸、天籁、奇骏、CRV、思域等明星车型销量全线大跌，东风集团股份旗下重点品牌东风日产和东风本田销量继续下滑。更让人担忧的是，今年前两 个月，东风日产和东风本田销量还在加速下行，导致公司乘用车总体销量同比降幅扩大至33%。 然而，即便销售遭遇"开门黑"，东风集团股份仍将2025年全年销售目标设定为300万台，相比2024年190万台的实际销量增长近60%。预定目标最终如何完 成，令人疑惑。 应收和存货显著上升 坏账和减值不增反降 2024年， ...

Core Insights - Nayuki's Tea reported a revenue of 4.921 billion yuan in 2024, a year-on-year decline of 4.7% [1] - The company experienced an adjusted net loss of 919 million yuan, contrasting sharply with a profit of 20.9 million yuan in 2023 [1] - The decline in performance is attributed to a sluggish consumer market, changing customer consumption habits, and intensified industry competition [1] Store Performance - In 2024, Nayuki's Tea closed 121 direct-operated stores, reducing the total from 1,574 in 2023 to 1,453 [2] - The average sales value per order decreased from 29.6 yuan to 26.7 yuan, and the average daily order volume per store fell from 344.3 to 270.5 [2] - The total number of stores increased to 1,798, with 1,453 direct-operated and 345 franchise stores [1][2] Financial Metrics - The net cash generated from operating activities plummeted by 75.7%, down to 202 million yuan [2] - Material costs as a percentage of total revenue rose from 32.9% to 36.8%, while employee costs increased from 27.2% to 29.2%, indicating pressure on cost control [2] - The company reported a total cash and deposits of 2.694 billion yuan, indicating sufficient liquidity for business adjustments and stable development [2] Membership and Engagement - The registered membership reached approximately 103 million, with an increase of 10.5 million from the previous year [2] - Monthly active members grew to 4.8 million, and the monthly repurchase rate improved to 24% [2]

Core Insights - The company reported a 27.1% year-on-year revenue growth for the fiscal year 2024, reaching approximately 15.746 billion yuan, with a gross profit increase of 34.8% to about 1.072 billion yuan [1] - Net profit for the year was approximately 133 million yuan, a significant increase of 161.8% year-on-year, with a net profit margin doubling from 0.4% in 2023 to 0.8% [1] - The company has shown consistent improvement in revenue and profitability, with revenue nearly doubling from 8.174 billion yuan in 2021 to 15.746 billion yuan in 2024 [1] Revenue Breakdown - The company's same-city delivery service order volume grew by over 30% year-on-year, significantly boosting revenue [2] - Revenue from same-city delivery services targeting merchants reached 6.688 billion yuan, a year-on-year increase of 28.1% [2] - The number of active merchants on the platform reached 650,000, a 39% year-on-year growth, with over 7,500 new cooperative stores added [2] Consumer Engagement - Revenue from same-city delivery services aimed at consumers grew by 12.2% to approximately 2.433 billion yuan, with active consumer numbers exceeding 23.41 million [2] - The company launched a one-on-one "exclusive delivery" product, which saw a fourfold increase in order volume [2] Last-Mile Delivery Services - Revenue from last-mile delivery services increased significantly by 32.5% to 6.625 billion yuan [3] - The company supported an average of over 1.5 million orders per day during peak delivery periods [3] - The company is exploring the use of unmanned vehicles for last-mile delivery, with over a thousand active routes nationwide [3]

2024年，世茂在"一体两翼"的发展模式下，促进各业务板块的协同发展。地产保持竞争力，聚焦客户需 求，专心做好产品;物业服务专注品质提升，抢占细分赛道;商业酒店提高经营品质，做好资产运营和客 户体验，加力轻资产输出。全集团不断夯实基本功，打造新的增长点，寻求突破与创变，聚力打造新形 势下以客户为中心的核心竞争力。 为应对市场行情下滑及资源压力，该集团对项目进行分级分类管控，精准、有效铺排资源需求。截至 2024年末，集团在建面积约2,328万平方米，当年竣工面积约为458万平方米。截至2024年12月31日，该 集团旗下拥有约246个项目，共约4,361万平方米(权益前)的土地储备，为集团的未来销售发展提供必要 支持。2024年，世茂继续聚焦保障交付工作，全年实现49座城市、73个项目、136个批次的交付，用行 动兑付企业责任。展望2025年，集团计划在建面积约2,089万平方米，计划竣工面积约239万平方米。在 综合评估土地市场供给和集团现有土储情况后，该集团于本年度未补充任何土储。 智通财经APP讯，世茂集团(00813)公布2024年业绩，营业额约为人民币599.75亿元，较去年微增约 0.9%。年内物 ...

受益于AI（人工智能）相关需求的快速增长及消费电子领域的复苏，公司模拟与电源管理实现营业收 入4.48亿美元，同比增长25.1%；逻辑与射频实现营业收入2.72亿美元，同比增长34.4%。值得一提的 是，公司消费电子市场需求仍相对平稳，该终端营业收入占比达63.0%。 华虹半导体管理层在年报中表示，在新一年中，华虹半导体将坚定推进产能扩张，确保华虹制造项目按 计划进行产能爬坡；持续优化先进"特色IC+功率器件"的工艺及产品组合，提升高价值产品占比；深化 与客户及终端生态伙伴的战略协同，应对中国市场供应链本土化所带来的持续需求提升。 （文章来源：证券日报） 本报讯 （记者张文湘见习记者占健宇）3月27日，华虹半导体有限公司（以下简称"华虹半导体"）披露 2024年全年财报。公告显示，2024年华虹半导体实现销售收入20.04亿美元，第一季度至第四季度销售 收入分别为4.60、4.79、5.26、5.29亿美元，呈逐季增长趋势；此外，公司2024年归母净利润达5810.8万 美元，毛利率为10.2%。 在当前激烈的竞争格局下，特色工艺晶圆代工市场仍面临需求与价格压力。面对严峻的挑战，华虹半导 体坚持致力于差异化技 ...

（图片来源：网络） 出品｜搜狐财经 作者｜李保铭 3月27日夜间，创维集团发布最新的2024年报，营收、公司股权持有人应占溢利双跌。 | | 智能家雷业务 (百万人民币) | 智能系統技術業務 | 新能源業務 | 現代版社主主社 及其他 | | | --- | --- | --- | --- | --- | --- | | 2024 | ~33,469 | 1>8,511 | 20,334 | 2,861 | 65,175 | | 2023 | 30,637 | 10,413 | 23,396 | 4,734 | 69,180 | | 同比 | 9.24% | -18.27% | -13.09% | -39.56% | -5.79% | 财报显示，2024年，创维集团总营业额为650.13亿元，同比下滑5.8%；公司股权持有人应占溢利为5.68亿元，同比下滑46.9%。 从三费情况来看，创维集团2024年销售及分销费用为37.49亿元，同比增长8.6%，一般及行政费用为18.07亿元，同比下滑5.93%，研发费用为20.86亿元，同 比下滑1.93%。 其中， 智能家电业务占大陆市场营业额的43.7%、智能系 ...

Group 1 - The company reported a total revenue of HKD 2.4 billion for the fiscal year 2024, representing a year-on-year growth of 20.0% [1] - Adjusted net profit surged to HKD 180 million, a significant increase of 380.3% year-on-year, with an adjusted net profit margin improving by 5.6 percentage points [1] - Adjusted EBITDA reached HKD 440 million, reflecting a year-on-year growth of 37.3%, indicating strong financial performance across various metrics [1] Group 2 - Gross profit increased to HKD 1.05 billion, marking a year-on-year growth of 23.7%, with a compound annual growth rate of 33.3% over the past three years [1] - The company achieved a compound annual growth rate of 29% in revenue over the last three years, demonstrating effective growth strategies [1] - The company is expanding its service boundaries into emerging fields such as live streaming, micro-short dramas, music, e-commerce, and web novels through the application of digital copyright protection technology [1] Group 3 - The company has partnered with NVIDIA on the Media2 system and launched the DreamMaker platform, which integrates AI creative video production with leading copyright protection and content monetization solutions [2] - This platform enables independent creators to efficiently generate, create, and publish short video content while ensuring compliance with copyright regulations [2] - The company's platform-based business model is maturing and is expected to seize market opportunities during the AI content explosion [2]