Core Points - The company held its 2024 Annual General Meeting to discuss various proposals and reports, including the confirmation of related party transactions and financial reports for 2024 and 2025 [1][3][26] - The company reported a net profit of 115.67 million yuan for 2024, representing a year-on-year increase of 17.18% [3][4] - The company plans to enhance its supply chain and operational efficiency while focusing on customer service and product quality in 2025 [12][14] Meeting Procedures - The meeting will combine on-site and online voting, with the on-site meeting scheduled for May 26, 2025, at 14:00 [2][5] - Shareholders have the right to ask questions and express their opinions during the meeting, with a time limit of five minutes per shareholder [2][5] - The meeting will include the signing of relevant documents by attending directors [3][5] Financial Performance - The company achieved a stable revenue growth through store upgrades and efficiency improvements, with comparable store traffic increasing by an average of 7.7% [4][6] - The company opened 140 new stores during the reporting period, including 49 direct-operated and 91 franchised stores [6][8] - The company’s online sales grew by 13.2%, contributing to a total of 3.31 million in-store visits, with a conversion rate of 40% [4][6] Governance and Compliance - The company’s board of directors and supervisory board operated independently, ensuring compliance with relevant laws and regulations [8][20] - The supervisory board conducted 11 meetings in 2024, focusing on compliance, financial status, and the performance of directors and senior management [20][21] - The company maintained a robust internal control system, ensuring the legality and compliance of its operations [22][21] Industry Trends - The retail industry is experiencing steady growth despite challenges such as economic slowdown and increased competition [11] - The government is prioritizing consumer spending, which is expected to drive growth in the retail sector [11] - Retailers are adapting to changing consumer demands by optimizing their business models and enhancing store experiences [11]