HOLIKE(603898)2024-08-30 08:15Group 1: Financial Performance - In the first half of 2024, the company achieved revenue of 923 million yuan, a year-on-year decrease of 5.06% [2] - The net profit attributable to shareholders was 45 million yuan, down 46.90% year-on-year, while the net profit excluding non-recurring items was 30 million yuan, a decrease of 48.85% [2] - The decline in performance is attributed to three main factors: pressure from the real estate market, increased operational costs due to transformation efforts, and higher incentive expenses from the employee stock ownership plan [2] Group 2: Strategic Initiatives - The company is focusing on brand enhancement by positioning its existing brands in the mid-to-high-end market and has signed Chen Kun as the global brand ambassador [3] - A commitment to full-channel operations aims to strengthen retail, expand integrated solutions, and optimize engineering projects, with integrated channel revenue growing over 130% year-on-year [4] - Continuous product upgrades are being implemented to enhance market research and customer demand analysis, improving product quality and performance [4] Group 3: Operational Adjustments - The company closed 197 underperforming stores in the first half of the year to reduce operational risks and is expected to improve store quality in the second half [5] - The cash flow faced pressure due to changes in channel structure, with retail channels declining while bulk channels grew, leading to differences in payment collection timing [8] - The company is actively adapting to the growing demand in the existing housing market by enhancing its integrated solutions and collaborating with decoration companies [10] Group 4: Future Outlook - The company aims to balance revenue and profit by focusing on market share growth and enhancing its core competitiveness through a full-category, full-channel system [14] - The overall gross margin remains stable, with the proportion of integrated home orders steadily increasing [15] - The company plans to continue leveraging its strengths in the integrated channel to maintain high growth in performance [13]