By-health(SZ:300146)2024-09-06 12:11Group 1: Industry Trends and Company Strategy - The overall direction of industry development is towards standardization, with stricter management of offline pharmacies being a significant trend [2] - The company is actively promoting the iteration and upgrade of its core products, protein powder and Jianli Duo, which may create short-term uncertainties affecting operations [2] - The company plans to focus resources on structural adjustments for its core brands and enhance brand boundaries to release R&D and production potential [2] Group 2: Revenue and Cost Management - In the first half of 2024, offline channel revenue accounted for approximately 57%, while online channels accounted for about 43% [3] - The company aims to control the annual sales expense ratio within 45%, despite uncertainties in the rapidly changing online environment [3] - Cumulative cash dividends since the company's listing have exceeded 70% of the net profit attributable to shareholders, indicating a commitment to a stable profit distribution policy [3] Group 3: Digital Strategy and Future Investments - The company established a digital committee in the first half of 2024 to oversee the design and implementation of its digital strategy, targeting core objectives for the next three to five years [3][4] - Future capital expenditures will primarily focus on fundraising investment projects [4]