RYC(SZ:003010)2024-09-10 09:39Economic Environment and E-commerce Growth - The Chinese economy continues to recover, with a stable overall performance in the first half of 2024, as indicated by a 3.7% year-on-year increase in total retail sales of consumer goods, reaching CNY 23.60 trillion [1] - Online retail sales grew significantly, totaling CNY 7.10 trillion, a 9.8% increase year-on-year, with physical goods online retail sales at CNY 5.96 trillion, up 8.8%, accounting for 25.3% of total retail sales [1] Company Performance - The company achieved a revenue of CNY 78,720.19 million, a 33.08% increase compared to the same period last year, and a net profit of CNY 3,893.51 million, up 72.51% year-on-year [2] - The self-owned brand business saw a revenue of CNY 17,623.43 million, a substantial growth of 67.11%, contributing 22.39% to total revenue [2] - Brand management revenue reached CNY 21,977.65 million, with its revenue share increasing from 11.75% at the end of 2023 to 27.92% [2] Brand Management and Market Strategy - The brand management business has experienced explosive growth, with a revenue increase of 2,091.08% year-on-year, focusing on high-potential industries such as health and wellness [2] - The company is expanding its product lines and enhancing brand value through comprehensive market research and innovative product development [3] Sales Channels and Performance - The company has established a robust online and offline sales network, covering over 20 e-commerce platforms and significant offline channels like Sam's Club and Hema [3] - Online sales continue to grow, with double-digit growth rates on platforms like Tmall, Douyin, and Xiaohongshu, while offline sales increased by 15 times year-on-year [3] Operational Efficiency and Cost Management - The company has optimized its operations, resulting in an 11.13% reduction in management expenses while maintaining revenue growth [4] - AI technology has been integrated into various business processes, enhancing efficiency in customer service, inventory management, and marketing strategies [4] Future Outlook and Strategic Initiatives - The company plans to deepen its presence in emerging platforms like Douyin and Kuaishou, with Douyin sales increasing to 18.66%, up 4.57 percentage points from 2023 [4] - The focus will remain on leveraging digital capabilities and capitalizing on industry trends to strengthen competitive advantages in the health product sector [4]