Fuanna(SZ:002327)2024-10-29 10:49Group 1: Financial Performance - In Q3 2024, the company achieved a revenue of 579 million CNY, a year-on-year decrease of 11.21% [2] - Net profit attributable to shareholders was 75.18 million CNY, down 40.78% year-on-year [2] - Net profit excluding non-recurring gains and losses was 68.03 million CNY, a decrease of 39.93% compared to the previous year [2] Group 2: Market Challenges - The overall economic environment is gradually improving, but the consumer goods sector, especially the textile and apparel industry, still faces significant challenges [2] - The company is actively adjusting and optimizing its product structure and improving internal management efficiency to cope with market changes [2] Group 3: Cost and Investment Insights - The decline in profit is primarily due to increased sales expenses, particularly in advertising and store renovation costs [2] - Investment income decreased by 13 million CNY compared to last year, attributed to a reduction in structured deposits and an increase in large-denomination certificates of deposit [3] Group 4: Government Subsidies and Future Plans - The company expects a decrease in government subsidies due to fewer applied projects this year [3] - The company plans to maintain a consistent dividend policy to provide stable returns to investors, barring any major unforeseen circumstances [3] Group 5: Sales and Market Distribution - Direct stores account for approximately 23% of total revenue, while franchise stores contribute about 27% [4] - The company observed signs of recovery in sales in October compared to previous months, although year-on-year comparisons still show pressure [4] Group 6: Product and Inventory Management - Inventory increased by about 10% compared to the same period last year, mainly due to preparations for winter products [3] - The company has completed production and storage of related products, with raw material purchases made at lower prices since last year [4]