SFY(SZ:002572)2024-11-01 10:28Financial Performance - For the first three quarters of 2024, the company achieved a revenue of 7.656 billion CNY, a year-on-year decrease of 6.64% [1] - The net profit attributable to shareholders was 922 million CNY, down 3.24% year-on-year [1] - In Q3 2024, the revenue was 2.726 billion CNY, with a net profit of 357 million CNY [1] - The overall gross margin improved to 35.79%, an increase of 0.17% year-on-year [1] Brand Performance - The Sofia brand had 1,805 dealers and 2,543 specialty stores, generating 6.890 billion CNY in revenue, a decline of 6.84% [1] - The average order value for Sofia brand was 23,679 CNY [1] - The Milan brand had 554 dealers and 579 specialty stores, achieving 367 million CNY in revenue, a growth of 14.87% [2] - The average order value for Milan brand was 14,731 CNY [2] - The Simi brand had 156 dealers and 161 specialty stores [2] - The Huahai brand had 275 dealers and 282 specialty stores [2] Cost Management - For the first three quarters of 2024, sales expenses were 735 million CNY, down 8.85%, with a sales expense ratio of 9.60% [2] - Management expenses were 530 million CNY, a decrease of 1.91%, with a management expense ratio of 6.92% [2] - Financial expenses were -6 million CNY, with a financial expense ratio of -0.08% [2] Market Strategy - The company is actively participating in the "old-for-new" subsidy policy, launching nationwide marketing activities to stimulate consumer demand [3] - The company has established partnerships with leading renovation companies to enhance the integration of supply chains [3] - The company has 31 overseas dealers covering countries such as the USA, Canada, Australia, Singapore, Vietnam, and Thailand, providing customized solutions to approximately 40 countries and regions [4]