Yowant Technology(SZ:002291)2025-05-20 10:02Financial Performance - The company raised approximately 29.72 million RMB through a private placement in 2021, with a net amount of 29.21 million RMB [2] - As of December 31, 2024, the total investment in fundraising projects amounted to 188.90 million RMB, with 170.86 million RMB utilized from the raised funds [2] - The net profit attributable to shareholders for 2024 was -1 billion RMB, primarily due to high costs from innovative business investments and asset impairments [7][8] Fund Utilization - Out of the remaining unused raised funds, 789 million RMB is temporarily allocated to supplement working capital, while the rest is held in a dedicated account [3] - The company plans to use 22.48 million RMB of surplus funds from the "social e-commerce ecosystem construction project" to permanently supplement working capital [2] Strategic Adjustments - The company has implemented a refined management approach to address cost pressures from previous personnel expansions, aiming to reduce redundancy [3] - A new stock option and restricted stock incentive plan was approved in 2025 to boost employee motivation and align with future profit targets [3] Business Transformation - The company is shifting its innovative business model to a holding or equity participation approach to enhance employee engagement and eliminate inefficiencies [6] - The footwear business revenue for 2024 was 200 million RMB, with a loss of 200 million RMB, prompting a transition to a multi-category, all-channel operational model [14][15] Market Trends and Future Outlook - The live e-commerce market in China is projected to grow, with retail sales reaching 4.3 trillion RMB in 2024, contributing 80% of the e-commerce sector's growth [11] - The company aims to leverage AI technology to enhance operational efficiency and improve cash flow management [6][12] Share Buyback and Investor Confidence - From May 10, 2022, to May 4, 2023, the company repurchased 8,567,491 shares for a total of approximately 151 million RMB, with no new buyback plans currently in place [3][16] - The company acknowledges the need to restore investor confidence through strategic measures and improved financial performance [3][4]