LONCIN(603766)2024-05-10 09:21Financial Performance - In 2023, the company achieved operating revenue of 13.066 billion CNY, a year-on-year increase of 5.29% [3] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was 642 million CNY, up 35.71% year-on-year [3] - Self-owned brand revenue grew by 31.52%, accounting for 23.66% of total operating revenue, an increase of 4.73 percentage points [3] - In Q1 2024, operating revenue reached 3.296 billion CNY, a year-on-year increase of 20.41% [3] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was 247 million CNY, a 60.70% increase year-on-year [3] Motorcycle Industry Overview - In 2023, the motorcycle industry sold 18.99 million units, a year-on-year decline of 11.34% [4] - Domestic motorcycle sales were 10.6739 million units, down 22.51% year-on-year [4] - Export market sales reached 8.3168 million units, a year-on-year increase of 8.79% [4] - In Q1 2024, motorcycle sales were 4.1823 million units, a year-on-year decline of 13.97% [4] High-Displacement Motorcycle Business - In 2023, the company's VOGE series products generated sales revenue of 1.492 billion CNY, a year-on-year increase of 57.05% [5] - The VOGE brand accounted for 20% of the motorcycle business revenue, with domestic sales revenue of 843 million CNY, up 33.81% [5] - Export sales revenue for VOGE products was 649 million CNY, a significant increase of 102.81% [5] - In Q1 2024, VOGE products achieved sales revenue of 604 million CNY, a year-on-year increase of 135.21% [5] Channel Development - In 2023, the VOGE brand added 194 sales outlets, bringing the total to 1,334 [6] - Nearly 40 new image stores were opened in the domestic market, with a total of 470 stores established [6] - The company has built 864 channels in foreign markets, with nearly 700 in Europe, achieving near-total coverage in the region [6]