Yowant Technology(SZ:002291)2022-12-08 06:44Group 1: Company Performance - The company's revenue decreased by 2% in the first half of the year due to channel restructuring and the closure of inefficient stores [2] - Profitability improved mainly due to an increase in product gross margin, driven by higher sales prices and better control of discount rates [2] - Inventory turnover is expected to improve as the company aims to increase sales revenue, with inventory structure showing improvement [2] Group 2: E-commerce Development - E-commerce revenue reached 120 million RMB in the first half of the year, representing an 84.4% increase compared to the same period last year [3] - The company does not plan to build its own platform due to high costs, opting instead to collaborate with major e-commerce platforms [3] - The company aims for e-commerce to achieve no less than 50% growth for the year [3] Group 3: Brand Structure and Production - The company owns seven proprietary brands and represents two Italian brands, with a focus on fashion positioning [4] - The current self-production ratio is between 30% and 40%, with plans to maintain this level while focusing on brand promotion and sales channels [4] Group 4: Market Strategy and Future Plans - Despite a slowdown in growth, the women's shoe industry is still expanding, and the company is exploring new channels and business models [5] - The company plans to continue optimizing its store network, closing underperforming stores while maintaining a focus on department stores as the main sales channel [6] - The company is open to acquisition opportunities that align with its core business and enhance synergy [6] Group 5: Financial Health - The company's cash flow net amount has significantly increased compared to the same period last year, indicating improving cash flow conditions [5] - Plans to expand financing channels through short-term financing bonds and non-public debt financing tools are in place to optimize the debt structure [5]