SFY(002572)2024-04-30 10:47Financial Performance - In Q1 2024, the company achieved operating revenue of 2.111 billion CNY, a year-on-year increase of 16.98% [2] - Net profit attributable to shareholders was 165 million CNY, up 58.59% year-on-year; net profit after deducting non-recurring gains and losses was 156 million CNY, a 73.81% increase [2] - The weighted average return on net assets was 2.35%, an increase of 0.56% year-on-year [2] - Cash flow from operating activities decreased by 629.15% due to changes in sales assessment criteria [2] Expense Overview - Sales expenses for Q1 2024 amounted to 214 million CNY, with a sales expense ratio of 10.14% [2] - Management expenses were 169 million CNY, with a management expense ratio of 8.01% [2] - R&D expenses reached 87 million CNY, a year-on-year increase of 10.58%, with an R&D expense ratio of 4.14% [2] - Financial expenses decreased by 99.20% year-on-year [3] Strategic Development Plans - The company aims to pursue more growth opportunities in 2024 through a "multi-brand, all-channel, all-category" strategy [3] - Plans to expand product categories, focusing on cabinets, wooden doors, and furniture [3] - Continued strengthening of channel store construction and partnerships with cooperative decoration companies [3] - The new brand Milan will maintain a rapid store opening model to cover lower-tier markets [3] Market Expansion and Business Model - The company will focus on optimizing the structure of bulk business clients and exploring opportunities in the stock housing market [4] - Plans to enhance the integration of the decoration channel through a dual model of dealer decoration and direct decoration [4] - The company is currently refining its marketing model for stock housing and has established an innovation development department for this purpose [4]