ELLASSAY(603808)2024-04-29 10:41Financial Performance - The company's revenue for Q1 2024 was CNY 748,548,486.02, representing a 12.47% increase compared to CNY 665,561,700.60 in the same period last year[4]. - Net profit attributable to shareholders decreased by 38.25% to CNY 29,194,964.40 from CNY 47,275,662.16 year-on-year[4]. - Basic earnings per share decreased by 38.46% to CNY 0.08 from CNY 0.13 in the previous year[4]. - Operating profit for Q1 2024 decreased to ¥61,927,268.78, down 19.4% from ¥76,815,217.52 in Q1 2023[24]. - Net profit for Q1 2024 was ¥62,282,641.72, compared to ¥75,022,602.19 in Q1 2023, indicating a decline of 17.0%[24]. - Total comprehensive income for Q1 2024 was CNY 44,298,546.78, significantly lower than CNY 96,600,554.05 in the same period last year, marking a decrease of 54.1%[26]. Cash Flow - The net cash flow from operating activities was CNY 109,343,501.16, down 16.2% from CNY 130,489,167.98 in the previous year[4]. - Operating cash flow for Q1 2024 was CNY 109,343,501.16, down from CNY 130,489,167.98 in Q1 2023, reflecting a decline of 16.2%[30]. - The company reported cash inflows from operating activities totaling CNY 857,077,779.55, compared to CNY 721,714,248.52 in the previous year, an increase of 18.7%[30]. - Cash outflows from operating activities were CNY 747,734,278.39, up from CNY 591,225,080.54, indicating a rise of 26.5%[30]. - Cash and cash equivalents rose to ¥608,378,253.13 as of March 31, 2024, compared to ¥585,395,623.67 at the end of 2023, an increase of 3.4%[20]. - Cash and cash equivalents at the end of Q1 2024 increased to CNY 585,295,902.21 from CNY 497,699,057.74, showing a growth of 17.6%[31]. Store Operations - The company opened 12 new stores during the reporting period, increasing the total number of stores to 655, while closing 9 stores[10]. - The total number of stores increased from 652 at the end of 2023 to 655 at the end of the reporting period, with 12 new openings and 9 closures[12]. - The company plans to continue expanding its store network and enhancing its online sales channels to drive future growth[12]. Revenue Breakdown - The domestic revenue growth was approximately 20%, driven by strong performance from brands such as ELLASSAY, Laurèl, and IRO, which grew by 29%, 40%, and 21% respectively[10]. - Overseas revenue declined by about 20% due to macroeconomic factors such as inflation and geopolitical issues[10]. - Direct store revenue reached CNY 633.01 million with a gross profit margin of 69.75%, an increase of 24.93% year-over-year[13]. - Online sales accounted for 15.20% of total revenue, generating CNY 112.93 million with a gross profit margin of 60.62%[14]. - The ELLASSAY brand generated CNY 305.85 million in revenue, with a gross profit margin of 67.86%, but a decrease of 2.96 percentage points compared to the previous year[12]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,509,473,042.69, a decrease of 2.43% from CNY 4,621,989,751.92 at the end of the previous year[5]. - Total current assets as of March 31, 2024, amounted to ¥2,011,797,431.03, a decrease of 3.0% from ¥2,073,890,394.49 as of December 31, 2023[20]. - Total non-current assets decreased to ¥2,497,675,611.66 as of March 31, 2024, down from ¥2,548,099,357.43 at the end of 2023, a decline of 2.0%[21]. - Total liabilities as of March 31, 2024, were ¥1,398,746,971.33, down from ¥1,562,407,715.34 at the end of 2023, reflecting a decrease of 10.5%[22]. - Total equity increased to ¥3,110,726,071.36 as of March 31, 2024, compared to ¥3,059,582,036.58 at the end of 2023, an increase of 1.7%[22]. Financial Expenses - The company's financial expenses increased by 43.44% primarily due to increased exchange losses[11]. - The overall cost of goods sold for the first quarter was CNY 241.40 million, reflecting a 13.83% increase from the previous year[13]. - Total operating costs for Q1 2024 were ¥688,331,895.04, up from ¥606,709,150.49 in Q1 2023, reflecting a year-over-year increase of 13.4%[24].