YIWU CCC(600415) 新浪财经·2025-04-10 10:44Core Viewpoint - The company achieved strong growth in 2024, with record-high revenue and profit driven by core business recovery and new business contributions, particularly in Q4 [2][6]. Financial Performance - In 2024, the company reported operating revenue of 15.737 billion yuan, a year-on-year increase of 39.27%, and a net profit attributable to shareholders of 3.074 billion yuan, up 14.85% year-on-year [1]. - The company's Q4 revenue reached 5.124 billion yuan, reflecting a 50.98% year-on-year growth, while net profit for the quarter surged by 107.17% to 745 million yuan [1][2]. - The overall gross margin for the year was 31.39%, an increase of 4.89 percentage points year-on-year, while the net margin was 19.5%, down 4.7 percentage points year-on-year [1][2]. Business Growth Drivers - The revenue growth was supported by market recovery, accelerated AI application, and increased cross-border payment volumes, with significant contributions from the Chinagoods platform and YiwuPay [2][4]. - The company’s core business showed robust growth, with daily foot traffic at Yiwu International Trade City averaging 224,300 visitors, a 12.15% increase year-on-year [3]. Digital Transformation and Innovation - The Chinagoods platform evolved into a comprehensive digital trade infrastructure, with over 4.8 million registered merchants and a net profit increase of 102.05% to 165 million yuan [4]. - The platform introduced AI tools that significantly improved cross-border conversion efficiency for small and medium-sized merchants, indicating a shift towards a replicable light SaaS business model [4]. Cross-Border Payment and Brand Expansion - The company’s cross-border payment platform, 快捷通, processed over 4 billion USD in payments, a 233% increase year-on-year, achieving a net profit of 61.04 million yuan [5]. - The company expanded its international presence with 23 new overseas projects and established two new warehousing exhibition centers in Dubai and Ho Chi Minh City, enhancing its global service network [5]. Future Outlook - The company is expected to maintain stable growth in its core business, supported by ongoing reforms and digital transformation, with projected net profits of 4.259 billion yuan, 5.382 billion yuan, and 6.452 billion yuan for 2025-2027 [6].