Core Viewpoint - The financial performance of the woodworking brand Tan Mu Jiang (00837) has shown a significant slowdown in growth for the fiscal year 2024, with a slight increase in revenue but a decline in profit [1][2]. Financial Summary - For the fiscal year ending December 31, 2024, the company reported revenue of 505.44 million RMB, a year-on-year increase of 1.2% [2]. - The profit attributable to the company's owners was 171.37 million RMB, down 1.4% from the previous year [2]. - The gross profit increased by 1.4% to 305.20 million RMB, while the pre-tax profit rose by 1.5% to 212.93 million RMB [2]. - Basic earnings per share decreased by 1.4% to 68.90 RMB cents [2]. - The final dividend per share was 36.63 HKD cents, a decrease of 5.2% compared to the previous year [2]. Business Performance - The offline business showed relative stability, with a 2.7% increase in revenue, although direct store revenue fell by 4.3% to 4.46 million RMB [1]. - Online sales faced challenges, with a 0.9% decline to 210 million RMB, attributed to overlapping holiday seasons and lack of participation in major sales events [1][3]. - The company executed 13 marketing campaigns in 2024, but sales during the Valentine's Day campaign dropped significantly by 61.07% year-on-year, indicating a need for adjustment in marketing strategies [3]. Market Position - The company's high-end pricing strategy is under market scrutiny, with some consumers perceiving its products as overpriced compared to ordinary brands [3]. - Despite some recognition for product durability, overall market feedback has been mixed, suggesting a need for improved value perception [3]. - As of April 17, 2025, the stock price was 5.71 HKD per share, down from a peak of 6.78 HKD per share on March 27, 2025, with a total market capitalization of 1.42 billion HKD [3].
谭木匠2024年净利润下滑，高价策略遇挑战