Rongtai health(603579)2024-08-02 08:35Group 1: Sales Performance - During the 618 shopping festival, overall sales for the Rongtai brand remained flat compared to last year, with Douyin's growth falling short of expectations [5] - In the first half of the year, foreign trade exports were slightly weaker than the same period last year, particularly in the Korean market, which showed recovery in Q2 [6] - Domestic sales saw a decline in the second quarter, with online performance during the 618 period also underwhelming [6] Group 2: Consumer Trends - A global trend of consumer downgrade is observed, with increased price sensitivity and reduced willingness to spend on non-essential items [7] - Economic uncertainties, inflation, and income inequality are major factors contributing to this trend [7] Group 3: Operational Insights - Current order levels are low, typical for the July-August off-season, with hopes for a rebound in September due to upcoming holidays [8] - The company has signed a land purchase agreement in Thailand for a new factory, expected to have a production capacity of around 50,000 units, with operations anticipated to start by the end of next year [10] Group 4: Financial Strategies - The actual controller proposed a mid-year dividend of 3.00 CNY per 10 shares, aiming to enhance investor sentiment amid poor market performance [12] - The company has maintained a consistent dividend policy, with cumulative cash dividends nearing 800 million CNY since its listing [15] - There are no current plans to adjust the annual targets despite the challenging economic environment, with hopes for revenue and profit growth in the second half of the year [14]