FIYTA(000026)2024-12-12 10:09Financial Performance - In the first three quarters of 2024, the company achieved operating revenue of 3.039 billion yuan, a decrease of 13.82% year-on-year [1] - The net profit attributable to shareholders was 197 million yuan, down 25.58% compared to the same period last year [1] - The net cash flow from operating activities for the first three quarters of 2024 was 317 million yuan, a decline of 33.75% year-on-year [8] Market Challenges - The domestic consumption market continues to face challenges, with consumer confidence remaining low, impacting the watch market [1] - The export value of the Swiss watch industry to mainland China has significantly declined this year [1] Strategic Adjustments - The company plans to enhance its watch business through improved brand resource acquisition, product and brand structure adjustments, and channel operation efficiency [2] - Focus will be placed on strategic emerging industries such as precision technology and smart wearables to explore new growth points [2] Sales Network and Channel Performance - The company emphasizes the quality of channel operations over the quantity, optimizing store structures and improving operational efficiency [2] - The "Hengjili" luxury watch offline store count is approximately 200, while the "Feiyada" self-owned brand has over 2000 offline stores [2] Research and Development - In the first three quarters of 2024, R&D expenses amounted to 42.78 million yuan, primarily for product innovation and development of key components [8] ESG and Sustainability - The company has disclosed its social responsibility report for 16 consecutive years and upgraded to an ESG report in 2024 [5] - Future efforts will focus on enhancing ESG governance and continuing to fulfill social responsibilities [5] Asset Management - The company has been repurchasing B shares since 2019, with a total expenditure of approximately 279.14 million HKD for repurchasing and canceling about 41.06 million B shares [8] - Current property assets are recorded at historical cost without market value reassessment [9]