汇嘉时代20250408

Summary of Huijia Times Conference Call Company Overview - Company: Huijia Times - Year: 2024 Key Points Industry and Company Performance - Overall operating performance in 2024 is expected to decline compared to 2023, with a slight decrease in revenue but a significant drop in profit due to external market conditions [3][4] - The company has adjusted its operational plan for 2024, focusing on supply chain reforms and cost optimization [3] Supply Chain and Operational Adjustments - In the supermarket sector, the company is accelerating supply chain upgrades, streamlining SKU numbers to 8,000-9,000, and optimizing supplier structures [3][4] - The supermarket sector has transitioned to a fully self-operated model, while the department store sector is enhancing self-operated business by introducing exclusive brands like LEGO [3][4] - Collaboration with Dentsu Group on shared warehousing has improved gross margin by 2-3 percentage points and increased sales and repurchase rates through competitive pricing [6][7] Pricing and Market Positioning - Post supply chain switch, product prices in supermarkets have significantly decreased, aligning with competitors like Haokangxiang, shifting consumer perception from premium to competitive pricing [8] - The company plans to enhance its self-owned brand portfolio, expanding into categories like bottled water and beverages [11] Brand Adjustments and New Introductions - In 2024, the company introduced 27 new brands and adjusted over 700 brands, focusing on department store formats [14] - The strategy for older department stores includes a tailored approach to meet local consumer needs [4][14] Future Outlook and Financial Strategy - The company anticipates a steady increase in gross margin in 2025, driven by the expansion of self-operated businesses and exclusive brand partnerships [11] - A commitment to stable dividends has been established, with future distributions dependent on overall business performance [30] Competitive Landscape - The local commercial environment in Xinjiang is favorable, with strong consumer purchasing power and less intense competition compared to inland markets [24] - The company aims to leverage regional characteristics and enhance its own product system while learning from successful management practices [19] Low-altitude Economy Initiatives - The company is collaborating with Tongxingda to develop low-altitude business opportunities in the Xinjiang Production and Construction Corps region, focusing on logistics, rural tourism, and agricultural quality assurance [25] Adjustments and Future Plans - The company has completed product replacement efforts and will continue to enhance its self-owned product system in 2025 [20] - Plans for store adjustments are ongoing, with a focus on improving service quality and product offerings [18] Financial Performance - The first quarter of 2025 shows improved performance compared to the same period in 2024, with steady growth in supermarket revenue despite challenges in the department store sector [22][23] Conclusion - Huijia Times is navigating a challenging market environment with strategic adjustments in supply chain management, brand positioning, and operational efficiency, while maintaining a focus on long-term growth and profitability.