Ruoyuchen (003010.SZ) released its semi-annual report: revenue increased steadily in the first half of the year
2024-08-22
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On the evening of August 22, Ruoyuchen (003010.SZ) disclosed its 2024 semi-annual report. During the reporting period, the company's operating income was 787 million yuan, a year-on-year increase of 33.08%; the net profit attributable to shareholders of the listed company was 39 million yuan, a steady increase compared with the same period last year.
Brand management, private brands and agency operations have all achieved healthy development. Among them, the brand management business achieved rapid growth, with operating income of 220 million yuan, and the revenue share increased from 11.75% at the end of 2023 to 27.92%; the private brand achieved operating income of 176 million yuan, a year-on-year increase of 67.11%, and the proportion of the company's total operating income increased to 22.39%. The agency operation business maintained a steady pace, with the company's Taobao accounted for 52.43% in the first half of the year. The business capabilities on multiple ecological platforms such as Douyin and Xiaohongshu were further strengthened. Through the refined management of the business, the gross profit margin and business health were further improved.
Source: Visual China
Brand management is expanding rapidly and business structure is developing healthily
In recent years, the entire e-commerce industry has entered a stage of resilient development. Ruoyuchen actively embraces change, gives full play to its resource and capability advantages, selects and introduces high-quality consumer brands and products, and quickly deploys brand management business. In the first half of 2024, the company's brand management business saw significant growth, with operating income reaching 220 million yuan, and the proportion of revenue jumped from 11.75% at the end of 2023 to 27.92%, further driving the company's business growth and the healthy development of its business structure.
Relying on the company's deep understanding of the Chinese consumer market over the years and its strong brand incubation and management capabilities, many general agent brand businesses have quickly passed the cold start stage and achieved fruitful results. Brands such as Johnson & Johnson Aveeno and Bayer Kangwang have achieved sales growth across all channels.
The company's own brand product lines continue to expand, creating multiple growth poles for performance
The revenue of the company's own brand reached 176 million yuan in the first half of 2024, a year-on-year increase of 67.11%, accounting for 22.39% of the company's overall revenue. The second growth curve has been growing steadily.
During the reporting period, the product line of Zhanjia has been continuously enriched, from the clothing and care line to the environmental cleaning line, professional disinfection and sterilization line, environmental fragrance line and body personal care line, covering multiple family scenarios. Its products such as Four Seasons Flower Enzyme Fragrance Laundry Detergent, Underwear Laundry Detergent, Eucalyptus Leaf Essential Oil Laundry Gel Beads and Eucalyptus Leaf Essential Oil Floor Washer have long been ranked at the top of the praise list, hot-selling list and best-selling list of each platform's sub-category.
In terms of channel layout, Zhanjia has made efforts both online and offline. Online channels such as Tmall, Douyin, JD.com, and Xiaohongshu have maintained double-digit growth; offline, through differentiated products and product combination strategies, it has achieved strong growth in high-quality channels such as Sam's Club and Hema, with offline revenue increasing 15 times year-on-year in the first half of 2024.
In the healthy development, Zhanjia has achieved a double harvest of performance and brand reputation. In the first half of 2024, Zhanjia won the "Best New Brand Award" in the Golden Wheat Award, known as the "Oscar of E-commerce", and won the Future Marketing "2024 Consumer Favorite Brand". In addition, Zhanjia brought its star products to the Shanghai "55 Shopping Festival", connecting consumers with high-quality products, stimulating consumption potential with diversified interactive forms, and injecting more momentum into economic development. Zhanjia has been selected in the TOP50 of Shanghai's new online consumer brands for two consecutive years.
High-quality development of business and team, and improvement of quality and efficiency of operation and management
In the first half of 2024, Ruoyuchen will continue to focus on improving the quality and efficiency of its business, actively promote the implementation of new technologies in daily operations, empower platform operations, customer service operations, inventory control and supply chain management with digital means, and provide new quality productivity for the development of full-link businesses.
The company further deepened the application of AI technology in daily business development. In page production, AI technology is used to analyze efficient information display models, assist in the production of image materials, and improve labor efficiency and communication efficiency; in operation management, through the implementation of intelligent recommendation, intelligent search and intelligent customer service functions, the accuracy of services is improved; in commodity management, AI technology is used to assist in the formulation of procurement plans, optimize delivery links and warehousing networks, effectively avoid the cost increase caused by inventory accumulation, and improve inventory turnover and logistics efficiency. In the first half of the year, the company's warehousing and logistics costs decreased by 9.92% year-on-year.
The construction of a talent team is also accelerating the improvement of the quality and efficiency of the overall business. Ruoyuchen vigorously develops the "North Star Plan", deepens the mentor system, enriches internal promotion channels, promotes cross-departmental collaboration and knowledge exchange, and empowers employee capacity growth and company organization construction. Under the premise of revenue growth, in 2024, the company's management expenses decreased by 11.13% year-on-year.
Shi Wen
