design and r&d expenses exceed 195 million yuan, jiangnan buyi is serious about design drive
2024-09-22
한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina
this month, jiangnan buyi co., ltd. (stock code: 3306.hk) announced its full-year results for the year ending june 30, 2024 ("fy2024").
the report shows that jiangnan buyi's total revenue in fiscal year 2024 will reach 5.24 billion yuan, an increase of 17.3% or 770 million yuan from 4.47 billion yuan in fiscal year 2023. gross profit will also rise to 3.47 billion yuan, an increase of 19.0% from 2.92 billion yuan in fiscal year 2023. gross profit margin will rise from 65.3% to 66.3%.
in terms of net profit, the net profit for fiscal year 2024 is 850 million yuan, an increase of 36.5% compared with 620 million yuan in fiscal year 2023. among them, the net cash inflow from operating activities is 1.6 billion yuan, an increase of 70.7% from 940 million yuan in the previous year. the board of directors recommends a final dividend of hk$0.86 per ordinary share, totaling approximately 820 million yuan, accounting for 97% of the net profit.
it is worth mentioning that in fiscal year 2024, the design and r&d expenses exceeded 195 million yuan, accounting for 3.7% of revenue, and the expenses increased by more than 16% year-on-year, reflecting the adherence to the "design-driven" strategy.
performance shows resilience, and design and business maintain a dynamic balance
li lin, founder and chief creative officer of jiangnan buyi, said, "business is definitely something to consider, but business is not the only important thing." in the view of the capital market, fashion aesthetics and consumer trends are constantly evolving and iterating with the times. only brands with unique style can continue to attract attention.
according to the latest financial report, the company's mature brand jnby brand revenue increased by 17.1%, accounting for 56.2% of total revenue. the growth brand portfolio increased by 28.7% compared with the same period last year.
at the 24-year full-year performance communication meeting, jiangnan buyi investor relations director qiang yilan said that the brand matrix composed of these three stages of brands can be operated sustainably on a large scale to promote the company's long-term sustainable and healthy development. at the same time, due to the continuous improvement of the company's comprehensive brand power, the overall gross profit margin also increased by 1.0 percentage points to 66.3% in fiscal 2024, and the gross profit margins of online and offline channels increased, of which online increased by 2.4 percentage points year-on-year to 63.8% in fiscal 2024, offline self-operated stores increased by 0.9 percentage points year-on-year to 74.1%, and offline dealer stores increased by 0.4 percentage points year-on-year to 59.3%.
qiang yilan said in her sharing, "jiangnan buyi is a warm and healthy company, and will continue to work hard to build a dual-driven model of design and brand power." at present, jiangnan buyi's fan base still maintains high stickiness. according to statistics based on annual purchases of more than 5,000 yuan, the number of active members exceeds 310,000, and the retail sales contributed in fiscal year 24 are close to 4.5 billion. in qiang yilan's view, jiangnan buyi's multi-brand matrix strategy has also achieved remarkable results, achieving a steady growth of 14% compound growth rate in the past five years, which also confirms the effectiveness and stability of the company's multi-brand scale strategy.
it is worth mentioning that with the large-scale growth of multiple brands, jiangnan buyi is gradually improving its digital capabilities, refined management, and reserving comprehensive capabilities. next, jiangnan buyi will accelerate the brand's digital layout in the omni-retail dimension and cultivate a younger consumer mindset across the board.
it was disclosed that throughout the 24th fiscal year, the number of fans of jiangnan buyi on social platforms continued to maintain a high growth trend, with a total number of fans exceeding 8.97 million (the number of fans in the same period last year was 7.78 million), and the number of fans continued to grow.
deepen esg innovation practices and explore distinctive sustainable development paths
at present, the chinese clothing market shows diversified consumption trends. the influence of local brands in the chinese market continues to increase. the number of people pursuing a good lifestyle continues to grow. the demand for personalized and sustainable products continues to rise. young consumers are increasingly fond of products and brands with strong brand power. the segmented market where designer brands are located has great potential. digital consumption and e-commerce platforms also continue to play an important role in further promoting the new retail model.
in this process, consumers prefer brands they trust more and brands that can bring them quality experiences, causing the segmented market where designer brands are located to show a trend of concentrated competition.
as a chinese designer brand fashion company, jiangnan buyi is still full of confidence in the future. jiangnan buyi revealed that it will continue to consolidate its leading position in the market on the basis of ensuring sufficient cash flow, and is committed to various strategies formulated to create the "jiangnan buyi" lifestyle ecosystem advocated by jiangnan buyi. among them, creating a corporate governance structure that integrates environment, society and governance ("esg"), promoting esg practices, and gradually achieving the 2025 commitments in the field of esg to ensure the sustainable, long-term, healthy and high-quality development of the company's business has become a top priority.
"as a designer brand fashion company, 'creating sustainable fashion with jnby characteristics' is our firm goal." zheng dandan, general manager of corporate public relations at jnby, shared that the company will continue to carry out esg practices in multiple areas including environmental sustainability, product sustainability, talent sustainability and community sustainability, and continuously enrich the vitality of jnby.
in the field of product sustainability, in fy24, the proportion of sustainable raw materials of jnby has increased to 22.4%. by selecting and using a variety of sustainable recycled materials, the utilization rate of fabrics has been maximized and various types of resource waste have been reduced. from the perspective of environmental sustainability, jnby has taken a number of positive measures in its daily business operations, including the continuous implementation of water and electricity conservation measures, reducing energy consumption and carbon emissions; actively exploring the reuse of waste materials to achieve efficient closed-loop management of resources.
rong xijie, a sustainable fabric expert at jnby, said at the communication meeting, "through the application of innovative environmentally friendly fabrics, we can realize the concept of environmental protection throughout every link of the brand and extend environmental sustainability to the entire life cycle of the product." taking the featured project "recycled wool" as an example, rong xijie revealed that in order to solve the problem of waste of scraps, jnby considered whether it could achieve "circular design" when practicing esg, that is, collecting the discarded pieces in the production process and turning them into new materials, changing the original linear "from design to consumption" chain, and realizing a "self-closed loop" on the production side. in the field of talent sustainability, jnby insists on working together from both internal and external directions to promote sustainable development.
it is worth noting that in the process of esg practice, jiangnan buyi has created and continued to promote a long-term and significant project - "making the most of cloth". in the past two years, jiangnan buyi has visited 12 provinces, municipalities and autonomous regions, conducted in-depth research on 34 traditional crafts, developed more than 200 experimental samples, and 1 publication (a new book "making the most of cloth" released this year), and put these traditional fabrics and techniques into the contemporary design context. this has also become an excellent example of the development path of chinese designer brands.
regarding future development plans, jiangnan buyi revealed that whether facing global market challenges or coping with changes in retail formats and consumer behaviors, the company will always remain true to its original aspirations and steadily advance three key strategies: adhering to multi-brand sustainable scale operations, insisting on design-driven, and deepening the fan economy.
from design to business, from user insights to product iteration, in the view of jiangnan buyi, which has turned over a chapter of 30 years, behind this is not only the advancement of consumer demand, but also the huge imagination space for the development of the market segment, and more importantly, the opportunities and challenges of the brand. "we hope to explore beyond profits on the basis of achieving healthy and long-term growth." the company's chief financial officer fan yongkui said that embracing changes and every possibility of continuous exploration is the original intention of jiangnan buyi that has never changed since its founding, and it is also the core of future sustainable development.
author: zhang tianchi
text: zhang tianchi editor: zhou yuan editor-in-chief: rong bing
please indicate the source when reprinting this article.
