On November 12, 2024, disclosed the reception investigation announcement, the company received Guosheng Securities, Huatai Berry Fund, Agricultural Bank of China Huili Fund on November 11th Three institutions investigations.
Announcement shows that a total of 1 person in Hollying guests participated in the reception, Gan Guoqiang, secretary of the board of directors of the Hiroshiro.
It is understood that the performance of Hollying guests in the first three quarters of 2024 showed that operating income and net profit have declined, and operating income was 1.444 billion yuan, a year -on -year decrease of 11.24%, and returned The net profit of the mother was RMB 9,096,600, a year -on -year decrease of 48.94%.In the third quarter, the operating income and net profit of returning home decreased by 20.43%and 50.79%year -on -year, respectively.The reasons for the pressure of performance include the recovery of the home retail market and the increase in incentive expenses caused by the employee holding plan.Nevertheless, the companys financial situation and operating situation remain healthy, and the gross profit margin of the main business remains at 34.99%.Cabinet products and settlement business channels have increased significantly, but failed to completely make up for the gap in traditional retail business.
It is understood that Hollying guests responded positively on the implementation and influence of the old and new policy, indicating that the implementation of the policy can help the recovery of home furnishing consumption. Store cooperation in the country provides subsidies to promote retail growth.The companys estimated revenue growth target in 2025 is 10-16%, and the three models of the installation business are introduced, including traditional retail dealers cooperation, independent art rectification stores, and direct-operated home improvement in cooperation between national installation companies.In terms of engineering large channels, the company has achieved a year -on -year increase of 72.02%through optimization of customer structure and closed -loop management.
It is understood that the number of Hollying guests has been optimized and adjusted in the number of stores. In the first three quarters, 71 new stores opened and 253 closed stores were closed, mainly to reduce operating risks and optimize teams. EssenceThe company said that in the future, high -quality new businessmen will be added, and the number and quality of stores will be improved.Regarding convertible bonds, the company decided that before the closing price of the stock reached the recent audited net asset value per share, it will not propose a downward amendment plan, and it will decide whether to exercise the transfer price of the conversion price under the market conditions and the companys performance decision. Essence
The details of the survey are as follows:
One, the third quarter of 2024 performance introduction
2024 In the first three quarters of the year, the company realized operating income of 1.444 billion yuan, a decrease of 11.24%year -on -year, and net profit of home mother was 90.966 million yuan, a decrease of 48.94%year -on -year, and the net profit of the deduction of non -returnees was 6,464,200 yuan, a decrease of 51.06%year -on -year.In the third quarter of 2024, the company realized operating income of 521 million yuan, a decrease of 20.43%year -on -year, and the net profit of home mother was 46.1 million yuan, a decrease of 50.79%year -on -year.
There are two main reasons for performance pressure.First, the retail market retail market during the reporting period is still recovering.However, with the orderly development of the old -fashioned subsidy subsidy policy in various places, the implementation of the policy promotes the consumption of home home improvement. Customizing the home furnishing industry is expected to usher in active recovery.Second, the company implements employee shareholding plans, and the amortization of incentive expenses during the reporting period has increased.After excluding the amortization cost of employees shareholding plan, the net profit of the deduction of non -returnees in the first three quarters of 2024 decreased by 39.81%year -on -year.
The companys financial status and overall business are healthy.The net cash flow generated by the company in the first three quarters of 2024 was positive.The companys main business gross profit margin is 34.99%, which remains stable.
The companys cabinet products maintain a double -digit growth; the overall business channels play a incremental role. The business is also continuously contributing to the increase in performance, achieving operating income of 209 million yuan, an increase of 72.02%year -on -year.However, the incremental increase in the installation business and the community failed to make up for the gap caused by the pressure of traditional retail business, and the contribution to the companys performance was limited.
2. Investors answering questions
Question 1: Is it sustainable in the future with the policy of changing the new policy?
< P ID = "35q1845u"> Answer: At present, the support policies such as "replacement of the old" are successively introduced and the promotion of the "replacement of the old" activity is different due to the differences in online, offline channels and regional subsidy policies.15%of the home improvement government in Guangzhou, with a maximum subsidy of 20,000 yuan per household.Hollying guests actively make interests and increase subsidy policies with the help of national supplements.Hollying customers and national stores have launched special subsidies for inclusive actions. Hollying Customers replenished 20%, and 20%of the national store shopping malls were added.Consumers can get a total of 55%of the total subsidies for government and enterprises.
It is implemented to the dealer terminal sales and then transmit it to the companys performance.The company is also actively cooperating with dealers offline stores and online stores to follow up and implement relevant policies in a timely manner. It empowers offline stores and gives full play to the advantages of mid -to -high -end brand positioning and full -category and full channel layout. Improve the companys operating performance.
In the future, the new policy of changing the old change will continue to make efforts, and the release of new demand for terminal consumers will bring room for growth for the development of the home furnishing industry.
Question 2: Companys revenue expectations in 2025?
Answer: According to the companys employee shareholding plan performance assessment goals, 2025 in 2025 The target of revenue growth is 10-16%.
Question 3: The performance of the third quarter? What are the modes of the whole installation?
Answer: Important replenishment channels increased by more than 60%year -on -year in the third quarter, and the year -on -year increase of more than 100%in the first three quarters.
At present, the company has three main ways to make a rectification. One is that traditional retail dealers cooperate with local installation companies, and the other is that the company recruits dealers to open an independent art store store Third, the direct -operated home improvement cooperated by the company and the nationwide installation enterprise.
Question 4: The reason for the growth of the project?
Answer: In the project large channel, the company insists on the core of the state -owned enterprises, the state -owned enterprise as the core, the high -quality high quality The customer structure supplemented by private enterprises, continuously optimize the customer structure and reduce the risk of cooperation.At the same time, the iron triangle team consisting of sales, technology and services is constructed to form a closed-loop management of "market development-solution-project guarantee", which helps the continuous and steady development of engineering major business.In the first three quarters of the company, the companys business revenue realized operating income of 209 million yuan, an increase of 72.02%year -on -year.
Questions 5: Reasons for the reduction of net stores?
Answer: In the first three quarters of the companys distribution channels, 71 new stores, closed stores 253 Home.It is mainly due to the optimization and adjustment of low -efficiency stores to reduce the risk of operating risks.The company has made optimization and replacement of stores that do not meet the requirements of the companys strategic development, and strive to create a healthy and competitive team by optimizing adjustments.At present, high -quality new merchants are supplemented in one after another, and the number and quality of stores will be improved.
Question 6: Is the convertible bond repaired?
Answer: The company has held a board of directors on September 9, 2024, and the resolution is in Before the companys stock closing price reached the recent audited net asset value per share, if it triggers the "good customer convertible bond" to revise the clause downward, it will not propose a downward amendment plan.From the closing price of the companys stock to the recent audited net asset value of the net asset value, the day is re -calculated on the day. If the "hospitable convertible bond" transfer price is revised down again, the companys board of directors will hold a meeting again The turnover price of debt revishes the right.In the future, the company will continue to cultivate the main business as usual, solidly and stable operations to enhance operating performance and market value, and create more investment returns for shareholders and bond holders.
This article comes from: the financial industry
Author: Lingtongjun
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