Summary by Futu AI
On June 30, 2024, China Youzan announced its six-month interim results for the period ended June 30 of the same year. The report shows that the group's revenue was approximately RMB 686,329,000, a decrease of 5.2% compared to the same period last year. Among them, revenue from subscription solutions decreased by 10.6%, while revenue from merchant solutions increased by 2.2%. The gross profit was approximately RMB 469,149,000, a decrease of 6.4%. The gross margin decreased from 69.2% in the same period last year to 68.4%. The operating profit recorded approximately RMB 2,586,000, significantly improving from a loss of approximately RMB 11,265,000 in the same period last year. As of the end of the reporting period, the group's total cash and cash equivalents were approximately RMB 839,499,000. The board of directors decided not to distribute interim dividends. The company emphasized that it will continue to cultivate its core customer base, fully embrace AGI, and create an intelligent consumer operation system to help merchants increase profit growth.