Summary by Futu AI
In the mid-term report of Xiamen Yanzi House Swallow's Nest Industry Co., Ltd. (Yanzi House) in 2024, the company announced that its revenue increased by 11.36% compared to the same period last year, reaching 1059.30 million RMB. Gross profit increased by 5.41% YoY, reaching 513.80 million RMB, but net profit decreased by 44.07%, amounting to 60.05 million RMB. Yanzi House stated that the revenue growth was mainly due to the strong growth of online sales, especially sales directly to online customers. The company has not announced the distribution of mid-term dividends and has stated that it will continue to strengthen brand building and marketing promotion, expand sales networks, and enhance supply chain management capabilities. In addition, the H-share incentive plan approved by Yanzi House on March 25, 2024, has been implemented, and a third-party trustee has purchased 958,800 H-shares for employee incentive plans. During the reporting period, Yanzi House did not engage in any significant asset acquisitions, sales, or redemptions.
