Youzan Technology Co., Ltd. (formerly known as China Youzan Limited, referred to as "Youzan") announced its interim report for the six months ended June 30, 2024. The report shows that Youzan recorded revenue of approximately RMB 686,329,000, a decrease of 5.2% compared to the same period last year. Among them, subscription solution revenue was approximately RMB 377,489,000, a decrease of 10.6%, while merchant solution revenue was approximately RMB 306,639,000, an increase of 2.2%. The gross profit was approximately RMB 469,149,000, a decrease of 6.4%, and the gross margin decreased from 69.2% in the same period last year to 68.4%. The company recorded an operating profit of approximately RMB 2,586,000, a significant improvement from the operating loss of approximately RMB 11,265,000 in the same period last year. As of the end of the reporting period...Show More

Youzan Technology Co., Ltd. (formerly known as China Youzan Limited, referred to as "Youzan") announced its interim report for the six months ended June 30, 2024. The report shows that Youzan recorded revenue of approximately RMB 686,329,000, a decrease of 5.2% compared to the same period last year. Among them, subscription solution revenue was approximately RMB 377,489,000, a decrease of 10.6%, while merchant solution revenue was approximately RMB 306,639,000, an increase of 2.2%. The gross profit was approximately RMB 469,149,000, a decrease of 6.4%, and the gross margin decreased from 69.2% in the same period last year to 68.4%. The company recorded an operating profit of approximately RMB 2,586,000, a significant improvement from the operating loss of approximately RMB 11,265,000 in the same period last year. As of the end of the reporting period, Youzan's total cash and cash equivalents were approximately RMB 839,499,000, with a current ratio of 1.07 times. The board of directors does not recommend the payment of interim dividends. Youzan continues to focus on providing omnichannel e-commerce solutions and intelligent consumer operation systems, fully embracing artificial intelligence technology to support merchants in using its systems in more scenarios. The company held multiple events during the reporting period to expand its brand influence and enhance marketing and sales efficiency. Following the reporting period, Youzan's subsidiary, Beijing Gaohui Tong, was fined for conducting payment business in violation of regulations, which is expected to have an adverse impact on the net profit for the full year 2024.