New Consumer Daily, March 23. The main contents of today's new consumer daily include: the online car-hailing supervision system dropped 14.9% month-on-month; Xi'an opened 4 additional special Tianshui spicy hot pot trains; and the number of reservations for the Flying Pig Qingming Holiday Outbound Tour increased nearly 3 times over the same period last year.

Industry highlights

Meituan's revenue for the full year of 2023 was 276.7 billion yuan, up 26% year-on-year

Meituan announced results for the fourth quarter and full year of 2023. The company's various businesses continued to achieve steady growth, with annual revenue of 276.7 billion yuan, an increase of 26% over the previous year. In 2023, Meituan's instant delivery orders increased by 24% to 21.9 billion. The number of annual food and beverage takeout transaction users continues to grow, and the size of the medium- and high-frequency user base and the frequency of purchases are steadily increasing. Meituan flash shopping also showed broad room for development. The order volume continued to grow healthily, and the annual order growth rate was over 40% year-on-year. In 2023, Meituan's revenue for Q4 was 73.696 billion yuan, up 22.6% year on year; adjusted net profit for Q4 was 4.375 billion yuan, up 427.6% year on year.

Lululemon's global net revenue for fiscal year 2023 increased 19% year over year

Lululemon released financial results for the fourth quarter and full year of fiscal year 2023. In the fourth quarter of fiscal year 2023, the company's global net revenue increased 16% year over year to US$3.2 billion, and net revenue from the mainland China business increased 78% year over year.

In fiscal year 2023, the company's global net revenue increased 19% year over year to US$9.6 billion, and mainland China's annual net revenue increased 67% year over year. By the end of fiscal year 2023, Lululemon had 127 stores in mainland China. On a fixed dollar basis, comparable store sales increased 14% year over year in FY23.

Nike Greater China's revenue for the third quarter of fiscal year 2024 was US$2,084 billion

On March 22, Nike announced its results report for the third quarter of fiscal year 2024. According to the data, revenue in Greater China increased 6% year on year to US$2,084 billion, achieving 6 consecutive quarters of positive growth. Among them, footwear revenue was US$1,547 million, up 3% year on year; apparel revenue was US$498 million, up 8% year on year; and accessories revenue was US$39 million, up 5% year on year.

In the third quarter of fiscal year 2024, the Group's total revenue increased slightly by 0.3% year on year to US$12.4 billion, which was generally the same as the same period last year; net profit fell 5% year on year to US$1,172 billion. Among them, Nike's own business revenue was 5.4 billion US dollars, and Nike's dealer business revenue increased 3% to 6.6 billion US dollars.

Sam's Club opens 2 new stores

Recently, Sam's Club has finalized two more new stores. First, the first Sam's Club store was officially located in the Zhangjiagang Economic Development Zone (Yangshe Town); second, Sam's Club's second store in Wuxi was officially located in the Huishan Economic and Technological Development Zone in Wuxi. The two stores will each open in 2025.

According to reports, this is the first time that Sam's Club has formed a relationship with Zhangjiagang, and it is also the fourth Sam's Club store to open in Suzhou. The project plans to have nearly 20,000 square meters of shopping space on the first floor, and more than 1,000 members-only parking spaces on the second, third, and ground floors. Construction is expected to officially commence in mid-2024, with the aim of opening within 2025.

Weilong's net profit in 2023 increased nearly fivefold

On March 21, Weilong Yummy announced the full year results for 2023. Financial reports show that Weilong's overall business operations and financial performance remained stable, with revenue of about 4.872 billion yuan during the year, up 5.2% year-on-year, mainly due to the rapid development of emerging channels such as O2O, snack stores, and content e-commerce. Diversified channels promoted the accelerated transformation of the snack food industry. Facing this development trend, the Group kept pace with the times, actively embraced the growth opportunities brought about by emerging channels, and continued to strengthen its omnichannel operation and expansion strategy.

Gross profit during the year was about 2,323 billion yuan, up 18.5% year on year, and gross margin increased 5.4 percentage points to 47.7% year-on-year, mainly due to: the Group's adjustments to the main product structure in the previous year; the decline in raw material prices during the year; and the Group optimized cost management through continuous optimization of production processes.

The Group's profit for the year was about 880 million yuan, an increase of 481.9% over the previous year. Adjusted net profit increased 6.3% year-on-year to $970 million, mainly due to an increase in the Group's gross profit, and adjusted net profit margin increased to 19.9% from 19.7% in the previous year.

Hungry announced that the new three-year strategic plan will still target the market

Hungry recently held a 100-person group meeting. At this meeting, Yu Yongfu, the new chairman Wu Zeming (Fan Yu), and the new CEO Han Liu (Hao Chen) all made important statements, conveying the key messages behind this round of organizational adjustments.

Yu Yongfu also said at the 100-person group meeting that after the relay of the new management team, Hungry will go through a new cycle in the next three years, and it will also get closer and closer to being able to go public independently. Yu Yongfu hopes that Hungry can continue to improve the quality of operations, overcome the uncertainty of the overall external environment, and continue to wait for the day when the break-even point is reached.

Seesaw is open to join, and the first 5 stores have already opened

Recently, the Seesaw Coffee official applet homepage appeared on the “Cooperative Store Partner to Join” banner image and indicated “Each city is limited to 3 people”. After clicking “Click to Register” in the upper right corner, a “Registration of Intent to Cooperate” form opens. In addition to basic personal information, you also need to fill in relevant information such as restaurant management experience, whether you have an operation team, whether there is a suitable restaurant, and investment budget. At the end of the form, it is indicated that the relevant staff will be in touch within 5 working days.

According to reports, Seesaw will adjust its store opening strategy and open up various business models, including franchises, in-store stores, and partner stores. Currently, Seesaw's first 5 franchise stores have opened. After 3 months of testing, the response has been good; in-store stores and partner stores will also open one after another by the end of March.

Shangmei Co., Ltd.'s 2023 revenue of 4.191 billion yuan, and net profit doubled year-on-year

On March 21, Shangmei Co., Ltd. announced its 2023 results. For the full year of 2023, the operating income of Shangmei shares was 4.191 billion yuan, up 56.6% year on year; net profit to mother was 461 million yuan, up 213.5% year on year; gross profit was 3,019 billion yuan, up 77.7% year on year; gross margin was 72.1%, up 8.6 percentage points from 2022.

Among them, Han Shu had revenue of 3,090 billion yuan for the full year of 2023, an increase of 143.8% over the previous year, ranking first in the domestic beauty market. The explosion in Douyin's performance led to a high increase in Han Shu's revenue. The brand Douyin achieved a GMV of 3.34 billion yuan throughout the year, an increase of 374.4% over the previous year, making it the number one selling Douyin beauty brand.

The number of hotel reservations for the Flying Pig Qingming holiday outbound tour increased nearly threefold year-on-year

On March 22, Flying Pig released the “2024 Qingming Holiday Travel Trend Vane”. The report shows that up to now, the popularity of flower trips during the Qingming holiday has surged more than 7 times compared to last year. Among them, high-speed rail, self-driving, and cycling have become popular travel methods, and the number of reservations has doubled compared to last year. The share of parent-child orders for air tickets, hotels, and other services increased by nearly 20% compared to last year, and the number of reservations per capita increased 15% compared to last year.

Outbound travel during the Qingming holiday this year also continued to heat up. According to Flying Pig data, up to now, the number of outbound hotel reservations has increased nearly 3 times compared to last year, and the number of outbound travel product reservations has increased more than 4 times compared to last year.

ST Noble will be officially delisted on March 29th

ST Guire issued an announcement. The Shanghai Stock Exchange decided to terminate the listing of the company's shares. The date of termination and delisting is March 29, 2024.

Has the Zhejiang subsidiary of Nongfu Spring been cancelled? I applied for cancellation last year

According to Tianyan investigation, Zhejiang Nongfu Spring Drinking Water Co., Ltd. cancelled its business license according to law on March 21. The reason for the cancellation was “due to a merger or division of the company.” On the afternoon of the 22nd, a person close to Nongfu Spring Company responded to a Financial Association reporter saying, “Last year, Nongfu Spring applied for the cancellation of this subsidiary, which is due to changes in Farmer's normal business.” A person from the Hangzhou Municipal Market Supervision Bureau told the Financial Federation reporter in an analysis.

Zhejiang Nongfu Spring Drinking Water Co., Ltd. was established in December 1998 and is wholly owned by Nongfu Spring Co., Ltd.

Xi'an opens 4 additional special trains for Tianshui spicy hot pot

In order to meet the travel needs of travelers, China Railway Xi'an Group Co., Ltd. opened 4 additional “spicy hot pot trains” from March 22 to March 24 on top of the 80 trains that have already been operated from Xi'an to Tianshui to further enhance transportation capacity guarantee. According to incomplete statistics, since March 11, railway passenger traffic from Xi'an to Tianshui has been rising day by day. Xi'an Railway Station and Xi'an North Railway Station sent a total of 12,000 passengers to Tianshui from March 11-19. The single-day passenger flow increased by about 42.3% compared to last year.

Extreme Krypton's annual revenue of 51.6 billion: net loss of 1.1 billion yuan, delivery of 119,000 vehicles

Geely Automobile Holdings Co., Ltd. (“Geely Automobile”, 0175.HK) recently announced its 2023 financial results. According to financial reports, Geely Automobile's revenue in 2023 was 179.2 billion yuan, up 21% from 147.965 billion yuan in the same period last year; Geely Automobile's annual profit in 2023 was 4.935 billion yuan, up 6% from 4.65 billion yuan in the same period last year; realized net profit to mother reached 5.308 billion yuan, an increase of 1% over 5.26 billion yuan in the same period last year.

According to financial reports, Extreme Krypton's revenue in 2023 was 51,636 billion yuan, an increase of 62% over 31,787 billion yuan in the same period last year. Extreme Krypton's net loss in 2023 was $1,135 million, and the net loss for the same period last year was $2,039 million.

Ding Lei, founder of Gaohe Auto, was restricted from spending too much

According to the China Executive Information Disclosure Network, on March 21, China Express Holdings (Shanghai) Co., Ltd. and its legal representative, Ding Lei, added a consumption restriction order. The applicant was Guangdong Pingqi Culture Technology Co., Ltd., involving a sales contract dispute.

According to information, China Express was founded by Ding Lei in 2017 and owns the luxury pure electric brand Gaohe Auto. Chinese Express Holdings (Shanghai) Co., Ltd., involved in this case, was established in February 2019 with a registered capital of about 253 million yuan. The legal representative and chairman is Ding Lei.

Hangzhou Xiaoshan Shunfa Food Packaging Corporation under Wahaha changed to Zong Fuli

According to the National Enterprise Credit Information Publicity System, the legal representative of Hangzhou Xiaoshan Shunfa Food Packaging Co., Ltd. changed from Zong Qinghou to Zong Fuli. The company type was changed from “Other Limited Liability Company” to “Limited Liability Company (Hong Kong, Macao and Taiwan investment, non-sole proprietorship)”. The date of change is March 21.

Mao Geping increased its capital to 200 million yuan, an increase of 233%

On March 22, Mao Geping Cosmetics Co., Ltd. underwent a commercial change. The registered capital was increased from 60 million yuan to 200 million yuan, an increase of about 233%.

Nike will replace Adidas as German men's football sponsor

On March 21, local time, the German national men's soccer team announced that it would end its cooperation with the German sports brand adidas and sign a seven-year jersey sponsorship agreement with the American sports brand Nike. Nike will become the exclusive equipment sponsor for the German men's soccer team from 2027. In addition, the agreement also promises to support the German Football Association's amateur sports activities and promote the development of women's soccer.

According to reports, Adidas has been cooperating with the German men's soccer team for 77 years. According to the previous contract, the cooperation between Adidas and the German Football Association will not expire until 2034, and the German Football Association will receive 50 million euros of sponsorship from Adidas every year. According to several commercial media speculations, the final cooperation price between Nike and the German Football Association may be close to 100 million euros per year.

According to the German Football Association, “Nike has made the best economic offer so far.” German Football Association President Neundorf also said that the future partnership will enable the German Football Association to continue to carry out key tasks for the next ten years to promote the all-round development of German football.

The Kuaishou infringement case against Mingchuang Premium will be heard on April 8

On March 22, the Guangzhou Internet Court website showed that Mingchuang Premium (Guangzhou) Co., Ltd. and Beijing Kuaishou Technology Co., Ltd. added a court notice. The cause of the case was an online infringement dispute. The plaintiff was Mingchuang Premium (Guangzhou) Co., Ltd., and the case will be heard in the Guangzhou Internet Court at 9:30 on April 8.

Rouyu Technology was executed for 149 million

According to Tianyancha's legal lawsuit information, recently, Shenzhen Rouyu Technology Co., Ltd. and its subsidiary Shenzhen Rouyu Display Technology Co., Ltd. added an additional piece of executee information, and the execution target was more than 149 million yuan. The execution court was the Shenzhen Intermediate People's Court of Guangdong Province.

Shenzhen Rouyu Technology Co., Ltd. was established in May 2012. The legal representative is Liu Zihong, with a registered capital of 360 million yuan. Liu Zihong and CITIC Capital (Shenzhen) Asset Management Co., Ltd. are jointly owned by Liu Zihong. According to risk information, the company already has more than 20 pieces of executee information, and the total amount executed exceeds 3 billion yuan.

What's new about going out to sea

Jitu's first financial report after listing: revenue of US$8.8 billion, up 22% year-on-year with adjusted net loss of US$430 million

Jitu Express Global Co., Ltd. (“Jitu”, stock code: “1519”) today released its first financial report since listing. According to financial reports, Jitu's revenue in 2023 was US$8.849 billion, up 21.8% from US$7.267 billion in the same period last year. Goku's gross profit in 2023 was US$473 million, with a gross loss of US$270 million in the same period last year.

Jitu had an operating loss of US$1,767 billion in 2023, and an operating loss of US$1.39 billion for the same period of the previous year; the loss during the year was US$1,156 billion, compared to a profit of US$1,573 billion for the same period last year.

Jitu's adjusted net loss in 2023 was US$432 million, and the adjusted net loss for the same period last year was US$1,488 million; the adjusted EBITDA was US$147 million, and the adjusted EBITDA for the same period last year was -894 million US dollars.

Among them, in 2023, Jitu's revenue from Southeast Asia was US$2,633 million, gross profit was US$470 million, and adjusted EBITDA was US$376 million; revenue from the Chinese market was US$5.229 billion, gross profit was US$58.82 million, and adjusted EBITDA was US$30.73 million.

In 2023, Jitu's revenue from new markets was US$327 million, gross profit was US$1.65 million, and adjusted EBITDA was US$81.66 million; revenue from cross-border revenue was US$660 million, gross loss was US$58 million, and adjusted EBITDA was US$107 million.

Comparatively, Jitu's adjusted EBITDA from the Chinese market in 2022 was -723 million US dollars, while in 2023 it was positive

Industry opinion newsletter

The number of netizens in China has reached 1,092 billion, and the number of artificial intelligence companies has exceeded 4,400

The China Internet Network Information Center (CNNIC) released the 53rd “Statistical Report on China's Internet Development” in Beijing on March 22. As of December 2023, the number of Internet users in China reached 1,092 billion, an increase of 24.8 million over December 2022, and the Internet penetration rate reached 77.5%. The number of online shopping users in China has increased significantly, with an increase of 69.67 million compared to December 2022, with a growth rate of 8.2%, helping online retail sales rank first in the world for 11 consecutive years.

Online car-hailing supervision system orders fell 14.9% month-on-month in February

According to statistics from the online car-hailing supervision information exchange system, as of February 29, 2024, a total of 341 online car-hailing platform companies nationwide had obtained licenses to operate online car-hailing platforms, an increase of 2 over the previous month; 6.713 million online car-hailing driver's licenses and 2.821 million vehicle transport permits were issued in various regions, up 1.5% and 0.3%, respectively. The online car-hailing supervision information exchange system received a total of 775 million order information orders in February, a decrease of 14.9% over the previous month.