WEILONG Delicious Global (9985) H2 2024 earnings summary

Executive summary

• Achieved revenue of RMB 6,266.3 million, up 28.6% year-over-year, with net profit rising 21.3% to RMB 1,068.1 million, driven by product innovation, omni-channel expansion, and enhanced brand engagement targeting young consumers.

• Gross profit margin improved to 48.1%, up 0.4 percentage points from the previous year.

• Continued investment in supply chain automation, digital transformation, R&D, and talent development to support business growth and operational efficiency.

• Proposed final dividend of RMB 0.11 per share, special dividend of RMB 0.18 per share, and interim dividend of RMB 0.16 per share already distributed.

• Focused on enriching product portfolio and leveraging both online and offline channels for market penetration.

Financial highlights

• Revenue reached RMB 6,266.3 million (+28.6% YoY); net profit rose 21.3% to RMB 1,068.1 million; gross profit: RMB 3,016.1 million (+29.9% YoY).

• Gross profit margin: 48.1% (+0.4p.p); net profit margin: 17.0% (down from 18.1%).

• EBITDA increased 20.5% to RMB 1,722.6 million; EPS grew 21.1% to RMB 0.46.

• Distribution and selling expenses: RMB 1,026.3 million (+27.2% YoY); administrative expenses: RMB 491.0 million (+7.0% YoY).

• Cash, term deposits, and equivalents: RMB 5,267.5 million (+12.3% YoY); total assets rose 16.0% to RMB 8,182.4 million; net assets up 5.3% to RMB 6,006.4 million.

Outlook and guidance

• Plans to deepen multi-category strategy, accelerate product innovation, and enhance brand reputation.

• Will strengthen omni-channel development, expand emerging channels, and boost market penetration.

• Focus on supply chain automation, digital transformation, and organizational optimization to drive efficiency and sustainable growth.

• Further investment in quality control and digitalization to enhance shareholder value.