Youzan Technology (8083) H2 2024 earnings summary

Executive summary

• 2024 GMV reached RMB102.8 billion, with Store SaaS GMV accounting for 50%.

• Revenue for 2024 was RMB1,442.3 million, with H2 revenue up 4% YoY.

• Adjusted EBITDA surged 288% YoY to RMB121.4 million.

• Average sales per merchant rose 14% YoY to RMB1.84 million; ARPU increased 13% YoY to RMB25,832.

• The company entered a phase of sustained profitability and targets active growth in 2025.

Financial highlights

• Total revenue for 2024 was RMB1,442.3 million, with subscription solutions revenue RMB780.6 million and merchant solutions revenue RMB658.2 million.

• Gross profit for 2024 was RMB978.2 million, with a gross margin of 67.8%.

• Adjusted EBITDA margin improved to 8.4% from 2.2% in 2023.

• Net cash inflow from operations was RMB68 million; year-end cash balance RMB889 million.

• Loss attributable to owners was RMB176.6 million, compared to a profit of RMB7.4 million in 2023.

Outlook and guidance

• 2025 strategy focuses on business growth, steady profit margin improvement, and increased AI integration.

• Intelligent products are expected to drive incremental revenue in 2025.