Summary by Moomoo AI
On June 30, 2024, China Youzan announced its interim results for the six months ended June 30 of the same year. The report shows that the group's revenue was approximately RMB 686,329,000, a decrease of 5.2% from the same period last year. Among them, revenue from subscription solutions decreased by 10.6%, while revenue from merchant solutions increased by 2.2%. The gross profit was approximately RMB 469,149,000, a decrease of 6.4%, and the gross margin decreased from 69.2% to 68.4% year-on-year. Operating profit recorded approximately RMB 2,586,000, a significant improvement from a loss of approximately RMB 11,265,000 for the same period last year. As of the end of the reporting period, the group's total cash and cash equivalents were approximately RMB 839,499,000. The Board of Directors has decided not to distribute interim dividends. The company emphasizes that it will continue to deepen its core customer base, fully embrace AGI, and build an intelligent consumer operation system to help merchants increase profit growth.
