Summary by Moomoo AI
Xiamen Yan Zhiwu Yanwo Industry Co., Ltd. (Yan Zhiwu) announced in the mid-year report of 2024 that the company's revenue increased by 11.36% compared to the same period last year, reaching RMB 1,059.30 million. The gross profit increased by 5.41% year-on-year, reaching RMB 513.80 million, but the net profit decreased by 44.07%, to RMB 60.05 million. Yan Zhiwu indicated that the revenue growth was mainly due to the strong growth in online sales, especially the direct sales to online customers. The company did not declare an interim dividend and stated that it will continue to strengthen brand building and marketing promotion, expand sales network, and enhance supply chain management capabilities. In addition, Yan Zhiwu's H-share incentive plan approved on March 25, 2024 has commenced, and a third-party trustee has purchased 958,800 H-shares for employee incentive plans. During the reporting period, Yan Zhiwu did not engage in any significant asset purchase, sale, or redemption activities.
