Summary by Moomoo AI
In the first nine months of 2024, Shinzo Premium reached RMB12281.3 million, up 22.8% year-on-year; gross profit increased 34.1% to RMB5419.8 million, and gross margin increased to 44.1%. Operating profit increased 14.3% to RMB2347.4 million and profit for the period increased 11.6% to RMB1825.7 million. The company's cash position is RMB6284.1 million and capital expenditure is RMB565.5 million.Management said revenue growth was mainly driven by a 19% increase in average store volume and same-store sales. Overseas revenue share increased to 37% and gross margin improved. The company has 7,420 stores worldwide and plans to grow 900-1,100 stores in 2024. Startup will continue to focus on IP strategy and globalization strategy and maintain adjusted net profit of no less than 50% per year as a dividend.In terms of risk, the uncertainty of the macro environment may present short-term challenges, but the company will maintain a stable profit margin through refined operations and expense management. Looking ahead, the company will continue to balance growth with shareholder returns and plans to complete the acquisition of shares in Wing Fai Supermarket in the first half of 2025.
