A-zenith Home Furnishings (603389.SH) announced on July 9th that according to preliminary calculations by the finance department, the net income attributable to the owners of the parent company in the first half of 2024 is expected to be between -30 million yuan and -25 million yuan, and the net income after deducting non-recurring gains and losses is expected to be between -31 million yuan and -26 million yuan.
1. Due to the impact of furniture consumer downgrading and changes in consumer habits, high-end furniture customer groups have decreased, physical store traffic is insufficient, and the expansion of distribution channels is less than expected. The scale and quality of the channels have not been greatly improved, and revenue has slightly decreased compared with the same period last year. 2. Thanks to the measures taken by the company to reduce costs and increase efficiency, the total management expenses and sales expenses in this period decreased by about 14 million yuan compared with the same period last year, but compared with the current revenue scale of the company, the expense ratio of management and sales is still too high.