JNBY Design (3306) H2 2024 earnings summary

Executive summary

• Revenue rose 17.3% year-over-year to RMB5,238.1 million, driven by higher same store sales, online growth, and expanded offline presence.

• Net profit increased 36.5% to RMB848.1 million, with net profit margin improving from 13.9% to 16.2%.

• Gross profit grew 19.0% to RMB3,470.5 million, with gross margin up 1.0 percentage point to 66.3%.

• Board recommended a final dividend of HK$0.86 per share, with total dividends for the year at 97% of net profit.

Financial highlights

• Operating profit rose to RMB1,194.3 million from RMB857.9 million year-over-year.

• Net cash inflow from operating activities surged 70.7% to RMB1,603.0 million.

• Cash and cash equivalents at year-end were RMB698.6 million, up from RMB525.1 million.

• Basic EPS increased to RMB1.67 from RMB1.24; diluted EPS to RMB1.64 from RMB1.22.

• Capital expenditure was RMB183.0 million, up from RMB155.4 million.

Outlook and guidance

• Management remains confident, citing stable economic recovery and rising demand for designer brands in China.

• Strategic focus on omni-channel retail, digital transformation, and ESG commitments for sustainable growth.