Yifeng Pharmacy Chain (603939) Q4 2024 earnings summary

Executive summary

• Achieved operating revenue of CN¥24.06 billion in 2024, up 6.53% year-over-year; net profit attributable to shareholders reached CN¥1.53 billion, up 8.26% year-over-year.

• Net increase of 1,434 stores, bringing total to 14,684, including 3,812 franchise stores; continued regional concentration and steady expansion strategy.

• Digital transformation, supply chain optimization, and new retail ecosystem development drove operational efficiency and customer engagement.

• Proposed cash dividend of CN¥0.40 per share, with total cash dividend distribution of CN¥484.97 million, subject to shareholder approval.

Financial highlights

• Operating revenue: CN¥24.06 billion, up 6.53% year-over-year.

• Net profit attributable to shareholders: CN¥1.53 billion, up 8.26% year-over-year.

• Net profit after non-recurring items: CN¥1.50 billion, up 9.96% year-over-year.

• Gross profit margin: 38.36%, up 1.36 percentage points year-over-year.

• Weighted average ROE: 14.67%; basic EPS: CN¥1.26.

• Total assets: CN¥27.97 billion, up 15.90% from previous year.

• Net cash flow from operating activities: CN¥4.22 billion, down 8.70% year-over-year.

Outlook and guidance

• Focus on expanding store network with city-specific strategies and digital tools to improve site selection and operational efficiency.

• Continued innovation in online-offline integration, supply chain, and health management services.

• Emphasis on talent development, digital transformation, and customer-centric service models for sustainable growth.