On April 17, Xiang Piaopiao released its 2023 annual report and 2024 first quarter report.
According to the report, in 2023, the company will achieve revenue of 3.625 billion yuan, a year-on-year increase of 15.90%, a net profit of 280 million, a year-on-year increase of 31.04%, and a non-net profit of 231 million yuan, a year-on-year increase of 32.76%;
the net cash flow from operating activities was 383 million, a year-on-year decrease of 51.20%;
In the first quarter of 2024, the revenue will be 725 million, a year-on-year increase of 6.76%, and the net profit will be 25 million, compared with 0.06 billion in 2023, an increase of more than 330%;
Net cash flow from operating activities was -$158 million, compared to -$308 million in the first quarter of last year, an improvement mainly due to the increase in cash received from goods sold during the year.
According to public information, Xiangpiaopiao was established in 2005 and listed in 2017, making it the first listed company in the domestic milk tea industry. Its main business is the research and development, production and sales of milk tea products, and its business covers two major sectors: brewing and ready-to-drink.