Lei Jianping on April 25
BESTORE Co., Ltd. (company code: 603719, company abbreviation: BESTORE) announced its financial results today. According to the financial report, BESTORE's revenue in the first quarter of 2024 will be 2.451 billion yuan, a year-on-year increase of 2.79%;
BESTORE's net profit in the first quarter of 2024 was 62.48 million yuan, down 57.98% year-on-year, and net profit after deducting non-profits was 54.88 million yuan, down 48.69% year-on-year.
At the end of 2023, BESTORE announced a significant price reduction for its products. The average price reduction of the 300 products of BESTORE was reduced by 22%, and the highest price reduction was 45%, which was also the largest price reduction in the 17 years since BESTORE was established.
Overall, the strategy of price reduction and volume exchange was successful, as BESTORE's revenue in the first quarter of 2024 increased slightly, but at the cost of declining profits.
BESTORE said that the decline in net profit was mainly due to the fact that the company adjusted the prices of some commodities compared with the same period, and the gross profit margin declined, while the current government subsidies were affected by the rhythm, which led to a decline in net profit.
Today, capital and Hillhouse are speeding up
As of March 31, 2024, Ningbo Hanyi Venture Capital Partnership (Limited Partnership) held 35.38% of the shares, Dayong Co., Ltd., a subsidiary of Today Capital, held 23.05% of the shares, Ningbo Liangpin Investment Management Co., Ltd. held 2.99% of the shares, Ningbo Aibang Investment Management Co., Ltd. held 2.23% of the shares, and HH LPPZ (HK) Holdings Limited, a subsidiary of Hillhouse, held 1.24% of the shares;
As of March 31, 2024, BESTORE's share price structure
Hong Kong Securities Clearing Co., Ltd. holds 0.93% of the shares, BESTORE Co., Ltd. - 2023 Employee Stock Ownership Plan holds 0.75%, Ningbo Hanliang Qihao Investment Management Partnership (Limited Partnership) holds 0.7%, GF Securities Co., Ltd. holds 0.7%, Ningbo Hanlin Zhihao Investment Management Partnership (Limited Partnership) holds 0.62%, and Ningbo Hanning Beihao Investment Management Partnership (Limited Partnership) holds 0.59%.
As of the end of the reporting period, Ningbo Hanliang, Ningbo Hanlin, Ningbo Hanning and Ningbo Hanliang were acting in concert. Yang Hongchun, Yang Yinfen, Pan Jihong, and Zhang Guoqiang control a total of 38.37% of the shares of BESTORE.
As of December 31, 2023, Ningbo Hanyi Venture Capital Partnership (Limited Partnership) held 35.38% of the shares, Dayong Co., Ltd., a subsidiary of Today Capital, held 26.05% of the shares, HH LPPZ (HK) Holdings Limited, a subsidiary of Hillhouse, held 3% of the shares, Ningbo Liangpin Investment Management Co., Ltd. held 2.99% of the shares, and Ningbo Aibang Investment Management Co., Ltd. held 0.86% of the shares;
As of December 31, 2023, BESTORE's shareholding structure
BESTORE Co., Ltd. - 2023 Employee Stock Ownership Plan holds 0.75% of the shares, Ningbo Hanliang Qihao Investment Management Partnership (Limited Partnership) holds 0.7%, GF Securities Co., Ltd. holds 0.7%, Ningbo Hanlin Zhihao Investment Management Partnership (Limited Partnership) holds 0.62%, and Ningbo Hanning Beihao Investment Management Partnership (Limited Partnership) holds 0.59%.
The comparison can be found that in the first quarter of 2024, today's capital and Hillhouse will continue to accelerate their holdings.
Among them, the shareholding of Dayong Co., Ltd. decreased by 3 percentage points, and the shareholding of Hillhouse decreased by 1.76 percentage points, but Hong Kong Securities Clearing Co., Ltd. increased its holdings and became the top ten shareholders.
———————————————
Lei Di was founded by Lei Jianping, a media person, if it is reprinted, please indicate the source.