On April 26, Yixintang released its 2023 annual report and 2024 first quarter report.
Finishing | Hair
01
2023 revenue of 17.38 billion yuan
The net profit was 549 million yuan
According to the annual report, Yixintang's revenue in 2023 will be 17.38 billion yuan, a year-on-year decrease of 0.29%, basically the same as last year. The net profit attributable to the parent company was 549 million yuan, a year-on-year decrease of 45.60%.
Among them, the pharmaceutical retail business achieved revenue of 12.628 billion yuan, accounting for 72.66% of the total revenue.
In terms of products, the sales of traditional Chinese medicine increased rapidly, with a year-on-year increase of 11.16%, the sales of Chinese and Western patent medicines increased slightly compared with 2022, and the proportion of other business income was small, but the performance grew rapidly, with a year-on-year increase of 63.86%.
02
In 2023, there will be 10,255 directly-operated stores
As of December 31, 2023, Yixintang and its wholly-owned subsidiaries had a total of 10,255 directly operated chain stores, covering 10 provinces and municipalities directly under the central government, with the number of stores in Yunnan Province accounting for 52.63% and the number of stores outside Yunnan Province accounting for 47.37%, an increase of 4.12% from the beginning of the year.
During the reporting period, Yixintang adhered to the high-density layout of stores in the core area, focusing on the development of southwest and south China, while taking into account the development of stores in North China, continued to strengthen the competitiveness in the core development area, and focused on the development of stores in Sichuan and Chongqing while stabilizing the Yunnan market, so as to quickly form a scale advantage. In the future, Yixintang will continue to increase the proportion of stores outside Yunnan Province, comprehensively increase the market share of the southwest, focus on the layout of South China and North China, and form a market expansion pattern with Southwest China as the core business area, South China as the strategic in-depth business area, North China as the supplementary business area, and Central China and East China as the gradual exploration of business areas.
In terms of average daily efficiency, provincial capital-level stores were the highest, reaching 41.37 yuan/square meter, followed by prefecture-level stores, with an average daily average efficiency of 37.83 yuan/square meter, and county-level and township-level stores were 33.53 yuan and 36.07 yuan per square meter respectively.
03
Diversification and expansion continue to make efforts
After more than 20 years of development, Yixintang has formed a development pattern with pharmaceutical retail chain as the core and diversified business formats coexisting.
By introducing beauty, personal care, food, milk powder and other products, Yixintang attracts more consumers, expands its business areas, realizes product diversification, and provides consumers with more high-quality goods and services. Build a pan-health category based on healthy beauty, healthy personal care, healthy daily chemicals, healthy food, and healthy milk powder. In 2023, it will achieve sales of 370 million, of which beauty products account for 60%, personal care 23.5%, and food, milk powder, and daily chemicals 27.5%. In the future, we will strengthen the overall promotion and product structure expansion of personal care, daily chemicals, food and milk powder categories.
The sales scale of the lottery consignment business is also expanding. As of December 2023, Yixintang in Yunnan, Guizhou, Hainan, Sichuan, Chongqing, Guangxi, Shanxi, Tianjin 8 provinces / cities in more than 3000 stores to carry out the "pharmacy + lottery" business pilot, for the majority of residents to provide medicine purchase color services, 2023 Yixintang lottery sales flow of 76.98 million yuan (including 8.52 million yuan of Yixin convenience), bringing new customer flow growth to the store.
At the same time, Yixintang focuses on building professional stores for chronic diseases, carrying out professional chronic disease management services and disease control publicity and education activities, which not only achieves good social effects, but also enhances the company's brand effectiveness and comprehensive competitiveness, and contributes to the company's long-term development.
04
New retail sales were 876 million yuan
O2O占比74%
Following the Group's overall strategic objectives, Yixintang's e-commerce sector actively builds an omni-channel sales network, an omni-channel communication network and an omni-channel service network while developing its offline business steadily.
In 2023, the sales of new retail business will be 876 million, of which O2O channel sales will account for about 74%. With the implementation of the "Measures for the Supervision and Administration of Drug Online Sales", the awareness of online drug purchase has increased year by year, and the pharmaceutical e-commerce market still has a large room for growth.
In the future, Yixintang's new retail sector will focus on empowering the main business to achieve high-quality business development, customer-centric, realize the linkage between the public and private domains, and provide professional services through efficient online and offline collaboration. Based on Yixintang's digital development plan, relying on technologies such as big data and artificial intelligence, combined with professional pharmacy service capabilities, the new retail sector will further accelerate the online business, B2C store group matrix and O2O channel refined operation, etc., will achieve multi-channel more efficient reach and service to consumers across the country, and the online operation of customer store communities and chronic disease members will further enhance the activity and member experience of Yixindaojia private domain mall. At the same time, with data-driven business development, the new retail segment will provide innovative products and supply chain services that are more in line with customer needs, and better enhance consumer experience and brand image.
05
The revenue in the first quarter of 2024 will be 5,099.5 million yuan
In Q1 2024, Yixintang's operating income was 5,099.5 million yuan, a year-on-year increase of 14.96%, and the net profit attributable to shareholders of listed companies was 242 million yuan, a year-on-year increase of 1.03%.
As of March 31, 2024, it has a total of 10,746 directly-operated chain stores. At the end of the reporting period, the company had a total of 1,281 chronic disease stores, 380 special disease stores and 227 dual-channel qualified stores.