Listed Company: The First Half Of 2024 Financial Report Of Sima Clothing

At the end of August, Zhejiang Sima Garments Co., Ltd., a domestic leisure and children's clothing listed company, released its semi annual report for 2024. The report shows that from January to June 2024, the company will achieve a total operating revenue of about 5.955 billion yuan, up 7.11% year on year; The net profit attributable to shareholders of the listed company was 553 million yuan, up 7.14% year on year. As of June 30, 2024, the total assets of the company are 16.671 billion yuan, and the net assets attributable to the owners of the parent company are 112.36 yuan.

At present, Sima Garments has two major brands: adult leisure clothing represented by Sima brand and children's clothing represented by Balabala brand. Founded in 1996, Sima brand is positioned as "comfortable experience, quality life", providing tens of millions of families with products with high quality price ratio, cross scene, comfortable and versatile and one-stop shopping experience, and delivering a confident, comfortable and fashionable lifestyle. Balabala brand was founded in 2002. It advocates professionalism, fashion and vitality. It is aimed at the consumer group of children aged 0-14 years old. Its products are targeted at middle income families.

From January to June 2024, the revenue of the leisure clothing sector was 1.814 billion yuan, up 7.66% year on year, of which the gross margin was 38.57%, down 2.07% year on year; In the children's clothing sector, the operating revenue was 4.07 billion yuan, up 6.43% year on year, of which the gross margin was 49.55%, up 3.12% year on year; In other business segments, the operating revenue was 71 million yuan.

From January to June 2024, the online sales revenue will be 2.694 billion yuan, with a year-on-year increase of 3.36%, of which the gross profit margin will be 47.38%, with a year-on-year increase of 5.70%; The direct sales revenue was 703 million yuan, up 4.96% year on year, of which the gross profit margin was 67.17%, down 3.22% year on year; The franchise sales revenue was 2.4 billion yuan, up 11.82% year on year, and the gross profit margin was 38.09%, down 1.45% year on year; The associated sales revenue was 85 million yuan, up 0.29% year on year.

From January to June 2024, the company's operating cost is 3.209 billion yuan, up 4.25% year on year, sales expense is 1.549 billion yuan, up 10.59% year on year, and R&D investment is 117 million yuan, up 17.11% year on year. It is pointed out in the report that the sales expenses are caused by the year-on-year increase of advertising and service fees, and the R&D investment is caused by the year-on-year increase of trial production fees in this period. The R&D investment accounts for 1.96% of the revenue.

At present, Sima Garments has 8140 stores of all kinds in China, including 839 directly operated stores, 7185 franchised stores and 116 associated stores; There are 2703 leisure clothing stores nationwide and 5234 children's clothing stores nationwide. In the trend of stores, the new opening of direct stores and associated stores is on the rise, and the franchised stores keep balance.

In terms of average efficiency, the total area of direct stores is 169108.00 square meters, the average area of a single store is 201.56 square meters, and the average average average efficiency of stores is 4158.65 yuan/square meter/half a year. At present, old stores rank top in terms of operating revenue.

According to the semi annual report, at present, Sima Garments has operated 14 self owned, cooperative, authorized and other brands, from clothing to children's clothing, from children's clothing to baby clothing, to women's clothing and accessories.

According to the semi annual report of Sima Garments, although the semi annual business income and * * * increased, Sima Garments benefited from its brand's inherent market size and brand influence. In the face of the impact of the declining fertility rate, weak consumer market and new e-commerce consumption, Sima Garments needs to make great efforts in inventory control, product research and development, and multi brand operation to start restructuring!