Taipingbird Group Released Its 2024 Annual Report, Showing A Sharp Decline In Profits

On March 27, Ningbo Taipingbird Fashion Clothing Co., Ltd., a domestic fashion clothing listed company, released its 2024 annual report. According to the report, Taipingbird Group achieved a total operating revenue of 6.8 billion yuan, down 12.7% year on year, mainly due to the decline in retail sales; Net profit attributable to the parent company was 260 million yuan, down 38.7% year on year; Non net profit deducted was 120 million yuan, down 57.4% year on year.

Core work in 2024

In 2024, Taipingbird Group will focus on improving the operation quality and profitability of stores, continue to close inefficient stores, and turn its business focus to improving the terminal brand image and store efficiency. At the same time, the value orientation of the channel and the key areas for business expansion were clarified, and the channel structure was adjusted around the principle of "lowering floors, expanding areas, and improving efficiency".

In terms of new products, we focus on the multi brand development matrix. Each brand is targeted at different age, style and life attitude segments, complementing each other's advantages, and meeting the diversified needs of contemporary young people. In 2024, Taipingniao master coat series, shirt down, PEACEBIRD X A-COLD-WALL * co branded series and other new products were launched.

In terms of image, it is the third time to vigorously and comprehensively upgrade the visual image, build a brand new flagship store around the "one brand" strategy, and take the "future gathering" as the core design concept. It has opened eight thousand square flagship benchmarks nationwide, which not only highlights the upgrade of Taipingbird's retail strategy, but also brings consumers a new shopping experience.

Performance module

1. By brand: PEACEBIRD Women's Wear: The business income was 2.503 billion yuan, down 13.12% year on year, and the gross profit margin was 56.64%. PEACEBIRD Men's Wear: The operating revenue was 2.784 billion yuan, down 8.56% year on year, and the gross profit margin was 57.42%. LEDiN girls' clothes: The operating revenue was 543 million yuan, a significant year-on-year decline of 28.27%, and the gross profit margin was 47.35%. Mini Peace children's wear: The operating revenue was 828 million yuan, down 13.77% year on year, and the gross profit margin was 56.52%.

2. Divided by channel: direct sales revenue accounts for 42%, franchise revenue accounts for 31%, and online revenue accounts for 27%.

3. By stores: As of the reporting period, the total number of stores under each brand was 3373 (including 477 new stores and 835 closed stores).

4. According to the inventory situation: during the reporting period, the ending net inventory value was 1735610203.70 yuan, an increase of 15.05% over the previous year, and the inventory turnover days were extended to 192 days, an increase of 9 days over the previous year.

Future planning

According to the content of Taipingbird 2024 annual report. In 2025, Taipingbird Group will continue to adhere to the business policy of "high-quality development" and strengthen the concept of "consumer centered". Specific strategies include:

Brand image renewal: comprehensively upgrade its three major brands, and carry out precision marketing for consumer groups of different ages and styles.

Product innovation pilot: improve product competitiveness by focusing on core categories, upgrading the business enterprise model, and increasing R&D investment.

Retail operation quality improvement: optimize the omni channel structure and improve the operational efficiency of direct stores, franchise stores and e-commerce.

Upgrade of supply chain system: promote the transformation of digital intelligence factory, introduce strategic suppliers, and achieve cost control and efficiency improvement.

Despite the double pressure of revenue and profit, Taipingbird Group is taking a series of strategic adjustments and innovative measures to meet the challenges. Peacebird, come on!