Listed Company: Taipingbird Annual Report For The First Half Of 2024

Recently, Ningbo Taipingniao Fashion Clothing Co., Ltd. (603877), a domestic women's clothing listed company, released its semi annual report for 2024. From January to June 2024, the company realized an operating revenue of 3.15 billion yuan, a year-on-year decrease of 12.7%; The net profit attributable to the parent company was 170 million yuan, down 31.7% year on year.

According to the report, the decline in operating revenue from January to June 2024 is mainly caused by the decline in retail sales.

Main business by industry

The decline in revenue mainly occurred in clothing operations, that is, the decline in daily brand operations and sales, while clothing manufacturing and other businesses saw a substantial growth.

Brand division of revenue points

In terms of clothing operation business, the brand LEDiN girls' clothing fell 35.23% year on year, the most among the declines; Secondly, mini peace children's clothing, down 13.98% year on year; PEACEBIRD women's clothing and men's clothing, which accounted for the largest proportion of revenue, declined 10.3% and 6.69% respectively year on year.

By sales channel

In terms of channel business, direct sales declined significantly and accounted for a large proportion, which was also the main reason for the decline of Taipingbird's performance. On online sales, Taipingbird's sales revenue from January to June 2024 was RMB 890 million, down 8.06% year on year.

Number of channel stores

According to the data of brand stores, 317 stores will be closed and 124 new stores will be opened during the period from January to June 2024.? Strategically, we will continue to close inefficient stores and focus on improving the terminal brand image and store efficiency.

Inventory management

At the end of the reporting period, the original value of Taipingbird's inventory of goods was 1.43 billion yuan, a year-on-year decrease of 410 million yuan, or 22.1%. According to the report, the improvement of inventory is due to, on the one hand, strengthening the planned control of commodity production and marketing, and optimizing the inventory of new products; On the other hand, we strengthened the special mechanism for digestion and treatment of outdated products, and improved the inventory of old products.

In general, Taipingbird's revenue declined from January to June 2024, and the report data shows that its brands have declined, both online and offline, with LEDiN girls' clothes falling by more than 35.23%, the most.

From the content of the semi annual report in 2024, from the perspective of social marketing and product innovation of Taipingbird, whether it is the grand opening of the first flagship store of Taipingbird brand (Tianyi Square), or the in-depth cooperation of the spokesperson with the Little Red Book platform, Taipingbird children's clothing and The Thief Daddy to create the core category of "super cute T" Peacebird summer high light dress, AIR × PEACE series and Le Ting LEDiN heart dress have not recovered the decline in sales data.

We sincerely hope that in the second half of 2024, Taipingbird will regain the core value and unique charm of the brand and continue to move forward.