Half-year revenue of 3.519 billion! There are 868 best-selling Amazon stores

Half-year revenue of 3.519 billion! There are 868 best-selling Amazon stores

Revenue increased year-on-year, and the semi-annual report of excellent listed companies is here!

Recently, many cross-border listed sellers have released their revenue for the first half of 2024. Among them, Huakai Yibai performed well, with revenue of 3.519 billion yuan, an increase of 17.6% year-on-year.

Yibai Network has always focused on Amazon as a key platform for its layout. It currently has 868 Amazon online stores, with Amazon revenue reaching 2.56 billion yuan, accounting for 72.75% of its operating income. At the same time, Yibai Network is also working on new platforms such as Temu and Shein, and has achieved some results.

Huakai Yibai's half-year revenue is 3.519 billion, Amazon supports half of the sky

Huakai Yibai's financial report data shows that in the first half of this year, the company achieved operating income of 3.519 billion yuan, an increase of 17.6% year-on-year; however, the net profit attributable to the parent company's owners was 135 million yuan, a decrease of 35%.

The wholly-owned subsidiary Yibai Network has become the absolute source of revenue for Huakai Yibai. In terms of quarters, the operating income in the first quarter of 2024 was about 1.7 billion yuan, and the operating income in the second quarter was about 1.8 billion yuan, with a quarter-on-quarter increase of 7.48%. The net profit attributable to the parent company in the first quarter of 2024 was 101.9502 million yuan, and the net profit attributable to the parent company in the second quarter was 82.9627 million yuan, with a quarter-on-quarter decrease of 18.62%.

The development of new markets and stocking up for the peak season are the main factors for performance changes. At present, Huakai Yibai's sales destinations are mainly in Europe and the United States, and it is also deployed in Asia, Africa and other regions. Yibai Network explores business development in new areas and has successively established multiple business teams, resulting in an increase in labor costs and sales expenses. Among them, employee salaries in sales expenses were 94.7643 million yuan, a year-on-year increase of 22.55%; promotion expenses were 205.9852 million yuan, a year-on-year increase of 34.75%.

It is understood that Yibai Network is also developing emerging platforms and increasing inventory to prepare for the peak season, resulting in a year-on-year increase of 69.21% in inventory. In the first half of the year, the company's warehousing costs were 50.5899 million yuan, a year-on-year increase of 122.39%.

Yibai Network mainly deals in home gardening, automobile and motorcycle accessories, industrial and commercial supplies, health and beauty, 3C electronic products, outdoor sports and other categories. The following is the operating data of the main product categories↓↓↓  

It can be seen that the number of orders sold by Yibai Network's main categories is 36.427 million, and the average sales price of products is 94.21 yuan. Home gardening is Yibai's main source of revenue, with sales revenue of 740 million yuan and orders of 7.7755 million, but the average sales price is 95.26 yuan, which is lower than that of automobile and motorcycle accessories and 3C electronic products.

In the first half of this year, the gross profit margin of Yibai Network's industrial and commercial supplies was 31.87%, a year-on-year decrease of 4.76%. The gross profit margin of automobile and motorcycle accessories also decreased by 0.90% year-on-year to 37.23%. The gross profit margins of home gardening, health and beauty, and 3C electronic products all increased year-on-year.

Yibai Network was once a typical big seller. In recent years, it has followed the cross-border trend and focused on boutique and service training businesses. Public data shows that Yibai Network's boutique business mainly covers four major product lines: cleaning appliances, home appliances, pet supplies, and outdoor expansion. During the reporting period, the boutique business had about 1,284 SKUs on sale, with a sales unit price of about 385 yuan. It is worth noting that the TikTok platform has become a key channel for the company's boutique business growth. Yibai Network's Yimai ecological platform business has also developed very well. At present, Yimai's cooperative merchants have expanded to 219, with operating income of 490 million yuan, a year-on-year increase of 54.11%.

In terms of e-commerce platforms, Amazon is the main source of revenue for Yibai Network. In the first half of this year, Yibai Network added 83 stores on the Amazon platform, and no stores were closed. Currently, it has a total of 868 Amazon stores. Yibai Network achieved sales revenue of 2.56 billion yuan through cross-border export e-commerce business on the Amazon platform, accounting for 72.75% of operating income. The total number of Amazon orders was 18.423 million, and the average order amount was 138.94 yuan.

In terms of emerging platforms, Yibai Network has vigorously expanded popular overseas e-commerce platforms such as Temu and Tik Tok. Except for Amazon, the sales revenue achieved by the company through other third-party platforms will not exceed 13.50% of the operating income in the first half of 2024.

Huakai Yibai fully takes over Tongtuo Technology, and Tongtuo is expected to become the largest profit growth point in the next three years

The second half of the year is the peak season for cross-border e-commerce sales, which means that Huakai Yibai's subsequent revenue data will be much higher than the first half of the year. Based on multiple factors, Huakai Yibai expects its full-year revenue in 2024 to reach 8.84 billion yuan.

In fact, Huakai Yibai remains optimistic about its revenue in 2025 and 2026, and expects to achieve operating income of 11.48 billion yuan and 12.54 billion yuan in these two years, respectively, with net profit attributable to shareholders of 501 million yuan and 611 million yuan .

The continuous growth in revenue has become the most important impression that Huakai Yibai has left on the public. This year, Huakai Yibai's acquisition of Tongtuo Technology has once again sparked heated discussions.

At present, Tongtuo Technology has been transferred to Huakai Yibai, which directly holds 100% of Tongtuo Technology's equity, realizing the full integration of business. Both parties believe that this acquisition will bring about synergy effects in supply chain, channels, categories, etc., and generate scale advantages. Huakai Yibai bluntly stated that if Tongtuo Technology's performance improves, it will further enhance the company's performance.

Tongtuo data has not yet appeared in Huakai Yibai's semi-annual report, but according to objective conditions, we will soon know the specific time and performance of Tongtuo's performance consolidation.

From 2022 to 2023, the revenue of Tongtuo Technology's cross-border e-commerce retail business was RMB 342,463.13 million and RMB 339,482.71 million, respectively, accounting for 99.35% and 99.47% of the operating income, respectively; other business income (income from providing logistics agency services to other companies) was RMB 22,464.9 million and RMB 18,179.1 million, respectively, accounting for less than 1% of the operating income. After deducting non-recurring gains and losses, Tongtuo's net profit attributable to the parent company's owners was RMB -34,094.16 million and RMB -10,661.79 million, respectively, both of which were in a loss state.

It can be seen that Tongtuo has gradually gotten rid of the "quagmire" of Amazon's account blocking, and the situation has improved. Hu Fanjin , founder of Yibai Network and chairman of Huakai Yibai , believe that Tongtuo Technology is expected to become the company's largest profit growth point in the next two to three years.

Huakai Yibai changes its leader, with Yibai Network, a subsidiary of Huakai, taking over as chairman

On August 12, Huakai Yibai held an extraordinary shareholders' meeting and reviewed and approved the "Proposal on the Election of Non-Independent Directors of the Company's Fourth Board of Directors", "Proposal on the Election of Independent Directors of the Company's Fourth Board of Directors", and "Proposal on the Election of Non-Employee Representative Supervisors of the Company's Fourth Board of Supervisors", which means that the company's board of directors and supervisory board have officially completed the election.

The subsidiary Yibai Network is the main source of revenue for Huakai Yibai. Huakai Yibai has "changed its leadership", with Yibai Network founder Hu Fanjin successfully taking over as chairman of the parent company . The previous actual controller Zhou Xinhua was hired as lifetime honorary chairman.

Looking at the many backdoor listing cases of cross-border e-commerce, such as Yibai Network and Huakai Yibai, there are actually only a handful of cases where subsidiaries and parent companies coexist peacefully, or even subsidiaries take the helm of the parent company. The reasons may be complicated, but one thing that cannot be denied is that Yibai Network itself is excellent enough.

Whether it is working hard to maintain the basic market and do a good job in distribution business, or actively following the cross-border development trend and focusing on high-quality products, or vigorously deploying new platforms, Yibai Network has done a very good job.

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