Operating income reached 2.28 billion yuan! Cotton Times released its 2024 first half financial report

The decline in revenue was mainly due to the fact that the revenue from infection protection products decreased from RMB 730 million in the first half of 2023 to RMB 170 million in the first half of 2024, and the gross profit margin of infection protection products decreased from 53.3% in the first half of 2023 to 20.2% in the first half of 2024.

It is understood that the company is a large health enterprise that mainly achieves coordinated development of medical and consumer sectors through the "Winner Medical" brand and the "Purcotton" brand. Specifically, Winner Medical is a benchmark enterprise in the domestic medical consumables industry, and its main product lines cover traditional wound care and bandaging, high-end wound dressings, operating room consumables, infection protection, and personal health care; Purcotton is a healthy life brand that started with cotton spunlace non-woven fabrics, with "medicine close to life, cotton protects health" as its brand proposition and "medical background, cotton concept, quality gene" as its core competitiveness, including dry and wet cotton wipes, sanitary napkins, baby and children's clothing and supplies, adult clothing, other non-woven/woven products and other products.

According to the financial report, in the first half of 2024, the medical sector achieved an overall operating income of 1.72 billion yuan, a year-on-year decrease of 20.9%, accounting for 43% of the company's overall operating income; the second quarter achieved an operating income of 860 million yuan, a year-on-year increase of 6.6%, and the quarterly revenue growth rate was reversed. Excluding the fluctuations of infection protection products, the conventional medical consumables business achieved an operating income of 1.55 billion yuan in the first half of the year, a year-on-year increase of 7.5%, and the overall development was stable and improving.

All Cotton Times achieved operating income of 2.28 billion yuan, a year-on-year increase of 10.6%, accounting for 57% of the company's overall operating income; of which the second quarter achieved operating income of 1.24 billion yuan, a year-on-year increase of 13.8%, and the overall development maintained a strong upward momentum.In terms of channels, All Cotton Times has diversified its online and offline channels.

Online channels include traditional third-party e-commerce platforms such as Tmall, JD.com, and Vipshop, interest e-commerce platforms such as Douyin and Xiaohongshu, and self-owned platforms such as official websites and mini programs; offline channels are based on direct sales in first- and second-tier cities and accelerated franchise in core third- and fourth-tier cities; at the same time, through offline experience and online repurchase models, multiple channels are deeply integrated and the advantages of multiple platforms are complementary.

Among them, traditional third-party e-commerce platforms grew by more than 15%, and interest e-commerce platforms achieved breakthrough growth (for example, Douyin grew by nearly 80% year-on-year). During the reporting period, offline stores achieved operating income of 700 million yuan, a year-on-year increase of 8.9%.

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