Cover reporter Meng Mei Fu Wenchao
On the evening of May 21, the parent company of RT Mart, Gaoxin Retail, released its performance report for the fiscal year 2024 as of March 31, with revenue of 72.567 billion yuan, a year-on-year decrease of 13.3%, and net profit attributable to the parent company of 1.668 billion yuan. In the fiscal year, online B2C orders increased by 4.8%.
Huang Mingduan, chairman of Gaoxin Retail, said: "Increasing revenue and reducing cost is the top priority, and turning losses into profits is the company's first goal". "The Group is moving fast, returning to the essence of retail, returning to the original intention and foundation established by RT Mart, reshaping the mentality of price power, and returning to revenue growth," said Shen Hui, executive director and CEO of Gaoxin Retail.
In the past year, the online and offline competition faced by the retail industry has become more intense. While closing some loss making stores, Gaoxin Retail is still opening high-quality stores. During the fiscal year, Gaoxin Retail opened 6 RT Mart stores, 14 RT Mart Super stores and 3 M member stores, and 507 stores in 212 cities.
In the offline oriented supermarkets, Gaoxin Retail has gained good online capabilities, laying a solid foundation for omni channel development. During the reporting period, its own APP RT Mart Youxian accounted for about 36% of online B2C revenue. The overall order volume of online B2C increased by 4.8% year on year. Although customer orders declined by 2.7% due to the decline of customers' stocking mentality, the revenue still increased by 2% year on year.
In the fiscal year, M member store opened its first store nationwide, and the renewal rate of members in Yangzhou's first store reached the expectation. The cumulative number of paid members nationwide is about 140000, and the total number of members is nearly 240000.
In terms of cost reduction and efficiency increase, the cost and expenditure were 20.429 billion yuan, a decrease of 450 million yuan over the same period. If the impact of impairment is not considered, the expenses and expenses will decrease by 1.414 billion yuan over the same period.
The financial report shows that Gaoxin Retail will actively promote the development of multiple formats and omni channels. As the second growth curve, the super format RT Mart Super and M Club will accelerate the opening of stores in the new fiscal year. In the new fiscal year 2025, 13 locations have been identified to open RT Mart Super, and 4 M member stores have been launched, respectively in Changshu, Jiaxing, Wuxi and Jiangyin.
Based on the confidence in the future development of the company, Shen Hui said: "Gaoxin Retail will rely on the years of accumulation of RT Mart, give full play to its advantages, focus on the stable growth of revenue scale, continue to polish and optimize the profit model of membership stores, accelerate the optimization of regional layout and improvement of tail stores, and turn losses into profits. Let customers get real profits and high-quality goods, let employees unite, and let RT Mart become a thriving organism. "
