Shanghai Laiyifen (603777.SH) has issued a forecast of a net loss of approximately 86 million yuan in 2024.

Shanghai Laiyifen (603777.SH) announced that, according to preliminary estimates by the financial department, it is expected to achieve a net profit attributable to shareholders of the listed company of approximately -86 million yuan in 2024, which is a decrease of about 143.05 million yuan compared to the same period last year (as per statutory disclosure data), representing a decrease of around 251% year-on-year. The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses is expected to be around -76 million yuan, a decrease of about 87.7 million yuan compared to the same period last year (according to statutory disclosure data), representing a decline of about 750% year-on-year. In 2024, the company's main business faced challenges in its main sales areas due to market conditions, leading to a decrease in sales in the East China region. At the same time, strategic adjustments in some sales channels and optimization of operating models resulted in performance during the transition period not meeting expectations. Starting from the third quarter of this year, the company responded to market demands by launching new store formats and optimizing some stores.