Ribo Fashion Group (603196.SH) released the 2024 annual performance, with a net loss of 159 million yuan, a year-on-year change from profit to loss.

Ribo Fashion Group (603196.SH) released its annual report for 2024, reporting a total operating income of 866 million yuan, a decrease of 15.68% year-on-year. The net loss attributable to shareholders of the listed company was 159 million yuan, turning from profit to loss year-on-year. The net loss attributable to shareholders of the listed company after deducting non-recurring gains and losses was 166 million yuan, turning from profit to loss year-on-year. The basic loss per share was 0.6693 yuan/share. The decrease in operating income during the reporting period was mainly due to factors such as changes in the external consumption environment, the closure of inefficient stores, and adjustments in the product mix for online sales. The reasons for the loss during the reporting period were: first, a decrease in operating income, and significant impact from fixed expenses such as store rent, property management fees, staff salaries, and design and research expenses, leading to a decrease in net profit; second, the company's planned restart of a commercial property construction project, due to re-planning and re-design, some of the costs of the ongoing projects were not usable, and an evaluation showed that the changes would result in a impairment of 72.2587 million yuan in the construction in progress assets.