According to the Zhitong Finance App, Fulu Holdings (02101) announced the results for the year ended December 31, 2023. The group obtained revenue of RMB 560 million (same unit), an increase of 16.8%; gross profit of RMB 416 million, an increase of 15.9%; profit attributable to the owner of the parent company was RMB 91.614 million, a decrease of 6.4% year on year; and profit per share was 0.23 yuan.
In 2023, the revenue of the Life Services segment increased sharply by 115.9% year-on-year to 121.6 million yuan, accounting for 21.7% of total revenue. In 2023, with the accelerated recovery of the local consumer market, the company focused on laying out and deepening segments such as catering and movie ticketing. By broadening the category boundaries of digital lifestyle products, expanding supply chain cooperation brands, and deepening cooperation through live streaming channels, it effectively leveraged market growth and promoted and facilitated the transactions of more digital products such as milk tea, coffee vouchers, and movie tickets, thus promoting a significant increase in revenue. The gross profit of the Life Services Division increased sharply by 127.0% year over year, and gross margin increased by 3.2% year over year.
The company will continue to refine the construction of live streaming capabilities, focusing on strengthening various aspects such as visual creative design, product innovation and iteration, and customer service, and strive to achieve a significant increase in conversion rate and repurchase rate while enhancing the live broadcast viewing experience. On the basis of stabilizing and deepening the existing business, the company will adopt a cross-platform business layout, seize the growth opportunities of emerging channels, use omnichannel marketing strategies to accurately reach various consumer groups, and actively explore new growth points. The company will further consolidate and deepen its live streaming business penetration in vertical fields such as restaurants, movie ticketing, and digital game products, and further develop local lifestyle service market segments and closely integrate into the Douyin group buying ecosystem. The company will target market breakthroughs with higher return on investment, have a keen insight into market trends, give full play to the company's platform advantages and resources, form a collaborative resonance effect with partners, and jointly plan and implement global marketing strategies covering traditional e-commerce and live e-commerce to help brands dig deeper into market growth and create a better future of shared commercial value.