25 Mar 2024
WL Delicious ‘s FY23 revenue increased by 5.2% YoY to Rmb4.87bn. Offline channels contributed Rmb4.36bn in sales, up by 5.2% YoY, with the growth mainly driven by the emerging channels such as O2O and snack specialty retailers, partly offset by the decline in the traditional offline channels. Online channels contributed Rmb510m in sales, up by 5.0% YoY, with sales from online distribution (such as Tmall Supermarket and JD Supermarket) down by 17.2% YoY to Rmb196m while sales from online direct channel (such as self-operated online stores and 3rd party stores such as Tmall, JD.com, Pinduoduo, Douyin etc.) was up by 26.0% YoY to Rmb315m. Breaking down revenue by the product categories, seasoned flour/ vegetable/ bean-based and other products recorded sales of Rmb2.55bn/ Rmb2.12bn/ Rmb0.2bn in FY23, vs. Rmb2.72bn/ Rmb1.69bn/ Rmb0.22bn in FY22.