Boqii Holding Ltd
AMEX:BQ
Boqii Holding Ltd
Boqii Holding Ltd. operates as a holding company with interest in operating online pet stores. The company is headquartered in Shanghai, Shanghai and currently employs 325 full-time employees. The company went IPO on 2020-09-30. The firm owns an online platform called Boqii through which it sells pet products under its brands Yoken and Mocare. The company also provides pet products to pet stores and pet hospitals. The firm is involved in online marketing and information services business and place advertisements for brand owners.
Boqii Holding Ltd. operates as a holding company with interest in operating online pet stores. The company is headquartered in Shanghai, Shanghai and currently employs 325 full-time employees. The company went IPO on 2020-09-30. The firm owns an online platform called Boqii through which it sells pet products under its brands Yoken and Mocare. The company also provides pet products to pet stores and pet hospitals. The firm is involved in online marketing and information services business and place advertisements for brand owners.
Revenue Decline: Boqii reported fiscal year 2023 revenue of RMB1.09 billion, down 8% year-over-year, mainly due to lingering COVID-19 disruptions.
Margin Improvement: Gross profit margin improved by 19 basis points to 21.4%, and gross profit reached RMB233.5 million.
Reduced Net Loss: Net loss narrowed by 20.2% to RMB106 million, and non-GAAP net loss shrank by 41.7% year-over-year.
Private Label Growth: Private label revenue rose 19.2% year-on-year, with its gross margin up to 21.4%. Management expects private label to exceed 30% of revenue and a 35% margin in the medium term.
Cost Controls: Sales and marketing expenses dropped 27.5%, and general/admin expenses fell 38.9%, supporting operating improvements.
Positive Outlook: Management expects revenue growth to rebound in fiscal 2024 as COVID-19 impact fades and consumer sentiment improves.
