It is worth noting that the gross profit margin of the Antarctic e-commerce mobile Internet media platform business fluctuates greatly, but there is a "fight" phenomenon with the net profit in the same period.
First of all, in the fourth quarter of 20 19, Antarctic e-commerce reached a gross profit margin of 58.08% and a net interest rate of 47.95%. This set of data exceeds the gross profit margin and net interest rate of any single season in the history of Antarctic e-commerce.
Secondly, the revenue of Antarctic e-commerce time interconnection business maintained steady growth. In 20 19, the gross profit margin increased by 0.6 1 percentage point to 7.5%, mainly in the second half of the year. Theoretically, it should be explained that the business has maintained a good development trend. But the fact is that the net profit of Antarctic e-commerce Time Interconnect in 20 19 years was 1. 1 1 billion yuan, down 13.3% year-on-year. By 2020, the gross profit margin of Time Internet business will drop by 2.58 percentage points, leaving only 4.92%. At this time, the net profit of Antarctic e-commerce Time Internet increased by 6.98%, reaching1.1.600 million yuan.
Moreover, the growth rate of Antarctic e-commerce GMV is also inconsistent with its revenue growth trend.
In 2020, the statistical GMV of Antarctic e-commerce in various e-commerce channels reached 40.209 billion yuan, a year-on-year increase of 3 1.58%. Brand comprehensive service income only increased by 0.38%. Last year, there was also a gap between the growth rate of GMV of Antarctic e-commerce and the growth rate of brand licensing business. From 20 17 to 20 19, the growth rate of GMV of Antarctic e-commerce platform was 72. 15%, 65.45% and 48.92% respectively, and the growth rate of brand authorized income was 35.28%, 44.74% and 37.89% respectively in the same period. Therefore, the market doubts that its GMV growth rate is too fast, and there is a dealer's "brushing" behavior.
At the same time, the comprehensive service income of Antarctic e-commerce brands is inconsistent with the growth rate of authorized stores. In 2020, the number of authorized e-commerce stores in Antarctica has reached 7,337, an increase of 26.5% compared with 5,800 in 20 19. Moreover, from the perspective of single-store GMV, the single-store GMV of Antarctic e-commerce in 20 19 was 5.25 million yuan, and by 2020, the data has increased to 547 yuan, an increase of 4.2%. Then, why did the comprehensive service income of Antarctic e-commerce brands only increase slightly by 0.38% when the number of single-store GMV and authorized stores increased significantly?
Let's not talk about the data of various fights of Antarctic e-commerce. The difficulties faced by its current main business alone are enough to make investors suspicious, and voting with their feet seems to be the only choice. Antarctic e-commerce once relied on time interconnection to guide online shop platforms, improve operational efficiency and increase added value for Antarctic e-commerce brands. The original closed loop suddenly failed. Time interconnection does not increase revenue, and brand authorization services are hit by the disappearance of Ali platform traffic dividends.