{"id":3553,"date":"2021-05-06T12:00:46","date_gmt":"2021-05-06T04:00:46","guid":{"rendered":"https:\/\/corp.pchome.tw\/en\/?p=3553"},"modified":"2021-08-04T15:26:03","modified_gmt":"2021-08-04T07:26:03","slug":"pchome-online-reports-first-quarter-2021-results-2","status":"publish","type":"post","link":"https:\/\/corp.pchome.tw\/en\/pchome-online-reports-first-quarter-2021-results-2\/","title":{"rendered":"PChome Online Reports First Quarter 2021 Results"},"content":{"rendered":"\t\t
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PChome Online today announced its financial results for the first quarter ended March 31st<\/sup>, 2021.<\/p>\n

We provided the consolidated financial statement and standalone financial statement as follows. The standalone financial statement reflects a clearer picture of the B2C business.\u00a0\u00a0<\/p>\n

\u00a0<\/p>\n

Financial Highlights:<\/strong><\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0The consolidated revenue grew 7.6% YoY to NT$11.5 billion in 1Q 2021, driven by the B2C business (up 8.7% YoY) and Fintech & Other businesses (up 61.5% YoY), more than offsetting the decline in Market Place (down 19.6% YoY).<\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Within the B2C business:<\/p>\n

o\u00a0\u00a0\u00a0The 3C categories grew 13% YoY, thanks to a wide range of new electronic products launched and promoted collectively with brands in the quarter.\u00a0 On the other hand, the non-3C categories stayed broadly flattish on a YoY basis, as the introduction of new life style brands (e.g. MUJI) merely offset the decline in consumer staples such as hygiene products, a result of higher base effect from the pandemic last year.<\/p>\n

o\u00a0\u00a0\u00a0As a result, the non-3C categories\u2019 weighting decreased slightly to 27% in 1Q 2021 from 30% in 1Q 2020, but still higher than level 25% in 4Q 2020. \u00a0<\/p>\n

o\u00a0\u00a0\u00a0Despite the decline in higher-margin non-3C categories\u2019 weighting on a YoY comparison, the B2C business managed to deliver a gross margin of 12.3% in 1Q 2021 (down 0.1% points YoY but up 0.7% points QoQ).<\/p>\n

o\u00a0\u00a0\u00a0With the expanding scale benefits, the B2C business\u2019 operating profit increased by 21.5% YoY in 1Q 2021, with an improved operating profit margin at 2.3% vs. 2.0% in the same period last year.<\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0On Market Place business, the ~20% YoY sales decline, mostly attributed to PChome Store, reflects a continued heightened competition from the rival.\u00a0 However, the margin impact is more manageable, as its operating margin declined by 8% YoY.<\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0On Fintech & Other businesses, the strong 60+% YoY sales growth was mainly driven by the wider usage of Pi Wallet and our cross-border business initiatives, both more than doubled in terms of revenues in 1Q 2021 vs. the same period last year.<\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0The non-operating income of NT$36 million in 1Q 2021 (vs. NT$1 million in 1Q 2020) was mainly due to a revaluation gain from\u00a0Chunghwa PChome Fund I\u2019s portfolio companies.<\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0In 1Q 2021, Net income reached NT$142 million, up 38% YoY, while EPS reached NT$1.17, up 33% YoY.<\/p>\n

\u00a0<\/p>\n

Other Business\u00a0Highlights:<\/strong><\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Marketplace<\/p>\n

o\u00a0\u00a0\u00a0Ruten announced a policy change on April 1st<\/sup>\u00a0to increase take rate and payment service fee.<\/p>\n

o\u00a0\u00a0\u00a0PChomeStore reached a milestone of 120,000 merchants on the platform in early April.<\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Payment<\/p>\n

o\u00a0\u00a0\u00a0Pi is working with Rakuten International Commercial Bank to provide payment solution on its app.<\/p>\n

o\u00a0\u00a0\u00a0Pi Wallet has accumulated 1.1m registered users in 1Q 2021.<\/p>\n

\u2022\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Other<\/p>\n

o\u00a0\u00a0\u00a0MiTCH, the group\u2019s selected apparel platform, has on boarded more than 100 official licensed brands and launched MiTCH Global, a global site to serve customers in Hong Kong, Macau, Singapore and Malaysia, in this quarter.<\/p>\n

o\u00a0\u00a0\u00a0Bibian, the group\u2019s cross-border ecommerce platform, continued its strong growth and showed a positive bottom line in this quarter.\u00a0<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Taipei, May 6th, 2021\u00a0\u2013 PChome Online today announced i …<\/p>\n

PChome Online Reports First Quarter 2021 Results<\/span> Read More »<\/a><\/p>\n","protected":false},"author":7,"featured_media":17754,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[37,9,1],"tags":[],"post_folder":[],"_links":{"self":[{"href":"https:\/\/corp.pchome.tw\/en\/wp-json\/wp\/v2\/posts\/3553"}],"collection":[{"href":"https:\/\/corp.pchome.tw\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corp.pchome.tw\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corp.pchome.tw\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/corp.pchome.tw\/en\/wp-json\/wp\/v2\/comments?post=3553"}],"version-history":[{"count":22,"href":"https:\/\/corp.pchome.tw\/en\/wp-json\/wp\/v2\/posts\/3553\/revisions"}],"predecessor-version":[{"id":17759,"href":"https:\/\/corp.pchome.tw\/en\/wp-json\/wp\/v2\/posts\/3553\/revisions\/17759"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corp.pchome.tw\/en\/wp-json\/wp\/v2\/media\/17754"}],"wp:attachment":[{"href":"https:\/\/corp.pchome.tw\/en\/wp-json\/wp\/v2\/media?parent=3553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corp.pchome.tw\/en\/wp-json\/wp\/v2\/categories?post=3553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corp.pchome.tw\/en\/wp-json\/wp\/v2\/tags?post=3553"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/corp.pchome.tw\/en\/wp-json\/wp\/v2\/post_folder?post=3553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}