Financial Performance - Total revenue for the year ended December 31, 2025, was RMB 8,316,962,478, a decrease of 13.7% compared to RMB 9,634,058,386 in 2024[8] - The net loss for the year was RMB 129,504,916, compared to a net loss of RMB 150,903,947 in 2024, indicating an improvement of 14.2%[8] - The company reported a significant decrease in investment income, which fell to RMB 2,821,775 in 2025 from RMB 13,082,699 in 2024[8] - The net profit attributable to ordinary shareholders for 2025 was RMB (129,198,635), compared to RMB (160,673,532) in 2024, indicating an improvement in loss[24] - Basic earnings per share for 2025 was (0.31), an improvement from (0.39) in 2024[8] - The company's main business revenue decreased by approximately 13.8%, with retail revenue down by about 19.1% and wholesale revenue down by about 11.7%[48] Operating Costs and Expenses - Total operating costs for 2025 were RMB 8,440,625,707, down from RMB 9,764,922,639 in 2024, reflecting a reduction of 13.5%[8] - The company’s operating costs for 2025 were RMB 6,829,032,556, compared to RMB 7,877,950,035 in 2024, indicating a decrease of approximately 13.3%[21] - Sales expenses for 2025 were RMB 1,230,418,062, a decrease of about 17.33% compared to 2024, primarily due to reduced marketing expenditures[51] - Financial expenses decreased from RMB 115,964,520 in 2024 to RMB 102,431,663 in 2025, mainly due to a reduction in financing scale[53] - Income tax expenses decreased from RMB 22,883,942 in 2024 to RMB 8,017,658 in 2025, attributed to a decline in overall profit due to market conditions[54] Assets and Liabilities - Current assets decreased to RMB 4,116,417,930 in 2025 from RMB 4,699,606,788 in 2024, a decline of 12.4%[5] - Total liabilities decreased to RMB 4,614,191,359 in 2025 from RMB 5,355,803,036 in 2024, a reduction of 13.8%[6] - The total assets as of December 31, 2025, were RMB 6,087,803,400, down from RMB 6,977,601,311 in 2024[26] - As of December 31, 2025, the company's total liabilities amounted to RMB 2,413,759,881, with an asset-liability ratio of approximately 75.79%[59][58] Inventory and Receivables - The inventory level decreased to RMB 1,320,044,887 in 2025 from RMB 1,672,686,872 in 2024, a reduction of 21%[5] - Accounts receivable totaled RMB 984,453,447 as of December 31, 2025, with 67% (RMB 660,724,222) being within one year[14] - The company’s credit loss provision for accounts receivable was RMB 103,666,997, representing 10.5% of total accounts receivable[14] Shareholder Information - The company did not declare any cash dividends for the fiscal years 2023 and 2024, and it is proposed not to distribute dividends for 2025[19] - The board of directors has recommended not to distribute a final dividend for the fiscal year 2025, considering the net loss attributable to the parent company of RMB (129,198,635)[73] - The 2025 Annual General Meeting (AGM) will be held on May 15, 2026[77] - Proposed amendments to the company's articles of association include adjustments to the business scope and the introduction of electronic voting for shareholder meetings[75] Business Operations and Strategy - The company focused on enhancing fresh product categories, improving quality and supply stability, and introducing mid-to-high-end seafood products[31] - The company implemented systematic optimization of product structure, reducing procurement costs and enhancing store competitiveness[32] - The group enhanced member operations, leading to an increase in average monthly shopping frequency to over 4 times, with member sales accounting for 56% of total sales[35] - The group launched over 1,100 exclusive member products, significantly enhancing customer loyalty and satisfaction[35] - The group successfully entered the group meal service market, establishing a reliable service system and securing contracts with regional educational institutions[42] Store Operations - As of December 31, 2025, the total number of retail stores was 83, with a net operating area of 88,649 square meters[28] - The company closed 1 hypermarket, 10 supermarkets, and 6 convenience stores during the reporting period due to lease expirations and strategic adjustments[29] - The group's retail main business revenue decreased by approximately 19.1% to RMB 2,044,087,000 in 2025, primarily due to the closure of certain stores as part of a strategic adjustment[39] Market and Competitive Position - The wholesale segment reported revenue of RMB 5,352,728,872 in 2025, a decrease of 11.7% from RMB 6,063,476,596 in 2024[22] - The wholesale main business revenue decreased by 11.7% to RMB 5,352,729,000 in 2025, with a gross margin of 5.1%, down from 6.1% in 2024[44] - The logistics division was restructured into a logistics business unit, achieving a strategic transformation from a "cost center" to a "profit center" through operational efficiency improvements[37] - The group actively promoted the marketization of its logistics capabilities, creating new revenue streams through partnerships with external clients[43] Future Outlook - The company aims to enhance service quality in 2026, focusing on brand value, operational efficiency, and creating reliable community consumption scenarios[67] - The wholesale business will focus on digital transformation and enhancing the "Chaobi Mall" platform to improve service quality and operational efficiency[68]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而 產生或因依賴該等內容而引致之任何損失承擔任何責任。 董事會會議通告 北京京客隆商業集團股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，將於2026年3 月27日（星期五）在中華人民共和國北京朝陽區酒仙橋路39號樓309室舉行董事會會議，以 商討下列事務： 承董事會命 北京京客隆商業集團股份有限公司 潘學敏 BEIJING JINGKELONG COMPANY LIMITED * 814 公司秘書 中華人民共和國，北京 2026年3月6日 於本公告公佈之日，本公司之執行董事為張立偉先生、王虹女士、張紅波先生及楊文生 先生；非執行董事為張彥女士及李穎女士；獨立非執行董事為葛文達先生、王利平先生 及何明珂先生。 * 僅供識別 1. 考慮及酌情核准（如認為適當）本公司及附屬公司（統稱「本集團」）截至2025年12月31 日止年度之經審計合併業績（「年度業績」）及於香港聯合交易所有限公司網站及本公 司網站公告刊發年度業績公告； 2. 考慮及酌情建議（如認為適 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年2月28日 狀態: 新提交 FF301 致：香港交易及結算所有限公司 公司名稱: 北京京客隆商業集團股份有限公司 呈交日期: 2026年3月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00814 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 182,160,000 | RMB | | 1 RMB | | 182,160,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 182,160,000 | RMB | | 1 RMB | | 182,160,000 | | 2. 股份分類 | 普通股 | 股份類別 | 其他 ...

Core Viewpoint - Beijing Jingkelong (00814.HK) has reported a decline in revenue and an increase in losses for the mid-year 2025, indicating challenges in both retail and wholesale operations [1]. Group 1: Business Performance - For the mid-year 2025, the company reported a revenue of 4.39 billion yuan, a year-on-year decrease of 11.53% [1]. - The loss attributable to shareholders reached 109 million yuan, with a year-on-year increase of 19.11% [1]. - Retail business revenue fell by 20.9%, primarily due to the expiration of leases and strategic adjustments leading to the closure of several stores [1]. - Wholesale business revenue decreased by 5.0%, impacted by fluctuations in the liquor supply chain and channel adjustments [1]. Group 2: Company Operations - As of June 30, 2025, the company operated 91 retail stores, including 83 directly operated and 8 franchised stores [2]. - During the reporting period, the company closed 4 comprehensive supermarkets and 5 direct convenience stores due to strategic adjustments, with no new stores opened [2]. - This adjustment reflects the company's ongoing optimization process in its retail business [2]. Group 3: Financial Condition - The annual report for 2024 indicated a slight revenue increase of 1.76% to 9.634 billion yuan, but the net loss attributable to shareholders was 161 million yuan, which widened compared to the previous year [3]. - Operating cash flow improved to 288 million yuan, compared to a negative 375 million yuan in the previous year [3]. - However, the current ratio was 0.98 and the quick ratio was 0.63, indicating low liquidity levels [3].

FF301 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00814 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 182,160,000 | RMB | | 1 RMB | | 182,160,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 182,160,000 | RMB | | 1 RMB | | 182,160,000 | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 北京京客隆商業集團股份有限公司 呈交日期: 2026年2月2日 I. 法定/註冊股本變動 | 2. 股份分類 | 普通股 | 股份類別 | 其他 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 北京京客隆商業集團股份有限公司 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | H | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00814 | 說明 | | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 182,160,000 | | 0 | | 182,160,000 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | | | | 182,160,000 | | 0 | | 182,160,000 | 呈交日期: 2026年1月5日 I. ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 北京京客隆商業集團股份有限公司 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 呈交日期: 2025年12月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00814 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 182,160,000 | RMB | | 1 RMB | | 182,160,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 182,160,000 | RMB | | 1 R ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 呈交日期: 2025年11月3日 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 北京京客隆商業集團股份有限公司 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00814 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 182,160,000 | RMB | | 1 RMB | | 182,160,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 182,160,000 | RMB | | 1 RMB | | 182,160,000 | | 2. 股份分類 | 普通股 | 股份類別 | ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 致：香港交易及結算所有限公司 公司名稱: 北京京客隆商業集團股份有限公司 呈交日期: 2025年10月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00814 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 182,160,000 | RMB | | 1 RMB | | 182,160,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 182,160,000 | RMB | | 1 RMB | | 182,160,000 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | | 於香港聯交所上市 ...

Financial Performance - The company's main business revenue for the six months ended June 30, 2025, was approximately RMB 3,984,419,068.29, a decrease of about 9.82% compared to the same period last year[14]. - Gross profit was approximately RMB 343,063,173.31, an increase of about 1.1% year-on-year[14]. - Total profit amounted to approximately RMB -117,298,246.46, a decrease of about 42.95% compared to the previous year[14]. - Net profit attributable to the parent company was approximately RMB -109,054,958.34, a decrease of about 19.11% year-on-year[14]. - Retail business revenue decreased by approximately 20.9%, primarily due to store closures resulting from lease expirations and operational strategy adjustments[25]. - Wholesale business revenue declined by about 5.0%, influenced by fluctuations in the upstream supply chain and market price adjustments[31]. - The group's total revenue for the six months ended June 30, 2025, was RMB 3,984,419, a decrease of 9.8% compared to RMB 4,418,443 in 2024[33]. - The group's gross profit increased by approximately 1.1%, with a gross margin of 8.6% compared to 7.7% in the previous year[35]. - Net profit attributable to the parent company decreased by approximately 19.1%, with a net profit of RMB -109,055, compared to RMB -91,562 in the previous year[36]. - The net loss for the first half of 2025 was RMB 115,354,949.31, compared to a net loss of RMB 85,736,636.26 in the first half of 2024, reflecting an increase in losses of approximately 34.5%[75]. - The operating profit for the first half of 2025 was RMB -117,575,343.44, worsening from RMB -82,958,606.58 in the same period of 2024[75]. - Basic earnings per share for the first half of 2025 were RMB -0.26, compared to RMB -0.22 in the first half of 2024[77]. Store Operations - As of June 30, 2025, the total number of retail stores was 91, including 83 directly operated stores and 8 franchised stores, with a total net operating area of approximately 99,218 square meters[16]. - During the reporting period, the company closed 4 comprehensive supermarkets and 5 directly operated convenience stores due to lease expirations and operational strategy adjustments[16]. - The company focused management efforts on high-potential stores by closing unprofitable locations, aiming to enhance brand image and customer experience[19]. Supply Chain and Product Management - The company enhanced its supply chain by increasing the penetration rates of vegetables, fruits, meat, and eggs compared to the previous year, and upgraded its targeted product categories[17]. - The company implemented a "last place elimination" mechanism to phase out inefficient suppliers and slow-moving products, further optimizing its product structure[18]. - Gross margin for the retail business improved from 15.3% in 2024 to 16.6% in 2025, driven by enhanced product category management and supply chain optimization[27]. Community Engagement and Brand Building - The company organized nearly 200 community outreach activities to expand brand influence through the "Jingkelong Supermarket into the Community" initiative[19]. - The group plans to enhance customer experience and employee satisfaction while focusing on brand building and core business optimization in the retail sector[49]. Financial Position and Assets - As of June 30, 2025, the group's non-current assets amounted to RMB 2,120,597,205.08, with non-current liabilities at RMB 466,236,230.53[38]. - The group's current assets totaled RMB 4,287,817,607.75, primarily consisting of cash and cash equivalents of RMB 886,615,327.25, inventory of RMB 1,348,518,720.93, and accounts receivable of RMB 1,026,066,987.90[38]. - The total liabilities to assets ratio was approximately 76.8% as of June 30, 2025, slightly up from 75.9% a year earlier[40]. - The total debt to equity ratio was approximately 3.3 times as of June 30, 2025[41]. - The group had a total borrowing of RMB 2,645,639,091.44, with interest rates ranging from 2.35% to 4.50%[39]. - As of June 30, 2025, total assets amounted to RMB 6,408,414,812.83, a decrease from RMB 6,977,601,312.59 as of December 31, 2024, reflecting a decline of approximately 8.16%[69]. - Current assets totaled RMB 4,287,817,607.75, down from RMB 4,699,606,788.48, indicating a decrease of about 8.74%[69]. - Total liabilities decreased to RMB 4,920,652,805.69 from RMB 5,355,803,037.64, representing a reduction of approximately 8.12%[71]. - Current liabilities were RMB 4,454,416,575.16, down from RMB 4,799,784,477.83, showing a decline of around 7.17%[71]. - Non-current assets totaled RMB 2,120,597,205.08, down from RMB 2,277,994,524.11, reflecting a decrease of about 6.91%[69]. - Cash and cash equivalents increased to RMB 886,615,327.25 from RMB 652,046,262.73, marking an increase of approximately 36.00%[69]. - Accounts receivable decreased to RMB 1,026,066,987.90 from RMB 1,243,392,844.39, indicating a decline of about 17.50%[69]. - Inventory decreased to RMB 1,348,518,720.93 from RMB 1,672,686,872.12, reflecting a reduction of approximately 19.39%[69]. - Shareholders' equity totaled RMB 1,487,762,007.14, down from RMB 1,621,798,274.95, indicating a decrease of about 8.25%[71]. - The company reported a decrease in retained earnings from RMB 139,088,761.53 to RMB 30,033,803.19, a decline of approximately 78.42%[71]. Cash Flow and Financing Activities - Cash flow from operating activities generated a net amount of RMB 732,393,128.20 in the first half of 2025, compared to RMB 458,097,829.28 in the same period of 2024, indicating a positive trend[82]. - Total cash and cash equivalents at the end of the first half of 2025 amounted to RMB 864,342,094.59, an increase from RMB 583,581,883.27 at the end of the first half of 2024[84]. - Cash inflow from financing activities was RMB 1,251,893,677.32 in the first half of 2025, down from RMB 1,921,058,889.58 in the same period of 2024, reflecting a reduction in borrowing[84]. - The company experienced a net cash outflow from investing activities of RMB 10,013,430.89 in the first half of 2025, an improvement from RMB 28,430,118.30 in the same period of 2024[82]. - Cash inflow from financing activities was RMB 200,000,000.00, a decrease of 50% compared to RMB 400,000,000.00 in the same period last year[88]. - Net cash flow from financing activities was negative at RMB -26,577,764.46, an improvement from RMB -283,458,136.67 in the first half of 2024[88]. Compliance and Governance - The audit committee reviewed the group's accounting principles and methods, confirming compliance with applicable accounting standards and legal requirements for the six months ending June 30, 2025[56]. - All directors confirmed compliance with the securities trading standards during the reporting period[55]. - The interim financial statements were prepared in accordance with enterprise accounting standards and fairly reflect the company's financial position as of June 30, 2025[68]. - The audit report did not identify any matters that would indicate the interim financial statements were not prepared in accordance with accounting standards[68]. Shareholder Information - As of June 30, 2025, major shareholder Beijing Chaofu State-owned Assets Management Limited holds 167,409,808 shares, representing approximately 72.77% of the total issued domestic shares[59]. - China Galaxy International Asset Management holds 24,970,000 H shares, accounting for approximately 13.71% of the total issued H shares[60]. Accounting Policies and Estimates - The financial statements are prepared based on the accounting standards issued by the Ministry of Finance, reflecting the financial position as of June 30, 2025[101]. - The company evaluates its ability to continue as a going concern for 12 months from the reporting date, with no significant doubts identified[99]. - The company adheres to the accounting policies and estimates in accordance with the relevant accounting standards, ensuring a true and complete reflection of its financial results[101]. - The company did not report any changes in accounting policies or prior period error corrections during the reporting periods[93]. Revenue Recognition - Revenue is recognized when the company fulfills its performance obligations, meaning when customers obtain control of the related goods or services[191]. - The transaction price is determined based on the expected consideration the company has the right to receive, excluding amounts collected on behalf of third parties and expected refunds[192]. - For performance obligations fulfilled over time, revenue is recognized based on the progress of completion, using either the output method or input method to determine progress[193]. - The company recognizes revenue from retail sales when the product is sold to consumers and the payment rights are obtained[195]. - Wholesale sales revenue is recognized when the product is dispatched and accepted by the customer, along with the rights to receive payment[195]. Employee Compensation and Benefits - Employee costs for the reporting period amounted to RMB 327,370,218.17, compared to RMB 323,702,437.00 in the same period last year[46]. - Short-term employee compensation is recognized as a liability during the accounting period in which services are provided, including social insurance and housing fund contributions calculated based on specified bases and ratios[184]. - The company pays basic pension and unemployment insurance for employees according to local regulations, recognizing the amounts as liabilities during the service period[185].