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，概不會就本公告 全部或任何部份內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 （在中華人民共和國註冊成立的股份有限公司） （股份代號：00980） 公告 董事會會議通告 聯華超市股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會會議 將於二零二五年八月二十八日（星期四）上午九點正舉行，以討論下列事宜： 承董事會命 獨立非執行董事： 夏大慰、李國明、陳瑋及趙歆晟。 1 1. 以考慮及批准本公司及其附屬公司截至二零二五年六月三十日止六個月 的中期業績； 2. 以考慮及批准根據《香港聯合交易所有限公司證券上市規則》將予刊登的 本公司及其附屬公司截至二零二五年六月三十日止六個月的中期業績公 告的草擬稿； 3. 以考慮及批准本公司利潤分配方案，以及宣派、建議或派付本公司的中 期股息（如有）；及 4. 以處理任何其他事項（如有）。 於本公告日期，本公司的董事為： 執行董事： 王曉琰、張慧勤及朱定平； 非執行董事： 濮韶華、沈沉、曹海倫及楊琴； 聯華超市股份有限公司 公司秘書 徐 ...

Group 1: Company Earnings - PCCW (00008.HK) reported a revenue of HKD 18.922 billion for the first half, a year-on-year increase of 7%, with a net loss of HKD 0.445 billion, narrowing by 4% [1] - Xinyi Solar (00968.HK) recorded a revenue of HKD 10.932 billion, a decrease of 6.5% year-on-year, with a net profit of HKD 0.746 billion, down 58.8% [2] - Xinyi Glass (00868.HK) had a revenue of HKD 9.821 billion, a year-on-year decrease of 9.7%, with a net profit of HKD 1.013 billion, down 59.6% [3] - Xinyi Energy (03868.HK) reported a revenue of HKD 1.21 billion, an increase of 7.7% year-on-year, with a net profit of HKD 0.45 billion, up 23.4% [4] - DTXS Silk Road Investment (02510.HK) issued a profit warning, expecting a mid-term net profit of approximately USD 180-200 million, a year-on-year increase of about 220% to 255% [5] - Lianhua Supermarket (00980.HK) issued a profit warning, expecting a mid-term net profit of approximately HKD 25-55 million [6] - Tibet Water Resources (01115.HK) issued a profit warning, expecting a mid-term net profit of approximately HKD 36 million, a year-on-year increase of about 300% [7] - Foton Motor (00420.HK) issued a profit warning, expecting a mid-term net profit of HKD 30.7 million, turning from loss to profit [8] - Hong Kong Travel (00308.HK) issued a profit warning, expecting a mid-term net loss exceeding HKD 70 million, turning from profit to loss [9] - Poly Property Group (00119.HK) issued a profit warning, expecting a mid-term net profit to decline by 40%-50% year-on-year [10] - Kefu Shan Group Holdings (08512.HK) issued a profit warning, expecting a mid-term net profit to decrease to approximately HKD 43-47 million [11] - Mobi Development (00947.HK) issued a profit warning, expecting a mid-term net loss of approximately HKD 32 million [12] - Changmao Biochemical Engineering (00954.HK) issued a profit warning, expecting a mid-term net loss of approximately HKD 24-27 million [13] - Yunyou Holdings (00484.HK) issued a profit warning, expecting a mid-term net loss to increase to approximately HKD 21 million [14] - Weiya Li (00854.HK) issued a profit warning, expecting a mid-term net profit of approximately HKD 15-25 million, turning from loss to profit [15] Group 2: Automotive Sales - BYD Company (01211.HK) reported sales of approximately 2.4903 million new energy vehicles in the first seven months, a year-on-year increase of 27.35% [16] - Great Wall Motors (02333.HK) reported total vehicle sales of approximately 674,200 units in the first seven months, a year-on-year increase of 3.57% [17] - Li Auto (02015.HK) delivered 30,731 new vehicles in July [18] - Geely Automobile (00175.HK) reported total vehicle sales of 237,700 units in July, a year-on-year increase of approximately 58% [19] Group 3: Company News - Sinopec Engineering (02386.HK) signed a front-end engineering design (FEED) contract for a large green hydrogen project in Yanbu, Saudi Arabia, with a contract value expected to reach several billion USD [20] - InnoCare Pharma (02577.HK) partnered with NVIDIA to jointly promote the large-scale implementation of 800 VDC power architecture in AI data centers [21] - Zijin Mining (02899.HK) received parliamentary approval for the mining lease of the Akyem gold mine in Ghana, with a total transaction value of USD 1 billion [22] - Codex-B (02487.HK) received approval from the Hong Kong Department of Health for the listing of CU-40102 (topical finasteride spray) for the treatment of androgenetic alopecia [23] - Mixue Group (02097.HK) subscribed to a wealth management product from Pudong Development Bank, involving an investment of HKD 300 million [24] Group 4: Buyback Activities - Hang Seng Bank (00011.HK) repurchased 200,000 shares at a cost of approximately HKD 22.5922 million, with repurchase prices ranging from HKD 112.4 to 114.3 [25] - Vitasoy International (00345.HK) repurchased 1.844 million shares at a cost of approximately HKD 16.89 million, with repurchase prices ranging from HKD 9.14 to 9.17 [26]

1 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，概不會就本公告 全部或任何部份內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 （在中華人民共和國註冊成立的股份有限公司） （股份代號：00980） 正面盈利預告 本公告乃本公司根據上市規則第13.09(2)條及證券及期貨條例（香港法例第 571章）第XIVA部關於內幕消息之規定而作出。 董事會謹此通知本公司股東及有意投資者，較截至二零二四年六月三十日 止六個月之歸屬於本公司股東之淨虧損約為人民幣5,480.9萬元，本集團預 計截至二零二五年六月三十日止六個月之業績將錄得歸屬於本公司股東之 盈利，盈利幅度約為人民幣2,500.0萬元至人民幣5,500.0萬元。 股東及潛在投資者於買賣本公司股份時務請審慎行事。 本公告乃聯華超市股份有限公司（「本公司」，連同其附屬公司合稱為「本集 團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)條 及證券及期貨條例（香港法例第571章）第XIVA部關於內幕消息（定義見上市規 則）之規定而作出。 於本公告日期，本公司 ...

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7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: 联华超市股份有限公司 呈交日期: 2025年8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) | 00980 | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | | 法定/註冊股本 | | | 上月底結存 | | | 372,600,000 | RMB | | | 1 RMB | | | 372,600,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | | 本月底結存 | | | 372,600,000 | RMB | | | 1 RMB | | | 372,600,000 | | ...

Core Insights - The "2024 China Supermarket TOP100" list shows a slight increase in sales to approximately 900 billion yuan, up 0.3% year-on-year, while the total number of stores decreased by 9.8% to 25,200 stores, indicating challenges in the retail market and a trend towards industry differentiation [1][2][32]. Group 1: Top Enterprises - Walmart (China) continues to lead the list with a sales figure of 158.84 billion yuan, a 19.6% increase from 2023, supported by its strong global supply chain and efficient logistics [4][12]. - The second position is held by Dalian Wanda (RT-Mart) with sales of 76.41 billion yuan, showing a slight growth of 0.3% [2][12]. - Hema (Alibaba's new retail brand) ranks third with sales of 75 billion yuan, achieving a 10% year-on-year growth, reflecting its successful online-offline integration strategy [2][12]. Group 2: Industry Trends - The competition among mid-tier enterprises is intensifying, with some achieving rapid growth through innovative business models while others struggle due to poor management [8][18]. - The digital transformation of supermarkets is advancing, with companies like Walmart and Hema leveraging big data and IoT for improved efficiency and customer experience [31][32]. - The market is witnessing a "Matthew Effect," where top enterprises are gaining more market share, with the top 10 companies accounting for 66.6% of the total sales of the TOP100 list [15][32]. Group 3: Regional Insights - The East China region remains a key battleground for supermarkets, with strong demand for fresh and healthy products driving supply chain upgrades [30]. - The South China region is emerging as a hotspot for community-based enterprises like Qian Dama, which focuses on fresh produce and local consumer needs [30]. Group 4: Future Outlook - The industry is expected to see three major trends: a focus on quality and experience upgrades, deeper digital integration, and accelerated consolidation, with smaller players at risk of being eliminated if they cannot establish competitive advantages [31][32].

Core Viewpoint - The supermarket industry is facing significant challenges in 2024, with many companies reporting declines in revenue and net profit, indicating a pressing need for transformation and adaptation [1][4]. Revenue and Profit Performance - Among 13 listed supermarket companies, 8 experienced a year-on-year decline in revenue, and 9 saw a drop in net profit, with only 2 companies achieving net profit growth while remaining profitable [1][4]. - Yonghui Supermarket reported the highest revenue at 67.574 billion yuan, down 14.07% year-on-year, with a net loss of 1.465 billion yuan, widening by 10.26% [2][4]. - Lianhua Supermarket's revenue fell by 9.7% to 19.71 billion yuan, with a net loss of 359 million yuan, despite closing underperforming stores [2][4]. - Renrenle Supermarket had the largest revenue decline of 49.86%, with revenue at 1.43 billion yuan due to store closures [2][4]. Strategic Adjustments and Transformations - Supermarket companies are implementing "self-rescue transformations" by closing inefficient stores and reducing loss-making operations to alleviate financial pressure [2][6]. - Companies are focusing on creating differentiated product offerings through optimizing product structures and enhancing product quality to meet diverse consumer demands [3][10]. - The trend of closing underperforming stores is common, with Lianhua Supermarket closing over 400 stores in 2024, while Yonghui Supermarket closed more than 200 [6][8]. Focus on Private Labels and Supply Chain - Developing private labels is a key strategy for supermarkets to differentiate themselves and reduce supply chain costs, with Yonghui aiming for private labels to account for 40% of its total sales in the next three to five years [10][11]. - A robust supply chain is essential for the success of private label strategies, enabling cost advantages and quality assurance through scale procurement and efficient logistics [11]. Future Outlook - The next 12 to 18 months are expected to be critical for supermarkets as they implement reforms and optimize their operations, with Yonghui targeting over 300 remodeled stores by early 2026 [7][8].

"美国市场原本大约占我们业务的一半，另一半则是欧盟市场。尽管欧盟市场仍在运营，但未来充满不 确定性，因此我们非常希望有机会能够拓展内销市场。"舟山格林食品有限公司内销主管叶晓萦表 示，"让我们惊喜的是，从开始商谈到商品上架，仅用了三天时间，效率远超预期。" "我们非常重视帮助外贸企业解决困难。"朱敏介绍，从省商务厅会议到公司专题会议，再到与供应商对 接、选品、验厂，并与市场监管部门协同解决标签、准入等问题，我们仅用三天时间就完成常规需要大 概一个月的流程。目前，首批商品已配送至36家门店，下周将快速扩展至200家门店销售。 "这得益于我们第一时间成立的专班，"朱敏表示，联华超市专门成立涉及安全质量、采购、运营、法 务、财务等跨部门专项小组，简化审批流程，与政府部门建立直通渠道，实现问题即时解决。目前，42 家外贸企业正在洽谈中，2家已经入驻上架销售，预估下周7家将入驻售卖。下一步，"我们将引入更多 的优质外贸供应商，通过重点单品让消费者享受到更高品质的商品和服务。" "这个虾吃起来口感很特别，不像那种软绵绵的。相反，它吃上去很有嚼劲，而且味道非常鲜美。这和 我之前吃过的品种感觉完全不同。"正在选购的周阿姨赞不 ...

Company Overview - Lianhua Supermarket operates a total of 3,152 stores across 26 provinces and municipalities in China, maintaining its leading position in the fast-moving consumer goods retail sector[1]. - The total number of stores includes various formats, with significant contributions from regions like Shanghai (1,097 stores) and Zhejiang (491 stores)[2][3]. - The company was the first Chinese retail chain to be listed on the Hong Kong Stock Exchange on June 27, 2003[1]. - As of December 31, 2024, the group operates a total of 3,152 stores, a decrease of 204 stores compared to the end of 2023, with approximately 84.0% located in the Greater East China region[105]. Brand Development and Recognition - The company has expanded its retail formats to include large comprehensive supermarkets, hypermarkets, and convenience stores under various brands, including "Century Lianhua," "Lianhua Supermarket," and "Hualian Supermarket"[1]. - Lianhua Supermarket has been recognized as one of the "Outstanding Franchise Brands" by the China Chain Store & Franchise Association in recent years[1]. - The company has received accolades such as being named a "Demonstration Enterprise for Common Prosperity" by the Zhejiang Provincial Federation of Industry and Commerce[9]. - Lianhua Supermarket's self-developed beef brand "Baili Beef" won the 2024 German iF Design Award, showcasing its commitment to innovation and product development[13]. - Lianhua Supermarket's self-owned brands "800 Li Beef" and "Youxiang" were recognized as "Outstanding Private Brands" for 2024[25]. Financial Performance - The company's revenue for the fiscal year 2024 was approximately RMB 19.71 billion, a decrease of about RMB 2.13 billion or 9.7% compared to the previous year[63]. - Gross profit for the same period was approximately RMB 2.37 billion, down RMB 409 million or 14.7% year-on-year, with a gross margin of 12.03%, a decline of 0.71 percentage points from 12.74% in the previous year[64]. - The net loss attributable to shareholders was RMB 358.77 million, with a net loss margin of 1.82%[55]. - The group reported a cash flow deficit of RMB 825.91 million for the year[55]. - The group's other income and gains amounted to approximately RMB 636 million, an increase of about RMB 128 million, representing a growth of approximately 25.3% year-on-year[67]. Strategic Initiatives - The company is enhancing its supply chain and product strategy by developing key products, optimizing category structures, and improving fresh product capabilities to strengthen market competitiveness[39]. - The company is accelerating its digital transformation strategy, focusing on operational efficiency through digitalization, supply chain optimization, and integrated logistics systems[42]. - The company aims to enhance its core business by transforming large supermarkets into smaller, community-focused formats and upgrading product structures[100]. - The company is focusing on a dual strategy of restructuring and transformation to improve revenue while actively pursuing cost reduction and efficiency enhancement[36]. - The company plans to implement a "3+3" strategy in 2025, emphasizing strategic transformation, supply chain enhancement, and increased digital investment[44]. Store Operations and Changes - The company closed long-term loss-making outlets as part of a strategic adjustment, impacting overall sales scale[63]. - The company sold all equity of three subsidiaries, including Lianhua Supermarket (Jiangsu), for a total consideration of approximately RMB 146 million, with proceeds used to improve working capital[37]. - A total of 257 new stores were opened during the review period, with 168 located in the Yangtze River Delta, accounting for 65.4% of new openings[101]. - The company closed 461 stores, including 121 direct-operated stores and 340 franchise stores, to optimize store structure and improve cost efficiency[101]. - The group opened 231 new supermarket stores during the review period, including 80 direct-operated and 151 franchised stores, while closing 296 stores, resulting in a net decrease of 65 stores[104]. Digital Transformation and Innovation - The company is focusing on digital transformation, aiming to transition from "information-based" to "intelligent" supply chain systems[132]. - The group implemented a digital management platform to enhance operational efficiency and market competitiveness, transitioning from "channel addition" to "digital reconstruction"[110]. - The company has appointed a new Chief Information Officer to lead its digital initiatives and improve data management[192]. - The company is actively pursuing new product development and technological advancements to enhance operational efficiency[191]. Market Challenges and Outlook - The retail environment remains challenging, with intensified competition and changing consumer shopping habits affecting performance[63]. - The company anticipates ongoing challenges in the Chinese economy but remains optimistic about long-term growth trends and consumer behavior shifts towards more rational purchasing decisions[42]. - Emerging consumption trends such as health and wellness are expected to drive future growth opportunities in the retail sector[60]. - The retail industry is expected to experience a recovery opportunity driven by policy changes by 2025, with a focus on performance improvement and transformation of large supermarkets and hypermarkets[138]. Leadership and Governance - Mr. Zhu Dingping appointed as Executive Director and Deputy General Manager of the company starting January 7, 2025[166]. - Mr. Pu Shaohua serves as the President and Deputy Secretary of the Party Committee of Bailian Group, with extensive experience in the seafood and dairy industries[167]. - Ms. Hu Xiao has held various leadership roles at Alibaba Group, contributing to strategic investments and management[169]. - The management team is committed to maintaining a strong governance structure to support strategic decision-making and compliance[193]. Share Issuance and Capital Management - In 2024, the company issued 360 million new domestic shares to Bailian Group, raising approximately RMB 360 million to support business ecosystem transformation and enhance operational capital[36]. - The company plans to issue up to 360,000,000 new domestic shares at a subscription price of RMB 1.00 per share, representing a premium of approximately 249.37% over the H-share closing price of about HKD 0.315 on May 10, 2025[151]. - Approximately 85% of the net proceeds from the share issuance will be used for business ecosystem transformation, with about 39.2% and 35% allocated for supermarket and hypermarket store transformations respectively[153].

Financial Performance - The company's revenue for the year ending December 31, 2024, was approximately RMB 19.71 billion, a year-on-year decrease of about 9.7%[2] - Gross profit amounted to approximately RMB 2.37 billion, down approximately 14.7% year-on-year, with a gross margin of 12.03%, a decline of about 0.71 percentage points[2] - The total comprehensive income reached RMB 4.71 billion, a decrease of approximately 9.3% year-on-year, with a comprehensive income rate of 23.90%, an increase of about 0.12 percentage points[2] - The operating loss was approximately RMB 257 million, an increase in loss of about RMB 29 million year-on-year, while the annual loss attributable to shareholders was approximately RMB 359 million, a decrease in loss of about RMB 432 million year-on-year[2] - The group's total revenue for the year 2024 was RMB 20,970,516,000, a decrease of 10% from RMB 23,255,978,000 in 2023[16] - Sales of goods accounted for RMB 19,710,114,000, down from RMB 21,835,879,000 in the previous year, representing a decline of approximately 9.7%[16] - Revenue from services, including income from suppliers and franchise fees, totaled RMB 1,260,402,000, compared to RMB 1,420,099,000 in 2023, indicating a decrease of about 11.3%[16] - Total revenue for 2024 was RMB 21,411,964 thousand, a decrease of 10.3% from RMB 23,739,445 thousand in 2023[18] - Revenue from product sales was RMB 19,710,114 thousand, down 9.7% from RMB 21,835,879 thousand in the previous year[18] - Revenue from service contracts decreased to RMB 1,260,402 thousand, a decline of 11.3% compared to RMB 1,420,099 thousand in 2023[18] - Rental income from leased shops was RMB 441,448 thousand, down 8.7% from RMB 483,467 thousand in 2023[23] - The performance of the large-scale supermarket segment reported revenue of RMB 9,174,143 thousand, a decrease of 15.0% from RMB 10,777,339 thousand in 2023[27] - The supermarket segment generated revenue of RMB 10,705,355 thousand, down 4.7% from RMB 11,232,233 thousand in the previous year[27] - The convenience store segment's revenue fell to RMB 1,470,005 thousand, a decline of 10.3% from RMB 1,638,780 thousand in 2023[27] - The overall pre-tax loss for 2024 was RMB 251,070 thousand, an improvement from a loss of RMB 589,389 thousand in 2023[27] - The company reported a net loss of RMB 358,765,000 attributable to shareholders in 2024, an improvement from a net loss of RMB 791,317,000 in 2023[39] - The basic loss per share was RMB 0.32, compared to RMB 0.71 in the previous year[3] - The gross profit for the same period was approximately RMB 2.37 billion, down by about RMB 409 million or 14.7% year-on-year, resulting in a gross margin of 12.03%, a decline of 0.71 percentage points from the previous year[53] - Other income for the period was approximately RMB 1.70 billion, a decrease of about RMB 202 million or 10.6% year-on-year, primarily due to a reduction in income from suppliers[54] Store Operations - The company opened 257 new stores during the review period, bringing the total number of stores to 3,152[2] - The company closed 461 stores during the review period, including 121 direct-operated stores and 340 franchise stores, while opening 257 new stores, resulting in a net decrease of 204 stores[82][85] - The company has a total of 3,152 stores as of December 31, 2024, with 84.0% located in the Greater East China region[86] - The supermarket segment opened 231 new stores and closed 296, with a focus on differentiated operations to match consumer trends[85] Financial Position - Non-current assets totaled RMB 11.38 billion, down from RMB 13.39 billion in the previous year[4] - Current assets amounted to RMB 7.92 billion, an increase from RMB 7.60 billion year-on-year[5] - Total liabilities decreased to RMB 19.59 billion from RMB 20.54 billion in the previous year[6] - The group's net current liabilities as of December 31, 2024, were RMB 7,454,930,000, down from RMB 8,505,312,000 in 2023, reflecting a reduction of approximately 12.3%[doc id='7'] - The group has reduced its non-current unrestricted deposits available for withdrawal to RMB 1,690,000,000 from RMB 2,955,015,000 in the previous year, a decrease of about 42.9%[doc id='7'] - Total assets decreased to RMB 19,662,370 thousand in 2024 from RMB 20,989,143 thousand in 2023, reflecting a decline of 6.3%[30] - As of December 31, 2024, accounts payable amounted to RMB 2.77 billion, a decrease from RMB 2.95 billion in the previous year[47] Cost Management - Distribution costs and administrative expenses were approximately RMB 4.71 billion, a decrease of about RMB 362 million or 7.1% year-on-year[2] - Distribution and selling costs were approximately RMB 3.99 billion, a decrease of about RMB 296 million or 6.9% year-on-year, due to enhanced budget management and cost control measures[56] - Administrative expenses were approximately RMB 717 million, down by about RMB 66 million or 8.4% year-on-year[57] - The total employee costs amounted to RMB 1,935,739,000 in 2024, down from RMB 2,171,162,000 in 2023, showing a decrease of about 10.8%[36] Strategic Initiatives - The company plans to enhance its core business by focusing on community-based and small-scale operations, with 5 new large-scale supermarkets opened and 16 closed during the review period[84] - The company aims to improve its supply chain and product competitiveness through deep reforms and continuous innovation[82] - The company has implemented a strategic upgrade in the supermarket segment, establishing a three-tier operational matrix to better serve community needs[85] - The company achieved significant progress in supply chain optimization, reducing inefficient inventory rates and significantly shortening inventory turnover days[89] - The company is committed to enhancing profitability while restructuring and reducing costs through strategic focus on various operational areas[95] - The company initiated a "reform and restructuring" strategic transformation project, focusing on "restructuring + transformation" as a dual-driven strategy[96] - The company is exploring new business models such as live commerce and health economy to improve product reach and efficiency[107] - The company aims to optimize its organizational structure and improve employee incentives to address challenges related to talent shortages and low overall employee income[99] Compliance and Governance - The board of directors has proposed not to distribute a final dividend for the year ending December 31, 2024[109] - The audit committee has reviewed the annual performance for 2024 and confirmed that the results are prepared in accordance with applicable accounting standards and regulations[110] - Deloitte has verified the consolidated financial statements for the year ending December 31, 2024, but does not provide any guarantees regarding the announcement[111] - The company has adopted the Securities Trading Standard Code for all directors and supervisors, ensuring compliance during the review period[112] - The company confirms compliance with the Corporate Governance Code, except for certain deviations regarding the rotation of directors[113] - The company held multiple board meetings and shareholder meetings throughout 2024, with some non-executive directors absent due to other commitments[115][116][118] Related Party Transactions - The company has established a business contract review mechanism to ensure that service terms and prices are in line with market standards[127] - The company will conduct at least two regular reviews annually to assess whether related party transactions are conducted according to the entrusted management agreement and pricing policies[134] - The external auditor will perform an annual audit of the pricing policy and annual caps for related party transactions[136] - Independent non-executive directors will review the implementation and execution of related party transactions annually[136]

Financial Performance - For the first half of 2024, the company's revenue was approximately RMB 10.897 billion, a decrease of about RMB 875 million, representing a decline of approximately 7.4%[9] - The gross profit for the period was approximately RMB 1.252 billion, down by about RMB 235 million, which is a year-on-year decrease of approximately 15.8%[10] - The overall gross margin was approximately 11.49%, a decrease of about 1.14 percentage points compared to the same period last year[10] - Other income for the period was approximately RMB 902 million, a decrease of about RMB 138 million, representing a decline of approximately 13.3%[11] - Other income and gains amounted to approximately RMB 283 million, an increase of about RMB 26 million, which is a rise of approximately 10.1%[12] - The group's pre-tax profit was approximately RMB 18 million, an increase of about RMB 8 million year-on-year[17] - The net loss attributable to shareholders was approximately RMB 55 million, a year-on-year reduction of about RMB 62 million, with a net loss margin of approximately 0.50%, down 0.49 percentage points year-on-year[19] Segment Performance - The supermarket segment recorded revenue of approximately RMB 5.60 billion, a year-on-year decrease of about RMB 99 million, representing a decline of 15.1%[24] - The hypermarket segment's revenue was approximately RMB 4.724 billion, a year-on-year decrease of about RMB 527 million, down 10.0%[21] - The convenience store segment reported revenue of approximately RMB 765 million, a year-on-year decrease of about RMB 58 million, down approximately 7.1%[26] Cash and Assets - As of June 30, 2024, the group's cash and bank balances were approximately RMB 7.392 billion, with a net decrease of about RMB 264 million during the period[20] - Total assets as of June 30, 2024, amounted to RMB 20,002,829 thousand, a decrease from RMB 20,989,143 thousand at the end of 2023[73] - Non-current assets decreased to RMB 11,959,729 thousand from RMB 13,386,445 thousand, primarily due to reductions in property, plant, and equipment[73] - Current assets totaled RMB 8,043,100 thousand, an increase from RMB 7,602,698 thousand, driven by higher cash and cash equivalents[73] - The company’s cash and cash equivalents were RMB 2,373,477 thousand, slightly down from RMB 2,447,620 thousand[73] Cost Management - The group's distribution and selling costs amounted to approximately RMB 1.973 billion, a year-on-year decrease of about RMB 208 million, representing a reduction of approximately 9.5%[13] - Administrative expenses for the group were approximately RMB 324 million, a year-on-year decrease of about RMB 74 million, down approximately 18.5%[14] Strategic Initiatives - The company is actively closing loss-making outlets as part of its strategic adjustments, impacting overall sales volume[9] - The company is focusing on the "silver economy" by launching the "Touch-Care" service brand, integrating community services and elderly care into its daily operations[38] - The company has implemented a marketing strategy that includes seasonal promotions and a membership program, successfully enhancing brand loyalty and increasing sales through various marketing channels[39] - The company has optimized its logistics processes to enhance efficiency and reduce operational costs, implementing standardized operating procedures to minimize losses in cold chain logistics[40] - The company is advancing its transformation strategy towards smaller, community-oriented supermarkets, focusing on fresh and ambient products to enhance the shopping experience[35] Store Operations - The company opened a total of 123 new stores in the first half of 2024, including 41 directly operated stores and 82 franchise stores, with 79 of these new stores located in the Yangtze River Delta region, accounting for 64% of the total[35] - The total number of stores as of June 30, 2024, reached 3,343, with approximately 84% of these stores located in the East China region[36] - The company closed a total of 136 stores during the review period, including 45 directly operated stores and 91 franchise stores, to improve overall network quality[35] Shareholder Information - As of June 30, 2024, Bailian Group holds approximately 25.87% of the company's shares, indicating significant ownership influence[49] - Alibaba Group holds approximately 18.00% of the company's shares, reflecting its strategic interest in the company[49] - The company has conditionally agreed to issue up to 360,000,000 new domestic shares at a subscription price of RMB 1.00 per share, with Baillie Group agreeing to subscribe for these shares[51] Governance and Compliance - The company held its eighth board meeting on May 11, 2024, confirming compliance with the corporate governance code, except for certain deviations noted[64] - The company convened its annual general meeting on June 20, 2024, where several resolutions were passed successfully[66] - The company reported that its financial statements for the six months ending June 30, 2024, were reviewed and found to comply with Hong Kong Accounting Standards[70] - The company’s governance practices are under continuous review to ensure alignment with regulatory requirements[64] Future Outlook - The group plans to respond to China's economic policies aimed at boosting domestic consumption, which is expected to create new growth opportunities in the retail sector[44] - In the second half of 2024, the group will focus on enhancing core capabilities and optimizing supply chains to improve revenue generation[45] - The group aims to accelerate the transformation of its business model and enhance logistics efficiency through digital system construction and talent development[45]