Financial Performance - Total operating revenue for the six months ended June 30, 2025, was RMB 1,962.8 million, an increase of 0.9% compared to RMB 1,944.7 million in the same period last year[2] - Same-store sales decreased by 18.4% during the period[3] - Total sales revenue (including VAT) for the period was RMB 4,155.3 million, a year-on-year decrease of 11.5%[3] - Operating profit for the period was RMB 257.6 million, an increase of RMB 63.8 million compared to RMB 193.8 million in the same period last year[3] - Profit attributable to owners of the company was RMB 22.5 million, compared to a loss of RMB 18.6 million in the same period last year[3] - Total sales revenue for the six months ended June 30, 2025, was RMB 3,767,506 thousand, a decrease of 10.8% compared to RMB 4,222,156 thousand for the same period in 2024[13] - Self-operated sales amounted to RMB 884,586 thousand, down 11.1% from RMB 995,320 thousand in the previous year[14] - Total revenue from franchise sales commissions was RMB 293,836 thousand, a decrease of 15.4% from RMB 347,495 thousand in 2024[14] - Other operating income increased to RMB 347,087 thousand, up 54.3% from RMB 224,942 thousand in the previous year[16] - The company reported a pre-tax profit of RMB 22,468 thousand for the six months ended June 30, 2025, compared to a loss of RMB 18,641 thousand in the same period of 2024[27] - Total merchandise sales for the first half of 2025 amounted to RMB 2,983.1 million, a decrease of 17.6% compared to RMB 3,620.2 million in the same period of 2024[40] - The gross margin for merchandise sales increased from 13.2% in the first half of 2024 to 13.6% in the first half of 2025[41] - Operating income rose by 0.9% to RMB 1,962.8 million in the first half of 2025, compared to RMB 1,944.7 million in the same period of 2024[42] - The pre-tax profit for the first half of 2025 was RMB 60.2 million, compared to a pre-tax loss of RMB 17.8 million in the same period of 2024[51] Assets and Liabilities - Total assets as of June 30, 2025, were RMB 8,305.6 million, compared to RMB 8,500.3 million as of December 31, 2024[9] - Non-current assets amounted to RMB 8,305.6 million, with property, plant, and equipment valued at RMB 2,585.7 million[9] - Current liabilities totaled RMB 2,402.7 million, with trade payables at RMB 423.7 million[10] - The company reported a net asset value of RMB 3,139.9 million as of June 30, 2025, compared to RMB 3,087.1 million as of December 31, 2024[10] - As of June 30, 2025, accounts receivable amounted to RMB 1,151,638,000, with interest rates ranging from 6.6% to 16.0%[29] - The aging analysis of accounts payable shows a total of RMB 423,656,000 as of June 30, 2025, down from RMB 586,181,000 as of December 31, 2024[30] - As of June 30, 2025, the total debt to total assets ratio was 26.5%, up from 24.7% as of December 31, 2024[55] - As of June 30, 2025, the group has pledged trade receivables amounting to RMB 529.1 million, with net values of pledged buildings, investment properties, and leased land at approximately RMB 1,304.0 million, RMB 513.2 million, and RMB 299.2 million respectively, to secure general bank loans[58] - The group has also pledged uncollected receivables of RMB 132.5 million due within 48 months as collateral for general interest-bearing bank loans[58] Employee and Operational Costs - Total employee costs increased to RMB 252,821 thousand, up 5.5% from RMB 239,663 thousand in the previous year[19] - Employee costs increased by 5.5% to RMB 252.8 million in the first half of 2025, compared to RMB 239.7 million in the same period of 2024[44] - Other operating expenses rose by 15.4% to RMB 400.3 million in the first half of 2025, up from RMB 346.8 million in the first half of 2024[47] Strategic Initiatives - The company plans to open a shopping center in Mianyang, Sichuan Province, which will be its fifth store in the city, aiming to enhance customer shopping experiences[37] - The company is focused on operational enhancements to adapt to changing consumer preferences, including optimizing brand portfolios and creating experiential shopping environments[35] - The company is actively seeking strategic business expansion opportunities despite the complex economic environment, aiming to capture growth in existing regions[38] Governance and Compliance - The company has fully complied with the corporate governance code as stipulated in the Hong Kong Stock Exchange Listing Rules during the six months ended June 30, 2025[61] - The company has adopted the standard code for securities transactions by directors as per the Listing Rules, with all directors confirming compliance during the six months ended June 30, 2025[62] - An audit committee has been established to review financial reports, internal controls, and maintain appropriate relationships with external auditors, having reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2025[63] - The mid-term report for the six months ended June 30, 2025, will be published on the Stock Exchange and the company's website, containing all information required by the Listing Rules[64] Dividends - The company declared an interim dividend of RMB 0.02 per share[4] - The company will pay an interim dividend of RMB 0.02 per share, with payment scheduled for October 15, 2025[9] Impairment and Subsidies - The company recognized a net impairment loss of RMB 24,400 thousand related to goodwill, compared to RMB 8,258 thousand in the previous year[20] - The company received government subsidies amounting to RMB 3,135 thousand, significantly higher than RMB 1,555 thousand in the previous year, reflecting its contribution to the local economy[17]

Group 1 - The core point of the news is the termination of the long-term partnership between Baisheng Commercial and China Arts and Crafts Group, indicating a shift in the commercial landscape and urban renewal process in Beijing [1][3][4] - Baisheng Commercial will terminate leasing contracts for multiple floors and areas with a total area of approximately 17,240 square meters, with the termination date set for January 1 next year [3][4] - Baisheng Commercial is required to pay a penalty of 11.7012 million yuan to China Arts and Crafts Group, with additional penalties for late payment [3][4] Group 2 - The financial performance of Baisheng Group has been declining, with net profits dropping significantly from 2020 to 2024, except for a slight increase in 2023 [4] - The exit of Baisheng from the partnership reflects the challenges faced by traditional department stores in adapting to new retail trends and consumer preferences [6][8] - The transformation of old department stores in Beijing is part of a broader trend towards experiential retail, moving away from traditional sales models [8][9] Group 3 - China Arts and Crafts Group plans to upgrade the properties, focusing on cultural space innovation, asset value reconstruction, and IP ecosystem evolution [1][7] - The upcoming renovation of the China Arts and Crafts Building aims to position it as a cultural landmark along Chang'an Avenue, catering to high-net-worth individuals [7][10] - The urban renewal process in Beijing is evolving into a "cultural+" model, emphasizing the integration of culture and commerce [9][10]

Group 1 - The core point of the news is the termination of the long-term partnership between Baisheng Commercial and China Arts and Crafts Group, indicating a shift in commercial relationships and urban renewal processes towards a "cultural +" driven model [1][3][8] - Baisheng Commercial will terminate leasing contracts for multiple floors and areas with China Arts and Crafts Group, covering a total area of approximately 17,240 square meters, with the termination date set for January 1, 2026 [3][7] - Baisheng Commercial is required to pay a penalty of 11.7012 million yuan to China Arts and Crafts Group, with additional daily penalties for late payment [3][7] Group 2 - The performance of Baisheng Group has been declining, with net profits dropping significantly from 250 million yuan in 2020 to 175 million yuan in 2024, except for a slight increase in 2023 [7] - The exit of Baisheng from the market reflects a broader trend of traditional department stores struggling to adapt to new retail models and consumer preferences, leading to their decline [8][10] - The transformation of old department stores in Beijing is part of a larger urban renewal trend, with a focus on integrating cultural elements and modern leisure culture into commercial spaces [11][12] Group 3 - The upcoming renovation of the China Arts and Crafts Group building, set to start in 2026, aims to redefine its commercial value through cultural innovation and asset restructuring [9][13] - The urban renewal process is evolving into a "cultural operation +" model, emphasizing the monetization of cultural IP and the integration of culture with commerce [12][13] - The future of department stores is shifting from traditional sales models to experience-oriented spaces that offer unique consumer experiences and cultural engagement [10][13]

智通财经APP讯，百盛集团(03368)发布公告，于2025年8月20日，租客(公司间接全资附属公司绵阳上马 百盛广场商业管理有限公司)与业主(绵阳新投实业有限责任公司)订立合作协议，据此，订约方已同意就 物业租赁的条款，包括将物业用作为期20年的商业运营。 物业 为中国四川省绵阳市绵阳科技城新区上马功成人才公寓项目第五层物业。 集团的主要业务为经营及管理主要位于中国的百货店、购物广场、奥特莱斯及超市网络。董事会认为， 租赁为集团在中国四川省绵阳市拓展业务的主要驱动力，且与集团在四川省的战略发展规划高度契合。 物业位于绵阳市战略位置，其已发展为活力商圈，经济潜力持续提升。鉴于物业的黄金地段及可观前 景，董事会相信，租赁将助力集团于四川省的长远发展。 ...

物业：中国四川省绵阳市绵阳科技城新区上马功成人才公寓项目第五层物业。 格隆汇8月20日丨百盛集团(03368.HK)公告，于2025年8月20日，租客（公司的间接全资附属公司）与业 主订立合作协议，据此，订约方已同意就物业租赁的条款，包括将物业用作为期20年的商业运营。 ...

Core Insights - The partnership between Baisheng Commercial and China Arts and Crafts Group has officially ended, with Baisheng terminating multiple lease contracts ahead of schedule [1][4] - Baisheng Commercial will pay a penalty of 11.7012 million yuan for the early termination of the lease, which involves approximately 17,240 square meters of property [4] - The termination of the lease is part of a broader trend of urban renewal in Beijing, focusing on "cultural+" as a core driver for development [1][12] Company Summary - Baisheng Commercial has faced declining performance, with net profits dropping from 250 million yuan in 2020 to 175 million yuan in 2024, with only a slight increase in 2023 [10] - The decision to terminate the lease may be a strategic move to reduce operational costs and optimize asset allocation amid ongoing financial pressures [10] - The closure of Baisheng's store in Beijing's Fuxingmen area is set for the end of this year, reflecting the company's struggle to adapt to changing retail dynamics [4][6] Industry Summary - The traditional department store model is undergoing significant transformation, with new retail formats and consumer experiences emerging to attract younger shoppers [11][13] - The shift from a product-centric to an experience-centric retail approach is essential for survival in the current market [13] - Urban renewal in Beijing is entering a "4.0 version," emphasizing cultural asset integration and the creation of multifunctional spaces that enhance both economic and social benefits [15][16]

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，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 PARKSON RETAIL GROUP LIMITED 百盛商業集團有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：3368） 須予披露交易： 有關位於中國四川省綿陽市的物業租賃 合作協議 合作協議的主要條款概要及其他相關資料載列如下。 於二零二五年八月二十日，租客（本公司的間接全資附屬公司）與業主訂立 合作協議，據此，訂約方已同意就物業租賃（「租賃」）之條款，包括將物業用 作為期20年的商業運營。 上市規則的涵義 根據國際財務報告準則第16號，合作協議項下的租賃需要本集團確認物業 為使用權資產。故此，根據上市規則，訂立合作協議及其項下擬進行的交易 將被視為本集團收購資產。按照合作協議項下收購使用權資產的基準計算， 本集團根據國際財務報告準則第16號確認的金額約為人民幣14.3百萬元。 1 由於上市規則第14.07條項下本集團根據國際財務報告準則第16號就收購使 用權資產確認的代價的最高適 ...

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，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 PARKSON RETAIL GROUP LIMITED 百盛商業集團有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：3368） 自願性公告 訂立租賃終止協議 本公告乃百盛商業集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）自願刊 發，旨在知會本公司股東及有意投資者有關本集團之最新業務發展。 相關物業 ： (1) 中國工藝美術館（「美術館」）地上一層、二層、三 層、四層、六層，及美術館序廳一層、二層、三層， 以及地下室D1-002庫房及D1-007庫房總使用面積 17,240平方米的房屋； (2) 美術館地上七層整層使用面積2,519.23平方米的 房屋； 茲提述本公司日期為二零一九年四月三日、二零一九年六月六日的公告及本公司日 期為二零一九年六月二十五日的通函，內容有關（其中包括）租賃位於中華人民共和 國（「中國」）北京之部分該等物業（定義見下文）。 租賃終止協議 於二零二五年八月七 ...

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: 百盛商業集團有限公司（於開曼群島註冊成立的有限公司） 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03368 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 7,500,000,000 | HKD | | 0.02 HKD | | 150,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 7,500,000,000 | HKD | | 0.02 HKD | | 150,000,000 | 本月底法 ...

Core Viewpoint - The company has successfully won a leasing bid for a property in Mianyang, Sichuan, which aligns with its strategic development plans in the region and is expected to drive long-term growth [1] Group 1: Leasing Agreement - The company’s subsidiary, Mianyang Shangma Baisheng Plaza Commercial Management Co., Ltd., won the lease for the fifth floor of the talent apartment project in Mianyang Science and Technology City at an annual bid price of approximately RMB 1.44 million [1] - The property is located in a strategic area of Mianyang, which has developed into a vibrant business district with increasing economic potential [1] Group 2: Strategic Importance - The board believes that the leasing agreement will significantly contribute to the company's expansion efforts in Mianyang, Sichuan [1] - The location of the property is considered prime, and the board is confident that this move will benefit the company and its shareholders in the long run [1]