Core Viewpoint - The article discusses the investigation of a senior executive at RT-Mart, highlighting the company's recent financial performance and operational adjustments in response to market pressures [1][2]. Group 1: Executive Investigation - RT-Mart confirmed that its Chief Operating Officer, Guan Mingwu, is under investigation for alleged job-related crimes, with the case currently in the investigation phase [1]. - The company emphasizes its commitment to legal compliance and has a robust internal supervision mechanism to prevent any illegal activities [2]. Group 2: Financial Performance - For the fiscal year ending March 31, 2025, RT-Mart reported revenues of 71.552 billion yuan, a decrease of 1.4% from 72.567 billion yuan in 2024, reflecting a reduction of 1.015 billion yuan [1]. - The company achieved a net profit of 386 million yuan for the fiscal year 2025, recovering from a net loss of 1.6 billion yuan in 2024 [1]. - The decline in revenue is attributed to the closure of long-term loss-making stores and a contraction in supply chain businesses such as Taocai and Tmall shared inventory [1]. Group 3: Operational Adjustments - RT-Mart operates 505 stores across 207 cities as of the 2025 fiscal year, an increase from 472 stores in 2024 [1]. - The company has opened 4 new membership stores in the fiscal year 2025 and has partnered with foreign trade enterprises to introduce differentiated products [2].

Group 1 - The core issue involves the detention of a senior executive, Guan Mingwu, from the company due to alleged job-related crimes, with the case currently under investigation by law enforcement [1] - The company maintains a commitment to legal compliance and has a zero-tolerance policy towards any illegal activities, emphasizing that the actions of the individual do not reflect the overall company [1] - Guan Mingwu has left the company, having held various managerial positions within the organization, indicating a significant change in leadership [1] Group 2 - The company is a subsidiary of Gao Xin Retail, which is undergoing a strategic shift, including the sale of its entire stake to Alibaba for approximately HKD 131.38 billion, representing 78.7% of the issued shares [2] - In May, the company restructured its operational zones from five to four, aiming to enhance efficiency and better serve customers [2] - For the fiscal year ending March 31, 2025, the company reported revenues of CNY 71.55 billion, a decrease of 1.4%, while net profit turned positive at CNY 386 million, indicating a recovery despite revenue decline [2] Group 3 - As of September 12, the company's stock price decreased by 2.43%, closing at HKD 2.01 per share, with a total market capitalization of HKD 19.176 billion [3]

Group 1 - The core issue involves the detention of the senior executive Guan Mingwu of RT-Mart for assisting in an investigation related to alleged job-related crimes, with the company stating that the case is under investigation and will rely on information released by law enforcement [1] - RT-Mart's parent company, Gao Xin Retail, reported a revenue of 71.552 billion yuan for the fiscal year ending March 31, 2025, a decrease of 1.4% from 72.567 billion yuan in 2024, with a net profit of 386 million yuan, recovering from a loss of 1.6 billion yuan in the previous fiscal year [1] - The decline in revenue is attributed to the closure of long-term loss-making stores and a contraction in supply chain businesses such as Tao Cai Cai and Tmall shared inventory [1] Group 2 - Gao Xin Retail operates seven membership stores, four of which were opened in the fiscal year 2025, and has partnered with foreign trade enterprises to introduce differentiated products [2] - The company emphasizes its commitment to legal and compliant operations, maintaining a zero-tolerance policy towards any illegal activities, and asserts that the executive's actions do not represent the company as a whole [2] - Daily operations and business activities of the company continue to run smoothly, with ongoing efforts to enhance corporate governance and operational efficiency [2]

Core Viewpoint - The company confirmed that its senior executive, Guan Mingwu, is under investigation by the police for suspected job-related crimes, and the case is currently in the investigation stage, with all information to be based on police announcements and results [1] Group 1 - The company maintains a commitment to legal and compliant operations, aiming to create a clean and upright corporate environment, and holds a zero-tolerance policy towards any illegal activities [1] - The company has a comprehensive internal supervision mechanism and compliance system, emphasizing that the personal actions of the executive do not represent the overall company [1] - Daily operations and various business activities of the company are continuing in an orderly manner, with ongoing efforts to enhance and optimize corporate governance and operational efficiency to better serve consumers [1]

Core Viewpoint - The company acknowledges the investigation involving its senior executive and emphasizes its commitment to legal compliance and a transparent corporate environment [1] Group 1 - The company confirmed that its senior executive, Guan Mingwu, is under investigation by the police for suspected job-related crimes, and the case is currently in the investigation phase [1] - The company maintains a zero-tolerance policy towards any illegal activities and has a robust internal supervision and compliance system in place [1] - Daily operations and business activities of the company are continuing in an orderly manner despite the ongoing investigation [1]

Core Viewpoint - The company acknowledges the investigation involving its senior executive and emphasizes its commitment to legal compliance and ethical business practices [1] Group 1 - The company confirmed that its executive, Guan Mingwu, is under investigation by the police for alleged job-related crimes, and the case is currently in the investigation phase [1] - The company maintains that it has a robust supervision mechanism and compliance system in place, asserting that the actions of the individual do not represent the company as a whole [1] - The company's daily operations and various business activities continue to proceed in an orderly manner, with ongoing efforts to enhance corporate governance and operational efficiency [1]

Group 1 - Recent leadership change at RT-Mart with the retirement of General Manager of Fast-Moving Consumer Goods (FMCG) Department, Lv Guoming, and the appointment of former Deputy Li Chunde [1] - This change follows the acquisition of Gao Xin Retail by Dehong Capital, indicating a significant organizational adjustment for RT-Mart [1] - Lv Guoming's extensive experience at RT-Mart has been pivotal in the company's growth, particularly in the FMCG sector, which has been crucial for its competitive advantage in the supermarket industry [3] Group 2 - The FMCG business has been a key driver for RT-Mart, allowing it to attract foot traffic and support rental income from its stores, with 35% of its outlets being self-owned properties [3] - RT-Mart's strategy to penetrate lower-tier markets has been successful, with 75.6% of its 505 stores located in third to fifth-tier cities as of mid-2025 [3] - The retirement of Lv Guoming may lead to further adjustments in RT-Mart's FMCG operations and overall product system, following recent organizational changes including the closure of the Central China regional headquarters [4] Group 3 - The supermarket industry has seen shifts in its driving forces, with FMCG leading early growth, followed by fresh produce, and now ready-to-eat food categories gaining traction among younger consumers [4][5] - RT-Mart has adapted to these changes, focusing on upgrading its fresh produce offerings while facing challenges in the ready-to-eat segment, where competitors like Hema and Sam's Club are excelling [5] - The company must balance maintaining its FMCG strengths while enhancing its fresh and ready-to-eat food categories to appeal to younger consumers and remain competitive in the evolving market [5]

Core Insights - The article discusses the significant management changes and restructuring at RT-Mart following its acquisition by DeHeng Capital, highlighting the intertwining of anti-corruption efforts and organizational overhaul [1][6][10] Management Changes - The departure of key executive Guan Mingwu, who was referred to as the "operational director," has raised speculation about the internal shake-up related to anti-corruption measures [1][3] - Following the acquisition, the management structure has undergone multiple adjustments, with new appointments and promotions, including Shen Hui becoming CEO and Guan Mingwu taking on the role of operational director [3][6] - The retirement of veteran executive Lv Guoming marks a significant transition in the management team, allowing for new leadership and ideas to emerge [5][10] Financial Performance - RT-Mart reported a revenue of 71.552 billion yuan for the fiscal year ending March 31, 2025, a slight decrease of approximately 1.4% year-on-year, but managed to achieve a net profit of 386 million yuan, reversing a previous loss of 1.6 billion yuan [10][11] - The profit was largely attributed to cost-cutting measures, including a reduction in sales and operational expenses by 2.95 billion yuan, which is a 16.2% decrease [11][12] Strategic Adjustments - The company is focusing on regaining its price advantage through a "Everyday Low Price" strategy and launching its private label "Super Savings Series" with competitively priced products [12][14] - RT-Mart is also restructuring its business model by emphasizing new retail formats, such as medium-sized community supermarkets and warehouse membership stores, while phasing out less profitable formats [14][15] Organizational Restructuring - The organizational structure has been streamlined, reducing the number of operational regions from five to four, aiming for improved efficiency [8][9] - The board of directors has seen a complete overhaul, with new members appointed by DeHeng Capital, indicating a strong commitment to reshaping the governance structure [6][7] Future Outlook - The management is exploring innovative retail strategies, including learning from successful models in the industry, to adapt to the competitive landscape and consumer preferences [15]

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8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: | 高鑫零售有限公司 | | | 呈交日期: | 2025年9月4日 | | | I. 法定/註冊股本變動 | 不適用 | | FF301 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 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06808 | 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 | | | 9,540,504,700 | | 0 | | 9,540,504,700 | | 增加 / 減少 (-) | | | ...

+ CCS2762 SARH + THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION 此乃要件 請即處理 If you are in any doubt as to any aspect of this document or as to the action to be taken, you should consult your stockbroker or other registered dealer in securities, bank manager, solicitor, professional accountant or other professional adviser. SUN ART RETAIL GROUP LIMITED 高鑫零售有限公司 (Incorporated in Hong Kong with limited liability) (於香港註冊成立之有限公司) (Stock Code 股份代號：06808) DIVIDEND CURRENCY ELECTION FORM FOR THE FIN ...