Financial Performance - The company's operating revenue for Q1 2025 was ¥8,782,158,024.13, representing a 49.00% decrease compared to ¥17,221,105,954.76 in the same period last year[4] - Net profit attributable to shareholders was ¥51,827,369.52, down 71.24% from ¥180,231,363.36 year-on-year[4] - The net profit after deducting non-recurring gains and losses showed a significant decline of 322.10%, resulting in a loss of ¥178,952,937.52 compared to a profit of ¥80,571,608.70 in the previous year[4] - Basic and diluted earnings per share were both ¥0.013, reflecting a 72.34% decrease from ¥0.047 in the same quarter last year[5] - Operating profit for Q1 2025 was ¥94,611,861.64, compared to ¥296,853,564.51 in Q1 2024, indicating a decline of 68.1%[18] - The company reported a total comprehensive income of 9,250,503.21 RMB for Q1 2025, compared to 136,743,471.46 RMB in Q1 2024, reflecting a decline of approximately 93.2%[20] - The net profit for Q1 2025 was -945,301.66 RMB, compared to a net profit of 146,230,883.80 RMB in Q1 2024, indicating a significant decline[20] Cash Flow and Assets - The net cash flow from operating activities decreased by 46.65%, amounting to ¥317,779,044.55, down from ¥595,703,826.38[5] - Cash and cash equivalents were reported at RMB 9.98 billion, down from RMB 10.69 billion, indicating a decrease of approximately 6.6%[15] - The accounts receivable decreased to RMB 2.08 billion from RMB 2.66 billion, reflecting a decline of about 21.8%[15] - The inventory stood at RMB 35.46 billion, a decrease from RMB 36.96 billion, which is a reduction of approximately 4.1%[15] - The total current assets amounted to approximately RMB 68.37 billion, a decrease from RMB 70.72 billion as of December 31, 2024, representing a decline of about 3.4%[15] - The total assets at the end of the reporting period were ¥118,940,077,096.42, a decrease of 1.45% from ¥120,691,503,016.36 at the end of the previous year[5] - The total liabilities decreased to ¥80,964,230,461.94 from ¥81,851,422,979.53, reflecting a reduction of 1.1%[17] - The total cash outflow from financing activities amounted to CNY 5,572,634,019.06, down from CNY 6,084,697,901.21[34] Shareholder Information - The top shareholder, Shanghai Fudi Investment Management Co., Ltd., holds 26.28% of the shares, with 1,023,403,904 shares pledged[12] - The second-largest shareholder, Zhejiang Fosun Commercial Development Co., Ltd., owns 9.38% of the shares, with 365,163,041 shares pledged[12] - The company has a total of 59.78% of shares held by 17 related entities, indicating a strong control over the company[12] - There were no significant changes in the top 10 shareholders or their shareholding status compared to the previous period[12] Market and Strategic Focus - The decline in revenue and profit was primarily attributed to macroeconomic factors and structural adjustments in the consumer industry, leading to weak domestic consumption growth[8] - The company is focused on addressing the challenges posed by the domestic consumption industry structure adjustments to improve future performance[8] - The company is focusing on market expansion and new product development as part of its strategic initiatives moving forward[19] Non-Recurring Gains and Other Income - The company reported non-recurring gains of ¥230,780,307.04, after accounting for tax effects and minority interests[7] - The company reported a significant increase in investment income of ¥171,310,797.14 for Q1 2025 compared to ¥191,061,942.34 in Q1 2024[18]

关于上海豫园旅游商城（集团）股份有限公司 2024 年年度股东大会 法 律 意 见 书 致:上海豫园旅游商城（集团）股份有限公司 上海市光大律师事务所接受上海豫园旅游商城(集团)股份有限 公司(以下简称"公司")的委托,指派潘轶、程安卿律师(以下简 称"本律师")就公司于 2025年 4月 28 日召开的 2024 年年度股东大 会（以下简称"本次股东大会"）相关事宜,根据《中华人民共和国 公司法》、《中华人民共和国证券法》、《上市公司股东大会规则》(以 下简称"规范性文件")和《上海豫园旅游商城(集团)股份有限公 司章程》(以下简称"公司章程")的规定,出具法律意见书。 为出具法律意见书,本律师审查了公司提供的有关召集、召开本 次股东大会的文件材料,并出席本次股东大会进行现场见证。 在法律意见书中,本律师根据法律意见书出具日以前发生的事实 及对该事实的了解,对公司本次股东大会所涉及的法律问题发表法律 意见,并依法对法律意见书承担责任。 本律师同意,公司可以将法律意见书作为本次股东大会的法定文 件,随同本次股东大会决议一并公告。 本律师按照律师行业公认的业务标准、道德规范和勤勉尽责精神， 严格履行法定职责，在 ...

Group 1 - The company, Yuyuan Group (stock code: 600655), reported a revenue of 8.782 billion yuan for the first quarter of 2025, representing a year-on-year decline of 49.00% [1] - The net profit for the same period was 6.116 billion yuan, showing a year-on-year decrease of 56.94% [1]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The retail sector is experiencing a rise in emotional consumption trends, with leading retail companies actively transforming through quality retail, cross-border trendy play, and co-branding with fashion IPs, which is expected to lead to performance recovery and valuation revaluation in the long term [4][30] - The report highlights the ongoing disclosure of annual and quarterly reports, indicating that high-quality companies in high-prosperity sectors are worth monitoring [4][27] - The retail index has shown a slight increase of 0.07% recently, but has decreased by 5.00% since the beginning of 2025, underperforming the broader market [6][15] Summary by Sections Retail Market Review - The retail index closed at 2127.02 points, with a weekly increase of 0.07%, ranking 24th among 31 primary industries [6][15] - The supermarket sector showed the largest increase this week, while the watch and jewelry sector has led the gains since the beginning of 2025 [18][21] Retail Insights: Focus on Beauty Care, Gold Jewelry, and Traditional Retail - The report emphasizes the performance divergence among companies in the cosmetics, medical beauty, gold jewelry, and traditional retail sectors, with a positive outlook for quality companies in the retail sector due to the recovery of consumer demand [27][30] - Key companies such as Yonghui Supermarket and Aiying Room are highlighted for their proactive transformation and potential for performance recovery [41][42] Key Company Performances - Proya achieved a 28.9% increase in net profit in Q1 2025, supported by a series of new product launches [47] - Yonghui Supermarket reported a revenue of 174.79 billion yuan in Q1 2025, down 19.3% year-on-year, but is undergoing significant store renovations [30][46] - The report suggests focusing on companies with strong growth potential in high-prosperity segments, including Proya, Aiying Room, and gold jewelry brands like Laopu Gold and Chaohongji [44][42]

Market Overview - The Shanghai Composite Index closed at 3299.76 points, above the annual line, with a change of 0.25% [1] - The total trading volume of A-shares reached 1,121.207 billion yuan [1] Stocks Breaking Annual Line - A total of 106 A-shares have broken above the annual line today [1] - Notable stocks with significant deviation rates include: - Youbuxun: 17.49% deviation, closing price at 15.18 yuan, with a daily increase of 20.00% and turnover rate of 6.57% [1] - Fujilai: 14.53% deviation, closing price at 29.09 yuan, with a daily increase of 20.01% and turnover rate of 30.40% [1] - Chongqing Construction: 8.33% deviation, closing price at 3.01 yuan, with a daily increase of 9.85% and turnover rate of 2.93% [1] Additional Stocks with Minor Deviations - Jiangxi Copper, Meirya, and Laimu Co. have just crossed the annual line with smaller deviation rates [1] - Other stocks with notable performance include: - Changjiang Investment: 7.98% deviation, closing price at 8.01 yuan, with a daily increase of 10.03% [1] - Qingtang City: 7.70% deviation, closing price at 3.78 yuan, with a daily increase of 9.88% [1] - Shenchuan A: 7.45% deviation, closing price at 6.75 yuan, with a daily increase of 9.93% [1] Summary of Stocks with Deviation Rates - A detailed table lists various stocks, their daily change percentages, turnover rates, annual line prices, latest prices, and deviation rates, highlighting the performance of stocks like: - Dongjiang Environmental: 3.70% deviation, closing price at 4.28 yuan, with a daily increase of 10.03% [1] - Feinan Resources: 3.56% deviation, closing price at 19.88 yuan, with a daily increase of 3.92% [1] - The table provides a comprehensive view of the market dynamics and stock performances on the day [2]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 | 证券代码：600655 | 证券简称：豫园股份 | 公告编号：临2025-048 | | --- | --- | --- | | 债券代码：242529 | 债券简称：25豫园01 | | 上海豫园旅游商城（集团）股份有限公司 关于股东部分股份质押的公告 一、本次股份质押情况 公司于 2025 年 4 月 16 日接到控股股东复星高科技的告知函，其将所持有本 公司的部分股份办理质押手续，具体事项如下。 上海豫园旅游商城（集团）股份有限公司（以下简称"公司"）控股股东上海 复星高科技（集团）有限公司（以下简称"复星高科技"）下属上海复川投资 有限公司、上海复科投资有限公司、上海复迈投资有限公司（以下简称"复 川投资"、"复科投资"、"复迈投资"）合计持有本公司股份数量为 328,784,882 股，占公司总股本比例为 8.44%。本次办理股票质押后，复川投资、复科投 资、复迈投资合计累计质押股份数量为 295,000,000 股。 公司控股股东复星高科技及其一致行动人合计持有本 ...

| 证券代码：600655 | 证券简称：豫园股份 | 公告编号：临2025-047 | | --- | --- | --- | | 债券代码：242529 | 债券简称：25豫园01 | | 上海豫园旅游商城（集团）股份有限公司 关于第五期员工持股计划实施进展暨完成股票过 户的公告 敬请广大投资者注意投资风险。 特此公告。 上海豫园旅游商城（集团）股份有限公司 2025 年 4 月 16 日 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 上海豫园旅游商城（集团）股份有限公司(以下简称"公司")第十一届董事 会第三十七次会议和2025年第一次临时股东大会审议通过了《关于公司<第五期 员工持股计划（草案）>及其摘要的议案》等议案，具体内容详见《中国证券报》、 《上海证券报》、《证券时报》、《证券日报》及上海证券交易所网站的公告。 根据《关于上市公司实施员工持股计划试点的指导意见》及《上海证券交易 所上市公司自律监管指引第1号——规范运作》的要求，现将公司第五期员工持 股计划实施进展情况公告如下： 根据参与对象实际认购和最终缴款 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report emphasizes the ongoing impact of tariff shocks and suggests focusing on high-quality retail channels and differentiated consumer brands that cater to domestic demand [4][22] - The report highlights the transformation of traditional retail, with Yonghui Supermarket leading the way in adapting to a consumer-centric retail era [4][22] - The rise of domestic brands and the recovery of consumer demand are seen as inevitable trends, with recommendations to focus on quality retail channels and differentiated brands [4][22] Summary by Sections Retail Market Review - The retail industry index rose by 2.88% during the week of April 7 to April 11, outperforming the Shanghai Composite Index, which fell by 3.11% [6][13] - The supermarket sector showed the largest increase, with a weekly rise of 13.54% [14][17] - Notable individual stock performances included Guofang Group (+61.1%), Eurasia Group (+26.3%), and Nanning Department Store (+22.4%) [19][20] Industry Dynamics - Yonghui Supermarket has opened a "green channel" for domestic manufacturers affected by export restrictions, receiving over 100 cooperation requests from various sectors [4][22] - The report discusses the approval of a new collagen product by Jinbo Bio, which is expected to strengthen its leading position in the medical beauty sector [4][23] Investment Recommendations - Investment focus areas include: - Traditional retail: Highlighting companies like Yonghui Supermarket and Aiyingshi that are adapting to consumer trends [7][27] - Gold and jewelry: Recommendations for brands like Laopu Gold and Chaohongji that possess differentiated product capabilities [7][28] - Cosmetics: Emphasizing domestic brands such as Maogeping and Shangmei that are expanding into high-potential segments [7][28] - Medical aesthetics: Focusing on companies like Aimeike and Kedi that are positioned to benefit from the recovery in medical beauty consumption [7][28] Company-Specific Insights - Laopu Gold reported a revenue of 8.506 billion yuan (+167.5%) and a net profit of 1.473 billion yuan (+253.9%) for FY2024, indicating strong growth potential [29] - Yonghui Supermarket's revenue for the first three quarters of 2024 was 54.549 billion yuan (-12.1%), with a net loss of 78 million yuan, but it is undergoing significant transformation [32] - Jinbo Bio's new collagen product is expected to provide both immediate filling effects and stimulate collagen regeneration, enhancing its competitive edge in the market [23][24]

上海豫园旅游商城（集团）股份有限公司 2024 年年度股东大会 文 件 2025 年 4 月 28 日 上海豫园旅游商城（集团）股份有限公司 2024 年年度股东大会文件 股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证大会的顺利进 行，根据中国证监会发布的《上市公司股东大会规则》、《上海豫园旅游商城（集团）股份有限 公司章程》(以下简称"《公司章程》")和《股东大会议事规则》的规定，特制定本须知。 一、 本公司根据《中华人民共和国公司法》、《中华人民共和国证券法》、《上市公司股东 大会规范意见》及《公司章程》的规定，认真做好召开股东大会的各项工作。 二、 本公司设立股东大会秘书处，具体负责大会有关程序方面的事宜。 三、 本次股东大会以现场会议形式召开，并采取现场、网络相结合的方式投票。 四、 股东参加股东大会现场会议依法享有发言权、质询权、表决权等权利，同时也必须 认真履行法定义务，不得侵犯其他股东的权益和扰乱会议秩序。 十二、根据监管部门的规定，公司不向参加股东大会的股东发放礼品，以维护其他广大股 东的利益。 3 五、 股东要求大会发言，请于会前十五分钟向大会秘书处登记 ...

| 证券代码：600655 | 证券简称：豫园股份 | 公告编号：临2025-046 | | --- | --- | --- | | 债券代码：242529 | 债券简称：25豫园01 | | 上海豫园旅游商城（集团）股份有限公司 关于股东部分股份质押的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示: 一、本次股份质押情况 2.上述质押股份不存在被用作重大资产重组业绩补偿等事项的担保或其他 公司于 2025 年 4 月 11 日接到控股股东复星高科技的告知函，其将所持有本 公司的部分股份办理质押手续，具体事项如下。 1.本次股份质押基本情况 1 上海豫园旅游商城（集团）股份有限公司（以下简称"公司"）控股股东上海 复星高科技（集团）有限公司（以下简称"复星高科技"）下属上海复地投资 管理有限公司（以下简称"复地投资"）持有本公司股份数量为 1,023,403,904 股，占公司总股本比例为 26.28%。本次办理股票质押后，复地投资累计质押 股份数量为 795,079,286 股。 公司控股股东复星高科技及 ...