| 证券代码：600655 | 证券简称：豫园股份 | 公告编号：临2024-048 | | --- | --- | --- | | 债券代码：163038 | 债券简称：19豫园01 | | | 债券代码：163172 | 债券简称：20豫园01 | | | 债券代码：185456 | 债券简称：22豫园01 | | 上海豫园旅游商城（集团）股份有限公司 关于股东部分股份解除质押的公告 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: 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"）下属上海复星 产业投资有限公司（以下简称"复星产投"）持有本公司股份数量为 53,189,929 股，占公司总股本比例为 1.37%。本次办理股票解押后，复星产 投累计质押数量为 0 股。 公司控股股东复星高科技及其一致行动人合计持有本公司股份数量为 2,409,720,644 股，占公司总股本比例为 61.85%。本次部分股票解除质押后， 复星高科技及其 ...

上海豫园旅游商城（集团）股份有限公司（以下简称"公司"）于 2024 年 2 月 7 日召开第十一届董事会第二十二次会议审议通过了《关于以集中竞价交易方 式回购公司 A 股股份的议案》。本次回购股份价格为不超过人民币 9.00 元/股， 本次回购股份的资金总额不低于人民币 10,000 万元（含），不超过人民币 20,000 万元（含）。回购期限为自公司董事会审议通过本次回购股份方案之日起 12 个 月内。详细情况请参见上海证券交易所网站披露的《上海豫园旅游商城（集团） 股份有限公司关于以集中竞价交易方式回购公司 A 股股份方案的公告》（公告编 号：临 2024-023）。 | 证券代码：600655 | 证券简称：豫园股份 | 公告编号：临2024-049 | | --- | --- | --- | | 债券代码：163038 | 债券简称：19豫园01 | | | 债券代码：163172 | 债券简称：20豫园01 | | | 债券代码：185456 | 债券简称：22豫园01 | | 上海豫园旅游商城（集团）股份有限公司 关于以集中竞价交易方式首次回购公司 A 股股份 的公告 本公司董事会及全体董事保证 ...

证券简称：豫园股份 证券代码：600655 | | 豫园股份执行总裁兼 CFO 钱顺江 | | --- | --- | | | 豫园股份执行总裁、董事会秘书 邹超 | | | 豫园股份副总裁、首席新闻发言人、东方生活研究院院长 胡俊杰 | | | 豫园股份 IR 团队 | | 投资者关系活 | 钱顺江总发言： | | | 一、核心财务数字： | | 动主要内容介 |  2023 年实现营业收入 581.47 亿元，同比增长 16.02%； | | |  实现归属于上市公司股东的净利润 20.24 亿元，同比下滑 | | 绍 | 45.00%； | | | 二、分版块看，聚焦产业运营显现成果 | | |  2023 年消费产业稳健发展，实现营业收入 416.94 亿元，同比 | | | 增长 7.94%，占全年营收比例 71.70%。 | | | 三、现金流充沛 | | |  公司 2023 年末货币资金 91.71 亿元，货币资金充沛。 | | | 经营性现金流大幅改善，由负转正，净经营性现金流入 47.47  | | | 亿元。 | | |  公司通过加强运营管理及进一步优化资产组合，有息负债持 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 7.94 CNY, indicating an expected increase of over 20% relative to the market benchmark in the next six months [4][10]. Core Views - The company achieved a revenue of 58.15 billion CNY in 2023, representing a year-on-year growth of 15.83%, while the net profit attributable to shareholders decreased by 45% to 2.02 billion CNY [2][3]. - The decline in net profit is attributed to a significant drop in investment income from the disposal of non-core assets and changes in the sales recognition cycle of property development projects [2]. - The company's gross margin decreased to 14.11%, down 3.76 percentage points year-on-year, primarily due to a substantial decline in the gross margin of property development and sales [2]. - The jewelry business showed stable performance with a net addition of 429 stores, while the restaurant management segment experienced rapid growth, doubling its revenue [2][3]. Financial Performance Summary - Revenue for 2023 was 58.15 billion CNY, with a growth rate of 16% compared to 2022 [3]. - The net profit for 2023 was 2.02 billion CNY, reflecting a decrease of 47% year-on-year [3]. - The company forecasts revenues of 64.55 billion CNY, 70.23 billion CNY, and 76.52 billion CNY for 2024, 2025, and 2026, respectively [3][7]. - The expected net profits for the same years are 2.63 billion CNY, 2.81 billion CNY, and 3.16 billion CNY [3][7]. Segment Performance - The jewelry segment is projected to have a price-to-earnings (P/E) ratio of 13 times, while the restaurant management and other operational segments are expected to have P/E ratios of 6 and 14 times, respectively [2]. - The company’s gross margin for the jewelry fashion segment is expected to improve slightly to 14.3% in 2025 and 14.5% in 2026 [7]. - The restaurant segment, particularly 松鹤楼, has shown a significant increase in average monthly revenue per store by 33% [2]. Market Position - The company has a total market capitalization of approximately 30.96 billion CNY based on the target price [4]. - The total number of stores in the jewelry segment reached 4,994, with a strong focus on new product launches and innovative retail models [2].

Investment Rating - The report maintains a "Buy" rating for the company [9] Core Insights - The company reported a revenue of 58.15 billion yuan for 2023, a year-on-year increase of 15.83%, while the net profit attributable to shareholders decreased by 45% to 2.02 billion yuan due to reduced investment income from non-core asset disposals [9] - The core jewelry business continues to accelerate, contributing 41.69 billion yuan in revenue, a growth of 11.05% year-on-year, despite a slight decrease in revenue share [9] - The company is strategically focusing on high-potential core industries, enhancing capital efficiency through integration and management [9] - The company emphasizes cultural and technological innovation to cultivate new growth points for domestic products, with significant sales growth in its jewelry and dining segments [9] - The profit forecast has been adjusted, with expected EPS for 2024 and 2025 at 0.66 yuan and 0.78 yuan respectively, indicating a potential upside of over 20% based on current valuations [9] Financial Summary - Total revenue for 2023 was 58.15 billion yuan, with a projected increase to 64.15 billion yuan in 2024 [10] - The net profit attributable to shareholders for 2023 was 2.02 billion yuan, with expectations of recovery to 2.55 billion yuan in 2024 [10] - The gross margin for 2023 was 14.1%, with a forecasted increase to 15.8% in 2024 [10] - The company’s ROE for 2023 was 5.6%, with an expected increase to 6.6% in 2024 [10]

Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the analysis suggests a cautious outlook due to declining profits and mixed performance across segments [1][2]. Core Insights - The company reported a revenue of 58.15 billion yuan in 2023, an increase of 15.83% year-on-year, but the net profit attributable to shareholders dropped by 45% to 2.02 billion yuan, indicating a significant decline in profitability [1][3]. - The core business of the company is in the consumer sector, which remains stable, contributing 72% of total revenue in 2023, with jewelry and fashion being the main growth drivers [1][2]. - The company has diversified its financing through various funds, which supports its industrial development and operational enhancements [1][2]. Financial Performance Summary - **Revenue Growth**: The company achieved a total revenue of 58.15 billion yuan in 2023, reflecting a 15.83% increase from 2022 [3]. - **Net Profit**: The net profit attributable to shareholders was 2.02 billion yuan, a decrease of 45% compared to the previous year [3]. - **Gross Margin**: The overall gross margin for 2023 was reported at 14.1%, down from 17.7% in 2022 [3]. - **Earnings Per Share (EPS)**: The diluted EPS for 2023 was 0.52 yuan, a decline from 0.94 yuan in 2022 [3]. - **Debt Ratio**: The company's debt ratio stood at 68.03%, a decrease of 1.1 percentage points year-on-year [1]. Segment Performance - **Consumer Sector**: Revenue from the consumer sector was 41.7 billion yuan in 2023, growing by 7.9% year-on-year, with the jewelry and fashion segment contributing significantly [1][2]. - **Property Development**: The property development and sales segment reported revenue of 13.56 billion yuan, an increase of 48.72%, but the gross margin decreased by 12.07 percentage points to 11.29% [2]. - **Restaurant Sector**: The restaurant segment saw a revenue increase of 120% to 1.42 billion yuan, driven by post-pandemic recovery and expansion of chain restaurants [1][2]. Future Earnings Forecast - The company is projected to have net profits of 1.54 billion yuan, 2.01 billion yuan, and 2.54 billion yuan for the years 2024, 2025, and 2026, respectively, with a notable decline expected in 2024 due to adjustments in property development [2][3].

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company's jewelry fashion business has shown steady growth, with significant sales performance in the "Ancient Charm Gold" product line, achieving sales of 8.9 billion yuan (up 71% year-on-year) [6] - The company reported a revenue of 58.147 billion yuan for 2023, a year-on-year increase of 15.83%, while the net profit attributable to shareholders decreased by 45% to 2.024 billion yuan, primarily due to reduced investment income from the disposal of non-core assets [5][6] - The company plans to distribute a cash dividend of 1.90 yuan for every 10 shares [5] - The forecast for net profit attributable to shareholders for 2024-2026 is 2.875 billion yuan (-14.05%), 3.184 billion yuan (-13.12%), and 3.463 billion yuan, respectively, with corresponding EPS of 0.74, 0.82, and 0.89 yuan [5] Financial Performance Summary - In 2023, the jewelry fashion business generated revenue of 36.727 billion yuan, reflecting an 11.1% year-on-year growth, with a gross margin of 7.86%, a decrease of 0.56 percentage points [6] - The company added 429 new stores for its "Lao Miao" and "Ya Yi" jewelry brands, bringing the total to 4,994 stores [6] - The company has established the "Oriental Aesthetics Research Institute" to optimize resource allocation across its business segments, with notable growth in the restaurant segment, which saw a revenue increase of 119.8% to 1.421 billion yuan [7] Financial Forecasts - Revenue projections for 2024-2026 are 65.005 billion yuan, 71.909 billion yuan, and 78.902 billion yuan, respectively, with year-on-year growth rates of 11.8%, 10.6%, and 9.7% [8] - The company's net profit is expected to recover in 2024 with a forecast of 2.875 billion yuan, followed by 3.184 billion yuan in 2025 and 3.463 billion yuan in 2026, indicating a positive growth trajectory [8]

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company's 2023 revenue increased by 15.83% year-on-year, reaching 58.147 billion yuan, while the net profit attributable to shareholders decreased by 45.00% to 2.024 billion yuan, resulting in a diluted EPS of 0.52 yuan [2][4] - The company experienced a decline in comprehensive gross margin by 3.60 percentage points to 14.11% in 2023, with a similar trend observed in the fourth quarter [2] - The company added 429 new stores under the "Laomiao" and "Yayi" brands, bringing the total to 4,994 stores by the end of 2023 [3] Summary by Sections Financial Performance - In 2023, the company reported a revenue of 58.147 billion yuan, a 15.83% increase from the previous year, while the net profit attributable to shareholders was 2.024 billion yuan, a decrease of 45.00% [2][5] - The fourth quarter of 2023 saw a revenue of 18.599 billion yuan, up 16.39% year-on-year, but a net loss of 211 million yuan was recorded [2] Cost and Margin Analysis - The comprehensive gross margin for 2023 was 14.11%, down 3.60 percentage points from the previous year, with the fourth quarter gross margin at 15.37% [2] - The period expense ratio decreased by 2.85 percentage points to 13.54% in 2023, with specific reductions in sales, management, and financial expense ratios [2] Store Expansion and Business Segments - The company expanded its store network by 429 locations in 2023, with significant growth in the "Songhelou" brand, which saw revenue growth exceeding 100% [3] - The real estate segment generated a sales amount of 10.527 billion yuan, with a revenue recognition of 13.558 billion yuan [3] Future Outlook - The profit forecast for 2024 and 2025 has been revised down by 4% and 3% respectively, with new projections for 2026 set at 3.375 billion yuan [4]

Financial Performance - Revenue for 2023 reached RMB 58.15 billion, a year-on-year increase of 15.83% compared to 2022 [16] - Net profit attributable to shareholders decreased by 45.00% to RMB 2.02 billion in 2023 compared to 2022 [16] - Operating cash flow surged to RMB 4.75 billion in 2023, a significant improvement from a negative RMB 207.60 million in 2022 [16] - Total assets decreased by 4.16% to RMB 124.04 billion at the end of 2023 compared to 2022 [16] - Adjusted revenue (excluding non-core business and non-commercial income) increased by 18.00% to RMB 57.97 billion in 2023 [16] - Net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of RMB 451.16 million in 2023, a sharp decline of 378.96% compared to 2022 [16] - Revenue increased by 7.947 billion yuan, up 15.83% year-over-year, driven by growth in industrial operations and property development project deliveries [18] - Net profit attributable to shareholders decreased by 1.656 billion yuan, down 45.00% year-over-year, primarily due to reduced investment income from the disposal of non-core assets [18] - Basic earnings per share decreased by 0.431 yuan/share, down 45.27% year-over-year [18] - Net cash flow from operating activities increased by 4.955 billion yuan, up 2,386.68% year-over-year, mainly due to improved cash flow from industrial operations [18] - Revenue in 2023 reached 58.147 billion yuan, a year-on-year increase of 15.83%, while net profit attributable to shareholders decreased by 45% to 2.024 billion yuan [25] - Revenue increased by 15.83% to RMB 58,146,920,890.35 compared to the previous year [37] - Operating costs rose by 20.90% to RMB 49,940,580,928.45, outpacing revenue growth [37] - Net cash flow from operating activities surged by 2,386.68% to RMB 4,747,245,920.42 [37] - Net cash flow from investing activities decreased by 47.87% to RMB 2,656,350,901.42 [37] - R&D expenses dropped by 43.18% to RMB 83,120,471.76 due to the disposal of Jinhuijiu equity [37] - Jewelry and fashion segment revenue grew by 11.05% to RMB 36,726,694,358.04, with a slight decrease in gross margin by 0.56 percentage points [40] - Catering management and services revenue surged by 119.75% to RMB 1,420,957,713.55, with a gross margin increase of 3.55 percentage points [40] - Property development and sales revenue increased by 48.72% to RMB 13,558,258,311.07, but gross margin decreased by 12.07 percentage points [40] - Domestic revenue in Shanghai grew by 30.65% to RMB 44,942,574,472.87, with a gross margin increase of 2.63 percentage points [42] - International revenue in Japan increased by 40.24% to RMB 932,817,061.61, with a gross margin increase of 4.27 percentage points [42] - Jewelry and fashion business revenue and operating costs increased year-on-year due to business scale growth and rapid expansion of new model stores [44][47] - Catering management and service revenue and operating costs grew year-on-year due to accelerated chain expansion [44][47] - Food, department store, and handicraft business revenue and operating costs increased year-on-year due to integration and improvement of the food and beverage business [44][47] - Pharmaceutical health and other business revenue and operating costs rose year-on-year due to growth in traditional Chinese medicine health and wellness business [44][47] - Liquor business revenue and operating costs decreased year-on-year due to the disposal of Jinhuijiu equity at the end of 2022 [44][47] - Resort business revenue and operating costs increased year-on-year due to continuous growth and the renovation and opening of Kiroro Resort [44][47] - Property development and sales business revenue and operating costs grew year-on-year due to the completion of various property development projects [44][47] - Gold sales volume increased by 0.83% year-on-year, while platinum sales volume decreased by 30.62% [46] - R&D expenses decreased by 43.18% year-on-year due to the disposal of Jinhuijiu equity at the end of 2022 [51] - Operating cash flow increased significantly to 4,747,245,920.42 yuan, up 2,386.68% year-over-year, driven by improved cash flow from the jewelry and fashion business [55][56] - Investment cash flow decreased by 47.87% to 2,656,350,901.42 yuan, mainly due to reduced cash received from investment recoveries [55][56] - Net cash and cash equivalents increased by 60.84% to -1,779,090,990.96 yuan, reflecting improved liquidity [55] - Asset impairment and credit impairment losses surged by 1,178.86% to 518,025,829.36 yuan, primarily due to increased inventory write-downs [57][58] - Short-term borrowings rose by 48.19% to 10,130,723,396.02 yuan, driven by increased working capital needs [59] - Contract liabilities decreased by 38.47% to 7,540,900,881.86 yuan, mainly due to the settlement of prior-year liabilities [59] - Overseas assets totaled 6.766 billion yuan, accounting for 5.45% of total assets [61] - The company's total investment in 2023 was 70,013.96 million yuan, a decrease of 46.04% compared to the previous year [96] - The company acquired Napier Tokutei Mokuteki Kaisha and Godo Kaisha Kiroro Management for 16.0161 billion yen, resulting in a loss of 11,061.13 million yuan [97] - The company acquired Djula.SAS, a market jewelry brand, for an undisclosed amount, with no impact on current period profits [97] - The company acquired Shanghai Fuxing Aibinuo Property Management Co., Ltd. for 1 yuan, resulting in a profit of 171.61 million yuan [97] - The company invested 5,640 million yuan in Shanghai Yulong Catering Management Co., Ltd., resulting in a loss of 575.95 million yuan [97] - The company completed the sale of 80% of IGI Group's shares for a total transaction value of $455.38 million [106] - The company sold 5% of Jin Hui Wine's shares for a total transaction value of RMB 598.82 million [106] - The company transferred 100% equity of Wuhan Shunkang Edible Fungus Co., Ltd. for RMB 62 million [108] - The company's 2022 net profit was RMB 2,761,404,673.88, with an initial undistributed profit of RMB 4,780,884,541.91, and after deducting the 2021 cash dividend of RMB 1,354,634,067.85, the actual distributable profit was RMB 5,911,514,680.55 [184] - The 2022 profit distribution plan proposed a cash dividend of RMB 3.50 per 10 shares (tax included), with a total cash dividend amount of RMB 739,709,829.70, accounting for 36.55% of the net profit attributable to ordinary shareholders [184][188] - The 2023 profit distribution plan proposes a cash dividend of RMB 1.90 per 10 shares (tax included), with the total cash dividend amount to be determined based on the total number of shares and repurchased shares on the record date [185] - The company's cash dividend policy requires a minimum cash dividend ratio of 10% of the distributable profit, with specific ratios adjusted based on the company's development stage and significant capital expenditure plans [184] - The 2023 profit distribution plan does not include a capital reserve transfer to share capital [185] - The company's cash dividend policy complies with the requirements of the articles of association and shareholder meeting resolutions, with clear standards and proportions, and a complete decision-making process [186] - The independent directors have fulfilled their duties and protected the rights and interests of minority shareholders [186] - The 2023 profit distribution plan is subject to approval at the shareholder meeting [185] - The company maintains a stable dividend policy, with the 2022 and 2023 dividend ratios both exceeding the minimum requirement of 10% of distributable profit [184][185] Business Segments and Operations - Jewelry Fashion Group achieved double-digit growth in revenue and net profit, with 4,994 stores and 1 million consumer members, a 33% increase year-on-year [25] - Cultural Food Group saw significant revenue growth, with Songhelou's revenue increasing by over 100%, and GMV for pre-made dishes breaking through to 140 million yuan [25] - Yuyuan Commercial Development Group's GMV reached approximately 2.6 billion yuan, with the Yuyuan Lantern Festival expanding internationally to France [25] - Cloud Development Group signed 22,800 square meters of space, a 500% year-on-year increase, with a 63% occupancy rate [25] - Consumer membership exceeded 5 million, an 80% year-on-year increase, with 7 million new registered members [27] - E-commerce sales reached 2.9 billion yuan, a 25% year-on-year increase, with TikTok sales growing by 184% [27] - New product sales accounted for 9% of total sales, with 5 products exceeding 100 million yuan in sales and 12 products exceeding 10 million yuan [27] - The company divested IGI Group for approximately 455 million USD, achieving a 5x return [27] - Songhelou Noodle House expanded to 173 stores, with core store gross margins reaching 70% [27] - AHAVA's overseas revenue increased by 12% year-on-year, with Amazon US online sales revenue up by 25% [28] - The company's IP ecosystem cooperation projects reached 32, driving sales of 350 million yuan [28] - Jewelry segment launched 329 new SKUs, with Laomiao Gold new product sales reaching 1.38 billion yuan [28] - The company's supply chain achieved a procurement cost reduction rate of 3.1% [28] - Songhelou takeout revenue per store increased from 33,800 yuan to 45,000 yuan per month, a 33% increase [28] - The company's digital transformation improved internal operation efficiency by 60% in jewelry supply chain [28] - The company's inventory turnover days and inventory amount both decreased, with 5 industries launching supply chain cockpits [28] - The company's terminal operation management training program resulted in a 40%+ average monthly performance improvement post-training [29] - The number of "Lao Miao" and "Ya Yi" brand stores reached 4,994 by the end of 2023 [32] - The company holds 70% equity in Shede Group and 20% equity in Jinhuijiu [32] - The company's core commercial properties in Yuyuan Business Circle have an annual foot traffic of approximately 45 million people [33] - The company has a total credit line of approximately 69.372 billion yuan from major cooperative banks as of December 31, 2023 [35] - The company's Fuyue Life Group manages over 42 million square meters of property and serves over 3.2 million members [32] - The company's Yuyuan New Year Folk Lantern Festival is listed as a national intangible cultural heritage [34] - The company's Yuyuan Jewelry Fashion Group is building a C2M ecosystem to serve family customers directly [32] - The company's Yuyuan Beautiful Health Group owns the historic Chinese medicine brand Tong Han Chun Tang and the Israeli skincare brand AHAVA [32] - The company's jewelry fashion industry expanded its network with 429 new outlets for the "Laomiao" and "Yayi" brands, reaching a total of 4,994 outlets by the end of 2023, including 261 directly operated outlets and 4,733 franchise outlets [80] - The company's online sales revenue in 2023 was approximately 1.53 billion yuan [80] - The company's retail outlets include 107 directly operated stores with a total self-owned area of 85,600 square meters and 629 leased stores with a total leased area of 76,300 square meters [78] - The company's cultural dining sector has 220 directly operated outlets, including 185 Songhelou outlets (12 Su-style restaurants and 173 Su-style noodle shops) [80] - The company's beauty and health sector has 69 directly operated outlets, including 39 Tonghanchun Hall outlets and 30 AHAVA outlets (15 domestic and 15 international) [80] - The company's fashion watch sector has 82 directly operated outlets [80] - The company's new jewelry brand, LUSANT, had 3 directly operated outlets by the end of 2023 [80] - The company's French jewelry brand, DJULA, had 19 directly operated outlets by the end of 2023 [80] - Laomiao Beijing Xinhua Department Store counter achieved sales of 36.45 million in March 2023 [84] - Laomiao Chongqing New Century Kai Rui Department Store counter achieved sales of 40.00 million in March 2023 [84] - Laomiao Beijing Jun Tai Department Store counter achieved sales of 54.00 million in April 2023 [84] - Laomiao Beijing Yinzuo Harmony Plaza store achieved sales of 85.00 million in April 2023 [84] - Laomiao Beijing Oriental Plaza store achieved sales of 52.53 million in April 2023 [84] - Laomiao Beijing Xisanqi Vientiane store achieved sales of 80.35 million in May 2023 [84] - Laomiao Beijing Ito Yokado counter achieved sales of 48.00 million in July 2023 [84] - Laomiao Beijing Yansha Friendship counter achieved sales of 30.00 million in July 2023 [84] - Laomiao Chengdu Tianfu Avenue South store achieved sales of 84.00 million in August 2023 [84] - Laomiao Chongqing Dadukou Vientiane store achieved sales of 80.00 million in September 2023 [84] - DJULA Guangzhou Tianhe store opened in March 2023 with an area of 43.00 square meters [85] - DJULA Nanjing Deji store opened in July 2023 with an area of 27.00 square meters [85] - LUSANT Shanghai Reel pop-up store opened in September 2023 with an area of 45.65 square meters [85] - LUSANT Shanghai Baibai pop-up store opened in September 2023 with an area of 42.00 square meters [85] - Nanxiang Mantou Dian (Xintiandi) opened in November 2023 with an area of 307.00 square meters [85] - Songyuelou Wujiaochang store opened in April 2023 with an area of 64.56 square meters [85] - Songyuelou Pujian Road store opened in April 2023 with an area of 24.00 square meters [85] - Songyuelou Baodi Plaza store opened in May 2023 with an area of 38.00 square meters [85] - Songyuelou North Bund City Market store opened in July 2023 with an area of 30.00 square meters [85] - Songyuelou LCM Plaza store opened in July 2023 with an area of 20.36 square meters [85] - Songhelu Suzao Noodle opened 14 new stores in 2023, with the highest revenue of 294.00 million yuan at the Shanghai Yuanzu Dream World store [29] - The average revenue per store for Songhelu Suzao Noodle in 2023 was approximately 154.5 million yuan, with the lowest revenue of 90.00 million yuan at the Hangzhou Hubin IN77 store [41] - Godiva stores generated a total revenue of 80.93 million yuan in 2023, with the highest revenue of 65.37 million yuan at the Tianyu Lou store [45] - Tonghanchun Tang opened 3 new counters in 2023, with the highest revenue of 18.00 million yuan at the Bailian Xijiao counter [1] - The total revenue from Songhelu Suzao Noodle stores in Shanghai in 2023 was 1,066.00 million yuan, accounting for approximately 38% of the total revenue from all stores [28][29][30][40] - The total revenue from Songhelu Suzao Noodle stores in Beijing in 2023 was 884.47 million yuan, with the highest revenue of 176.00 million yuan at the Huiduo Gang Shopping Center store [25][34][36][37][38] - The total revenue from Songhelu Suzao Noodle stores in Guangzhou in 2023 was 881.50 million yuan, with the highest revenue of 178.00 million yuan at the K11 store [24][26][27][31][33][39][42] - The total revenue from Songhelu Suzao Noodle stores in 2023 was 3,682.57 million yuan, with an average revenue per store of approximately 154.5 million yuan [23][24][25][26][27][28][29][30][31][32][33][34][35][36][37][38][39][40][41][42][43] - The total revenue from the Beauty and Health sector in 2023 was 27.00 million yuan, with the highest revenue of 18.00 million yuan at the Bailian Xijiao counter [1][2][3] - The total revenue from all sectors in 2023 was 3,790.50 million yuan, with the highest revenue of 294.00 million yuan at the Shanghai Yuanzu Dream World store [29] - Tong Han Chun Tang 24 Solar Terms Tea (Oriental Pearl Store) achieved revenue of 104.00 million in September 2023 [87] - AHAVA Hefei Yintai Store generated revenue of 31.00 million in January 2023 [87] - AHAVA Nanchang Wushang Plaza Store recorded revenue of 74.00 million in

x ·计师 寧务所(特殊普通合伙) Sentified Public Scrountants (Special General 关于上海豫园旅游商城(集团)股份有限公司 2023 年度营业收入扣除事项的专项核查报告 上会师报字(2024)第 1901 号 上海豫园旅游商城(集团)股份有限公司全体股东: 关于上海豫园旅游商城(集团)股份有限公司 2023 年度营业收入扣除事项的专项核查报告 上会师报字(2024)第 1901 号 上会会计师事务所（特殊普通合伙） 中国 上海 我们接受委托,对上海豫园旅游商城（集团）股份有限公司(以下简称"豫园股 份"\2023 年度财务报表进行审计，并出具了上会师报字(2024)第 1896 号审计报告。 在此基础上,我们检查了后附的豫园股份管理层编制的《上海豫园旅游商城（集团) 股份有限公司 2023 年度营业收入扣除情况表》(以下简称"营业收入扣除情况表")。 一、管理层的责任 豫园股份管理层的责任是提供真实、合法、完整的相关资料,按照《上海证券 交易所股票上市规则》(上证发〔2023〕127 号)及《上海证券交易所上市公司自律监 管指南第 2 号一业务办理》（2023 年 ...