格隆汇9月12日丨南京新百(600682.SH)公布，2025年9月12日，公司通过集中竞价交易方式首次减持已 回购股份72万股，占公司总股本的0.05%，减持均价8.13元/股。本次减持后，公司回购专用证券账户还 剩628万股，占公司总股本的0.47%。 ...

Core Viewpoint - The Shanghai Composite Index fell by 1.25% on September 4, with 11 industries rising, led by retail and beauty sectors, while telecommunications and electronics faced significant declines [1] Industry Summary - The comprehensive industry experienced a decline of 4.49%, with a net outflow of 42.4 million yuan in main capital. Among the 16 stocks in this sector, 10 rose, 6 fell, and 1 hit the daily limit down [1] - The stocks with the highest net inflow in the comprehensive industry included Hongmian Co., with a net inflow of 15.69 million yuan, followed by Nanjing Xinbai and Taida Co., with net inflows of 9.30 million yuan and 4.06 million yuan respectively [1] - The stocks with the largest net outflow included Dongyangguang, with a net outflow of 348 million yuan, followed by Yatai Group and Yuegui Co., with net outflows of 28.89 million yuan and 24.61 million yuan respectively [1] Capital Flow Summary - The top three stocks in terms of capital flow in the comprehensive industry were: - Dongyangguang: -9.99% change, -34.79 million yuan main capital flow [1] - Yatai Group: -3.72% change, -2.89 million yuan main capital flow [1] - Yuegui Co.: -0.64% change, -2.46 million yuan main capital flow [1] - Conversely, the stocks with positive capital flow included: - Hongmian Co.: +3.33% change, +15.69 million yuan main capital flow [1] - Nanjing Xinbai: +1.15% change, +9.30 million yuan main capital flow [1] - Taida Co.: +1.19% change, +4.06 million yuan main capital flow [1]

Market Overview - The Shanghai Composite Index fell by 1.16% on September 3, with only three sectors showing gains: comprehensive, communication, and electric equipment, which rose by 1.64%, 1.61%, and 1.44% respectively [1] - The defense and military industry and non-bank financial sectors experienced the largest declines, with drops of 5.83% and 3.05% respectively [1] Capital Flow Analysis - The net outflow of capital from the two markets reached 71.426 billion yuan, with only three sectors seeing net inflows: electric equipment (2.958 billion yuan), textile and apparel (222 million yuan), and comprehensive (3.1066 million yuan) [1] - The non-bank financial sector had the highest net outflow, totaling 12.210 billion yuan, followed by the defense and military sector with a net outflow of 10.131 billion yuan [1] Comprehensive Sector Performance - The comprehensive sector saw a rise of 1.64% with a net inflow of 3.1066 million yuan, despite only one of its 16 constituent stocks rising [2] - The stock with the highest net inflow in the comprehensive sector was Dongyangguang, which attracted 105 million yuan, followed by Teli A and Hongmian Co., with inflows of 8.7395 million yuan and 5.0492 million yuan respectively [2] - The stocks with the largest net outflows included Yuegui Co., Zhangzhou Development, and Zongyi Co., with outflows of 65.8146 million yuan, 15.135 million yuan, and 13.3925 million yuan respectively [2]

Financial Performance - Nanjing Xinbai reported a total revenue of 3.212 billion yuan for the first half of 2025, a decrease of 1.2% year-on-year [1] - The net profit attributable to shareholders was 166 million yuan, reflecting a year-on-year increase of 0.76% [1] - The gross margin was 42.87%, down 5.95% compared to the previous year, while the net margin decreased by 7.96% to 6.65% [1] - The total of selling, administrative, and financial expenses was 830 million yuan, accounting for 25.84% of revenue, a decrease of 9.75% year-on-year [1] - Earnings per share remained unchanged at 0.12 yuan, while operating cash flow per share increased by 35.3% to 0.28 yuan [1] Asset and Liability Management - The company reported cash and cash equivalents of 5.346 billion yuan, an increase of 16.94% year-on-year [1] - Accounts receivable decreased by 8.92% to 1.316 billion yuan, indicating improved collection efficiency [1] - Interest-bearing liabilities decreased by 4.95% to 767.1 million yuan, reflecting a healthier debt position [1] Return on Investment - The company's return on invested capital (ROIC) was 1.46%, indicating weak capital returns [3] - The historical median ROIC over the past decade was 5.73%, with the worst year being 2018, which recorded a ROIC of -3.48% [3] Business Model and Operational Insights - The company's performance is primarily driven by research and marketing efforts, necessitating further investigation into the underlying factors of these drivers [4] - The accounts receivable situation is concerning, with accounts receivable to profit ratio reaching 571.94% [5]

Group 1 - The core viewpoint of the article is that Nanjing Xinbai (600682.SH) reported a slight decline in revenue for the first half of 2025, while net profit showed a modest increase [1] - The company achieved total operating revenue of 3.212 billion yuan, representing a year-on-year decrease of 1.2% [1] - The net profit attributable to shareholders of the parent company was 166 million yuan, reflecting a year-on-year growth of 0.76% [1] - The basic earnings per share were reported at 0.12 yuan [1]

Market Overview - The Shanghai Composite Index rose by 0.37% on August 29, with 17 industries experiencing gains, led by the comprehensive and electrical equipment sectors, which increased by 3.86% and 3.12% respectively [1] - The industries with the largest declines were household appliances and transportation, which fell by 1.82% and 1.69% respectively [1] Capital Flow Analysis - The net outflow of capital from the two markets was 69.47 billion yuan, with 7 industries seeing net inflows [1] - The electrical equipment sector had the highest net inflow of capital, amounting to 3.12% increase and a net inflow of 3.13 billion yuan [1] - The food and beverage sector also saw a positive performance with a 2.42% increase and a net inflow of 1.63 billion yuan [1] - A total of 24 industries experienced net capital outflows, with the computer sector leading with a net outflow of 17.30 billion yuan, followed by the electronics sector with 13.11 billion yuan [1] Comprehensive Sector Performance - The comprehensive sector increased by 3.86% with a net inflow of 162 million yuan, comprising 16 stocks, of which 6 rose and 1 hit the daily limit [2] - The top stocks in terms of net capital inflow within the comprehensive sector included Dongyangguang with 173 million yuan, followed by Yuegui Co. and Zhangzhou Development with 42.66 million yuan and 38.25 million yuan respectively [2] - The stocks with the largest net outflows included Zongyi Co., Nanjing Xinbai, and Taida Co., with outflows of 37.67 million yuan, 23.86 million yuan, and 14.37 million yuan respectively [2] Comprehensive Sector Capital Flow Ranking - The top stocks in the comprehensive sector based on today's performance and capital flow are as follows: - Dongyangguang: +9.99%, 35.9% turnover, 172.82 million yuan inflow - Yuegui Co.: +4.07%, 13.45% turnover, 42.66 million yuan inflow - Zhangzhou Development: +1.85%, 5.89% turnover, 38.25 million yuan inflow - Zhejiang Agricultural Co.: +3.93%, 4.33% turnover, 15.68 million yuan inflow - Sanmu Group: -1.77%, 3.71% turnover, 4.32 million yuan outflow [2]

Core Viewpoint - Nanjing Xinbai's 2025 semi-annual report indicates a slight decline in revenue but a modest increase in net profit, highlighting mixed financial performance in the first half of the year [1][2]. Financial Performance - The company's revenue for the first half of 2025 was 3.212 billion yuan, a year-on-year decrease of 1.20% [1]. - The net profit attributable to shareholders was 166 million yuan, reflecting a year-on-year increase of 0.76% [1]. - The net profit excluding non-recurring items was 135 million yuan, showing a year-on-year decline of 23.86% [1]. - Basic earnings per share stood at 0.12 yuan [1]. Profitability Metrics - The gross profit margin for the first half of 2025 was 42.87%, down 2.71 percentage points year-on-year [2]. - The net profit margin was 6.65%, a decrease of 0.58 percentage points compared to the same period last year [2]. - In Q2 2025, the gross profit margin was 42.65%, down 4.22 percentage points year-on-year and 0.46 percentage points quarter-on-quarter [2]. - The net profit margin for Q2 2025 was 3.23%, down 0.88 percentage points year-on-year and 7.00 percentage points quarter-on-quarter [2]. Expense Management - Total operating expenses for the first half of 2025 were 951 million yuan, a decrease of 96.4 million yuan compared to the previous year [2]. - The expense ratio was 29.59%, down 2.61 percentage points year-on-year [2]. - Sales expenses decreased by 6.08%, while management expenses decreased by 15.85% [2]. - Research and development expenses increased by 3.83%, and financial expenses rose significantly by 53.88% [2]. Shareholder Information - As of the end of the first half of 2025, the total number of shareholders was 40,200, a decrease of 1,797 shareholders or 4.28% from the previous quarter [2]. - The average market value per shareholder increased from 202,200 yuan to 225,300 yuan, reflecting an increase of 11.44% [2]. Company Overview - Nanjing Xinbai, established on May 14, 1991, and listed on October 18, 1993, operates in various sectors including retail, healthcare, and elderly care [3]. - The main revenue sources are health and elderly care (31.77%), pharmaceutical manufacturing (24.30%), and professional technical services (17.41%) [3]. - The company is categorized under the comprehensive industry and is associated with concepts such as stem cells, private hospitals, and the elderly care industry [3].

Core Insights - Nanjing Xinbai reported a revenue of 3.212 billion yuan for the first half of 2025, with a net profit of 166 million yuan, reflecting a 0.76% increase year-on-year [1] - The company continues to focus on the health sector, showcasing stable operations and ongoing innovation across various segments [1] Business Segments Summary Elderly Care Business - Ankangtong, a leader in domestic elderly care, secured 105 project bids in the first half of 2025, marking a 28% increase year-on-year [1] - The company added 18 day care centers and one elderly care institution, with a 27% increase in the number of people served nationwide [1] - Ankangtong obtained over 20 new qualifications and collaborated with 92 partners across various sectors including healthcare, education, and finance [1] Overseas Elderly Care Business - Natali's revenue grew by 6.4% in the first half of 2025, with nursing and membership services increasing by 6.1% and 5.0% respectively [2] - The core private pay user base increased by approximately 900, with around 1,500 new or upgraded product and service sales [2] - Natali successfully acquired UK-based MCS and achieved profitability in the UK market, transitioning from government services to international business [2] Biomedical Sector - Qilu Stem Cells completed China's first FACT certification in the first half of 2025 [2] - The company introduced innovative multi-room storage services and diversified products including immune cell storage and testing [2] - A dedicated AI task force was established to promote intelligent customer service in the future [2] Modern Commerce - Nanjing Xinbai's central store introduced 35 new brands and 9 benchmark brands in the first half of 2025, with a 5.4% increase in foot traffic [3] - The company initiated a renovation project to create a youthful and trendy gathering place, with the Nanjing Xinjiekou area becoming a popular social media spot [3] - HOF Nanjing store focused on the first-store economy and subculture, leading to explosive growth in customer traffic [3]

证券代码：600682 证券简称：南京新百 公告编号：临 2025-023 南京新街口百货商店股份有限公司 2025年半年度经营数据公告 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。 南京新街口百货商店股份有限公司（以下简称公司）根据上海证券交易所《上市 公司自律监管指引第 3 号——行业信息披露》之《第四号——零售》和《关于做好主 板上市公司 2025 年半年度报告披露工作的通知》的相关要求，现将公司 2025 年半年 度主要经营数据（未经审计）公告如下： 一、2025 年半年度主要经营数据 （一）主营业务分行业情况 单位:元 币种:人民币 主营分行业 主营业务收入 主营业务成本 毛利率 （%） 营业收入比上 年增减（%） 营业成本比上 年增减（%） 商业 189,253,068.15 66,811,693.70 64.70 -11.97 -6.14 宾馆餐饮业 15,116,019.36 1,755,818.37 88.38 -3.38 -2.76 健康养老、护理业 1,081,941,642.15 869,660,96 ...

南京新街口百货商店股份有限公司2025 年半年度报告 公司代码：600682 公司简称：南京新百 南京新街口百货商店股份有限公司 2025 年半年度报告 1 / 225 南京新街口百货商店股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人蔡邕、主管会计工作负责人唐志清及会计机构负责人（会计主管人员）郭仪平 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的经营计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请投资 者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十 ...