2018 年年度报告 公司代码：600694 公司简称：大商股份 大商股份有限公司 2018 年年度报告 1 / 230 2018 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整， 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、 未出席董事情况 | 未出席董事职务 | 未出席董事姓名 | 未出席董事的原因说明 | 被委托人姓名 | | --- | --- | --- | --- | | 董事 | 张尧志 | 工作原因 | 孟浩 | | 董事 | 段欣刚 | 工作原因 | 闫莉 | | 独立董事 | 胡咏华 | 工作原因 | 孙广亮 | 三、 大华会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人牛钢、主管会计工作负责人闫莉及会计机构负责人（会计主管人员）付岩声明： 保证年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 经大华会计师事务所（特殊普通合伙）审计， 2018 年度母公司实现净利润 1,205,757,362.63 元，提取 10 ...

2018 年第三季度报告 大商股份有限公司 2018 年第三季度报告 公司代码：600694 公司简称：大商股份 1 / 20 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 8 | 2018 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人牛钢、主管会计工作负责人闫莉及会计机构负责人（会计主管人员）付岩保证季 度报告中财务报表的真实、准确、完整。 | 润 | | | | | | --- | --- | --- | --- | --- | | 加权平均净资产 | 10.25 | 8.99 | 增加 1.26 | 个百分点 | | 收益率（%） | | | | | | 基本每股收益 | 2.67 | 2.20 | | 21.36 | | （元/股） | ...

2018 年半年度报告 公司代码：600694 公司简称：大商股份 大商股份有限公司 2018 年半年度报告 1 / 167 2018 年半年度报告 重要提示 五、 经董事会审议的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、 重大风险提示 十、 其他 □适用 √不适用 2 / 167 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、准确、完 整，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、 公司负责人牛钢、主管会计工作负责人闫莉及会计机构负责人（会计主管人员）付岩声明： 保证半年度报告中财务报告的真实、准确、完整。 | 第一节 | 释义 4 | | --- | --- | | 第二节 | 公司简介和主要财务指标 4 | | ...

Financial Performance - Operating income decreased by 7.51% to CNY 7,143,824,454.16 year-on-year[6] - Net profit attributable to shareholders increased by 6.88% to CNY 351,933,033.43 compared to the same period last year[6] - Basic and diluted earnings per share rose by 7.14% to CNY 1.20[6] - Total revenue for Q1 2018 was ¥7,143,824,454.16, a decrease of 7.5% from ¥7,724,188,512.96 in the same period last year[26] - Net profit for Q1 2018 reached ¥375,697,363.84, an increase of 12.9% compared to ¥332,558,410.18 in Q1 2017[27] - Net profit for Q1 2018 was ¥785,077,348.19, a decrease of 13.1% compared to ¥903,430,240.50 in the same period last year[30] - Operating profit for Q1 2018 was ¥809,249,140.62, down 12.2% from ¥921,802,527.97 in Q1 2017[30] Cash Flow - Cash flow from operating activities improved significantly, with a net cash inflow of CNY 653,547,186.09, a 853.64% increase year-on-year[6] - The company's cash flow from operating activities decreased by 86.72 million RMB compared to the previous period, totaling 653.55 million RMB[13] - Cash flow from operating activities generated a net amount of ¥653,547,186.09, a significant improvement from a net outflow of ¥86,718,568.02 in the previous year[32] - Total cash inflow from operating activities was ¥8,898,019,560.37, compared to ¥9,279,417,278.74 in the prior year, reflecting a decrease of 4.1%[32] - Cash flow from investing activities resulted in a net outflow of ¥962,588,043.14, worsening from a net outflow of ¥80,495,648.91 in the same period last year[33] - The net cash flow from operating activities was -$15,026,511.59, a decrease from -$118,687,687.76 in the previous year, indicating improved operational efficiency[36] - Cash outflow from operating activities totaled $1,441,226,986.89, compared to $1,724,601,501.58 in the previous year, suggesting a reduction in operational cash expenses[36] Assets and Liabilities - Total assets increased by 2.57% to CNY 18,095,995,271.31 compared to the end of the previous year[6] - The company's total liabilities increased to 10.11 billion RMB from 9.98 billion RMB, reflecting a rise in short-term borrowings[18] - The company's total current assets reached 11.03 billion RMB, an increase from 10.49 billion RMB at the beginning of the year[16] - The company's total assets reached ¥10,227,677,732.98, up from ¥9,377,056,189.09 in the previous year, indicating a growth of 9.1%[22] - Total liabilities amounted to ¥2,438,866,517.78, an increase from ¥2,373,322,322.08 year-over-year[23] Investments - Investment income increased by 26.95 million RMB, attributed to higher bank wealth management returns[13] - The net cash flow from investing activities showed a significant outflow of 962.59 million RMB, indicating increased purchases of bank wealth management products[13] - The company reported an investment income of ¥26,953,791.41, which is significantly higher than ¥14,187,466.55 from the previous year[26] - The investment income for Q1 2018 was ¥713,949,436.88, a decrease of 16.5% from ¥855,975,246.15 in Q1 2017[30] - The company paid $2,077,000,000.00 for investments, an increase from $1,883,775,000.00 in the previous year, highlighting a strategic focus on growth through investments[36] Shareholder Information - The number of shareholders reached 24,291, with the top ten shareholders holding a combined 84.75% of shares[10] - The largest shareholder, Dashi Group Co., Ltd., holds 24.03% of shares, with 26,239,900 shares pledged[10] Current Assets - Prepayments increased to CNY 192,471,378.57, up from CNY 142,063,378.53 at the beginning of the period[12] - Other current assets rose to CNY 2,703,170,002.81, compared to CNY 1,730,679,600.77 at the start of the period[12] - Total current assets increased to ¥6,997,739,799.50, compared to ¥6,172,018,691.89 in the previous period, reflecting a growth of 13.4%[22] Retained Earnings - The company's retained earnings increased to 5.41 billion RMB, compared to 5.06 billion RMB at the beginning of the year, indicating a positive trend in profitability[18]

Financial Performance - In 2017, the company achieved a net profit of CNY 1,544,873,875.37, with a proposed cash dividend of CNY 9.00 per 10 shares, totaling CNY 264,346,787.7[5]. - The company's operating revenue for 2017 was CNY 26,743,513,679.75, representing a decrease of 4.79% compared to CNY 28,087,519,979.94 in 2016[21]. - The net profit attributable to shareholders of the listed company increased by 24.69% to CNY 876,556,293.09 from CNY 702,992,437.79 in 2016[21]. - Basic earnings per share rose to CNY 2.98, a 24.69% increase from CNY 2.39 in the previous year[23]. - The total assets of the company at the end of 2017 were CNY 17,641,971,812.45, a decrease of 1.64% from CNY 17,935,840,197.12 in 2016[21]. - The company's net cash flow from operating activities was CNY 197,864,898.45, a significant decline of 90.18% compared to CNY 2,014,348,723.94 in 2016[21]. - The weighted average return on equity increased to 12.05%, up by 1.52 percentage points from 10.53% in 2016[23]. - The company reported a cumulative undistributed profit of CNY 4,979,445,827.69 as of December 31, 2017[5]. Revenue Trends - For the full year, the company achieved total revenue of ¥26.74 billion, a year-on-year decrease of 4.79%, while net profit attributable to shareholders increased by 24.69% to ¥877 million[36]. - In Q1, the company reported revenue of approximately ¥7.72 billion, which decreased to ¥6.35 billion in Q2, and further to ¥6.24 billion in Q3, before slightly recovering to ¥6.43 billion in Q4[25]. - The company reported a significant increase in net profit after excluding non-recurring items, which reached ¥851 million, a year-on-year growth of 28.34%[36]. - The company reported a total revenue of 248,036,931.67 with a profit margin of 25.47%[72]. - The company achieved a revenue of 135,321,224.21 from its Dalian New Mart, with a profit margin of 23.05%[72]. Operational Efficiency - The company implemented three key reform measures: "Four Selfs and One Auction," "Joint Sales Contracting," and "Entrepreneurial Partnership" to enhance operational efficiency[34]. - The company’s strategy focuses on multi-format and multi-brand development, leveraging both online and offline channels to meet diverse consumer needs[32]. - Operating costs decreased by 5.12% to ¥20,697,645,316.53, contributing to a reduction in overall expenses[38]. - The company plans to continue expanding its store network and improving operational capabilities in response to market challenges[57]. Market Challenges - The overall economic environment in the regions where the company operates remains challenging, with slow growth in resident income and increased competition[53]. - The company faces intense competition in Shenyang, where the commercial project vacancy rate is as high as 24%, prompting a focus on store upgrades and product structure optimization[54]. - The company is addressing market challenges by enhancing leisure areas and adjusting marketing strategies to attract new customer flows[64]. - The company operates in a challenging retail environment in Dandong, with increased competition from new entrants like Wanda Plaza[57]. Strategic Initiatives - The company plans to innovate operations and refine management to seize new strategic development opportunities in 2018[90]. - The company aims to leverage modern scientific technology to enhance its growth and competitiveness[91]. - The company plans to achieve a revenue growth of approximately 5% year-on-year in 2018, while controlling expenses to maintain stable profit growth[94]. - The company is considering strategic acquisitions to enhance its market position, with potential targets identified in the retail sector[157]. Shareholder Engagement - The company is committed to a stable and continuous cash dividend policy, prioritizing cash dividends for shareholder returns[98]. - The total number of ordinary shareholders increased from 21,875 to 25,644 during the reporting period[140]. - The company plans to continue increasing its shareholding in the listed company by no less than 1%, with a purchase price range of 38-45 yuan per share[103]. Related Party Transactions - The total amount of related party transactions reached approximately ¥129,527,608.02, with significant contributions from various subsidiaries[110]. - The company engaged in related party transactions with a total value of ¥31,652,793.35 from Fazhi Aomei, showcasing its market presence[111]. - The overall related party transactions demonstrate a diverse portfolio with various subsidiaries contributing to the total figures[110]. Corporate Governance - The company has implemented a governance structure that prioritizes the rights of all shareholders, particularly minority shareholders[133]. - The board of directors has approved a stock buyback program worth 500 million RMB to enhance shareholder value[158]. - The company conducts a comprehensive training program for employees, including onboarding and ongoing training initiatives[164]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[157]. - Market expansion plans include entering two new provinces, which are projected to increase market share by 5%[158]. - The company plans to maintain a robust financial strategy to support ongoing operations and future investments, ensuring sustainable growth[117].

[Important Notice](index=3&type=section&id=%E4%B8%80%E3%80%81%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The company's Board of Directors, Supervisory Board, and senior management guarantee the report's truthfulness, accuracy, and completeness, confirming it is unaudited - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the report content, and confirm that this quarterly report has not been audited[5](index=5&type=chunk) [Company Profile](index=3&type=section&id=%E4%BA%8C%E3%80%81%20%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) This section provides an overview of the company's key financial data, non-recurring gains and losses, and shareholder information [Key Financial Data](index=3&type=section&id=2.1%20%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) As of Q3 2017, total assets slightly increased by 0.50%, while year-to-date operating revenue decreased by 6.03% and net profit attributable to parent company shareholders slightly decreased by 0.24%, with net cash flow from operating activities significantly declining by 42.42% Key Financial Indicators for Q1-Q3 2017 | Indicator | As of the end of the reporting period / Year-to-date | As of the end of the previous year / Same period last year | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets (Yuan) | 18,024,861,943.93 | 17,935,840,197.12 | 0.50% | | Net Assets Attributable to Shareholders of Listed Company (Yuan) | 7,167,326,727.56 | 6,942,475,626.58 | 3.24% | | Operating Revenue (Yuan) | 20,311,331,836.91 | 21,613,691,027.97 | -6.03% | | Net Profit Attributable to Shareholders of Listed Company (Yuan) | 646,523,550.69 | 648,071,903.72 | -0.24% | | Net Profit Attributable to Parent Company Shareholders After Non-recurring Gains and Losses (Yuan) | 629,553,293.88 | 621,370,987.72 | 1.32% | | Net Cash Flow from Operating Activities (Yuan) | 1,025,375,171.76 | 1,780,663,876.34 | -42.42% | | Basic Earnings Per Share (Yuan/share) | 2.20 | 2.21 | -0.45% | [Non-recurring Gains and Losses Items and Amounts](index=4&type=section&id=%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) In Q1-Q3 2017, the company's total non-recurring gains and losses amounted to **16.97 million Yuan**, primarily from debt restructuring gains and other non-operating income and expenses Non-recurring Gains and Losses Items Year-to-Date | Item | Amount (Yuan) | | :--- | :--- | | Gains and Losses on Disposal of Non-current Assets | -1,845,091.53 | | Government Grants | 2,724,747.00 | | Gains and Losses from Debt Restructuring | 9,709,742.17 | | Other Non-operating Income and Expenses | 12,933,106.98 | | Impact on Minority Interests (After Tax) | -1,235,557.82 | | Income Tax Impact | -5,316,689.99 | | **Total** | **16,970,256.81** | [Shareholder Information](index=4&type=section&id=2.2%20%E6%88%AA%E6%AD%A2%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%9A%84%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E6%B5%81%E9%80%9A%E8%82%A1%E4%B8%9C%EF%BC%88%E6%88%96%E6%97%A0%E9%99%90%E5%94%AE%E6%9D%A1%E4%BB%B6%E8%82%A1%E4%B8%9C%EF%BC%89%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the end of the reporting period, the company had **25,789 shareholders**, with Dashang Group Co., Ltd., Anbang Life Insurance Co., Ltd., and Dalian Guoshang Asset Management Co., Ltd. as the top three - As of the end of the reporting period, the company had a total of **25,789 shareholders**[9](index=9&type=chunk) Top Ten Shareholders' Shareholding | Shareholder Name | Number of Shares Held | Percentage (%) | | :--- | :--- | :--- | | Dashang Group Co., Ltd. | 68,125,947 | 23.19 | | Anbang Life Insurance Co., Ltd. - Conservative Investment Portfolio | 32,367,690 | 11.02 | | Dalian Guoshang Asset Management Co., Ltd. | 25,013,382 | 8.52 | | Shenzhen Maoye Commercial Building Co., Ltd. | 14,685,923 | 5.00 | | Anbang Pension Insurance Co., Ltd. - Group Universal Product | 9,575,284 | 3.26 | | Central Huijin Asset Management Co., Ltd. | 8,721,300 | 2.97 | | Mao Yueming | 5,298,184 | 1.80 | | National Social Security Fund 104 Portfolio | 4,389,871 | 1.49 | | Liuzhou Jiali Real Estate Development Co., Ltd. | 3,238,048 | 1.10 | | Wang Zhifeng | 3,140,000 | 1.07 | - Anbang Life Insurance Co., Ltd. - Conservative Investment Portfolio and Anbang Pension Insurance Co., Ltd. - Group Universal Product constitute parties acting in concert due to their affiliated relationship[11](index=11&type=chunk) [Preferred Shareholder Information](index=6&type=section&id=2.3%20%E6%88%AA%E6%AD%A2%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E4%BC%98%E5%85%88%E8%82%A1%E6%97%A0%E9%99%90%E5%94%AE%E6%9D%A1%E4%BB%B6%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the end of the reporting period, the company had no preferred shareholders - The company had no preferred shareholders during the reporting period[12](index=12&type=chunk) [Significant Events](index=6&type=section&id=%E4%B8%89%E3%80%81%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section details significant changes in key financial statement items and indicators, along with explanations of other important matters [Analysis of Significant Changes in Key Financial Statement Items and Financial Indicators](index=6&type=section&id=3.1%20%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) During the reporting period, several financial indicators, including other current assets, construction in progress, asset impairment losses, and investment income, significantly increased due to factors like wealth management product purchases and renovation projects, while short-term borrowings and net cash flow from operating activities notably decreased Significant Financial Indicator Changes and Reasons | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Other Current Assets | 46.64% | Increased purchase of bank wealth management products in this period | | Construction in Progress | 94.61% | Increased renovation projects in this period | | Financial Expenses | 312.59% | Decreased interest income due to the purchase of bank wealth management products in this period | | Asset Impairment Losses | 64.36% | Increased provision for inventory depreciation in this period | | Investment Income | 3090.96% | Increased bank wealth management products in this period | | Net Cash Flow from Operating Activities | -42.42% | Decreased cash received from sales of goods and rendering of services in this period | | Net Cash Flow from Investing Activities | -310.50% | Increased purchase of bank wealth management products in this period | [Explanations of Other Significant Matters](index=7&type=section&id=3.2%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9%E8%BF%9B%E5%B1%95%E6%83%85%E5%86%B5%E5%8F%8A%E5%85%B6%E5%BD%B1%E5%93%8D%E5%92%8C%E8%A7%A3%E5%86%B3%E6%96%B9%E6%A1%88%E7%9A%84%E5%88%86%E6%9E%90%E8%AF%B4%E6%98%8E) During the reporting period, the company had no significant matter developments, overdue unfulfilled commitments, or situations requiring a major performance change warning - There were no significant matter developments, their impacts, or analyses of solutions during the reporting period[12](index=12&type=chunk) - There were no overdue unfulfilled commitments during the reporting period[12](index=12&type=chunk) - The company did not forecast that the cumulative net profit from the beginning of the year to the end of the next reporting period might be a loss or undergo significant changes compared to the same period last year[12](index=12&type=chunk) [Appendix](index=8&type=section&id=%E5%9B%9B%E3%80%81%20%E9%99%84%E5%BD%95) The appendix contains the company's unaudited consolidated and parent company financial statements for Q3 2017 [Financial Statements](index=8&type=section&id=4.1%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) The appendix includes the company's consolidated and parent company balance sheets as of September 30, 2017, and income and cash flow statements for January-September 2017, all unaudited [Consolidated Balance Sheet](index=8&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2017, total assets were **18.025 billion Yuan** (up 0.50%), total liabilities were **10.575 billion Yuan** (down 2.60%), and equity attributable to parent company owners was **7.167 billion Yuan** (up 3.24%), with current assets, primarily cash and wealth management products, forming about 60% of the asset structure Key Items from Consolidated Balance Sheet (Unit: Billion Yuan) | Item | Period-end Balance | Year-beginning Balance | | :--- | :--- | :--- | | Total Assets | 18.025 | 17.936 | | Total Liabilities | 10.575 | 10.857 | | Total Equity Attributable to Parent Company Owners | 7.167 | 6.942 | [Parent Company Balance Sheet](index=10&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) At the parent company level, total assets increased by 12.44% to **9.355 billion Yuan**, driven by other current assets and receivables, while total liabilities decreased by 7.86% to **2.442 billion Yuan** Key Items from Parent Company Balance Sheet (Unit: Billion Yuan) | Item | Period-end Balance | Year-beginning Balance | | :--- | :--- | :--- | | Total Assets | 9.355 | 8.320 | | Total Liabilities | 2.442 | 2.650 | | Total Owners' Equity | 6.913 | 5.670 | [Consolidated Income Statement](index=12&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In Q1-Q3 2017, consolidated operating revenue decreased by 6.03% to **20.311 billion Yuan**, and net profit attributable to parent company owners slightly decreased by 0.24% to **647 million Yuan**, with basic earnings per share at **2.20 Yuan** Key Data from Consolidated Income Statement for Q1-Q3 2017 (Unit: Billion Yuan) | Item | Year-to-date Amount | Same Period Last Year Amount | | :--- | :--- | :--- | | Total Operating Revenue | 20.311 | 21.614 | | Operating Profit | 1.004 | 0.931 | | Total Profit | 1.028 | 0.970 | | Net Profit Attributable to Parent Company Owners | 0.647 | 0.648 | | Basic Earnings Per Share (Yuan/share) | 2.20 | 2.21 | [Parent Company Income Statement](index=15&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E5%88%A9%E6%B6%A6%E8%A1%A8) In Q1-Q3 2017, parent company operating revenue decreased by 1.71% to **3.766 billion Yuan**, but net profit significantly increased by 41.51% to **1.454 billion Yuan**, primarily driven by a 43.23% increase in investment income to **1.282 billion Yuan** Key Data from Parent Company Income Statement for Q1-Q3 2017 (Unit: Billion Yuan) | Item | Year-to-date Amount | Same Period Last Year Amount | | :--- | :--- | :--- | | Operating Revenue | 3.766 | 3.831 | | Investment Income | 1.282 | 0.895 | | Operating Profit | 1.524 | 1.073 | | Net Profit | 1.454 | 1.028 | [Consolidated Cash Flow Statement](index=17&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In Q1-Q3 2017, net cash flow from operating activities decreased by 42.42% to **1.025 billion Yuan**, while investing activities resulted in a net outflow of **937 million Yuan** and financing activities a net outflow of **646 million Yuan**, leading to a total net decrease of **561 million Yuan** in cash and cash equivalents Consolidated Cash Flow Statement for Q1-Q3 2017 (Unit: Billion Yuan) | Item | Year-to-date Amount | Same Period Last Year Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1.025 | 1.781 | | Net Cash Flow from Investing Activities | -0.937 | -0.228 | | Net Cash Flow from Financing Activities | -0.646 | -0.399 | | Net Increase in Cash and Cash Equivalents | -0.561 | 1.158 | [Parent Company Cash Flow Statement](index=18&type=section&id=%E6%AF%8D%E5%85%AC%E5%8F%B8%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In Q1-Q3 2017, the parent company's net cash flow from operating activities turned negative with a **37 million Yuan** outflow, while investing activities generated a **272 million Yuan** inflow, and financing activities resulted in a **764 million Yuan** outflow, leading to a **529 million Yuan** net decrease in cash and cash equivalents Parent Company Cash Flow Statement for Q1-Q3 2017 (Unit: Billion Yuan) | Item | Year-to-date Amount | Same Period Last Year Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -0.037 | 0.360 | | Net Cash Flow from Investing Activities | 0.272 | 0.960 | | Net Cash Flow from Financing Activities | -0.764 | -0.425 | | Net Increase in Cash and Cash Equivalents | -0.529 | 0.894 | [Audit Report](index=20&type=section&id=4.2%20%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This quarterly report has not been audited - This company's third-quarter report has not been audited[5](index=5&type=chunk)[36](index=36&type=chunk)

公司代码：600694 公司简称：大商股份 大商股份有限公司 2017 年半年度报告 重要提示 2017 年半年度报告 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、准确、完 整，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。 否 四、 公司负责人牛钢、主管会计工作负责人闫莉及会计机构负责人（会计主管人员）付岩声明： 保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的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关联方非经营性占用资金情况 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 无 1 / 161 2017 年半年度报告 十、 其他 □适用 √不适用 2 / 161 | 第一节 | 释义 | 4 | | --- | --- | --- | | 第二节 | 公司简介和主要 ...

2017 年第一季度报告 公司代码：600694 公司简称：大商股份 大商股份有限公司 2017 年第一季度报告 1 / 17 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 7 | 2017 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | | | | | 减(%) | | | 总资产 | 17,639,272,143.40 | 17,935,840,197.12 | | -1.65 | | 归属于上市公司 | 7,172,507,686.70 | 6,942,475,626.58 | | 3.31 | | 股东的净资产 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | | 经营活动产生的 | -86,718,568.02 | 338,131,393 ...

[Section I Definitions](index=4&type=section&id=Section%20I%20Definitions) This section provides clear definitions for specific terms used throughout the report, including company abbreviations, regulatory bodies, and reporting periods [I. Definitions](index=4&type=section&id=I.%20Definitions) This section provides clear definitions for specific terms used throughout the report, including company abbreviations, regulatory bodies, and reporting periods - The reporting period is defined as January 1, 2016, to December 31, 2016[10](index=10&type=chunk) [Section II Company Profile and Key Financial Indicators](index=4&type=section&id=Section%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section presents the company's fundamental information and a summary of its key financial performance over the past three years [I. Company Information](index=4&type=section&id=I.%20Company%20Information) This section provides the company's basic corporate information, including names, legal representative, contact details, addresses, website, and stock listing information - The company's Chinese abbreviation is "Dashang Co.", stock code is **600694**, listed on the Shanghai Stock Exchange[12](index=12&type=chunk)[17](index=17&type=chunk) [VII. Key Accounting Data and Financial Indicators for the Past Three Years](index=5&type=section&id=VII.%20Key%20Accounting%20Data%20and%20Financial%20Indicators%20for%20the%20Past%20Three%20Years) In 2016, the company's operating revenue decreased by 8.90% year-on-year, while net profit attributable to shareholders increased by 6.17%, with net cash flow from operating activities significantly growing by 54.98% Key Accounting Data | Main Accounting Data | 2016 | 2015 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 28.088 Billion Yuan | 30.832 Billion Yuan | -8.90% | | Net Profit Attributable to Shareholders of Listed Company | 703 Million Yuan | 662 Million Yuan | 6.17% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) | 663 Million Yuan | 638 Million Yuan | 3.88% | | Net Cash Flow from Operating Activities | 2.014 Billion Yuan | 1.300 Billion Yuan | 54.98% | | **Asset Status (Year-end)** | **2016 Year-end** | **2015 Year-end** | **YoY Change at Year-end (%)** | | Net Assets Attributable to Shareholders of Listed Company | 6.942 Billion Yuan | 6.390 Billion Yuan | 8.65% | | Total Assets | 17.936 Billion Yuan | 16.568 Billion Yuan | 8.26% | Key Financial Indicators | Main Financial Indicators | 2016 | 2015 | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (Yuan/share) | 2.39 | 2.25 | 6.22% | | Weighted Average Return on Net Assets (%) | 10.53% | 10.66% | Decrease by 0.13 percentage points | [IX. Key Quarterly Financial Data for 2016](index=6&type=section&id=IX.%20Key%20Quarterly%20Financial%20Data%20for%202016) The company's 2016 quarterly financial data shows operating revenue highest in Q1, then stable, while net profit attributable to parent company declined sequentially from **294 million Yuan** in Q1 to **55 million Yuan** in Q4 Quarterly Financial Data (2016) | Indicator (RMB Yuan) | Q1 | Q2 | Q3 | Q4 | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 8.544 Billion | 6.553 Billion | 6.517 Billion | 6.474 Billion | | Net Profit Attributable to Shareholders of Listed Company | 294 Million | 218 Million | 136 Million | 55 Million | [X. Non-recurring Gains and Losses Items and Amounts](index=7&type=section&id=X.%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) In 2016, the company's total non-recurring gains and losses amounted to **39.96 million Yuan**, primarily from debt restructuring gains, government subsidies, and other non-operating income and expenses Non-recurring Gains and Losses | Non-recurring Gains and Losses Item | 2016 Amount (Yuan) | 2015 Amount (Yuan) | | :--- | :--- | :--- | | Debt Restructuring Gains/Losses | 31,461,519.53 | 11,618,802.95 | | Government Grants | 13,304,494.38 | 9,079,908.62 | | Other Non-operating Income and Expenses | 17,149,965.87 | 12,522,735.28 | | **Total** | **39,962,217.47** | **23,833,279.89** | [Section III Company Business Overview](index=8&type=section&id=Section%20III%20Company%20Business%20Overview) This section outlines the company's primary business activities, operating model, and core competitive advantages within the retail industry [I. Description of Main Business, Operating Model, and Industry Conditions During the Reporting Period](index=8&type=section&id=I.Description%20of%20Main%20Business%2C%20Operating%20Model%2C%20and%20Industry%20Conditions%20During%20the%20Reporting%20Period) The company primarily engages in commercial retail, covering department stores, supermarkets, and electronics, with over 160 physical stores, operating a multi-format, multi-brand model including online platform - The company engages in commercial retail, covering **department stores, supermarkets, and electronics**, with over **160 physical stores**[29](index=29&type=chunk) - The operating model is a mixed development of multiple formats and brands, including high-end department stores like **Mykal**, large shopping centers like **New Mart**, fashion department stores like **Qiansheng**, and the online platform **Tiangou.com**[29](index=29&type=chunk) [III. Analysis of Core Competencies During the Reporting Period](index=8&type=section&id=III.Analysis%20of%20Core%20Competencies%20During%20the%20Reporting%20Period) The company's core competencies include a leading national store network, multi-format and O2O omni-channel development, quality merchandise channels, professional management, a large loyal customer base, and strong brand influence - The company possesses an industry-leading national network with over **160 physical stores**, ranking among the top in sales scale and profitability[31](index=31&type=chunk) - It adopts a multi-format, multi-brand (e.g., **Mykal**, **New Mart**) and O2O (**Tiangou.com**) omni-channel development model to meet diverse consumer needs[31](index=31&type=chunk) - The company has a large loyal customer base, with member sales revenue accounting for over **75%** of total operating revenue[32](index=32&type=chunk) [Section IV Management Discussion and Analysis](index=9&type=section&id=Section%20IV%20Management%20Discussion%20and%20Analysis) This section provides a comprehensive discussion and analysis of the company's operational performance, financial position, and future development strategies [I. Management Discussion and Analysis](index=9&type=section&id=I.Management%20Discussion%20and%20Analysis) In 2016, facing pressure from the retail environment and economic transformation, the company actively adjusted by reforming merchandise operations, advancing O2O strategy, innovating business models, strengthening management, and controlling costs - The company faces multiple pressures including slowing macroeconomic growth, economic transformation in Northeast China, and rising costs in the physical retail industry[34](index=34&type=chunk)[35](index=35&type=chunk) - The company adopted five major countermeasures: reforming merchandise operations, developing O2O strategy, innovating business models, strengthening enterprise management, and controlling costs and expenses[35](index=35&type=chunk) [II. Key Operating Performance During the Reporting Period](index=10&type=section&id=II.Key%20Operating%20Performance%20During%20the%20Reporting%20Period) During the reporting period, the company achieved **28.088 billion Yuan** in operating revenue, a 8.90% decrease, but operating profit and net profit attributable to parent company increased by 11.00% and 6.17% respectively, indicating improved cost control and operational efficiency Key Financial Indicators (2016) | Financial Indicators | 2016 | YoY Growth | | :--- | :--- | :--- | | Operating Revenue | 28.088 Billion Yuan | -8.90% | | Operating Profit | 1.090 Billion Yuan | 11.00% | | Net Profit Attributable to Parent Company | 703 Million Yuan | 6.17% | | Earnings Per Share | 2.39 Yuan | - | | Total Assets | 17.936 Billion Yuan | 8.26% | [(I) Main Business Analysis](index=10&type=section&id=(I)Main%20Business%20Analysis) In 2016, the company's main business revenue and costs both decreased year-on-year, with department store revenue down 10.76% and supermarket revenue down 6.17%, though gross margins slightly improved across all formats Main Business Financial Data | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 28,087,519,979.94 | 30,832,061,062.35 | -8.90% | | Operating Cost | 21,814,265,199.94 | 24,162,111,777.41 | -9.72% | | Financial Expenses | 6,309,079.25 | -6,659,786.28 | 194.73% | | Net Cash Flow from Operating Activities | 2,014,348,723.94 | 1,299,740,768.36 | 54.98% | Main Business by Format | Main Business by Format | YoY Change in Operating Revenue (%) | YoY Change in Gross Margin | | :--- | :--- | :--- | | Department Store Format | -10.76% | Increase by 0.47 percentage points | | Supermarket Format | -6.17% | Increase by 0.22 percentage points | | Home Appliance Chain Format | -6.92% | Increase by 0.10 percentage points | [(III) Analysis of Assets and Liabilities](index=13&type=section&id=(III)%20Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, the company's asset and liability structure changed, with interest receivable significantly increasing by 1740.08% due to bank wealth management products, and goodwill decreasing by 60.50% due to impairment provisions Asset and Liability Changes | Item Name | Current Period End Amount (Yuan) | Change from Prior Period End (%) | Primary Reason | | :--- | :--- | :--- | :--- | | Interest Receivable | 22,348,006.86 | 1740.08% | Increased purchase of bank wealth management products this period | | Goodwill | 57,815,629.13 | -60.50% | Impairment provision for goodwill recognized this period | | Notes Payable | 292,895,831.70 | 58.13% | Increased use of acceptance bills for goods settlement this period | [(IV) Industry Operating Information Analysis](index=14&type=section&id=(IV)%20Industry%20Operating%20Information%20Analysis) The company's main operating regions face intense competition and economic downturn, yet it maintains scale and brand advantages with over 160 stores, while its online platform Tiangou.com achieved **11.54 billion Yuan** in transactions and member sales accounted for **75.91%** of total revenue - The company's main operating regions (e.g., **Dalian, Shenyang, Fushun, Shandong**) face intense competition, severe oversupply, and economic downturn pressure in the commercial retail sector[51](index=51&type=chunk)[53](index=53&type=chunk)[54](index=54&type=chunk)[56](index=56&type=chunk) - As of year-end 2016, the online platform **Tiangou.com** had **6.152 million** registered users, a transaction volume of **11.54 billion Yuan**, and an average order value of **546 Yuan**[81](index=81&type=chunk) - The company has **24.66 million** members, with member sales revenue accounting for **75.91%** of total operating revenue, demonstrating strong customer loyalty[83](index=83&type=chunk) [III. Discussion and Analysis of the Company's Future Development](index=35&type=section&id=III.Discussion%20and%20Analysis%20of%20the%20Company's%20Future%20Development) Looking to 2017, the company anticipates continued challenges in physical retail but new opportunities from supply-side reform, focusing on 'best products' and 'sales growth' through merchandise reform, O2O integration, network optimization, enhanced customer experience, and strengthened personnel management - The 2017 operating plan targets approximately **5%** year-on-year growth in operating revenue and costs, with sustained profit growth[98](index=98&type=chunk) - The core future development strategy involves continuous merchandise reform, deepening O2O integration, optimizing the physical store network, enhancing consumer experience, and strengthening personnel management[96](index=96&type=chunk)[97](index=97&type=chunk) - The company faces three main risks: macroeconomic conditions, investment in operational transformation, and intensifying industry competition[99](index=99&type=chunk)[100](index=100&type=chunk)[101](index=101&type=chunk) [Section V Significant Events](index=37&type=section&id=Section%20V%20Significant%20Events) This section details important corporate actions and events during the reporting period, including profit distribution, changes in accounting firms, related party transactions, and guarantees [I. Ordinary Share Profit Distribution or Capital Reserve Conversion Plan](index=37&type=section&id=I.Ordinary%20Share%20Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Plan) The 2016 profit distribution plan proposes a cash dividend of **7.2 Yuan** (tax inclusive) per 10 shares based on a total share capital of **294 million shares**, totaling **211 million Yuan**, representing **30.08%** of net profit attributable to parent company - The 2016 profit distribution plan is a cash dividend of **7.2 Yuan** (tax inclusive) per 10 shares, totaling **211 million Yuan**[105](index=105&type=chunk) Profit Distribution History | Dividend Year | Dividend Per 10 Shares (Yuan, tax inclusive) | Cash Dividend Amount (Yuan) | Ratio to Net Profit Attributable to Parent Company (%) | | :--- | :--- | :--- | :--- | | 2016 | 7.2 | 211,477,430.16 | 30.08% | | 2015 | 4.6 | 135,110,580.38 | 20.41% | | 2014 | 12.6 | 370,085,502.78 | 30.14% | [VI. Appointment and Dismissal of Accounting Firms](index=39&type=section&id=VI.Appointment%20and%20Dismissal%20of%20Accounting%20Firms) During the reporting period, the company changed its accounting firm from Ernst & Young Hua Ming to Dahua Certified Public Accountants (Special General Partnership) for 2016 financial and internal control audits due to fee disagreement - The company's 2016 audit firm changed from **Ernst & Young Hua Ming LLP** to **Dahua Certified Public Accountants (Special General Partnership)**[111](index=111&type=chunk)[112](index=112&type=chunk) - The reason for the change was a disagreement between the company and **Ernst & Young Hua Ming** regarding audit fees[111](index=111&type=chunk)[112](index=112&type=chunk) [XIV. Significant Related Party Transactions](index=41&type=section&id=XIV.Significant%20Related%20Party%20Transactions) During the reporting period, the company engaged in multiple daily operating related party transactions with its parent company Dashang Group and its subsidiaries, primarily involving goods purchase and sales, labor services, and property leasing - The company has frequent daily operating related party transactions with its affiliates, including goods purchase and sales and labor services, totaling **790 million Yuan**[116](index=116&type=chunk)[117](index=117&type=chunk)[118](index=118&type=chunk)[119](index=119&type=chunk)[120](index=120&type=chunk)[121](index=121&type=chunk) - At period-end, the company provided **272 million Yuan** in funds to related parties, while related parties provided **175 million Yuan** to the company, primarily for operating current accounts[123](index=123&type=chunk)[124](index=124&type=chunk)[125](index=125&type=chunk)[126](index=126&type=chunk) [(II) Guarantees](index=52&type=section&id=(II)Guarantees) As of the end of the reporting period, the company's total guarantees amounted to **2.152 billion Yuan**, representing **30.99%** of its net assets, with **1.4 billion Yuan** for the controlling shareholder Dashang Group and **752 million Yuan** for subsidiaries Guarantee Status | Guarantee Status | Amount (Yuan) | | :--- | :--- | | Total Guarantees at Period-end (A+B) | 2,152,000,000 | | Ratio of Total Guarantees to Company Net Assets (%) | 30.99% | | Amount of Guarantees Provided for Shareholders, Actual Controllers, and Their Affiliates (C) | 1,400,000,000 | [Section VI Changes in Ordinary Shares and Shareholder Information](index=54&type=section&id=Section%20VI%20Changes%20in%20Ordinary%20Shares%20and%20Shareholder%20Information) This section details the company's share capital structure, changes in ordinary shares, and information on its top shareholders [(II) Shareholder Information](index=55&type=section&id=(II)%20%E6%88%AA%E6%AD%A2%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E3%80%81%E5%89%8D%E5%8D%81%E5%90%8D%E6%B5%81%E9%80%9A%E8%82%A1%E4%B8%9C%EF%BC%88%E6%88%96%E6%97%A0%E9%99%90%E5%94%AE%E6%9D%A1%E4%BB%B6%E8%82%A1%E4%B8%9C%EF%BC%89%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of year-end 2016, the company had **30,555** ordinary shareholders, with Dashang Group Co., Ltd. as the largest shareholder (**15.75%**), Anbang entities holding **14.28%** combined, and Dalian Guoshang Asset Management Co., Ltd. holding **8.52%** Top Ten Shareholders | Shareholder Name | Shares Held at Period-end (shares) | Proportion (%) | | :--- | :--- | :--- | | Dashang Group Co., Ltd. | 46,266,093 | 15.75% | | Anbang Life Insurance...-Conservative Investment Portfolio | 32,367,690 | 11.02% | | Dalian Guoshang Asset Management Co., Ltd. | 25,013,382 | 8.52% | | Shenzhen Maoye Commercial Building Co., Ltd. | 14,685,923 | 5.00% | | Anbang Pension Insurance...-Group Universal Insurance Product | 9,575,284 | 3.26% | - **Anbang Life** and **Anbang Pension** are parties acting in concert, with a combined shareholding of **14.28%**[138](index=138&type=chunk) - The company's controlling shareholder is **Dashang Group Co., Ltd.**, and the actual controller is **Dashang Investment Management Co., Ltd.**[139](index=139&type=chunk)[141](index=141&type=chunk)[143](index=143&type=chunk) [Section VIII Directors, Supervisors, Senior Management, and Employees](index=61&type=section&id=Section%20VIII%20Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Employees) This section provides information on the company's board of directors, supervisors, senior management, and overall employee structure and remuneration [I. Shareholding Changes and Remuneration](index=61&type=section&id=I.Shareholding%20Changes%20and%20Remuneration) During the reporting period, the shareholdings of the company's directors, supervisors, and senior management remained unchanged, with Chairman Niu Gang holding **26,371 shares**, and total pre-tax remuneration for all amounting to **29.5788 million Yuan** - Total remuneration received by all directors, supervisors, and senior management at the end of the reporting period was **29.5788 million Yuan**[157](index=157&type=chunk) [VI. Employee Information of Parent Company and Major Subsidiaries](index=67&type=section&id=VI.Employee%20Information%20of%20Parent%20Company%20and%20Major%20Subsidiaries) As of the end of the reporting period, the company and its major subsidiaries had a total of **20,185** employees, with a higher proportion of sales and administrative staff, implementing a performance-linked remuneration policy and multi-level training system Employee Categories | Employee Category | Number of People | | :--- | :--- | | Total Number of Employees | 20,185 | | - Sales Personnel | 5,296 | | - Administrative Personnel | 10,108 | [Section IX Corporate Governance](index=68&type=section&id=Section%20IX%20Corporate%20Governance) This section describes the company's corporate governance framework, its compliance with regulations, and the operational status of its governance bodies [I. Overview of Corporate Governance](index=68&type=section&id=I.Overview%20of%20Corporate%20Governance) The company has established a sound governance structure in accordance with relevant laws and regulations, with clear responsibilities among power, decision-making, supervisory, and management bodies, operating in a standardized manner - The company's corporate governance structure is sound, complying with laws like the **Company Law** and **Securities Law**, with clear responsibilities and standardized operations across all bodies[165](index=165&type=chunk) - During the reporting period, the company held **3** shareholder meetings and **8** board meetings[170](index=170&type=chunk) [Section XI Financial Report](index=71&type=section&id=Section%20XI%20Financial%20Report) This section presents the company's audited financial statements, including the audit report, key financial summaries, and detailed notes to the consolidated financial statements [I. Audit Report](index=71&type=section&id=I.Audit%20Report) Dahua Certified Public Accountants (Special General Partnership) audited the company's 2016 financial statements and issued a standard unqualified audit opinion, confirming fair presentation in accordance with enterprise accounting standards - The audit firm is **Dahua Certified Public Accountants (Special General Partnership)**[177](index=177&type=chunk) - The audit opinion is **standard unqualified**[178](index=178&type=chunk) [II. Financial Statements Summary](index=72&type=section&id=II.Financial%20Statements%20Summary) As of year-end 2016, total assets were **17.936 billion Yuan**, total liabilities **10.857 billion Yuan**, with a debt-to-asset ratio of **60.53%**; full-year operating revenue was **28.088 billion Yuan**, net profit **653 million Yuan**, and net cash flow from operating activities **2.014 billion Yuan** Key Items from Consolidated Balance Sheet | Key Items from Consolidated Balance Sheet (Yuan) | 2016-12-31 | 2015-12-31 | | :--- | :--- | :--- | | Total Assets | 17,935,840,197.12 | 16,567,859,135.29 | | Total Liabilities | 10,856,966,422.27 | 9,929,832,807.22 | | Total Equity Attributable to Parent Company Owners | 6,942,475,626.58 | 6,389,751,599.61 | Key Items from Consolidated Income Statement | Key Items from Consolidated Income Statement (Yuan) | 2016 | 2015 | | :--- | :--- | :--- | | Total Operating Revenue | 28,087,519,979.94 | 30,832,061,062.35 | | Operating Profit | 1,089,648,259.89 | 981,629,086.93 | | Total Profit | 1,086,763,489.26 | 1,015,080,411.33 | | Net Profit | 653,327,577.64 | 617,616,524.22 | | Net Profit Attributable to Parent Company Owners | 702,992,437.79 | 662,111,706.50 | Key Items from Consolidated Cash Flow Statement | Key Items from Consolidated Cash Flow Statement (Yuan) | 2016 | 2015 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 2,014,348,723.94 | 1,299,740,768.36 | | Net Cash Flow from Investing Activities | -2,119,424,481.96 | -1,314,559,636.93 | | Net Cash Flow from Financing Activities | -324,795,679.23 | -561,526,554.78 | [VII. Notes to Consolidated Financial Statement Items](index=119&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section details consolidated financial statement items, highlighting **88.55 million Yuan** in goodwill impairment for Jilin, Weihai, and Zibo stores, **1.24 billion Yuan** in rental expenses within administrative costs, a significant increase in financial expenses due to reduced wealth management income, and a **771.28%** rise in non-operating expenses from store closure compensation - Goodwill impairment provision of **88,545,872.87 Yuan** was recognized this period, primarily for **Jilin Department Store**, **Weihai Department Store**, and **Zibo Runze**[398](index=398&type=chunk)[462](index=462&type=chunk) - Within administrative expenses, rental fees were the largest expenditure, reaching **1.241 billion Yuan**[457](index=457&type=chunk)[458](index=458&type=chunk) - Non-operating expenses increased by **771.28%** year-on-year, primarily due to increased store closure compensation expenses during this reporting period[469](index=469&type=chunk) [Section XII Reference Documents](index=204&type=section&id=Section%20XII%20Reference%20Documents) This section lists all documents available for investor review, ensuring transparency and accessibility of key corporate information [Reference Documents](index=204&type=section&id=Reference%20Documents) This section lists reference documents available for investor review, including financial statements signed by the legal representative and CFO, original audit reports, and originals of all publicly disclosed documents and announcements during the reporting period

[Important Notice](index=3&type=section&id=I.%20Important%20Notice) The company's management guarantees the truthfulness, accuracy, and completeness of this quarterly report, which remains unaudited [Statement on Report Authenticity and Audit Status](index=3&type=section&id=1.1-1.4) The company's management assures the truthfulness, accuracy, and completeness of this quarterly report, explicitly stating it is unaudited - The Board of Directors, Supervisory Board, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report and assume corresponding legal liabilities[5](index=5&type=chunk) - This company's Q3 2016 report is unaudited[5](index=5&type=chunk) [Key Financial Data and Shareholder Changes](index=3&type=section&id=II.%20Key%20Financial%20Data%20and%20Shareholder%20Changes) As of Q3 2016, total assets increased by 7.00%, while operating revenue decreased by 8.69%, but net profit attributable to shareholders saw a slight increase of 1.94% [Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) As of Q3 2016, total assets increased by 7.00%, operating revenue decreased by 8.69%, and net profit attributable to shareholders increased by 1.94%, with net cash flow from operating activities significantly up by 35.12% 2016 Q1-Q3 Key Financial Data | Indicator | End of Current Period / Year-to-Date | End of Prior Year / Prior Year Same Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Assets (CNY) | 17,728,022,123.26 | 16,567,859,135.29 | 7.00% | | Net Assets Attributable to Shareholders (CNY) | 6,899,926,429.36 | 6,389,751,599.61 | 7.98% | | Net Cash Flow from Operating Activities (CNY) | 1,780,663,876.34 | 1,317,836,966.87 | 35.12% | | Operating Revenue (CNY) | 21,613,691,027.97 | 23,671,171,980.32 | -8.69% | | Net Profit Attributable to Shareholders (CNY) | 648,071,903.72 | 635,715,537.31 | 1.94% | | Basic Earnings Per Share (CNY/share) | 2.21 | 2.16 | 2.31% | - From the beginning of the year to the end of the reporting period (Jan-Sep), the company's non-recurring gains and losses totaled **26.70 million CNY**, primarily from debt restructuring gains and government subsidies[8](index=8&type=chunk) [Shareholder Information](index=4&type=section&id=2.2%20Total%20Shareholders%2C%20Top%20Ten%20Shareholders%2C%20and%20Top%20Ten%20Circulating%20Shareholders%20as%20of%20the%20End%20of%20the%20Reporting%20Period) As of the end of the reporting period, the company had 25,140 shareholders, with Dashang Group Co., Ltd. as the largest shareholder at 15.75% - As of the end of the reporting period, the company had **25,140 shareholders**[9](index=9&type=chunk) Top Five Shareholders' Shareholding Status | Shareholder Name | Shares Held at Period End | Proportion (%) | | :--- | :--- | :--- | | Dashang Group Co., Ltd. | 46,266,093 | 15.75% | | Anbang Life Insurance Co., Ltd. - Conservative Investment Portfolio | 32,367,690 | 11.02% | | Dalian Guoshang Asset Management Co., Ltd. | 25,013,382 | 8.52% | | Shenzhen Maoye Commercial Building Co., Ltd. | 14,685,923 | 5.00% | | Anbang Pension Insurance Co., Ltd. - Group Universal Product | 9,575,284 | 3.26% | - Anbang Life Insurance Co., Ltd. and Anbang Pension Insurance Co., Ltd. constitute parties acting in concert due to their affiliated relationship[11](index=11&type=chunk) [Significant Matters](index=6&type=section&id=III.%20Significant%20Matters) The report details significant changes in financial items, with no major new developments, unfulfilled commitments, or profit warnings [Analysis of Significant Changes in Key Financial Statement Items and Indicators](index=6&type=section&id=3.1%20Analysis%20of%20Significant%20Changes%20in%20the%20Company%27s%20Key%20Financial%20Statement%20Items%20and%20Financial%20Indicators%20and%20Reasons) Several financial items showed significant changes during the reporting period, including increases in net cash flow from operating activities and improvements in financing cash flow - Net cash flow from operating activities increased year-on-year, primarily due to a decrease in cash paid for goods purchased and services received during the period[11](index=11&type=chunk) - Cash outflow from investing activities decreased year-on-year, mainly due to reduced cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets, as well as a decrease in net cash paid for the acquisition of subsidiaries[11](index=11&type=chunk)[12](index=12&type=chunk) - Net cash flow from financing activities improved year-on-year, primarily due to a decrease in cash paid for dividend distribution, profit distribution, or interest payments during the period[12](index=12&type=chunk) [Other Significant Matters, Fulfillment of Commitments, and Performance Forecast](index=7&type=section&id=3.2-3.4) The company reported no significant matter progress, no unfulfilled commitments requiring disclosure, and no cumulative net profit warnings for the next reporting period - The company has no analysis or explanation of the progress, impact, and solutions for significant matters[12](index=12&type=chunk) - The company and shareholders holding 5% or more of its shares have no commitments requiring disclosure of their fulfillment status[12](index=12&type=chunk) - The company has not issued any significant change warnings regarding cumulative net profit from the beginning of the year to the end of the next reporting period[12](index=12&type=chunk) [Appendix](index=7&type=section&id=IV.%20Appendix) This section provides the company's unaudited financial statements for the third quarter of 2016 [Financial Statements](index=7&type=section&id=4.1%20Financial%20Statements) This appendix includes the company's unaudited consolidated and parent company balance sheets, income statements, and cash flow statements for Q3 2016 [Consolidated Balance Sheet](index=7&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2016, consolidated total assets were **17.73 billion CNY**, an increase of 7.00% from the beginning of the year, with total liabilities at **10.66 billion CNY** and shareholders' equity at **6.90 billion CNY**, up 7.98% from year-beginning Consolidated Balance Sheet Key Items (Unit: CNY) | Item | Period-End Balance | Year-Beginning Balance | | :--- | :--- | :--- | | Total Assets | 17,728,022,123.26 | 16,567,859,135.29 | | Total Liabilities | 10,657,170,104.58 | 9,929,832,807.22 | | Total Equity Attributable to Parent Company Shareholders | 6,899,926,429.36 | 6,389,751,599.61 | | Total Liabilities and Equity | 17,728,022,123.26 | 16,567,859,135.29 | [Parent Company Balance Sheet](index=10&type=section&id=Parent%20Company%20Balance%20Sheet) As of September 30, 2016, parent company total assets were **9.24 billion CNY**, up 14.58% from the beginning of the year, with total liabilities at **3.60 billion CNY** and owner's equity at **5.64 billion CNY**, up 18.79% from year-beginning Parent Company Balance Sheet Key Items (Unit: CNY) | Item | Period-End Balance | Year-Beginning Balance | | :--- | :--- | :--- | | Total Assets | 9,242,983,008.03 | 8,066,794,336.29 | | Total Liabilities | 3,599,222,747.01 | 3,315,775,208.48 | | Total Owner's Equity | 5,643,760,261.02 | 4,751,019,127.81 | [Consolidated Income Statement](index=12&type=section&id=Consolidated%20Income%20Statement) For Jan-Sep 2016, consolidated operating revenue was **21.61 billion CNY**, a decrease of 8.69% year-on-year, while operating profit increased by 2.51% to **930.88 million CNY**, and net profit attributable to parent company shareholders was **648.07 million CNY**, up 1.94% Consolidated Income Statement Key Items (Jan-Sep 2016, Unit: CNY) | Item | Current Period Amount | Prior Year Same Period Amount | | :--- | :--- | :--- | | Total Operating Revenue | 21,613,691,027.97 | 23,671,171,980.32 | | Operating Profit | 930,882,197.95 | 908,096,921.72 | | Total Profit | 970,341,239.73 | 937,740,398.35 | | Net Profit Attributable to Parent Company Shareholders | 648,071,903.72 | 635,715,537.31 | [Parent Company Income Statement](index=17&type=section&id=Parent%20Company%20Income%20Statement) For Jan-Sep 2016, parent company operating revenue was **3.83 billion CNY**, down 11.25% year-on-year, but net profit significantly increased by 13.28% to **1.03 billion CNY** due to substantial investment income Parent Company Income Statement Key Items (Jan-Sep 2016, Unit: CNY) | Item | Current Period Amount | Prior Year Same Period Amount | | :--- | :--- | :--- | | Operating Revenue | 3,831,340,778.05 | 4,317,222,331.21 | | Investment Income | 894,959,651.12 | 944,089,458.52 | | Operating Profit | 1,072,918,106.61 | 891,888,585.57 | | Net Profit | 1,027,851,713.59 | 907,366,060.36 | [Consolidated Cash Flow Statement](index=19&type=section&id=Consolidated%20Cash%20Flow%20Statement) For Jan-Sep 2016, net cash flow from operating activities was **1.78 billion CNY**, a 35.12% increase year-on-year, with net cash outflow from investing activities of **228.29 million CNY** and financing activities of **398.60 million CNY** Consolidated Cash Flow Statement Summary (Jan-Sep 2016, Unit: CNY) | Item | Current Period Amount | Prior Year Same Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1,780,663,876.34 | 1,317,836,966.87 | | Net Cash Flow from Investing Activities | -228,286,681.56 | -776,797,549.03 | | Net Cash Flow from Financing Activities | -398,598,194.78 | -672,111,606.52 | | Net Increase in Cash and Cash Equivalents | 1,157,602,844.68 | -133,466,344.05 | [Parent Company Cash Flow Statement](index=21&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) For Jan-Sep 2016, parent company net cash flow from operating activities was **359.76 million CNY**, with net cash inflow from investing activities of **959.75 million CNY** and net cash outflow from financing activities of **425.46 million CNY** Parent Company Cash Flow Statement Summary (Jan-Sep 2016, Unit: CNY) | Item | Current Period Amount | Prior Year Same Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 359,761,674.17 | 36,570,655.53 | | Net Cash Flow from Investing Activities | 959,746,557.89 | 679,399,773.87 | | Net Cash Flow from Financing Activities | -425,458,895.18 | -472,459,587.56 | | Net Increase in Cash and Cash Equivalents | 894,049,336.88 | 243,510,841.84 | [Audit Report](index=22&type=section&id=4.2%20Audit%20Report) This quarterly financial report is unaudited - The audit report section is marked as "Not Applicable," confirming that this quarterly report is unaudited[39](index=39&type=chunk)