证券代码：600729 证券简称：重庆百货 公告编号：临 2025-045 重庆百货大楼股份有限公司 关于公司股东权益变动的提示性公告 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： 本次股东权益变动属于股东关联方之间内部资产重组，不触及对重庆百 货大楼股份有限公司（以下简称"公司"或"重庆百货"）的要约收购。 本次权益变动后，公司控股股东、实际控制人未发生变更，公司仍为无 控股股东、无实际控制人企业。 本次股东权益变动交易尚未签订协议，最终能否实施并完成交易交割尚 存在不确定性。所涉及的后续事宜，公司将按照相关事项的进展情况及时履行信 息披露义务，敬请广大投资者注意投资风险。 一、本次权益变动基本情况 （一）前期股东权益变动方案 2024 年 11 月 13 日，公司接到股东重庆渝富资本运营集团有限公司（以下 简称"渝富资本"）《关于权益变动的告知函》。为落实重庆市委六届四次五次六 次全会精神及市委、市政府关于突出主责主业强化核心功能整合优化改革攻坚的 工作部署，渝富资本拟将持有公司 25.32%股权变更至渝 ...

Group 1 - The core point of the article is the announcement of a significant equity change involving Chongqing Department Store Co., Ltd., where the shareholder Chongqing Yufu Capital Operation Group Co., Ltd. plans to transfer its 25.32% stake to Chongqing Yufu Holding Group Co., Ltd. [2][3] - The equity change is part of the efforts to optimize and reform the core functions as per the directives from the Chongqing municipal government [2] - After the completion of the equity transfer, Chongqing Yufu Holding will directly hold 26.35% of the company's shares [2][4] Group 2 - As of January 17, 2025, Chongqing Yufu Holding signed an absorption merger agreement with Chongqing Yufu Huamao, which holds 1.03% of the company's shares [3] - By October 22, 2025, Chongqing Yufu Huamao completed its deregistration, although the transfer of shares to Chongqing Yufu Holding has not yet been finalized [3][4] - The equity change does not alter the company's controlling shareholder or actual controller status, as it remains a company without a controlling shareholder or actual controller [4]

Core Insights - The sixth "Hundred-Year Chongbai Shopping Festival" has commenced in Chongqing, celebrating the 105th anniversary of Chongbai and the 30th anniversary of New Century [1] Group 1: Event Overview - The shopping festival focuses on "omni-channel linkage + regional characteristic activities," integrating four major sectors: department stores, supermarkets, electronics, and automobiles, offering consumers subsidies worth billions [2] - The event combines online flash sales with offline experiences through proprietary platforms like Multi-Point APP and Chongbai Cloud Purchase, driving a dual approach [2] Group 2: Marketing and Experience Strategy - Chongbai utilizes a "full-site pass" member profiling system for precise rights promotion and integrates offline traffic sources with online platforms like Douyin and Meituan to create a comprehensive marketing network [2] - The New Century Department Store has developed a new fashion landmark that merges national trends with immersive experiences, revitalizing the shopping environment [2] Group 3: Business Performance and Future Outlook - The influence of Chongbai's shopping festivals and year-round special consumption activities is increasing, effectively stimulating local demand and enhancing consumer rights, producer benefits, and Chongbai's performance [4] - As of mid-2025, Chongbai reported a record high of 7.65 billion yuan in equity attributable to shareholders, with a sales gross margin of 28.43% for the first half of the year, marking the best historical performance for that period [4] - Chongbai aims to use this shopping festival as a new starting point to continue its role as a cultural inheritor, consumption upgrade leader, and creator of a better life [4]

证券代码：600729 证券简称：重庆百货 公告编号：临 2025-044 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。 一、本次权益变动基本情况 2024 年 11 月 13 日，重庆百货大楼股份有限公司（以下简称"公司"或"重 庆百货"）接到股东重庆渝富资本运营集团有限公司（以下简称"渝富资本"）《关 于权益变动的告知函》。为落实重庆市委六届四次五次六次全会精神及市委、市 政府关于突出主责主业强化核心功能整合优化改革攻坚的工作部署，渝富资本拟 将持有公司 25.32%股权变更至重庆渝富控股集团有限公司（以下简称"渝富控 股"）名下；渝富资本将其所持重庆渝富华贸国有资产经营有限公司（以下简称 "渝富华贸"）100%股权变更至渝富控股（以下简称"本次股东权益变动"）。 后续渝富华贸拟将持有公司 1.03%股权变更至渝富控股，上述变更完成后， 渝富控股最终将直接持有公司 26.35%股权。 具体内容详见公司于 2024 年 11 月 14 日披露的《重庆百货大楼股份有限公 司关于公司股东权益变动的提示性公告》（公告编号：临 2 ...

Core Points - Chongqing Department Store announced that on November 13, 2024, shareholder Yufu Capital plans to transfer its 25.32% stake in the company to Yufu Holdings [1] - Subsequently, Yufu Huamao intends to transfer an additional 1.03% stake to Yufu Holdings, resulting in Yufu Holdings directly holding 26.35% of the company [1] - On January 17, 2025, Yufu Holdings and Yufu Huamao signed a merger agreement, and on October 22, Yufu Huamao completed its deregistration, although the share transfer has not yet been finalized [1] - Following this equity change, the company will still have no controlling shareholder or actual controller, with Yufu Holdings holding 26.35% directly and indirectly [1]

Core Insights - The sixth "Centennial Chongbai Shopping Festival" was launched on October 22, celebrating Chongqing Department Store's 105th anniversary and New Century's 30th anniversary [1] Group 1: Event Overview - The event was attended by leaders from the Chongqing Municipal Commerce Commission and the Yuzhong District government, along with various stakeholders including brand suppliers and consumers [1] - The shopping festival aims to address challenges posed by the extended "Double Eleven" shopping period and diversified consumer demands through a strategy of "omni-channel linkage + regional特色活动" [2] Group 2: Marketing Strategies - Chongqing Department Store is implementing a dual-driven approach of "online flash sales + offline experiences" by leveraging its own platforms such as Multi-Point APP and Chongbai Cloud Purchase [2] - The festival includes initiatives like distributing consumption vouchers worth millions, launching co-branded commemorative products, and offering "0 yuan purchase" promotions [2] - The company is enhancing customer engagement through interactive experiences like the "Happiness Blind Box" pop-up exhibition and optimizing supply chain efficiency via a digital inventory system [2] Group 3: Company Vision and Leadership - The Chairman of Chongqing Department Store, Zhang Wenzhong, emphasized the company's commitment to market reform and innovation, aiming to strengthen its competitive edge in the retail sector [3] - The company is focused on adapting to market changes and consumer trends while maintaining a customer-centric approach and enhancing product offerings and services [3]

Core Viewpoint - Chongqing Department Store (600729.SH) has indicated that the national subsidy policy has been temporarily suspended, prompting the company to focus on enhancing user value and building core capabilities independent of this policy [1] Group 1: Business Strategy - The company aims to capture market share through its direct sales segment by enhancing online and offline traffic operations and expanding its direct store layout, targeting to exceed 50% market share in key account channels [1] - The company plans to implement a three-tier store model consisting of regional flagship stores, benchmark stores, and town stores to maintain rapid channel growth and capture market share in lower-tier cities, with a goal of opening 80 new stores throughout the year [1] - By leveraging strategic partnerships, the company intends to acquire regional brand authorizations to expand high-end home appliance specialty stores and 3C product stores, tapping into new channels for growth and exploring private traffic potential [1] - The company will focus on core strategic brands and deepen joint business plans, targeting flagship stores in key regions and emphasizing categories like air conditioning and washing machines to support the development of a comprehensive ecosystem of stores [1] Group 2: Sales Goals - By the second half of 2025, the company plans to organize six large promotional events in the electrical appliance sector, aiming for sales of 600 million yuan [1] - The company also plans to complete the renovation of six store scenarios, targeting an additional sales increase of 60 million yuan [1]

Core Viewpoint - The company is positioned as a retail leader in the western region, continuously enhancing store adjustments to improve market competitiveness [1][2]. Group 1: Store Adjustments and Market Strategy - By June 30, 2025, the company plans to open 275 various types of malls and stores, with operational outlets established in 35 districts and counties in Chongqing and other areas [1]. - The department store format adopts a "one store, one policy" approach driven by regional consumer demand, implementing a "1+6+N" adjustment strategy [1]. - In the first half of 2025, the company added 116,900 square meters of non-purchase area and introduced 38 new brands [1]. - The company completed adjustments in 27 stores in the first half of 2025, resulting in an increase of 528,000 customer visits, a growth of 15% [1]. Group 2: Management Team and Operational Efficiency - The management team has extensive industry backgrounds, including experience from major retail and technology firms, which is expected to enhance operational efficiency [2]. - The chairman is the founder of Wumart Group and Dmall, while the vice chairman has a background in consumer finance, indicating a strong leadership team [2]. Group 3: Financial Performance and Investment Outlook - The company holds a 31.06% stake in a consumer finance firm, which has shown stable growth over the past five years, contributing positively to the company's investment returns [2]. - The projected net profit for the company from 2025 to 2027 is estimated at 1.48 billion, 1.65 billion, and 1.86 billion yuan, corresponding to PE ratios of 8, 7, and 6 times [2]. - A target price of 45.00 yuan is set based on a 12 times PE for 2026, with an initial "buy" rating recommended [2].

Summary of Chongqing Department Store Conference Call Industry Overview - The conference call discusses the performance and strategies of Chongqing Department Store, focusing on various retail segments including department stores, supermarkets, electronics, automotive trade, and innovative business models. Key Points and Arguments Department Store Segment - The department store segment showed marginal improvement in Q3, with revenue and customer traffic increasing significantly. For instance, the Balanhui store experienced a sales growth of approximately 70% and a doubling of customer traffic. The Daping Commercial City saw sales growth close to 50% and a 30% increase in customer traffic [2][4][6]. Supermarket Segment - The supermarket segment remained stable, with adjustments made to 30 stores leading to nearly 20% sales growth and a net gross margin increase of about 22%. Quality store types performed best, achieving sales and net margin growth of 20% to 25% [2][4][6]. Electronics Segment - The electronics segment faced challenges due to the impact of national subsidy policies, particularly in Q4. The company is responding by collaborating with leading brands, enhancing after-sales services, penetrating lower-tier markets (with plans to open 400 stores under the "Four Seasons" initiative, targeting sales of 700-800 million RMB), and strategic cooperation with real estate agencies [2][10]. Automotive Trade Segment - The automotive trade segment has turned profitable, with improvements in profitability for leading fuel vehicle brands and strong sales in the new energy vehicle sector. The after-sales market has seen rapid growth, with sales in maintenance, insurance, and other services increasing by nearly 30% from January to September [2][11]. Innovative Business Initiatives - The company is advancing its "store plus warehouse" model, planning to open 20-25 warehouses next year, each expected to contribute 1.8 to 2 million RMB in annual revenue with a net margin of 5-6%. Additionally, the company aims to launch approximately 130 SKUs in its three R food series, targeting one million RMB in sales per SKU [2][8][9]. Financial Performance and Future Outlook - For 2025, the company anticipates stable overall operations with a small single-digit growth despite some non-financial negative impacts. The company plans to invest approximately 300 million RMB in department store renovations over the next three years, aiming for at least a 10% increase in sales and profits within a year post-renovation [3][13]. Strategic Adjustments - The company is focusing on expanding its convenience store business, planning to stabilize expansion to 20-40 stores this year through a franchise model, leveraging brand and supply chain advantages for differentiated competition [3][16][17]. Investment and Returns - The investment returns from the affiliated company, Maxiao, are expected to remain stable at around 700-710 million RMB for the year, despite strict industry regulations. Maxiao maintains a leading position in the market due to its channel and technological innovations [3][18]. Overall Business Strategy - Chongqing Department Store's overall strategy emphasizes stability while adapting to industry and consumer trends through innovation. The company is committed to shareholder returns and actively adjusting its business segments to maintain a steady growth trajectory [3][19].

重庆百货大楼股份有限公司股东会议事规则 （2001 年 6 月 11 日，2000 年度股东大会审议通过；2012 年 3 月 28 日，2012 年度第一 次临时股东大会修订；2014 年 9 月 9 日，2014 年度第一次临时股东大会修订；2022 年 12 月 15 日，2022 年第四次临时股东大会修订；2025 年 9 月 30 日，2025 年第一次临时股东会 修订） 第一章 总 则 （一）会议的召集、召开程序是否符合法律、行政法规、本规则和公司章程 的规定； （二）出席会议人员的资格、召集人资格是否合法有效； 第一条 为规范重庆百货大楼股份有限公司（简称公司或本公司）行为，保 证股东会依法行使职权，根据《中华人民共和国公司法》（以下简称《公司法》）、 《中华人民共和国证券法》（以下简称《证券法》）、《上市公司股东会规则》《公 司章程》的规定，制定本规则。 第二条 公司股东会的召集、提案、通知、召开等事项适用本规则。 第三条 公司应当严格按照法律、行政法规、《上市公司股东会规则》及公司 章程的相关规定召开股东会，保证股东能够依法行使权利。 公司董事会应当切实履行职责，认真、按时组织股东会。公司全 ...