证券代码:600785 证券简称:新华百货 编号:2025-038 银川新华百货商业集团股份有限公司 第九届董事会第二十二次会议决议公告 特别提示 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个别及连带责任。 一、董事会会议召开情况 银川新华百货商业集团股份有限公司第九届董事会第二十二次会议通知于2025年 8月29日以书面形式发出，会议于2025年9月10日上午10点在公司集团总部六楼会 议室召开，本次会议以现场结合通讯方式召开并表决（其中现场表决7人，通讯 表决2人）。会议应到董事9人，实到9人。会议由董事长曲奎先生召集并主持， 会议的召开符合《公司法》、《公司章程》的有关规定。 二、董事会会议审议情况 （一）审议通过了关于董事会换届选举的议案； （2）提名马卫红女士为公司第十届董事会非独立董事候选人； （3）提名梅亚莉女士为公司第十届董事会非独立董事候选人； （4）提名郭涂伟先生为公司第十届董事会非独立董事候选人； （5）提名于滨先生为公司第十届董事会非独立董事候选人。 2、第十届董事会独立董事候选人如下： （1）提名米文莉女士 ...

中证报中证网讯(王珞)近日，新华百货（600785）正式启动"实体商业转型升级专项行动"，以"新质零 售"为核心抓手，全面探索经营增长新路径。 新华百货表示，此次行动将围绕三大核心举措展开：聚焦门店业态与品项优化，结合区域消费需求调整 商品结构，强化核心品类竞争力，让门店"货更对味"；升级门店空间与服务场景，优化动线设计、完善 便民设施，打造更舒适、更便捷的到店体验，让顾客"逛得舒心"；提升门店运营与服务标准，通过员工 技能培训、流程标准化梳理，强化导购服务、售后响应能力，让服务"更有温度"。 新华百货表示，后续公司将以此为契机，以提升运营效率、统一品牌形象与用户体验三大核心为目标， 以"用心服务顾客"为核心导向，对宁夏区域内现有部分门店逐步推进分批调改计划，同步提升门店运营 标准与服务品质，力求推动整体区域经营能力实现跨越式增长。 近年来，新华百货作为宁夏地区的民生企业，为积极应对日益激烈的区域竞争、为消费者提供更高品 质、更高性价比的商品与服务，主动拥抱变革，企业着力打造新质零售样板、优化供应链全链路效能、 创新多元化消费场景。 新华百货表示，"实体商业转型升级专项行动"的开展，旨在加速转型升级、实现高质 ...

Core Viewpoint - The company has made significant progress in retail operations, digital transformation, and regional economic empowerment over the past five years, contributing to the recovery of the consumer market [1] Group 1: Strategic Positioning - The company has established a strategic positioning of "rooting in Ningxia and radiating to the Northwest" since being controlled by Wumart Group in 2006, becoming an important platform for Wumart's development in the Northwest market [2] - The company has developed a business network that covers the entire region, extending its operations from Ningxia to Inner Mongolia, Shaanxi, Gansu, and Qinghai, with a focus on regional market competitiveness [2] - The company operates 12 department stores/shopping centers, 247 chain supermarkets, and 84 electrical and communication chain stores, with a total building area exceeding 1.3 million square meters, making it one of the leading retail enterprises in the Northwest region [2] Group 2: Differentiated Operations - The company focuses on core advantages of various business formats to break through the homogenization of retail competition, forming unique competitive strengths in supermarkets, department stores, electrical appliances, and logistics [3] - The supermarket format emphasizes providing fresh, safe, and reliable food, optimizing the supply chain to ensure the freshness and safety of daily consumer goods [4] - The department store format innovates by integrating shopping center elements and creating new consumption scenarios, promoting a one-stop experience for shopping, leisure, and socializing [3] Group 3: Logistics and Supply Chain - The company has established an integrated supply chain service system with a modern logistics base and a delivery radius of 800 kilometers, supporting its various business formats [5][6] - The logistics system is evolving from enterprise logistics to logistics services for society, becoming an important support for regional supply chains [6] Group 4: Digital Transformation - The company has positioned digital transformation as a core strategy, utilizing digital platforms to reconstruct operational systems and enhance consumer experiences [7] - The "Duodian" digital platform has accumulated nearly 8 million members, becoming a key link between the company and consumers, and facilitating precise operations [7] - The company leverages member data to optimize service strategies and enhance member engagement and conversion rates through integrated online and offline operations [7][8] Group 5: Regional Development and Social Responsibility - The company actively promotes local specialty products and collaborates with nearly 10,000 small and micro enterprises to enhance regional economic vitality [9] - The company has contributed to regional tax revenue and employment while achieving steady growth in operating performance, with an average annual sales of nearly 8 billion yuan and cumulative dividends exceeding 124 million yuan during the 14th Five-Year Plan period [10] Group 6: Future Outlook - The company plans to continue focusing on the retail sector, balancing market expansion with efficiency improvement, and accelerating digital development to enhance integrated operations [11] - The company aims to build an economic circle centered around Yinchuan, further radiating to surrounding provinces with a consumer population of millions, striving to become a competitive retail enterprise in the Northwest market [11]

Group 1 - The company is conducting market research regarding the discount store model to explore development paths that align with its supply chain advantages and user needs [1] - Currently, there are no specific plans for opening new stores [1]

Core Points - The meeting of Yinchuan Xinhua Department Store Group Co., Ltd. is scheduled for September 10, 2025, with both on-site and online voting options available [1] - The agenda includes the announcement of the meeting, verification of shareholder qualifications, voting procedures, election of scrutineers, and the review of several proposals [1] - The company proposes a cash dividend distribution of 1.00 yuan per 10 shares, totaling 22,563,128.00 yuan, based on a net profit of 86,008,122.91 yuan for the first half of 2025 [1] - A proposal for new related party transactions is expected to amount to approximately 1 billion yuan for the year 2025 [4] - The company plans to revise its fundraising management system in accordance with updated regulatory guidelines [5][6]

银川新华百货商业集团股份有限公司 2025 年第四次临时股东会会议资料 银川新华百货商业集团股份有限公司 2025 年第四次临时股东会资料 2025 年 9 月 1 / 7 银川新华百货商业集团股份有限公司 2025 年第四次临时股东会会议资料 银川新华百货商业集团股份有限公司 2025 年第四次临时股东会议程 会议时间： 现场会议时间：2025 年 9 月 10 日上午 9：30 网络投票时间：2025 年 9 月 10 日上午 9：15-9：25，9:30-11:30， 2 / 7 下午 13：00-15：00 会议地点：银川市解放东街 211 号新百集团大楼六层会议室 会议方式：现场投票与网络投票相结合的方式 会议主持人：董事长曲奎先生 会议议程： 一、宣布会议开幕 二、由宁夏方和圆律师事务所律师对出席本次股东会的股东及股东代理人资格进 行审核与见证（包括到会股东人数及代表股数） 三、宣读会议表决方法及须知 为维护投资者合法权益，确保公司股东会顺利召开，根据《公司法》、《上市公司 股东会规则》及《公司章程》的有关规定，特制定如下会议须知，望出席股东会的全 体人员遵照执行。 1、本次会议采取现场投票与网络 ...

Group 1 - The new Wuzhong Wanda store of Xinhua Department Store is set to officially open on September 19 in Wuzhong City, Ningxia Hui Autonomous Region [1] - The store has undergone a comprehensive upgrade in product structure, quality, pricing, employee benefits, and store environment, and will introduce products from the brand "Pang Dong Lai" for the first time [1] - A core team of 58 employees from Xinhua Department Store has been sent to the headquarters of Wumei in Beijing for a month-long professional training under the Pang Dong Lai system, focusing on various aspects including salary structure, promotion evaluation mechanisms, and store layout [1] Group 2 - The store will feature a dedicated area for Pang Dong Lai's self-owned brand products, with over 70 similar items and an 80% overlap in product structure [1] - The store has enhanced the shopping environment by reducing display area by 20% to create a 4-meter main aisle, lowering shelves, and widening pathways for a better shopping experience [1] - The store will offer 12 free services, including customer rest areas, free tea, emergency medicine, and pet storage, along with over 30 convenient services such as health monitoring equipment for blood pressure and weight [1]

Group 1 - Traditional retail giants are facing significant performance challenges, with major players like Baisheng Group reporting an 18.4% drop in same-store sales and announcing the closure of its Beijing store by year-end [3][4] - Other retailers such as Xinhua Department Store and Tianhong reported revenue declines of 0.99% and 1.79% respectively, while Nanning Department Store experienced a net loss of 13.38 million yuan, a 653.3% increase in loss [3][4] Group 2 - The outlet mall sector is experiencing a growth spurt, with multiple new projects announced, including the opening of Wuhan Shanshan Outlet on September 25, which will be the first "Lakeside Outlet" in Central China [5][6] - The emergence of differentiated concepts like "Lakeside Outlet" and "Warehouse-style Outlet" indicates that this sector is effectively targeting various consumer needs amid a backdrop of consumption downgrade [6] Group 3 - A wave of renaming among shopping centers reflects strategic shifts and the need for brand upgrades, with examples including the rebranding of "Changsha Beichen Triangular Deyue City" to "Changsha Beichen Hui" [7][8] - The rebranding of "Shenyang Vanke Plaza" to "Wan Qian Hui" resulted in a 15% increase in foot traffic and a 26% rise in sales, demonstrating the effectiveness of targeted brand revitalization [8] Group 4 - China is becoming a testing ground for global brand innovations, with notable first stores like LV Beauty opening in Nanjing and Haidilao launching an innovative concept store in Beijing [10][11] - This trend indicates a shift in China's market position from a follower to a leader in global brand innovation, as brands increasingly prioritize launching new products in China [11] Group 5 - There is a dual acceleration in the internationalization of brands in China and the globalization of local brands, with companies like Anta and Li Ning deepening market penetration through themed stores [12][13] - The significant growth of brands like Pop Mart, which reported a 204.4% increase in revenue, highlights China's market as a critical battleground for both international and domestic brands [13]

Core Insights - Xinhua Department Store (600785) reported a slight decline in total revenue and net profit for the first half of 2025, with total revenue at 3.254 billion yuan, down 0.99% year-on-year, and net profit at 86.0081 million yuan, down 2.52% year-on-year [1][2] Financial Performance - Total revenue for Q2 2025 was 1.4 billion yuan, a decrease of 0.21% year-on-year, while net profit for the same period was 600.29 thousand yuan, down 5.78% year-on-year [1] - The gross profit margin decreased to 24.72%, down 7.17% year-on-year, and the net profit margin was 2.26%, down 2.63% year-on-year [1] - Total operating expenses (selling, administrative, and financial expenses) amounted to 675 million yuan, accounting for 20.73% of revenue, a decrease of 8.7% year-on-year [1] - The company reported a significant increase in operating cash flow per share, which rose by 129.57% to 2.8 yuan [1] Balance Sheet Highlights - Cash and cash equivalents increased by 113.48% to 772 million yuan, attributed to the accumulation of operating cash flow [1][3] - Accounts receivable decreased by 8.98% to 252 million yuan, but still represented 186.49% of net profit, indicating a high level of receivables relative to profit [1][5] - Interest-bearing liabilities decreased by 9.90% to 991 million yuan [1] Operational Insights - The company experienced a 0.99% decline in operating income, primarily due to reduced supermarket sales [2] - Operating costs increased by 1.59%, attributed to a decline in supermarket gross margins [2] - The company’s return on invested capital (ROIC) was reported at 5.09%, indicating average capital returns, with a historical median ROIC of 4.35% over the past decade [3][4] Business Model and Strategy - The company's performance is heavily reliant on marketing-driven strategies, necessitating a thorough examination of the underlying factors driving these strategies [4]

Core Insights - The company reported a total operating revenue of 3.254 billion yuan, representing a year-on-year decrease of 0.99% [1] - The net profit attributable to shareholders was 86.0081 million yuan, down 2.52% year-on-year [1] Revenue Breakdown - Main business revenue accounted for 87.38% of total operating revenue, while rental and other income made up 12.62% [1] - The composition of main business revenue is as follows: supermarkets 67.37%, department stores and shopping centers 9.44%, electrical and communication 22.60%, and logistics 0.59% [1] Business Segments - The company's core business includes three main segments: commercial retail, logistics, and commercial property leasing [1] - The retail business encompasses various formats such as department stores, comprehensive shopping centers, chain supermarkets, and electrical and communication chains [1] - As of the end of the reporting period, the company operated a total of 343 physical stores across all formats [1]