Financial Performance - Operating revenue for the period was CNY 761,763,026.12, representing a decline of 77.55% year-on-year[12]. - Net profit attributable to shareholders was CNY 76,124,672.63, down 77.43% from the previous year[12]. - Basic earnings per share were CNY 0.0440, a decrease of 77.40% year-on-year[12]. - The company reported a net profit of -32,080,648.64 RMB for the current quarter, compared to a net profit of -628,775.41 RMB in the same quarter last year, indicating a significant decline in profitability[62]. - Total operating revenue for Q1 2020 was ¥761,763,026.12, a decrease of 77.6% compared to ¥3,393,448,085.19 in Q1 2019[54]. - Net profit for Q1 2020 was ¥73,513,205.46, a decline of 80.1% from ¥368,595,760.21 in Q1 2019[58]. - The company reported a profit before tax of ¥105,348,142.63 for Q1 2020, down 77.9% from ¥476,316,091.25 in Q1 2019[58]. - The total comprehensive income for Q1 2020 was ¥8,302,813.84, compared to ¥533,691,142.24 in Q1 2019[60]. Cash Flow - Net cash flow from operating activities was -CNY 639,636,444.18, a significant decrease of 3,536.30% compared to the same period last year[12]. - Cash flow from operating activities showed a net outflow of -639,636,444.18 RMB, compared to a net outflow of -17,590,317.16 RMB in the same quarter last year, reflecting a worsening cash position[67]. - The company generated cash inflows from operating activities totaling 1,794,799,632.18 RMB, down from 3,754,017,665.58 RMB year-over-year, indicating a decline of approximately 52.2%[67]. - Cash outflows for operating activities were 2,434,436,076.36 RMB, compared to 3,771,607,982.74 RMB in the previous year, representing a decrease of about 35.5%[67]. - The total cash and cash equivalents at the end of the quarter were 440,761,666.30 RMB, down from 1,294,879,394.03 RMB at the end of the same quarter last year, indicating a decrease of approximately 66.0%[69]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 18,612,994,276.62, a decrease of 2.83% compared to the end of the previous year[12]. - Total liabilities amounted to ¥10,788,578,981.77, a decrease from ¥11,339,485,687.42[47]. - Total equity attributable to shareholders reached ¥6,760,098,357.39, slightly up from ¥6,749,184,076.38[47]. - Current assets totaled ¥3,771,049,800.81, an increase from ¥2,998,632,266.81[49]. - Non-current assets were reported at ¥5,674,776,436.51, down from ¥5,734,769,876.56[52]. - The company reported total assets of RMB 8,733,402,143.37 as of January 1, 2020[83]. - Total current liabilities included accounts payable of RMB 35,915,331.94[85]. Shareholder Information - The total number of shareholders at the end of the reporting period was 22,506[19]. - The largest shareholder, Shenzhen Maoye Commercial Co., Ltd., held 80.90% of the shares[19]. Government and Other Income - The company received government subsidies amounting to CNY 3,347,388.71 during the period[15]. - The company reported a non-operating income of CNY 5,715,643.06, primarily from financial products and fund income[18]. Inventory and Costs - Operating costs decreased by 89.64% to ¥248,702,741.42, reflecting the same pandemic-related impacts and changes in revenue recognition[24]. - Inventory increased by 61.98% to ¥873,694,043.36, attributed to land compensation payments being included in development costs[24]. Investment and Financing Activities - The company plans to apply for a credit line of ¥2.3 billion from a bank to support its operational needs and repay existing debts[28]. - The company executed a management agreement with its controlling shareholder to manage 16 department stores, with a total management fee not exceeding ¥32 million[28]. - The company acquired an additional 15% stake in Vido Group for ¥57.75 million, increasing its ownership from 70% to 85%[31]. - The company raised 1,190,000,000.00 RMB through borrowings during the quarter, compared to 1,125,000,000.00 RMB in the previous year, reflecting a year-over-year increase of about 5.8%[69]. Organizational Changes - The company adjusted its organizational structure to enhance operational efficiency and management levels[31]. - The company appointed a new vice president to support its operational development[31].

Financial Performance - In 2019, the company achieved a net profit of CNY 969,500,776.15, with total distributable profits for shareholders amounting to CNY 1,876,726,317.36 after accounting for previous distributions and reserves[7]. - The company plans to distribute a cash dividend of CNY 3 per 10 shares, totaling CNY 519,594,763.80 to shareholders[7]. - The company reported an increase in retained earnings, with the beginning balance of undistributed profits at CNY 1,174,999,097.05[7]. - The company's operating revenue for 2019 was CNY 1,223,377.09 million, a decrease of 6.65% compared to 2018[28]. - Net profit attributable to shareholders was CNY 125,942.04 million, an increase of 4.56% year-on-year[28]. - Basic earnings per share for 2019 was CNY 0.7272, reflecting a 4.56% increase from the previous year[29]. - The total assets at the end of 2019 were CNY 1,915,559.82 million, a decrease of 1.58% from the previous year[28]. - The net assets attributable to shareholders increased by 20.43% to CNY 674,918.41 million at the end of 2019[28]. - The company reported a net profit of CNY 388,967.16 million in Q4 2019, the highest among the four quarters[31]. - The company achieved operating revenue of CNY 12,233,770,885.95 in 2019, a decrease of 6.65% compared to the previous year[57]. - Net profit attributable to shareholders increased by 4.56% to CNY 125,942.04 million, while the net profit after deducting non-recurring gains and losses rose by 11.63% to CNY 122,015.24 million[57]. Operational Highlights - The company's main business is focused on commercial retail, accounting for approximately 85% of total revenue, supplemented by property leasing and hotel operations[41]. - The company has 22 physical retail stores, including department stores, shopping centers, outlets, and supermarkets, primarily operating under a joint venture model[41]. - The company signed an operating contract with Moore Supermarket for 12 supermarket stores in Inner Mongolia, with a total area of 81,645 square meters, for a transaction amount not exceeding CNY 300 million[46]. - The company holds a leading position in the retail market in Hohhot and ranks among the top in cities like Chengdu, Shenzhen, and Baotou[51]. - Over 60% of the company's stores are located in prime business districts and are owned properties, providing significant cost advantages and risk resilience[51]. - The company is focusing on enhancing its operational capabilities and supplier partnerships to improve sales efficiency and customer experience[51]. Market Conditions - The retail industry in China has low concentration, presenting opportunities for regional expansion and integration, especially in lower-tier cities[45]. - The company aims to enhance its core competitiveness by balancing customer traffic attraction and purchase rates in its retail operations[51]. - The company recognizes the challenges in the retail sector but remains committed to innovation and transformation to seize emerging opportunities[113]. - The retail industry in China is experiencing a transformation, with significant opportunities for market consolidation and expansion in lower-tier cities[111]. Risk Management - The company has outlined potential risks in its future development strategies, which are detailed in the operational discussion and analysis section of the report[9]. - The company acknowledges risks from new economic forms affecting consumer confidence and increasing competition in the retail sector, which may impact performance[119]. - The company is in a growth phase requiring significant capital investment for acquisitions and retail network expansion, which poses financial risks[119]. Strategic Initiatives - The company is committed to a strategy of "seeking innovation and change, steady development" to strengthen its main business in commercial retail[53]. - The company is actively pursuing acquisitions to expand market share while ensuring that existing operations are financially sustainable[117]. - The company plans to upgrade existing stores and pursue acquisition opportunities to strengthen its market position[112]. - The company is exploring potential acquisitions to strengthen its market position, with a budget of 50 million allocated for this purpose[145]. Digital Transformation - The company expanded its digital membership management through the "茂悦荟 PLUS" platform, enhancing customer engagement and data collection[56]. - The company actively utilized various digital platforms, including WeChat and Douyin, to attract younger customer demographics[56]. - The company plans to improve member management and increase member engagement through various digital platforms, aiming for both external growth and internal development[117]. Corporate Governance - The company guarantees that the content of the proposal does not contain false records, misleading statements, or significant omissions, and assumes individual and joint responsibility for the authenticity, accuracy, and completeness of the content[148]. - The company has committed to not engaging in similar business activities in Chengdu and other regions of Sichuan after acquiring Chengdu People's Market Group Co., Ltd. in 2005, and has strictly adhered to this commitment[148]. - The company will ensure that all related transactions post-restructuring adhere to market principles and fair pricing[140]. - The company will not engage in new acquisitions or establish similar businesses that could compete with its main operations in the same market area[160]. Legal and Compliance - The company has no significant debts that are overdue and has not engaged in major illegal activities in the last three years[134]. - There are no significant litigation or arbitration matters reported for the year, indicating a stable legal environment for the company[177]. - The company is involved in a civil lawsuit with a claim amounting to approximately 95.68 million RMB, related to a rental agreement dispute[179]. Future Outlook - The company provided an optimistic outlook for Q4 2023, projecting a revenue growth of 20% compared to Q3 2023[145]. - New product launches are expected to contribute an additional 10 million in revenue in Q4 2023[145]. - The company reported a significant increase in revenue, achieving a total of 90 million in Q3 2023, representing a 15% year-over-year growth[145].

Financial Performance - Operating income for the first nine months was CNY 8,661,869,398.85, down 4.52% year-on-year[18] - Net profit attributable to shareholders of the listed company increased by 13.48% to CNY 870,453,233.40 compared to the same period last year[18] - Basic earnings per share rose by 13.48% to CNY 0.5026[20] - The weighted average return on net assets increased by 0.31 percentage points to 14.65%[20] - Total operating revenue for Q3 2019 was CNY 2,441,950,217, a decrease of 7.4% compared to CNY 2,636,538,702.88 in Q3 2018[73] - Net profit for the first three quarters of 2019 was CNY 1,016,167,413.50, compared to CNY 1,175,007,533.43 in the same period of 2018, reflecting a decline of 13.5%[69] - Net profit for the third quarter of 2019 was CNY 250,989,333.58, an increase from CNY 218,555,467.04 in the same period last year, representing a growth of approximately 14.5%[76] - The company reported a total profit of CNY 327,620,991.83 for the third quarter, up from CNY 301,602,701.24 year-over-year, marking an increase of approximately 8.6%[76] Assets and Liabilities - Total assets at the end of the reporting period were CNY 19,187,789,075.91, a decrease of 1.41% compared to the end of the previous year[18] - The total liabilities decreased to RMB 11,652,194,241.29 from RMB 12,822,103,818.14, representing a reduction of about 9.1%[63] - The company's cash and cash equivalents increased to RMB 1,381,567,631.22 from RMB 1,075,222,073.80, marking an increase of approximately 28.4%[58] - The total equity attributable to shareholders increased to RMB 6,428,647,433.35 from RMB 5,604,364,448.80, reflecting an increase of about 14.7%[63] - The company's total assets reached CNY 19,462,249,415.54, reflecting a slight decrease from the previous total of CNY 19,529,050,971.01[103] - Current liabilities totaled CNY 7,945,886,706.77, with non-current liabilities at CNY 4,876,217,111.37, leading to a total liability of CNY 12,822,103,818.14[101] Cash Flow - Net cash flow from operating activities decreased by 62.17% to CNY 472,363,153.19 due to lower sales compared to the previous year[20] - The net cash flow from investing activities was 44,873,383.90, a decrease of 664,726,602.40 compared to the previous year, with no acquisition payments made this period[46] - The net cash flow from financing activities decreased by 286,841,270.52, reflecting an increase in loan repayments compared to the same period last year[46] - Cash inflow from operating activities totaled ¥2,942,419,083.50 in the first three quarters of 2019, down from ¥6,699,627,743.62 in 2018, representing a decrease of approximately 56%[92] - The company reported cash outflow from operating activities of ¥2,934,070,415.13 in the first three quarters of 2019, compared to ¥5,713,652,315.12 in the same period of 2018[92] Shareholder Information - The total number of shareholders at the end of the reporting period was 21,010[26] - The largest shareholder, Shenzhen Maoye Commercial Co., Ltd., held 80.90% of the shares, with 1,401,135,188 shares[26] Investments and Acquisitions - The company planned to sell its 40.8779% stake in Shenzhen Youyigou E-commerce Co., Ltd., but decided to terminate the sale due to changes in the macroeconomic environment[47] - The company approved the acquisition of 100% equity in Qinhuangdao Maoye Department Store for a total cash price of 179,026.92 million yuan, but later canceled this acquisition due to market changes[50] - The company established a wholly-owned subsidiary, Baotou Maoye Commercial Development Co., Ltd., with a registered capital of 10 million yuan to expand its business in the Baotou region[50] Other Financial Metrics - Non-recurring gains and losses for the first nine months amounted to CNY 26,143,276.90[24] - Other income increased by 381.14%, from ¥1,587,302.37 to ¥7,637,162.86, primarily from government subsidies related to operating activities[39] - Investment income rose by 134.69%, from ¥8,314,632.44 to ¥19,513,595.02, due to confirmed investment returns from associated companies[39] - Other comprehensive income increased by 99.86%, from ¥61,207,329.68 to ¥122,328,133.65, driven by the increase in fair value of other equity instruments[44]

Financial Performance - The company's operating revenue for the first half of 2019 was approximately ¥6.22 billion, a decrease of 3.34% compared to the same period last year[20]. - The net profit attributable to shareholders of the listed company reached approximately ¥641.17 million, an increase of 14.67% year-on-year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥624.60 million, reflecting a growth of 20.11% compared to the previous year[20]. - The net cash flow from operating activities was approximately ¥224.75 million, a significant decrease of 65.23% compared to the same period last year[20]. - The total assets of the company at the end of the reporting period were approximately ¥19.11 billion, a decrease of 1.79% from the previous year[20]. - The net assets attributable to shareholders of the listed company increased to approximately ¥6.20 billion, representing a growth of 10.61% year-on-year[20]. - The company achieved a basic earnings per share (EPS) of 0.3702 CNY, representing a year-on-year increase of 14.68% compared to the adjusted EPS of 0.3228 CNY from the same period last year[21]. - The weighted average return on equity increased by 0.77 percentage points to 10.93% from 10.16% in the previous year[21]. - The company reported a total revenue of approximately 855.71 million for Shenzhen Maoye Department Store Huqiangbei Co., Ltd., with a net profit of approximately 161.59 million[64]. - The total revenue for the reporting period was approximately CNY 5.33 billion, a decrease of 7.04% compared to CNY 5.74 billion in the same period last year[78]. Cash Flow and Investments - The net cash flow from investing activities increased by 121.21% to ¥78,265,016.65, reversing from a negative cash flow of ¥369,056,875.83 in the previous year[46]. - The net cash flow from financing activities improved by 52.48% to -¥72,629,232.63 from -¥152,852,981.27 in the prior year[46]. - The company approved the use of up to RMB 1 billion of idle funds for low-risk bank wealth management products, with a single investment period not exceeding 3 months[55]. - The company plans to invest up to RMB 350 million in securities over a 12-month period, with the capital being recyclable[55]. - The company reported a total investment in financial assets amounting to RMB 781,066,568.86[59]. Operational Efficiency and Strategy - The company is focusing on enhancing management and operational efficiency through data-driven management practices, which has led to a reduction in the proportion of operating expenses to gross profit[36]. - The company continues to adapt its marketing strategies based on customer demographics and seasonal events to boost sales and customer loyalty[35]. - The company has implemented inventory management policies to control slow-moving goods and improve turnover rates[80]. - The company has established a procurement center divided by regions to enhance procurement efficiency[80]. - The company has a policy for handling slow-moving and expired goods, including return to suppliers and markdown sales[80]. Market Conditions and Competition - The retail sector in China showed resilience, with a 8.4% year-on-year growth in total retail sales of consumer goods, although the growth rate has slowed compared to the previous year[30]. - The retail industry is experiencing intensified competition due to product homogeneity and the continuous increase in new store openings, which may pressure operating costs and gross margins[67]. - The company faces risks from macroeconomic structural adjustments that may impact consumer confidence and spending, potentially affecting business performance[65]. Restructuring and Compliance - The company commits to ensuring the accuracy and completeness of information provided during the restructuring process, with legal responsibility for any false or misleading statements[92]. - The company has established a long-term commitment to ensure compliance with the terms of the acquisition and related financial obligations[92]. - The company will provide timely updates regarding the restructuring to the stock exchange and relevant authorities if any legal investigations arise[98]. - The company guarantees that the equity held in the target company is free from disputes and will maintain its legal status until the transfer to Chengshang Group is completed[98]. - The company has committed to ensuring that the target company remains compliant with all legal and regulatory requirements during the restructuring process[98]. Shareholder Information - The total number of shares is 1,731,982,546, with no change in total share capital despite the transfer of 6,080,270 shares to other shareholders[175]. - The top shareholder, Shenzhen Maoye Commercial Co., Ltd., holds 1,401,135,188 shares, representing 80.90% of the total shares, with 1,144,680,000 shares pledged[178]. - The company has a lock-up period of 42 months for shares subscribed through private placements, which affects the liquidity of certain shareholders[175]. - The report indicates no changes in financial indicators such as earnings per share or net asset value due to share changes during the reporting period[175]. Legal Matters - The lawsuit involving Tai Zhou First Department Store and Feng Lian Real Estate has a total claim amount of RMB 95,682,205, which includes usage fees, rental losses, and service fees[125]. - The court ruled that Tai Zhou First Department Store must compensate Feng Lian Real Estate RMB 66,611,996, plus interest calculated at 1.95 times the bank's benchmark loan rate from December 1, 2014, until payment is completed[126]. - The case has incurred legal costs of RMB 546,756, with Tai Zhou First Department Store responsible for RMB 360,907 of that amount[126]. Future Outlook - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of $500 million allocated for this purpose[104]. - The company is in the process of changing the original plan for asset securitization to involve Weifang Bank as the original equity holder[145]. - Future outlook includes potential restructuring and strategic partnerships to enhance market presence and operational efficiency[163].

Financial Performance - The company achieved a net profit of ¥36,607,748.29 for the year 2018, with a total distributable profit of ¥1,175,007,533.43 after accounting for previous distributions and reserves[6]. - Operating revenue for 2018 reached RMB 1,310,531.38 million, a year-on-year increase of 1.28% compared to RMB 1,293,984.27 million in 2017[26]. - Net profit attributable to shareholders was RMB 120,454.09 million, reflecting a 10.03% increase from RMB 109,478.63 million in the previous year[26]. - Net profit excluding non-recurring gains and losses increased by 40.01% to RMB 109,301.45 million, up from RMB 78,067.30 million in 2017[26]. - The basic earnings per share rose to RMB 0.6955, a 10.03% increase from RMB 0.6321 in 2017[28]. - The company's net assets attributable to shareholders decreased by 2.71% to RMB 560,436.44 million from RMB 576,034.92 million at the end of 2017[26]. - The total assets increased by 3.51% to RMB 1,946,224.94 million compared to RMB 1,880,309.20 million at the end of 2017[26]. - The significant increase in net profit excluding non-recurring gains was primarily due to the opening of the real estate project "Maoye Haoyuan" and a slight increase in store operating gross profit[31]. - The company reported a total asset increase from approximately 17.77 billion RMB at the end of 2017 to about 19.46 billion RMB by the end of the reporting period, with net assets growing from 6.14 billion RMB to 6.64 billion RMB[46]. - The total revenue for the reporting period was approximately ¥11.33 billion, a decrease of 2.73% compared to ¥11.65 billion in the previous year[89]. Dividends and Shareholder Returns - A cash dividend of ¥1 per 10 shares will be distributed to shareholders, totaling ¥173,198,254.60[6]. - The company will not increase capital reserves from retained earnings for the year 2018[6]. - In 2018, the company distributed a cash dividend of CNY 3 per 10 shares, which accounted for 43.14% of the net profit attributable to ordinary shareholders[127]. - The company reported a net profit of approximately CNY 1.20 billion for 2018, with a significant portion allocated for shareholder dividends[127]. Operational Strategies and Market Expansion - The company plans to continue its market expansion efforts, particularly in the South China region, following the acquisition of stores in Shenzhen and Zhuhai[16]. - The company aims to balance customer traffic attraction and purchase rates by transforming department stores into shopping centers and vice versa[51]. - The company has established a strong market position in Hohhot and ranks among the top in Chengdu, Shenzhen, and Baotou, indicating a competitive advantage in regional markets[51]. - The company is enhancing its operational capabilities and supplier partnerships to improve efficiency and customer experience[51]. - The company has developed a diverse brand portfolio, including "Maoye Tiandi" and "Maoye Department Store," which has strengthened brand recognition and customer loyalty[51]. - The company plans to invest up to 350 million RMB in securities over a 12-month period to enhance capital efficiency[98]. Risks and Challenges - The company has outlined potential risks in its future development strategies, which are detailed in the operational discussion section[8]. - The retail industry experienced a slowdown, with the total retail sales of consumer goods growing by 9.0% year-on-year in 2018, a decline of 1.2 percentage points compared to 2017[44]. - The company faces risks from intensified competition in the retail sector, which may pressure operating costs and profit margins[120]. - The company recognizes potential financial risks due to significant capital expenditures required for expansion and acquisitions[121]. Acquisitions and Investments - The company acquired 100% equity of Chongqing Maoye Department Store and 97.31% equity of Taizhou First Department Store during the reporting period, enhancing its market presence[46]. - The company implemented a strategy of mergers and acquisitions, acquiring Chongqing Maoye Department Store and Taizhou First Department Store, and holding 38.24% of Shenzhen Youyigou E-commerce[56]. - The company has committed to ensuring that all information provided during the restructuring process is true, accurate, and complete, with no false records or significant omissions[130]. Financial Management and Compliance - The board of directors and management have confirmed the accuracy and completeness of the financial report, assuming legal responsibility[4]. - The company has guaranteed that the actual net profits for the years 2015, 2016, and 2017 will not be less than CNY 637.55 million, CNY 711.01 million, and CNY 779.22 million respectively[132]. - The company confirmed that it has no significant legal violations or major debts that remain unpaid over the last three years, ensuring compliance with regulatory requirements[149]. - The company will ensure that the restructuring allows for independent financial decision-making without interference from related parties, and that it will independently pay taxes[158]. Future Outlook - The company anticipates a stable growth in retail sales in 2019, supported by government policies aimed at stimulating consumption[114]. - The company provided a positive outlook for the next quarter, projecting a revenue growth of 25% based on current market trends and user acquisition strategies[176]. - The company plans to invest 50 million in research and development to drive innovation in its product line[176]. - Future guidance includes an expected EBITDA margin of 30% for the upcoming fiscal year, reflecting strong operational performance[176].

Financial Performance - Operating income for the period was ¥3,393,448,085.19, a decrease of 4.95% year-on-year[12] - Net profit attributable to shareholders of the listed company was ¥337,255,854.30, reflecting a growth of 9.50% compared to the previous year[12] - Basic earnings per share increased by 9.51% to ¥0.1947[12] - The weighted average return on net assets rose by 0.60 percentage points to 5.84%[12] - Total revenue for Q1 2019 was approximately CNY 3.39 billion, a decrease of 4.95% compared to CNY 3.57 billion in Q1 2018[55] - Operating profit for Q1 2019 increased to approximately CNY 482.37 million, compared to CNY 439.45 million in Q1 2018, representing a growth of 9.75%[55] - Net profit for Q1 2019 was approximately CNY 368.60 million, up from CNY 335.25 million in Q1 2018, indicating an increase of 9.95%[55] - Net profit attributable to shareholders increased to ¥337,255,854.30, up from ¥307,995,279.52, representing a growth of approximately 9.1% year-over-year[56] - Total comprehensive income reached ¥533,691,142.24, compared to ¥376,954,069.65 in the previous year, reflecting an increase of about 41.6%[56] Assets and Liabilities - Total assets at the end of the reporting period reached ¥19,502,795,841.27, an increase of 0.21% compared to the end of the previous year[12] - The company reported a significant decrease in other current assets, down by 73.50% to ¥68,015,038.96 due to the redemption of financial products[25] - The total amount of the share buyback plan reached approximately ¥80.06 million, representing 0.95% of the company's total share capital[31] - The total liabilities decreased to ¥12,328,959,101.63 from ¥12,822,103,818.14 compared to the previous period[42] - The company's total assets as of March 31, 2019, were ¥19,502,795,841.27, slightly up from ¥19,462,249,415.54 at the end of 2018[42] - Total liabilities as of March 31, 2019, were approximately CNY 3.98 billion, down from CNY 4.71 billion at the end of 2018, reflecting a reduction of 15.59%[49] - Total current liabilities were RMB 3,399,018,296.86, unchanged from the previous period[91] Cash Flow - The net cash flow from operating activities decreased significantly by 105.09% to -¥17,590,317.16, primarily due to a slight decline in sales and concentrated payments to suppliers[15] - Cash flow from operating activities for Q1 2019 was negative at -17,590,317.16, compared to a positive cash flow of 345,276,166.29 in Q1 2018, indicating a significant decline[67] - Total cash inflow from investment activities in Q1 2019 was 438,779,647.98, down from 780,579,651.86 in Q1 2018, reflecting a decrease of approximately 43.8%[68] - Net cash flow from financing activities for Q1 2019 was 130,924,987.64, compared to 185,499,071.37 in Q1 2018, showing a decline of about 29.4%[68] - The cash flow from financing activities included cash received from borrowings of 1,125,000,000.00 in Q1 2019, up from 800,000,000.00 in Q1 2018, reflecting a growth of 40.6%[68] Shareholder Information - The total number of shareholders at the end of the reporting period was 22,460[20] - The largest shareholder, Shenzhen Maoye Commercial Co., Ltd., held 81.23% of the shares, with 1,406,857,724 shares[20] - The company appointed a new independent director, Zeng Zhigang, following the resignation of independent director Zhu Xiaogang due to changes in his professional obligations[27] Investments and Guarantees - The company recognized government subsidies amounting to ¥3,419,890.05, primarily for industry development support[16] - The company has provided a maximum guarantee of ¥100 million for its subsidiary, Inner Mongolia Weiduo Li Commercial Group Co., Ltd., to support its operational development[28] - The company has also approved a maximum guarantee of ¥80 million for Chengdu Qinyang Renhe Spring Department Store Co., Ltd. to facilitate its credit application[29] - The company recognized an increase in investment income by 65.80%, amounting to ¥836,345.34, due to returns from investments in Shenzhen Youyi E-commerce Co., Ltd.[25] Changes in Financial Standards - The company executed a reclassification of financial assets under new financial instrument standards, resulting in a 100% decrease in available-for-sale financial assets, totaling ¥730,087,118.08[25] - The company implemented new financial instrument standards starting January 1, 2019, adjusting the classification of certain financial assets[86] - The company reported a decrease in available-for-sale financial assets by RMB 730,087,118.08 due to reclassification under the new standards[86]

Financial Performance - The company reported a net profit of ¥36,607,748.29 for the year 2018, with total distributable profits for shareholders amounting to ¥1,175,007,533.43 after accounting for previous distributions[6]. - The company's operating revenue for 2018 was CNY 1,310,531.38 million, representing a year-on-year increase of 1.28% compared to CNY 1,293,984.27 million in 2017[26]. - The net profit attributable to shareholders of the listed company reached CNY 120,454.09 million, marking a 10.03% increase from CNY 109,478.63 million in the previous year[26]. - The net profit after deducting non-recurring gains and losses increased by 40.01% to CNY 109,301.45 million, driven by the opening of the real estate project and a slight increase in store operating gross profit[31]. - The basic earnings per share for 2018 was CNY 0.6955, reflecting a 10.03% increase from CNY 0.6321 in 2017[28]. - The total assets at the end of 2018 amounted to CNY 1,946,224.94 million, an increase of 3.51% from CNY 1,880,309.20 million at the end of 2017[26]. - The net assets attributable to shareholders of the listed company decreased by 2.71% to CNY 560,436.44 million from CNY 576,034.92 million in 2017[26]. - The company reported a significant increase in cash flow from operating activities, indicating improved liquidity and operational efficiency[31]. - The company reported a net profit of CNY 405,078,349.67 from Shenzhen Maoye Department Store Huqiangbei Limited[110]. Dividends and Reserves - A cash dividend of ¥1 per 10 shares (including tax) is proposed, totaling ¥173,198,254.60 to be distributed to shareholders[6]. - The company extracted 10% of the net profit as statutory surplus reserve, amounting to ¥3,660,774.83[6]. - The company has not proposed any capital reserve increase from surplus for the year 2018[6]. - The company reported a cash dividend of CNY 3 per 10 shares for 2018, which represents 43.14% of the net profit attributable to ordinary shareholders[127]. Operational Efficiency and Strategy - The company plans to continue its strategic development while being aware of the associated risks[7]. - The company plans to continue expanding its real estate projects and enhance store profitability to sustain growth in the coming years[31]. - The company is focusing on integrating online and offline sales channels to enhance sales efficiency and customer experience[51]. - The company plans to enhance operational efficiency by focusing on three key strategies: improving sales per square meter, enhancing product offerings, and prioritizing owned properties over leased ones[115]. - The company aims to upgrade existing stores and explore acquisition opportunities to strengthen its market position[115]. Market Position and Expansion - The company expanded its store count to 34, focusing on self-operated, joint venture, and leasing models, with joint ventures being the primary mode[41]. - The company acquired 100% of Chongqing Maoye Department Store and 97.31% of Taizhou First Department Store, further increasing its market presence[46]. - The company has established a strong market position in Hohhot and ranks among the top in Chengdu, Shenzhen, and Baotou[51]. - The company maintains over 60% of its properties as self-owned, providing significant cost advantages and property appreciation potential[51]. Risks and Challenges - The company has detailed potential risks in its operational discussion and analysis section, highlighting factors that may affect future development[8]. - The retail industry in China experienced a slowdown, with total retail sales growth of 9.0% in 2018, down 1.2 percentage points from 2017[44]. - The company faces risks from intensified competition in the retail sector, which may pressure operating costs and profit margins[120]. - The company has identified the need for refined management practices to control costs and enhance profitability across departments[119]. Cash Flow and Investments - The net cash flow from operating activities surged by 111.11% to CNY 267,248.38 million, attributed to the receipt of home purchase payments from the real estate project and reduced payments for goods and taxes[31]. - The net cash flow from investing activities decreased to -¥1,125,944,604.03, a 69.46% decline from -¥664,424,614.38 year-on-year, primarily due to equity acquisition payments[70][71]. - The net cash flow from financing activities decreased to -¥1,179,083,509.55, a significant 240.65% increase in outflows compared to -¥346,132,557.07 last year, attributed to reduced new bank loans and increased loan repayments[70][74]. - Cash and cash equivalents at the end of the period amounted to ¥1,075,222,073.80, representing 5.52% of total assets, up 31.74% from ¥787,972,332.63 last year[76]. Subsidiaries and Equity - The subsidiary Chengdu Renhe Spring reported a net profit of CNY 42,803,340.85, contributing 3.28% to the company's total net profit[107]. - Shenzhen Maoye Department Store generated a net profit of CNY 383,675,752.60, accounting for 29.38% of the company's total net profit[110]. - The subsidiary Chengdu Qingyang District Renhe Spring Department Store achieved a net profit of CNY 106,559,499.23, representing 8.16% of the company's total net profit[107]. - The total assets of the subsidiary Chengdu Maoye Department Store reached CNY 5,586,095,577.52[107]. Restructuring Commitments - The company has committed to ensuring that all information provided during the restructuring process is true, accurate, and complete, with no false records or significant omissions[130]. - The company has established a mechanism for share repurchase and compensation in case of unmet profit commitments, ensuring accountability among stakeholders[134]. - The company guarantees that after the completion of the restructuring, the labor, personnel, and compensation management of Chengshang Group and the target company will be completely independent from the company and its controlled entities[152]. - The company will ensure that after the restructuring, Chengshang Group and the target company will establish independent financial departments and accounting systems[152]. - The company will not engage in any activities that may harm the interests of Chengshang Group and its controlled entities[152].

Financial Performance - Net profit attributable to shareholders increased by 28.22% to CNY 740.71 million for the first nine months of the year[7]. - Basic earnings per share rose by 28.25% to CNY 0.4277[8]. - The company reported a net profit of CNY 715.69 million for the third quarter, reflecting a 29.80% increase year-on-year[8]. - The company's net profit increased by 37.74% year-on-year, reaching approximately CNY 1.53 billion[15]. - The company’s minority shareholders' profit increased by 47.45% to CNY 59.88 million, reflecting the overall profit growth of the company[16]. - The company reported a total comprehensive income of CNY 277,113,684.29 for Q3 2018, compared to CNY 195,961,303.54 in Q3 2017, an increase of 41.3%[33]. Revenue and Costs - Revenue for the first nine months was CNY 8.57 billion, a slight increase of 0.58% compared to the same period last year[7]. - Total operating revenue for Q3 2018 was CNY 2,505,848,307.26, a decrease of 1.6% compared to CNY 2,546,084,409.52 in Q3 2017[31]. - Total operating costs for Q3 2018 were CNY 2,210,910,961.53, down 3.0% from CNY 2,278,417,104.55 in Q3 2017[32]. - Sales expenses for the first nine months of 2018 reached 6,978,010.95 RMB, a 119.4% increase compared to 3,179,986.08 RMB in the same period last year[34]. - Management expenses for the first nine months of 2018 were 29,474,376.04 RMB, significantly higher than 9,513,440.97 RMB in the previous year[34]. Assets and Liabilities - Total assets increased by 3.52% to CNY 18.68 billion compared to the end of the previous year[7]. - The company’s total equity attributable to shareholders increased by 2.71% to CNY 5.44 billion compared to the end of the previous year[7]. - Total liabilities due within one year increased by 84.68% to CNY 1.15 billion, reflecting a rise in long-term borrowings[15]. - Total liabilities increased to ¥12.25 billion from ¥11.82 billion, reflecting a rise of approximately 3.6%[25]. - Total equity decreased to CNY 3,756,582,250.50 from CNY 4,258,720,338.90, a decline of 11.8% year-over-year[28]. Cash Flow - Operating cash flow increased by 45.16% to CNY 1.25 billion, primarily due to the opening of the Maoye Haoyuan project and advance payments for housing[8]. - Cash flow from operating activities rose by 45.16% to CNY 1.25 billion, driven by the launch of the Maoye Haoyuan project and advance payments for housing[16]. - The company achieved a total cash inflow from operating activities of 10,253,162,908.89 RMB, slightly up from 10,018,951,300.33 RMB in the previous year[38]. - The net cash flow from operating activities was 985,975,428.50 RMB, compared to 393,720,354.83 RMB in the previous year, reflecting an increase of about 150.2%[41]. - The net cash flow from financing activities was 80,502,352.08 RMB, compared to a negative cash flow of -366,409,997.23 RMB in the previous year[39]. Investments and Acquisitions - The company acquired approximately 38% of Shenzhen Youyigou Financial Assets Co., Ltd., leading to a 34.22% increase in available-for-sale financial assets to ¥1,174,561,379.60[14]. - The company terminated the acquisition of Qinhuangdao Maoye due to the need for further clarification of related transactions[19]. Shareholder Information - The total number of shareholders is 22,830[13]. - The largest shareholder, Shenzhen Maoye Department Store Co., Ltd., holds 1,406,857,724 shares, accounting for 81.23% of total shares[13]. - The number of shares held by the top ten unrestricted shareholders includes 388,226,763 shares held by Shenzhen Maoye Department Store Co., Ltd.[13]. Future Outlook - The company has not disclosed specific future outlook or guidance in this report[5]. - The company plans to repurchase shares worth between CNY 80 million and CNY 360 million over the next six months, reflecting confidence in future growth[18].

Financial Performance - The company's operating revenue for the first half of 2018 was approximately CNY 6.07 billion, representing a 1.50% increase compared to the same period last year[19]. - The net profit attributable to shareholders for the first half of 2018 was approximately CNY 538.27 million, a significant increase of 37.31% year-on-year[19]. - The basic earnings per share for the first half of 2018 was CNY 0.3108, reflecting a 37.34% increase compared to the same period last year[20]. - The company achieved operating revenue of CNY 6,066.27 million, a year-on-year increase of 1.5%[26]. - Net profit reached CNY 587.65 million, with a non-recurring net profit of CNY 520.01 million, reflecting a growth of 37.26%[26]. - The company's main business revenue for the reporting period was approximately CNY 5.47 billion, a decrease of 0.48% compared to the same period last year[64]. - The company experienced a total operating income of CNY 3,075,525,060.37, with a net profit margin of 7.88%[55]. Assets and Liabilities - The total assets of the company as of June 30, 2018, were approximately CNY 17.77 billion, a decrease of 1.56% from the end of the previous year[19]. - The total amount of accounts receivable decreased by 53.33% to CNY 48.94 million, indicating improved cash collection[45]. - The total liabilities amounted to 254,289,163.99 CNY, highlighting the company's financial obligations[198]. - The company has a significant receivable amount of 93,587,269.31 CNY, which may impact cash flow management[198]. Cash Flow - The company reported a net cash flow from operating activities of approximately CNY 646.18 million, a slight increase of 0.41% compared to the same period last year[19]. - The company's cash flow from operating activities was CNY 646.18 million, a slight increase of 0.41% compared to the previous year[37]. - The company reported a significant increase of 45.63% in net cash flow from financing activities, primarily due to a reduction in cash dividends paid and changes in borrowing[42]. Market and Operational Strategy - The company expanded its market presence by acquiring Chongqing Maoye Department Store, enhancing its revenue and profitability[34]. - The company maintained a strong operational capability, focusing on supply chain management and cost control[30]. - The retail market in China saw a 9.4% growth in total retail sales of consumer goods in the first half of 2018, benefiting the company’s performance[27]. - The company is actively managing its store portfolio, balancing between opening new stores and optimizing existing ones[59]. - The company’s strategy includes expanding its presence in key cities such as Shenzhen and Hohhot, focusing on both department stores and shopping centers[59]. Expenses and Cost Management - The company’s sales expenses decreased by 6.40% to CNY 604.03 million, while management expenses increased by 8.17% to CNY 137.47 million[37]. - The company reported a gross cost of CNY 4.23 billion, which accounted for 98.34% of total costs, showing a slight decrease from the previous year[39]. - The rental expenses for the reporting period were CNY 202.10 million, with a cost ratio of 22.50%, up from 21.49% in the previous year[73]. Store Operations - In the first half of 2018, the company opened 1 new store and closed 1 store, resulting in a total of 36 retail stores[59]. - The average revenue per store in the first half of 2018 was approximately 4.78 million[59]. - The company has a mix of self-owned and leased properties, with significant portions of the Hohhot stores being self-owned[60]. Related Party Transactions and Commitments - The company has not faced any administrative penalties or significant legal issues in the last five years[97]. - The company has committed to ensuring the accuracy and completeness of information provided during the restructuring process, with a long-term validity of the commitment[78]. - The company will not engage in any actions that could harm the interests of the listed company or its shareholders[122]. - The company has committed to conducting related party transactions at fair market prices and will adhere to legal disclosure obligations[122]. Future Outlook - Future outlook includes potential market expansion and continued focus on enhancing user experience through new product offerings and technology[59]. - The company is exploring new strategies for market expansion, although specific details were not disclosed in the report[198]. - The company plans to avoid substantial competition with Maoye Commercial by fully entrusting the management of Baotou Maoye Tiandi to Maoye Commercial for 48 months post-restructuring[176].

2018 年第一季度报告 公司代码：600828 公司简称：茂业商业 茂业商业股份有限公司 2018 年第一季度报告 1 / 22 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 7 | | 四、 | 附录 11 | 2018 年第一季度报告 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 公司负责人高宏彪、主管会计工作负责人王宗磊及会计机构负责人（会计主管人员）欧晓龙 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 22 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(%) 调整后 调整前 总资产 18,048,907,714.75 18,046,525,157.02 17,770,463,179.41 0.01 归属于上市公司 股东的净资产 5,2 ...