证券代码：600859 证券简称：王府井 编号：临 2023－018 王府井集团股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩说明会的公告 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： 会议召开时间：2023 年 05 月 23 日(星期二)下午 15:00-16:30 （一） 会议召开时间：2023 年 05 月 23 日下午 15:00-16:30。 （二） 会议召开地点：上证路演中心。 （三） 会议召开方式：上证路演中心视频直播和网络互动。 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频直播和网络互动 投资者可于 2023 年 05 月 16 日(星期二)至 05 月 22 日(星期一)16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 wfjdshh@wfj.com.cn 进行提问。公司将在说明会上对投资者普遍关注的问 ...

Financial Performance - The company's operating revenue for Q1 2023 was ¥3,366,874,427.85, representing a 1.58% increase compared to ¥3,314,357,903.15 in the same period last year[4] - Net profit attributable to shareholders decreased by 39.77% to ¥226,431,222.05 from ¥376,845,844.58 year-on-year[4] - The net profit after deducting non-recurring gains and losses increased by 144.83% to ¥223,994,013.51 compared to ¥91,489,811.42 in the previous year[4] - Basic earnings per share decreased by 39.77% to ¥0.200 from ¥0.333 year-on-year[4] - The weighted average return on equity decreased by 55.72 percentage points to 1.141% from 2.584% in the previous year[4] - Net profit for Q1 2023 was approximately ¥232.59 million, a decrease of 37.87% from ¥374.20 million in Q1 2022[19] - The company’s tax expenses for Q1 2023 were approximately ¥126.79 million, a decrease of 37.00% from ¥201.46 million in the same quarter last year[19] Cash Flow - The net cash flow from operating activities was ¥1,266,654,946.32, a significant improvement from a negative cash flow of ¥-213,217,569.56 in the same period last year[4] - Cash flow from operating activities for Q1 2023 was approximately ¥1.27 billion, a turnaround from a negative cash flow of ¥214.23 million in Q1 2022[21] - The company reported a net increase in cash flow from investment activities of approximately ¥158.76 million, compared to a negative cash flow of ¥134.25 million in the previous year[21] - Cash inflow from financing activities totaled $80,002,616.00, a decrease from $81,603,000.00 in the previous period, reflecting a decline of approximately 1.96%[22] - Net cash flow from financing activities was -$381,728,245.87, slightly improved from -$398,063,612.29 year-over-year[22] - The company reported a net increase in cash and cash equivalents of $1,040,048,600.41, contrasting with a decrease of -$747,899,211.89 in the prior year[22] - The ending balance of cash and cash equivalents was $10,183,518,921.15, down from $13,078,646,661.96 in the previous year[22] - Cash paid for dividends, profits, or interest amounted to $54,805,743.88, significantly higher than $19,347,408.32 in the previous period[22] - Cash outflow related to financing activities totaled $461,730,861.87, a decrease from $479,666,612.29 year-over-year[22] - The impact of exchange rate changes on cash and cash equivalents was -$3,640,410.39, compared to -$1,350,238.06 in the previous year[22] Assets and Liabilities - As of March 31, 2023, the company's total current assets amounted to approximately CNY 13.59 billion, an increase of 7.58% from CNY 12.63 billion as of December 31, 2022[16] - The company's cash and cash equivalents reached CNY 10.77 billion, up from CNY 9.99 billion, reflecting a growth of 7.69%[16] - Accounts receivable decreased to CNY 301.63 million from CNY 382.66 million, a decline of 21.14%[16] - Inventory increased to CNY 1.83 billion, representing a growth of 10.24% compared to CNY 1.66 billion at the end of 2022[16] - Total non-current assets rose to CNY 25.21 billion, an increase of 7.00% from CNY 23.56 billion[17] - The company's total assets reached CNY 38.79 billion, up 7.24% from CNY 36.19 billion[17] - Total current liabilities increased to CNY 8.33 billion, a rise of 7.10% from CNY 7.78 billion[18] - The company's total liabilities amounted to CNY 18.62 billion, reflecting an increase of 8.41% from CNY 16.25 billion[18] - Shareholders' equity totaled CNY 20.18 billion, up from CNY 19.94 billion, indicating a growth of 1.19%[18] - The company reported a slight increase in long-term equity investments to CNY 1.88 billion from CNY 1.87 billion, a growth of 0.05%[17] Market and Operations - Online sales increased by over 60% year-on-year due to various promotional activities[13] - The shopping center market is rapidly expanding, demonstrating strong resilience[13] - The trial operation of the Wangfujing International Duty-Free Port began on January 18, leading to a significant increase in customer traffic[13] - The company has implemented various marketing activities, including themed fashion events, to capitalize on the recovering retail market[13] - The company continues to promote its stores through multiple online sales channels, enhancing overall sales performance[13] Legal and Compliance - The company is involved in a lawsuit with claims totaling approximately 170.9 million yuan for damages related to property transfer disputes[14] - The company has decided to adopt the new accounting policy effective from January 1, 2023, which will not significantly impact its financial status[15] - The company did not apply new accounting standards or interpretations for the first time in 2023[22] Shareholder Information - The total number of common shareholders at the end of the reporting period was 85,791[11] - Beijing Capital Tourism Group Co., Ltd. holds 372,776,396 shares, accounting for 32.84% of total shares[11]

Financial Performance - The company's operating revenue for 2022 was ¥10,799,892,245.02, a decrease of 15.32% compared to ¥12,753,708,942.16 in 2021[15]. - The net profit attributable to shareholders for 2022 was ¥194,917,185.19, representing an 85.45% decline from ¥1,339,803,790.29 in the previous year[15]. - The net cash flow from operating activities decreased by 40.79% to ¥1,640,989,731.12 from ¥2,771,323,205.77 in 2021[15]. - The company's total assets as of the end of 2022 were ¥36,192,100,087.35, down 7.67% from ¥39,196,939,527.57 in 2021[15]. - The net assets attributable to shareholders decreased by 1.06% to ¥19,142,336,216.04 from ¥19,347,006,922.14 in the previous year[15]. - The basic earnings per share for 2022 were ¥0.172, a decrease of 87.38% compared to ¥1.363 in 2021[16]. - The diluted earnings per share for 2022 was CNY 0.172, a decrease of 87.33% compared to the previous year[17]. - The company's annual revenue growth was impacted by a 3% year-on-year increase in China's GDP, while the total retail sales of consumer goods decreased by 0.2%[26]. - The company achieved an annual revenue of 10.8 billion RMB, a year-on-year decrease of 15.32%, with same-store sales declining by 18.98%[34]. - Net profit attributable to shareholders was 195 million RMB, down 85.45% compared to the previous year, primarily due to store closures and related costs totaling 392 million RMB[34]. Operational Challenges - The company reported a significant decline in customer traffic and store operations due to decreased consumer demand and temporary store closures[15]. - During the reporting period, only 4 out of 76 large stores operated normally, with 63 stores experiencing closures averaging 31 days, and 8 stores closed for over two months[26]. - The total operating revenue for Q2 2022 was CNY 2,429,866,873.13, reflecting a significant decline in performance due to external factors[19]. - The total operating revenue for Q4 2022 was CNY 2,333,416,091.16, indicating a decline compared to previous quarters due to reduced customer traffic[19]. - The company faced challenges due to decreased consumer demand and reduced foot traffic, leading to store closures and shortened operating hours[190]. Strategic Initiatives - The company plans to distribute a cash dividend of ¥1.00 per 10 shares, totaling approximately ¥113,504,945.10 based on the total share capital of 1,135,049,451 shares[3]. - The company has outlined various risks including macroeconomic, industry, and operational management risks in its report[5]. - The company plans to deepen its retail business and enhance its retail ecosystem, focusing on both taxable and duty-free operations[33]. - The company is focusing on transforming its department store operations with tailored strategies for each store, achieving progress in brand adjustments and introducing over 200 new brands[26]. - The company aims to enhance customer experience through digital transformation, including the development of a data asset platform and smart stores[31]. - The company is exploring potential acquisitions to enhance its market share in the retail sector, with a focus on brands that align with its strategic vision[59]. - The company plans to continue expanding its presence in the Hainan province with the approval to operate duty-free business[63]. Investments and Acquisitions - The company completed the acquisition of Beijing Wangfujing Development Co., Ltd. and Beijing Hongye Real Estate Development Co., Ltd. during the reporting period, impacting the consolidated financial statements[17][20]. - The company acquired a 12% stake in Beijing Wangfujing Shopping Center Management Co., increasing its ownership to 60%[45]. - The company acquired 100% equity of Hainan Outlets Tourism Development Co., Ltd. and renamed it Wangfujing International Duty-Free Port, which began trial operations in January 2023[63]. - The company completed the acquisition of 51% of Beijing Wangfujing Real Estate Co. for RMB 10.30 million and 100% of Beijing Wangfujing Development Real Estate Co. for RMB 19.18 million[66]. - The company made equity investments totaling 876.64 million yuan, an increase of 277.44 million yuan compared to the previous year, primarily for acquiring stakes in various companies[64]. Financial Management - The company's investment activities resulted in a net cash outflow of approximately 1.49 billion RMB, reflecting a 253.96% decrease compared to the previous year[35]. - The company’s cash flow from operating activities was 1.64 billion RMB, down 40.79% year-on-year[35]. - The total expenses for 2022 were approximately ¥1.70 billion, reflecting a year-on-year increase of 3.48%[48]. - The company’s total investment income from equity investments was RMB 301 million, with goodwill recognized at RMB 367 million[66]. - The company’s loans to subsidiaries included a total of RMB 45 million in guarantees during the reporting period[165]. Governance and Compliance - The company held 3 shareholder meetings during the reporting period, ensuring equal rights for all shareholders, especially minority shareholders[85]. - The board of directors consists of 11 members, including 4 independent directors, and held 9 meetings during the reporting period to oversee major decisions[85]. - The company has established a comprehensive internal control system, including over 200 internal regulations and 40 new or revised policies by the end of 2022[86]. - The company emphasizes transparency and has established multiple disclosure systems to ensure timely and accurate information sharing with shareholders[86]. - The company has not reported any significant differences in governance compared to regulations set by the China Securities Regulatory Commission[87]. Market Expansion - The company is focusing on market expansion in the Southwest region, with several new stores launched in cities like Guizhou and Sichuan, enhancing its regional presence[60]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[95]. - The company plans to open 50 new retail locations in the next year, aiming for a 15% increase in foot traffic[95]. - The company is actively exploring new product lines and technologies to enhance customer experience and drive sales growth in its stores[60]. Sustainability and Social Responsibility - The company achieved a reduction of 2,521 tons in carbon dioxide equivalent emissions through various energy-saving measures[131]. - The company actively promotes green and low-carbon actions through public engagement and collaboration with various organizations[131]. - The company engaged in poverty alleviation projects, investing 1.482 million yuan in agricultural support initiatives[135]. - The "Green Life Plan" activity engaged nearly 17 million participants and generated over 75.5 million exposures, promoting green consumption[130]. Future Outlook - The company expects a significant increase in net profit attributable to shareholders in Q1 2023, driven by a low base effect from Q1 2022 and active marketing efforts[169]. - Future outlook remains optimistic, with management guiding for a revenue growth target of 10% for the upcoming fiscal year[59]. - The company plans to strengthen its duty-free business by enhancing organizational structure and management systems, with a focus on the successful opening of the second phase of the Wanning project[81].

2022 年第三季度报告 单位：元 币种：人民币 证券代码：600859 证券简称：王府井 王府井集团股份有限公司 2022 年第三季度报告 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： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 年初 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------|------------------|------------------|------------------|---------------------------------------------------------|------- ...

公司代码：600859 公司简称：王府井 2022 年半年度报告 王府井集团股份有限公司 2022 年半年度报告 1 / 173 2022 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人杜宝祥、主管会计工作负责人杜建国及会计机构负责人（会计主管人员）吴珺 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 本报告期内，公司不进行利润分配，也不进行公积金转增。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺，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、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 本 ...

2022 年第一季度报告 单位：元 币种：人民币 1 / 13 证券代码：600859 证券简称：王府井 王府井集团股份有限公司 2022 年第一季度报告 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个别及连带责任。 重要内容提示 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 | --- | --- | --- | --- | --- | |-----------------------------------------------|------------------|-------------------|------------------|------------------------------------------- ...

[Important Notes](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) This section confirms the report's authenticity and outlines the 2021 profit distribution plan - The Board of Directors, Board of Supervisors, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of this annual report[2](index=2&type=chunk) - ShineWing Certified Public Accountants (Special General Partnership) issued a **standard unqualified audit opinion** for the company[3](index=3&type=chunk) 2021 Annual Profit Distribution Plan | Distribution Plan | Details | | :--- | :--- | | **Cash Dividend** | A cash dividend of RMB 4 (tax inclusive) will be distributed for every 10 shares held | | **Total Dividend Amount** | Based on the total share capital of 1,132,841,451 shares as of December 31, 2021, the total proposed cash dividend is RMB 453,136,580.40 (tax inclusive) | | **Dividend Payout Ratio** | The cash dividend payout ratio for the year is **33.81%** | | **Capital Reserve Capitalization** | No capitalization of capital reserves into share capital will be conducted this year | [Definitions](index=4&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8A%E4%B9%89) This section provides definitions for key terms and abbreviations used throughout the report [Company Profile and Key Financial Indicators](index=4&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section presents the company's basic information and key financial performance indicators for the past three years [Company Information](index=4&type=section&id=%E5%85%AC%E5%8F%B8%E4%BF%A1%E6%81%AF) This chapter provides the basic corporate information, contact details, and information disclosure channels for Wangfujing Group Co, Ltd Company Basic Information | Item | Content | | :--- | :--- | | **Chinese Name** | 王府井集团股份有限公司 | | **Stock Ticker** | Wangfujing | | **Stock Code** | 600859 | | **Listing Exchange** | Shanghai Stock Exchange | | **Legal Representative** | Du Baoxiang | [Key Accounting Data and Financial Indicators for the Last Three Years](index=5&type=section&id=%E8%BF%91%E4%B8%89%E5%B9%B4%E4%B8%BB%EE%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) The company's performance grew significantly in 2021, with revenue up 10.55% and net profit attributable to parent up 295.61% 2021 Key Accounting Data (Restated) | Indicator | 2021 (RMB) | 2020 (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 12,753,081,424.86 | 11,535,553,782.42 | 10.55 | | **Net Profit Attributable to Parent** | 1,340,242,115.52 | 338,778,553.18 | 295.61 | | **Non-recurring Net Profit Attributable to Parent** | 942,585,380.43 | 407,549,361.38 | 131.28 | | **Net Cash Flow from Operating Activities** | 2,772,010,556.15 | 707,893,702.71 | 291.59 | | **Total Assets** | 39,150,581,109.27 | 28,597,807,986.37 | 36.90 | | **Net Assets Attributable to Parent** | 19,347,010,440.78 | 15,619,138,591.57 | 23.87 | 2021 Key Financial Indicators (Restated) | Indicator | 2021 | 2020 | Change | | :--- | :--- | :--- | :--- | | **Basic Earnings Per Share (RMB/Share)** | 1.364 | 0.347 | 293.08% | | **Weighted Average Return on Equity (%)** | 8.858 | 2.161 | Increased by 6.697 percentage points | - Prior period comparative data in the consolidated financial statements were restated due to the completion of business combinations under common control, including the share-swap merger with Beijing Shoushang Group Co, Ltd and the acquisition of Shaanxi Saite Guomao Department Store[18](index=18&type=chunk) [Quarterly Financial Data](index=6&type=section&id=2021%20%E5%B9%B4%E5%88%86%E5%AD%A3%E5%BA%A6%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) The company's quarterly data for 2021 shows the highest net profit attributable to parent in the fourth quarter, reaching RMB 579 million 2021 Key Quarterly Financial Data (Unit: RMB) | Indicator | Q1 | Q2 | Q3 | Q4 | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 3,455,277,792.89 | 3,119,776,017.40 | 3,006,841,246.77 | 3,171,186,367.80 | | **Net Profit Attributable to Parent** | 315,491,696.51 | 251,121,752.68 | 194,452,144.88 | 579,176,521.45 | | **Non-recurring Net Profit Attributable to Parent** | 235,668,823.86 | 222,977,571.79 | 102,754,955.24 | 381,184,029.54 | | **Net Cash Flow from Operating Activities** | 381,498,869.93 | 681,860,509.07 | 926,340,586.15 | 782,310,591.00 | [Non-recurring Gains and Losses](index=7&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) The company's non-recurring gains and losses totaled RMB 398 million in 2021, primarily from the net profit of subsidiaries in business combinations under common control 2021 Key Non-recurring Items (Unit: RMB) | Item | 2021 Amount | | :--- | :--- | | **Net profit of subsidiaries from the beginning of the period to the merger date in business combinations under common control** | 579,214,032.88 | | **Gains and losses from contingent events unrelated to the company's normal business operations** | -53,061,258.54 | | **Other non-operating income and expenses besides the above items** | 35,687,946.50 | | **Gains from changes in fair value and disposal of financial instruments** | 27,206,735.57 | | **Total** | **397,656,735.09** | [Management Discussion and Analysis](index=8&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section provides management's analysis of the company's operating results, industry landscape, and future outlook [Discussion and Analysis of Operations](index=8&type=section&id=%E4%B8%80%E3%80%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) In 2021, the company achieved strong operating results through innovative management and cost reduction despite the pandemic and restructuring pressures - The company boosted sales and efficiency by creating unique marketing IPs, opening 4 new stores, and introducing over **2,150 new brands** and **560 regional first stores**[24](index=24&type=chunk) - The company continued to promote its self-operated businesses, with progress in projects like Regalo (buyer's select shop), Faya (sports brands), and Beijing Youli (time-honored brands collection)[25](index=25&type=chunk) - The duty-free business advanced with companies established in Beijing and Hainan and a team of over 180 people, but no specific projects were operational by the end of the reporting period[25](index=25&type=chunk) [Industry Overview](index=9&type=section&id=%E4%BA%8C%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E6%89%80%E5%A4%84%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5) China's retail industry recovered steadily in 2021, showing trends of supply chain digitalization and channel diversification - The retail industry showed a divergent trend: **outlets and shopping centers recovered rapidly**, while department stores recovered slowly and supermarkets were significantly impacted by online competition[27](index=27&type=chunk) - National policies promoting the duty-free industry, combined with changing consumption patterns, created significant growth potential for the duty-free market[27](index=27&type=chunk) [Company Business Overview](index=10&type=section&id=%E4%B8%89%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5) The company's main business comprises merchandise sales and rental income, operating 74 large retail stores across 35 cities in China Overview of Main Business Segments | Format | Number of Stores | Operating Model | Revenue Source | | :--- | :--- | :--- | :--- | | **Department Store** | 38 | Mainly concessionaire | Merchandise retail sales | | **Outlet** | 14 | Mainly concessionaire | Merchandise retail sales | | **Shopping Center** | 22 | Mainly leasing | Rental income | | **Supermarket** | 15 (JV) | Mainly direct sales | Merchandise retail sales | | **Specialty Store** | 441 (incl. franchise) | Agency/Franchise | Merchandise retail sales | | **Online Business** | - | Multiple models | Online sales (over RMB 1 billion annually) | | **Duty-Free Business** | 0 (in preparation) | Licensed operation | - | [Core Competitiveness Analysis](index=11&type=section&id=%E5%9B%9B%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) Wangfujing's core competitiveness lies in its status as one of China's largest retail groups with a comprehensive portfolio and a 67-year history - The company is one of the largest and most diversified retail groups in China, owning well-known brands like Wangfujing Department Store, Shopping Center, Outlet, Scitech Outlet, and Yansha[30](index=30&type=chunk) - It has a vast membership system with **over 18 million members**, forming a solid performance base[30](index=30&type=chunk) - The merger with Shoushang Group expanded market share, and obtaining the duty-free license will create a **"taxed + duty-free" dual-driven model**[31](index=31&type=chunk) [Principal Business Activities](index=12&type=section&id=%E4%BA%94%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5) In 2021, the company achieved operating revenue of RMB 12.75 billion, a year-on-year increase of 10.55% [Analysis of Main Business Operations](index=12&type=section&id=%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) In 2021, operating revenue increased by 10.55% while operating costs decreased by 2.95% year-on-year Key Items from Income Statement and Cash Flow Statement | Item | Current Period (RMB) | Prior Year Period (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 12,753,081,424.86 | 11,535,553,782.42 | 10.55 | | **Operating Costs** | 7,378,722,863.39 | 7,603,285,005.18 | -2.95 | | **Financial Expenses** | 362,561,935.53 | 377,766.15 | 95,875.23 | | **Net Cash Flow from Operating Activities** | 2,772,010,556.15 | 707,893,702.71 | 291.59 | | **Net Cash Flow from Investing Activities** | 962,733,509.07 | 361,931,354.00 | 166.00 | | **Net Cash Flow from Financing Activities** | 863,768,280.55 | -2,537,665,205.59 | N/A | Main Business Performance by Format (RMB) | Format | Operating Revenue | Operating Costs | Gross Margin (%) | Revenue YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | **Department Store** | 7,109,462,753.87 | 4,469,349,698.51 | 37.14 | 9.91 | | **Shopping Center** | 2,061,167,327.11 | 1,020,425,877.78 | 50.49 | 19.79 | | **Outlet** | 1,606,931,040.82 | 486,824,177.86 | 69.70 | 30.53 | | **Supermarket** | 492,731,160.56 | 421,494,771.63 | 14.46 | 13.97 | | **Specialty Store** | 1,791,103,023.92 | 1,513,592,439.69 | 15.49 | -3.45 | - Financial expenses increased significantly by **95,875.23%** year-on-year, primarily due to lease financing costs arising from the adoption of the new lease standard[46](index=46&type=chunk) [Analysis of Assets and Liabilities](index=16&type=section&id=%E8%B5%84%E4%BA%A7%E3%80%81%E8%B4%9F%E5%80%BA%E6%83%85%E5%86%B5%E5%88%86%E6%9E%90) As of year-end 2021, total assets reached RMB 39.15 billion, an increase of 36.9% from the beginning of the year Key Items from Balance Sheet | Item | Ending Balance (RMB) | Beginning Balance (RMB) | Change (%) | Main Reason | | :--- | :--- | :--- | :--- | :--- | | **Cash and Cash Equivalents** | 14,302,816,451.19 | 9,685,646,323.51 | 47.67 | Raised supporting funds from merger and redeemed wealth management products | | **Trading Financial Assets** | 0.00 | 1,739,439,326.05 | -100.00 | Redeemed bank structured deposits and wealth management products | | **Right-of-use Assets** | 6,751,220,530.85 | 0.00 | 100.00 | Adoption of new lease standard | | **Lease Liabilities** | 7,308,549,546.04 | 0.00 | 100.00 | Adoption of new lease standard | | **Capital Reserve** | 10,088,745,543.86 | 6,512,322,143.31 | 54.92 | Raised supporting funds from merger | - As of the end of the reporting period, the company had **RMB 1.676 billion** in restricted assets, mainly comprising funds for single-purpose prepaid cards and investment properties pledged for loans[53](index=53&type=chunk) [Analysis of Industry-Specific Operational Information](index=18&type=section&id=%E8%A1%8C%E4%B8%9A%E7%BB%8F%E8%90%A5%E6%80%A7%E4%BF%A1%E6%81%AF%E5%88%86%E6%9E%90) As of year-end 2021, the company operated 74 stores with a total gross floor area of 4.34 million square meters Store Distribution by Region | Region | Number of Stores | Total GFA (million sqm) | | :--- | :--- | :--- | | **North China** | 24 | 1.15 | | **Southwest China** | 20 | 0.98 | | **Northwest China** | 14 | 0.87 | | **Central China** | 10 | 0.63 | | **Northeast China** | 3 | 0.38 | | **East China** | 2 | 0.15 | | **South China** | 1 | 0.19 | | **Total** | **74** | **4.34** | - In 2021, **4 new stores** were opened: Chengdu Wangfujing Discovery Shopping Center, Meishan Wangfujing Shopping Center, Wangfujing Outlet Pingyuan Town, and Wangfujing Outlet Ruyi Town[62](index=62&type=chunk) - The company added **11 stores** in North, Northwest, and Southwest China through the merger with Shoushang Group[62](index=62&type=chunk) [Analysis of Investment Status](index=22&type=section&id=%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) During the reporting period, the company's total external equity investment amounted to RMB 599 million - External equity investments of **RMB 599 million** were primarily used to establish duty-free, outlet, and shopping center project companies in locations such as Hainan and Beijing[63](index=63&type=chunk)[65](index=65&type=chunk) - The company completed the share-swap merger with Shoushang Group and raised supporting funds, increasing total share capital to **1,132,841,451 shares**; integration efforts have effectively enhanced market share[70](index=70&type=chunk) [Discussion and Analysis of Future Development](index=32&type=section&id=%E5%85%AD%E3%80%81%E5%85%AC%E5%8F%B8%E5%85%B3%E4%BA%8E%E5%85%AC%E5%8F%B8%E6%9C%AA%E6%9D%A5%E5%8F%91%E5%B1%95%E7%9A%84%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) Looking ahead to 2022, the company anticipates continued recovery in the domestic consumer market but faces multiple risks [Company Development Strategy](index=32&type=section&id=%E5%85%AC%E5%8F%B8%E5%8F%91%E5%B1%95%E6%88%98%E7%95%A5) The company will accelerate and enhance its "5+2" retail ecosystem, focusing on developing shopping centers and outlets while advancing its duty-free business - The core strategy is to perfect the **"5+2" retail ecosystem**, accelerating the development of shopping centers and outlets, and fully promoting the duty-free business[81](index=81&type=chunk) [2022 Business Plan](index=32&type=section&id=%E7%BB%8F%E8%90%A5%E8%AE%A1%E5%88%92) In 2022, the company plans to secure its annual profit targets and accelerate the transformation of its traditional department store format - New store preparations: **Taiyuan Outlet and Suzhou Shopping Center** are expected to officially open in 2022[83](index=83&type=chunk) - Existing project transformation: The company will focus on upgrading the **Xidan project** and the **Golden Street Shopping Center project**[83](index=83&type=chunk) [Potential Risks](index=33&type=section&id=%E5%8F%AF%E8%83%BD%E9%9D%A2%E5%AF%B9%E7%9A%84%E9%A3%8E%E9%99%A9) The company faces four main risks: operational risks from macroeconomic uncertainty, intense industry competition, management risks from expansion, and risks of underperformance in new business ventures - The company faces four major risks: **macroeconomic, industry competition, management and operational, and new business implementation**[84](index=84&type=chunk) - It is specifically noted that the duty-free business faces the risk of underperformance as projects have not yet been launched due to the recurring pandemic and stalled international travel recovery[85](index=85&type=chunk) [Corporate Governance](index=34&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86) This section details the company's corporate governance structure, practices, and information on its board and management [Overview of Corporate Governance](index=34&type=section&id=%E4%B8%80%E3%80%81%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) During the reporting period, the company strictly complied with relevant laws and regulations, continuously improving its corporate governance structure and internal control system - The company's governance structure is sound, with clear responsibilities for its authority, decision-making, and supervisory bodies, operating in compliance with regulatory requirements[87](index=87&type=chunk) - During the reporting period, the Board of Directors consisted of 13 directors (including 5 independent directors) and held 13 meetings; the Board of Supervisors consisted of 3 supervisors and held 10 meetings[88](index=88&type=chunk) [Directors, Supervisors, and Senior Management](index=38&type=section&id=%E5%9B%9B%E3%80%81%20%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E5%92%8C%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E7%9A%84%E6%83%85%E5%86%B5) This chapter discloses details on the shareholdings, remuneration, and work experience of current and former directors, supervisors, and senior management Pre-tax Remuneration of Selected Executives in 2021 (RMB 10,000) | Name | Position | Total Remuneration | | :--- | :--- | :--- | | **Du Baoxiang** | Chairman | 100.44 | | **Shang Xiping** | Director, President | 100.44 | | **Zhang Jianguo** | Executive Vice President | 90.40 | | **Du Jianguo** | Director, Vice President | 85.37 | - During the reporting period, the company appointed Wang Jian, Ren Jiangping, and Zhu Jie as Vice Presidents and Wu Jun as CFO to meet operational needs following the merger with Shoushang Group[102](index=102&type=chunk)[107](index=107&type=chunk) [Environmental and Social Responsibility](index=54&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E7%8E%AF%E5%A2%83%E4%B8%8E%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB) This section outlines the company's initiatives and performance related to environmental protection and social responsibility [Environmental Information](index=54&type=section&id=%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E6%83%85%E5%86%B5) As a retail enterprise, the company is not classified as a key pollutant-discharging unit by environmental authorities - The company is not a key pollutant-discharging unit and achieved a **CO2 emission reduction of approximately 4,322 tons** during the reporting period through energy-saving measures[135](index=135&type=chunk) [Social Responsibility Work](index=54&type=section&id=%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E5%B7%A5%E4%BD%9C%E6%83%85%E5%86%B5) The company actively fulfills its social responsibilities in areas such as business integrity, consumer protection, and employee welfare - The company adheres to business integrity and has received an **AAA credit rating** from third-party rating agencies[137](index=137&type=chunk) - During the reporting period, the company and its subsidiaries paid a total of **RMB 1.438 billion** in various taxes and fees[137](index=137&type=chunk) [Significant Matters](index=56&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section discloses significant corporate events during the reporting period, including commitments and major related-party transactions [Fulfillment of Commitments](index=56&type=section&id=%E4%B8%80%E3%80%81%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) During the reporting period, the company and relevant parties strictly fulfilled all commitments - The commitment by the controlling shareholder, BTG, to resolve horizontal competition with Shoushang Group was fulfilled through the completion of the share-swap merger in 2021[90](index=90&type=chunk)[141](index=141&type=chunk) [Significant Related-Party Transactions](index=65&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) The company engaged in several significant related-party transactions during the reporting period - Routine related-party transactions mainly involved financial services (deposits, loans) with the finance company of the controlling shareholder, BTG, as well as property leasing[160](index=160&type=chunk)[161](index=161&type=chunk)[171](index=171&type=chunk) - To facilitate the restructuring, the former Shoushang Group transferred equity in Beijing Yixing Commercial Investment and Beijing Wanfang Xidan Shopping Center to related parties[72](index=72&type=chunk)[163](index=163&type=chunk) - The company's completion of the share-swap merger with Shoushang Group and the associated fundraising constituted a major related-party transaction[174](index=174&type=chunk) [Changes in Share Capital and Shareholders](index=71&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section details changes in the company's share capital and provides an overview of its shareholder structure [Changes in Share Capital](index=71&type=section&id=%E4%B8%80%E3%80%81%20%E8%82%A1%E6%9C%AC%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) The company's total share capital underwent significant changes during the reporting period Share Capital Changes (Unit: Shares) | Item | Before Change | Change | After Change | | :--- | :--- | :--- | :--- | | **Restricted Shares** | 0 | +155,353,430 | 155,353,430 | | **Unrestricted Shares** | 776,250,350 | +201,237,671 | 977,488,021 | | **Total Shares** | **776,250,350** | **+356,591,101** | **1,132,841,451** | - The increase in share capital was mainly due to two parts: the issuance of approximately **201 million new shares** for the share-swap merger with Shoushang Group and a private placement of approximately **155 million shares** to raise supporting funds[183](index=183&type=chunk) [Shareholders and Ultimate Controller](index=74&type=section&id=%E4%B8%89%E3%80%81%20%E8%82%A1%E4%B8%9C%E5%92%8C%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E6%83%85%E5%86%B5) As of the end of 2021, the company had a total of 97,467 common shareholders Top Five Shareholders as of the Reporting Period End | Shareholder Name | Number of Shares | Percentage (%) | Share Status | | :--- | :--- | :--- | :--- | | **Beijing Tourism Group Co, Ltd** | 372,776,396 | 32.91 | Partially restricted | | **Sanpower Group Nanjing Investment Management Co, Ltd** | 87,325,918 | 7.71 | Pledged 87,325,918 shares | | **Beijing Jingguorui State-owned Enterprise Reform and Development Fund (Limited Partnership)** | 50,454,800 | 4.45 | - | | **Chengdu Industrial Capital Holding Group Co, Ltd** | 38,449,875 | 3.39 | - | | **Beijing State-owned Capital Operation and Management Co, Ltd** | 36,668,575 | 3.24 | Restricted | - The company's controlling shareholder is BTG, and the ultimate controller is the Beijing Municipal SASAC, with no changes during the reporting period[189](index=189&type=chunk)[198](index=198&type=chunk) [Bond-related Matters](index=78&type=section&id=%E7%AC%AC%E4%B9%9D%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section provides information on the company's outstanding bonds, including credit ratings and repayment status [Bond Overview](index=78&type=section&id=%E4%B8%80%E3%80%81%E4%BC%81%E4%B8%9A%E5%80%BA%E5%88%B8%E3%80%81%E5%85%AC%E5%8F%B8%E5%80%BA%E5%88%B8%E5%92%8C%E9%9D%9E%E9%87%91%E8%9E%8D%E4%BC%81%E4%B8%9A%E5%80%BA%E5%8A%A1%E8%9E%8D%E8%B5%84%E5%B7%A5%E5%85%B7) During the reporting period, the company had one outstanding medium-term note, "19 Wangfujing Group MTN001" Outstanding Medium-Term Note Details | Bond Ticker | Code | Issue Date | Maturity Date | Bond Balance (RMB billion) | Coupon Rate (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | 19 Wangfujing Group MTN001 | 101901016 | 2019-8-2 | 2022-8-2 | 2.00 | 3.66% | - The company's first medium-term note of 2018, amounting to **RMB 500 million**, was fully repaid with principal and interest on August 20, 2021[201](index=201&type=chunk) - Shanghai Brilliance Credit Rating & Investors Service Co, Ltd assigned an **AAA rating** to both the company and its outstanding bonds, with a stable outlook[206](index=206&type=chunk) [Financial Report](index=80&type=section&id=%E7%AC%AC%E5%8D%81%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the audited financial statements for the fiscal year, including the auditor's report and key accounting policies [Auditor's Report](index=80&type=section&id=%E4%B8%80%E3%80%81%20%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) ShineWing Certified Public Accountants issued a standard unqualified audit opinion on the company's 2021 financial statements - Audit Firm: ShineWing Certified Public Accountants (Special General Partnership)[217](index=217&type=chunk) - Audit Opinion: **Standard unqualified opinion**[209](index=209&type=chunk) - Key Audit Matters: - **Revenue Recognition**: Due to its nature as a key performance indicator, there is an inherent risk of improper recognition by management - **Goodwill Impairment**: Due to the significant amount of goodwill (RMB 858 million) and the significant judgments and assumptions involved in impairment testing - **First-time Adoption of the New Lease Standard**: Due to its significant impact on multiple items in the financial statements[212](index=212&type=chunk)[213](index=213&type=chunk) [Financial Statements](index=84&type=section&id=%E4%BA%8C%E3%80%81%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section contains the consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in equity for 2021 Consolidated Balance Sheet Summary (December 31, 2021) | Item | Amount (RMB) | | :--- | :--- | | **Total Assets** | 39,150,581,109.27 | | **Total Liabilities** | 19,047,732,498.33 | | **Equity Attributable to Parent Company Owners** | 19,347,010,440.78 | Consolidated Income Statement Summary (2021) | Item | Amount (RMB) | | :--- | :--- | | **Total Operating Revenue** | 12,753,081,424.86 | | **Operating Profit** | 1,905,834,860.74 | | **Total Profit** | 1,906,307,439.56 | | **Net Profit** | 1,378,280,898.73 | | **Net Profit Attributable to Parent Company Shareholders** | 1,340,242,115.52 | [Significant Accounting Policies and Estimates](index=101&type=section&id=%E4%BA%94%E3%80%81%20%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1) This chapter details the significant accounting policies and estimates followed in preparing the financial statements, with the most important change being the adoption of the new lease standard - The company adopted the new lease standard starting January 1, 2021, and retrospectively adjusted the opening balances of retained earnings and related financial statement items[153](index=153&type=chunk)[316](index=316&type=chunk) Impact of First-time Adoption of New Lease Standard on Opening Financial Statements (Adjustment Amount, RMB) | Item | Adjustment Amount | | :--- | :--- | | **Right-of-use Assets** | +7,613,976,793.91 | | **Lease Liabilities** | +8,211,770,887.70 | | **Non-current Liabilities Due within One Year** | +895,793,013.16 | | **Prepayments** | -225,522,934.81 | | **Retained Earnings** | -1,220,843,255.60 | [Notes to Consolidated Financial Statements](index=132&type=section&id=%E4%B8%83%E3%80%81%20%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This chapter provides detailed notes and explanations for key items in the consolidated financial statements - Cash and cash equivalents at year-end were **RMB 14.30 billion**, a significant increase from the beginning of the year, mainly due to fundraising from the merger with Shoushang Group and the redemption of structured deposits[335](index=335&type=chunk) - Upon the first-time adoption of the new lease standard, the company recognized **right-of-use assets** with a carrying amount of **RMB 6.75 billion** and **lease liabilities** with a carrying amount of **RMB 7.31 billion** at year-end[389](index=389&type=chunk)[433](index=433&type=chunk) - The carrying amount of goodwill was **RMB 893 million**, primarily from the acquisition of the Springland Department Store asset group; an impairment provision of **RMB 35.03 million** was made against Regalo International Trading (Shanghai) Co, Ltd[393](index=393&type=chunk)[394](index=394&type=chunk)

2021 年第三季度报告 单位：元 币种：人民币 1 / 16 证券代码：600859 证券简称：王府井 王府井集团股份有限公司 2021 年第三季度报告 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个别及连带责任。 重要内容提示： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 本报告期 年初至报 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------|------------------|-------------------|------------------|--------------------- ...

Financial Performance - The company's operating revenue for the first half of 2021 was approximately RMB 4.69 billion, representing a year-on-year increase of 36.88% compared to RMB 3.42 billion in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2021 was approximately RMB 480.52 million, a significant increase of 10,121.86% from RMB 4.70 million in the previous year[20]. - The basic earnings per share for the first half of 2021 was RMB 0.619, compared to RMB 0.006 in the same period last year, reflecting a growth of 10,216.67%[18]. - The weighted average return on equity for the first half of 2021 was 4.093%, up from 0.041% in the previous year[18]. - The net cash flow from operating activities for the first half of 2021 was approximately RMB 799.48 million, a significant recovery from a negative cash flow of RMB 900.34 million in the same period last year[20]. - The total assets at the end of the reporting period were approximately RMB 27.29 billion, an increase of 24.04% from RMB 22.00 billion at the end of the previous year[20]. - The company's net assets attributable to shareholders decreased by 6.07% to approximately RMB 10.80 billion from RMB 11.50 billion at the end of the previous year[20]. - The company reported a total non-recurring gains and losses amounting to ¥21,869,120.88[21]. - The company reported a 15.05% increase in operating costs, reflecting the challenges in maintaining operational quality amid market pressures[40]. - The company's operating revenue reached approximately ¥4.69 billion, a 36.88% increase compared to the same period last year[40]. Business Operations - The company operates 58 large-scale retail stores with a total operating area of 3.4 million square meters across 34 cities in China[25]. - The main revenue sources include merchandise sales and rental income from functional merchants[25]. - The company has obtained duty-free operating qualifications, which will become a major business segment[24]. - The company is actively developing its online business through various digital platforms, enhancing customer engagement and service[28]. - The company aims to accelerate the transformation of its department store format to meet diverse consumer needs[30]. - The company has established a strong membership system, contributing to a solid performance platform[30]. - The company is leveraging resources from its parent group to enhance operational efficiency and create synergies[30]. - The company is focusing on expanding its shopping center and outlet formats while upgrading its department store operations[30]. - The company operates 58 chain stores, covering 34 cities across seven major economic regions in China, enhancing market scale and brand influence[31]. - The company introduced 850 new brands in its stores, including 216 regional first-store brands, which accounted for 25% of the total new brands introduced[33]. Market Conditions - In the first half of the year, GDP grew by 12.7% year-on-year, with an average growth of 5.3% over two years, indicating a steady economic recovery[32]. - The company highlighted risks related to macroeconomic conditions, industry dynamics, and operational management in its risk disclosures[6]. - The retail sector is experiencing intensified competition, particularly from e-commerce and new retail formats, which poses a risk to traditional retail operations[68]. - The company faced significant macroeconomic risks due to the COVID-19 pandemic, impacting sales and operations across its stores[68]. Strategic Initiatives - The company is actively pursuing the establishment of duty-free projects, including a joint venture for domestic duty-free operations in Hainan[36]. - The company plans to absorb and merge with Beijing Shou商 Group, raising up to ¥4 billion through a private placement of A-shares[37]. - The company is enhancing its market expansion efforts, with new shopping centers opening in Meishan and Chengdu[35]. - The company is focusing on innovative transformation strategies tailored to specific store characteristics and market conditions[34]. - The company is focusing on expanding its duty-free business and enhancing international brand collaborations following its participation in the first China International Consumer Products Expo[70]. Financial Management - The company did not distribute profits or increase capital reserves during the reporting period[4]. - The implementation of the new leasing standards resulted in a reduction of total profit by approximately RMB 64.90 million during the reporting period[19]. - The company reported government subsidies related to normal business operations amounting to ¥4,191,296.32[21]. - The company reported a net increase in cash and cash equivalents of approximately -667.03 million yuan, an improvement from -3.81 billion yuan year-on-year[48]. - The company reported a maximum daily deposit limit of approximately 2.17 billion RMB with Beijing Capital Tourism Group Financial Co., Ltd., with a year-end balance of approximately 1.88 billion RMB[100]. - The total amount of guarantees provided by the company (excluding subsidiaries) during the reporting period was ¥59,176,977.90[104]. - The total amount of guarantees (including subsidiaries) reached ¥980,423,359.83, accounting for 9.08% of the company's net assets[104]. Environmental and Social Responsibility - The company has implemented various energy-saving and environmental protection measures, including the use of LED technology and energy-efficient systems[80]. - The company actively promotes waste classification and has engaged in environmental activities such as tree planting[80]. - The company has provided support to local communities, including donations to impoverished areas[82]. - The company has maintained a commitment to sustainable development and reducing carbon emissions through various initiatives[81]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 74,653[114]. - The largest shareholder, Beijing Capital Tourism Group, holds 211,354,537 shares, representing 27.23% of total shares[116]. - The company granted stock options to 128 individuals, totaling 7,625,000 shares as part of the 2020 stock option incentive plan[118]. - The company has issued bonds with a total balance of 20 billion RMB, with interest rates ranging from 3.66% to 4.5%[122]. - The credit rating for the company's bonds is AAA, with a stable outlook as per the latest report from Shanghai New Century Credit Rating[124]. Accounting and Financial Reporting - The company’s financial statements comply with the requirements of the enterprise accounting standards, reflecting its financial status and operating results accurately[164]. - The company recognizes financial assets based on the business model and cash flow characteristics, classifying them into categories such as amortized cost and fair value[179]. - The company applies the actual interest rate method for interest income recognition on financial assets, except for those with credit impairment[180]. - The company recognizes foreign currency transactions at the spot exchange rate on the transaction date, with monetary items translated at the exchange rate on the balance sheet date[177]. - The company offsets significant internal transactions and unrealized profits in the preparation of consolidated financial statements[170].

公司代码：600859 公司简称：王府井 2021 年第一季度报告 王府井集团股份有限公司 2021 年第一季度报告 1 / 26 2021 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 26 2021 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 公司负责人董事长杜宝祥、主管会计工作负责人杜建国及会计机构负责人（会计主管人员）丁 雅丽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 | --- | --- | --- | --- | --- | |-----------------------------------------------|-------------------| ...