1、为进一步盘活闲置资产、优化资源配置，提高资产运营效率，合肥百货 大楼集团股份有限公司（以下简称"公司"或"本公司"）于 2025 年 2 月 13 日召开了第十届董事会第三次临时会议，以 8 票同意、0 票反对、0 票弃权审议 通过了《关于拟公开挂牌出售子公司部分闲置房产的议案》，同意子公司安徽省 台客隆连锁超市有限责任公司将其部分闲置房产通过安徽长江产权交易所进行 公开挂牌出售（以下简称"本次交易"）。 2、按照国有资产转让的相关规定，本次交易尚需履行安徽长江产权交易所 公开挂牌程序，交易对方、交易对价等相关事项尚未确定，目前无法判断本次交 易是否构成关联交易，本次交易能否成交存在不确定性。 关于拟公开挂牌出售子公司部分闲置房产的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、本次交易情况概述 3、本次交易不构成《上市公司重大资产重组管理办法》所规定的重大资产 重组。本次交易无需提交公司股东大会审议。 二、交易对方的基本情况 证券代码：000417 证券简称：合百集团 公告编号：2025—03 合肥百货大楼集团股份有限公司 3、标的资产评估情况 ...

为进一步盘活闲置资产、优化资产结构，提高公司资产运营效率，公司下属 子公司安徽省台客隆连锁超市有限责任公司拟通过公开挂牌方式出售其总部物 流园闲置房产。具体内容详见 2025 年 2 月 14 日披露在《中国证券报》《证券时 报》《上海证券报》、巨潮资讯网的《关于拟公开挂牌出售子公司部分闲置房产 的公告》。 证券代码：000417 证券简称：合百集团 公告编号：2025—02 合肥百货大楼集团股份有限公司 第十届董事会第三次临时会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 合肥百货大楼集团股份有限公司（以下简称"本公司"或"公司"）第十届 董事会第三次临时会议通知于 2025 年 2 月 11 日以专人或电子邮件形式送达各位 董事，会议于 2025 年 2 月 13 日以通讯表决形式召开。本次会议应表决董事 8 人，实际表决董事 8 人。本次会议的召开符合《公司法》及《公司章程》的有关 规定。 二、董事会会议审议情况 审议通过《关于拟公开挂牌出售子公司部分闲置房产的议案》 表决结果：赞成票【8】票，反对票【0】票，弃权票 ...

证券代码：000417 证券简称：合百集团 公告编号：2025—01 合肥百货大楼集团股份有限公司 对外投资进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 6、成立日期：2025 年 1 月 27 日 7、住所：安徽省合肥市肥西县严店镇解放东路与合铜路交口百大农产品物 流园 A 座综合楼 601 室 8、经营范围 一般项目：信息技术咨询服务；食用农产品批发；供应链管理服务；市场营 合肥百货大楼集团股份有限公司（以下简称"公司"或"本公司"）于 2024 年 10 月 29 日召开了第十届董事会第三次会议，审议通过了《关于投资设立合肥 合家兴供应链科技有限公司的议案》，同意公司与子公司安徽百大合家福连锁超 市股份有限公司（以下简称"合家福"）共同投资设立合肥合家兴供应链科技有 限公司（以下简称"合家兴供应链科技公司"），注册资本 2000 万元，其中公 司出资 1200 万元，持股 60%；合家福出资 800 万元，持股 40%。具体内容详见公 司于 2024 年 10 月 30 日披露的《第十届董事会第三次会议决议公告》（公告编 号：2024—50） ...

证券代码:000417 证券简称:合百集团 合肥百货大楼集团股份有限公司投资者关系活动记录表 编号:2025-02 | 投资者关系活动类别 | ☑特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他(请文字说明其他活动内容) | | 活动参与人员 | 国泰君安、华泰柏瑞基金管理有限公司、新华养老保险股 | | | 份有限公司、信达澳亚基金管理有限公司、磐厚动量(上 | | | 海）资本管理有限公司、浙商基金管理有限公司、建信基 | | | 金管理有限责任公司、国联基金管理有限公司、银河基金 | | | 管理有限公司、汇安基金管理有限责任公司、景顺长城基 | | | 金管理有限公司、上海呈瑞投资管理有限公司、深圳市尚 | | | 诚资产管理有限责任公司、新华资产管理股份有限公司、 | | | 中信证券股份有限公司、量度资本、财通证券、财通基金 | | 时间 | 2025 年 1 月 16、17 日 | | 地点 | 公司会议室 | | 形式 | 电话会议、线上交流 | | 上市公司接待人员 ...

Group 1: Business Development and Store Expansion - In 2024, the company opened over 100 stores in the Hefei region, focusing on a "big store leads small store" and "strong store supports weak store" mechanism [2] - The company plans to open new stores in key areas before major holidays to boost sales performance [2] - The company aims to deepen its market presence by expanding into county areas and enhancing flagship stores in 2025 [14] Group 2: Product Development and Sales Growth - The company launched 400 new product series this year, with self-owned brands seeing a sales increase of 143.63% compared to the previous year [2] - The "Afu Canteen" initiative has served over 70,000 customers, focusing on meal options and night economy activities [2] - The company’s cross-border e-commerce platform has registered over 1.6 million members and achieved 26,000 orders for children's clothing [4] Group 3: Logistics and Supply Chain Enhancements - The company’s cold chain logistics has achieved a delivery volume of 51,200 tons from January to November [4] - The Hefei Agricultural Products Logistics Park has maintained a rental rate of over 90% since its opening in September [7] - The company plans to build a 200,000-ton smart cold storage facility in the future [7] Group 4: Financial Performance and Future Planning - The company’s department store segment achieved a net profit of 57.69 million yuan in 2023, remaining a crucial part of the profit structure [14] - The company’s self-owned product sales have significantly increased, indicating strong market demand and effective product strategy [2] - Future capital expenditures will focus on logistics infrastructure, store upgrades, and investments in new business areas [4]

证券代码：000417 证券简称：合百集团 公告编号：2024—57 特此公告 合肥百货大楼集团股份有限公司 关于推举董事代行董事长职责的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 合肥百货大楼集团股份有限公司（以下简称"本公司"或"公司"）于 2024 年 12 月 27 日召开了第十届董事会第二次临时会议，审议通过了《关于推举董事 代行董事长职责的议案》。 鉴于沈校根先生已辞去公司董事长职务，新任董事长的选举工作尚需经过相 应的程序，为保证公司经营决策顺利开展及董事会正常运作，经公司董事会全体 董事共同推举，由公司董事、总经理张同祥先生代行董事长职责开展工作，代行 职责的期限自公司第十届董事会第二次临时会议审议通过之日起，直至董事会选 举产生新任董事长后自动解除。 合肥百货大楼集团股份有限公司董事会 2024 年 12 月 28 日 ...

证券代码：000417 证券简称：合百集团 公告编号：2024—56 合肥百货大楼集团股份有限公司 第十届董事会第二次临时会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、 董事会会议召开情况 合肥百货大楼集团股份有限公司（以下简称"本公司"或"公司"）第十届 董事会第二次临时会议通知于 2024 年 12 月 25 日以专人或电子邮件形式送达各 位董事，会议于 2024 年 12 月 27 日以通讯表决形式召开。本次会议应表决董事 8 人，实际表决董事 8 人。本次会议的召开符合《公司法》及《公司章程》的有 关规定。 具体内容详见 2024 年 12 月 28 日披露在《中国证券报》《证券时报》《上 海证券报》、巨潮资讯网的《关于推举董事代行董事长职责的公告》。 三、备查文件 1.与会董事通讯表决票及加盖董事会印章的董事会决议； 2.深交所要求的其他文件。 1 二、董事会会议审议情况 审议通过《关于推举董事代行董事长职责的议案》 表决结果：赞成票【8】票，反对票【0】票，弃权票【0】票，审议通过本 议案。 为保证公司经营决策顺利开展，经公司董 ...

证券代码：000417 证券简称：合百集团 公告编号：2024—55 沈校根先生在公司任职期间恪尽职守、勤勉尽责、锐意进取，为公司规范运 作、改革创新、转型发展等作出了重大贡献。在此，公司及董事会谨向沈校根先 生表示诚挚的敬意和衷心的感谢！ 特此公告 合肥百货大楼集团股份有限公司董事会 2024 年 12 月 25 日 合肥百货大楼集团股份有限公司 关于董事长辞职的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 合肥百货大楼集团股份有限公司（以下简称"本公司"或"公司"）董事会 于今日收到公司董事长沈校根先生的书面辞呈，沈校根先生因工作变动原因，申 请辞去公司第十届董事会董事长、董事、董事会战略委员会委员及召集人职务。 辞职后，沈校根先生将不再担任公司任何职务。 根据《公司法》和《公司章程》等有关规定，沈校根先生的辞职未导致公司 董事会成员低于法定人数，不会影响公司董事会正常运作，其辞职报告自送达公 司董事会时生效。截至本公告披露日，沈校根先生未持有本公司股份。公司董事 会将按照有关规定尽快完成董事、董事长及相关委员会委员的选任工作。 ...

Agricultural Business Development - The company operates 5 agricultural product trading markets, including self-built logistics parks and light-asset managed markets [1] - Zhougudui Daxing Logistics Park achieved a transaction volume of 4.72 million tons and a transaction value of 34 billion yuan in 2023, with a net profit of 164 million yuan [1] - Suzhou Baida Logistics Park achieved a transaction volume of 1.87 million tons and a transaction value of 16 billion yuan, with a net profit of 13.67 million yuan [1] - Feixi Logistics Park officially opened in September 2023 [1] - The company established an agricultural product circulation operation headquarters in the first half of 2024 to integrate resources and explore integrated operation management [1] - Zhougudui Daxing Logistics Park and Suzhou Baida Logistics Park will focus on facility updates, standardized management, and quality improvement [3] - Feixi Logistics Park is positioned as a first-class domestic agricultural product resource allocation center, emphasizing specialization, differentiation, and large-scale operations [3] - The company has developed a live-streaming matrix with 4 accounts, hosting over 870 live-streaming events from January to November 2024, with 370,000 participants and 520,000 items sold, generating nearly 30 million yuan in online sales [3] Cold Chain Logistics - The company established the Anhui Cold Chain Industry Development Alliance with 135 members to accelerate regional cold chain resource integration [3] - Zhougudui Daxing Logistics Park optimized its cold storage product structure, with a total throughput of 140,000 tons from January to November 2024 [5] - Feixi Logistics Park has built 118 small cold storage rooms with a capacity of 20,000 cubic meters and secured 154.51 acres for the second phase of cold chain logistics [5] - Hejiakang Agricultural Product Processing and Distribution Company built a 16,000 square meter multi-functional distribution center, achieving a distribution volume of 51,200 tons from January to November 2024 [5] Supermarket Business - Hejiafu Supermarket added 240 new brands from January to November 2024, with a renewal rate of 12.5% [5] - The supermarket added 42 direct-operated brands, totaling 312, and expanded its fresh produce direct procurement base to 73 [5] - The company developed 380 private label products, with sales increasing by 142% year-on-year [5] - New business models such as "Afu Fresh" and "Hejiafu Select" were launched, with the "Afu Canteen" serving over 70,000 customers since May 2024 [5] - Hejiafu Supermarket achieved a net profit of 35.63 million yuan in the first half of 2024, a year-on-year increase of 93.15% [5] Department Store Transformation - The company repositioned its department stores through strategies like "one store, one policy" and "thousands of stores, thousands of faces" [7] - The first commercial street project, Baida Yuejie Xindian Garden, opened in June 2024, serving over 12,800 households in the surrounding community [7] - Baida CBD transformed into an urban outlet, focusing on "brand + discount" combinations to meet consumer demand for high-quality and cost-effective products [7] - The department store sector introduced 209 new brands by the end of Q3 2024, with a brand renewal rate of 8%, including 21 provincial and municipal first-store brands [7]

Investment Rating - The report assigns a "Buy" rating to the company, with a target price of 8.46 CNY per share based on a 20x PE valuation for 2025 [5][3]. Core Viewpoints - HeBai Group is a leading comprehensive commercial circulation enterprise in Anhui Province, primarily engaged in retail and agricultural product wholesale, actively expanding into five new business areas: online, cross-border, cold chain, consumer finance, and emerging industries [1][2]. - The company has a strong brand influence in Anhui, operating 24 department stores, 199 supermarkets (180 direct-operated and 19 franchised), and 25 appliance stores as of H1 2024 [1][2]. - The company's revenue for H1 2024 increased by 2.02% year-on-year to 3.7 billion CNY, with revenue contributions from various segments: department stores (including appliances) at 35.95%, supermarkets at 49.62%, agricultural trading services at 8.31%, and real estate at 6.11% [1][2][4]. Summary by Sections Business Overview - HeBai Group has undergone significant transformation and expansion since its establishment in 1959, evolving from a department store to a diversified group with over 300 chain outlets [39][40]. - The company has faced challenges due to the pandemic but has shown recovery, with 2023 revenue reaching 6.688 billion CNY, a 6.13% increase from the previous year [43][44]. Retail and Agricultural Product Distribution - The company is focusing on upgrading its core retail and agricultural wholesale businesses to strengthen market competitiveness [2][3]. - The retail segment is being restructured to enhance product offerings, customer experience, and service quality, with new store formats and private label products being introduced [2][3]. Financial Forecast and Investment Recommendations - The company is expected to achieve net profits of 290 million CNY, 330 million CNY, and 400 million CNY for 2024, 2025, and 2026, respectively, reflecting growth rates of 8.0%, 15.7%, and 20.7% [3][4]. - The report anticipates a steady increase in revenue across all business segments, with significant growth expected in agricultural trading services due to new logistics facilities [148][149].