武商集团股份有限公司 2025 年半年度报告全文 第一节重要提示、目录和释义 公司董事会及董事、高级管理人员保证半年度报告内容的真实、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。 公司负责人潘洪祥、主管会计工作负责人朱曦及会计机构负责人(会计主 管人员)王莹声明：保证本半年度报告中财务报告的真实、准确、完整。 1 所有董事均已出席了审议本次半年报的董事会会议。 武商集团股份有限公司 2025 年半年度报告全文 公司在第三节管理层讨论与分析中简要介绍了公司 2025 年半年度完成的 各项工作及面临的风险和应对措施。本报告中涉及未来计划等前瞻性陈述不 构成公司对投资者的实质承诺，敬请投资者注意投资风险。 武商集团股份有限公司 2025 年半年度报告 【2025.8】 公司下属子公司开发的时代花园房地产项目属还建房项目，由政府回购， 用于武锅生活区改造项目中被征收人的产权调换安置房。目前向安置居民交 房工作尚未完结。除该项目外公司无其他房地产业务土地储备，故房地产市 场的变化对公司安置房项目无重大影响。 公司经本次董事会审议通过的利润分配预案为：以 749,904,031 为 ...

（文章来源：证券日报） 证券日报网讯武商集团8月26日在互动平台回答投资者提问时表示，公司投资的购物中心项目均已履行 了信息披露义务，投资总额详见相关公告。 ...

Core Viewpoint - The company is enhancing its self-operated direct investment across multiple formats and brands, focusing on creating a comprehensive industrial ecosystem through various projects [1] Group 1: Business Development - The company is launching its first self-operated gold and jewelry street, "Yuejin Street," which integrates research and development, exhibition and sales, and cultural experiences [1] - New self-operated projects such as small restaurants, high-end cosmetics, WS Dreamland (mini), and new energy vehicles are being opened, achieving good results [1]

Market Performance - The primary economic sector rose by 0.76% compared to the previous trading day, with *ST Yanzhen leading the gains [1] - The Shanghai Composite Index closed at 3868.38, down 0.39%, while the Shenzhen Component Index closed at 12473.17, up 0.26% [1] Stock Highlights - *ST Yanzhen closed at 27.29, up 5.00% with a trading volume of 15,500 and a transaction value of 42.0171 million [1] - Other notable stocks include: - Tingwai Rongmi at 16.67, up 4.51% with a trading volume of 148,900 and a transaction value of 245 million [1] - Kairun Co., Ltd. at 23.43, up 4.18% with a trading volume of 48,500 and a transaction value of 113 million [1] - Wushang Group at 11.52, up 1.23% with a trading volume of 405,700 and a transaction value of 459 million [1] Capital Flow Analysis - The primary economic sector experienced a net outflow of 136 million from main funds, while retail investors saw a net inflow of 154 million [2] - The capital flow for individual stocks shows: - Wushang Group had a net inflow of 23.7578 million from main funds, but a net outflow of 17.1747 million from speculative funds [3] - Yimin Group had a net inflow of 12.2702 million from main funds, with a net outflow of 3.8982 million from speculative funds [3] - *ST Yanzhen had a net inflow of 3.6343 million from main funds, with a net outflow of 4.1877 million from retail investors [3]

Core Viewpoint - The company acknowledges a recent decline in retail sales growth despite an overall increase in consumer confidence and spending, and it is actively implementing various strategies to enhance its business performance and stimulate consumption [1] Group 1: Consumer Data and Market Trends - According to the National Bureau of Statistics, the retail sales growth rate in July decreased by 1.1 percentage points compared to the previous month [1] - The company is focusing on innovative marketing strategies and event-driven economic models to boost consumer engagement [1] Group 2: Company Initiatives - The company is preparing for the 66th anniversary celebration and is launching various promotional events such as "Red Five Festival" and "Home Appliance Trade-in" [1] - The company is exploring a "zero-interest installment" model to create a comprehensive marketing matrix [1] - The company is actively developing the Wuhan 2025 World Garden Expo sub-venue and hosting events like the "2025 Sino-French Summer Solstice Music Day" and the "First Watch Festival" [1]

Group 1 - The core viewpoint of the news is that Wushang Group's recent financial performance shows a decline in total revenue but an increase in net profit, indicating potential resilience in profitability despite revenue challenges [1] - As of August 25, 2025, Wushang Group's stock closed at 11.38 yuan, with a trading volume of 366,900 hands and a transaction amount of 416 million yuan [1] - The company's latest quarterly report indicates total revenue of 1.787 billion yuan, a year-on-year decrease of 8.62%, while net profit attributable to shareholders was 143 million yuan, a year-on-year increase of 2.85% [1] Group 2 - Wushang Group has made investments in 33 companies and participated in 508 bidding projects, showcasing its active engagement in the market [2] - The company holds 1,441 trademark registrations and 4 patents, indicating a focus on intellectual property [2] - Wushang Group has 146 administrative licenses, reflecting its compliance and operational capabilities [2]

（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：公司半年度业绩出现明显的下滑是什么原因？ 武商集团（000501.SZ）8月25日在投资者互动平台表示，武商集团2025年半年度报告将于2025年8月27 日披露。请以公司信息披露数据为准。 ...

Group 1 - The core viewpoint of the news is that Wushang Group's stock has shown fluctuations in price and trading volume, with a notable increase in stock price year-to-date and recent declines in the short term [1][2] - As of August 25, Wushang Group's stock price was 11.50 CNY per share, with a market capitalization of 8.843 billion CNY and a trading volume of 3.01 billion CNY [1] - The company has experienced a year-to-date stock price increase of 12.03%, with a 4.80% decline over the last five trading days [1] Group 2 - Wushang Group's main business segments include retail sales (83.22%), supplementary income (14.08%), and real estate (2.70%) [1] - The company operates in the general retail sector, specifically in the department store category, and is associated with various concept sectors such as outdoor camping and low-altitude economy [2] - As of March 31, the company reported a revenue of 1.787 billion CNY for Q1 2025, a year-on-year decrease of 8.62%, while the net profit attributable to shareholders was 143 million CNY, reflecting a year-on-year increase of 2.85% [2] Group 3 - Wushang Group has distributed a total of 1.708 billion CNY in dividends since its A-share listing, with 303 million CNY distributed over the last three years [3] - As of March 31, 2025, the number of shareholders increased by 13.26% to 42,800, while the average circulating shares per person decreased by 11.71% to 17,948 shares [2][3] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 27.76 million shares, an increase of 14.68 million shares compared to the previous period [3]

Core Viewpoint - Wushang Group's stock price has experienced a decline of 6.86% this week, closing at 11.27 yuan, despite reaching a near one-year high of 12.99 yuan earlier in the week [1] Company Announcements - Wushang Group successfully issued 360 million yuan of its first medium-term note for 2025, with a coupon rate of 2.20% [1] - The details of the bond issuance are as follows: - Bond name: 25 Wushang MTN001 - Bond code: 102583564 - Issuance amount: 360 million yuan - Maturity: 3 years - Face value per unit: 100 yuan - Purpose of raised funds: To repay interest-bearing debts - Lead underwriter: China Merchants Bank Co., Ltd. - Co-lead underwriter: Bank of Communications Co., Ltd. - Fund receipt date: August 21, 2025 [1] - The company has received a registration notice from the China Interbank Market Dealers Association, approving a registered amount of 1.5 billion yuan for medium-term notes, valid for 2 years [1]

Core Viewpoint - The company emphasizes the significant differences in market environment, development stages, and business models between domestic and international retail enterprises, highlighting the impact of industry cycles, market sentiment, and profit expectations on stock prices [1] Group 1: Business Strategy - The company is focused on "guarding integrity and innovating" to activate growth potential, with notable results from core initiatives [1] - The company is enhancing its retail business by upgrading its business model to address the homogenization issues of traditional department stores, introducing flagship stores and exclusive products to create a competitive edge [1] - The company is implementing a "Four Optimizations" plan to reconstruct consumer service standards and is leveraging cultural events to enhance the value of offline experiences [1] Group 2: Growth Initiatives - The company has established the Wushang Fund to explore emerging sectors and reserve quality projects [1] - The company is advancing its digital transformation and information technology initiatives [1] - The company has successfully launched key projects such as duty-free shops and WS Jiangtun member stores, while also seizing economic opportunities through reform and innovation [1] Group 3: Financial Performance - As of June 30, 2025, the company's market value has increased by 35.31% year-on-year [1]