[Current Period Performance Forecast](index=1&type=section&id=Item%20I.%20Current%20Period%20Performance%20Forecast) The company expects to turn profitable in the first half of 2025, with net profit attributable to shareholders projected between 4.5 million yuan and 6.5 million yuan; however, net profit after deducting non-recurring gains and losses is still expected to be a loss of 50 million yuan to 90 million yuan, with prior period data retrospectively adjusted to 115.4948 million yuan due to an acquisition Key Financial Data for H1 2025 Performance Forecast | Item | Current Period (Jan 1 - Jun 30, 2025) (Million Yuan) | Prior Period (Before Retrospective Adjustment) (Million Yuan) | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders of Listed Company** | Profit: 4.50 – 6.50 | Loss: 44.2746 | | **Net Profit After Deducting Non-Recurring Gains and Losses** | Loss: 50.00 – 90.00 | Loss: 185.8722 | | **Basic Earnings Per Share** | Profit: 0.00025 yuan/share – 0.00036 yuan/share | Loss: 0.0023 yuan/share | - The company completed the acquisition of 51% equity in Beijing Xinhezuo Commercial Development Co., Ltd. in April 2025, requiring retrospective adjustment of prior period financial data due to it being a business combination under common control, resulting in a retrospectively adjusted net profit attributable to parent of **115.4948 million yuan** for the prior period[3](index=3&type=chunk)[4](index=4&type=chunk) [Communication with Accounting Firm](index=1&type=section&id=Item%20II.%20Communication%20with%20Accounting%20Firm) The financial data in this performance forecast are preliminary estimates by the company's finance department and have not yet been audited by an accounting firm - The performance forecast data is unaudited by the accounting firm and represents preliminary estimates by the company[5](index=5&type=chunk) [Explanation of Performance Change](index=1&type=section&id=Item%20III.%20Explanation%20of%20Performance%20Change) The company achieved a turnaround to profitability in the current period primarily due to the continuous implementation of its 'industry + capital' dual-driven strategy, deepened synergistic development of its three main businesses, and active cost reduction and efficiency improvement measures, alongside positive impacts from non-recurring gains and losses - The company's turnaround to profitability is attributed to the continuous implementation of its **'industry + capital' dual-driven strategy**, synergistic development across its three main businesses (commercial operations, trade logistics, and commodity trade), and ongoing efforts in cost reduction and efficiency improvement[6](index=6&type=chunk)[7](index=7&type=chunk) - Non-recurring gains and losses for the current period primarily include government subsidies, fair value changes in financial assets held for trading, and debt restructuring income[7](index=7&type=chunk) [Other Relevant Information](index=2&type=section&id=Item%20IV.%20Other%20Relevant%20Information) The company reminds investors that the forecast data is a preliminary estimate, and the final accurate financial data will be subject to the officially disclosed 2025 semi-annual financial report, advising investors to monitor designated information disclosure media and be aware of investment risks - The company emphasizes that the forecast data is preliminary, with final financial figures subject to the **2025 semi-annual financial report**, and advises investors to be aware of investment risks[8](index=8&type=chunk)

Group 1 - The unmanned retail concept declined by 1.34%, ranking among the top declines in the concept sector, with notable declines in companies like Huijin Co., Shanjike Technology, and Shen Si Electronics [1][2] - Among the unmanned retail sector, 24 stocks experienced net outflows of main funds totaling 319 million yuan, with Huijin Co. leading the outflow at 168 million yuan [2][3] - The top gainers in the unmanned retail sector included Gongxiao Daji, Xinbeiyang, and Hongqi Lianchuan, with increases of 2.59%, 1.92%, and 1.28% respectively [1][2] Group 2 - The main funds saw a net inflow in stocks like Gongxiao Daji and Xin Kaipu, with inflows of 126 million yuan and 16.43 million yuan respectively [2][3] - The top stocks with significant net outflows included Huijin Co. (-17.70%), Kela Software (-2.48%), and Newland (-0.15%) [2][3] - The overall market sentiment reflected a mixed performance across various concept sectors, with silicon energy leading gains at 3.39% while the unmanned retail sector faced notable declines [2]

Summary of Key Points Group 1: Overview of Guarantees - Company provided guarantees to its subsidiaries, Zhijiang Supply Chain Logistics Co., Ltd. and Shaoyang Smart Supply Chain Logistics Co., Ltd., for loans totaling 1.432 billion yuan and 2.55 billion yuan respectively, both with a term of 15 years [1][2] - The guarantees are intended to support the construction of logistics projects, specifically the "Zhijiang Trade Logistics Park" and "Shaoyang Smart Trade Circulation Industrial Park" [1][2] Group 2: Financial Details of Subsidiaries - Zhijiang Supply Chain Logistics has total assets of 182.46 million yuan and total liabilities of 148.26 million yuan, with a net profit of 8.92 million yuan for the most recent audited period [5] - Shaoyang Smart Supply Chain Logistics has total assets of 330.05 million yuan and total liabilities of 286.77 million yuan, with a net profit of 40.47 million yuan for the most recent audited period [6] Group 3: Board and Shareholder Approvals - The company's board and shareholders approved a mutual guarantee limit of 4.3 billion yuan among the company and its subsidiaries, which includes existing and new guarantees [3] - The approval allows the company to manage guarantees without needing to convene additional board or shareholder meetings for each transaction [3] Group 4: Risk Management and Control - The company maintains effective control over its subsidiaries' operations and has a thorough understanding of their debt repayment capabilities, ensuring that the risks associated with the guarantees are manageable [7][8]

Group 1 - The company announced that its subsidiary, Zhijiang Supply Chain Logistics Co., Ltd., signed a fixed asset loan agreement with China Bank, receiving a loan of 143.2 million yuan with a term of 15 years [1] - Zhijiang Supply Chain Logistics has drawn 19.92 million yuan as of June 30, 2025, with a remaining loan principal balance of 51.94 million yuan [1] - Another subsidiary, Shaoyang Smart Supply Chain Logistics Co., Ltd., signed a loan agreement with Industrial and Commercial Bank, receiving a loan of 255 million yuan, also with a term of 15 years [1] Group 2 - The company's board approved a mutual guarantee limit of 4.3 billion yuan, with specific allocations for guarantees among subsidiaries [2] - As of July 1, 2025, the company's guarantee agreements amounted to 8 million yuan, representing 0.05% of the audited net assets attributable to shareholders [2] - The inter-subsidiary guarantee agreements totaled 2.3094 billion yuan, with actual guarantee amounts of 848.13 million yuan [2]

子公司之间互保额度为 43 亿元（本互保额度包括现有互保、原有互保的展期或者续 保及新增互保），其中公司对子公司担保 9.9 亿元，子公司对公司担保 5 亿元，子公 司对子公司担保 28.1 亿元。股东大会授权由供销大集及控股子公司法定代表人签署 办理前述担保业务涉及的互保及互保调剂具体相关合同及文件等，不再另行召开董事 会或股东大会，不再逐笔形成董事会决议或股东大会决议。授权期限自 2025 年第一 次临时股东大会审议通过本议案之日起至 2025 年年度股东大会召开之日止。详见公 司 2025 年 5 月 30 日《第十一届董事会第十二次会议决议公告》《关于申请与控股子 公司互保额度的公告》、2025 年 6 月 17 日《2025 年第一次临时股东大会决议公告》。 上述北京新合作为芷江供销商贸提供担保在公司董事会和股东大会审议通过的担保 额度范围内，无需再次提交公司董事会或股东大会审议。 股票代码：000564 股票简称：供销大集 公告编号：2025-035 供销大集集团股份有限公司 关于向芷江供销商贸物流有限责任公司与邵阳县供销商贸物流 有限公司提供担保的公告 本公司及董事会全体成员保证信息披露的内容真 ...

Core Viewpoint - After undergoing significant changes such as "removing the cap," attracting investment, and management restructuring, the company is now entering a phase of deep adjustment in its operations [2] Group 1: Business Strategy and Performance - The company reported a significant turnaround in Q1 2025, with a quarterly loss narrowing to 6.29 million, a year-on-year decrease of 95.18% [3] - The strategic focus has shifted towards three main areas: commercial operations, trade logistics, and commodity trading, with an emphasis on business restructuring [4][6] - The company is actively transforming its existing department store assets, such as the Minsheng Department Store in Xi'an, which is being repositioned as a 24-hour dual-level street mall targeting younger consumers [5] Group 2: Asset Management and Development - The company is undergoing substantial renovations of its existing retail assets, aiming to create a mixed-use environment that combines commercial and office spaces [5] - The company is also enhancing its logistics operations, managing over 700,000 square meters across five logistics parks, focusing on local agricultural products [8] - The company plans to leverage its logistics assets and retail transformations to achieve operational efficiency and improve cash flow [6][9] Group 3: Financial Challenges - Despite the strategic shifts, the company faces challenges such as asset impairment and ongoing cash flow pressures, with a reported fair value loss of 1.08 billion in 2023 and an expected loss of 1.14 billion in 2024 [7] - The company has acknowledged that its operating cash flow remains negative, primarily due to historical tax payments and debts following its restructuring [7]

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。 一、担保情况概述 供销大集集团股份有限公司（以下简称"供销大集"或"公司"）控股子公司宜 都市供销商贸物流有限公司（以下简称"宜都供销商贸"）于 2024 年 6 月与中国工商 银行股份有限公司宜都支行（以下简称"工行宜都支行"）签订《固定资产借款合同》， 约定工行宜都支行为宜都供销商贸提供 2.8 亿元的借款，借款期限为 15 年，自合同 生效之日起至 2026 年 3 月 13 日之前一次或多次提清借款，借款用于项目建设。宜都 供销商贸以其名下两处不动产使用权为该借款合同提供抵押担保，公司控股子公司北 京新合作商业发展有限公司（以下简称"北京新合作"）为该借款合同提供最高额为 2.8 亿元的连带责任保证。2025 年 6 月 27 日宜都供销商贸借款提款 800 万元，用于 支付项目进度款，本次借款提款后宜都供销商贸在工行宜都支行的借款本金余额为 9,800 万元，北京新合作为宜都供销商贸提供的实际担保金额为 9,800 万元。 股票代码：000564 股票简称：供销大集 公告编号：2025-034 供销大集 ...

Group 1 - Hainan Free Trade Port is making progress with a focus on enhancing communication with logistics companies and optimizing service processes to ensure smooth operations [1] - The establishment of the Hainan region by the company aims to integrate management of member enterprises in Hainan and Guangdong, leveraging the dual-zone strategy to explore opportunities in both Hainan Free Trade Port and the Guangdong-Hong Kong-Macao Greater Bay Area [1][2] - The company has been strategically positioning itself in Hainan since 2015, transitioning from a regional retail enterprise to a national commodity circulation service enterprise [2] Group 2 - The newly established Hainan region will create differentiated competitive advantages by utilizing the "processing value-added tax exemption" policy of the Hainan Free Trade Port, reducing costs for products entering the mainland market [3] - The company plans to expand cross-border e-commerce product categories and channels, focusing on agricultural products and fresh produce trade, while providing comprehensive services [3] - The company has accelerated capital operations, including the acquisition of a 51% stake in Beijing New Cooperation Commercial Development Co., which enhances synergies in supply chain and distribution networks [4] Group 3 - The establishment of the Hainan region is expected to leverage the advantages of the Hainan Free Trade Port policies to enhance the company's main business in trade and logistics [4] - The company aims to expand its supply chain direct procurement to international markets and explore processing business opportunities [4] - The company is positioned to drive the transformation and upgrading of commodity trade in the context of the new development pattern of domestic and international dual circulation [4]

Core Viewpoint - Company is accelerating the adjustment of its existing commercial retail sector through a dual strategy of "business format renewal + scene upgrade," which is expected to inject new momentum into its operating performance [1] Group 1: Business Format Renewal - The Minsheng Department Store on Jiefang Road is undergoing a transformation towards a "24-hour dual first-floor street block MALL," with a focus on youth-oriented renovations and the introduction of collection stores, boutique retail, and lifestyle formats [1] - The Minsheng Department Store on Luomashi is being transformed into a cultural and entertainment dining street that combines "trendy subculture + Xi'an historical culture," featuring XR cinemas, national trend brands, and intangible cultural heritage experience workshops [1] - The Wanghai International is accelerating its transition to a "boutique department store similar to a shopping center," leveraging the advantages of the Hainan Free Trade Port policy to deepen cooperation with leading brands in Hainan [1] Group 2: Operational Efficiency and Future Prospects - All three projects are enhancing operational efficiency through business format renewal and scene upgrades, while leveraging the resources of the supply and marketing system to further release asset value [1] - It is expected that by 2025, the adjusted existing commercial properties will significantly improve rental income and customer flow conversion efficiency, contributing to the company's performance growth in conjunction with policy dividends and consumption recovery trends [1]

Group 1: Company Strategy and Operations - The company aims to implement a "dual-wheel drive" strategy of "industry + capital" to achieve its strategic goals, focusing on strengthening its core businesses in commercial operations, trade logistics, and commodity trading [2] - The company plans to leverage its existing business resources and integrate with the supply chain to solidify its industrial foundation [2] - The company is developing a comprehensive ecosystem for urban and rural commodity circulation, enhancing the role of capital through industrial collaboration and integration [2] Group 2: Real Estate Investment Performance - The company reported a fair value loss of 10.8 billion CNY in 2023 and 11.4 billion CNY in 2024 due to declining real estate market prices, increased vacancy rates, and lower rental income [2] - The company's investment properties have a book fair value of 11.8 billion CNY as of the end of 2024, and future valuations will depend on market conditions and rental levels [2] Group 3: Cash Flow Challenges - The company experienced negative cash flow from operating activities in 2024 and Q1 2025, primarily due to historical debt repayments and guarantee refunds [2] - The negative cash flow in 2024 was attributed to the payment of historical tax liabilities and debts following the company's restructuring [2] Group 4: Logistics and Supply Chain Development - The company operates five logistics parks with over 700,000 square meters of operational area, focusing on local agricultural products and integrated logistics services [3] - Plans include enhancing regional logistics industry layout and developing a digital and intelligent supply chain network [3] Group 5: Retail and Commercial Asset Management - The company is transforming its retail assets through a dual strategy of "business format renewal + scene upgrading," with significant progress in key stores [4] - The company expects the revamped retail spaces to significantly enhance rental income and customer traffic, contributing to overall performance growth in 2025 [4] Group 6: Market Value Management - The company is committed to improving operational management and enhancing core competitiveness to promote reasonable growth in market value [5] - The company acknowledges that stock price fluctuations are influenced by various complex factors and emphasizes the importance of market value management [5]