Group 1 - Hainan Free Trade Port officially launched its full island closure operation on December 18, marking a new regulatory model of "first line open, second line controlled" at Meilan Airport [1][3] - The first batch of imported goods benefiting from the "zero tariff" policy and exception measures included medical equipment parts from Hong Kong and aircraft parts from the United States, with a total of approximately 6,600 tax items now eligible for zero tariffs, representing 74% of the total [3] - The first batch of goods enjoying the "processing value-added tax exemption" policy successfully departed from Meilan Airport, including chocolate from a local food manufacturing company, utilizing a new intelligent customs clearance process [3]

根据公司公告披露的详细信息，这批被关闭的门店中超过七成是因为长期经营亏损且扭亏无望。闭店清单中包 括2005年开业的老店和2022年开业的新店，横跨近二十年，表明问题具有普遍性而非局限于旧模式门店。从地 域分布看，这30家门店覆盖了湖北省内多个城市，显示了业绩下滑的区域广度和深度。 短期财务阵痛是不可避免的。中百集团在公告中明确列出了关闭门店将产生的一次性损失构成，这些成本将直 接影响公司2025年全年业绩。 更为严峻的是，关店过程中还存在诸多不确定性风险。公告中特别指出，"因关店解约在具体实施过程中，存 在由此带来的业主和租户赔偿、员工补偿、资产损失以及诉讼等风险"。 近日公告显示，截至2025年11月，中百集团（维权）已累计关闭仓储大卖场30家，预计产生关店损失约1.8亿 元。今年前三季度，这家区域零售巨头营业收入同比下降19.41%，净亏损达5.80亿元。 同时，其ESG评级已滑落至行业垫底的CCC级，近期更是因违规操作被暂停军队采购资格。这些数字和事件共 同揭示了一个严峻的现实：即便经过胖东来模式调改，传统零售企业仍然深陷转型困境。 断臂求生：关店决策的财务逻辑与阵痛 中百集团关闭门店的步伐在2025 ...

Core Viewpoint - The retail sector in the A-share market has shown signs of recovery after a prolonged period of decline, driven by recent favorable policies and a shift in consumer behavior towards increased domestic demand [6][9][30]. Group 1: Market Performance - The leading retail company, Yonghui Supermarket, has seen its stock price drop nearly 70% since April 2020, prior to the recent market rally [1]. - Other retail companies, such as Dongbai Group, have also experienced stagnant performance, with many retail stocks recently showing significant gains, including multiple trading halts due to price increases [3][9]. Group 2: Policy Support - Recent government policies emphasize the importance of domestic demand and consumer spending, with the central economic work conference prioritizing the construction of a strong domestic market [7]. - The National Development and Reform Commission has reiterated its commitment to expanding domestic demand and enhancing consumer capacity, indicating a clear intention to boost consumption [7][8]. Group 3: Economic Indicators - In the first nine months of 2025, the value added by wholesale and retail industries grew by 5.6%, maintaining a stable GDP contribution of 10.3% [11]. - Retail sales increased by 4.6%, with physical retail formats like convenience stores and supermarkets showing growth [12][13]. Group 4: Industry Challenges - The retail industry has faced unprecedented challenges, particularly from e-commerce, which has permanently shifted consumer behavior towards online shopping [18]. - Traditional retailers are experiencing rising operational costs, which are squeezing profit margins, leading to significant performance disparities among companies [18][20]. Group 5: Transformation and New Trends - The retail sector is undergoing a transformation from a focus on scale expansion to high-quality development, emphasizing customer experience over mere product sales [20][28]. - New retail formats are emerging, with companies like Hema and discount stores expanding rapidly, indicating a shift in competitive dynamics within the industry [25][27]. Group 6: Future Outlook - Despite recent positive signals, the retail sector's fundamental challenges remain, with ongoing adjustments and potential for further differentiation among companies based on their ability to adapt [30].

Core Viewpoint - The retail sector in A-shares has been underperforming for several years, but recent policy support and market enthusiasm may signal a potential turnaround for the industry [2][6][8]. Group 1: Market Conditions and Policy Support - The retail sector has seen a collective uptick recently, driven by a series of favorable policies aimed at boosting domestic consumption [6][8]. - The Central Economic Work Conference prioritized "domestic demand" as a key task, emphasizing the need to enhance consumer willingness and capacity [9][10]. - The Ministry of Commerce has redefined the retail sector's role as a crucial component in building a complete domestic demand system [11][12]. - Upcoming policies are expected to stimulate consumption, particularly in service-oriented sectors [10][13]. Group 2: Economic Indicators - From January to September 2025, the value added by wholesale and retail industries grew by 5.6%, maintaining a stable GDP contribution of 10.3% [15]. - Retail sales increased by 4.6%, with physical retail formats like convenience stores and supermarkets showing growth [16][17]. - The approaching Spring Festival is anticipated to further boost offline retail activities, contributing to a positive market sentiment [18]. Group 3: Market Behavior and Valuation - Consumer stocks have shown signs of recovery, with valuations at historically low levels; for instance, the food and beverage sector's latest P/E ratio is 20.36, at a percentile of 7.05% [19][20]. - The prolonged period of low valuations has created a technical rebound demand in the retail sector [21][22]. Group 4: Industry Challenges and Transformations - The retail industry has faced unprecedented challenges, particularly from e-commerce, which has permanently shifted consumer behavior towards online shopping [24][25][28]. - Traditional retailers are experiencing rising operational costs, which are squeezing profit margins [29]. - Performance disparities among retail companies are evident, with some struggling to adapt while others, like Bubu Gao, have seen significant revenue growth due to successful transformations [32][36]. Group 5: New Business Models and Innovations - The retail landscape is evolving, with a shift from mere product sales to enhancing customer experiences [38][39]. - Companies are increasingly focusing on operational efficiency and cost control, with strategies like closing underperforming stores and optimizing organizational structures [42][43]. - New retail formats, such as discount stores and instant retail, are emerging, intensifying competition within the sector [45][46]. Group 6: Future Outlook - The retail sector is at a crossroads, with the potential for recovery tempered by ongoing challenges from e-commerce and changing consumer behaviors [58][62]. - While leading companies may benefit from valuation rebounds, those unable to adapt may face continued difficulties [63].

证券代码：000759 证券简称：中百集团 公告编号：2025-040 中百控股集团股份有限公司 关于补选董事、变更总经理的公告 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、误导性陈述或者重大遗漏。 一、总经理辞职情况 董 事 会 2025 年 12 月 19 日 截至本公告日，汪梅方先生直接持有 150,000 股公司股份，为已授予尚未解 除限售的股权激励限制性股票，将严格按照公司《2022 年限制性股票激励计划》 规定解锁或回购注销。 汪梅方先生在担任公司总经理期间恪尽职守、勤勉履职，为推动公司改革与 发展发挥了重要作用，董事会对汪梅方先生的辛勤工作及做出的贡献表示衷心感 谢。 二、补选董事、聘任总经理的情况 公司于 2025 年 12 月 18 日召开第十一届董事会第十四次会议，审议通过了 《关于补选董事的议案》，经提名委员会任职资格审查通过，同意公司第一大股 东武汉商联（集团）股份有限公司提名李慧斌先生（简历附后）为公司第十一届 董事会董事候选人，任期自股东会审议通过之日起至本届董事会届满，股东会召 开时间另行通知。本次补选董事后，董事会中兼任公司高级管理人员以及由职工 ...

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、误导性陈述或者重大遗漏。 证券代码：000759 证券简称：中百集团 公告编号：2025-039 中百控股集团股份有限公司 第十一届董事会第十四次会议决议公告 中百控股集团股份有限公司 中百控股集团股份有限公司（以下简称"公司"）第十一届董事会第十四次 会议于 2025 年 12 月 18 日以通讯表决的方式召开。本次会议通知于 2025 年 12 月 15 日以电子邮件的方式发出。应参加表决董事 8 名，实际表决董事 8 名。参 加会议的董事符合法定人数，董事会的召集、召开及表决程序符合《公司法》及 《公司章程》的规定。会议审议通过了以下议案： 董 事 会 一、关于补选董事的议案。 表决结果：8 票同意，0 票反对，0 票弃权。 汪梅方先生因工作调整辞去公司总经理职务。根据公司发展需要，公司董事 会同意聘任李慧斌先生为公司总经理，任期自董事会审议通过之日起至本届董事 会届满。 特此公告。 表决结果：8 票同意，0 票反对，0 票弃权。 公司原董事吴乐峰先生因为永辉超市股份有限公司不再是公司 5%以上的大 股东，辞去公司第十一届董事会董 ...

Group 1 - The company Zhongbai Group (SZ 000759) announced that its 14th meeting of the 11th board of directors was held via telecommunication on December 18, 2025, to review the proposal for the re-election of directors [1] - For the first half of 2025, Zhongbai Group's revenue composition was as follows: supermarkets accounted for 91.1%, other segments for 14.46%, department stores for 2.29%, and internal offsets for -7.85% [1] - As of the report date, Zhongbai Group's market capitalization was 5.3 billion yuan [1] Group 2 - The article also discusses the Hainan Free Trade Port policy benefits, including zero tariffs, low individual income tax, relaxed investment access, free cross-border capital flow, and support for entrepreneurship [1]

中百控股公告称，公司第十一届董事会第十四次会议审议通过两项议案。一是补选董事，原董事吴乐峰 因永辉超市不再是5%以上大股东辞职，董事会同意提名李慧斌为第十一届董事会董事候选人，任期至 本届董事会届满，该议案需提交股东会审议；二是聘任总经理，汪梅方因工作调整辞职，董事会同意聘 任李慧斌为总经理，任期自审议通过起至本届董事会届满。 ...

（文章来源：证券日报） 证券日报网讯 12月17日晚间，中百集团发布公告称，公司已于近日在中国证券登记结算有限责任公司 深圳分公司办理完毕7名激励对象持有的111000股限制性股票回购注销手续，回购资金来源为自有资 金，回购后公司总股本由662574590股变更为662463590股。 ...

Group 1 - The A-share market saw a significant rise in retail stocks, with companies like Central Plaza, Yimin Group, Shanghai Jiubai, Lihua Co., and Baida Group hitting the daily limit up [1] - The Central Economic Work Conference emphasized that expanding domestic demand will be the top priority for next year, addressing the recent slowdown in consumption and investment growth [1] - The government plans to focus on structural changes in consumption and will work on boosting both supply and demand to stimulate consumption [1] Group 2 - Central Plaza's stock increased by 10.12%, with a total market value of 5.281 billion [2] - Yimin Group's stock rose by 10.11%, with a market capitalization of 5.165 billion [2] - Dongbai Group's stock saw a rise of 6.70%, with a market value of 15.5 billion, marking a year-to-date increase of 158.30% [2]