Group 1 - The A-share tax refund store sector has shown a continuous rise, with Maoye Commercial reaching the daily limit increase [2] - Hangzhou Xie Bai previously hit the daily limit, while Bai Da Group increased by over 5% [2] - Other stocks such as Guangbai Co., Hebai Group, Yuyuan, Bailian Group, and New World also experienced gains [2]

Core Viewpoint - The company, Guangbai Co., Ltd., forecasts a net loss of 80 million to 105 million yuan for the year 2025, indicating significant challenges in the retail sector due to structural changes in consumer markets and the accelerated transformation of online retail models [1] Group 1: Financial Performance - The expected net profit attributable to shareholders for 2025 is projected to be a loss between 80 million and 105 million yuan [1] - The net profit after deducting non-recurring gains and losses is also anticipated to be a loss in the same range of 80 million to 105 million yuan [1] Group 2: Market Dynamics - The company attributes its performance decline to structural changes in the consumer market and the rapid restructuring of online retail, which have negatively impacted sales in its department store categories, particularly in apparel [1] Group 3: Strategic Adjustments - In response to market changes, the company is adjusting its business layout by strategically exiting from some low-efficiency stores [1] - Resources are being concentrated on upgrading flagship stores in core business districts and optimizing services [1] - The company is actively expanding into new business formats such as duty-free stores and is fully advancing its digital transformation, which is expected to lead to short-term declines in revenue and profit but aims to establish a more sustainable profit model in the long run [1]

2、预计的业绩：☑ 亏损 □扭亏为盈 □同向上升 □同向下降 证券代码：002187 证券简称：广百股份 公告编号：2026－001 广州市广百股份有限公司 2025 年度业绩预告 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。 一、本期业绩预计情况 1、业绩预告期间： 2025 年 1 月 1 日至 2025 年 12 月 31 日。 | 项目 | | 本报告期 | | 上年同期 | | | --- | --- | --- | --- | --- | --- | | 归属于上市公司 股东的净利润 | 亏损：8,000 | 万元–10,500 | 万元 | 盈利：4,760.81 | 万元 | | 扣除非经常性损 益后的净利润 | 亏损：8,000 | 万元–10,500 | 万元 | 盈利：1,881.15 | 万元 | | 基本每股收益 | 亏损：0.11 | 元/股–0.15 | 元/股 | 盈利：0.07 | 元/股 | | 营业收入 | 335,000 | 万元–345,000 | 万元 | 552,847.51 | 万元 | | 扣除后营业收入 | ...

广百股份公告，预计2025年度归属于上市公司股东的净利润为亏损8000万元–1.05亿元，上年同期为盈 利4760.81万元。扣除非经常性损益后的净利润为亏损8000万元–1.05亿元，上年同期为盈利1881.15万 元。营业收入预计为33.5亿元–34.5亿元，上年同期为55.28亿元。预计的业绩变动主要由于消费市场的 结构性变化、线上零售模式的加速重构，影响公司百货业态的服饰等品类销售。公司主动因应市场变化 调整业务布局，对个别低效门店实施战略性退出，将资源集中投入到核心商圈旗舰店的场景升级与服务 优化之中，大力拓展免税店等新业态，全面推进数智化转型，在短期内导致公司营收规模和利润下降。 ...

Core Insights - The "street vendor economy" sector experienced a decline of 1.02% on January 27, with Shanghai Jiubai leading the drop [1] - The Shanghai Composite Index closed at 4139.9, up 0.18%, while the Shenzhen Component Index closed at 14329.91, up 0.09% [1] Market Performance - The following stocks in the street vendor economy sector showed significant price movements: - Zhuhai Zhongfu (000659) closed at 4.93, up 10.04% with a trading volume of 770,900 shares and a turnover of 357 million yuan [1] - Jihong Co. (002803) closed at 20.15, up 3.39% with a trading volume of 159,500 shares and a turnover of 316 million yuan [1] - Jiangling Motors (000550) remained unchanged at 18.41 with a trading volume of 73,600 shares and a turnover of 135 million yuan [1] Capital Flow - The street vendor economy sector saw a net outflow of 775 million yuan from institutional investors, while retail investors contributed a net inflow of 605 million yuan [2] - The following stocks had notable capital flows: - Zhuhai Zhongfu (000659) had a net inflow of 73.81 million yuan from institutional investors, but a net outflow of 49.64 million yuan from retail investors [3] - Xiaoshangpin City (600415) experienced a net inflow of 21.03 million yuan from institutional investors, with a net outflow of 36.95 million yuan from retail investors [3]

Core Viewpoint - The event "Crossing Mountains and Seas: Silk Road Encounter - 'Belt and Road' National Characteristic Commodity Exhibition" held in Guangzhou aims to promote the unique products of Belt and Road countries while enhancing the international presence of local brands, contributing to the construction of Guangzhou as an international consumption center [1][11]. Group 1: Strategic Partnerships - A strategic cooperation framework agreement was signed between Guangbai Co., Ltd. and Qingdao Shanghai Cooperation International Trade Co., Ltd., aiming to leverage each other's brand influence and core advantages in cultural and commercial tourism [4]. - The partnership will focus on deepening domestic and international trade linkages, expanding overseas sales channels for "Guang goods," and exploring diverse cooperation areas such as international supply chain integration [4]. Group 2: Innovative Consumer Experience - The event features three core segments: "Theme Carnival," "Selected Commodity Exhibition," and "Cultural Salon," breaking traditional retail boundaries and offering a one-stop shopping experience for consumers [7]. - Unique cultural performances, including folk dances and live music, enhance the immersive experience, attracting young, family, and high-net-worth consumers [8]. Group 3: Contribution to National Strategy - The event aligns with the "14th Five-Year Plan" emphasizing high-level opening-up, showcasing Guangbai's commitment to promoting local brands and products globally [11]. - Selected products include the "Xinyueyou" series of Guang flavor dried fruits and the "Li Zhan Ji" watches, reflecting the unique characteristics of Lingnan culture and national trends [11]. Group 4: Cultural Dialogue and Internationalization - The exhibition serves as a modern expression of Guangzhou's historical role in the Maritime Silk Road, facilitating cultural dialogue and enhancing public understanding and friendship among different civilizations [13]. - The successful hosting of the event marks a significant step for Guangbai in international operations and responding to national strategies, contributing to the economic and cultural exchanges under the Belt and Road Initiative [13].

Core Viewpoint - The duty-free store sector has experienced a decline of 1.16%, ranking among the top declines in concept sectors, with companies like GuoBai Co., DongBai Group, and Hainan Development showing significant drops in stock prices [1]. Group 1: Market Performance - The duty-free store concept saw a net outflow of 194 million yuan in main funds today, with 22 stocks experiencing net outflows, and 6 stocks seeing outflows exceeding 30 million yuan [2]. - Hainan Development led the outflows with a net outflow of 60.64 million yuan, followed by China Duty Free Group and GuoBai Co. with net outflows of 55.33 million yuan and 48.69 million yuan respectively [2][3]. Group 2: Individual Stock Performance - Hainan Development's stock price decreased by 2.64% with a turnover rate of 8.09% and a main fund flow of -60.64 million yuan [3]. - China Duty Free Group's stock price fell by 1.04% with a turnover rate of 2.29% and a main fund flow of -55.33 million yuan [3]. - GuoBai Co. experienced a decline of 3.83% with a turnover rate of 10.54% and a main fund flow of -48.69 million yuan [3]. - Other notable declines include Caesar Travel with a drop of 2.34% and a main fund flow of -39.08 million yuan, and DongBai Group with a decrease of 3.58% and a main fund flow of -33.93 million yuan [3][4].

Market Performance - The three major A-share indices collectively rose, with the Shanghai Composite Index increasing by 0.08% to close at 4116 points, the Shenzhen Component Index rising by 0.7%, and the ChiNext Index up by 0.54%, having once surged over 1.5% during the session [1][2] - The total market turnover reached 2.61 trillion yuan, a decrease of 180.5 billion yuan compared to the previous trading day, with nearly 3100 stocks advancing [1] Sector Performance - The precious metals sector saw significant gains, with spot gold surpassing 4880 USD, leading to a surge in related stocks such as Zhaojin Mining and Chifeng Jilong Gold, both hitting the daily limit [3] - The CPO concept stocks also performed well, with companies like Huatian Technology and Tongfu Microelectronics reaching their daily limit [3] - Lithium mining stocks were active, with Shengxin Lithium Energy and others hitting the daily limit [3] - The PCB sector experienced a rise, with Dazhu CNC reaching the daily limit [3] - Conversely, the duty-free and commercial retail sectors declined, with Guangbai Co. and Yonghui Superstores leading the losses [3] - The electric grid equipment sector weakened, with Sanbian Technology dropping over 8% [3] - Coal stocks also fell, with Dayou Energy declining by over 8% [3]

Market Performance - The general retail sector increased by 0.8% compared to the previous trading day, with Xinhua Department Store leading the gains [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] Top Gainers in Retail Sector - Xinhua Department Store (600785) closed at 20.70, up 9.99% with a trading volume of 297,100 shares and a transaction value of 600 million yuan [1] - Guangbai Shares (002187) closed at 9.06, up 9.95% with a trading volume of 679,700 shares and a transaction value of 597 million yuan [1] - Kaidong International (600738) closed at 5.44, up 6.04% with a trading volume of 581,900 shares [1] Top Losers in Retail Sector - Sanjiang Shopping (601116) closed at 17.60, down 10.02% with a trading volume of 34,200 shares and a transaction value of 60.14 million yuan [2] - Dongzi Group (600693) closed at 15.41, down 2.28% with a trading volume of 685,800 shares and a transaction value of 1.061 billion yuan [2] - Zhejiang Dongri (600113) closed at 60.90, down 1.68% with a trading volume of 35,600 shares [2] Capital Flow in Retail Sector - The general retail sector saw a net inflow of 169 million yuan from institutional investors, while retail investors experienced a net outflow of 1.19 million yuan [2][3] - Guangbai Shares had a net inflow of 18.9 million yuan from institutional investors, but a net outflow of 82.07 million yuan from retail investors [3] - Yonghui Supermarket (601933) had a net inflow of 127 million yuan from institutional investors, with a net outflow of 1.26 billion yuan from retail investors [3]

Group 1 - The core viewpoint of the news is that Guangbai Co., Ltd. (SZ002187) experienced a significant stock price increase, reaching a limit up of 9.06 yuan, with a rise of 9.95% and a total market capitalization of 6.35 billion yuan on January 19, 2026 [1][2]. Group 2 - The reasons for the stock price surge include improvements in corporate governance, a significant decrease in financial expenses by 55.95% year-on-year, and the completion of performance compensation obligations, which reduced uncertainty [2]. - Despite a decline in revenue and net profit, the reduction in financial expenses has led to market expectations for future improvements [2]. - The retail sector is showing signs of recovery, with multiple stocks in the retail sector rising on January 19, contributing to a sector-wide effect that benefits Guangbai Co., Ltd. due to its focus on retail chain development and diverse business formats [2]. - There was a noticeable inflow of funds, with large orders showing a net buying status, and technical indicators suggesting a potential upward price breakout, attracting more investor attention [2].