Core Viewpoint - The company reported its Q1 2025 earnings, showing a slight decline in revenue but an increase in net profit, indicating improved profitability despite short-term revenue pressure [1]. Group 1: Financial Performance - Q1 2025 revenue was 3.267 billion yuan, a year-on-year decrease of 2.18% [1]. - Net profit attributable to shareholders was 151 million yuan, an increase of 1.22% year-on-year [1]. - Non-recurring net profit reached 134 million yuan, up 6.20% year-on-year [1]. - Gross margin for Q1 2025 was 36.25%, a decrease of 0.70 percentage points year-on-year [3]. Group 2: Operational Metrics - The company operated 46 shopping centers, 59 department stores, and 108 supermarkets across 35 cities in 7 provinces, totaling over 4.83 million square meters [1]. - Comparable store revenue was 930.4 million yuan, with new store revenue at 30.7 million yuan, showing a year-on-year decline of 2.83% for comparable stores [2]. - The rental rates for shopping centers and department stores were 92.37% and 91.87%, respectively, with sales per square meter at 1,122 yuan and 1,250 yuan [2]. Group 3: Strategic Initiatives - The company is focusing on digital transformation, with over 48 million digital members and online sales exceeding 5.7 billion yuan [4]. - The introduction of AI technologies, including the self-developed AI model, aims to enhance operational efficiency and customer interaction [4]. - The company achieved a 30.5% year-on-year increase in revenue from digital services, positioning it as a long-term growth driver [4]. Group 4: Cost Management - The company maintained a stable expense control strategy, achieving a period expense ratio of 31.12%, an increase of 0.03 percentage points year-on-year [3]. - Sales expense ratio was 27.53%, management expense ratio was 2.67%, financial expense ratio was 0.17%, and R&D expense ratio was 0.74% [3].

Group 1: Company Performance Overview - In Q1 2025, overall customer traffic increased by 13.8%, while revenue decreased by 2.18% year-on-year [1] - Shopping centers showed a revenue growth of 2.8% year-on-year, while department store revenue declined by nearly 9% [1] - Supermarket revenue decreased by 2.2%, but the decline was less significant, with a comparable store gross margin increasing by 0.7 percentage points [1] - Total expenses decreased by 2% year-on-year in Q1 2025, following a 5% reduction in total expenses for 2024 [1] Group 2: SP@CE3.0 Brand Upgrade - The SP@CE3.0 brand was launched on September 6, 2024, in Shenzhen, featuring nine lifestyle theme pavilions and a full warehouse fulfillment center [2] - The proportion of fresh and cooked food increased to 45%, while packaged food and daily necessities saw a decline [2] - Daily average customer transaction volume increased by 42% from September to December 2024, and by approximately 38% in Q1 2025 [2] - Plans for 2025 include standardizing and modifying 5 stores and partially adjusting 18 stores to enhance the SP@CE3.0 brand [2] Group 3: Transformation Directions for Shopping Centers and Department Stores - Shopping centers aim to create influential benchmark stores through product innovation, space design, and scenario operations [3] - The focus for department stores will be on urban center stores catering to upgraded consumption needs and community stores emphasizing quality-price retail [3] - Plans include opening 2 new shopping centers in Changsha and Meizhou in 2025 [4] Group 4: Development of Lingzhi Digital Technology - Lingzhi Digital Technology developed the "Bailing Bird" AI model in 2024, with continued investment in AI and algorithm research [5] - The AI model enhances customer experience and operational efficiency, contributing to a 30.5% year-on-year revenue growth in Q1 2025 [5] - The revenue increase is primarily driven by the growth of the "Xiao Huer" flexible labor platform, which integrates gig work, recruitment management, and intelligent scheduling [5] Group 5: Cash Flow and Financial Management - The decline in net cash flow from operating activities in Q1 2025 was attributed to reduced cash receipts from sales and timing issues with supplier payments [7]

Financial Performance - The basic earnings per share for Q1 2025 is 0.1292 yuan, showing a 1.25% increase compared to Q1 2024's 0.1276 yuan, but a decrease from Q1 2023's 0.1781 yuan [1] - The total revenue for Q1 2025 is 32.67 billion yuan, a decrease of 2.19% from Q1 2024's 33.4 billion yuan and a decline from Q1 2023's 33.84 billion yuan [1] - The net profit for Q1 2025 is 1.51 billion yuan, reflecting a 1.34% increase from Q1 2024's 1.49 billion yuan, but a significant drop from Q1 2023's 2.08 billion yuan [1] - The return on equity for Q1 2025 is 3.62%, an increase from 3.48% in Q1 2024, but down from 5.02% in Q1 2023 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 74,038.18 million shares, accounting for 63.37% of the circulating shares, with an increase of 2,098.22 million shares compared to the previous period [1] - The largest shareholder, AVIC Technology Co., Ltd., holds 52,088.55 million shares, representing 44.57% of the total share capital, with no change in holdings [2] - Five Dragon Trading Co., Ltd. has reduced its holdings by 2,442.90 million shares, now holding 11,688.50 million shares, which is 10.00% of the total [2] - New entrants among the top shareholders include Zhou Yuguang with 2,320.47 million shares (1.99%) and Zhang Sufen with 557.00 million shares (0.48%) [2] Dividend Policy - The company has announced that it will not distribute dividends or transfer shares this time [2]

Financial Performance - The company's operating revenue for Q1 2025 was ¥3,267,442,809.47, a decrease of 2.18% compared to ¥3,340,255,853.24 in the same period last year[6] - Net profit attributable to shareholders increased by 1.22% to ¥151,000,397.18 from ¥149,175,955.20 year-on-year[6] - The total revenue for the current period is CNY 3,267,442,809.47, a decrease of 2.17% from CNY 3,340,255,853.24 in the previous period[33] - Net profit for the current period is CNY 151,331,954.96, an increase of 1.21% compared to CNY 149,523,393.42 in the previous period[34] - The company reported a profit margin decrease of 20.55% in department stores year-on-year[22] Cash Flow and Liquidity - The net cash flow from operating activities significantly dropped by 99.34% to ¥2,733,938.40, compared to ¥415,236,687.61 in the previous year[6] - The company's cash and cash equivalents decreased from CNY 2,383,311,703.95 to CNY 346,795,865.93 during the reporting period[30] - Total cash inflow from operating activities was 5,041,092,119.42, down 5.00% from 5,306,331,810.65 in the previous period[35] - Cash outflow from operating activities increased to 5,038,358,181.02, up 2.99% from 4,891,095,123.04[35] - Cash and cash equivalents at the end of the period dropped to 248,793,784.66 from 4,883,879,979.05, a decline of approximately 94.92%[36] Assets and Liabilities - Total assets decreased by 4.20% to ¥27,115,780,869.06 from ¥28,304,086,062.17 at the end of the previous year[6] - Total liabilities decreased to CNY 22,859,683,287.09 from CNY 24,199,297,633.45, a reduction of 5.54%[32] - The total equity attributable to the parent company increased to CNY 4,249,305,515.75 from CNY 4,098,327,920.28, an increase of 3.69%[32] Operational Highlights - The company achieved a 13.8% increase in overall customer traffic, with sales reaching ¥10.06 billion, a year-on-year growth of 1.8%[14] - The company opened one new shopping center in Guixi, Jiangxi, while closing two independent supermarkets, adjusting lease terms for two stores in Shenzhen[15] - The company accelerated the upgrade of AI+ retail technology, achieving a 30.5% year-on-year increase in revenue from external business collaborations[14] - Shopping centers reported sales of CNY 391,196.97 million, with a year-on-year increase of 0.07%, while department stores saw sales of CNY 301,418.29 million, down 6.31% year-on-year[22] - Supermarket revenue was CNY 209,236.22 million, reflecting a decrease of 0.87% year-on-year, with an average revenue per square meter of CNY 1,450 and a gross margin of 23.52%, up 0.7 percentage points[23] Shareholder Information - The company had a total of 36,993 common shareholders at the end of the reporting period, with the top ten shareholders holding 44.56% of the shares[26] - Five Dragon Trading Co., Ltd. reduced its holdings by 30,679,500 shares, representing 2.62% of the total share capital, leaving it with 116,884,953 shares, or 10% of the total[28] Research and Development - Research and development expenses increased to CNY 24,173,119.58 from CNY 19,620,985.45, representing a growth of 23.06%[34] Financial Management - The company reported a decrease in financial expenses to CNY 5,676,843.60 from CNY 9,978,292.97, a decline of 43.12%[34] Governance and Compliance - The company did not undergo an audit for the first quarter report[37] - The report indicates that the company will not apply the new accounting standards starting from 2025[37] - The board of directors meeting was held on April 25, 2025[38]

证券代码：002419 证券简称：天虹股份 公告编号：2025-021 天虹数科商业股份有限公司 关于回购股份事项前十名股东及前十名无限售条件股东 持股情况的公告 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。 天虹数科商业股份有限公司（以下简称"公司"）于2025年4月14日召开第 六届董事会第三十次会议，审议通过了《关于回购公司股份的方案》，该回购方 案尚需提交公司股东大会审议。具体内容详见公司于2025年4月16日在《证券时 报》和巨潮资讯网（http://www.cninfo.com.cn）发布的2025-019号、2025-020 号公告。 根据《上市公司股份回购规则》及《深圳证券交易所上市公司自律监管指引 第9号——回购股份》等相关规定，现将公司董事会公告回购股份决议的前一个 交易日（即2025年4月15日）登记在册的公司前十名股东及前十名无限售条件股 东的名称、持股数量及持股比例情况公告如下： 1 序号 股东名称 持股数量（股） 占公司总股本 比例（%） 1 中航科创有限公司 520,885,500 44.56 2 五龙贸易有限公司 116,88 ...

证券代码：002419 证券简称：天虹股份 公告编号：2025-020 天虹数科商业股份有限公司 关于回购公司股份方案的公告 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。 重要内容提示： 1.天虹数科商业股份有限公司（以下简称"公司"）拟以自有资金或自筹资 金，自股东大会审议通过本次回购股份方案之日起 12 个月内，通过深圳证券交 易所股票交易系统以集中竞价交易方式回购公司已发行的人民币普通股股票（A 股）。本次回购股份将全部用于减少公司注册资本。本次回购股份的资金总额不 低于 1.5 亿元（含）且不超过 2 亿元（含），回购股份价格为不高于 7.54 元/ 股（未超过公司董事会通过本次回购股份决议前三十个交易日公司股票交易均价 的 150%）。具体的回购股份金额、回购股份数量以及占公司总股本比例，以回 购实施完成时或回购期限届满时实际回购的情况为准。 2.截至本公告披露日，公司未收到董事、监事、高级管理人员、控股股东、 实际控制人及其一致行动人在回购期间减持公司股份的计划。若未来前述主体拟 实施股份减持计划，公司将根据相关规定及时履行信息披露义务。 3.相 ...

证券代码：002419 证券简称：天虹股份 公告编号：2025-019 天虹数科商业股份有限公司 第六届董事会第三十次会议决议公告 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。 一、董事会会议召开情况 天虹数科商业股份有限公司(以下简称"公司")第六届董事会第三十次会议 于2025年4月14日以通讯形式召开，会议通知已于2025年4月9日以书面及电子邮 件方式发送全体董事、监事和高级管理人员。本次会议应到董事9名，实到9名。 本次会议的召开符合《公司法》、《公司章程》及《公司董事会议事规则》的有 关规定。 二、董事会会议审议情况 会议审议通过了《关于回购公司股份的方案》 1.回购股份的目的 为维护公司全体股东利益，增强投资者信心，稳定及提升公司价值，基于对 公司未来发展的信心，公司董事长肖章林先生提议公司通过集中竞价交易方式回 购部分公司股份，回购的股份将用于减少注册资本，通过增厚每股收益，提升公 司长期价值。 2.回购股份符合相关条件 本次公司回购股份符合《深圳证券交易所上市公司自律监管指引第 9 号—— 回购股份》第十条规定的条件： （1）公司于 201 ...

天虹股份（002419）公告，公司拟以自有资金或自筹资金，通过深圳证券交易所股票交易系统以集中竞 价交易方式回购公司已发行的人民币普通股股票(A股)。本次回购股份将全部用于减少公司注册资本， 资金总额不低于1.5亿元(含)且不超过2亿元(含)，回购股份价格为不高于7.54元/股。回购期限为自股东 大会审议通过本次回购股份方案之日起12个月内。 ...

智通财经4月15日电，天虹股份(002419.SZ)公告称，公司拟以自有资金或自筹资金，自股东大会审议通 过回购股份方案之日起12个月内，通过深圳证券交易所股票交易系统以集中竞价交易方式回购公司已发 行的人民币普通股股票（A股）。本次回购股份将全部用于减少公司注册资本。回购股份的资金总额不 低于1.5亿元（含）且不超过2亿元（含），回购股份价格为不高于7.54元/股。 天虹股份：拟以1.5亿元至2亿元回购公司股份用于减少注册资本 ...

永辉超市承诺为库存积压的外贸企业开通"15天极速上架"绿色通道，并提供市场推广与产品升级支持。 盒马则聚焦百货品类，开放24小时入驻通道，并依托高效供应链为外贸企业提供物流支持，盒马将上 线"外贸专区"，联合开发创新商品，覆盖家居、美妆、母婴等领域。 拼多多推出"千亿扶持"计划，未来三年内拟投入资金、流量等资源超过1000亿元人民币，加码高质量电 商生态建设。该计划将加大对跨境中小商家的补贴力度，帮助跨境商家稳定生产，降本增效，应对出海 风险。 苏宁易购发布外贸优品振兴计划，为外贸企业产品内销提供极速入驻和全流程服务，通过线上线下融合 引流促销、联合定制和自营大单包销、一站式代运营等模式帮助外贸企业拓展国内市场。 美团第一时间成立专项，在"商家入驻、经营扶持、品牌打造"等方面开设绿色通道，欢迎外贸商家进驻 美团，全力支持外贸商品上线美团各业务，合力打造繁荣共赢的"内外贸一体化"生态体系，让优质外贸 商品惠及更多国内消费者。 一场商超零售企业联动，助力外贸拓内销的"破局行动"正加速推进。4月14日，记者从深圳市商务局获 悉，在商务部"内外贸一体化"政策引领下，深圳联动国内头部电商平台、零售企业，充分发挥各自优 ...