小商品城拟投11亿打造义乌市场飞地 负债率降至43.38%四年分红率44.76%

Core Viewpoint - The company is accelerating the upgrade of its trade comprehensive services by investing in a new project in Hangzhou, aiming to enhance its competitive edge in the market [1][2]. Group 1: Project Development - The company’s wholly-owned subsidiary acquired a state-owned land use right in Hangzhou for 569 million yuan to develop the Yiwu Market Hangzhou project, with a total estimated investment of 1.099 billion yuan [1][2]. - The project will cover an area of approximately 13,900 square meters and will include two 14-story office buildings, with a construction period of 2 to 3 years [2]. Group 2: Business Transformation - The company has successfully transitioned from real estate to trade comprehensive services since 2020, becoming a leading player in the domestic wholesale market [1][3]. - The company’s revenue from merchandise sales and market operations reached 13.578 billion yuan in 2024, accounting for over 87% of total revenue [3]. Group 3: Financial Performance - The company’s financial condition has improved, with a decrease in the debt-to-asset ratio from 52.83% at the end of 2021 to 47.48% by the end of 2024, and further down to 43.38% by the end of Q1 2025 [4]. - Cumulatively, the company has distributed 3.665 billion yuan in dividends over the past four years, with an overall dividend payout ratio of 44.76% based on net profits of 8.189 billion yuan during the same period [4].