Wangfujing(SH:600859) Zheng Quan Zhi Xing·2025-07-11 13:14Core Viewpoint - Wangfujing Group Co., Ltd. expects a significant decline in net profit for the first half of 2025, projecting a net profit attributable to shareholders of between 64 million to 95 million yuan, representing a decrease of 67% to 78% compared to the same period last year [1][2]. Performance Forecast - The company anticipates a net profit of 64 million to 95 million yuan for the first half of 2025, down from 29.311 million yuan in the same period last year, indicating a reduction of 19.811 million to 22.911 million yuan [1][2]. - The expected net profit after deducting non-recurring items is projected to be between 22 million to 32 million yuan, a decrease of 28.838 million to 29.838 million yuan compared to the previous year [1][2]. Reasons for Performance Decline - The decline in performance is attributed to the company's structural adjustment phase and the transition between old and new growth drivers, as it actively responds to changing consumer trends [2][3]. - The company is undergoing adjustments in business formats and store operations, including the opening of 2 new shopping center stores and the comprehensive transformation of 2 department stores to better meet consumer demands [2][3]. - The closure of 3 stores due to expired lease contracts has led to a decrease in revenue and increased costs related to personnel placement, impacting the company's performance for the year [2][3]. - New business formats and stores are still in the cultivation phase, with revenue growth not yet sufficient to cover fixed costs, compounded by higher initial costs due to new leasing standards [3]. Strategic Focus - The company aims to balance short-term benefits with long-term development by focusing on its retail core business, accelerating the iteration of business formats, and optimizing cost structures to enhance operational efficiency [3].