深圳老牌商场，三季度亏损9000多万元

Core Viewpoint - Tianhong Co., Ltd. reported a decline in revenue and net profit for the first three quarters of 2025, indicating challenges in the competitive retail environment and the impact of store closures on financial performance [1][2]. Financial Performance - For the first three quarters of 2025, the company achieved operating revenue of 8.88 billion yuan, a year-on-year decrease of 1.9% [1]. - The net profit attributable to shareholders was 62.54 million yuan, down 47.2% year-on-year [1]. - The net profit after deducting non-recurring items was 24.53 million yuan, a decline of 60.5% year-on-year [1]. - The net cash flow from operating activities was 1.117 billion yuan, down 10.0% year-on-year [1]. - In Q3 2025, the operating revenue was 2.87 billion yuan, a decrease of 2.0% year-on-year [1]. - The net profit attributable to shareholders turned from a loss of 35.51 million yuan in the same period last year to a loss of 91.23 million yuan, a significant decline of 156.9% [1]. - The net profit after deducting non-recurring items also worsened, moving from a loss of 54.24 million yuan to a loss of 102 million yuan [1]. Store Closures and Restructuring - The company reported a non-current asset disposal gain of 135 million yuan due to store closures [2]. - To optimize its store structure, the company did not renew the lease for the Tianhong store in Shenzhen and closed several other locations in Huizhou, Zhuzhou, and Jiaxing [2]. - The company adjusted the lease terms for two projects, shortening the lease period for certain locations [2]. - As of the end of the reporting period, the company operated 46 shopping centers, 54 department stores, and 100 supermarkets across 32 cities in 7 provinces/municipalities, covering a total area of approximately 4.7 million square meters [2]. Market Performance - As of October 28, the company's stock price increased by 2.56%, closing at 5.61 yuan per share, with a total market capitalization of 6.557 billion yuan [3].