ZBJT(SZ:000759) Mei Ri Jing Ji Xin Wen·2025-12-04 16:37Core Viewpoint - The traditional retail giant Zhongbai Group is undergoing significant restructuring by closing 30 underperforming hypermarkets, which have collectively incurred a loss of approximately 1.8 billion yuan, as part of a strategy to adapt to changing market conditions and improve operational efficiency [1][4]. Group 1: Store Closures and Financial Impact - Zhongbai Group has closed 30 hypermarkets, with 23 of these closures attributed to ongoing losses, representing 76.7% of the total closures [2]. - The closures include long-standing stores, some of which have been operational for nearly 20 years, indicating a shift in consumer behavior and market dynamics [2]. - The company anticipates a one-time loss of about 1.8 billion yuan due to these closures, which will further exacerbate its financial pressures, following reported losses of 5.28 billion yuan in 2024 and 5.80 billion yuan in the first three quarters of 2025 [4][5]. Group 2: Strategic Transformation Efforts - In response to the challenges posed by online retail and evolving consumer preferences, Zhongbai Group is actively pursuing a dual strategy of "cutting" underperforming assets while simultaneously seeking new growth opportunities [5]. - The company is reforming its supply chain and has introduced proprietary product lines, achieving sales of 328 million yuan from its private label products [5]. - Zhongbai Group is also innovating its business model by launching new discount stores and local service platforms to enhance customer engagement and retention [5]. Group 3: Company Background and Market Position - Zhongbai Group, founded in 1937, is a state-owned commercial company with a significant presence in Hubei and surrounding regions, operating over 1,600 outlets and generating annual revenues exceeding 10 billion yuan [6]. - The company has been influenced by industry peers, notably learning from the practices of the founder of the successful retail chain Pang Donglai [6].