YYTM(SH:600655) Xin Lang Cai Jing·2026-01-30 14:33Core Viewpoint - Yuyuan Group (豫园股份) is expected to report a net loss of approximately 4.8 billion yuan for the year 2025, marking its first loss since going public, primarily due to challenges in the real estate sector and structural changes in consumer spending [1][2]. Group 1: Financial Performance - The company anticipates a net loss attributable to shareholders of around 4.8 billion yuan for 2025, with a loss of approximately 4.7 billion yuan when excluding non-operating gains and losses [1]. - The expected losses are attributed to three main factors: asset impairment testing leading to provisions for real estate projects and goodwill, a decline in sales prices and gross margins due to ongoing adjustments in the real estate market, and structural changes in consumer spending caused by macroeconomic pressures [1]. Group 2: Industry Context - The challenges faced by Yuyuan Group reflect broader difficulties experienced by traditional enterprises in China during a period of economic transition [2]. - The real estate sector's deep adjustment is a significant contributor to the company's performance pressures, alongside various internal and external factors affecting consumer spending [2]. Group 3: Strategic Response - Yuyuan Group is committed to its "Eastern Aesthetic Life" strategy, focusing on reducing debt, optimizing financial structure, and concentrating on high-potential core industries [2]. - The company plans to enhance operational efficiency, strengthen its supply chain, and expand its global business footprint to drive growth and solidify long-term value for shareholders [2]. Group 4: Share Buyback Progress - As of January 30, 2026, Yuyuan Group has repurchased 10,800,000 shares, representing approximately 0.27746% of its total share capital, with a total expenditure of about 57.41 million yuan [3]. - The share buyback program aims to utilize a total fund of no less than 200 million yuan and no more than 300 million yuan [3].