Core Viewpoint - The recent investigation involving Gao Xin Retail's CEO Li Weiping has raised concerns, but the company asserts that it does not impact its operations significantly [4][5]. Company Summary - Gao Xin Retail (06808.HK) announced that its board has been unable to contact CEO Li Weiping, who joined the company on December 1, 2025 [4]. - The company claims that the situation is unrelated to its business operations and that normal operations will be managed by Chairman Hua Yuneng during this period [4]. - Reports indicate that Li Weiping was taken by police for investigation, but Gao Xin Retail has denied these claims, stating he is currently at work [4]. Financial Performance - For the fiscal year 2026 mid-term results (ending September 30, 2025), Gao Xin Retail reported revenue of 30.502 billion RMB, a year-on-year decline of 12.1% [4]. - The company recorded a net loss of 127 million RMB, compared to a net profit of 210 million RMB in the same period last year [4]. - The decline in performance is attributed to a 12.4% decrease in core retail revenue, driven by intensified market competition and weak consumer spending, leading to an 11.7% drop in same-store sales [5]. Industry Context - The retail industry has seen increasing corruption issues, with several high-profile executives from various companies being investigated or arrested for corruption-related activities [6][7]. - The industry is undergoing significant reforms aimed at addressing these corruption issues, which may lead to short-term disruptions but are expected to enhance long-term competitiveness and consumer trust [8].
大润发母公司发布公告：无法与CEO李卫平取得联系