Core Viewpoint - Zhongbai Group is actively exploring innovative retail formats to drive transformation amid operational pressures, launching new store formats including FOODMART supermarkets and discount stores to adapt to changing consumer demands [1][4]. Group 1: New Store Formats - The first FOODMART supermarket opened on June 28, 2024, covering 1,500 square meters with a 300 square meter prepared food area, featuring local snacks and a variety of food offerings [2]. - The supermarket increased the food category's operational area from 60% to 80%, introducing local specialties and organic products to meet consumer needs [2]. - The company plans to open 3-5 additional FOODMART supermarkets in the second half of the year based on feedback from the first store [2]. Group 2: Discount Store Strategy - The newly opened Lido International Xiaobaihui discount store focuses on hard discounts across all categories, targeting community, family, and young consumer groups [3]. - Prices for daily necessities in the discount store are set 20%-30% lower than market prices, aiming to address consumer pain points with a "true low price" strategy [3]. - The discount store will serve as a testing ground for the company, with plans to establish 5 similar stores by the end of the year [3]. Group 3: Financial Performance and Operational Challenges - Zhongbai Group has faced operational pressures, with revenues declining from approximately 12.2 billion yuan in 2022 to 10.4 billion yuan in 2024, and net losses accumulating to over 1.2 billion yuan [4]. - The rise of e-commerce and changing consumer preferences have negatively impacted traditional retail formats, prompting the company to accelerate its transformation efforts [4]. - The company has implemented over ten warehouse-style store modifications, achieving growth in sales and customer traffic, and has also revamped over 40 community supermarkets [4]. Group 4: Future Strategic Directions - Zhongbai Group aims to enhance community service projects and improve service quality to meet the "quarter-hour convenience living circle" demand [5]. - The company is focusing on strategic expansion in lower-tier markets and plans to enhance its presence in the Wuhan metropolitan area [5]. - Future strategies include a "centralized procurement + regional adaptation" approach to penetrate the Wuhan market and offer consumers better value shopping options [5].