证券代码：600857 证券简称：宁波中百 编号：2025-027 宁波中百股份有限公司 关于 2025 年第三季度经营数据的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 本公司根据《上海证券交易所上市公司自律监管指引第 3 号--行业信息披露》、《关 于做好主板上市公司 2025 年第三季度报告披露工作的重要提醒》等规定的要求，现将 2025 年第三季度门店变动情况及主要经营数据披露如下： 一、报告期内公司无门店变动情况 二、报告期内公司无拟增加门店情况 三、报告期内主要经营数据情况 1、主营业务分行业情况 2、主营业务分地区情况 单位：元 币种：人民币 | 地区 | 营业收入 | 营业收入比上 年增减（%） | 毛利率（%） | 毛利率同比增减 | | | --- | --- | --- | --- | --- | --- | | 浙江地区 | 378,492,266.33 | -46.01 | 10.53 | 增加 4.63 | 个百分点 | | 合计 | 378,492,266.33 | -46.01 | 10 ...

Group 1 - Chongqing Department Store reported a revenue of approximately 11.63 billion yuan for the first three quarters of 2025, a year-on-year decrease of 10.56% [1] - The net profit attributable to shareholders of the listed company was approximately 991 million yuan, an increase of 7.38% year-on-year [1] - Basic earnings per share were 2.26 yuan, reflecting a year-on-year increase of 6.96% [1] Group 2 - As of the report, the market capitalization of Chongqing Department Store is 12 billion yuan [2]

Core Viewpoint - Ningbo Zhongbai announced that there were no changes in store numbers and no plans to increase stores in the third quarter of 2025. The company reported a significant decline in revenue and provided insights into its performance metrics [1]. Financial Performance - The main business revenue for the reporting period was 378 million yuan, representing a year-on-year decrease of 46.01% [1]. - The gross profit margin was 10.53%, which is an increase of 4.63 percentage points compared to the previous year [1]. Segment Analysis - In terms of industry, both the commercial sector and department store retail generated revenue of 378 million yuan, with a year-on-year decline of 46.01% and a gross profit margin of 10.53%, reflecting a 4.63 percentage point increase [1]. - Regionally, revenue from the Zhejiang area was also 378 million yuan, showing a year-on-year decrease of 46.01%, with a gross profit margin of 10.53%, which is an increase of 4.63 percentage points [1].

Core Points - The article highlights the issue of false advertising targeting elderly consumers in the pharmaceutical and health product sectors, particularly through new marketing methods like private domain live streaming [1][2][3] Group 1: Case Summaries - The Beijing Kao Century Department Store was found guilty of false advertising by promoting ordinary eggs as "selenium-rich eggs" and falsely claiming that a product called "black maca" was produced by a reputable brand, violating consumer rights and privacy [1][2] - A case involving Ahuan Network Technology (Suzhou) Co., Ltd. revealed that the company used private domain live streaming to promote products with unproven health claims, leading to a fine of 250,000 yuan [2] - In Anhui Province, a company was penalized for misleading elderly consumers through health lectures and exaggerated claims about a product's effectiveness, resulting in a fine of 200,000 yuan [3] Group 2: Regulatory Actions - The market regulatory authorities have mandated the cessation of illegal activities and imposed fines on the companies involved, reflecting a crackdown on deceptive marketing practices targeting vulnerable populations [2][3] - The enforcement actions demonstrate a growing concern over the exploitation of elderly consumers' health anxieties and their limited ability to discern accurate information [2]

Core Insights - The Ministry of Commerce and five other departments have issued the "Urban Commercial Quality Improvement Action Plan" aimed at enhancing the quality of urban commercial environments [1] Group 1: Commercial Development - The plan focuses on cultivating quality business formats to meet comprehensive consumer demands [1] - It emphasizes the development of large commercial complexes in urban centers, key pedestrian streets, tourist areas, and night cultural and tourism consumption zones [1] - The initiative aims to create diverse business formats, scenes, and services to enhance international and high-quality consumption appeal [1] Group 2: Traditional Retail Enhancement - There is a commitment to upgrade and transform traditional department stores and shopping centers [1] - The goal is to create consumer platforms that are rich in product and service offerings, equipped with shopping and leisure functionalities [1] - Support will be provided for qualifying stores to become tax refund shops for departing tourists, thereby expanding inbound consumption [1]

Core Insights - Guangbai Co., Ltd. reported a significant decline in revenue and net profit for Q3 2025, with total revenue at 2.787 billion yuan, down 31.60% year-on-year, and a net loss of 30.9974 million yuan, a decrease of 159.01% compared to the same period last year [1][3] Financial Performance - The company's operating cash flow showed a net outflow of 57.4565 million yuan, a decrease of 360 million yuan year-on-year, representing a decline of 118.98% [1] - The latest asset-liability ratio stands at 43.00%, down 0.50 percentage points from the previous quarter and down 13.45 percentage points from the same period last year [3] - The gross profit margin improved to 26.31%, an increase of 3.47 percentage points from the previous quarter and 3.96 percentage points year-on-year, marking two consecutive quarters of growth [3] - Return on equity (ROE) is reported at -0.77%, a decrease of 2.06 percentage points compared to the same period last year [3] - The diluted earnings per share are -0.04 yuan, down 157.14% year-on-year [3] - Total asset turnover ratio is 0.34 times, a decrease of 0.08 times year-on-year, while inventory turnover ratio is 8.33 times, down 19.68% from the previous year [3] Shareholder Structure - The number of shareholders is reported at 34,300, with the top ten shareholders holding 478 million shares, accounting for 68.22% of the total share capital [3] - The largest shareholder is Guangzhou Lingnan Tourism Investment Group Co., Ltd. with a holding of 28.5% [3]

Core Viewpoint - The article discusses the enforcement actions taken by market regulatory authorities in various regions of China against companies engaging in false advertising and misleading promotions targeting elderly consumers, particularly in the health and wellness sector [1]. Group 1: Case Summaries - Beijing Kao Century Department Store was found guilty of falsely advertising regular eggs as "selenium-rich eggs" and misrepresenting a product's origin and benefits, leading to a fine of 120,400 yuan [2][3]. - A-Huan Network Technology (Suzhou) Co., Ltd. was penalized for promoting health products with unproven disease treatment claims, resulting in a fine of 250,000 yuan [5][6]. - Chuzhou Yueqiang Medical Consulting Co., Ltd. was fined 200,000 yuan for exaggerating the effects of a health product in its promotions [9][10]. - Dongxiang District Bingxiu Daily Chemical Products Store was fined 200,000 yuan for making unsubstantiated health claims about its products [12][13]. - Guan County Yixin Convenience Supermarket was fined 60,000 yuan for misleading advertising of ordinary food products as having extensive health benefits [15][16]. - Guangzhou Kang'ermei Health Information Consulting Co., Ltd. faced a fine of 250,000 yuan for falsely claiming that its health products could treat diseases [18][19]. - Sichuan Ruikang Home Health Management Co., Ltd. was fined 16,000 yuan for promoting a health product with unverified disease treatment claims [21][22]. Group 2: Legal Basis and Penalties - The actions taken against these companies were based on violations of the Anti-Unfair Competition Law, the Advertising Law, and the Consumer Rights Protection Law, with penalties including fines and orders to cease illegal activities [3][6][10][13][19][22]. - The fines imposed varied by case, with amounts ranging from 16,000 yuan to 250,000 yuan, reflecting the severity of the violations and the potential harm to consumers [3][6][10][13][19][22]. Group 3: Analysis of Cases - The cases highlight a trend of targeting elderly consumers, who may have limited ability to discern misleading information, through deceptive marketing practices [4][7][11][14][20][23]. - The enforcement actions serve as a deterrent to other businesses, aiming to protect consumer rights and maintain market order, particularly in the health and wellness sector [4][7][11][14][20][23].

Core Viewpoint - The equity change involves an internal asset restructuring among shareholders and does not trigger a takeover offer for Chongqing Department Store Co., Ltd [2] Group 1: Equity Change Overview - The equity change is part of a plan by Chongqing Yufu Capital Operation Group Co., Ltd to transfer 25.32% of its shares in the company to Chongqing Yufu Holding Group Co., Ltd, which will result in Yufu Holding directly holding 26.35% of the company's shares [3][4] - The company remains without a controlling shareholder or actual controller after the equity change [2][7] Group 2: Progress of Equity Change - On November 28, 2024, a free transfer agreement was signed between Yufu Capital and Yufu Holding, transferring 100% of the shares of Chongqing Yufu Huamao State-owned Asset Management Co., Ltd, which holds 1.03% of the company's shares [4][5] - The merger of Yufu Huamao into Yufu Holding has been completed, and the relevant market entity registration procedures have been finalized [5] Group 3: Impact on Company Operations - The equity change will not affect the company's main business operations, which include department stores, supermarkets, electronics, and automotive trade [6] - The company will continue to operate without a controlling shareholder, with Yufu Holding and Yufu Xinchuang Commercial Management Co., Ltd acting as concerted parties [7] Group 4: Commitments and Future Matters - Yufu Xinchuang will continue to fulfill the commitments made by Yufu Capital regarding the merger with Chongqing Commerce Group Co., Ltd [8] - The equity change does not trigger a mandatory takeover offer according to relevant regulations [9]

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].

Core Viewpoint - Nanning Department Store (600712.SH) reported a significant decline in both revenue and net profit for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The total operating revenue for the first three quarters reached 389 million yuan, representing a year-on-year decrease of 8.46% [1] - The net profit attributable to shareholders was 290,600 yuan, showing a substantial year-on-year decline of 94.84% [1] - The basic earnings per share were reported at 0.0005 yuan [1]