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@境外旅客 离境退税“即买即退”操作指南请查收!
蓝色柳林财税室· 2025-05-23 15:29
Core Viewpoint - The article discusses the Departure Tax Refund Policy in China, which allows overseas visitors to claim a refund on Value-Added Tax (VAT) for eligible goods purchased in tax refund stores when leaving the mainland [3][4]. Summary by Sections Eligibility for Tax Refund - Overseas visitors must meet specific conditions to apply for a departure tax refund, including a minimum purchase amount of 200 RMB at the same store on the same day [4]. - The goods must not have been used or consumed, and the departure date must be within 90 days of the purchase [4]. Tax Refund Rates - Goods purchased at a tax rate of 13% are eligible for a refund rate of 11%, while those at a 9% tax rate have a refund rate of 8% [5]. Calculation of Refundable VAT - The refundable VAT amount is calculated as the total sales invoice amount (including VAT) multiplied by the applicable tax refund rate [7]. - The actual VAT refunded is the refundable VAT amount minus any service fees charged by the tax refund agency [7]. Refund Process - The refund process involves several steps: purchasing tax-refundable goods, customs verification, and applying for the refund through a tax refund agency [9][8][14]. - For amounts up to 20,000 RMB, refunds can be received in cash or via bank transfer; amounts exceeding 20,000 RMB must be refunded through bank transfer only [7]. Instant Tax Refund Policy - The "Instant Tax Refund" policy allows overseas visitors to receive an advance payment equivalent to the tax refund amount on-site at designated stores after signing an agreement and completing credit card pre-authorization [10]. - Visitors must be verified by customs upon departure and comply with the departure tax refund policy [11]. Purchase Limits - The total amount of tax-refundable goods that the same overseas visitor can apply for at the same store on the same day is capped at 222,000 RMB [16]. Tax Refund Stores - The article lists various tax refund stores in Taizhou City, which are eligible for the departure tax refund policy [17][18][19][20][21][22][23].
步步高深度报告:东山再起,步步高升
ZHESHANG SECURITIES· 2025-05-23 00:23
Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [7][13]. Core Insights - The report highlights that the company has completed its restructuring, resulting in a healthier balance sheet. The company is expected to see significant profit growth as it completes its store renovations, with sales and customer traffic exceeding expectations [2][15]. - The restructuring has led to a reduction in debt levels, with the debt-to-asset ratio decreasing from 86.8% in 2023 to 62.1% by Q1 2025. The company is projected to have cash and equivalents exceeding 1 billion yuan by the end of 2024 [2][41]. - The report anticipates that the company will complete all supermarket renovations by 2025, with sales per store expected to increase significantly post-renovation [2][65]. Summary by Sections Restructuring and Financial Health - The company has successfully restructured, becoming a non-controlling entity with the introduction of industrial investors who enhance its supply chain and digital capabilities. The management team has also undergone changes to improve efficiency [2][32][33]. - The restructuring plan includes cash settlements for debts under 100,000 yuan and equity swaps for larger debts, extending remaining debts to a 10-year term [2][39]. - The company’s cash flow situation has improved significantly, with cash and equivalents projected to return to pre-2018 levels by the end of 2024 [2][36]. Supermarket Renovation Success - The report notes that the company has already renovated 17 out of 27 supermarkets, with sales and customer traffic increasing dramatically post-renovation. The average daily sales have reportedly increased sixfold, and customer traffic has tripled [2][65]. - The renovation strategy has led to a significant change in product offerings and store environments, enhancing customer experience and employee satisfaction [2][14]. Department Store Transformation - The company is set to initiate a comprehensive renovation of its department stores in May 2024, focusing on improving employee experience and customer service [3][15]. - The department store segment is expected to contribute significantly to the company's revenue, with a projected recovery in gross margins [3][12]. Profit Forecast and Valuation - The company is expected to achieve net profits of 184 million yuan in 2025, with projections of 402 million yuan and 674 million yuan in the following years, reflecting a rapid profit release phase [4][12]. - The report provides a valuation based on comparable companies, indicating that the company is currently undervalued relative to its peers in the supermarket sector [4][12].
双安改造亮相 老百货瘦身零售找出路
Bei Jing Shang Bao· 2025-05-22 12:00
Core Viewpoint - The renovation of Shuang'an Shopping Mall aims to enhance consumer experience by introducing diverse dining and lifestyle brands while adapting to the competitive retail environment in the surrounding area [1][4][10]. Group 1: Renovation Details - Shuang'an Shopping Mall has undergone significant renovations, including a modern glass facade and a reduction in retail space in favor of dining, fitness, and lifestyle services [4][8]. - The mall now features 186 brands, with new dining options such as "He Wei Chuan" and "Xing Yun Seafood" on the fifth floor, and a sports brand zone on the third floor with brands like Fila and Adidas [4][8]. - The renovation includes the opening of a sky garden on the sixth floor and additional lifestyle brands on the third and fifth floors, enhancing the mall's functionality [4][11]. Group 2: Strategic Goals - The renovation is designed to serve the surrounding community within a 5-kilometer radius, focusing on creating a community-oriented shopping center [8][11]. - The mall's management emphasizes the importance of understanding consumer preferences and adapting the business model to meet evolving demands [9][11]. Group 3: Competitive Landscape - Shuang'an Shopping Mall faces increased competition from nearby projects like Zhongguancun Daluocheng and New Zhongguan Shopping Center, which offer diverse and modern retail experiences [10]. - The mall's strategy includes maintaining its unique identity while competing effectively in a crowded market [10][11]. Group 4: Future Plans - The mall's management indicates that the renovation process will be ongoing, with plans to adjust the underground supermarket section by the end of 2025 [11].
【零售】金银珠宝销售加速增长,国补品类持续高增——2025年4月社消零售数据点评(姜浩/梁丹辉)
光大证券研究· 2025-05-20 14:08
Summary of Key Points Core Viewpoint - The overall performance of social consumer retail sales in April 2025 shows a steady growth, with specific categories demonstrating significant variations in growth rates, indicating a mixed recovery in consumer spending [2][6]. Group 1: Social Consumer Retail Sales - In April 2025, the total retail sales of social consumer goods reached 3.72 trillion yuan, with a year-on-year growth of 5.1%, which is 0.8 percentage points lower than the previous month [2]. - For the first four months of 2025, the total retail sales amounted to 16.18 trillion yuan, reflecting a year-on-year growth of 4.7%, an increase of 0.6 percentage points compared to the same period last year [2]. Group 2: Consumer Price Index (CPI) - The CPI in April 2025 remained unchanged from March, with a year-on-year growth rate of -0.1% [2]. - In the supermarket sector, the retail sales of grain and oil products grew by 14.0% year-on-year, while beverage sales increased by 2.9%, and daily necessities saw a growth of 7.6% [2]. Group 3: Retail Performance by Category - In the department store sector, textile and clothing retail sales grew by 2.2%, while cosmetics retail sales increased by 7.2% [3]. - The gold and jewelry sector experienced a significant growth of 25.3%, with an increase of 14.7 percentage points compared to March [4]. - Home appliance retail sales surged by 38.8%, marking a 3.7 percentage point increase from the previous month [5]. Group 4: Selected Categories with High Growth - The retail sales of sports and entertainment products grew by 23.3%, while cultural and office supplies saw a growth of 33.5% [5]. - Categories such as household appliances, audio-visual equipment, and cultural office supplies maintained double-digit growth rates, with some exceeding 30% [6].
徐家汇上海六百改造遇规划调整变数:建筑指标与现行方案存显著变化,项目或面临重新设计
Shen Zhen Shang Bao· 2025-05-20 07:07
Group 1 - The company announced that the Shanghai Liubai Urban Renewal Project may face redesign due to the latest publicized planning adjustment scheme [1] - The project aims to demolish and rebuild existing structures to create a comprehensive boutique shopping center that meets modern consumer demands [1][3] - The total planned investment for the project after adjustments is 708 million yuan, with an expected increase in commercial area by 12%-24% [3] Group 2 - As of the annual report disclosure date, the company has not yet obtained the construction planning permit and construction permit, delaying the project [1] - The company will continue to strengthen communication with relevant authorities and closely monitor the approval process to push the project forward [1] - Recent public notices indicate significant changes in building indicators that may require the company to adjust the project design, investment total, and construction timeline [2][3]
数读上海丨2天销售额破2亿元,南京路商圈“大丸现象”释放哪些信号?
Sou Hu Cai Jing· 2025-05-20 06:32
Core Insights - New World Daimaru Department Store celebrated its 10th anniversary with record sales, achieving over 1 billion yuan in sales within the first four hours of the event and a total of 206 million yuan over the weekend, marking a 3% year-on-year increase [1][3] - The store attracted over 130,000 visitors during the anniversary celebration, a 6.8% increase compared to the same period last year [1] - The department store issued 50 million yuan in consumer vouchers, which successfully stimulated over 200 million yuan in sales [1] Sales Performance - In 2024, New World Daimaru Department Store reported a revenue of 2.303 billion yuan, reflecting a year-on-year growth of 2.01% [3] - The store's foot traffic reached 16.87 million, a 14.14% increase from the previous year [3] Consumer Engagement - The anniversary event saw significant consumer engagement, with many customers queuing for hours to obtain discount vouchers, highlighting the appeal of in-store shopping experiences over online alternatives [3][6] - The store's unique promotional strategies, such as offering substantial discounts and engaging shopping experiences, contributed to its popularity among consumers [3][6] Technological Integration - The department store has integrated technology into its operations, including the use of robots for customer service and interactive experiences, enhancing the shopping environment [6][5] - The introduction of a user-friendly tax refund self-service machine has improved the shopping experience for international visitors [6][9] Strategic Adjustments - The store has focused on enhancing its product offerings, particularly in beauty and luxury goods, by introducing high-end brands and optimizing store layouts to better meet consumer demands [7][8] - New World Daimaru has shifted its marketing strategy to target younger consumers, emphasizing lifestyle and experiential shopping [10][12] Market Positioning - The department store has positioned itself as a competitive player in the market, with 20% of its brands being national or regional sales champions, indicating strong market performance [12] - The store aims to continue attracting a vibrant, youthful customer base by filling market gaps and enhancing its overall shopping experience [12][13]
国货“圈粉” 入境消费增长可期
Core Insights - The article discusses the recent enhancements in China's departure tax refund policies aimed at boosting inbound tourism consumption and facilitating foreign travelers' shopping experiences [1][5]. Group 1: Departure Tax Refund Policy Enhancements - The upcoming implementation of the visa-free transit policy in July 2024 and the upgrade of the departure tax refund policy in April 2025 are expected to significantly increase the convenience for foreign travelers [1][5]. - The cash refund limit will be raised from 10,000 RMB to 20,000 RMB, and the minimum purchase amount for refunds will be lowered from 500 RMB to 200 RMB [1][5]. - The introduction of "immediate refund" services will make the refund process more straightforward and appealing to travelers [1][5]. Group 2: Growth in Departure Tax Refund Business - Wangfujing Group's department store reported a 67% increase in departure tax refund business volume in the second half of 2024 compared to the first half [2]. - During the May Day holiday in 2025, the business volume for departure tax refunds surged by 633% year-on-year, with a 147% increase from January to April 2025 [2]. - The number of stores authorized to conduct departure tax refunds has reached 26 across various cities, including Beijing, Chengdu, and Xi'an [2]. Group 3: Consumer Preferences and Trends - Foreign tourists are increasingly interested in both international brands and Chinese domestic products, with items like sunglasses, clothing, and electronic gadgets being popular choices [2][4]. - The demand for Chinese cultural products and innovative technology is rising, as evidenced by the purchases of traditional crafts and modern electronics by foreign visitors [3][4]. Group 4: Market Potential and Future Directions - The share of inbound consumption in China's GDP is currently around 0.5%, compared to 1% to 3% in major countries, indicating significant growth potential [4][5]. - The Chinese departure tax refund market is still in its developmental stage, with a need for more refund stores, especially in popular tourist cities [5]. - Recommendations include increasing the number of departure tax refund stores and enhancing the variety of products eligible for refunds, particularly those that showcase Chinese culture [5].
胖东来官网已恢复!于东来最新发文
Mei Ri Jing Ji Xin Wen· 2025-05-16 03:53
Core Insights - The official website of Pang Donglai Commercial Group, which was previously "closed," has resumed operations as of May 16 [1] - As of May 16, Pang Donglai's sales for the month are approaching 1 billion yuan, with cumulative sales exceeding 8.9 billion yuan for 2025 [2][6] Sales Performance - In April, Pang Donglai reported sales of 1.749 billion yuan, bringing the cumulative sales for the year to 8.027 billion yuan [6] - The main contributors to April's sales were supermarkets (949 million yuan), jewelry (185 million yuan), and department stores (176 million yuan), accounting for over 70% of total sales [6] - The top-performing store, Times Square, generated 443 million yuan in sales, followed by Angel City and Big Fat Store, each exceeding 200 million yuan [6] Business Structure - The core business segments of Pang Donglai include supermarkets, department stores, and jewelry, which together account for over 74.83% of total sales [6] - The tea segment alone has achieved cumulative sales of 364 million yuan for the year [6] Future Projections - Pang Donglai is projected to achieve nearly 17 billion yuan in total sales for 2024, with profits exceeding 800 million yuan [8] - The average monthly income for employees is reported to be 9,000 yuan [8] Company Transparency - The company emphasizes transparency in its operations, with the founder, Yu Donglai, stating that many aspects can be shared openly to inspire others in business [8]
百货行业上市公司加快转型步伐 多举措激活发展新动能
本报记者 桂小笋 近年来,随着消费者购物习惯的改变,百货行业面临转型升级压力。近日,《证券日报》记者在多家百 货行业上市公司的业绩说明会上与相关公司高管进行交流时了解到,百货行业上市公司正在加快转型步 伐,以多轮驱动的业务模式、调改业态等方式来提升业绩。 百货行业面临的转型压力有多大?今年4月份,中国百货商业协会、香港科技大学利丰供应链研究院共 同撰写的一份研报显示,百货行业面临的挑战包括多个方面:一是需求恢复不足,企业有调改升级的需 求,但面临投入产出不确定性矛盾;二是电商持续影响下,企业进行全域融合面临困局;三是自营业务 作为提升商品力的重要途径,面临诸多瓶颈;四是数字化转型与投入难以平衡。 "公司百货业态以兰州亚欧商厦为经营主体,地处兰州中山桥核心商圈,是集百货零售、餐饮娱乐、酒 店休闲于一体的中高端综合性商场,其调整和改善方向主要包括多个细节。"吴小波在回答《证券日 报》记者提问时介绍,具体来看,一是深挖甘肃本地商旅需求,通过数智化手段连接、触达商圈消费 者,以经营流量提升商业价值为核心,积极盘活商铺资源、优化购物动线、丰富业态品类、增加柜位坪 效。二是加强会员运营,通过一系列精准营销策略,提升会员消 ...
王府井:回购1111.8万股 使用资金总额1.5亿元
news flash· 2025-05-15 08:46
王府井(600859)公告,公司于2024年4月18日董事会审议通过股份回购方案,计划以1亿元至2亿元资 金,通过集中竞价方式回购股份,用于减少公司注册资本。截至2025年5月15日,公司累计回购1111.8 万股,占公司总股本的0.98%,回购价格区间为11.53元/股至17.15元/股,累计使用资金1.5亿元(不含交 易费用)。本次回购股份将依法予以注销,公司将于2025年5月16日在中国证券登记结算有限责任公司办 理注销手续,并及时办理相关变更登记手续。 ...