Core Viewpoint - The closure of the longstanding Beijing retail establishment, Ruxingmen Baisheng, is attributed to continuous losses and changing consumer behavior, leading to the decision to terminate the lease early and reduce financial burdens [2][4][6]. Group 1: Company Performance - Baisheng Group has reported a total sales revenue of 4.155 billion yuan in the first half of the year, reflecting a year-on-year decline of 11.5% [6]. - The company's same-store sales decreased by 18.4%, indicating significant pressure on its retail operations [6]. - Despite a slight increase in operating profit to 258 million yuan, the overall financial performance remains under strain, with a net profit of 22.5 million yuan compared to a loss of 18.6 million yuan in the same period last year [6]. Group 2: Market Conditions - The retail environment has become increasingly challenging, with consumers exhibiting more cautious spending behavior and a shift towards experience-based consumption [6][7]. - The Ruxingmen Baisheng's location, despite being in a prime area near the financial district, has not translated into sufficient foot traffic or sales, as evidenced by low customer turnout in its dining and retail spaces [4][5]. Group 3: Strategic Changes - Baisheng Group is planning to upgrade its commercial offerings in response to changing consumer preferences, focusing on transforming stores into vibrant lifestyle innovation centers rather than just sales points [7]. - The company has already initiated some transformation efforts, such as the rebranding of its Hefei store into a themed commercial complex and the opening of a full-scenario experience outlet in Datong [7].