Core Viewpoint - Gao Xin Retail's interim performance report for the six months ending September 30, 2025, shows a decline in revenue and profit, but the company is focusing on online growth and operational efficiency to drive future performance [1][2][3] Financial Performance - The company reported revenue of RMB 30.502 billion, a decrease of 12.1% compared to RMB 34.708 billion in the same period last year [2] - Gross profit was RMB 7.719 billion, down 9.5% from RMB 8.526 billion year-on-year [2] - Operating profit fell significantly by 56.4% to RMB 271 million from RMB 621 million [2] - The company recorded a net loss of RMB 127 million, compared to a profit of RMB 186 million in the previous year [2] Business Operations - Online B2C business showed robust performance with a same-store order growth of approximately 7.4%, contributing to a same-store sales increase of about 2.1% [2][3] - The company initiated a front warehouse project aimed at exploring new growth points in online business, leveraging existing resources for efficient local delivery [3] - The self-owned brand strategy was upgraded with the launch of a "1+1 dual brand matrix," contributing over 2% to overall performance [3] Strategic Focus - The company plans to focus on three core areas: streamlining and differentiating products, enhancing store modifications to improve customer experience, and accelerating the front warehouse network expansion to capture online market growth [3] - Following the sale of Gao Xin Retail to Dehong Capital, which now holds a 79.16% stake, the company is entering a new phase of transformation away from Alibaba [3]

Core Insights - Gao Xin Retail Co., Ltd. reported a revenue of RMB 30.502 billion for the six months ending September 30, 2025, with a gross margin of 25.3%, an increase of 0.7 percentage points year-on-year, and a net cash position of RMB 11.958 billion [1] Group 1: Financial Performance - The company's revenue reached RMB 30.502 billion, reflecting a solid financial performance [1] - The gross margin improved to 25.3%, indicating enhanced profitability [1] - The net cash position stood at RMB 11.958 billion, showcasing strong liquidity [1] Group 2: Business Operations - Online B2C business showed robust performance with a same-store order growth of approximately 7.4%, contributing to a same-store sales increase of about 2.1% [3] - The company initiated a front warehouse project to achieve efficient local delivery and attract online users, with warehouses established in five locations [3] - Significant advancements were made in national procurement to reduce costs and enhance efficiency, alongside an upgrade of the private label strategy [3] Group 3: Private Label and Logistics - The company leveraged national supply chain resources to build a comprehensive quality control system and pricing advantages for its private label products [5] - The "Chao Sheng" series focuses on direct factory connections to eliminate intermediaries, while the "Run Fa Zhen Xuan" series emphasizes health trends and local flavors [5] - The logistics chain was optimized by reducing external warehouse numbers and introducing competitive bidding for storage services, expected to save over RMB 100 million in costs over the next few years [5] Group 4: Store Development - The company is focusing on store renovations as a key development direction, with new stores in Jiangsu and Anhui serving as models for the next generation of hypermarkets [5] - The sales proportion of fresh and processed goods in the new stores exceeded 30%, significantly higher than the overall average [5] - Plans are in place to complete over 30 store renovations or regional adjustments within the current fiscal year, with an expectation to finish over 200 renovations before the next fiscal year [5]

10月13日上午消息，大润发在全国门店同步启动"自有品牌节"。这是继昆山大润发"爆改"刷新行业纪录 后，大润发以"自有品牌"掀起的新一轮民生消费热潮。 当日凌晨，正值大润发28周年之际，全国近500家门店、大润发优鲜App等线上线下平台同步开启"自有 品牌节"，上架包括超级性价比的"超省"系列和关注品质生活的"润发甄选"系列。 大润发相关负责人表示，未来大润发将持续推进自有品牌1+1双品牌战略，"超省"系列通过直连工厂， 去中间商环节，去品牌溢价，聚焦价格竞争力，坚持国标及以上商品品质，打造"民生基础""市场爆 款""极致性价比"三大维度； "润发甄选"系列则直击消费者"既要高品质，又要市井价格"、"既要健康， 又要口感"的需求，重点关注"健康趋势""地方风味""权威认证"三大维度，将健康饮食从"概念化"变 为"可落地"，致力于成为消费者生活解决方案的信任共同体。截至2025年9月底，两大品牌共计推出商 品SKU数近500个，覆盖休闲食品、酒饮、五谷、调味、面点、水产、家庭清洁、百货等50余个品类。 责任编辑：屠欣怡 ...