Group 1: Business Performance and Financials - In 2024, the company achieved total revenue of 142,372.03 million, a year-on-year increase of 1.69%, while the net profit attributable to shareholders was -132,367.65 million, reducing losses by 47.48% compared to the previous year [1] - In Q1 2025, the net profit attributable to shareholders was -6,293,846.43, a reduction in losses by 95.18% year-on-year, indicating improved operational conditions [1] - The company aims to enhance economic efficiency and will focus on "lean, innovation, activation, integration, and quality improvement" to drive high-quality development across its three main businesses: commercial operations, trade logistics, and commodity trading [9] Group 2: Digital Transformation and E-commerce - The digital transformation at Shun Kelong AI stores has improved operational efficiency and customer experience through personalized product recognition systems and self-checkout technologies, enabling a "grab-and-go" payment experience [1] - Online business revenue grew by 28% in 2024, but still accounted for less than 15% of total revenue, prompting the company to accelerate the integration of online and offline operations [5] - The company is leveraging its "Super Collection" e-commerce platform to connect with upstream and downstream supply chain partners, enhancing retail and wholesale operations [5] Group 3: Strategic Initiatives and Future Plans - The company has set a 3-5 year goal to become a leading operator of urban and rural circulation infrastructure, driven by a dual strategy of "industry + capital" [24] - The acquisition of a 51% stake in Beijing New Cooperation Commercial Development Co., Ltd. is part of the strategy to enhance the company's asset base and operational capabilities [7] - The company plans to optimize its existing business structure and expand new business layouts to improve quality and efficiency [9] Group 4: Legal and Compliance Issues - Ongoing litigation involving the company and its subsidiaries is still in the trial process, with no judgments received yet [2] - The company is committed to timely information disclosure regarding any significant matters affecting its operations [2] Group 5: Market Position and Competitive Strategy - The company is focused on building a dual circulation system for industrial products and agricultural products, aiming to enhance the efficiency of urban-rural logistics [24] - The company is actively exploring new business models and partnerships to adapt to market changes and improve its competitive position [26]

Group 1: Strategic Goals and Business Directions - The company aims to become a leading operator in urban and rural circulation infrastructure within 3-5 years, driven by a "real economy + capital" dual strategy [2][4] - The three main business directions are commercial operations, trade logistics, and commodity trading, which are foundational for the company's development [2][3] - The goal for commercial operations is to enhance quality and efficiency, providing better living standards for urban and rural residents [3][4] Group 2: Business Development and Integration - The company plans to create a closed-loop ecosystem by integrating commercial operations, trade logistics, and commodity trading [3][4] - The focus is on establishing regional logistics hubs to facilitate the flow of industrial goods to rural areas and agricultural products to urban centers [3][4] - The acquisition of Beijing New Cooperation Commercial Development aims to enhance the company's network layout in urban and rural circulation channels [4][5] Group 3: Financial Management and Performance - The company is implementing a "123456" work strategy to improve operations, capital management, and financial health [6][7] - The major shareholder requires strict adherence to financial regulations and cost control measures to reflect the company's financial status accurately [7][8] - The company reported a fair value loss of 10.8 billion CNY in 2023 and 11.4 billion CNY in 2024 for investment properties due to market trends [13][14] Group 4: Market Position and Competitive Strategy - The retail sector is experiencing intense competition, prompting the company to develop a differentiated value system and innovative service models [11][12] - The company is focusing on enhancing its online business through the "Super Collection" e-commerce platform, achieving a 105.47% year-on-year increase in online retail revenue [12][13] - The company is exploring opportunities in the Hainan Free Trade Port and the Guangdong-Hong Kong-Macao Greater Bay Area to leverage policy advantages [16][17]