Better Life(SZ:002251)2022-12-06 07:31Financial Performance - In 2016, the company achieved a revenue of 15.47 billion CNY, a year-on-year growth of 0.12% [1] - The net profit attributable to shareholders was 133 million CNY, a decline of 37.94% compared to the previous year [1] - In Q1 2017, the company reported a revenue of 4.73 billion CNY, with a year-on-year increase of 5.63% [1] - The net profit for Q1 2017 was 152 million CNY, reflecting a year-on-year growth of 21.58% [1] - The company expects a net profit change of 0%-30% for the full year of 2017 [1] Investment Projects - The company plans to invest approximately 850 million CNY in the "Bubugao Huaihua New World" project to enhance competitiveness in key regions [1] - The project will cover an area of about 35,000 square meters and aims to create a multifunctional commercial center [2] - The new shopping center will have a construction area of approximately 100,000 square meters, focusing on retail, dining, and entertainment [2] Strategic Acquisitions - The acquisition of Macy's Commercial aims to implement the "Greater Southwest Strategy" for rapid expansion in the Sichuan-Chongqing region [2] - Post-acquisition, the company will hold 94% of Macy's Commercial, enhancing its competitive edge and profitability [2] - As of December 31, 2016, Macy's Commercial operated 20 stores with a total area exceeding 360,000 square meters [2] Store Expansion - In Q1 2017, the company opened 12 new stores and acquired 20 stores from Macy's Commercial [2] - The company anticipates opening over 50 new stores throughout 2017 [2] Other Activities - The company is currently adjusting its plan for a capital increase involving Chongqing Department Store due to new refinancing regulations [2]