RAINBOW(SZ:002419)2023-05-29 02:14Group 1: Company Performance and Recovery - The company has seen a rapid recovery in customer traffic, although consumer spending is still recovering slowly, likely related to macroeconomic conditions and household income levels [2] - The shopping center segment has shown better recovery compared to the department store segment [2] - The company plans to open 3-4 new shopping centers this year, primarily in its advantageous regions of South and Central China [2] Group 2: Supermarket Development - The supermarket segment has achieved good revenue growth through strategic core product development, including base order planting and global sourcing [3] - The online sales from the supermarket segment have exceeded 20% of total supermarket sales, aided by partnerships with third-party platforms like JD and Meituan [3] - The self-owned brand sales increased by 11% in 2022, accounting for nearly 10% of total sales [3] Group 3: Digital Transformation and Efficiency - The company has implemented digital transformation strategies since 2013, focusing on cost reduction and efficiency improvement [4] - The introduction of self-service payment systems and the use of RFID technology have reduced the need for cashiers, leading to a decrease of over 1,000 employees despite an increase in store openings [4] - In 2022, the total online sales and digital service revenue reached approximately 5.7 billion yuan [4] Group 4: Financial Policies and Future Outlook - The company has maintained a positive cash dividend policy, with cash dividends historically accounting for around 50% of net profit before 2019 [5] - In 2022, the cash dividend amount was 48.7% of the net profit attributable to shareholders [5] - The company is exploring the integration of financial tools with its business in light of recent regulatory changes regarding infrastructure REITs [5]