RAINBOW(SZ:002419)2023-03-22 10:32Group 1: Business Model and Operations - The company operates two main business models: platform-based (department stores and shopping centers) and vertical (supermarkets) [1] - As of December 31, 2022, the company owned 10 self-owned properties with a total area of 610,000 square meters, accounting for approximately 13% of total property area [1] - The company established a strategic goods and KA market department in 2022 to develop strategic goods and expand institutional customer group purchasing [1] Group 2: Financial Performance and Policies - The company has implemented an active cash dividend policy, proposing a cash dividend of 0.5 yuan (including tax) per 10 shares for 2022, which represents 48.7% of the net profit attributable to ordinary shareholders [2] - The revenue structure of supermarkets and department stores changed due to accounting policy changes and the impact of the pandemic, with supermarket revenue increasing [2] Group 3: Customer Engagement and Market Trends - There has been a noticeable recovery in customer traffic at shopping centers, with positive trends observed [2] - The company's contract liabilities primarily arise from prepaid card sales, customer receivables, and franchisee transactions [1]