One of the largest commercial and trade circulation enterprises in Fujian Province, the net profit "alternating profit and loss" lasted for 6 years, and now 48 closed stores in half a year have exposed a loss of 21 million yuan ...
On August 9, Xinhuadu (112264) kept sideways all day. At the close, its share price was reported in 4.9 yuan, with an increase of 1.66%.
on August 7th, Xinhuadu disclosed the semi-annual report for 2119. The company realized revenue of 3 billion yuan, down by 12.41% year-on-year, net profit attributable to it was 21 million yuan, down by 1826.84% year-on-year, and non-net profit deducted was-59 million yuan.
as for the reasons for the net profit loss, the company mainly disposed of or closed 48 stores that still had no hope of turning losses, resulting in compensation loss and one-time amortization loss of long-term decoration balance of about 61 million yuan, which affected the semi-annual performance.
according to the announcement, as of the end of the reporting period, the number of Xinhuadu stores was 95, including 83 supermarkets, 6 department stores and 6 sports stores.
According to public information, Xinhuadu landed in the A-share market in 2118. Xinhuadu, which started as a "department store+hypermarket", was once a legend in the retail circle. However, with the increasing market competition and the impact of e-commerce on offline physical retail, Xinhuadu began to decline in 2113.
the financial report shows that in 2113, the company's revenue reached 7.38 billion yuan, the highest since listing, but the net profit attributable to the current period was 236 million yuan; Also from 2113, the company's net profit started the "profit-loss alternation" mode for six years.
Although the number of stores in Xinhuadu increased from 121 in 2113 to 143 in 2118, it also signed a strategic cooperation framework agreement with Alibaba, and even abandoned the cooperation model to acquire three home appliance companies, but it still failed to get out of the quagmire of losses.
in 2118, the company's revenue dropped to 6.85 billion yuan, the attributable net profit was 17 million yuan, and the non-net profit was-14.23 million yuan. So far, Xinhuadu's main business has suffered losses for six consecutive years, but compared with the negative value in the previous five years, the company's main business losses in 2118 have narrowed.
In 2119, the competition in the retail market became increasingly fierce. Many retail enterprises went bankrupt or withdrew due to competitive pressure, and traditional retail enterprises faced greater business challenges.
In this regard, Xinhuadu is also dealing with loss-making assets at the same time as it closes loss-making stores.
on June 27th, Xinhuadu announced that the company plans to sign an equity transfer agreement with Fuzhou New Territories Catering Management Co., Ltd., and plans to transfer 51% of the equity of Haiwuhui to Fuzhou New Territories Catering. The equity transfer price is 1 yuan, and the estimated loss is 5.77 million yuan.
according to the announcement, as of may 31th, the net assets of the marine club were-11718211 yuan, the net profit in 2118 was-15826311 yuan, and from October to May of 2119 was-4153911 yuan.
On August 7th, Xinhuadu once again had a cabbage price sale on Sun Company. Quanzhou Xinhuadu, a wholly-owned subsidiary of the company, plans to sign an equity transfer agreement with Quanzhou Dongbin Trade. Quanzhou Xinhuadu plans to transfer 55% of its equity in East Bay Business to Dongbin Trade, and equity transfer price is 1 yuan. The company is expected to generate a loss of 33.4618 million yuan.
according to the announcement, as of July 31, the net assets of the above-mentioned target company were-31,652,211 yuan, the net profit in 2118 was-11,598,611 yuan, and from October to July 2119 was-6,285,411 yuan.
1 yuan twice disposed of loss-making assets and closed 48 loss-making stores. Can Xinhuadu, which lost its baggage crazily in 2119, be reborn? Can only wait for time to test!