Wangfujing Transformation Shopping Center Was Accused Of Upset

Beijing Wangfujing Department store (Group) Limited by Share Ltd (Wangfujing) holds 2013 annual shareholders' meeting at the eleven floor conference room of Wangfujing building. The shareholders' meeting was presided over by Liu Bing, chairman of the company. When Liu Bing entered the conference room, the first sentence was "this shareholders' meeting is full of participants."

The shareholders' meeting did not provide Internet voting, and the authorized representatives of the shareholders and shareholders attending the meeting were 5 (including Chairman Liu Bing), accounting for 49.57% of the total shares of the company. The reporter saw at the scene that the whole conference room was around four or five people, including 3 external shareholders and 8 senior executives of Wangfujing companies, as well as a number of Securities researcher and private placement personnel.

June 21st Wangfujing Bulletin The general meeting of shareholders The result of the vote was that all seven deliberations were passed. It is worth noting that the second motion, "2013 annual board of supervisors report" has received 46 thousand and 800 votes against the vote, accounting for 0.02%, and the opposition vote is entrusted by the Quebec group and another shareholder Dong Miyue Wangfujing.

　　 Only one store opened throughout the year.

Development speed to "freezing point"

At the opening of the Wangfujing shareholders' meeting, chairman Liu Bing was outspoken. cost The two major factors of rising and increasing competitiveness are the unprecedented impact of traditional retail industry, especially in the latter half of last year, with the intensification of the central anti-corruption efforts and the intensification of cross-border competition, the department store industry continued to decline and the business environment of the industry faced serious challenges.

"Last year was the slowness of the company's development, and only one shop opened in the whole year". When Liu Bing made the 2013 Board report, he issued a draft from time to time to describe the operation of the operation last year to the agencies or shareholders. The department store did not provide basic daily necessities. It belonged to the fashion consumption format. Because of the anti-corruption measures, the department store industry suffered the most serious impact.

The company's annual report 2013 showed that the company achieved operating income of 19 billion 790 million yuan during the reporting period, an increase of 8.35% over the same period, with a total profit of 982 million yuan, an increase of 7.19% over the previous year, and a net profit of 694 million yuan attributable to shareholders of listed companies, an increase of 3.09% over the same period. Such a growth rate has declined considerably compared with the past.

Liu Bing said that the central anti-corruption measures should continue in a short time, directly affecting the sales amount of the token card in Wangfujing. "In the first quarter of this year, the sales of token cards in the Wangfujing decreased by 60% compared with the same period last year, while the sales of token cards accounted for 25% in the first quarter, which is enough to reflect the reasons for the further decline of the company's revenue growth.

Wangfujing also said in its 2013 annual report that China's retail market continued to cool down in the previous year, and the growth rate dropped further, and the total retail sales of consumer goods dropped to its lowest level in nearly eight years.

Wangfujing quarterly report shows that during the reporting period, the company achieved operating income of 5 billion 240 million yuan, a decrease of 4.97% compared with the same period last year, and the net profit attributable to shareholders of listed companies was 223 million yuan, an increase of 0.45% over the same period last year. For the 2014 revenue plan, Wangfujing said its target was 5% higher than last year.

　　 Transformation of shopping centers

Suspected "can't do well"

In the face of the slow development of the company, Liu Bing, chairman of the board of directors, repeatedly stressed at the shareholders' meeting that the traditional department stores should be transformed and transformed, and the mobile Internet could be used to build the whole channel. It said that in the layout of the format, Wangfujing will implement a shopping center based, department stores supplemented mode. At present, the company will actively promote the layout of shopping centers in provincial capitals, has signed investment in two shopping centers in Zhengzhou and Xi'an, and settled in new cities and shopping centers in Nanchang last year. Besides, Wangfujing Foshan shopping center is also stepping up.

Public information shows that Beijing Wangfujing International Business Development Co., Ltd., which accounts for 49.27% stake in Wangfujing, has acquired the spring department store. Liu Bing, chairman of the board, said that the acquisition of Spring Department Stores by controlling shareholders is the most distinctive business of Seth outlets. When it comes to small shareholders asking when big shareholders will integrate these businesses into listed companies, Liu Bing has not yet set a clear timetable.

In addition, with the rapid development of Internet and social media, and accelerating penetration into traditional industries, cross border competition and subversive change have become an unavoidable reality in the retail industry. In response to the impact of the electricity supplier, Wangfujing launched a comprehensive strategic transformation in 2013.

In February 11th, the Wangfujing announced that it signed a strategic cooperation framework agreement with Tencent, launched O2O, and launched online Wangfujing online shopping mall, WeChat public platform and Wangfujing APP, and self T-shirt brand, and implemented WIFI coverage in department stores. In addition, Liu Changxin, director of information and vice president of the company, said that cooperation with Alibaba is also under negotiation.

At the shareholders' meeting, there were small shareholders who mentioned how the Wangfujing online mall could compete with Tmall and Jingdong mall. Liu Bing, chairman of the board of directors, responded that goods would not be the same, and the same goods would not show different prices in physical stores and online.

In response, a researcher from a securities company in Southern China said in an interview with reporters that the chairman of the company responded rather vaguely. In reality, if the profit is available, dealers everywhere can completely put the goods onto Taobao's ordinary stores. "Wangfujing is suffering from a lack of growth and wants to seek a transformation growth point, which is a bit like" disrupting boxing ".

At the same time, he said that based on the genes of old state-owned enterprises in Wangfujing, employees and assessment mechanisms are quite different from private enterprises. With the current capital and operation capacity of Wangfujing transforming into shopping centers, online shopping centers can operate, but basically they are relatively large investments.

The researchers also said that now the good location and quality resources are very popular, Wangfujing at this time choose to enter the cost is not low, if the company in other areas to insist on doing their own department store main business, but also can grow.