Yintai Business Released Interim Results Earnings Decreased By 21.3%

In August 16th,

(Group) Co., Ltd. (Stock Code: 1833) issued mid-term results for the end of June 30, 2016 for six months.

According to the report, the total sales revenue of Yintai business in the middle of June 30th was 8 billion 351 million 700 thousand yuan, a decrease of 2.3%.

In the report, we can see that in the six months ended June 30, 2016, despite the overall decline in the physical retail industry,

With the increasingly fierce competition and weak consumption growth rate, the total sales proceeds of Yintai business (the total amount of direct sales proceeds, the total sales of franchised sales, rental income, management fees and the total Commission on sales of goods) still closed at 8 billion 351 million 700 thousand yuan, down 2.3% from the same period last year.

In the total revenue of Yintai business, the retail income was 2 billion 725 million 500 thousand yuan, an increase of 2.3%; the total income was RMB 3 billion 48 million yuan, a decrease of 0.3%; the profit of the parent company owner was RMB 561 million 100 thousand yuan, a decrease of 21.3%.

According to the report, Yintai business is in a state of weak growth. The main reasons are: 1) there is no such recognition as the first half of 2015 that the revenue generated from the sale of joint venture rights is about 188 million 500 thousand yuan; 2) the revenue generated by the sale of Affiliated Companies is reduced by about 23 million 500 thousand yuan compared with the same period last year; 3) in the first half of 2016, the loss of RMB 42 million 300 thousand was confirmed by hedging dual currency loan financing and foreign exchange risk, and 4) the sales of the same store from franchised sales and direct sales decreased by 4.1%.

This not only comes from its own business factors, but now the entity retail industry is declining, the market competition is becoming increasingly fierce, and the growth rate of consumption is weak, which affects the overall market development.

Based on China's overall market development, Yintai business has not stopped to expand its pace, choose to continue to identify potential opportunities to expand the retail network, and develop 020 applications, providing online to offline services for customers, attracting new customers, deepening the concept of customer demand first, accelerating the development of Pan channel and laying a solid foundation for customers to create a better shopping experience.

It is reported that in June 30, 2016, Yintai business managed and managed a total of 29 department stores and 17

The total construction area is 2924654 square meters, including 20 department stores and 10 shopping centers located in major cities in Zhejiang, 6 department stores in Hubei, 1 shopping centers, 1 Department stores in Beijing, 3 shopping centers in Anhui, 1 shopping centers in Hebei Province, 1 shopping centers in Guangxi Province, and 2 Department Stores and 1 shopping centers in Shaanxi province.

Yintai business knows that Chinese consumers are more modern, and the market environment will be more challenging for traditional retailers.

Intime business develops O2O application initiatives and provides better consumer solutions to the market. It also works with Alibaba to launch new online to offline business integration modes such as cargo collection and InJunior, to provide customers with richer shopping options and more comfortable shopping experience.

At present, about 68 online brands have been sold in our group stores.

The group also plans to cooperate with more Amoy brands in the near future to sell its products in the group stores.

It is understood that Yintai business has sold about 786 offline brands online.