Maoye Commercial Co.Ltd(600828) ( Maoye Commercial Co.Ltd(600828) . SH) announced on March 26 that the company achieved an operating revenue of 4.168 billion yuan in 2021, a year-on-year increase of 12.67%; The net profit attributable to the shareholders of the listed company was 409 million yuan, a year-on-year increase of 92.18%; The basic earnings per share was 0.24 yuan, a year-on-year increase of 92.20%. The company plans to distribute a cash dividend of 1.5 yuan (including tax) to all shareholders for every 10 shares.
Maoye Commercial Co.Ltd(600828) mainly commercial retail, supplemented by some property leasing and hotel business. By the end of the reporting period, the company had a total of 22 physical retail stores, including department stores, shopping centers, outlets and supermarkets; The main business modes of commercial retail are still self operated mode, joint venture mode and leasing mode, mainly joint venture mode.
Affected by the epidemic, the company’s performance in recent two years has decreased significantly compared with that before the epidemic. The operating revenue of the company in 2017, 2018 and 2019 exceeded 12 billion yuan, and the net profit attributable to the parent company was more than 1 billion yuan. Affected by the epidemic, the company’s performance decreased significantly in 2020, with a total operating revenue of 3.699 billion yuan, a year-on-year decrease of 69.76% and a year-on-year decrease of 83.09% in net profit attributable to the parent company.
However, compared with 2020, the performance of Maoye Commercial Co.Ltd(600828) 2021 has achieved obvious recovery and improvement. In 2021, the company achieved an operating revenue of 4.168 billion yuan, a year-on-year increase of 12.67%, and the net profit attributable to shareholders of listed companies was 409 million yuan, a year-on-year increase of 92.18%. After deducting non recurring profits and losses, the net profit attributable to listed companies was 336 million yuan, a year-on-year increase of 10.54%. During the reporting period, the profit and loss from the disposal of non current assets of the company was 907614 million yuan, mainly from the demolition of the warehousing and transportation branch of chengshang Group Holdings Co., Ltd.
According to the financial report, during the reporting period, Maoye Commercial Co.Ltd(600828) the most profitable business was department store retail. In 2021, the retail sales revenue of the company’s department stores reached 2.862 billion yuan, a year-on-year increase of 13.44%; Compared with last year, the operating revenue of other industries such as hotels and real estate also increased, with a year-on-year increase of 22.10%. The operating cost of the company was 1.588 billion yuan, with a year-on-year increase of 12.95%, slightly higher than the increase of 12.67% of operating revenue, resulting in a decrease of 0.09 percentage point in the gross profit margin of sales compared with last year.
According to the financial report, the book value of the company’s goodwill at the end of the period was 1.190 billion yuan, a year-on-year decrease of 4.41%. Affected by the epidemic, the asset group of Rendong department store is impaired, and the provision for goodwill impairment is 386714 million yuan this year. As of the reporting date, Rendong department store has accrued about 181 million yuan of goodwill impairment.
The company said that the epidemic is still raging around the world and continues to have an important impact on China’s macro-economy, residents’ income, competition in the retail industry and consumers’ shopping habits. The difficult situation of system transformation borne by the whole retail industry will be further aggravated. As a physical retail enterprise focusing on department stores and shopping centers, the company expects its operating performance in 2022 to continue to be under pressure.
