Wangfujing'S First Quarter Net Profit Decreased By 11.27% Otalis Revenue Growth

The Wangfujing group Limited by Share Ltd (hereinafter referred to as "Wangfujing") released the first quarter 2019 report.

In 1-3 months, Wangfujing realized operating income of 7 billion 165 million yuan, a slight increase of 0.21% over the same period last year. The net profit attributable to shareholders of listed companies was 403 million yuan, a decrease of 11.27% over the same period last year. The net profit attributable to shareholders of listed companies after deducting non recurring gains and losses was 394 million yuan, representing a decrease of 10.96% over the same period last year.

According to the format, department stores / shopping centers operating income was 5 billion 761 million yuan, a year-on-year decrease of 1.88%, operating costs of 4 billion 772 million yuan, a decrease of 1.82% compared to the same period, gross margin of 17.17%, down 0.05% over the same period last year.

Outlets revenue was 971 million yuan, an increase of 10.70% over the same period last year, operating costs of 865 million yuan, an increase of 10.58% over the same period, gross margin of 10.89%, a decrease of 0.10% over the same period last year.

According to the regional point of view, the main source of revenue from Wangfujing is North China, southwest and northwest. The three major regions in the first quarter are 2 billion 291 million yuan, 1 billion 852 million yuan and 1 billion 138 million yuan respectively, while the rest of the regional market revenue is below 1 billion yuan.

During the reporting period, there were no new stores in Wangfujing, but two new wholly owned subsidiaries, Xining Wangfujing shopping center limited liability company and Xining Wangfujing Lake Lake Shopping Center Co., Ltd., were registered with capital of 10 million yuan.

The report also showed that in March 29, 2019, the first brigade group signed a state owned share free pfer agreement with Dongan Wangfujing.

Prior to this free pfer, the first brigade group held 100% stake in Wangfujing, Dongan.

Wangfujing Dongan is the controlling shareholder of Wangfujing, holding 2.07 shares of Wangfujing, accounting for 26.73% of the total share capital.

After this free pfer, the first brigade group directly owns 207 million shares of Wangfujing, accounting for 26.73% of the total share capital.