Nanning Department Store released its 2024 annual performance, with a net loss attributable to the parent company of 31.63 million yuan, turning from profit to loss year-on-year

Nanning Department Store released its 2024 annual performance, reporting revenue of 617 million yuan, a year-on-year decrease of 9.31%; net loss attributable to the parent company was 31.63 million yuan, turning from profit to loss year-on-year; the loss of net profit excluding non-recurring items was 53.14 million yuan, an expansion year-on-year. The main reason is the lessee of the Cultural Palace store defaulting and long-term rent arrears, leading the company to terminate the lease contract early and recognize impairment losses on receivable finance lease payments