n.n.store: Expected to lose 13 million yuan in the first half of the year, turning from profit to loss year-on-year

Nanning Department Store disclosed its earnings forecast on the evening of July 14, expecting a net profit attributable to shareholders of the listed company of approximately -13 million yuan in the first half of 2025, compared to a profit of 2.4188 million yuan in the same period last year, indicating a loss. During the reporting period, first, due to the default of the overall lessee Guangxi Nanning Jiafen Commercial Management Co., Ltd. for the company's Cultural Palace store, the company terminated the lease contract in advance and reclaimed the premises, which led to a decrease in operating income and an increase in operating costs; additionally, the leasing merchants of the company's own stores terminated their contracts early due to operational difficulties, resulting in a decrease in rental income. Second, the company's operations continued to be under pressure, with a decline in operating income. At the same time, due to the rigid nature of daily fixed operating costs and high operating expenses, profit margins have narrowed