The first loss of 150 million yuan in the fiscal year will be increased by 11% year-on-year

Financial News

Written by: Lin Leqian

2020-05-29 21:17

The local veteran department store, which was acquired by Chinese capital earlier, first implemented (﹙0244﹚), and today announced its annual results as of the end of March, with a loss of 147 million yuan during the period, an 11% increase from the loss of 132 million yuan in the same period last year, and a loss of 0.17 per share Yuan, no dividend.

During the period, the revenue was 263 million yuan, a year-on-year decrease of 16%. The group explained that last year's loss was mainly due to the decrease in sales of department store business and the continuing operation loss of the department store business, which led to an increase of 12.8 million yuan in impairment losses on right-of-use assets.

The Group pointed out that after the outbreak, the department store business will be adversely affected. However, as the number of confirmed cases has decreased, the number of shops has gradually returned to normal. Even though the department store business is facing tests, it is still cautiously optimistic about the performance of the core department store business in the coming year.

Xianshi was previously acquired by the Chinese property stock Weilu Group (1196). The initial offer price was 0.3806 yuan per share, which was a premium of about 8.74% from the closing price before the suspension, and the total consideration was about 500 million yuan. According to the group, with the experience of its department store business, the integration and utilization of the properties held by the Weilu Group will generate potential synergistic benefits.

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