The New World Earns Less Than 1 Hundred Million In The First Half Of The Year, Only 9 Months Due To The Renovation Of The Main Shop In Nanjing Road.

The new world Limited by Share Ltd of Shanghai (hereinafter referred to as the "new world") has recently issued a notice of pre performance reduction in the first half of 2019. During the reporting period, the company realized net profit of 69 million to 89 million yuan attributable to shareholders of listed companies, which is expected to decrease from 106 million yuan to 126 million yuan compared with the same period last year, down 54.53% to 64.75% compared with the same period last year. Net profit from non recurring gains and losses attributable to shareholders of listed companies is 31 million yuan to 51 million yuan, which is expected to decrease from 100 million yuan to 120 million yuan compared with the same period last year, decreasing from 66.25% to 66.25% over the same period.

According to the new world explanation, the main business of the company is department stores. As of the end of the reporting period, the company has a department store in Nanjing West Road, Shanghai, which has 2-68 stores. It has been renovated since March 11, 2019 (some floor businesses). The implementation period of shop closure is about 9 months. It is expected to be officially opened in December 2019. The loss of sales and profits during the closing period led to a profit reduction in the first half of the year, while the company's pharmaceutical sales and hotel services were operating normally.

According to public information, the new world is a shopping center integrating modern department stores, tourism, leisure and entertainment integrated shopping centers on the famous Nanjing Road Pedestrian Street in Shanghai. It has gathered a large number of well-known brands in China, Asia and even the world, and the main business is department stores.

The theme of the new world city concept is "nature and life", and the interior layout of the mall has layers of themes. The commercial and recreational sports projects strive to create the "6 highlights", including China's first official authorized Japanese animation culture experience IP "Naruto", the world flagship store in Madame Tussaud's, the world's highest indoor climbing, ice and snow world, Zhong Shu Ge and sea fish aquarium. Interactive experience is trying to form "6 small attractions", including film city upgrading, baking studio, sports experience area, women's life hall, children's racing ground and so on.

By the end of 2018, the number of members of the new world city had exceeded 150 thousand, and the sales of its members increased by 25.7% over the same period last year. We have improved the membership management system, expanded the new channels for members, increased the service of member points exchange, the binding of manufacturers' contracts and membership systems, and many other functions. Through a series of member marketing activities, member stickiness continues to grow. At the same time, more attention has been paid to the participation and interaction of members, such as the invited experience of high-end hotels of new world members and SK-II members, the salon production of WELHOME coffee, the archery experience of Chongming Dongtan, the new entry of Madame Tussaud's stars to the opening ceremony, and so on.

Everbright Securities analyst Tang Jiarui said that the new world's main store, new world city, has been closed up since March 2019. The opening time is expected to be December of the same year. With the closing of the new world city, the company's 2019 revenue and performance will be brought back to the same level. It is expected that the overall revenue of the company will return to its original level in 2021. From the observation, the closing of the new world city is a necessary choice for the company in the new business environment. The new world city, which is reloaded, is expected to lead the company to improve its operational level with its high quality location conditions.

Public information shows that the new world is a shopping center integrating modern department stores, tourism, leisure and entertainment integrated shopping centers on the famous Nanjing Road Pedestrian Street in Shanghai. It has gathered a large number of well-known brands in China, Asia and even the world. The main business is department store, as a regional department store.

In 2018, the new world achieved sales revenue of 2 billion 776 million yuan, down 8.15% from the same period last year. Among them: retail sales revenue is 1 billion 889 million yuan, accounting for 68.06% of total sales revenue, a decrease of 2.79% compared with the same period last year, achieving net profit of 272 million yuan, down 39.13% from last year's 448 million yuan. The main reason is that it has no significant impact on the new pill store in the past year. Its investment has been converted from long-term equity investment to available for sale financial assets. The difference between the fair value and book value of the loss on the day of loss is 207 million yuan, which is counted as investment income.