SUNART RETAIL (06808) released its interim results, with a net profit attributable to shareholders of 2.06 billion yuan.

SUNART RETAIL (06808) released its performance for the six months ending September 30, 2024, with revenue of 34.708 billion yuan, a decrease of 3% year-on-year. The company's share of profits attributable to owners was 206 million yuan, compared to a loss of 359 million yuan in the same period last year. Basic earnings per share were 0.02 yuan. For the six months ending September 30, 2024, revenue from sales of goods was 33.186 billion yuan, a decrease of 10.39 billion yuan or 3.0% compared to the same period ending September 30, 2023. The decline was mainly due to the closure of long-term loss-making stores, as well as contraction in supply chain businesses such as Taocai and Tmall shared inventory services. During the period, same-store sales growth (calculated excluding supply chain business goods sales) was 0.3%. Same-store sales growth was mainly driven by growth in average transaction value, low-price and product strategies that enhance user awareness, drive an increase in transactions per customer, and improve user loyalty. Offline revenue performance gradually stabilized, with new online channels and the company's own app becoming key drivers of growth in same-store sales.