Zhongbai Holdings Group (000759.SZ) announced a forecasted net loss of 433 million to 613 million yuan for the year 2024, with the loss increasing compared to the same period last year.

Zhongbai Holdings Group (000759.SZ) disclosed its annual performance forecast for 2024, with the company expecting a net loss attributable to shareholders of the listed company of 4.33 billion to 6.13 billion yuan, and a net loss of 4.47 billion to 6.27 billion yuan after deducting non-recurring gains and losses, with the loss expanding year-on-year. The main reasons for the performance change are as follows: Firstly, the rapid development of offline discount stores, member stores, and segmented specialty stores, coupled with the continuous expansion of e-commerce, led to a decrease in company operating income due to a decrease in foot traffic in traditional physical supermarkets and large stores. Secondly, in response to competition, the company continues to deepen its business model innovation, initiate self-adjustment practices, carry out promotional activities, and factors such as increasing labor costs and rental costs have squeezed profit margins. Thirdly, the company incurred losses from closing stores that were unable to turn a profit.