Guangzhou Grandbuy Co Ltd

Grandbuy disclosed its 2026 semi-annual report on August 29. In the first half of the year, it achieved total operating revenue of 1.164 billion yuan, down 48.22 percent year on year, but net profit attributable to the parent company was 21.5525 million yuan, turning a year-earlier loss into a profit. Net profit after deducting non-recurring items was 22.502 million yuan, also swinging to a profit. Net cash flow from operating activities was negative 11.801 million yuan, an improvement from negative 142 million yuan in the same period last year. Basic earnings per share were 0.03 yuan, and the weighted average return on equity was 0.54 percent. The company is mainly engaged in department store retail, with business formats including department stores, shopping centers, supermarkets, specialty stores, and online sales.

Grandbuy released its 2026 interim report, showing total operating revenue of 1.164 billion yuan and net profit attributable to the parent of 21.55 million yuan, an increase of 36.91 million yuan compared with the same period last year, achieving a turnaround from loss to profit. Net cash flow from operating activities was negative 11.8 million yuan, an improvement of 130 million yuan from a year earlier. The company's latest asset-liability ratio was 43.15%, down 0.88 percentage points from the previous quarter and down 0.35 percentage points from the same period last year. Gross margin was 39.45%, up 16.62 percentage points year-on-year, marking a second consecutive year of increase. Diluted earnings per share were 0.03 yuan, up 0.05 yuan from a year earlier. The number of shareholders was 34,100, with the top ten shareholders holding 63.54% of total share capital.

Traditional retail companies posted clearly divergent results in the first half of 2026. Yonghui Superstores and Grandbuy turned profitable, while Zhongbai Holdings Group and Liqun Commercial Group remained in the red. Yonghui Superstores expects first-half net profit attributable to shareholders of 250 million yuan and non-GAAP net profit of 30 million yuan, mainly helped by completing renovations at 331 stores, lifting gross margin by 1.6 percentage points year on year and cutting period expense ratio by 1.8 percentage points. However, based on first-quarter figures, its second-quarter non-GAAP net profit was negative 217 million yuan. Grandbuy expects first-half non-GAAP net profit of 20 million to 25 million yuan, returning to profit through cost reduction and efficiency gains. Zhongbai Holdings Group expects a non-GAAP net loss of 269 million to 352 million yuan, while Liqun Commercial Group expects a non-GAAP net loss of 48 million to 65 million yuan, with both weighed down by declining foot traffic, online diversion and persistently high fixed costs. At the same time, community store formats are expanding rapidly. Walmart China opened its 20th community store in Shenzhen, Meituan's community hard-discount supermarket Happy Monkey opened three new stores in Beijing and Tianjin, and Freshippo has made its community discount format Freshippo NB one of its main store types. Among A-share companies, Hongqi Chain expects first-half net profit attributable to shareholders of 266 million to 275 million yuan and non-GAAP net profit of 275 million to 284 million yuan. Its high-density community network is seen by the industry as a key advantage that sets it apart from the hypermarket model.