Maoye International (00848) is forecasting a net loss of about 120 million to 180 million yuan in the first half of the year

According to the Zhitong Finance App, Maoye International (00848) announced that the group expects a net loss of about 120 million to 180 million yuan in the first half of 2026, while net profit of about 11.92 million yuan in the first half of 2025. In the current period, excluding the impact of impairment losses of about 125 million dollars due to changes in the fair value of investment properties and impairment losses of about 45 million yuan in goodwill, the net operating loss for the first half of 2026 was between 8 million and 38 million.

According to the announcement, the expected profit to loss is mainly due to the impact of the main business performance on the macroeconomic environment. The department store retail industry is still in the bottom adjustment stage, compounding insufficient consumer consumption momentum, falling customer unit prices, affecting the decline in the company's revenue and putting pressure on net profit; during the reporting period, several stores were closed due to failure to reach agreement with relevant contractors on the terms of the leasing cooperation, including Inner Mongolia Victoria Times City and Qinhuangdao Modern Shopping Plaza stores. As a result of the closure of the store, operating income decreased by about 94.28 million compared to the same period last year, and net profit decreased by about 31.35 million. During the reporting period, according to relevant accounting policies and regulations, management plans to accrue losses of about 125 million yuan from changes in the fair value of investment real estate in this period, and about 45 million yuan for related goodwill impairment losses.