According to the Zhitong Finance App, Baida Group (600865.SH) disclosed its 2023 annual report. The company achieved revenue of 217 million yuan in 2023, down 4.48% year on year; net profit to mother was 13.57 million yuan, down 92.45% year on year; after deducting non-net profit of 89.39 million yuan, up 5.12% year on year; basic earnings per share were 0.04 yuan. The company plans to distribute a cash dividend of 0.23 yuan (tax included) per share to all shareholders.

Under the combined influence of multiple factors such as the impact of e-commerce platforms, changes in consumer habits, and the downgrade of environmental consumption, competition in the offline retail industry has intensified and is facing great challenges. The partner Yintai attracts traffic and increases consumption by adjusting the business format, creating differentiated services, and adding large-scale IPs and joint brand activities; at the same time, it increases gross profit by optimizing business terms and changing sales targets. The company does a good job of supporting the corresponding services. During the reporting period, Hangzhou Department Store achieved operating revenue of 177.9892 million yuan, and commissioned management profits were collected in a timely and full amount.

A small number of properties at the Hangzhou Grand Hotel are fully leased. The Hushu South Road property has successively introduced high-quality merchants such as Jingdong Home Appliance and Lucky Coffee. The diversified business mix of projects has greatly improved the overall business atmosphere and quality, and has also become one of the few popular commercial locations in the Hushu South Road business district. The Hangzhou Collectibles Market used vacant venues to continuously launch events such as calligraphy and painting exhibitions and return collection exhibitions during the year to enhance market activity and brand appeal. By the end of December, the overall rental rate of properties on Hushu South Road had reached 98%. In the reporting period, the other rental property and collectibles markets achieved a total revenue of 25.6967 million yuan.