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The city's duty-free shops are making progress as Wangfujing Group collaborates with Wushang Group to establish a presence in Wuhan | Quick announcement.
① The city’s duty-free shops have made progress, with Wuhan's first city duty-free store to be jointly operated by Wangfujing Group and Wushang Group. ② Looking at Wangfujing Group's Earnings Reports, despite the pressure on revenue, the duty-free industry is experiencing significant growth, but its limited scale restricts its effect on overall revenue.
Wushang Group (000501.SZ): Plans to jointly establish a joint venture with Wangfujing Group to operate duty-free projects in Wuhan.
On December 26th, Gelonghui reported that Wushang Group (000501.SZ) announced that the company and Wangfujing Group Co., Ltd. (referred to as "Wangfujing") jointly invested to establish the Wangfujing Wushang Duty-Free Merchandise Operation Co., Ltd. (tentative name, subject to final registration by the market supervision administration, referred to as "joint venture company"). The operational project is for duty-free items within Wuhan City, with a registered capital of 80 million yuan for the joint venture company. Among this, the company contributed 39.2 million yuan, accounting for a 49% share; Wangfujing contributed 40.8 million yuan, holding 51% of the joint venture company's shares.
Wangfujing Group (600859.SH): Laixi Wangfujing Shopping Center is open to the public.
On December 20, Gelonghui reported that Wangfujing Group (600859.SH) announced that on December 21, 2024, the LaiXi Wangfujing Shopping Center under the company will open to the public. The LaiXi Wangfujing Shopping Center is located at 118 Beijing Middle Road, Shuiji Street, LaiXi City, Qingdao, ShanDong Province, and is managed and operated by the company's Beijing Wangfujing Shopping Center Management Co., Ltd. The total construction area of the project is 0.154 million square meters, with a leasing period of 20 years. The LaiXi Wangfujing Shopping Center is positioned as a new coordinate for urban quality living, primarily featuring fashionable, refined, and young brands, targeting the new generation pursuing high-quality living and families.
Wangfujing Group (600859.SH): Its subsidiary Harbin Wangfujing Shopping Center actively attracts customers by creating landmark ice and snow landscapes and hosting ice and snow cultural performances.
On December 19, Gelonghui reported that Wangfujing Group (600859.SH) stated on the investor interaction platform that the company is advancing its share buyback plan according to the disclosure scheme and will implement it when market conditions permit. The company's Harbin Wangfujing Shopping Center is deeply integrating with the ice and snow economy and local characteristics by creating landmark ice and snow landscapes, hosting ice and snow cultural performances, and other activities to actively attract and channel customers. At the same time, the company's Harbin Taiping International Airport departure duty-free shop is fully preparing, which will jointly assist the upcoming Winter Asian Games.
Wangfujing Group (600859.SH): There are a total of 24 tax refund stores under its Peking and other regional stores.
On December 19, Gelonghui reported that Wangfujing Group (600859.SH) stated on the investor interaction platform that the company has a total of 24 tax refund stores in its Beijing and other regions.
Wangfujing Group (SHSE:600859) Has A Pretty Healthy Balance Sheet
Investors in Wangfujing Group (SHSE:600859) Have Unfortunately Lost 52% Over the Last Three Years
