Xinjiang retail leader Huijia Times has released its half-year report, with net profit attributable to the parent company rising 46.4 percent year on year to 98.158 million yuan. The company achieved revenue of 1.335 billion yuan, up 4.98 percent, of which supermarket revenue reached 803 million yuan, a 10.55 percent increase, and gross margin improved by 2.09 percentage points to 21.8 percent, becoming the main driver of profit growth. In the first half, the company continued to push forward its supermarket revamp by learning from Pangdonglai, clearing out 2,300 slow-moving SKUs and introducing 2,000 high-quality products, with new items contributing 10 percent of revenue. The department store segment remained under pressure, with revenue falling 7.61 percent year on year to 284 million yuan and gross margin declining by 4.45 percentage points. The company stated it has no plans for large-scale new store openings and will focus on revamping existing stores and turning around loss-making outlets.
Xinjiang Winka Times DeptNet profit up 46.4% and revenue up 4.98%, driven by supermarket revamp and margin improvement.