Sanjiang Shopping released its 2026 half-year report. First-half operating revenue was 1.82 billion yuan, down 8.3% year on year. Net profit attributable to the parent was 65.76 million yuan, down 28.0% year on year. Net operating cash flow fell 66.4% year on year. Second-quarter revenue was 759 million yuan, down 17.1% year on year. Net profit attributable to the parent was 5.62 million yuan, down 72.7% year on year. Net profit attributable to the parent excluding non-recurring items was a loss of 630,000 yuan. The revenue decline was mainly due to the termination of the Hema business cooperation. Profit at the subsidiary Zhejiang Zhehai Huadi Network Technology Company fell sharply. At the same time, competition in the Ningbo local retail market intensified, and revenue in the Ningbo region fell 9.36% year on year. Among product categories, only textiles grew 9.47%. Revenue from food, fresh produce, and daily necessities fell 12.37%, 3.24%, and 7.43% respectively. Retail gross margin fell 1.61 percentage points year on year. The sharp decline in net operating cash flow was also due to a significant year-on-year reduction in government subsidies received.
Sanjiang Shopping Club Co LtdH1 revenue fell 8.3% and net profit fell 28.0% year on year, with Q2 net profit down 72.7%.
Profit at subsidiary Zhejiang Zhehai Huadi Network Technology Company fell sharply.
