|By ACN Newswire||
|August 13, 2014 11:08 AM EDT||
Hong Kong, Aug 13, 2014 - (ACN Newswire) - Sun Art Retail Group Limited ("Sun Art Retail" or the "Group"; stock code: 6808), a leading hypermarket operator in China, has today announced its 2014 interim results. For the six months ended 30 June 2014, the Group's turnover increased by 7.9% to RMB48,038 million. Profit attributable to equity shareholders of the company increased by 8.5% to RMB1,710 million. Basic earnings per share amounted to RMB0.18.
-- Opened four new hypermarket complexes, of which one was under the Auchan banner and three were under the RT-Mart banner
-- Successfully secured 162 sites to open hypermarket complexes, ensuring sufficient sites reserves for the Group's expansion in the next three years
-- Officially launched the web-site feiniu.com. As of 30 June 2014, 750,000 members had registered, of whom 167,000 were active members. The number of self-operated items available for sale on line amounted to 120,000
For the six months ended 30 June 2014, gross profit was RMB10,523 million, an increase of 14.0% from the corresponding period in 2013. The gross profit margin was 21.9% compared to 20.7% for the corresponding period in 2013. The increase in gross profit margin was a result of a greater increase in turnover of 7.9% as compared to the increase in cost of sales of 6.3%, reflecting the Group's ability to leverage the economy of scale to improve the gross profit margin.
Mr. Bruno Robert Mercier, the Chief Executive Officer and Executive Director of the Group commented, "During the first half of 2014, China's economy maintained steady growth with gross domestic product growing 7.4% while total retail sales growth of consumer goods dropped 60 basis points when compared to the same period of last year."
"While labor costs are on an upward trend, we will continue to enhance employees' productivity through training and optimized work processes. In response to market opportunities, we have set up a new e-commerce business. The website feiniu.com officially commenced operations on 16 January 2014. Additionally, Auchan Store APP tool was officially launched on 27 June, in order to enhance the shopping experience at our stores and create a deeper relationship with our customers. Finally we are happy to have opened a 8,000 square meters hypermarket complex in Inter IKEA Wuxi LIVAT, a 230,000 square meters shopping center." Mr. Mercier added.
During the period under review, the Group opened four hypermarket complexes, of which one was under the Auchan banner and three were under the RT-Mart banner. Of the new stores, two were located in Eastern China and two in Southern China. As of 30 June 2014, the Group had a total of 327 hypermarket complexes in China with a total gross floor area ("GFA") of approximately 9.02 million square meters. Approximately 65.4% of the GFA was operated on leased space, 34.0% of the GFA in self-owned properties and 0.6% of the GFA as contracted Stores.
In particular, the above mentioned Wuxi LIVAT store is the first of three such cooperation projects with Inter IKEA, the next ones will be in Beijing and Wuhan.
As of 30 June 2014, the Group's turnover from sales of goods rose 7.5% to RMB46,690 million, primarily attributable to its continuous business expansion with the opening of new stores.
Besides, Sun Art Retail recorded a RMB1,348 million turnover from rental income, an increase of 23.1%. This increase was primarily attributable to the rise in rentable area from new stores and an increase in rental income from existing stores as a result of better management of tenant mix.
Store Expansion with 162 sites secured and 102 sites under construction
Optimization of Procurement and Merchandise Mix
The Group continued to enhance direct sourcing of fruit, vegetables and dried vegetables and fruits. We introduced more quality yet price competitive fresh products to our customers. At the same time, the Group continued to provide a greater variety of choices to our customers including customized mass consumer products ("MCP") as well as own branded products under the Disney license with high quality and "fun" packaging.
Successfully launched E-Business platform: www.feiniu.com
During the period under review, our e-commerce business, so-called feiniu.com was officially launched and the operations commenced on 16 January 2014. Currently the delivery area of feiniu.com covers Shanghai, Jiangsu Province, Zhejiang Province and Anhui Province, and the delivery area is scheduled to be rolled out successively to other areas across the nation till the end of 2014. As of 30 June 2014, 750,000 members had registered, of which 167,000 were active members. The number of self-operated items available for sale on line amounted to 120,000 with the coverage of categories of fast moving consumer goods ("FMCG"), bazaar, electronics, fashion, maternal and child products and imported products. feiniu.com will continue to introduce new items to expand the range of offerings . A 40,000 square meters warehouse dedicated to feiniu.com was opened in Shanghai Qingpu district. Along with the expansion of delivery areas, feiniu.com will establish warehouses in other areas across the nation. The business of feiniu.com is not yet contributing to the Group's net profit.
Optimization of Supply Chain Management & Operating Efficiency
The Auchan banner recruited more new suppliers to integrate into its Taicang warehouse. Chibi distribution center of the RT-Mart banner will commence operations in October 2014.
Mr. Mercier concluded "Building on the steady growth of the economy in China, the Group will continue to have a multi-pronged approach to its development in China: Both RT-Mart and Auchan banners will continue to open stores in more regions in China, either as leased or property projects; we will also make necessary investment in I.T. systems and marketing to enhance the very positive trends we start to see in our on-line business."
About Sun Art Retail Group Limited
Sun Art Retail is a leading hypermarket operator in China. Sun Art Retail operates its hypermarket business under two recognized banners - "Auchan" and "RT-Mart". As of 30 June 2014, Sun Art Retail had a total of 327 hypermarket complexes in China with a total gross floor area ("GFA") of approximately 9.02 million square meters. The e-commerce business platform of Sun Art Retail: www.feiniu.com officially commenced operations on 16 January 2014.
Source: Sun Art Retail Group Limited
Strategic Financial Relations Limited Veron Ng (852) 2864 4831 [email protected] Brenda Chan (852) 2864 4833 [email protected] Agnes Luo (852) 2864 4851 [email protected]
Copyright 2014 ACN Newswire. All rights reserved.
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Oct. 24, 2016 11:45 AM EDT Reads: 1,302
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
Oct. 24, 2016 11:45 AM EDT Reads: 1,505
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Oct. 24, 2016 10:45 AM EDT Reads: 3,851
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Oct. 24, 2016 10:30 AM EDT Reads: 2,089
SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
Oct. 24, 2016 10:30 AM EDT Reads: 823
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Oct. 24, 2016 10:30 AM EDT Reads: 2,531
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service.
Oct. 24, 2016 10:15 AM EDT Reads: 1,059
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Oct. 24, 2016 10:00 AM EDT Reads: 4,492
Effectively SMBs and government programs must address compounded regulatory compliance requirements. The most recent are Controlled Unclassified Information and the EU’s GDPR have Board Level implications. Managing sensitive data protection will likely result in acquisition criteria, demonstration requests and new requirements. Developers, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by incorporating changes.
Oct. 24, 2016 09:45 AM EDT Reads: 1,685
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Oct. 24, 2016 09:15 AM EDT Reads: 4,671
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Oct. 24, 2016 09:00 AM EDT Reads: 2,311
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Oct. 24, 2016 09:00 AM EDT Reads: 3,478
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Oct. 24, 2016 08:15 AM EDT Reads: 3,146
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
Oct. 24, 2016 08:00 AM EDT Reads: 855
DevOps is speeding towards the IT world like a freight train and the hype around it is deafening. There is no reason to be afraid of this change as it is the natural reaction to the agile movement that revolutionized development just a few years ago. By definition, DevOps is the natural alignment of IT performance to business profitability. The relevance of this has yet to be quantified but it has been suggested that the route to the CEO’s chair will come from the IT leaders that successfully ma...
Oct. 24, 2016 07:30 AM EDT Reads: 16,450