Wushang Group's revenue in 2025 is 6.08 billion yuan, with a net profit of 180 million yuan; the supermarket format drags down performance.

2026-04-11 14:34:48

Abstract generation in progress

Economic Observer Network: Wushang Group’s revenue in 2025 was 6.08 billion yuan, down 9.31% year over year; net profit attributable to the parent company was 180 million yuan, down 16.46% year over year. However, non-recurring net profit was 145 million yuan, up 4.91%, reflecting an improvement in the profitability of the core business.

Financial Report Analysis

The decline in performance is mainly due to the drag from the supermarket business format. Revenue from this segment was 1.616 billion yuan, down 14.68% year over year. During the year, 10 stores were closed. Revenue from the shopping mall segment was 3.981 billion yuan, up 2.29% year over year, showing the resilience of the core business.

Recent Events

Wushang Dream Times’ tenant stall rental occupancy rate reached 96%, with average daily foot traffic of about 110,000 people. Revenue and net profit have continued to grow year over year for multiple consecutive quarters. Nanchang Wushang MALL introduced international high-end luxury brands; in the first half of 2025, both revenue and foot traffic grew steadily, and losses narrowed significantly. The first hotel project, Nanchang Wushang InterContinental Hotel, has started soft furnishings, and it plans to open within 2026. It is expected to improve performance. Xiangyang Xin Wushang MALL started construction in February 2026, with an investment of 1 billion yuan. It is planned to open in October 2027, supporting the company’s regional layout. The major shareholder, Yintai Group, reduced its holdings due to capital turnover needs. The company clarified that this is unrelated to performance, and emphasized that information disclosure is compliant. The group is advancing light-asset expansion—for example, the Huangmei project opened in September 2025. The supermarket business segment is accelerating adjustments. The WS Jiangdun member store and the community lifestyle complex “WS Jiangdun Life Home” have been launched, exploring a membership model and in-house brands.

Stock Recent Trend

As of the latest market update on April 7, 2026, Wushang Group’s share price was 8.34 yuan, up 0.48% on the day, but down 3.70% cumulatively over the past 5 days. Between March 31 and April 3, the share price fell by 4.16% within its range. Main-asset net capital outflow was 1740.53 million yuan, reflecting short-term market pressure. Technical indicators show a 20-day pressure level of 9.31 yuan and a support level of 8.06 yuan; the stock is currently in a period of consolidation.

Institutional Views

Institutional views are neutral, with a comprehensive target price of 9.20 yuan, implying 10.84% upside versus the latest price. In 2026 forecasts, revenue is expected to grow by 5.91% and net profit to grow by 34.68%. Focus is on adjustments to the supermarket business segment and the results of new projects.

The above content is compiled from publicly available information and does not constitute investment advice.

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