咏竹坊

Sun Art pursues life after Alibaba in China’s evolving retail landscape
阿里未能让大润发起死回生 高鑫转策略觅新买家

Alibaba is negotiating with a potential buyer for its majority stake in the operator of RT-Mart hypermarkets, Sun Art said.
大润发超市控股公司高鑫零售表示,阿里巴巴正与潜在买家洽谈出售。

This article only represents the author's own views.

(作者:谭英,本文仅代表作者个人观点)

Hypermarket operator Sun Art Retail Group Ltd. (6808.HK) thought it found a savior in 2017 when e-commerce juggernaut Alibaba (BABA.US; 9988.HK) bought a major stake in the company. Now, seven years later, it seems the hypermarket operator is having second thoughts about the marriage and is doing a bit of shopping itself for a new mate.

2017年被电子商务巨头阿里巴巴(BABA.US; 9988.HK)收购后,超市运营商高鑫零售有限公司(6808.HK)以为自己找到了救星。现在,七年过去了,这家超市运营商似乎对这桩联姻有了别的想法,并开始物色新伴侣。

Investors seemed to like the idea of a pending divorce, based on an intra-day jump of as much as 30.7% in Sun Art’s shares on Oct. 16 as trading resumed after the company announced that a potential buyer had shown interest in purchasing Alibaba’s stake. Adding to the excitement, Sun Art released a positive profit alert the same day.

投资者似乎喜欢结束联姻这个想法,因为10月16日,随着高鑫零售在宣布一名潜在买家有意收购阿里巴巴的股份后复牌,其股价盘中一度上涨30.7%。更令人兴奋的是,高鑫零售当天还发布了正面盈利预警。

The positive alert contrasted sharply with just six months earlier, when Sun Art warned it swung deeply into the red in its fiscal year through March 31 this year, after reporting a modest profit in the year-ago period. It ultimately reported reported a massive 1.6 billion yuan loss ($225 million) for the fiscal year through this March on revenue of 72.5 billion yuan, which was down 13% from the previous year.

这份正面盈利预警与2023年全年业绩形成鲜明对比,公告去年业绩前,曾发盈警称截至3月31日的财年出现严重亏损。公司最终的年度报告,去年亏损高达16亿元,营收725亿元,较上年下降13%。

The news was far better in the latest profit alert, where Sun Art said it expected to record a net profit after tax of 150 million yuan to 200 million yuan for the six months to September, the first half of its fiscal year, compared to a 378 million yuan loss a year earlier. The stock’s big gains the day after the announcement, as trading resumed after a nearly three-week suspension, made Sun Art the third biggest percentage gainer in the Hang Seng Composite Index that day.

最新盈利預告中的消息要好得多,高鑫零售表示,预计截至9月的六个月内,税后净利润将达到1.5亿元至2亿元,而上年同期亏损3.78亿元。公告发布后的第二天,停牌近三周的高鑫零售复牌,股价大幅上涨,成为当天恒生综合指数中涨幅第三大的成分股。

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