Business Intelligence on Retailing, Franchising, and Consumerism in China

Beijing Jingkelong's Net Profit Down 5.7% In 2009

Beijing-based supermarket retailer Jingkelong has published its annual financial report for 2009, stating that it made a net profit of CNY147 million in 2009, a year-on-year decrease of 5.7%.

The report also said that the company's operating revenue in 2009 was CNY6.691 billion and its gross profit was CNY931 million, both maintaining the same levels as in 2009.

Jingkelong said that the main reason for the decrease in net profit was the decline in performance in the first half of 2009 when the company's wholesale business decreased by 10% year-on-year due to the economic depression. This led to a 8% decrease of its net profit in the first half of 2009 and its total income and gross profit also decreased by about 3% year-on-year during that period.

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