Core Viewpoint - Traditional supermarkets are facing challenges such as declining foot traffic, homogenized competition, and rising costs, leading to a shift in consumer behavior towards seeking identity and emotional value in their purchases. Enhancing customer experience and activating new consumption potential is essential for survival and growth. Company Summary - Chongqing Department Store (600729) is leveraging its century-old brand, omnichannel layout, and scene innovation capabilities to explore new consumption growth paths in the context of the secondary economy, providing a practical model for integrating traditional retail into the domestic cycle [1][6]. - The "Dream Factory" project, launched on December 11, 2025, aims to create a commercial complex that integrates shopping, entertainment, dining, and immersive secondary experiences, positioning itself as the fourth major brand of the department store division [1][3]. Location and Infrastructure - The "Dream Factory" is strategically located in the core commercial area of the Liangjiang New Area, specifically the Guanyinqiao business circle, which is expected to create a full-scenario consumption linkage with existing core stores like the Liberation Monument Chongqing Department Store [3]. - The project will provide essential infrastructure for secondary consumers, including a stage for performances, co-creation areas for hand-drawing, free photography zones, and dance practice areas, enhancing the overall consumer experience [3][5]. Brand and Community Engagement - Chongqing Department Store is expanding its brand influence by leveraging its well-known trademarks and collaborating with leading domestic animation IPs to create a legitimate consumption ecosystem, thereby increasing conversion rates [5]. - The company is enhancing user experience and sense of belonging through online topic interactions and offline community engagement, such as hosting fan creation exhibitions and cosplay competitions, and collaborating with university animation clubs [6]. Industry Insights - Research indicates that by 2025, domestic comic sales will account for over 55% of the market, surpassing overseas IP for the first time. By 2026, the number of secondary users in China is expected to grow to 520 million, with the secondary content industry projected to reach approximately 120 billion yuan [6].

Core Viewpoint - The commercial retail sector in A-shares has underperformed significantly this year, with a need for a rebound as indicated by the low growth rates compared to other sectors [1] Industry Summary - The Shenwan Commercial Retail Index has only increased by 4.85% as of December 9, which is considerably lower than the growth rates of technology and non-ferrous metals sectors, as well as the overall market performance [1] - There is a strong demand for a rebound in the commercial retail sector due to its underperformance [1] Company Summary - Leading companies in the sector, such as Gongxiao Daji and Yonghui Supermarket, have seen declines exceeding 25% this year, while companies like Yuyuan and Juran Smart Home have dropped over 10% [1] - The median growth rate among over 40 commercial retail component stocks is less than 4% [1] - Among these component stocks, 15 have received ratings from two or more institutions, indicating a level of interest; Xiaogoods City, Yonghui Supermarket, and Chongqing Department Store have garnered attention from more than 10 institutions [1]

Group 1 - Chongqing Department Store (600729) had a financing buy of 11.3174 million yuan and a financing repayment of 7.5301 million yuan on December 8, resulting in a net financing buy of 3.7874 million yuan, with a financing balance of 191 million yuan [1] - Over the past three trading days, the company has seen a cumulative net financing buy of 7.3957 million yuan, with 12 out of the last 20 trading days showing net financing buys [1] - The financing balance on December 8 represented 3.73% of the company's circulating market value [2] Group 2 - On December 8, the total margin trading balance was 194 million yuan, reflecting an increase of 1.97% from the previous day [4] - The margin trading balance increased by 3.7504 million yuan on December 8, following increases of 2.5758 million yuan on December 5 and 1.0449 million yuan on December 4 [4] - The margin trading balance has shown fluctuations, with a decrease of 3.1343 million yuan on December 2 [4] Group 3 - On December 8, the company had a short selling of 1,600 shares and a repayment of 2,000 shares, resulting in a net short selling of 400 shares, with a remaining short selling volume of 100,700 shares [3] - The short selling balance on December 8 was 2.6806 million yuan [3]

Core Viewpoint - The company, Chongqing Department Store Co., Ltd., is implementing a buyback and cancellation of restricted stock due to the achievement of company-level performance targets, while individual performance assessments for some incentive recipients did not meet the "excellent" standard [1][5]. Group 1: Buyback and Cancellation Details - The decision for the buyback and cancellation was approved by the company's board and supervisory board on September 12, 2025, and was disclosed in various financial publications [2]. - The company will repurchase and cancel a total of 22,500 shares of restricted stock held by four incentive recipients whose individual performance assessments were rated as "good" [7][8]. - Following the buyback, the total number of shares will be reduced by 22,500, resulting in no remaining restricted stock that has not been released from the lock-up period [7][8]. Group 2: Performance Assessment Criteria - The performance assessment for the incentive plan spans from 2022 to 2024, with evaluations conducted annually based on two key indicators: net profit growth rate and weighted average return on equity [4][5]. - The company-level performance targets have been achieved, while individual assessments for four recipients were rated as "good," allowing for an 85% release of their restricted stock [5][6]. Group 3: Legal and Compliance Aspects - The buyback and cancellation process complies with relevant laws and regulations, including the Management Measures for Stock Incentives and the company's incentive plan [6][8]. - The company has fulfilled necessary decision-making procedures and information disclosure requirements, ensuring that the rights of incentive recipients and creditors are not harmed [8][9].

（编辑 袁冠琳） 证券日报网讯 12月4日晚间，重庆百货发布公告称，公司回购注销股权激励计划第三个解除限售期限制 性股票个人层面绩效考核结果为良好的4名激励对象所持尚未解除限售的公司限制性股票22，500股，并 减少公司股本总额22，500股。 ...

证券代码：600729 证券简称：重庆百货 公告编号：临 2025-054 重庆百货大楼股份有限公司 股权激励限制性股票回购注销实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 1. 限制性股票的解除限售期及各期解除限售时间安排 回购注销原因：重庆百货大楼股份有限公司（以下简称"公司"）2024 年度公司层面业绩考核已成就，个人层面部分激励对象绩效考核未达到优秀。根 据中国证监会《上市公司股权激励管理办法》（以下简称"《管理办法》"）及《重 庆百货大楼股份有限公司 2022 年限制性股票激励计划（草案）（修订稿）》（以下 简称"《限制性股票激励计划（草案）》"）的有关规定，公司回购注销股权激励计 划第三个解除限售期限制性股票个人层面绩效考核结果为良好的 4 名激励对象 所持尚未解除限售的公司限制性股票22,500股，并减少公司股本总额22,500股。 本次注销股份的有关情况 | 回购股份数量 | 注销股份数量 | | | | 注销日期 | | | | --- | --- | --- | --- | -- ...

北京市金杜律师事务所 关于重庆百货大楼股份有限公司 2022 年限制性股票激励计划 回购注销部分限制性股票相关事项的法律意见书 致：重庆百货大楼股份有限公司 北京市金杜律师事务所（以下简称本所）受重庆百货大楼股份有限公司（以 下简称公司或重庆百货）委托，根据《中华人民共和国公司法》（以下简称《公 司法》）、《中华人民共和国证券法》（以下简称《证券法》）、中国证券监督 管理委员会（以下简称中国证监会）《上市公司股权激励管理办法》1（以下简称 《管理办法》）等法律、行政法规、部门规章和其他规范性文件以及《重庆百货 大楼股份有限公司章程》（以下简称《公司章程》）、《重庆百货大楼股份有限 公司 2022 年限制性股权激励计划（草案）》及其修订稿（以下简称《激励计 划》）的有关规定，就公司 2022 年限制性股票激励计划（以下简称本激励计 划）拟回购注销部分限制性股票（以下简称本次回购注销）所涉及的相关事宜， 出具本法律意见书。 本所依据《证券法》《律师事务所从事证券法律业务管理办法》和《律师事 务所证券法律业务执业规则（试行）》等规定及本法律意见书出具日以前已经发 生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责 ...

Core Insights - Retail companies are actively adapting to consumer upgrade trends and focusing on building differentiated competitive advantages [1] Group 1: Digital Transformation - Digitalization is a key focus for most retail companies, with gradual improvements in store operations, reducing display workload, and significantly lowering stockout rates [2] - Chongqing Department Store is integrating digitalization with instant retail, aiming for a "store + warehouse" model to enhance regional penetration and provide fast delivery services [2] Group 2: Consumer Technology - Consumer technology is a closely monitored area for retail companies, with a focus on projects that have strong market validation and commercialization capabilities [3] - Companies are leveraging high-end member resources and regional advantages to invest in sectors like pet care and specialized medical chains [3] Group 3: Supply Chain Transformation - The retail industry is undergoing supply chain changes to enhance operational efficiency and product competitiveness, with a consumer-centric approach [4]

Group 1 - The company Chongqing Department Store (SH 600729) announced that its 20th board meeting of the 8th session was held on November 28, 2025, via telecommunication to review the proposal for amending the "Audit Committee Work Regulations" [1] - For the fiscal year 2024, the revenue composition of Chongqing Department Store is as follows: Supermarket segment accounts for 35.97%, Automotive trade segment for 25.02%, Electrical appliances segment for 19.27%, Department store segment for 10.33%, and Other businesses for 8.27% [1] - As of the report date, the market capitalization of Chongqing Department Store is 12.1 billion yuan [1]

第二章 人员组成 第三条 审计委员会由三名董事组成，审计委员会成员应当为不在上市公司 担任高级管理人员的董事，其中：独立董事应当过半数，由独立董事中的会计专 业人士担任召集人。 第四条 审计委员会委员由董事长或者二分之一以上独立董事或者全体董 事的三分之一提名，并由董事会选举产生。 董事会审计委员会工作规程 （2021 年 3 月修订，2023 年 10 月修订，2025 年 10 月修订） 第一章 总则 第一条 为建立有效的内部控制，提供真实、准确、完整的财务报告，根据 《中华人民共和国公司法》、《上市公司治理准则》和《公司章程》及其他有关规 定，公司设立董事会审计委员会（以下简称"审计委员会"），并制定本工作规程。 第二条 审计委员会是董事会下设的专门工作机构，主要负责监督、评估公 司外部审计工作，指导公司内部审计工作，促进公司建立有效的内部控制，向董 事会报告工作并对董事会负责。 重庆百货大楼股份有限公司 第五条 审计委员会设主任委员一名，由董事会指定一名独立董事担任，负 责召集和主持审计委员会会议。主任委员须具备会计或财务管理相关的专业经验。 当主任委员不能履行职责时，由过半数的审计委员会成员共同推举 ...