Wangfujing(600859) 证券时报网·2025-02-14 13:23Core Viewpoint - Wangfujing is actively expanding its duty-free business and optimizing its operational structure through a joint venture with Wushang Group, aiming to enhance its market presence and competitiveness in the retail sector [1][2]. Group 1: Company Developments - Wangfujing has established a joint venture with Wushang Group to operate duty-free stores in Wuhan International Plaza, marking a strategic move to enhance its duty-free offerings [1][2]. - The company is in a critical phase of business model iteration and is focusing on optimizing its store structure and operational quality to better meet consumer demands [1][3]. - Wangfujing plans to accelerate the preparation of new duty-free stores and shorten the cultivation period while reducing costs to improve operational efficiency [3]. Group 2: Industry Context - The retail sector is currently under pressure, with companies adjusting their strategies through project closures, business model changes, and digital development to improve performance [1][2]. - Government policies, including a significant consumption subsidy program, are expected to stimulate the retail industry, with an estimated 500 billion yuan allocated for consumer goods subsidies in 2025 [4]. - Recent data indicates a strong growth trend in consumer spending during the Spring Festival, with key retail and catering enterprises seeing a 4.1% increase in sales compared to the previous year [4].