Shanghai Bailian's profit surges on REIT income, plans further expansion

Shanghai Bailian Group (SSE:600827) announced a surge in net profit attributable to shareholders, reporting CNY 1.57 billion for 2024, a nearly 300% increase from the previous year, primarily driven by investment gains from the newly issued "Huarun Bailian Consumption REIT". The company, a major retail conglomerate in China, will propose a cash dividend of CNY 0.265 per share at the upcoming AGM.