After completing changes in its controlling shareholder and management reshuffle, Ccoop Group Co.,Ltd. is gradually turning around from its debt crisis, signaling a phased recovery to the market.
Recently, Ccoop Group released a Q3 earnings report showing stabilized revenue. The company reported revenue of 1.209 billion yuan and net profit attributable to shareholders of 72.3553 million yuan for the first three quarters. Although revenue declined year-on-year, the sustained positive net profit further solidified the turnaround trend that began in the first half of the year.
Currently, Ccoop Group is undergoing a systemic restructuring, spanning both its business model and regional strategy. With investments gradually materializing, the company aims to chart a recovery path leveraging its supply chain capabilities and policy-backed resources.
**Financial Stabilization and Business Restructuring** In Q3 alone, Ccoop Group’s net profit reached 67.0302 million yuan, marking a staggering 783.66% year-on-year increase compared to the adjusted figures from the previous year.
However, operating cash flow remained negative, indicating that business recovery is still in the investment phase. Meanwhile, investment cash flow turned positive, suggesting initial success in asset restructuring.
The transformation in operations is more visible. Against the backdrop of consumption upgrades and retail innovation, Ccoop Group—deeply rooted in traditional retail for over three decades—is redirecting resources from its department stores, supermarket chains, and commercial real estate into new sectors. Benefiting from a small business base and supply chain advantages, online distribution has become a growth highlight.
E-commerce GMV surged 80.66% year-on-year in the first three quarters. The company’s e-commerce platforms introduced over 100 agricultural products, including Hainan lychees, Qiongzhong green oranges, and Xinjiang Aksu apples, with cumulative sales exceeding 340,000 jin (170 metric tons). Certain products like durians, kiwis, and lychees saw explosive demand, with single-day orders surpassing 43,000 and sales exceeding 6 million yuan, ranking first on Douyin’s fresh produce sales chart.
The company has integrated deeply into the supply chains of platforms like Ele.me, Meituan, JD Daojia, Douyin, Duoduo Grocery, and Xiaoxiang Supermarket, consolidating resources for fresh produce and daily necessities. By adopting bulk procurement and online distribution, it has expanded community group-buying coverage. By September, orders for Shunkelong’s community group-buying business had already exceeded last year’s total.
Meanwhile, efforts to revitalize existing assets are progressing. Two Minsheng department stores in Xi’an are undergoing transformations into a "youth-themed mall" and a "subculture tourism hub," respectively, with foot traffic gradually recovering. In Hainan, Wanghai International is evolving into a premium department store by introducing cross-border luxury goods, capitalizing on free trade port policies.
These moves indicate Ccoop Group’s attempt to break growth bottlenecks in traditional distribution through a dual-drive strategy of "online distribution + scenario operations."
**Southern Regional Strategy Takes Shape** Another notable shift is the company’s regional reorientation. This year, Ccoop Group has clearly pivoted its strategic focus southward, aiming to establish a triangular layout with Hainan as a cross-border trade hub, the Greater Bay Area as a consumer terminal springboard, and central-western regions as logistics nodes.
In July, the company officially established a Hainan division to deepen its participation in the Hainan Free Trade Port and seize development opportunities. In Hainan, Wanghai International is building a high-end consumption node using free trade port policies, while in the Greater Bay Area, Shunkelong is strengthening its instant retail network to penetrate lower-tier markets.
In its interim report, the company positioned the Hainan Free Trade Port as a "strategic pivot" and the Greater Bay Area as a "regional springboard." Through subsidiary Shunkelong’s established supermarket chain presence in the Greater Bay Area, it aims to build an ecosystem of "direct fresh produce sourcing + instant retail + community services." By leveraging regional policies, it seeks to create a "Hainan cross-border trade + Greater Bay Area consumption terminal + central-western logistics" triangle strategy.
Market attention is particularly focused on how this regional shift and channel revitalization are backed by sufficient cash reserves. On the capital front, after the second batch of financial investors’ shares were transferred in May 2025, the controlling shareholder and its affiliates increased their stake to 24.64%, further optimizing the equity structure.
More notably, according to prior announcements, the All-China Federation of Supply and Marketing Cooperatives can provide 2 billion yuan in interest-free loans within three years after the takeover period ends. Ccoop Group stated it would communicate with industrial investors based on actual conditions and agreements.
For now, the clarity in regional strategy and capital injections are jointly propelling Ccoop Group from "stopping the bleeding" to "self-sustaining growth." Whether the company can achieve a performance breakthrough through logistics asset revitalization and department store transformations depends on the execution of its strategic plans.
Comments