Beijing Jingkelong : UNAUDITED CONSOLIDATED RESULTS FOR THE THREE MONTHS ENDED 31 MARCH 2019

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北京京客隆商業集團股份有限公司

BEIJING JINGKELONG COMPANY LIMITED*

(a joint stock limited company incorporated in the People's Republic of China)

(Stock Code: 814)

UNAUDITED CONSOLIDATED RESULTS

FOR THE THREE MONTHS ENDED 31 MARCH 2019

The board of directors (the "Board") of Beijing Jingkelong Company Limited (the "Company", together with its subsidiaries, the "Group") hereby announces the unaudited consolidated results of the Group for the three months ended 31 March 2019 prepared in accordance with China Accounting Standards. This announcement is made pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the Inside Information Provisions (as defined under the Rules Governing the Listing of Securities on the Stock Exchange).

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UNAUDITED CONSOLIDATED RESULTS
		For the three months
		ended 31 March
		2019	2018
	Note	RMB'000	RMB'000
1. Total operating income	1	3,310,802	3,409,981
Including: principal operating income		3,042,164	3,119,097
Less：operating costs		2,629,537	2,709,155
Tax and surcharges		14,148	15,100
*Selling expenses		491,784	516,585
Administrative expenses		75,377	69,865
*Financial expense		50,024	41,869
Impairment losses on credits		0	0
Add：investment income		108	5,455
Changes in fair value of profit and loss		0	(5,046)
Gains on disposal of assets		(10)	(22)
Other income		2,745	2,966
2. *operating profit		52,775	60,760
Add：Non-operating income		1,078	284
Less：Non-operating expense		769	2,972
3. *Total profit		53,084	58,072
Less：income tax expense		17,925	18,492
4. *Net profit		35,159	39,580
*Net profit attributable to shareholders of the		25,049	25,700
parent company
Profit or loss attributable to minority interests		10,110	13,880

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*the Group has implemented the "Accounting Standards for Business Enterprises No. 21 - Leases" (Finance [2018] No. 35) (hereinafter referred to as the "New Standards") revised by the Ministry of Finance since 1 January 2019, the impact of the implementation of the New Standards on the Group's profit and loss at first quarter is as follows:

			The first quarter of year 2019
	The first		change rate		change rate	Variation
			compared			generated by
	quarter of	New		Former	compared with
	year 2018		with		corresponding	the differece
		accounting	corresponding	accounting		of new and
					period(former
		standard	period(new	standard		former
					accounting
			accounting			accounting
					standard)
			standard)			standards
Selling
expenses
	516,585	491,784	（4.80%）	500,131	（3.19%）	（8,347）
Including:	45,869	86,595	88.79%	42,902	（6.47%）	43,693
depreciation
Rental	58,734	15,373	（73.83%）	67,413	14.78%	（52,040）
expense
Financial	41,868	50,024	19.48%	36,241	（13.44%）	13,783
expenses
Operating	60,760	52,775	（13.14%）	58,211	（4.20%）	（5,436）
profit
Total profit	58,072	53,084	（8.59%）	58,521	0.77%	（5,436）
Income tax	18,492	17,925	（3.07%）	19,749	6.80%	（1,824）
expense
Net profit	39,580	35,159	（11.17%）	38,772	（2.04%）	（3,613）
Net profit
attributable
to	25,700	25,049	（2.53%）	28,182	9.66%	（3,133）
sharehoders
of the parent
company

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Notes：
1. Principal operating income	For the three months
	ended 31 March
	2019	2018
	RMB'000	RMB'000
Retail business
--Hypermarkets	333,402	358,668
--Supermarkets	709,723	784,351
--Convenience stores	90,229	93,671
--Department Stores	8,017	10,989
(including commissions)	6,599	9,295
Total retail principal operating income	1,141,371	1,247,679
Wholesale principal operating income recognized by	2,026,828	2,038,155
Chaopi Group*
Less: Intersegment sales	(131,029)	(181,078)
Add: Sales to franchisees by the company	894	919
Consolidated wholesale principal operating income	1,896,693	1,857,996
Other principal operating income	4,100	13,422
Total principal operating income	3,042,164	3,119,097

* Chaopi Group represents Beijing Chaopi Trading Company Limited and its subsidiaries.

2. Gross profit margin

Retail business of directly-operated hypermarkets, supermarkets and convenience stores

Wholesale business recognised by Chaopi Group including intersegment sales

For the three months ended 31 March

2019 2018

(%)(%)

17.04% 16.94%

10.57%9.33%

3.Three directly-operated convenience stores were set up, a department store and five convenience stores (including 2 directly-operated convenience stores and 3 franchised convenience stores) were closed during the three months end 31 March 2019. The total number of retail outlets was 203 as at 31 March 2019.

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The Board wishes to remind investors that the above figures are based on the Group's unaudited management accounts. Investors are cautioned not to unduly rely on such data.

In the meantime, investors are advised to exercise caution in dealing in the securities of the Company.

By Order of the Board

Beijing Jingkelong Company Limited

Li Jianwen

Chairman

Beijing, the PRC

26 April 2019

As at the date of this announcement, the executive directors of the Company are Mr. Li Jianwen, Mr. Shang Yongtian, Ms. Li Chunyan and Mr. Liu Yuejin; the non-executive directors are Ms. Zhang Yan and Mr. Li Shunxiang; and the independent non-executive directors are Mr. Wang Liping, Mr. Chen Liping and Mr. Choi Onward.

* For identification purpose only

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