Shuyu Civilian disclosed its semi-annual report on August 25. In the first half of 2026, the company achieved operating income of 5.314 billion yuan, an increase of 8.86% over the previous year; net profit attributable to shareholders of listed companies was 25.776 million yuan, a year-on-year decrease of 28.9%; and basic earnings per share were 0.06 yuan. During the reporting period, the company promoted measures such as store operation optimization, rent reduction and control, and digital efficiency improvement, and the main business continued to improve; however, during the reporting period, the amount of bad debt preparation for the company's accounts receivable increased significantly year-on-year, the balance of accounts receivable increased compared to the beginning of the period, and the calculation base for bad debt preparation was expanded accordingly; in addition, the age of some accounts receivable was extended, and a higher accrual ratio was applied to the corresponding payments. The above matters reduced the profit for the current period accordingly.

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