Core Insights - The industry is entering an era of "good houses," with companies focusing on improving delivery quality and services [1][2] - Vanke reported a revenue exceeding 340 billion, achieving significant results in streamlining operations and leading in various sectors [1] - Vanke successfully delivered over 180,000 homes in 2024 despite multiple challenges [2] Group 1: Company Performance - Vanke achieved a revenue of over 340 billion, ranking first in large transaction scale and sales area in the comprehensive residential sector [1] - The company maintained robust growth in its operational service business and was the first in the industry to achieve breakthroughs in multi-track REITs [1] - Vanke's delivery quality received professional recognition, with multiple projects awarded the national-level "Guangsha Award" [1] Group 2: Delivery and Customer Engagement - Vanke invited nearly 40,000 homeowners to visit construction sites, enhancing transparency in the construction process [1] - The company pioneered 360° panoramic photography to showcase indoor construction progress to customers [1] - Over half of Vanke's projects achieved "delivery and certification" simultaneously, ensuring customer satisfaction [1] Group 3: Technological Innovation - Vanke has obtained nearly 300 national invention patents, with key technologies recognized at top international AI academic conferences [2] - The introduction of a large model for blueprints improved blueprint search efficiency by over six times and verification efficiency by 15 times [2] - The application of technology has effectively reduced blueprint and construction issues, promoting the construction of "good houses" [2] Group 4: Market Outlook - Industry experts believe that Vanke's ability to deliver over 180,000 homes in 2024 amidst challenges indicates a strong commitment to high-quality delivery [2] - With support from major stakeholders and favorable policies, Vanke is expected to return to a healthy development trajectory as the market gradually recovers [2]

3月25日下午，平安产险福州中心支公司与福州市公安局交通警察支队、福州市第一总医院联合举办"警 保医"三方联动合作签约仪式，正式创建"信息共享、联动救援、赔付前置、一站服务"的新型"警保 医"联动工作模式，旨在打破信息壁垒，通过高效联动机制，实现交通事故处理、医疗救治和保险理赔 的无缝衔接，最大限度地减少交通事故对群众生活的影响。 "警保医联动，是构建快速响应'安全网'的重要实践。"福州市公安局交通警察支队副支队长陈纬指 出，"122+120+保险"联动平台建立后，交警部门将实时推送事故现场信息，联动保险公司与医疗机构 启动应急响应预案，实现事故信息实时共享，优化交通事故伤员转运绿色通道，确保医疗资源第一时间 抵达。 "警医保的联动，实现了生命救治'加速度'。"福州市第一总医院党委副书记、院长李卫东表示，本次合 作是对前期"警医协作"成功经验的深化，更是践行"人民至上"理念的生动实践。三方将以信任为基石深 化信息互通，确保每一起救治任务高效协同，以能力为支撑，依托多院区协同优势，持续优化救治流 程，以协作促长效，构建"应送尽送、应收尽收、应保尽保、应治尽治"的闭环机制。 "平安产险将全力为车主、事故伤者提供' ...

"没想到平安的员工这么认真负责，为我的事跑了一趟又一趟，就像自家孩子一样，真的非常感谢小李 同志，非常感谢平安保险！"3月25日，刚出院的黄大爷赶着定制了一面提写着"保险救星，诚信服务"的 锦旗，专程送平安产险南平中心支公司建阳营销服务部，将其郑重交到理赔员李毓标的手中。 细节体现服务质量，锦旗彰显专业能力。黄大爷送来的这面锦旗，承载的不只是对理赔员李毓标的高度 认可，也是对平安产险南平中心支公司一直以来坚守"以客户为中心"服务理念的有力褒奖。 持续优化服务细节，聚焦适老化服务细节，以更人性化的服务传递保险温度，平安产险人一直在行动。 (邱丽 文/图) 2月15日，一辆平安产险的标的车不慎发生交通事故，造成三者黄大爷的头部和脚部受伤。黄大爷的孩 子们远在异地，而他自己同时还要照顾患病妻子与高龄母亲。这一突发事件给他造成了不小的困扰，年 过六旬的他面对医院治疗费用和索赔流程手足无措。 2月17日，平安产险南平中心支公司客服理赔部理赔员李毓标接手本案，在与黄大爷交流过程中，获悉 其家庭情况后，主动化身"临时家人"，不仅从材料整理到流程协调，逐一解决黄大爷解决问题，更全程 陪同黄大爷收集医院资料，于17日当天即完成 ...

为了进一步提高公众对于双相情感障碍的认知，京东互联网医院精神心理中心还联合上海市精神疾病临 床医学中心，共同举办"今天的力量，明天的希望"世界双相情感障碍日名医直播。由国际双相障碍学会 (ISBD)常务理事、世界双重诊断协会(WADD)执委、上海市精神疾病临床医学中心办公室主任、上海市 精神卫生中心陈俊教授牵头，邀请多位业内知名专家，面向大众进行专业知识讲解，旨在减少外界对于 疾病误解和歧视。 3月30日世界双相情感障碍日到来之际，京东互联网医院精神心理中心联合全国多家顶级医疗机构及知 名专家，共同发起了一系列针对双相情感障碍的科普宣传和义诊活动，旨在提高公众对双相情感障碍的 认知，助力疾病的早期识别与科学治疗。 双相情感障碍，指的是"两个极端情绪的障碍"，是一种以情绪极端波动为特征的精神疾病。患者可能在 躁狂、轻躁狂和抑郁状态之间反复切换，情绪波动频繁且剧烈。这种波动可能表现为一天之内情绪的高 低起伏，也可能持续数天或数周；同时由于其症状的复杂性，常常被误诊或漏诊。 今年世界双相情感障碍日，京东互联网医院精神心理中心联合北京大学第六医院、上海市精神卫生中 心、中南大学湘雅二医院、广州医科大学附属脑科医院等双 ...

Group 1 - The Nanjing municipal government held a press conference to explain seven policies aimed at promoting the stable and healthy development of the real estate market [1] - Jiangsu Bank has upgraded its "1+3" one-stop special financial service for home purchases, focusing on post-purchase home decoration and related consumer needs [1] - The bank's new service includes credit consumption loans, subsidy application services, and old-for-new activities, creating a full-process closed loop for home buying, decoration, and home appliances [1] Group 2 - Jiangsu Bank launched the "Qingyidai" housing loan product targeting young groups, offering low down payments, low interest rates, low monthly payments, and flexible repayment terms [2] - The "Qingyidai" product allows customers to negotiate the principal repayment amount for the first five years, significantly reducing initial repayment pressure [2] - The bank also introduced a consumption loan product for home decoration, utilizing a digital decision-making model to provide personalized pricing for customers [2] Group 3 - Jiangsu Bank's home decoration and household goods old-for-new promotion has seen significant participation from residents, offering discounts for purchases over 5000 yuan through the bank's credit card [3] - The bank plans to continue its consumer stimulation initiatives in line with national policies, enhancing financial product innovation and service quality [3] - The focus will be on providing personalized credit service solutions to boost effective demand and support high-quality economic development [3]

Group 1 - The government work report emphasizes the importance of advancing rural revitalization and accelerating agricultural modernization [1] - The central document focuses on utilizing the "Thousand Villages Demonstration, Ten Thousand Villages Rectification" project experience to effectively promote comprehensive rural revitalization [1] - SPD Bank actively responds to national policies by launching a "5+4+N" financial service system for rural revitalization, focusing on five key areas: agricultural industry chain, agricultural market, urban-rural integration, agricultural technology innovation, and basic agricultural support [1] Group 2 - SPD Bank's Kunming branch has implemented a digital cash management system for grain trading, enhancing transaction efficiency and providing services to nearly 900 members with a total transaction settlement exceeding 6 billion [2] - The Lanzhou branch has customized digital cash management services for the local rural property trading center, serving 8,700 registered users with a transaction volume exceeding 140 million since its launch [2] - SPD Bank provides cash management services for various agricultural product trading markets, supporting smooth transactions in agriculture, forestry, animal husbandry, and fishery sectors [2] Group 3 - SPD Bank has developed the "Pu Zhanggui" smart management platform to enhance the efficiency of agricultural markets, simplifying financial management processes for vendors [3] - The platform addresses challenges in stall rental payments and offers innovative services such as bill collection and QR code payments [3] - The bank also provides "Hui Account" services to farmers in agricultural markets, reducing fees to stimulate market activity [3] Group 4 - SPD Bank focuses on empowering agricultural supply chain construction by addressing pain points in industry development [4] - The Zhengzhou branch provided 520 million in funding support for a large-scale aquatic product logistics project, including various facilities [4] - The bank offers supply chain credit enhancement and financing support to downstream merchants, promoting collaboration within the agricultural supply chain [4] - As of January 2025, SPD Bank's agricultural loan balance has increased by 14% year-on-year, demonstrating its commitment to rural revitalization [4]

北京时间3月27日至28日，第23届世界美容抗衰老大会(AMWC Monaco 2025)在摩纳哥举行。京东美妆 与修丽可品牌共同参加大会，带来中国市场的创新实践。长期以来，京东美妆始终致力于以丰富的产 品、优质的服务与精准的用户洞察，助力国际美妆品牌实现中国市场增长，本次大会凭借与修丽可合作 期间的卓越增长表现，获颁"全球增长战略合作伙伴奖"。为给消费者、品牌合作伙伴带来更全面、丰富 的抗衰消费趋势指南，双方还联合发布《抗衰趋势洞察白皮书》(以下简称"白皮书")，聚焦中国消费者 多元化抗衰需求，带来抗衰一站式解决方案，为更多品牌合作伙伴提供了更科学、精准的抗衰趋势参 考。 亮相国际抗衰大会 京东美妆以创新实践赋能品牌高增长 AMWC世界美容抗衰老大会自2003年创立以来，已逐渐发展成为集结全球医美精英、推动行业创新与 发展的国际盛会。京东美妆此次参会，分享在抗衰领域的创新实践与增长思路，为更多消费者、品牌合 作伙伴带来更优质的商品和服务，以及更多元的合作模式。 (图为：京东美妆采销在摩纳哥AMWC世界美容抗衰老大会现场直播) 近年来，京东美妆持续保持高增长。京东销售数据显示，京东服饰美妆复购率长期保持两位数 ...

2024年9月起，消费市场在国家以旧换新政策推动下加快回暖，奥维云网数据显示，2024年四季度家电 全品类零售额同比增长24.4%。苏宁易购率先响应、承接以旧换新补贴活动，依托全国性店面布局和本 地化零售服务能力，四季度全渠道营业收入同比增长34.35%，公司以旧换新业务转化率高于行业水 平。2025年，商务部等四部门将享受以旧换新补贴的家电品类从8类增至12类，苏宁易购表示，将积极 把握这一市场机遇，进一步聚焦主业，围绕商品丰富、场景升级、服务提升等方面，持续强化自身核心 能力建设，为企业的中长期发展打下基础。 3月28日晚间，苏宁易购发布2024年年度报告。报告显示，公司全年实现归属于上市公司股东的净利润 6.1亿元，同比增长114.93%，经营活动产生的现金流量净额45.86亿元，同比增长57.56%，自2020年以 来首次实现全年盈利。其中，四季度门店销售规模同比增长64.6%，零售服务商战略深化显效。 线下渠道经营质量持续优化。2024年，苏宁易购推动门店模型的全面优化升级，可比门店销售收入及坪 效分别同比增长2.8%、1.17%，尤其四季度表现强劲，可比门店收入、坪效同比分别增长64%、62%。 ...

Core Viewpoint - In 2024, the dairy industry leader, Youran Dairy, achieved a counter-cyclical growth performance, demonstrating strategic resilience and efficient operations, with a revenue of 20.096 billion yuan, a year-on-year increase of 7.5% [1] Financial Performance - Youran Dairy reported a significant reduction in net profit loss by 34.2%, with a cash EBITDA growth of 38.3% to 5.325 billion yuan, indicating improved profitability [1] - The company achieved a positive free cash flow of 240 million yuan due to increased operating cash flow and reduced capital expenditures [1] - The gross profit margin improved to 28.8%, up by 4.9 percentage points, while the interest-bearing debt ratio decreased by 1.2 percentage points [2] Operational Efficiency - The company enhanced operational efficiency and cost control through technology empowerment and lean management, benefiting from its full industry chain business model [2] - Youran Dairy's raw milk business revenue reached 15.1 billion yuan, a year-on-year increase of 17%, with a gross margin of 32.7%, up by 4.1 percentage points [3] - The annualized yield per cow increased by 5% to 12.6 tons, with the company operating 97 modern farms [3][4] Product Innovation and Market Expansion - Youran Dairy launched new organic and goat milk farms, expanding its specialty fresh milk product line to eight varieties, which are less affected by raw milk price fluctuations and have high added value [5] - The company introduced innovative products in its ruminant feed solutions, achieving a gross margin of 16.8% in this segment [7] - The feed business saw a 44.5% year-on-year increase in sales volume, driven by new product launches and market expansion efforts [7][8] Research and Development - Youran Dairy significantly increased its R&D investment by 76%, with a team of nearly 400 people, resulting in 12 new patents and a total of 91 core patents [9] - The company developed advanced breeding technologies, including sex-controlled embryos, which enhanced its breeding efficiency and economic benefits [8][10] Industry Outlook - The dairy industry is undergoing profound changes, but favorable policies and a recovering consumer market present significant growth potential for Youran Dairy [11] - Analysts are optimistic about the company's prospects, anticipating benefits from the reversal of the raw milk cycle and potential profit growth [11]

Core Viewpoint - China Yongda Automobile Services Holdings Limited reported a decline in revenue and profit for the fiscal year ending December 31, 2024, amid a challenging automotive market, but maintained a strong focus on shareholder returns through dividends and share buybacks [1][12]. Financial Performance - The company recorded revenue of RMB 634.20 billion, a decrease of 14.6% from RMB 742.95 billion in the same period last year [1] - Gross profit was RMB 52.73 billion, down 21.2% year-on-year [1] - Net profit attributable to the company’s owners was RMB 2.01 billion, with basic earnings per share at RMB 0.11 [1] - The total dividend per share for the year was RMB 0.128, representing 120% of net profit attributable to owners [1] Operational Metrics - Inventory balance stood at RMB 41.50 billion, a decrease of 4.9% from the end of 2023, with inventory turnover days at 25.8 days [2] - Cash generated from operating activities was RMB 15.18 billion, and the net debt ratio was 10.2%, down 2.0 percentage points from the end of 2023 [2] New Car Sales - New car sales reached 171,236 units, generating revenue of RMB 494.55 billion [3] - The gross margin for new car sales in the second half of 2024 improved by 0.19 percentage points to 1.83% [3] - New car turnover days were maintained at a healthy level of 25.2 days [3] New Energy Vehicle (NEV) Business - The company sold 18,485 units of independent NEV brands, with a significant portion coming from direct sales [4] - The average selling price of new cars increased from RMB 24.3 million in 2023 to RMB 28.3 million in 2024 [4] - NEV sales and after-sales services experienced rapid growth, supported by strong demand for high-value models [4] After-Sales Services - After-sales revenue for independent NEV brands reached RMB 31.01 million, a year-on-year increase of 95.2% [5] - The average revenue per vehicle for after-sales services was RMB 3,114, up 27.1% year-on-year [5] - The number of after-sales customers for independent NEV brands grew by 134.3% to 57,400 [5] Used Car Business - The used car transaction volume was 74,969 units, a decline of 19.4% year-on-year [8] - The company maintained a healthy inventory turnover and a stable new-to-used car ratio of 43.8% [8] - The average revenue per used car sold was RMB 104,000, with a gross margin of 5.59% [8] Network Changes - The company optimized its network by closing 18 underperforming stores and opening 12 new outlets in 2024 [10] - The focus is on enhancing brand representation and operational efficiency through strategic adjustments [10] Future Outlook - The company aims for NEVs to account for 50% of total new car sales by 2026, while luxury vehicles are projected to represent 40% [11] - Plans include expanding into the battery recycling industry and developing smart robotics for future operations [11][12] - The company remains committed to shareholder returns and sustainable growth amid market challenges [12][13]