Core Viewpoint - The collaboration between BYD and AEON in Japan is expected to transform the domestic automotive distribution framework, which has been predominantly controlled by manufacturers and their affiliated stores [2][5]. Group 1: Collaboration Details - AEON will engage in a "sales intermediary" role, facilitating orders and purchase contracts while collaborating with BYD's exclusive stores to showcase vehicles in their commercial facilities [3]. - BYD aims to increase its exclusive stores in Japan to 100 by 2025, with AEON establishing sales points near these stores [3]. - AEON will independently set prices and promotional activities, offering customers points in AEON's electronic currency "WAON" and discounts on home charger installation, potentially reducing the purchase price by around 1 million yen [3]. Group 2: Market Context - In the first half of 2025, domestic sales of pure electric passenger vehicles in Japan are projected to grow by 3% year-on-year, reaching 28,501 units, marking a return to positive growth after a year [3]. - However, the market share of new electric vehicles, including hybrids and gasoline cars, remains low at around 1%, compared to approximately 20% in overseas markets, indicating challenges in infrastructure development [3]. - As of February, AEON operates about 2,500 electric vehicle chargers across 374 stores, aiming to enhance customer convenience by allowing charging while shopping [5]. Group 3: BYD's Strategic Moves - BYD's expansion in Japan is partly driven by slowing sales in China and increasing competition among EV manufacturers, with inventory reaching 150 billion yuan by the end of March 2025 [6]. - The company plans to launch a pure electric light vehicle specifically developed for the Japanese market by 2026 [6]. - BYD's presence in Japan is growing, with approximately 20% of the EV import market share as of September, indicating a strengthening foothold in the region [5].

Core Insights - The Beijing Xinjiahui Shopping Center officially opened on October 16, marking the exit of Aeon Mall after ten years in Fengtai [1] - The center aims to position itself as a "family gathering place," focusing on parent-child and family consumption to invigorate regional commerce [1][3] - The project has undergone significant renovations, including lighting upgrades and the introduction of new brands, with a brand renewal rate exceeding 95% [1][2] Company Overview - The Xinjiahui Shopping Center is located in the Fengtai Technology Park, a key urban industrial area in Beijing, with a potential customer base of approximately 340,000 people within a 3-kilometer radius [2] - The center's management is under Beijing Xinjiahui Commercial Management Co., a wholly-owned subsidiary of Beijing Nanji Star Investment Management Co., which marks its first large-scale commercial project [2] Market Positioning - The shopping center's strategy includes enhancing service quality and optimizing consumer experiences to become a recognizable commercial landmark in the region [3] - The project will focus on introducing first stores, concept stores, and experiential stores, particularly in the dining sector, to cater to family and business needs [1][2]

Core Insights - The official opening of Beijing Xinjiahui Shopping Center marks the exit of Aeon Mall from the commercial scene in Fengtai after ten years of operation [1] - The shopping center aims to position itself as a "family gathering place," focusing on parent-child and family consumption to invigorate the regional commercial landscape [1][10] Project Development - The renovation of Xinjiahui Shopping Center is accelerating, with the completion of lighting projects and the introduction of new brands, achieving a brand signing rate of over 95% [4] - Facilities are being upgraded to cater to both young and elderly customers, including the installation of age-friendly restrooms and nursing rooms [4] - The project is located in Fengtai Technology Park, which has a population of approximately 340,000 within a 3-kilometer radius, with nearly 70% being core consumers [4] Market Positioning - The shopping center's strategy includes enhancing service quality and optimizing consumer experience, aiming to become a recognizable commercial landmark in the region [10] - The center will focus on introducing first stores, concept stores, and experiential stores, particularly in dining categories [4][10] Industry Trends - The shift in consumer behavior is moving from mere shopping to shared experiences, emphasizing emotional connections and family interactions [11] - The commercial space is evolving towards multi-functional lifestyle experiences, where shopping centers serve as venues for relaxation, social activities, and cultural engagement [5][11] Future Outlook - The shopping center's operational strategy will prioritize long-term engagement and continuous innovation to attract families, ensuring a dynamic and appealing environment [12] - The focus will be on creating emotional value through space design, brand mix, and service logic, rather than just traffic or sales metrics [11][12]

Core Insights - The second Aeon Mall in Hunan, named Aeon Mall (Xiangjiang New District), is set to open by the end of this year, following the successful launch of the first store in September 2024 [1][4] - The mall aims to become a new urban landmark by integrating shopping, leisure, and entertainment with a design philosophy that emphasizes harmony with nature [3][4] Construction and Development - The construction of Aeon Mall (Xiangjiang New District) began in May 2024 and reached its structural completion in December 2024, taking only seven months [4] - The total building area is approximately 230,000 square meters, featuring a four-story shopping center, a six-story parking garage, and a basement [6] Location and Infrastructure - The mall is strategically located in an area with over 580,000 residents, indicating significant commercial potential [6] - It will offer more than 3,000 parking spaces through a combination of underground, surface, and multi-story parking solutions to address common parking challenges [7] Retail and Brand Offerings - Aeon Mall (Xiangjiang New District) plans to host around 250 brands, including cinemas, trendy clothing stores, large dining options, home goods, and unique leisure activities [8] - Notable brands confirmed for the mall include the first CINITY LED cinema in the region and a flagship store featuring a high slide, aimed at attracting younger audiences [10] Customer Experience and Design - The mall's design incorporates ecological, sunlight, and urban cultural elements, creating a sustainable shopping environment [10] - It will feature family-friendly, pet-friendly, and women-friendly spaces, along with a rooftop park to enhance social interactions and emotional needs of customers [10]

Core Insights - The article discusses the competitive landscape of the retail market in Guangzhou, highlighting the simultaneous openings of AEON's Tianhe City store and Yonghui's Changhua Plaza store on October 1, marking a significant shift in retail strategies [1][10][12]. Group 1: Company Strategies - AEON's Tianhe City store has undergone a significant transformation, reducing its size to about one-third of its original footprint, focusing on creating a differentiated shopping experience with fresh and high-quality products [1][5]. - Yonghui's Changhua Plaza store has adopted the "Fat Donglai model," emphasizing product iteration, service upgrades, and employee empowerment, with a new product introduction rate of 69% and an increase in imported goods to 19.5% [7][10]. - Both companies are responding to changing consumer preferences, with AEON targeting urban workers with convenient food options and Yonghui enhancing its fresh food offerings for the upcoming holidays [5][9]. Group 2: Market Trends - The retail sector in Guangdong is shifting from a "scale-oriented" approach to a "value-oriented" model, focusing on quality retail experiences that emphasize service and product differentiation [5][10]. - The article notes a broader trend of traditional retail facing pressure, with both AEON and Yonghui experiencing financial difficulties, prompting them to innovate and adapt their business models [12][15]. - The Guangdong-Hong Kong-Macao Greater Bay Area is highlighted as a key market for retail innovation, with increasing consumer traffic from Hong Kong contributing to the growth potential for both companies [16][17]. Group 3: Financial Performance - AEON reported a revenue of 39.307 billion HKD for the mid-2025 period, with a loss of 2.174 billion HKD, while Yonghui's revenue for the first half of the year was 29.948 billion RMB, down over 20% year-on-year, resulting in a net loss of 2.41 billion RMB [12][15]. - Yonghui has closed 227 underperforming stores and aims to complete the renovation of 300 stores by early 2026, indicating a strategic shift to improve operational efficiency [14][15]. - AEON has opened five new independent supermarkets in 2023, focusing on expanding its presence in the Greater Bay Area and enhancing its store network for better efficiency [12][14].

Core Viewpoint - The opening of AEON STYLE by AEON and the "胖东来模式" by Yonghui on the same day marks a significant competition in the Guangzhou supermarket market, reflecting a shift from traditional large-scale retail to a focus on quality and customer experience [1][2][3] Company Developments - AEON's Tianhe City store has undergone a significant transformation, reducing its size to about one-third of the original, and aims to create a differentiated shopping experience with fresh and high-quality products [1][3] - Yonghui's new store in Zhonghua Plaza has introduced a new product structure with 69% of products being newly added, and an increase in imported goods to 19.5%, focusing on high-quality fresh products for the upcoming holidays [5][10] - Both companies are adapting their strategies to enhance customer experience, with AEON emphasizing fresh and unique offerings, while Yonghui focuses on service upgrades and product iteration [3][5] Industry Trends - The retail sector in Guangdong is transitioning from a "scale-oriented" approach to a "value-oriented" model, with a growing emphasis on quality retail that prioritizes customer experience [3][12] - The competition between AEON and Yonghui illustrates a broader trend in the supermarket industry, where traditional models are under pressure, and innovation is necessary for survival [8][11] - The Guangdong-Hong Kong-Macao Greater Bay Area is seen as a key market for retail innovation, with increasing consumer traffic and a growing demand for high-quality products [11][12]

II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00984 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 260,000,000 | | 0 | | 260,000,000 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 260,000,000 | | 0 | | 260,000,000 | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年9月30日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 永旺(香港)百貨有限公司 | | | 呈交日期: | 2025年10月2日 | ...

Core Viewpoint - AEON (00984.HK) has announced a warehouse lease agreement with Foshan Pufeng Warehousing Operations, extending its rental terms for existing and additional warehouse space to support its retail operations [1] Group 1: Lease Agreement Details - The company has entered into a warehouse agreement as a renewal, effective from December 1, 2025 [1] - The lease for additional warehouse space will commence on either August 1, 2025, or January 1, 2026, depending on circumstances [1] - AEON GD has been leasing the warehouse from the owner since November 14, 2016, for warehouse purposes to support its retail business [1]

Core Viewpoint - AEON has entered into a warehouse agreement to extend its lease and acquire additional warehouse space to support its retail operations, indicating a strategic move to enhance logistics capabilities [1] Group 1: Lease Agreement Details - AEON GD, a subsidiary of AEON, has signed a warehouse agreement with the owner Foshan Pufeng Warehousing Operations to renew the lease of a warehouse unit in the Prologis Shunde Chen Village Logistics Park [1] - The lease renewal will take effect from December 1, 2025, with additional warehouse space to be leased starting either August 1, 2025, or January 1, 2026, depending on circumstances [1] - AEON GD has been leasing the warehouse since November 14, 2016, for the purpose of supporting its retail business [1] Group 2: Background of the Lease - The supplementary lease agreement that AEON GD has been operating under will expire on November 30, 2025 [1] - The new warehouse agreement is a continuation of AEON GD's commitment to its logistics and operational needs in the retail sector [1]

Core Viewpoint - AEON GD, a subsidiary of AEON, has entered into a warehouse agreement to renew its lease and add additional warehouse space, supporting its retail operations [1] Group 1: Lease Agreement Details - The warehouse agreement was signed with the owner Foshan Pufeng Warehousing Operations, effective from December 1, 2025 [1] - The additional warehouse lease will commence on either August 1, 2025, or January 1, 2026, depending on circumstances [1] - AEON GD has been leasing the warehouse since November 14, 2016, to support its retail business [1] Group 2: Lease Extension Context - The supplementary lease agreement will expire on November 30, 2025, prompting the need for the new warehouse agreement [1] - The new agreement extends the leasing terms and includes the leasing of additional warehouse space [1]