FF301 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7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 建業新生活有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年8月6日 I. 法定/註冊股本變動 | 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) | 09983 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.01 HKD | | | 50,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.01 HKD | | | 5 ...

Core Insights - The opening of Zhuzhou Shennong Wanda Plaza, covering an area of 320,000 square meters, marks a significant milestone for Wanda's expansion in Hunan province [1][3] - Wanda's presence in Hunan has grown to 16 plazas over 12 years, managing a total area of 2.3 million square meters and collaborating with over 2,500 brands [1][3] - The number of brands achieving sales exceeding 10 million has increased by 19% year-on-year, indicating strong commercial vitality in the region [1] Company Developments - Zhuzhou Shennong Wanda Plaza is positioned as a "mall in the park," leveraging the cultural and ecological attributes of Shennong Square [3] - The project aims to attract a high-quality customer base of 210,000 within a 1.5-kilometer radius, promoting local consumption and tourism from the Changsha-Zhuzhou-Xiangtan area [3] - The plaza has signed partnerships with 20 brands, with over 70% being first stores in Zhuzhou, and plans to introduce more than 200 major stores and unique business formats [3] Strategic Focus - The project will capitalize on three main advantages: the aggregation of first stores, integration of cultural tourism, and enhancement of customer experience, positioning itself as a key driver for regional consumption upgrades [3] - The General Manager of Wanda's Changsha City Company emphasized the commitment to continue being an industry benchmark and to create more value for consumers and partners in the Hunan market [3]

Group 1 - The core event is the launch of the Chongqing Fengjie Wanda Plaza, which is seen as a significant milestone in the commercial development of Fengjie County and a key initiative for building a regional consumer center [3][5] - The opening of Wanda Plaza is expected to enhance the city's commercial capacity, optimize consumer experience, and unleash development potential, with the local government providing strong policy support and a favorable business environment [3][5] - The Wanda Plaza is set to focus on high-quality retail, first-time dining experiences, and diverse family activities, aiming to create a vibrant commercial landmark in Fengjie with a core emphasis on "dining + entertainment" [5][7] Group 2 - The project has been actively developed by Feiyang Group since its initiation in 2022, showcasing a commitment to meticulous operations in collaboration with Wanda [7] - Local business representatives express optimism about the market potential in Fengjie, highlighting the advantages of Wanda Plaza's established commercial ecosystem and large customer flow for effectively reaching consumers [9] - A total of 20 well-known brands, including Jiahui Supermarket and Wanda Cinemas, signed agreements during the event, marking a significant step in the establishment of the Wanda Plaza [11]

Core Viewpoint - Digital empowerment has become the core driving force for the high-quality development of physical commerce, reshaping growth models in the data-driven era [1][2][3] Group 1: Research Significance - The study focuses on the practice of digital empowerment in physical commerce and the key role of the Wanda Smart Business Platform in industry transformation [1] - It aims to provide strong support for brand merchants to optimize operational models and enhance market competitiveness, while offering forward-looking insights for industry decision-makers and investors [1] Group 2: Current Status and Challenges - The report analyzes the current status, challenges, and development paths of digital empowerment in physical commerce, showcasing how digital technology aids in transformation and upgrade [2] - The digital transformation of physical commerce is a systematic project that covers the entire process from brand location selection to operational expansion [7] Group 3: Industry Trends - The digital upgrade is an inevitable choice for the transformation of physical commerce, with full-link intelligent transformation reconstructing the growth paradigm of the industry [3][69] - The future will see physical commerce moving towards deep integration of digital and physical, leading a new wave of industry digital transformation through technological collaboration and ecological reconstruction [3][72] Group 4: Development History - The rise of e-commerce in the early 21st century posed unprecedented challenges to physical commerce, prompting exploration of online-offline integration [4] - Commercial complexes have become key drivers for revitalizing the physical economy, enhancing competitiveness through digital transformation and service quality improvement [4][6] Group 5: Macroeconomic Background - From 2017 to 2024, China's per capita disposable income is projected to grow from 26,000 to 41,000 yuan, while per capita consumption expenditure is expected to rise from 18,000 to 28,000 yuan, providing a solid economic foundation for the development of physical commerce [7][8] - The rental market for commercial streets and shopping centers is experiencing slight increases, with demand for shop leasing expected to continue to release [11] Group 6: Brand Development - The restaurant sector is focusing on diversification and experiential consumption, with significant potential in lower-tier cities [18] - The retail sector emphasizes precise matching of "people-goods-scene" to penetrate the market, targeting lower-tier markets as potential growth areas [22] Group 7: Digital Transformation Needs - Digital transformation addresses four major challenges: location selection, marketing, operations, and expansion, reconstructing the growth methodology of physical commerce [31] - The core paths for digital transformation include data assetization, operational digitization, and service ecosystem development, enhancing brand competitiveness [35] Group 8: Wanda Smart Business Platform - Wanda Smart Business leverages over 20 years of commercial management experience to create a self-sustaining cycle of "precise leasing - merchant growth - data feedback," maximizing commercial value [54] - The platform has successfully supported various brands, such as Tea Baidao and Hu Shang Ayi, in their digital transformation and expansion efforts [57][60]

Core Insights - The 2024 China Shopping Center Enterprise TOP100 list has been released, highlighting the leading companies in the industry [1][2] - The industry is transitioning from a development-driven model to an operation-driven model, with over 400 new shopping centers expected to open nationwide in 2024 [2] Group 1: Industry Overview - The top ten companies in the 2024 China Shopping Center Enterprise TOP100 include Zhuhai Wanda Commercial Management Group, Injoy Group, New Town Wuyue Commercial Management Group, China Resources Vientiane Life, and others [1] - As of December 31, 2024, the TOP100 companies operate 3,067 shopping centers, covering a total construction area of approximately 33.906 million square meters, with an average project size of 105,000 square meters [1] Group 2: Market Dynamics - The concentration of leading shopping center enterprises is increasing, with the top four companies each operating over 100 shopping centers, collectively accounting for 33.4% of the total projects in the TOP100 [2] - The top five groups for new shopping center openings in 2024 are Zhuhai Wanda (25 centers), China Resources Vientiane Life (21 centers), New Town Wuyue (15 centers), Longfor Group (10 centers), and China Merchants Commercial Management (10 centers) [2] - For 2025, the companies with the highest planned openings include Zhuhai Wanda (30 centers), Aegean Group (13 centers), Longfor Group (12 centers), China Merchants Commercial Management (10 centers), and Injoy Group (9 centers) [2]

Core Insights - Digital empowerment has become the core driving force for the high-quality development of physical commerce, reshaping growth models in the data-driven era [1][2][3] - The study focuses on the practical application of digital empowerment in physical commerce and the key role of the Wanda Smart Commercial Platform in industry transformation [1][2] Research Significance - The integration of digital technology is crucial for physical commerce to adapt to consumer upgrades and intensified market competition, necessitating a transformation in operational models [1][2] Research Content - The report analyzes the current status, challenges, and development paths of digital empowerment in physical commerce, showcasing how digital technology facilitates transformation and upgrade [2] Industry Outlook - The industry is predicted to undergo a digital upgrade as an inevitable choice, leading to a comprehensive digital transformation that reconstructs growth paradigms [3] Development History of Physical Commerce - The rise of e-commerce has posed significant challenges to physical commerce, prompting exploration of online-offline integration [4][6] - Commercial complexes have become key drivers for revitalizing the physical economy through digital transformation and enhanced customer interaction [4][6] Macro Background - Consumption - From 2017 to 2024, China's per capita disposable income is projected to grow from 26,000 to 41,000 yuan, while per capita consumption expenditure is expected to rise from 18,000 to 28,000 yuan, providing a solid economic foundation for physical commerce [7][8] Macro Background - Rent - Commercial street and shopping center rents have seen slight increases, with rental demand expected to continue recovering [11] Macro Background - Enterprises - The number of operational shopping centers among leading enterprises continues to grow, with Wanda Plaza leading at over 510 projects [14][17] Brand Development in Physical Commerce - The restaurant sector is focusing on diversification and experiential consumption, with significant potential in lower-tier cities [18] - Boutique retail emphasizes precise matching of "people-goods-scene" to penetrate the market effectively [22] Digital Transformation Pain Points - Brands face challenges in site selection, marketing, operations, and expansion, necessitating a digital transformation to enhance competitiveness [31] Digital Transformation Solutions - The digital transformation of physical commerce brands involves "data assetization," "operational digitization," and "service ecosystemization," enhancing core competitiveness [35] Digital Empowerment Pathways - The expansion path for brands includes site selection, store opening, and operational expansion, with digital capabilities enhancing efficiency and collaboration [38] Wanda Smart Commercial Platform - The platform integrates resources, data, and services to create a sustainable commercial ecosystem, enhancing brand growth and operational efficiency [54][57] Case Studies of Wanda Smart Commercial Platform - Successful collaborations with brands like Tea Baidao and Hu Shang Ayi demonstrate the platform's ability to enhance operational efficiency and market coverage through digital solutions [57][60]

Core Viewpoint - The article emphasizes the importance of utilizing technology and collaborative efforts to enhance employment opportunities for people with disabilities, aiming to break down barriers and promote equal employment rights [2][5][10]. Group 1: Event Overview - A national job fair for people with disabilities was held on May 17 at Beijing Wukesong Wanda Plaza, themed "Job Success Without Worries, Building Dreams Together" [2]. - The event aimed to leverage technology to eliminate employment barriers and provide a platform for disabled individuals to showcase their potential [2][3]. - Over 60 companies participated, offering more than 300 job positions suitable for people with disabilities across various industries [3][10]. Group 2: Collaborative Efforts - The job fair was organized by multiple entities, including the China Disabled Persons' Federation and various companies, to create a supportive environment for disabled job seekers [3][5]. - The collaboration between government, enterprises, and social organizations is crucial in addressing the structural challenges faced by disabled individuals in the job market [5][7]. - Companies like Wanda Group are actively participating in initiatives to recruit disabled individuals, demonstrating a commitment to inclusive employment practices [7][12]. Group 3: Technological Integration - The event featured innovative job matching technologies, including smart recommendation algorithms to reduce information asymmetry and enhance job matching for disabled applicants [10]. - Various specialized zones were set up at the fair, such as an AI interview area and a unique job offerings section, to provide tailored support for job seekers [10]. - The integration of technology aims to create a more inclusive and efficient job search experience for disabled individuals [10][12]. Group 4: Personal Stories and Impact - Personal testimonies from attendees, such as Wang Mengmeng, highlight the challenges faced by disabled individuals in finding suitable employment, yet also reflect hope and optimism due to the opportunities presented at the fair [11][12]. - The event not only provided job opportunities but also fostered a sense of community and support among disabled individuals, encouraging them to pursue their dreams [8][12]. - The success of the job fair signifies a step towards professional, precise, and intelligent employment services for people with disabilities in China [12].

Group 1: Overall Performance During May Day Holiday - The overall foot traffic across various shopping centers during the May Day holiday exceeded 1.3 billion visits, with total sales surpassing 60 billion yuan [1][2] - Major shopping centers like Wanda Plaza, Joy City, and Aegean Shopping Center reported significant increases in both foot traffic and sales compared to the previous year [5][7] Group 2: Individual Company Performance - Wanda Group reported over 1.3 billion visits and total sales exceeding 60 billion yuan during the holiday, with a year-on-year increase of over 10% in foot traffic [2][4] - Aegean Group saw a 35.8% increase in foot traffic and a 30.3% increase in total sales during the holiday [5] - Joy City recorded over 904 million visits and total sales exceeding 20.9 billion yuan, with an average daily sales of over 4.18 billion yuan [7] Group 3: Regional Highlights - In Beijing, major shopping centers like Chaoyang Joy City and Xilongdu Shopping Center reported significant increases in foot traffic and sales, with Joy City achieving nearly 3 billion yuan in sales [13][15] - In Shanghai, shopping centers like Shanghai Vanke Plaza and Shanghai CP Jing'an reported foot traffic increases of 72% and sales growth of 65% [19][21] - In Guangzhou, sales at the 8th Warehouse Outlet increased by 35%, with foot traffic rising by 62% [39] Group 4: Specific Events and Promotions - Various shopping centers launched special events and promotions during the holiday, such as the "AI + Business" theme at Yinzuo Group, which achieved a sales target completion rate of 108.3% [8] - Aegean Shopping Center in Xiamen opened its second project, achieving a 100% occupancy rate and over 51 million visits in the first five days [5] - The "Cultural + Consumption" model was highlighted in Shanghai, where events like the "Non-Heritage Cultural Life Festival" attracted significant foot traffic and sales growth [28]

Company Overview - As of December 31, 2024, Central China New Life Limited is the largest property management service provider in central China by total gross floor area under management and total revenue for the year[18]. - The company serves over 2.6 million property owners and residents across 1,121 properties, covering all 18 prefecture-level cities in Henan and extending to multiple provinces[19]. - The diversified portfolio managed includes residential and commercial properties, office buildings, gyms, special towns, rural complexes, schools, hospitals, parks, and industrial parks[19]. - Central China New Life Limited has been ranked 11th among the Top 100 Property Management Companies in China for four consecutive years since 2021[19]. - The company was incorporated on October 16, 2018, and listed on the Main Board of The Stock Exchange of Hong Kong Limited on May 15, 2020[17]. - The company has a significant operating history of three decades, contributing to its growth and reputation in the property management sector[18]. - The total gross floor area managed by the company as of December 31, 2024, reflects its leading position in the central China property management market[18]. Financial Performance - The Group achieved revenue of RMB2,952.2 million for the year ended 31 December 2024, representing an increase of approximately 3.8% compared to RMB2,844.7 million in 2023[122]. - Net profit amounted to RMB238.2 million, a significant recovery from a net loss of RMB577.9 million in the corresponding period in 2023[122]. - Basic property management services generated revenue of RMB2,298.8 million, a year-on-year increase of 15.4%, accounting for 77.9% of total revenue[128]. - The accumulated contracted GFA reached 290.1 million sq.m., while the GFA under management increased to 196.9 million sq.m., representing growth of 0.7% and 8.3% respectively compared to 31 December 2023[134]. - A final dividend of RMB88.3 million was declared for the year ended 31 December 2024, maintaining a high level of dividend distribution[134]. - Gross profit decreased by 15.4% to RMB 640,738,000, with a gross profit margin of 21.7%, down from 26.6% in the previous year[156]. - Core net profit attributable to shareholders decreased by 27.1% to RMB 294,044,000 compared to RMB 403,203,000 in 2023[156]. Community Engagement and Initiatives - CCNL's community dining services achieved a coverage rate of 17% and generated nearly RMB 20 million in revenue within its first year[35]. - CCNL hosted over 300 "Neighbourhood Family Banquet" events, bringing together nearly 50,000 property owners to celebrate its 30th anniversary[62]. - Throughout 2024, CCNL held over 9,700 community events, attracting more than 810,000 participants[89]. - CCNL established "CCNL Starlight Book Corners" to inspire children's curiosity through a book donation campaign in April[46]. - In September, CCNL launched the "Good Life" Initiative, introducing measures such as the Good Life Pass and Good Life Rider Map to enhance delivery services[71]. - A total of 431 "Neighbourhood Family Mid-Autumn Banquets" were held, bringing together 48,690 residents[73]. - In November, CCNL's "This Is My Home" Photography Contest received 4,248 submissions, with total participation reaching 150,000 people[81]. - CCNL's "Warm Winter Action — Love for Farmers" initiative distributed over 800,000 catties of seasonal vegetables to property owners[85]. Awards and Recognition - CCNL received multiple awards, including being ranked 11th in the "2024 China Top 100 Property Management Companies" list[24]. - The company was recognized as the "2024 Outstanding Brand Enterprise in Public Property Management Services in China" at the 2024 China Real Estate Brand Value Research Conference[108]. - Henan Central China New Life Service Co., Ltd. was recognized as the "2024 Leading Property Management Companies in Central China in terms of Market Position (Top 1)" and "2024 Property Management Companies in Henan Province in terms of Market Position (Top 1)"[110]. - The company secured 23 awards in 2024, highlighting its strong performance in property management across various projects and regions[114]. - The company was recognized as a "Leading Enterprise in Property Service Quality" by the Henan Property Management Association in February 2024[114]. - The company received the "Advanced Unit for Trade" award from the Zhengzhou Finance, Trade, Light Industry and Service Industry Union for its outstanding performance in 2023[116]. Strategic Focus and Future Plans - The company aims to enhance living quality and lifestyle experiences for residents in Henan, leveraging its well-established brand and operational history[18]. - The Group focused on enhancing customer value by integrating basic standard services with customized lifestyle services, improving service response efficiency[127]. - Plans to innovate a lifestyle service ecosystem are underway, integrating property services with living needs to enhance community consumption[145]. - The Group is focusing on enhancing service quality and diversifying offerings in response to the evolving property management industry[172]. - In 2025, the Group plans to implement a regional focus strategy and high-quality expansion by identifying high-potential areas and strengthening investment in niche segments[173]. - The strategy includes a focus on high-quality investment and expansion targets, optimizing market expansion mechanisms[178]. Operational Efficiency and Innovation - The Group aims to deepen innovation in basic and lifestyle service models to create a second growth curve, focusing on sustainable and high-quality businesses[179]. - The Group plans to leverage cutting-edge technology to enhance operational efficiency and service quality through intelligent operation management and digital service processes[180]. - Organizational effectiveness was optimized through process reengineering and talent training to support sustainable development[127]. - Innovative service models, such as community group meals, were developed to broaden growth opportunities in value-added services[135].

Financial Performance - For the year ending December 31, 2024, the revenue was RMB 2,952.2 million, an increase of 3.8% compared to 2023[4] - The gross profit for the same period was RMB 640.7 million, a decrease of 15.4%, with a gross margin of 21.7%, down 4.9 percentage points from 2023[4] - The net profit for the year was RMB 238.2 million, compared to a net loss of RMB 577.9 million in 2023, resulting in a net profit margin of 8.1%[4] - Basic earnings per share for the year were RMB 0.17, while in 2023, there was a basic loss per share of RMB 0.45[5] - The core net profit attributable to shareholders was RMB 294.0 million, down from RMB 403.2 million in 2023[4] - The company reported a profit attributable to shareholders of RMB 214,594,000 for the year ended December 31, 2024, compared to a loss of RMB 574,369,000 in 2023[42] - The diluted earnings per share for 2024 was RMB 0.17, a significant improvement from a loss of RMB 0.45 per share in 2023[42] Dividends - The company proposed a final dividend of HKD 0.0736 per share, subject to shareholder approval at the 2025 Annual General Meeting[5] - A special dividend of RMB 286,262,000 was declared for the year ended December 31, 2023, with a per share amount of HKD 0.2410[45] - The interim dividend for the six months ended June 30, 2024, was proposed at RMB 125,698,000, compared to RMB 103,089,000 for the same period in 2023[44] Assets and Liabilities - As of December 31, 2024, the total assets amounted to RMB 4,726.96 million, a decrease from RMB 4,851.08 million in 2023[14] - The total equity attributable to shareholders was RMB 1,863.15 million, down from RMB 2,054.78 million in 2023[14] - Total liabilities increased to RMB 2,737,588 thousand in 2024 from RMB 2,688,729 thousand in 2023, representing a growth of 1.8%[16] - Non-current liabilities rose to RMB 179,196 thousand in 2024, up from RMB 138,798 thousand in 2023, marking a significant increase of 29.1%[16] - Contract liabilities increased to RMB 863,676 thousand in 2024 from RMB 758,678 thousand in 2023, showing a rise of 13.9%[16] - The total equity and liabilities amounted to RMB 4,726,961 thousand in 2024, down from RMB 4,851,078 thousand in 2023, a decline of 2.6%[16] Revenue Sources - Revenue from property management and related services reached RMB 2,493,824 thousand in 2024, an increase of 14.1% compared to RMB 2,185,943 thousand in 2023[26] - The company reported a decrease in installation and renovation services revenue to RMB 85,983 thousand in 2024, down 68.4% from RMB 272,177 thousand in 2023[26] - Property management services generated revenue of RMB 2,298.8 million, a 15.4% increase from RMB 1,992.2 million in 2023, driven by an increase in total managed area to 196.9 million square meters, up 8.3%[80] - Community value-added services revenue decreased by 17.3% to RMB 544.8 million from RMB 658.9 million in 2023, primarily due to a reduction in the number of handovers affecting smart community solutions[83] - Non-owner value-added services revenue fell by 43.9% to RMB 108.6 million from RMB 193.5 million in 2023, attributed to adjustments in the real estate sector and a reduction in service scale[84] Expenses - The total operating expenses for the year ended December 31, 2024, amounted to RMB 2,514,736 thousand, compared to RMB 2,303,260 thousand in 2023, reflecting an increase of 9.2%[27] - Employee benefits expenses increased to RMB 615,453 thousand in 2024 from RMB 548,091 thousand in 2023, representing a growth of 12.2%[27] - The cost of goods sold rose to RMB 278,772 thousand in 2024, up from RMB 223,537 thousand in 2023, indicating a year-over-year increase of 24.7%[27] - Selling and marketing expenses decreased by 9.1% to RMB 16.2 million, maintaining approximately 0.6% of total revenue[89] - Administrative expenses fell by 5.5% to RMB 187.0 million, accounting for about 6.3% of revenue, a decrease of 0.7 percentage points from 2023[90] Impairment and Tax - The company reported a significant reduction in financial and contract asset impairment losses, from RMB 1,222.35 million in 2023 to RMB 74.91 million in 2024[7] - The income tax expense for the year was RMB 120.8 million, with a tax rate of 33.6%, up from a tax credit of RMB 118.3 million and a tax rate of 17.0% in 2023, mainly due to a significant reduction in credit impairment losses[94] Cash Flow and Investments - Cash and cash equivalents as of December 31, 2024, were approximately RMB 1,190.1 million, down from RMB 1,620.6 million as of December 31, 2023[96] - The company has allocated a total of RMB 2,088,694,000 for various strategic investments, with RMB 596,008,000 already utilized and RMB 1,178,816,000 remaining[103] - Strategic investments include RMB 1,253,216,000 for acquisitions and partnerships, with RMB 132,723,000 already used[102] - The company plans to enhance user experience with an investment of RMB 505,889,000, of which RMB 9,959,000 has been utilized[103] Employee and Governance - The company has 5,699 full-time employees, primarily located in Henan Province[112] - The company has established a clear promotion pathway for employees, tailoring development paths based on individual strengths and strategic direction[113] - The company has implemented a performance evaluation mechanism that closely links employee performance to compensation, enhancing motivation and creativity[114] - The audit committee has reviewed the annual performance for the year ending December 31, 2024, and reached a consensus with management on the financial results[118] - The company has adhered to all corporate governance codes and disclosure requirements as of December 31, 2024[115] Future Plans - The company plans to implement a regional focus strategy in 2025, targeting high-potential areas for localized development and optimizing market expansion mechanisms[72] - The company is innovating its basic and lifestyle service models to create a dual-track operating system, enhancing service value and exploring new profit growth points[73] - The company is leveraging advanced technology to upgrade property service models, aiming for intelligent operational management and digital service processes[75] - The company is committed to building a differentiated brand by promoting its unique cultural values and enhancing customer loyalty through community cultural activities[76]