百联股份（600827 ）1月26日晚公告，公司拟收购百联亿万豪购物广场（长沙）有限公司（下称"长沙 乐和城"） 60%股权，并向其提供过渡性股东贷款不超过4600万元，用于交割日及之后归还对转让方 Ivanhoe Cambridge Equity Two (HK) Limited （下称"亿万豪剑桥"）的股东借款。收购完成后，公司拟委 托参股公司上海百联益腾商业管理有限公司（下称"百联益腾"）对项目进行改造及经营管理。 据介绍，长沙乐和城由亿万豪剑桥持股60%和百联集团有限公司（以下简称"百联集团"）持股40%，系 长沙乐和城购物广场（下称"标的物业"）的项目公司。鉴于亿万豪剑桥投资区域战略性转移，百联股份 拟收购其持有的长沙乐和城60%股权。 根据评估报告，截止到2024年10月31日长沙乐和城股东全部权益评估价值为2.23亿元，亿万豪剑桥60% 股权对应权益价值为1.34亿元。因亿万豪剑桥投资区域战略性转移，经双方协商大幅折价转让，转让股 权价格为1元。 由于本次股权收购后长沙乐和城为百联股份与控股股东百联集团共同投资的公司，同时百联股份董事、 总经理曹海伦担任百联益腾的董事长，故百联益腾为百联股份的关 ...

证券时报e公司讯，百联股份(600827)1月26日晚间公告，公司拟收购百联亿万豪购物广场（长沙）有限 公司（简称"长沙乐和城"）60%股权，并向其提供过渡性股东贷款不超4600万元，用于交割日及之后归 还对转让方Ivanhoe Cambridge Equity Two (HK) Limited的股东借款。 收购完成后，公司拟委托参股公司上海百联益腾商业管理有限公司对项目进行改造及经营管理。 长沙乐和城由Ivanhoe Cambridge Equity Two (HK) Limited持股60%和公司控股股东百联集团持股40%。 鉴于亿万豪剑桥投资区域战略性转移，公司拟收购长沙乐和城60%股权。 ...

Investment Rating - The investment rating for the company is "Outperform the Market" (maintained) [2][3] Core Views - The company is expected to achieve a net profit attributable to shareholders of 1.425 to 1.710 billion, representing a year-on-year growth of 257.04% to 328.45% for 2024. However, the non-recurring net profit is projected to decline by 56.19% to 34.54% [3][4] - The growth in net profit is primarily driven by the issuance of the Huazhong Bailian Consumption REIT, which has generated investment income. The company successfully issued REITs based on the Shanghai Youyi City shopping center, enhancing its ability to create a complete cycle of investment, financing, construction, management, and exit for its own properties [5][8] - Despite the overall pressure on offline consumption, the company is adjusting its business operations and focusing on trends such as two-dimensional cultural shopping malls and outlets, which are expected to drive performance improvements as related projects are implemented [3][5] Summary by Sections Financial Forecasts - The company is expected to achieve a net profit of 1.568 billion in 2024, with a year-on-year increase of 292.7%, while the non-recurring net profit is anticipated to be 106 million, reflecting a decrease of 45.36% [4][5] - The projected net profits for 2025 and 2026 are 755 million and 892 million, respectively, with corresponding price-to-earnings ratios of 24x and 20x [3][8] Business Strategy - The company aims to leverage its geographical and property advantages to adapt to current consumer trends, focusing on new business formats that align with market demands [3][5] - The company plans to continue utilizing asset securitization to unlock property value and enhance operational potential, with the possibility of issuing public REITs in the future [3][8]

股票简称：百联股份 百联 B 股 证券代码： 600827 900923 编号：2025-003 上海百联集团股份有限公司 关于开展保函池业务的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 （二）审议程序 2024 年 4 月 11 日召开的第九届董事会第三十三次会议及 2024 年 6 月 6 日召开的 2023 年年度股东大会审议通过了《关于申请开立保函池业务的议案》：保函池额度为 不超过人民币 2 亿元。其中，为资产负债率超过 70%的子公司提供的保函额度不超过人 民币 1 亿元，为资产负债率低于 70%的子公司提供的保函额度不超过人民币 1 亿元。具 1 体详见公司于 2024 年 4 月 13 日披露的"临 2024-021"《关于申请开立保函池业务的 公告》。 重要内容提示 上海百联集团股份有限公司（以下简称"公司"）于 2024 年 4 月 11 日召开的第九届董事会 第三十三次会议及 2024 年 6 月 6 日召开的 2023 年年度股东大会审议通过了《关于申请开立保函池 业务的议案》。2024 ...

Financial Performance Forecast - The company expects a net profit attributable to shareholders of the parent company for 2024 to be between 1,425 million yuan and 1,710 million yuan, representing an increase of 102,588.51 million yuan to 131,088.51 million yuan compared to the previous year, which is a year-on-year increase of approximately 257.04% to 328.45%[3]. - The expected net profit attributable to shareholders of the parent company, after deducting non-recurring gains and losses, is projected to be between 85 million yuan and 127 million yuan, a decrease of 6,742.33 million yuan to 10,942.33 million yuan compared to the previous year[7]. - The total profit for the previous year was 469.84 million yuan, with a net profit attributable to shareholders of the parent company of 399.11 million yuan[9]. - The earnings per share for the previous year was 0.22 yuan[10]. Reasons for Profit Change - The primary reason for the increase in net profit for 2024 is attributed to the investment income from the issuance of Huazhong Bailian Consumption REIT, which was successfully issued in August 2024[11]. Performance Forecast Reliability - The company emphasizes that there are no significant uncertainties that could affect the accuracy of this performance forecast[12]. - The forecast data is preliminary and subject to final confirmation in the official 2024 annual report[13].

Investment Rating - The report gives an "Accumulate" rating for the company [15]. Core Insights - The report emphasizes the booming "goods" economy, driven by the rise of the Z generation and the increasing popularity of IP-derived products, with the market expected to reach 1,689 billion yuan in 2024, growing by 40.63% from 2023 [13][54]. - The company is transforming its traditional retail model by focusing on the "commercial + X" integration strategy, particularly through the establishment of the "百联 ZX 创趣场," which targets the younger consumer demographic and aims to create a vibrant cultural community [15][45]. Summary by Sections 1. Goods Economy Market Boom - The report highlights the rapid expansion of the goods economy, with the number of related enterprises increasing by 14% year-on-year, totaling over 64,000 existing companies [66]. - The Z generation's consumer behavior is driving the growth of the goods economy, with the market expected to exceed 8,000 billion yuan by 2029 [13][54]. 2. Focus on Dimension Culture - 百联 ZX 创趣场 is positioned as the first commercial entity in China focusing on dimension culture, featuring a high percentage of first stores and a wide range of IPs [48][81]. - The venue has hosted over 700 events in 18 months, significantly enhancing customer engagement and sales [76]. 3. Financial Forecast - The company’s projected earnings per share (EPS) for 2024-2026 are 0.95 yuan, 0.27 yuan, and 0.32 yuan respectively, with corresponding price-to-earnings (PE) ratios of 12.8, 45.8, and 38.0 [15][11]. - The report anticipates a sales revenue of approximately 5 billion yuan for the first half of 2024, following a successful transformation of the 百联 ZX 创趣场 [4][15].

Investment Rating - The report maintains an "Outperform" rating for the company [1][4] Core Viewpoints - The company, as a leading retail enterprise in East China under the Shanghai State-owned Assets Supervision and Administration Commission, has been actively transforming its business operations to adapt to current consumption trends, such as the "Guzi" economy and outlet formats [5] - The company has been leveraging its geographical advantages and self-owned properties to focus on new retail formats like ZX Creative Field and outlets, which are expected to drive future profit elasticity [5] - The company's asset securitization efforts, including the issuance of public REITs, have significantly boosted investment income, with the Hua'an Bailian Consumption REIT raising 2.332 billion yuan and contributing to a substantial increase in investment income [5] - The company's ZX Creative Field, focusing on the ACGN (Anime, Comic, Game, Novel) subculture, has seen impressive performance, with sales reaching 300 million yuan and foot traffic exceeding 9.5 million in 2023 [10] - The company's outlet business continues to perform strongly, with the Shanghai Qingpu Outlet achieving a revenue of 6.17 billion yuan in 2023, and the overall outlet business seeing a 14% increase in sales compared to 2021 [20][21] Business Transformation and New Formats - The company has been actively transforming its classic stores since 2015, upgrading consumer experiences and adapting to new consumption trends [6] - The ZX Creative Field, the first commercial complex in China focusing on the ACGN subculture, has become a significant success, with 70% of its stores being national first stores, and sales increasing by 84% year-on-year in the first three quarters of 2023 [10] - The company plans to open a second ZX Creative Field in Yangpu, targeting the young consumer base near universities and cultural enterprises like Bilibili and Papergames [11] - The company's outlet business has been expanding steadily, with 9 outlets currently operating, primarily in East China, and the Shanghai Qingpu Outlet leading the industry with a revenue of 6.17 billion yuan in 2023 [20][21] Financial Performance and Projections - The company's net profit attributable to the parent company is projected to increase to 1.734 billion yuan in 2024, up from the previous estimate of 1.579 billion yuan, with a PE ratio of 12x [5] - The company's outlet business saw a 14% increase in sales and a 31% increase in foot traffic in 2023 compared to 2021, with significant growth during holiday periods [21] - The company's ZX Creative Field achieved sales of 300 million yuan in 2023, with foot traffic exceeding 9.5 million, and a year-on-year sales increase of 84% in the first three quarters of 2023 [10] Market Trends and Opportunities - The "Guzi" economy, driven by the popularity of ACGN subculture, is expected to grow significantly, with the market size projected to reach 308.9 billion yuan by 2029 [15] - Traditional department stores are increasingly incorporating ACGN-related brands and themed areas to attract young consumers, with over 20 first and second-tier cities in China developing ACGN consumption landmarks [17] - The company's early adoption of the "Guzi" economy and its focus on outlet formats position it well to benefit from these emerging market trends [17][20]

股票简称：百联股份 百联 B 股 证券代码： 600827 900923 编号：临 2024-059 关于高级管理人员辞任的公告 特此公告。 上海百联集团股份有限公司董事会 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 上海百联集团股份有限公司（以下简称"公司"）董事会于近日收到公司副总 经理徐凌玲女士的辞任申请，徐凌玲女士因工作原因不再担任公司副总经理的职务， 辞任申请自送达董事会之日起生效。 公司董事会对徐凌玲女士在任职期间对公司所做的贡献表示衷心感谢。 上海百联集团股份有限公司 2024 年 12 月 7 日 1 ...

证券代码：600827 900923 证券简称：百联股份 百联 B 股 上海百联集团股份有限公司 投资者关系活动记录表 编号：2024-004 | --- | --- | --- | |-----------------------|------------------------------------------------------------------------|------------------------------------------------------------| | | □ 特定对象调研 | □ 分析师会议 | | 投资者关系 | □ 媒体采访 | √业绩说明会 | | 活动类别 | □ 新闻发布会 □ | 路演活动 | | | □ 现场参观 | | | | □ 其他 | （请文字说明活动内容） | | 参与单位名称 | 参与公司 2024 | 年第三季度业绩说明会的投资者 | | 及人员姓名 | | | | 会议时间 | 2024 年 11 月 6 日上午 | | | 会议地点 | 上海证券交易所上证路演中心 （ http://roadshow.sseinfo.com/ ...