股票简称：百联股份 百联 B 股 证券代码： 600827 900923 编号：临 2025-006 上海百联集团股份有限公司 关于拟收购百联亿万豪购物广场(长沙)有限公司 60%股权 及委托上海百联益腾商业管理有限公司对其管理 暨关联交易的公告 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。 重要内容提示： 上海百联集团股份有限公司（以下简称"公司""百联股份"）拟收购百联亿万豪购物广 场（长沙）有限公司 60%股权，并向其提供过渡性股东贷款不超过人民币 4,600 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。 本次股权转让事项构成关联交易，但不构成《上市公司重大资产重组管理办法》规定的 重大资产重组。本次事项已经公司第十届董事会第九次会议审议通过。截至本次关联交易，过 去 12 个月内发生的需累计计算的公司与同一关联人或与不同关联人之间交易类别相关的 ...

股票简称：百联股份 百联 B 股 证券代码： 600827 900923 编号：临 2025-005 上海百联集团股份有限公司 第十届监事会第七次会议决议公告 本公司监事会及全体监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。 本公司第十届监事会第七次会议于 2025 年 1 月 26 日（周日）上午 11:00 以通讯 会议形式召开。应到监事 3 名，实到监事 3 名。会议符合《公司法》和《公司章程》 的有关规定，会议经审议一致通过以下议案： 一、《关于拟收购百联亿万豪购物广场(长沙)有限公司 60%股权及委托上海百联 益腾商业管理有限公司对其管理暨关联交易的议案》 具体内容详见《关于拟收购百联亿万豪购物广场(长沙)有限公司 60%股权及委托上 海百联益腾商业管理有限公司对其管理暨关联交易的公告》（临 2025-006） 表决结果：3 票同意，0 票反对，0 票弃权。 特此公告。 上海百联集团股份有限公司监事会 2025 年 1 月 27 日 1 ...

股票简称：百联股份 百联 B 股 证券代码： 600827 900923 编号：临 2025-004 上海百联集团股份有限公司 第十届董事会第九次会议决议公告 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。 上海百联集团股份有限公司（以下简称"公司"）第十届董事会第九次会议于 2025 年 1 月 26 日（周日）上午 10:30 以通讯会议方式召开。会议应到董事 9 名，实到董 事 9 名。公司监事列席了会议。会议符合《公司法》和《公司章程》的有关规定，会 议经审议一致通过以下议案： 一、《关于拟收购百联亿万豪购物广场(长沙)有限公司 60%股权及委托上海百联 益腾商业管理有限公司对其管理暨关联交易的议案》 具体内容详见《关于拟收购百联亿万豪购物广场(长沙)有限公司 60%股权及委托 上海百联益腾商业管理有限公司对其管理暨关联交易的公告》（临 2025-006） 表决结果：5 票同意，0 票反对，0 票弃权，4 票回避。 上述议案经公司第十届董事会战略委员会 2025 年第一次会议、第十届董事会独 立董事 2025 年第二次 ...

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].