证券代码：600859 证券简称：王府井 公告编号：临 2025-085 王府井集团股份有限公司 关于使用暂时闲置募集资金进行现金管理的进展公告 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。 重要内容提示： 现金管理受托方：华夏银行股份有限公司北京光华支行（以下简称"华 夏银行光华支行"）、中国工商银行股份有限公司北京国家文化与金融合作示范区 金街支行（以下简称"工行金街支行"）、北京银行股份有限公司北洼路支行（以 下简称"北京银行北洼路支行"） 本次现金管理产品名称：结构性存款、大额存单 投资金额：结构性存款金额合计 59,000 万元，大额存单金额合计 26,000 万元，上述现金管理产品合计金额 85,000 万元 现金管理期限：结构性存款产品期限分别为 122 天、150 天；大额存单 产品期限分别为 6 个月、9 个月 已履行的审议程序：本事项已经王府井集团股份有限公司（以下简称"公 司"）第十一届董事会第二十六次会议审议通过，无需提交股东会审议。具体详 情详见公司于 2025 年 12 月 4 日刊登在《中国证券 ...

Core Insights - The report emphasizes two main investment directions for 2026: recovery sectors focusing on profit inflection points and growth sectors targeting high revenue increases [4][19][20] Recovery Sectors - The duty-free sector is showing signs of recovery with favorable policies enhancing consumption, including expanded product categories and improved shopping convenience [4][19] - The hotel industry is expected to see a gradual improvement in RevPAR, with business and leisure demand stabilizing, indicating a potential operational turning point in Q4 or next year [4][19] - The tourism sector remains resilient despite macroeconomic pressures, with increasing travel volumes and government initiatives aimed at boosting consumption in various travel themes [4][19] Growth Sectors - The beauty industry is experiencing intensified competition, with a focus on channel value reconstruction and brand establishment [4][20] - The gold and jewelry sector is witnessing a recovery, driven by new product launches and an increasing focus on high-end market competition [4][20] - The cross-border e-commerce sector is expected to rebound, supported by stable policies and a decrease in shipping costs, with strong demand from the U.S. market [4][20] Key Company Recommendations - For duty-free, China Duty Free Group is recommended for its long-term growth potential, with attention to Wangfujing and Zhuhai Duty Free Group [4] - In the hotel sector, companies like Jinjiang Hotels, Atour, and Huazhu are highlighted for their growth prospects [4] - In tourism, companies such as Three Gorges Tourism and Changbai Mountain are suggested for monitoring acquisition and new business developments [4] - The beauty sector includes recommendations for brands like Maogeping and Proya, focusing on channel strategies [4] - For gold and jewelry, companies like Chow Tai Fook and Lao Pu Gold are recommended for their market positioning [4] - In retail, companies like Yonghui Supermarket and Xinhua Department Store are noted for their recovery potential [4]

Group 1 - The duty-free shop concept index declined by 1.60%, ranking among the top declines in the concept sector, with companies like Zhongbai Group, Guangbai Shares, and Youhao Group experiencing significant drops [1] - Among the duty-free shop concept stocks, only four saw price increases, with Lingnan Holdings, Hainan Development, and China Merchants Shekou rising by 1.86%, 0.60%, and 0.45% respectively [1] - The duty-free shop sector experienced a net outflow of 588 million yuan in main funds, with 21 stocks seeing net outflows, and six stocks exceeding 30 million yuan in outflows, led by China Duty Free Group with a net outflow of 174 million yuan [2] Group 2 - The top net outflow stocks in the duty-free shop sector included China Duty Free Group, Caesar Travel, Dongbai Group, and Zhongbai Group, with net outflows of 174 million yuan, 90.89 million yuan, 71.85 million yuan, and 53.13 million yuan respectively [2][3] - Conversely, the stocks with the highest net inflows included China Merchants Shekou, Dalian Commercial Shares, and Youhao Group, with net inflows of 29.57 million yuan, 5.41 million yuan, and 3.71 million yuan respectively [2][3] - The overall trading activity in the duty-free shop sector showed a mix of performance, with some stocks experiencing significant turnover rates, such as Dongbai Group at 27.58% and Hainan Development at 19.43% [2][3]

每经AI快讯，12月11日，免税店指数盘中震荡下挫，主要成分股普遍走弱。友好集团领跌板块，跌幅 达4%，南宁百货、大商股份、王府井、平潭发展跌幅居前，分别下跌3.33%、3.21%、2.88%、2.40%。 （文章来源：每日经济新闻） ...

Core Insights - Yibin, known as "China's Liquor Capital," has transformed into a popular tourist destination, expecting to receive 97.38 million visitors and generate 89.8 billion yuan in revenue by 2024 [1] - The city's GDP has surged from 152.59 billion yuan in 2015 to 400.58 billion yuan in 2024, marking a significant economic leap [1] - Yibin has shifted from a traditional industrial base of coal and liquor to new sectors like digital economy and green energy, branding itself as the "Power Battery Capital" [1] Economic Growth - Yibin's GDP growth reflects a strategic shift in its industrial structure, moving towards a dual focus on liquor and new energy sectors [1] - The city has established two major industrial clusters: liquor and power batteries, contributing to its economic transformation [1] Commercial Development - Yibin's commercial landscape has evolved significantly, with existing commercial space exceeding 1.24 million square meters, predominantly in the form of small to medium-sized retail [3] - The city has undergone three phases of commercial development: initial exploration (2009-2010), rapid expansion (2011-2015), and stable growth (2016-present) [4][10] Urban Structure - The urban commercial structure has been reshaped, with a focus on the core areas of Cuiping District and Xuzhou District, which are now the main commercial hubs [17] - Five major commercial zones have emerged, characterized by a blend of historical and modern elements, enhancing the city's commercial vitality [19] Young Population and Consumer Trends - The establishment of a university town has significantly increased the young population, with student numbers rising from 25,000 to 100,000, fostering a vibrant consumer base [29] - Young consumers are driving demand for diverse and experiential consumption, leading to the emergence of new retail formats and cultural experiences [29] Policy Initiatives - Yibin's government has implemented a comprehensive policy framework aimed at boosting consumption, with an estimated investment of 1 billion yuan to stimulate various sectors [30] - Specific measures targeting employment, trade, and tourism have been introduced to create a favorable environment for consumer spending [30] Tourism and Cultural Integration - Yibin's tourism sector has shown robust growth, with a significant increase in visitor numbers and spending, particularly during holiday periods [31] - The city is leveraging its cultural heritage and natural resources to enhance its tourism appeal, aiming to become a regional consumption center [31][32]

证券代码：600859 证券简称：王府井 编号：临 2025－084 王府井集团股份有限公司 关于使用暂时闲置募集资金进行现金管理到期赎回的公告 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： 二、本次现金管理产品到期赎回情况 公司分别于 2025 年 1 月 15 日、2025 年 9 月 19 日、2025 年 10 月 16 日、2025 年 10 月 22 日、2025 年 11 月 18 日使用暂时闲置募集资金购买了 50,000 万元、14,000 万元、20,000 万元、10,000 万元及 15,000 万元结构性存款产品，上述结构性存款产 品合计金额 109,000 万元，具体内容详见公司分别于 2025 年 1 月 18 日、2025 年 9 月 20 日、2025 年 10 月 18 日、2025 年 10 月 23 日及 2025 年 11 月 19 日在《中国证 券报》及上海证券交易所网站 www.sse.com.cn 上披露的《关于使用暂时闲置募集资 金进行现金管理的进展公告》。 ...

王府井集团股份有限公司 关于使用暂时闲置募集资金进行现金管理到期赎回的公告 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： 本次赎回现金管理产品受托方：华夏银行股份有限公司北京光华支行（以下 简称"华夏银行光华支行"）。 一、使用暂时闲置募集资金进行现金管理的基本情况 公司于 2024 年 12 月 12 日召开了公司第十一届董事会第十六次会议、第十一届 监事会第十三次会议，审议通过了《关于使用暂时闲置募集资金进行现金管理的议 案》。同意公司使用总额不超过人民币 161,000 万元（含）的暂时闲置募集资金进行 现金管理，使用期限不超过 12 个月，在上述额度及决议有效期内，资金可以循环使 用，闲置募集资金投资产品到期后的本金及收益将及时归还至募集资金专户。并授 权公司管理层行使现金管理投资决策权及签署相关法律文件，具体事项由公司财务 部负责组织实施。包括但不限于：选择合格的专业金融机构、选择产品/业务品种、 开立专用账户及产品专户、签署有关合同及协议等。公司监事会及独立财务顾问已 分别对此发表了同意的意见。 ...

王 府 井 集 团 股 份 有 限 公 司 2025年第四次临时股东会 会议材料 二零二五年十二月二十二日 王 府 井 集 团 股 份 有 限 公 司 2025 年第四次临时股东会 会议议程 一、现场会议时间：2025 年 12 月 22 日（星期一）下午 14:00 二、现场会议地点：北京市东城区王府井大街 253 号王府井大厦十一层会议室 三、会议召集人：王府井集团股份有限公司董事会 四、会议主持人：董事长白凡先生 五、会议表决方式：现场投票和网络投票相结合的方式 六、网络投票系统：上海证券交易所股东会网络投票系统 七、交易系统投票平台的投票时间：2025 年 12 月 22 日 9:15-9:25,9:30-11:30， 13:00-15:00。 八、互联网投票平台（网址：vote.sseinfo.com）的投票时间：2025 年 12 月 22 日 9:15-15:00。 九、会议议程： （一）宣布会议开始 （二）审议以下议案 1．关于增加经营范围暨修订《公司章程》的议案 2．关于董事会换届选举非独立董事的议案 3．关于董事会换届选举独立董事的议案 （三）股东交流 （四）股东及股东代表表决议案 （五） ...

Capital Market Highlights - "China's Nvidia," Moore Threads, will be listed on the STAR Market on December 5, with Muxi Co.'s IPO subscription starting the same day at a price of 104.66 yuan, aiming to raise 3.899 billion yuan [2] - JPMorgan upgraded its rating on Chinese stocks from "neutral" to "overweight," stating that the risk of a significant rise in the Chinese stock market by 2026 is much higher than the risk of a significant decline, with a projected 19% upside for the MSCI China Index under base case scenarios [2] - The China Securities Regulatory Commission disclosed that companies like Shichuangyi, Shurui Robotics, and Niushidate have initiated A-share IPO counseling, all categorized as hard technology enterprises [2] Key Industry Sectors - In embodied intelligence, Tesla released a video of its Optimus humanoid robot running, achieving a personal best; Yushu published a new video verifying the reliability of its machine, with H2 performing a combat test against G2 [4] - In commercial aerospace, the Zhuque-3 reusable launch vehicle was launched into orbit, but the recovery test failed [4] - In the chip sector, Amazon's cloud division plans to launch its latest AI chip, Trainium3, claiming it provides computational power for AI models at a lower cost and higher efficiency compared to Nvidia's GPUs [4] Company Updates - The price of Feitian Moutai has dropped to 1,399 yuan, falling below the official guidance price [5] - JPMorgan increased its stake in Vanke's H-shares from 4.72% on November 27 to 5.23%, while Blackstone's holding rose from 4.83% to 5.45% [5] - Guizhou Bailing's actual controller is under investigation for insider trading, information disclosure violations, and transferring stocks in violation of restrictions [5] - Lens Technology is collaborating with several leading domestic and international clients to develop various AI edge hardware devices, including glasses, watches, wristbands, rings, and desktop models [5] - Microchip Technology, a wholly-owned subsidiary of Saiwei Electronics, plans to participate in establishing Chuxin Micro Technology [5] - Zhongshi Technology intends to acquire a 51% stake in Zhongshi Xun Cold to enhance its liquid cooling business ecosystem [5]

Core Viewpoint - Wangfujing (600859.SH) has approved the use of idle raised funds for cash management, amounting to a maximum of RMB 1.52 billion, which will be invested in low-risk, liquid products [1] Group 1: Financial Management - The company will utilize up to RMB 1.52 billion of temporarily idle raised funds for cash management [1] - Investment directions include notice deposits, structured deposits, and large certificates of deposit, all of which are characterized by high safety and good liquidity [1] - The usage period for these funds will not exceed 12 months, and the funds can be rolled over within the limit and validity period of the resolution [1] Group 2: Impact on Operations - The company stated that this decision will not affect the progress of the investment projects funded by the raised capital or the normal production and operation of the company [1]