大悦城控股集团股份有限公司第十一届董事会公告 证券代码：000031 证券简称：大悦城 公告编号：2025-040 大悦城控股集团股份有限公司 关于累计诉讼及仲裁事项的公告 三、诉讼、仲裁事项对公司的可能影响 对于公司涉及的诉讼、仲裁案件，公司将积极通过法律途径妥善处理，依法 保护公司及广大投资者的合法权益。 鉴于部分诉讼、仲裁案件正在诉讼、仲裁过程中，其对公司本期利润或期后 1 大悦城控股集团股份有限公司第十一届董事会公告 利润的影响存在不确定性，最终实际影响以法院/仲裁生效判决/裁决为准，公司 将依据相关会计准则的要求和实际情况进行相应的会计处理。公司将密切关注相 关案件的进展情况及时履行信息披露义务。 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 一、累计诉讼及仲裁事项的基本情况 大悦城控股集团股份有限公司（以下简称"公司"）根据《深圳证券交易所 股票上市规则》有关规定，对公司及控股子公司的诉讼及仲裁事项进行了统计。 截至本公告披露日，除已披露的诉讼事项外，公司及控股子公司连续12个月内发 生的诉讼及仲裁事项累计金额合计131,828万元，占公司最近 ...

大悦城控股集团股份有限公司第十一届董事会公告 证券代码：000031 证券简称：大悦城 公告编号：2025-039 二、公司对子公司担保额度的使用情况 根据公司 2024 年年度股东大会审议通过的《关于 2025 年度向控股子公司 提供担保额度的议案》，公司 2025 年度向控股子公司提供担保额度的有效期自 2024 年年度股东大会通过之日起不超过 12 个月。本次担保生效前后，担保额 度使用情况如下： 单位：亿元 大悦城控股集团股份有限公司 关于为全资子公司中粮地产集团深圳房地产开发有限公司 提供担保的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 一、担保情况概述 1、大悦城控股集团股份有限公司（以下简称"公司"）全资子公司中粮地产 集团深圳房地产开发有限公司（以下简称"地产深圳"）向中信银行股份有限公 司深圳分行（以下简称"中信银行"）申请 1.44 亿元借款，期限 5 年，用于置换 地产深圳已支付的部分股权收购交易款项。公司与中信银行近日签订了保证合同， 公司为地产深圳在并购借款合同项下本金余额不超过 1.44 亿元贷款提供连带责 任保证担保。 ...

Core Insights - Shenzhen's first Joy City opened on July 12, 2023, after 15 years of development, covering an area of 250,000 square meters, attracting over 420,000 visitors and generating nearly 20 million yuan in sales on its opening day [6][11] - The mall features a significant proportion of first stores and customized shops, with over 50% of its brands being new to the market, including notable names in the pet economy and family-oriented sectors [7][8] - Despite the initial success, consumer feedback indicates that while there are many dining options, they lack standout offerings compared to established competitors [10] Company Overview - Joy City is a commercial real estate platform under COFCO Group, known for its strong presence in northern China [11] - The opening of Joy City in Shenzhen marks a strategic move into a highly competitive market, with the Bao'an district being a key area for commercial development [11][12] Market Dynamics - The Bao'an district is projected to have nearly 40 commercial complexes by 2024, with a total commercial area exceeding 3.1 million square meters, making it the largest commercial hub in Shenzhen [11] - The competitive landscape is intensifying, with 21 new projects expected to open in Shenzhen by 2025, adding approximately 1.8625 million square meters of commercial space [11][12] - Differentiation in offerings and brand appeal will be crucial for new entrants like Joy City to succeed in this crowded market [12]

Core Viewpoint - The real estate industry is facing significant challenges in the first half of 2025, with a notable performance divergence among listed companies, as many report substantial losses while a few manage to turn profits [1][2]. Group 1: Overall Performance - As of July 17, 2025, 61 listed real estate companies have disclosed their mid-year performance forecasts, with a total expected loss ranging from 342.56 billion to 464.97 billion [1]. - Out of these, 24 companies anticipate profits while 37 expect losses, indicating that 60% of the companies are projected to report losses [1][2]. - The overall trend shows a decline in performance, with companies like China Vanke and Greenland Holdings shifting from profit to loss, while others like Joy City and Urban Construction Development have managed to turn losses into profits [1][2]. Group 2: Companies Turning Profits - In the first half of 2025, 24 companies are expected to achieve profits totaling between 68.68 billion and 80.16 billion, with 12 companies successfully reversing previous losses [2][3]. - Urban Construction Development is projected to report a net profit of 4.4 billion to 6.54 billion, marking a year-on-year increase of up to 575.14% [3][7]. - Other companies that have turned profitable include Zhongzhou Holdings, City Investment Holdings, and Joy City, showcasing resilience in a challenging market [2][3]. Group 3: Companies Reporting Losses - Among the 37 companies forecasting losses, 13 are expected to report their first-ever losses, including Shahe Co., Xiangjiang Holdings, and Greenland Holdings [8][11]. - The total expected loss for these companies ranges from 422.72 billion to 533.64 billion, with Vanke leading with a projected loss of 100 billion to 120 billion [8][11]. - Other notable companies with significant losses include Jindi Group, which anticipates a loss of 34 billion to 42 billion, and Xinda Real Estate, expecting a loss of 35 billion to 39 billion [11][12]. Group 4: Market Outlook - The overall real estate market is still in an adjustment phase, but signs of stabilization are emerging, particularly in first-tier and some strong second-tier cities [14]. - Analysts suggest that the second half of 2025 may present a turning point for the industry, with potential recovery driven by policy adjustments and improved buyer confidence [13][14]. - The top 100 real estate companies reported a total sales amount of 18,364.1 billion, a year-on-year decline of 11.8%, but the rate of decline is narrowing [13].

Core Insights - Shenzhen's first Joy City opened on July 12, marking a significant addition to the commercial landscape of the Guangdong-Hong Kong-Macau Greater Bay Area after 15 years of development and multiple delays [1] - The opening day saw over 420,000 visitors and nearly 20 million yuan in sales, with many brands achieving national and local sales championships [1][3] - The commercial environment in Shenzhen is highly competitive, with 21 new projects expected to open by 2025, adding a total of 1.8625 million square meters of commercial space [1] Group 1: Commercial Performance - Shenzhen Joy City attracted over 420,000 visitors on its opening day, generating sales close to 20 million yuan, excluding Apple and automotive sales [1] - Nearly 100 brands achieved national sales champions, and around 50 brands topped sales in Shenzhen [1] - The shopping center features over 400 quality brands, with more than 50% being first stores and customized stores, focusing on trends like family, trendy toys, and pet economy [3] Group 2: Innovative Offerings - The shopping center includes unique spaces such as an open-style trendy cross street, a 4,000 square meter rooftop garden, and a 30,000 square meter "underground city" [6] - The center hosts several themed pop-up stores, including Disney's Toy Story and other popular IPs, enhancing the social and experiential aspects of shopping [6][7] - The introduction of a Hema Fresh store, which is the first hot pot experience center in the nation, showcases innovative retail strategies [3] Group 3: Competitive Landscape - The commercial real estate market in Shenzhen is intensifying, particularly in Bao'an District, which is projected to have nearly 40 commercial complexes by 2024, totaling over 3.1 million square meters [10] - Major competitors include local developers like Hongrongyuan and established brands like K11, which have been expanding their presence in the region [10][11] - The increasing number of commercial complexes necessitates differentiation through effective brand attraction and a well-curated mix of retail offerings [11]

Core Viewpoint - The performance of listed real estate companies reflects their efforts during the market adjustment period, with mixed results in the latest half-year earnings forecasts for 2025, indicating a divergence in strategies among different companies [1][2]. Performance Overview - Many real estate companies continue to experience performance declines compared to the same period last year, with companies like Jin Di, Huashang, and Greenland reporting increased losses [1][3][4]. - Vanke reported a sales amount of 69.11 billion yuan in the first half of the year, with expected net losses between 10 billion to 12 billion yuan, slightly worse than the previous year's losses [3]. - Poly Developments remains one of the few profitable companies, although its profits have decreased compared to last year [5]. - Smaller companies like Huashang, Rongsheng, and others have also seen expanded losses, while some companies like Xinda Real Estate have managed to reduce their losses [5][6]. Market Conditions - The real estate market has shown signs of stabilization since the fourth quarter of last year due to various supportive policies, but the overall performance of real estate companies remains under pressure [1][8]. - National statistics indicate a decline in new housing sales area and sales revenue, with a 3.5% drop in sales area and a 5.5% drop in sales revenue in the first half of the year [8]. Strategic Responses - Some companies, such as Dayue City and Guangyu Group, have turned losses into profits due to increased settlement scales and high-margin projects [6][7]. - Companies are adopting cost-saving measures to improve efficiency and reduce expenses [7]. Future Outlook - The real estate market is expected to continue experiencing fluctuations, with government policies aimed at stabilizing expectations and activating demand [11]. - The performance of real estate companies in the second half of the year will depend on their ability to manage high-cost land and the overall market recovery [11].

Core Viewpoint - Shenzhen's first Joy City officially opened on July 12, 2023, after 15 years of development and multiple delays, attracting significant consumer interest and sales on its opening day [1][5]. Group 1: Opening Day Performance - On its opening day, Shenzhen Joy City attracted over 420,000 visitors and achieved nearly 20 million yuan in sales [2]. - The project has a total area exceeding 730,000 square meters, with the shopping center covering approximately 250,000 square meters [5]. Group 2: Market Positioning and Competition - Shenzhen's diverse consumer base includes trend-seeking youth and quality-focused middle-to-high-income groups, leading to different strategies between northern and southern commercial entities [2]. - Northern commercial entities, like Joy City, typically leverage first-store economies and IP events to attract younger consumers, while southern counterparts focus on art exhibitions and immersive experiences to draw high-end clientele [2][10]. Group 3: Development Challenges - The development of Shenzhen Joy City faced significant challenges, including a 7-year negotiation for land acquisition and a lengthy demolition process, with the first phase completed in 2019 [5]. - The project was initiated in 2010 through a framework agreement with the Shenzhen Bao'an District government [5]. Group 4: Future Prospects and Expansion - By the end of 2024, Joy City plans to have 44 commercial projects in China, with 30 being heavy asset projects and 14 light asset projects, totaling a commercial area of 3.75 million square meters [7]. - The opening of Shenzhen Joy City is part of a broader trend, with multiple commercial projects, including K11 and other shopping centers, launching in Shenzhen this year [9]. Group 5: Market Dynamics - The commercial landscape in Shenzhen is becoming increasingly competitive, with nearly 40 commercial complexes in Bao'an District alone, totaling over 3.1 million square meters [9]. - The differentiation in commercial strategies between northern and southern entities reflects deeper corporate philosophies and market approaches [10][12].

大悦城控股集团股份有限公司第十一届董事会公告 证券代码：000031 证券简称：大悦城 公告编号：2025-038 大悦城控股集团股份有限公司 关于为控股子公司眉山加悦置业有限公司提供担保及担保进展 的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 一、担保及担保进展情况概述 置业有限公司（以下简称"眉山加悦"）已于 2021 年向中国农业银行股份有限公 司成都成华支行（以下简称"农业银行"）申请 4 亿元贷款，期限 4 年，用于眉 山加州智慧城项目的开发建设。公司与农业银行签订了《保证合同》，按间接持 股 36.4%的股权比例为眉山加悦在借款合同项下的借款 14,560 万元提供连带责 任保证担保，眉山加悦其他股东按照各自股权比例提供同等条件连带责任保证担 保。详见公司于 2021 年 7 月 20 日发布的《关于为公司控股子公司眉山加悦置业 有限公司提供担保的公告》。 近日，公司、眉山加悦与农业银行签订了《借款展期协议》，对原借款合同 项下借款本金余额 23,613 万元申请展期，期限 2 年，公司按照原《保证合同》继 续为上述展期贷款提供连带责任 ...

大悦城控股集团股份有限公司第十一届董事会公告 证券代码：000031 证券简称：大悦城 公告编号：2025-038 大悦城控股集团股份有限公司 关于为控股子公司眉山加悦置业有限公司提供担保及担保进展 的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 一、担保及担保进展情况概述 1、大悦城控股集团股份有限公司（以下简称"公司"）控股子公司眉山加悦 置业有限公司（以下简称"眉山加悦"）已于 2021 年向中国农业银行股份有限公 司成都成华支行（以下简称"农业银行"）申请 4 亿元贷款，期限 4 年，用于眉 山加州智慧城项目的开发建设。公司与农业银行签订了《保证合同》，按间接持 股 36.4%的股权比例为眉山加悦在借款合同项下的借款 14,560 万元提供连带责 任保证担保，眉山加悦其他股东按照各自股权比例提供同等条件连带责任保证担 保。详见公司于 2021 年 7 月 20 日发布的《关于为公司控股子公司眉山加悦置业 有限公司提供担保的公告》。 近日，公司、眉山加悦与农业银行签订了《借款展期协议》，对原借款合同 项下借款本金余额 23,613 万元申请展期 ...

Group 1 - The A-share market saw a rise in several real estate stocks, with Tianbao Infrastructure (000965) hitting the daily limit, and other stocks like Yucheng Development (000514), New Huangpu (600638), and Dayue City (000031) also experiencing gains [1] - The Central Urban Work Conference was held in Beijing from July 14 to 15, emphasizing the need for high-quality urban development and a focus on modernizing cities with characteristics unique to China [1][3] - The conference highlighted the transition of urbanization in China from rapid growth to stable development, shifting the focus from large-scale expansion to improving existing urban quality and efficiency [3] Group 2 - The conference outlined seven key tasks for urban work, aiming to enhance urban governance and development strategies [4] - Specific stock performance data showed significant increases, with Tianbao Infrastructure rising by 9.98% and achieving a year-to-date increase of 58.42%, while Yucheng Development increased by 5.81% with a year-to-date rise of 63.99% [2]