Core Viewpoint - ST Yigou announced a guarantee for a financing application of up to 400 million RMB to support the business development of its subsidiary, Nanjing Rongning Supply Chain Management Co., Ltd [1] Group 1: Financing Details - The guarantee provided by ST Yigou represents 3.22% of the company's audited net assets attributable to shareholders for the year 2024 [1] - The trust plan is established by CITIC Jinzi Jiangsu Company, with ST Yigou and its subsidiary Jiangsu Suning Commercial as subordinate beneficiaries [1] Group 2: Collateral and Participants - Nanjing Dingbang Network Technology Co., Ltd., Tangshan Suning Yida Warehousing Co., Ltd., and Zhengzhou Suning Yida Logistics Co., Ltd. are providing collateral guarantees for this financing [1]

证券代码：002024 证券简称：ST 易购 公告编号：2025-050 苏宁易购集团股份有限公司 关于为子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、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、担保情况概述 1、为满足苏宁易购集团股份有限公司（以下简称"公司"）及子公司业务发 展需求，公司作为共同债务人为子公司南京融宁供应链管理有限公司（以下简称 "南京融宁供应链"）向中原信托有限公司（以下简称"中原信托"）管理的信托 计划申请不超过人民币 4 亿元的融资提供担保，该笔担保额度占公司 2024 年度 经审计归母净资产的比例为 3.22%。该信托计划由中国中信金融资产管理股份有 限公司江苏省分公司（以下简称"中信金资江苏公司"）与公司及公司子公司江 苏苏宁商业投资有限公司（以下简称"江苏苏宁商业"）共同委托设立，其中， 中信金资江苏公司分笔出资上限 4 亿元，认购信托计划优先级份额，作为优先级 受益人；公司及江苏苏宁商业以现金、南京融宁供应链和唐山苏宁易达仓储有限 公司（以下简称"唐山易达"）股权、应收债权分笔出资，认购信托计划劣后级 份额，作为劣后级受益人；中原信托作为信托 ...

二、董事会会议审议情况 1、以 8 票同意、0 票反对、0 票弃权的结果审议通过了《关于为子公司提供 担保的议案》。 具体内容详见 2025-050 号《关于为子公司提供担保的公告》。 证券代码：002024 证券简称：ST 易购 公告编号：2025-049 苏宁易购集团股份有限公司 第八届董事会第三十四次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、董事会会议召开情况 苏宁易购集团股份有限公司第八届董事会第三十四次会议于 2025 年 9 月 22 日以电子邮件方式发出会议通知，2025 年 9 月 25 日以通讯表决方式召开。 本次会议应出席董事 8 人，实际出席董事 8 人（其中：以通讯表决方式出席 董事 8 人，委托出席董事 0 人）。本次会议由董事长任峻先生主持，会议的召开 符合《公司法》和《公司章程》的规定。 苏宁易购集团股份有限公司 董事会 2025 年 9 月 26 日 ...

Core Viewpoint - The upcoming National Day and Mid-Autumn Festival holiday is seen as an optimal time for consumers in Shandong to purchase home appliances, with significant discounts available through various subsidy programs [2][3]. Group 1: Subsidy Programs - Shandong Suning.com will launch the "National Day Crazy Subsidy Season" on September 26, offering consumers up to 50% discounts through a combination of national, manufacturer, retailer, and bank subsidies [2][3]. - The "Five Advances" initiative, aimed at promoting the replacement of old appliances, has been implemented by the Shandong Provincial Department of Commerce, enhancing consumer engagement through community outreach [2][3]. Group 2: Market Impact - As of July 31, over 9.216 million consumers in Shandong participated in the appliance replacement program, generating a market growth of 39.83 billion yuan, with consumers receiving 6.86 billion yuan in government subsidies [3]. - The integration of government, enterprise, and community resources through the "Five Advances" initiative has effectively tapped into the potential of home appliance consumption, leading to increased customer engagement and higher average transaction values [3]. Group 3: Company Strategy - Suning.com is expanding its strategic presence in Shandong, moving from core cities to regional economic centers, and aims to provide comprehensive home appliance solutions by leveraging both online and offline channels [3][4]. - The company is actively responding to national consumption promotion policies, ensuring that the benefits reach consumers while collaborating with major brands to enhance product offerings and services [4].

Core Viewpoint - The launch of the "National Holiday Enjoy National Subsidy" campaign by Suning in Shandong aims to reshape the home appliance retail landscape and enhance market coverage and service capabilities during the peak consumption season of "Golden September and Silver October" [3][4]. Group 1: Campaign Launch and Store Openings - Suning officially starts the National Holiday subsidy season on September 26, with the grand opening of the first Suning Pro Super Flagship Store in Jinan and the first Suning Home store in Jining [1][4]. - The event was attended by key figures from the Shandong Home Appliance Industry Association and local government, highlighting the significance of the new store openings [1][3]. Group 2: Subsidy and Promotions - Suning offers substantial subsidies, with up to 50% off through various channels including national, factory, and bank subsidies, along with promotional gifts for purchases over certain amounts [4][11]. - Specific promotions include discounts on popular appliances such as a 12 kg washing machine for 999 yuan and a new energy-efficient air conditioner for 1599 yuan [4][11]. Group 3: Store Features and Consumer Experience - The Suning Pro store features over 10,000 square meters of smart living experience space, including unique areas for social interaction and family activities, targeting younger consumers [8][9]. - The Jining Suning Home store focuses on self-selected quality products and offers interactive experiences like free clothing care and food baking [9][12]. Group 4: Strategic Development - Suning's strategy in Shandong is to deepen its market presence from core cities to regional economic centers, creating a multi-layered and comprehensive network [11]. - The company emphasizes the integration of online and offline services to provide consumers with complete home appliance and home decoration solutions [11][12].

Core Insights - The upcoming Mid-Autumn Festival and National Day are driving a surge in consumer activity, with Suning.com planning to open seven new Suning Max stores in key cities to capitalize on this demand [1][6] - The new stores are expected to enhance local economies and boost physical retail consumption during the peak shopping season [1][6] Company Developments - Suning Max store in Nanchang, the first in Jiangxi, will cover over 25,000 square meters and offer a comprehensive upgrade in store experience, product launches, and service offerings [3][5] - The Nanchang store will feature over 100 domestic and international brands, including more than 50 flagship experience centers for new product launches [5][6] - The store aims to transform the shopping experience from functional sales to immersive lifestyle experiences, emphasizing customization and emotional engagement [5][6] Service Innovations - The Nanchang Suning Max store will introduce seven service commitments, including a 7-day return policy, 30-day price protection, and a full-service approach for home appliances [5][6] - Additional free services will include phone screen protection, design consultations, and various customer conveniences such as rest areas and charging stations [5][6] Marketing and Events - The opening day will feature a "Super Max Carnival," blending local culture with modern trends, including traditional craft demonstrations and interactive activities [6] - Collaborations with brands for events such as celebrity meet-and-greets, product launches, and community engagement activities will enhance the festive atmosphere [6] Industry Implications - The rapid expansion of Suning Max stores signifies a shift towards experiential retail, aiming to attract younger consumers and create a social shopping environment [6] - This strategy is expected to set a new benchmark in the home appliance and consumer electronics retail sector, promoting a more engaging and interactive shopping experience [6]

Core Insights - Suning.com is set to launch its 2025 Double 11 shopping festival after the National Day holiday, with a promotional period lasting approximately one month [1] - The event will feature various promotional nodes including "Billion Subsidy Day," "Member Day," and "New Product Day," focusing on key categories such as home appliances, personal care, and daily necessities [1][2] - The company aims to enhance customer engagement through a multi-channel approach, leveraging platforms like Douyin, Pinduoduo, and Kuaishou for targeted marketing and customer acquisition [1][2] Group 1 - The Double 11 promotion will include significant incentives such as 100,000 red envelopes and 50% off deals during live broadcasts on October 31 and November 11 [1] - Suning.com plans to create a "Super Live Broadcast Hub" that integrates live streaming capabilities across multiple platforms, providing exclusive services for partner merchants [2] - The company will host over 1,000 brand-specific live events and introduce a nationwide college live streaming competition to engage younger consumers [2] Group 2 - Suning.com will offer AI-driven tools for content production and data insights to assist merchants in customer acquisition and store promotion during the Double 11 period [2] - The company is committed to collaborating with suppliers to invest in significant traffic and subsidies, aiming for comprehensive coverage across various online platforms [1][2] - The strategy includes enhancing operational capabilities through multi-channel incentives and leveraging influencer resources from platforms like Xiaohongshu and Bilibili [2]

Core Insights - Suning.com has officially launched its preparation for the 2025 Double 11 shopping festival, focusing on enhancing merchant support and consumer experience through various promotional strategies [1][3]. Group 1: Promotional Strategies - The Double 11 promotion will last approximately one month, featuring key events such as "Billion Subsidy Day," "Member Day," and "New Product Day" to drive consumer engagement [1]. - The platform will implement multiple promotional tactics including "consumption vouchers," "category-wide returns," and "flash sales" to attract consumers [1][4]. Group 2: Merchant Support and Collaboration - Suning.com aims to assist merchants by providing extensive traffic and subsidy support, collaborating with suppliers to enhance product visibility and sales [3]. - The company will open its AI content production and data insight tools to partners, facilitating precise customer acquisition and content management [4]. Group 3: Live Streaming and Engagement - A "Super Live Streaming Hub" will be established, integrating capabilities across multiple platforms to enhance live shopping experiences [3]. - The company plans to host over 1,000 brand-specific live streams and engage with Gen Z influencers to tap into the younger consumer market [3][4].

Group 1 - The core idea of the collaboration between Suning.com and Panasonic is to launch the "Smart Life Renewal Plan" to enhance holiday quality consumption through technology and innovative products [1] - The partnership aims to provide a one-stop solution for consumers, integrating technology into daily life with a focus on new product launches, experiential scenarios, and diverse services [1] Group 2 - Suning.com and Panasonic have introduced several high-end technology products, including the ALPHA G5 washing and drying machine, which features a "four-in-one" design, and the Big Seal Pro refrigerator, which offers a 515L capacity with advanced preservation technology [3] - The new products embody the design philosophy of "invisible technology, visible experience," enhancing the quality of holiday life for consumers [3] Group 3 - Suning.com stores will be transformed into experiential laboratories for technology products and holiday living, featuring a "one-click renewal" experience area for laundry needs and a "holiday banquet living room" showcasing food preservation and quick ice-making solutions [5] - These setups allow consumers to directly experience the functional characteristics of the products and appreciate how technology enhances their quality of life [5] Group 4 - During the holiday period, Suning.com and Panasonic will host various interactive and experiential activities in stores, including free garment care services and tasting events for fresh seafood and produce [7] - The collaboration aims to shift consumer focus from "functional consumption" to "conceptual consumption," emphasizing the transition from merely owning products to enjoying a quality lifestyle [7]

Core Insights - Suning.com has officially launched its preparation for the 2025 Double 11 shopping festival, focusing on enhancing merchant support and consumer experience through various promotional strategies [1][3]. Group 1: Event Overview - The Double 11 promotion will last approximately one month, featuring multiple phases such as early purchase, peak sales, and special discount days [1]. - Key promotional events include "Billion Subsidy Day," "Member Day," and "New Product Day," targeting essential categories like home appliances, 3C products, and daily necessities [1]. Group 2: Merchant Support and Collaboration - Suning.com aims to assist merchants in achieving efficient growth by implementing comprehensive strategies including full-channel traffic generation, live streaming ecosystems, and precise operations [1][3]. - The platform plans to collaborate with suppliers to invest significant resources in traffic and subsidies, enhancing user acquisition through various social media platforms [3][5]. Group 3: Live Streaming and Engagement - A "Super Live Streaming Hub" will be established, integrating capabilities across multiple platforms to provide exclusive services for merchants [3]. - Over 1,000 live streaming events will be organized, including brand-specific sessions and AI-driven content, to attract target audiences and stimulate new demand [3][5]. Group 4: Consumer Experience Enhancement - Suning.com is committed to providing a seamless shopping experience for consumers, emphasizing convenience and quality service [5]. - The company will offer integrated services and tools to merchants, aiming for a win-win situation for users, merchants, and the platform [5].