菜百股份：祥云店开业打造消费新潮流

Group 1 - Beijing Caibai Jewelry Co., Ltd. (菜百股份) has opened its flagship store, the Caibai Jewelry Xiangyun Store, in Beijing, which is the largest direct chain store in the country, covering an area of 1,675 square meters, marking a key strategic transformation for the company [1] - The company reported steady growth in its 2024 annual report and 2025 Q1 report, with total proposed cash dividends amounting to 560 million yuan (including tax), resulting in a dividend payout ratio of 77.89% [1] - The growth in performance is attributed to the continued success of its direct sales model, with over a hundred direct chain stores across Beijing and other cities, as well as a comprehensive online sales network [1] Group 2 - The Xiangyun Store is part of the Beijing Zhongguancun Xiangyun Town, recognized as a key consumption district, and aims to create a new cultural and consumption experience, enhancing the brand's recognition and premium capability through scenario-based marketing [2] - The strategic significance of the Xiangyun Store extends beyond single-store operations, aiming to enhance user engagement through cultural experiences and promote the upgrade of traditional retail to an "experience economy" [2]