小商品城：5.69亿竞地建项目，一季度营收31.61亿

Core Viewpoint - The company has successfully acquired land in Hangzhou for a new project, indicating a strategic expansion in its operations and investment in infrastructure development [1] Company Summary - The company’s subsidiary, Hangzhou Shangbonanxing Real Estate, won the land use rights for a plot in Hangzhou for 569 million yuan, aimed at developing the Yiwu Market Hangzhou project [1] - The total estimated investment for the project is 1.099 billion yuan, funded through self-owned capital and some bank loans [1] - The project will cover a total construction area of 69,300 square meters, featuring two 14-story office buildings, with a construction period of 2-3 years [1] - The static investment payback period is projected to be 21.82 years, with a financial internal rate of return of 3.59% [1] Industry Developments - The company is focusing on four core strategies, emphasizing digital upgrades and trade facility layout [1] - In digital payment, the company launched the Yi Payment platform, which covers over 160 countries and regions, with a projected cross-border payment transaction volume exceeding 4 billion USD in 2024 [1] - The company’s GMV reached 1.202 billion USD in the first quarter of this year [1] - In smart trade, the company is developing the Chinagoods platform, expecting to register over 4.8 million purchasers by 2024, with operating revenue of 341 million yuan and net profit of 165 million yuan [1] - The company announced an investment of 8.321 billion yuan to build the Yiwu Global Digital Free Trade Center, with the main market structure completed and office space sold out [1] - A strategic agreement was reached with Alibaba Cloud to integrate resources for providing full lifecycle services [1] - The company reported a revenue of 3.161 billion yuan in the first quarter, a year-on-year increase of 17.93%, and a net profit of 803 million yuan, up 12.66% year-on-year [1]