Shanghai Xujiahui (SZ:002561) Shang Hai Zheng Quan Bao·2025-09-17 19:58Core Viewpoint - The company is adjusting its major investment project, the Shanghai Liu Bai Urban Renewal Project, to align with the updated urban planning requirements and enhance its future transformation and development [3][11][19]. Group 1: Board Meeting Summary - The 17th meeting of the 8th Board of Directors was held on September 17, 2025, with all 9 directors present, and the meeting complied with relevant laws and regulations [2]. - The board approved the proposal to adjust the major investment project, which will be submitted for shareholder approval [3][4]. - The adjustment is necessary due to significant changes in building indicators from the urban planning proposal, aiming to align the project with local planning and promote regional economic development [3][11]. Group 2: Project Adjustment Details - The project adjustment includes changes in construction content, functional positioning, and total investment to meet the updated urban planning requirements [11][14]. - The total planned investment for the Shanghai Liu Bai Urban Renewal Project is approximately 1.698 billion yuan, including related surrounding infrastructure projects [10]. - The board also approved a new round of design bidding for the project, with an estimated design contract amount not exceeding 15 million yuan [5][8]. Group 3: Impact and Feasibility Analysis - The project aims to enhance asset value by combining a serviced apartment hotel with flagship stores, catering to high-end consumer needs and stabilizing rental income [15][18]. - The adjustment is seen as a strategic move to cope with intense competition in the retail sector and to explore new paths for transformation [14][15]. - The company plans to dispose of approximately 22 million yuan of previously incurred costs related to the project, which will reduce the profit for 2025 by the same amount [19][20].