“未来的竞争是功能与效率之争”

Core Insights - Logistics is no longer viewed as a backend cost but as a profit lever that can be leveraged across various industries [9] - ESR Group has established a significant presence in China, managing approximately $14 billion in logistics assets across 170 locations in 39 cities [2] Industry Trends - The shift in global geopolitical dynamics highlights the importance of supply chain resilience, with Chinese manufacturing remaining a cornerstone of global production and trade [3] - China's transition to high-quality growth is creating unprecedented opportunities for the logistics sector [3][5] Company Strategy - ESR aims to be an enabler of infrastructure in the context of China's economic transformation, focusing on technology-driven, resilient supply chains and green infrastructure [5][11] - The company differentiates itself through its "Pan-Asia Pacific platform" and its deep local market knowledge, providing comprehensive services that support cross-regional investment and market expansion [6][11] Market Opportunities - The structural transformation of China's economy is expected to drive sustained demand for logistics real estate, particularly in e-commerce, new energy vehicles, and biomedicine sectors [8] - The government's "dual circulation" strategy is enhancing domestic demand and regional trade, further boosting the logistics infrastructure market [8] Future Outlook - The logistics industry is experiencing positive momentum, with expectations for continued growth in warehousing and logistics leasing markets driven by policy support and recovering demand [8] - The competition in logistics is shifting from location-based advantages to functionality and efficiency, with automation and AI expected to play transformative roles [9] ESG Initiatives - ESR is committed to sustainability, having integrated 522 electric vehicle charging stations with photovoltaic systems in China by the end of 2024, promoting low-carbon transportation [12]