Seazen(SH:601155) Ge Long Hui·2026-01-09 10:34Core Viewpoint - New City Holdings (601155.SH) has reported a stable and positive performance for the year 2025, achieving a total sales amount of 19.27 billion yuan and a sales area of approximately 2.5358 million square meters, indicating a strong operational outcome [1] Group 1: Financial Performance - In 2025, New City Holdings achieved a total sales revenue of 19.27 billion yuan, with a sales area of about 2.5358 million square meters [1] - The commercial segment saw a total revenue increase of 10% year-on-year, reaching 14.09 billion yuan, demonstrating steady growth [1] Group 2: Business Development - New City Holdings opened five new Wuyue Plazas in cities including Zibo, Shangqiu, Qingdao, Nanyang, and Changzhou in 2025, enhancing its commercial footprint [1] - By the end of Q4 2025, New City Holdings had established 207 Wuyue Plazas across 141 cities, with 178 plazas operational or under management, leading the number of openings among Chinese listed companies [1] Group 3: Strategic Initiatives - The company has focused on commercial model innovation, implementing the "Wuyue Operating Five-Step Method" and the "Yue Chain Plan" to enhance operational efficiency and partner collaboration [2] - Morgan Stanley's report in November highlighted New City Holdings' sustained commercial revenue growth and steady same-store sales, predicting an approximately 8% compound annual growth rate in rental income [2] Group 4: Corporate Culture and Vision - New City Holdings integrates a resilient and pragmatic "Camel Spirit" into its corporate culture, emphasizing determination, responsibility, and long-term vision [2] - The company's chairman, Wang Xiaosong, articulates that this spirit will guide New City Holdings in deepening its presence in the commercial real estate sector amid trends of consumption upgrades and green transformation [2]