"近年来，房地产行业面临较大的调整压力，房企普遍面临较大的经营压力和债务风险。"对于此次重组 原因，*ST中地方面在业绩会上表示，公司剥离房地产开发相关业务可实现公司的战略转型且未来会持 续增强盈利能力。同时，上市房企宣布退出房地产开发业务已有案例，2024年以来已有多家房企宣布退 出房地产开发业务，亦有多家房企宣布重大资产重组已实施完毕。 "上市公司房地产开发业务持续处于亏损状态，为实现长期稳定发展的目标，上市公司拟将持有的房地 产开发业务相关资产及负债转让至控股股东地产集团。"在交易预案中，*ST中地方面也表示，此次重 组将有利于上市公司优化业务结构。 值得注意的是，近两年，*ST中地持续亏损，营收也有所下滑。Wind数据显示，2023年度至2024年度， *ST中地归母净利润累计亏损约68.52亿元。 在日前召开的2024年度业绩说明会上，中交地产股份有限公司（000736.SZ，以下简称"*ST中地"）"去 地产"重组颇受关注。 据此前披露的重组预案，*ST中地拟将其持有的房地产开发业务相关资产及负债转让至公司控股股东中 交房地产集团有限公司（以下简称"地产集团"），相应交易拟采用现金方式支付，但评估 ...

5月12日，旭辉控股集团有限公司(以下简称"旭辉控股")召开债权人电话会议，公司董事局主席林中， 首席财务官杨欣，境外重组负责人朱皋鸣在会上向债权人系统阐述了重组进展、未来战略及复苏路径， 展现出公司"活下来、站起来"的坚定信心。 杨欣强调，随着本轮重组落地，公司整体净负债率将加速回归健康水平，有息债务结构更加优化，股东 权益亦将持续提升，资本结构更趋稳健。 在此基础上，他建议广大债权人优先考虑"债转股"选项。他认为，股票流动性优于有息债务且具价值想 象空间，转股既可优化资本结构，又赋予债权人灵活退出通道及未来增值机会。与此同时，旭辉控股境 外债占比高，重组后债务结构改善明显，为价值修复奠定基础；从债权人变成股东，与公司发展利益一 致，大股东和管理层也更有信心持续为所有股东创造最大价值。 旭辉控股境外债重组目前已进入最关键阶段，朱皋鸣表示，公司已在5月7日公告"计划安排通知"，5月 26日下午5点，是托管指令截止日期。投票结束后，计划在6月3日下午8点召开债权人会议；6月26日上 午10点在香港高等法院进行核准聆讯。 同策研究院研究总监宋红卫向《证券日报》记者表示，近期，上海、北京、杭州等核心城市楼市销售持 ...

Core Viewpoint - Qujiang Cultural Tourism has faced significant financial difficulties, leading to multiple judicial auctions of its shares due to the debt issues of its controlling shareholder, Qujiang Travel Investment Group [2][3][4] Group 1: Share Auctions and Financial Issues - Qujiang Cultural Tourism's shares will be publicly auctioned from May 28 to May 29, 2025, with a starting price of 145 million yuan for 16 million shares [2] - This marks the fourth time Qujiang Cultural Tourism's shares have been subject to judicial auction since 2024, with a total of approximately 28.23% of its total shares being auctioned [3] - The controlling shareholder, Qujiang Travel Investment, has been involved in multiple lawsuits due to debt issues, including claims totaling approximately 1.29 billion yuan and 575.34 million yuan from various creditors [3][4] Group 2: Financial Performance - Qujiang Cultural Tourism has reported cumulative losses of approximately 570 million yuan over the past three years, despite operating popular tourist attractions [2][7] - In 2024, the company's revenue and net profit both declined, with net losses narrowing from 195 million yuan in 2023 to 131 million yuan in 2024 [7][9] - The company's revenue from its main business, scenic area management, which contributes about 52% of total revenue, has been affected by delayed collection of management fees [10][12] Group 3: Operational Challenges - The company operates under a light asset model, relying on management fees rather than ticket sales, which has led to significant accounts receivable issues, totaling 1.077 billion yuan by the end of 2024 [10][11] - High operating costs have also impacted profitability, with average annual operating costs reaching 970 million yuan, despite fluctuating revenues between 900 million and 1.5 billion yuan [12][14] - The company has initiated asset transfers and debt collection plans to address its financial challenges, with some repayments already received [11][12] Group 4: Recent Developments - In the first quarter of 2025, Qujiang Cultural Tourism reported a 23.67% decline in revenue to 306 million yuan and a net loss of approximately 43.61 million yuan [14] - However, during the recent May Day holiday, the company saw a surge in visitor numbers, with over 2.4 million visitors across its key attractions, indicating potential recovery in consumer interest [14]

以下文章来源于旅界 ，作者theodore熙少 传了很多年的"中国第三座迪士尼乐园"最终没能落地在西安、成都、武汉、广州，反而跑去了中东。 昨天，华特迪士尼公司宣布与阿布扎比政府旗下的米拉尔集团达成协议，计划在波斯湾建设一座新的迪士尼主题公园度假村，这座主题乐园将成为迪 士尼全球主题乐园产业中的第七个成员。 旅界 . 跟踪时代浪潮，讲述文旅商业好故事。 本文来自微信公众号： 旅界 （ID：tourismzonenews） ，作者：theodore熙少，题图来自：AI生成 一 迪士尼官网正式官宣阿布扎比新园区 根据官方新闻，这座阿布扎比"中东版迪士尼乐园"将包含经典迪士尼城堡、现代版的经典游乐设施，并将根据中东气候和文化设计全新景点。 可以说，这不仅仅是一个迪士尼乐园的复制品，更是结合了阿布扎比特色的"中东土豪定制版"。 当看到盛产石油、王子、F1赛事、全球最豪酒店的阿布扎比终于搞定了"梦中情园"，我多少替一些国内城市感到可惜，这大概短时间内是不好再拿迪 士尼乐园来蹭流量了吧？ 说起来，这几年，"中国第三座迪士尼"每隔几个月就会在社交媒体上有模有样地发酵传播一轮，每次都像"他真的要来了！"然后，只有第N次辟谣和 ...

转自：新华财经 "'新投时代中心'的升级改造，是兰州新区产城融合战略的重要实践。通过与东百集团这样的专业运营 商合作，不仅能补齐区域商业配套短板，更能形成产商互促的良性发展格局。"甘肃省新投商业管理有 限公司副总经理牟德勇说，项目成熟运营后，将成为集购物、餐饮、娱乐、文化、社交、商务服务于一 体的一站式体验中心，打造成为兰州新区的城市会客厅+消费新地标，带动周边物业价值提升，成为助 推城市能级跃升的新引擎。 据介绍，"新投时代中心"项目将充分发挥东百集团在商业运营、品牌招商、顾客运营等方面的专业优 势，并依托"兰州中心"等标杆项目的成功经验，结合兰州新区本地消费特点，创新商业模式，使其成为 区域内规模领先、业态丰富的城市综合商业体，为消费者带来全新的消费体验。在双循环新发展格局 下，这场专业运营商与新兴增长极的强强联合，将为兰州新区城市发展注入新的发展活力，书写西北商 业升级的新篇章。（王恒尚） 编辑：赵鼎 近日，成功运营"兰州中心"商业项目的东百集团与甘肃省新投商业管理有限公司正式签署合作协议，全 面承接兰州新区"新投时代中心"项目的轻资产管理运营，这是东百集团在西北市场落地的第二个轻资产 项目，标志着其" ...

文｜消金界 持牌消金年报陆续出炉。当下消费金融行业呈现马太效应，头部增速放缓，中部黑马突围。 值得关注的是，虽然当下宏观整体信贷需求低迷，不少消金公司为了降低风险偏好采取主动性的战略性收缩，但是，也有不少腰部消 金公司的发展引人注目。 其中，江浙地区城商行对消金子公司的支持力度较大，尤其是后起的南银法巴、宁银消金，业绩突飞猛涨。（详见《巧了，南银法巴 和宁银消金2024年均赚了3.03亿元（附业务拆解）》）此外，以中邮、中原、海尔消金为代表的消金公司，净利润还能获得超过20% 的增长，实属不易。 消金界逐一分析这几家平台业绩上涨的原因。调研发现，在主营模式上，这三家消金公司均采取了基本形成"线上+线下"双轮驱动产 品体系，其业务渠道主要分为线下自营业务、线上自营业务以及线上联营业务。此外，探索API导流、联合贷等轻资产模式，也成为 不少消金公司未来的重要发力点。 中邮消金 优先合作头部平台、审慎介入尾部平台 近年来，不少消金公司致力于推动线上线下双轮驱动发展战略，以此来平衡风险，推动业务增长。中邮消金较早就制定了这一战略， 发展得比较好，也成为其他公司效仿的目标。 中邮消金的战略定位较为清晰。2024年，公司 ...

历经二十一载岁月沉淀，新财富金牌董秘评选已成为中国资本市场极具权威性与公信力的标杆评选，不仅见证 了中国资本市场蓬勃发展的壮阔征程，更以专业视角镌刻下时代变革的深刻印记。金牌董秘群体凭借卓越的专 业素养与创新实践能力，持续优化上市公司治理、深化投资者关系管理，已然成为推动中国资本市场向高质量 发展迈进的一股重要力量。 值此新财富董秘评选二十一周年之际，诚邀历届金牌董秘，分享企业战略、发展历程与职业经验，以实战洞见 解构资本风云，共探行业发展逻辑。 0 1 金牌董秘常阳的资本之道 常阳先生现任晶科电力科技股份有限公司（以下简称晶科科技）董事会秘书。自2021年加入公司以 来，其主导并深度参与了公司的资本市场运作与合规体系建设。「专注」和「专业」一直是其应对周 期和行业不确定性所信奉的资本策略，这也为晶科科技近年来的进化和重构提供了关键助力。 在光伏行业持续变化的大背景下，晶科科技之所以能够迅速把握行业发展的关键节点，常阳的一系列 资本运作发挥了重要作用。他的专业素养和丰富履历，在晶科科技的战略布局和资本决策中扮演了重 要角色。 在加入晶科科技之前，常阳曾担任上海申华控股股份有限公司证券法律部总经理等重要职务，并 ...

Core Viewpoint - The successful IPO of Hu Shang A Yi on the Hong Kong Stock Exchange reflects strong market confidence in its business model and growth potential, with a market capitalization exceeding HKD 18.1 billion after a significant stock price increase [1][3]. Group 1: Business Model and Growth - Hu Shang A Yi's rapid expansion is driven by a franchise-focused business model, with 99.7% of its 9,176 stores operated by franchisees across over 300 cities in China [4][5]. - The company has seen a strong reinvestment from existing franchisees, with 48.8% of new stores in 2024 coming from current franchisees, indicating a well-functioning franchise system [6]. - The average initial investment for a new store is approximately CNY 275,000, lower than the industry average, making it attractive for potential franchisees [6][7]. Group 2: Product and Supply Chain - Hu Shang A Yi has a diverse product line, including the "Light Enjoy" brand and "Hu Coffee," catering to various consumer preferences and enhancing franchisee profitability [7][9]. - The company sources ingredients globally, ensuring product quality and innovation, with over 100 new products launched from 2022 to 2024 [8][9]. - A centralized procurement platform helps maintain low ingredient costs, benefiting franchisees and creating a sustainable growth loop [8]. Group 3: Market Strategy and Positioning - The company is strategically focusing on the lower-tier markets, with 50.4% of its stores located in these areas by 2024, capitalizing on the expected rapid growth in these segments [9][10]. - The mid-priced tea beverage market is projected to grow significantly, with Hu Shang A Yi positioned to capture a substantial share due to its extensive network and brand recognition [13][16]. - The combination of its franchise model, product diversification, and focus on lower-tier markets positions Hu Shang A Yi for sustainable growth and competitive advantage in the tea beverage industry [19][20].

金石资源 20250508 摘要 • 金石资源一季度已基本恢复正常生产，停产矿山全面复产，包头选化一体 项目进展顺利，萤石资源选矿超产 30%，全年目标 60-70 万吨，轻资产 项目产量增加，成本下降，外门项目预处理调试中，营收和现金流显著增 长。 • 近期萤石价格略有回落至 3,500 元/吨，受下游需求及终端产品受美国关税 影响，开工率有所降低，但白银制品价格坚挺，需求稳定，总体看好未来 价格走势。 • 金石资源通过加强管理（外包转自营）应对矿山高风险，虽短期增加成本， 但为行业趋势。长期看，依赖机器人和无人化技术是根本解决方案，公司 正积极研发相关技术。 • 自营模式虽增加成本，但提高管理质量，符合非煤矿山自营趋势。龙泉试 点成本较高，因纳入大量工人和施工队，且公司需承担自营模式下的事故 赔偿责任。 • 矿山开采成本增加因素包括停产期间费用分摊、外购矿石、安全检查整改 投入（如支护设备）、人工费用、品位下降及权益金缴纳（如唐山港金矿 亏损）。 Q&A 请介绍一下金石资源在 2025 年第二季度的生产经营情况，包括 4 月和 5 月的 具体表现。 2025 年第二季度，金石资源的生产经营情况总体正常。去 ...

Core Viewpoint - The company, Gongxiao Daji, is undergoing significant restructuring and strategic shifts after overcoming a debt crisis, focusing on revenue stabilization and loss reduction while transitioning towards business reconstruction and new retail models [1][2]. Financial Performance - In 2024, the company's revenue is projected to increase slightly by 1.73% to 1.424 billion yuan, with net losses narrowing by nearly 50% to 1.324 billion yuan compared to the previous year [2]. - The first quarter of 2025 shows a critical turnaround, with quarterly losses reduced to 6.29 million yuan, a year-on-year decline of 95.18% [2]. Business Strategy - The company is shifting its strategic focus towards the Hainan Free Trade Port and the Guangdong-Hong Kong-Macao Greater Bay Area, indicating a move from survival to active business restructuring [2]. - Gongxiao Daji is embracing new retail formats, including high-end consumption, instant retail, and community services, while integrating traditional retail resources into new fields [3]. E-commerce and Sales Growth - In 2024, the company achieved 744 million yuan in traditional business revenue through six department stores and 61 supermarkets in South China [3]. - The e-commerce platform has launched over 100 agricultural products, achieving sales of over 340,000 jin, with some products reaching daily order volumes exceeding 43,000 and transaction amounts surpassing 6 million yuan [3]. - The e-commerce segment, particularly through the Super Collection platform, reported a GMV of 54 million yuan in the first half of 2024, a 256% increase compared to the same period in 2023 [3]. Instant Retail Development - The company is transforming its physical store network into instant retail fulfillment nodes, aiming to convert cost centers into profit centers [4]. - Collaborations with major platforms like Meituan and JD Daojia are set to deepen in 2024, enhancing the company's e-commerce and wholesale operations [4]. Operational Adjustments - The company is focusing on urban renewal and county-level commercial system construction, leveraging its assets for efficient resource allocation [5]. - Gongxiao Daji plans to enhance its logistics network and develop a dual circulation model for industrial and agricultural products, aiming to improve cash flow through the development of residential land [5].