Core Viewpoint - Beike's subsidiary, Beihome, has announced the cessation of its self-operated development projects, marking a strategic shift from being a developer to focusing on its core strengths in the real estate market [1][2][8]. Group 1: Strategic Shift - Beike's decision to stop self-operated development is interpreted as a proactive strategy to concentrate on its core competencies rather than a reaction to poor sales performance [2][12]. - The self-operated projects primarily included Chengdu Beichen S1 and Shanghai Beilian C1, with the latter's sales performance being a focal point of analysis [3][8]. Group 2: Sales Performance - Shanghai Beilian C1 launched on October 26, 2025, offering 144 residential units, achieving a subscription rate of 61.1% with 88 effective customer registrations, ranking 17th among 32 new launches in Shanghai for October [3][8]. - As of December 16, 2025, 77 units had been sold from the initial batch, resulting in a sales rate of 53.5%, indicating a mid-tier performance in the market [9][10]. Group 3: Market Conditions - The second batch of Beilian C1 is currently in the subscription phase, offering 112 units at an average price of 44,000 yuan per square meter, which is an increase of nearly 500 yuan from the first batch [10]. - The market is experiencing a cooling trend, which may affect the subscription rates for the second batch compared to the first, although a potential increase in demand could indicate strong market acceptance [10][12]. Group 4: Operational Insights - The decision to exit self-operated development is largely attributed to cost-effectiveness, as real estate development is capital-intensive and current market conditions have led to slower sales, reducing capital efficiency [12][13]. - Beike aims to leverage its strengths in a light-asset model, focusing on connecting supply and demand in the real estate sector rather than competing as a developer [12][13].

今年，食品饮料行业的收并购事件频频发生，星巴克中国易主博裕，可口可乐在评估剥离Costa咖啡业务，雀巢也传出想出售蓝瓶咖啡（Blue Bottle Coffee）。 其中，不少资产出售价格远低于买入价，出现明显的价格缩水： 雀巢2017年以约7亿美元估值收购蓝瓶咖啡68%股权，如今传出以低于7亿美元的价格出售（只卖门店、保留品牌）。 可口可乐2018年以39亿英镑（约合51亿美元）收购Costa咖啡，如今也被曝考虑大幅折价出售，交易价格相较购入价已明显缩水。 这些曾经代表了精品、高端化的生活方式品牌，如今却成为了"包袱"，在资产负债表上成为累赘。 这篇内容，我们尝试讨论三个问题： 一、为什么剥离的往往都是实体门店业务 相比快消行业，线下实体零售生意更非标、不容易复制，也面临更高的管理难度。 先回答一个问题，快消品行业和实体门店业务有什么不同？ 更重要的是，在快消品巨头的业务结构下，实体门店业务很难成为战略级业务，很难获得足够多的资金和资源投入到门店扩张中，所以逐渐在市场竞争中 缺失竞争力，进而成为边缘化业务，到了被甩卖的境地。 快消行业提供的是产品，实体门店提供的是产品+服务+空间，不同的行业需要的能力不同。 ...

这也不是恒隆今年首次在核心商圈的大手笔动作。 今年下半年，恒隆接连拿下杭州百货大楼、无锡新世界百货等热门商业项目的经营权。随着地产进入调整周期，曾经重金投入的恒隆，在内地市场的跑马 圈地也换了一种更轻的姿态。 当LV将"路易号"巨轮停靠在南京西路兴业太古汇，不远处的老牌重奢商场上海恒隆广场开始坐不住了。 12月12日，恒隆地产宣布与上海九百（集团）有限公司（下称"上海九百"）达成合作，接手南京西路1038号（即梅龙镇广场）的商业运营。 根据规划，恒隆将以20年营运租赁模式经营梅龙镇广场，为与之相邻的上海恒隆广场新增约9.6万平方米体量，使其整体规模扩大44%至约31.23万平方 米。未来，梅龙镇广场将升级为涵盖零售、酒店、办公的综合商业地标。 "南京西路不仅是沪上乃至全国顶级时尚及商业地标，更是承载上海文化底蕴与历史记忆的核心脉络。"恒隆地产行政总裁卢韦柏用"具有划时代意义"来形 容此次合作。 事实上，自2001年上海恒隆广场开业以来，恒隆几乎完整经历了奢侈品行业在中国从启蒙到成熟的二十年。但随着奢侈品消费持续遇冷，更追求独特文化 体验和情绪价值的年轻一代崛起，传统的奢侈品零售模式面临压力。另一方面，兴业太古 ...

据此，以大数据和AI算法模型为基础，贝好家推出C2M定位方案，希望通过对客户需求的深度洞察和 挖掘，实现对目标客户意向的产品类型和价格预期提前预测，并以此指引楼盘产品定位。 作为贝好家首个操盘项目，成都贝宸S1被其视为充分验证C2M模式与全链条开发能力的"样板之作"，因 此自拿地之初就受到了各方关注。 "好房子仍然热销" "市场的供求关系已彻底改变，从2021年开始，行业由卖方市场转为买方市场，客户购房更加谨慎，成 交周期变长。"徐万刚表示，然而当市场下行时，获客变得困难，房企销售费率也在增长，但"匹配客户 需求的好房子仍然热销，好房子、好服务仍大有可为"。 贝好家首次正式对外回应近期市场质疑。 2023年7月，贝壳进行了"一体三翼"战略升级，贝好家事业线正式成立。通过近两年对头部10城新开盘 的1350多个项目进行摸排调研，贝好家发现，高品质项目流速更佳。 "贝好家并不想成为一家开发商，轻资产模式更有利于公司发挥优势。"12月12日，贝壳集团副董事长、 贝好家CEO徐万刚在成都贝好家C2M（Customer to Manufacturer，消费者到制造者）全链解决方案发布 会上明确解释，这一决策并非源于现有 ...

Core Viewpoint - Beike Group's subsidiary, Beihome, emphasizes its focus on a light-asset model rather than becoming a developer, aiming to leverage its strengths in the real estate market [1][3] Group 1: Company Strategy - Beihome's CEO Xu Wanggang stated that the decision to not pursue self-operated projects is not due to poor market performance but rather a strategic shift to collaborate with developers [1][3] - The company aims to focus on its C2M (Customer to Manufacturer) model, which is designed to better meet customer needs through comprehensive services and partnerships with other real estate firms [1][2] - Beihome has launched its C2M positioning plan based on data and AI algorithms to predict customer preferences and guide product positioning [2] Group 2: Market Performance - As of December 11, the Beichen S1 project in Chengdu achieved 20 signed contracts within a month of opening, ranking second in total signed contracts for high-end residential properties in the city for 2025 [1][2] - The Shanghai Beilian C1 project also performed well, ranking third in sales area and number of units sold in November [1][2] Group 3: Future Collaborations - Beihome is exploring new collaboration methods, not limited to developers but also including city investment companies, construction agents, and financial partners [4] - The company has established 17 projects across major cities such as Beijing, Shanghai, and Guangzhou, collaborating with various real estate firms [3]

"荟聚打包被卖"传闻靴子落地，一场资产交易悄然改写中国商业地产的格局。近日，英格卡集团正式官宣与高和资本达成战略合作，双方成立专项基金持有 无锡、北京、武汉三座核心荟聚项目。荟聚的交易并非孤例，凯德投资在近期也完成了第二只境内子基金募集，旨在运用青岛凯德MALL项目。除了商业地 产方面，如汉堡王中国、星巴克中国等外资品牌也接连将中国业务出售给本土资方。可见，不论是外资商业巨头还是中国商业地产商，均已彻底告别"开发 商时代"，迈入"资产管理人时代"。 英格卡联手高和资本 继汉堡王、星巴克后，又一消费领域外资品牌找到了自己的"中国合伙人"。近日，英格卡购物中心宣布与高和资本达成战略合作，双方将成立一只专项不动 产基金，共同持有无锡荟聚、北京荟聚、武汉荟聚三座体验中心。 这一合作模式下，英格卡将继续持有荟聚品牌，并继续以荟聚品牌独家管理和运营所有体验中心。据介绍，宜家中国将于无锡荟聚内开设并运营一家新的门 店。宜家无锡商场现有物业资产将作为交易的一部分，改造为无锡荟聚全新租赁空间。 英格卡购物中心全球总裁安心迪表示，英格卡集团扎根中国市场多年，不断贴近本土需求，提供更加触手可及、可持续的服务和体验。去年，该集团以全 ...

Core Insights - JD Industrial's IPO on December 11 raised significant attention, with 2.827 billion HKD in subscriptions and a closing price of 14.1 HKD, matching the issue price, resulting in a market capitalization of 37.9 billion HKD [1][30] - The company turned a profit in 2023, projecting a net profit of 760 million CNY in 2024 and 450 million CNY in the first half of 2025, indicating a positive financial trend [2][30] - The IPO is seen as a recognition of the development of China's industrial internet sector and the company's innovative business model, which goes beyond traditional industrial e-commerce [3][30] Business Model and Market Position - JD Industrial operates in the MRO (Maintenance, Repair, and Operations) sector, characterized by a vast array of products, scattered demand, and high management costs [4][31] - The MRO market in China is highly fragmented, with the top five companies holding only about 1.5% market share, contrasting sharply with the 30%-45% concentration in the U.S. [6][7][33] - The company aims to address key MRO industry challenges, including product variety, demand dispersion, and the need for efficient supply chain solutions [3][10][11] Supply Chain Strategy - JD Industrial's strategy involves leveraging its digital capabilities to enhance supply chain efficiency, utilizing a model that integrates extensive SKU coverage with deep service offerings [11][37] - The company has developed a supply chain model that connects various suppliers' inventories, allowing for rapid fulfillment and reduced inventory costs [19][42] - JD Industrial's approach contrasts with traditional heavy asset models in the MRO sector, focusing instead on a "light asset" model that emphasizes data-driven logistics and supply chain solutions [15][20][38] Market Potential - The Chinese MRO market is projected to reach 3.7 trillion CNY in 2024, significantly larger than the U.S. market, with a compound annual growth rate of 4.2% expected until 2029 [24][46] - The digital MRO segment is experiencing a much higher growth rate of 21.7%, indicating substantial potential for expansion in this area [48] - JD Industrial's strategy includes deep integration into large enterprises' supply chains, positioning itself as a critical partner in their digital transformation efforts [27][49] International Expansion - JD Industrial plans to support Chinese manufacturing companies in their international ventures, offering tailored supply chain services that adapt to different stages of production [29][51] - The company has already established services in countries like Indonesia, Brazil, and Hungary, applying its digital capabilities to international markets [51]

Core Insights - The article discusses the transformation of Chengdu Juding Longteng Catering Management Co., led by General Manager Zhou Tao, from facing challenges of heavy asset expansion and weak single-category growth to integrating resources and building a new dining ecosystem through a platform mindset [1][3]. Group 1: Challenges and Transformation - Zhou Tao, an entrepreneur with 23 years in the catering industry, faced significant challenges post-pandemic, particularly in the single hot pot sector [3]. - The training camp provided Zhou with a new understanding of the industry, emphasizing "6 redefinitions and 4 strategies" as pivotal turning points [3]. - A key breakthrough was the reconstruction of customer positioning, shifting focus from business banquets to targeting the 25-35 age group in open and naturally appealing environments [3][5]. Group 2: Business Model Innovation - The company expanded its offerings beyond hot pot to meet the all-day consumption needs of younger consumers, introducing convenient breakfast snacks, home-style dishes for lunch, barbecue and beer for night-time, and health-oriented mushroom soup hot pot [5]. - Zhou was inspired by the "lightweight strategy" to avoid heavy investments in opening new stores, opting instead to integrate resources and operate as a platform [6]. - The business adopted a revenue-sharing model with professional teams for non-core areas, reducing labor and management costs while allowing experts to handle specialized tasks [6]. Group 3: Growth Strategy and Ecosystem Development - The "13+1 business model innovation" course helped Zhou understand that expansion is about replicating successful systems rather than merely opening new locations [6]. - The company established a full-link customer acquisition system through live streaming, short videos, and private domain conversion, significantly lowering promotional costs [6]. - The diverse business model improved space utilization and mitigated operational risks associated with a single category [6]. Group 4: Collaborative and Community Approach - Zhou's team engaged in resource integration, collaborating with peers in the cultural tourism sector to leverage each other's strengths, leading to plans for opening three garden-style hot pot restaurants next year and expanding to 20 within five years at only one-fifth of traditional investment costs [8]. - The establishment of the "Longteng Catering Alliance" allowed for quick matching of dining services for cultural tourism projects, enhancing project efficiency and creating new opportunities for alliance members [8]. - The training camp instilled a culture of altruism within the company, with Zhou actively helping alliance partners improve operations, fostering stronger collaboration and ecosystem cohesion [9].

are the play 方都市報 奥一阿OBCCCpans 值得关注的是，作为天猫户外榜单第三位的头部品牌，伯希和（PELLIOT）在"双11"大促启幕前数日更 新了招股说明书，再度向港交所主板发起上市冲刺。这家国货运动户外代表企业，凭借过去数年超 116%的复合年均增长率，在行业竞争中快速突围，成为市场关注的焦点。 不过，在消费者聚焦产品的性能和品类时，资本市场更关注的，是其商业模式的可持续性。南都湾财社 记者梳理发现，品牌对电商渠道的深度依赖以及"轻研发、重营销"的商业模式等问题，都为这家企业的 IPO进程增添了更多待解的疑问。针对核心壁垒、品控模式、渠道盈利及公司治理等市场关心的核心问 题，记者日前向品牌发去采访函，但截至发稿尚未收到回应。 利润与营收双重爆发 CEO获近800万元股权结算奖励 在户外服饰赛道持续升温的背景下，伯希和交出了一份颇为亮眼的业绩答卷。招股书披露的数据显示， 2022年，公司实现营收3.78亿元，归母净利润（期内溢利）达2431.1万元；进入2023年，营收规模扩张 至9.08亿元，较2022年激增约140%；归母净利润同步攀升至1.52亿元，同比增幅更是高达525%，实现 ...

"卖卖卖"的万达突然开始买了！ 这个曾抛售几十座广场的商业巨头，为何突然赎回烟台芝罘万达广 场？当很多人都在讨论万达是否在"断臂求生"时，这一记"回马枪"，又引起了媒体和网友的关注。 | 变更记录59 0 0 | | | | 变更项目 · 学更时间 · | ■ 得出 ◎ 作者查 | | --- | --- | --- | --- | --- | --- | | 你是 | 变更日期 | 受第項目 | 受更前 | 安更后 | 8 | | 2025-12-02 | | 重程备量 | | | | | 2 | 2025-12-02 | 投资人变量(包括出资量。 | 酸压(发起人)名称J和(天津)股权股密台状企业(有限合 | 服东(发起人)名称上海万达朗维企业管理有限公司 【和当】 | | | | | 如图方式,出资日期,投资 | 快)【退出】 | 认数出资额:70800万 | | | | | 人名称母) | 认障出创新:70792.92万 | 认敷出密方式投诉 | | | | | | 认做出资方式提示 | 认缴出资日款2024-06-21 | | | | | | 认应出资日期:2024-06-21 | 实数出强开种人民 ...