本次活动采用"行走中的发布会"形式，串联起"三新"消费展区、美团无人配送展示区、京东七鲜小厨展 示区等多个主题展区。潍坊市商务局、济南市商务局以及烟台、滨州、济宁等多地商务局负责同志分别 发布"三新"发展及暖冬消费季重点活动安排，其中潍坊市将抓住元旦、春节、元宵等重要节点，谋划推 出"三新"推广活动70项，其他重点促消费活动60个，囊括冰雪经济、银发经济、文体旅游、数字体验等 多个领域；济南市商务局负责同志则重点介绍了九如山度假区"冰瀑围炉节"、"如梦令"宋词主题演艺乐 园等"三新"消费场景的探索实践成果。在美团无人配送展示区，负责人具体介绍了其以自研L4级自动驾 驶技术结合美团即时零售业务打造的新一代无人配送车；京东七鲜小厨展示区负责人现场发布了"鲜享 暖冬·农创融合""三新"消费升级计划。现场活动氛围十分热烈，吸引了众多企业前来参展。 据了解，本次活动是商务部等6部委"购在中国"系列活动之一，也是"2025山东暖冬消费季"的重点配套 活动。活动所聚焦的新业态、新场景、新供给消费发展方向，分别指通过技术创新、模式创新形成的新 型商业形态；通过空间重构、场景再造打造的沉浸式、互动式消费空间；围绕品质消费、绿色 ...

Core Viewpoint - Yuyuan Group is actively adjusting its strategies to cope with the complex external consumer environment and industry pressures, focusing on cost reduction and efficiency improvement, resulting in stable and healthy overall operations and steady quality improvement in core business segments [1][2] Financial Performance - In the first half of 2025, Yuyuan Group reported revenue of 19.112 billion and a net profit attributable to shareholders of 630 million [1] - The company has abundant cash on hand, amounting to 11.79 billion, a 10% increase from the end of the previous year [1] - Operating cash flow reached 2.28 billion, representing a 71% year-on-year growth [1] - The asset-liability ratio stands at 68.18%, indicating a safe and reasonable level [1] - Management expenses decreased by 18% year-on-year [1] Core Business Development - The jewelry segment, as the core business, is gradually stabilizing after experiencing cyclical fluctuations, with a revenue of 12.8 billion in the jewelry fashion segment in the first half of the year, and 7.6 billion in the second quarter, reflecting a 47% quarter-on-quarter growth [2] - The commercial operation segment is also showing positive effects, with nearly 20 million visitors to Yuyuan Mall in the first half of the year and a 55% year-on-year increase in GMV [2] Strategic Adjustments - The company is undergoing structural adjustments to adapt to market trends and enhance capabilities, which is seen as essential for future high-quality development [2] - Yuyuan Group aims to embrace the "three new" consumption trends characterized by new business formats, models, and scenarios through technological and model innovations [2] New Business Formats - Yuyuan Group is actively promoting cross-industry integration, particularly in the jewelry and retail sectors, to tap into the potential of the "three new" consumption demands [3] - The company launched a collaboration between its jewelry brand Laomiao and the animation IP "Tian Guan Ci Fu," achieving over 1 million sales on the first day of its launch on Tmall [3] Global Expansion - Yuyuan Group has established globalization as a key new model for development, successfully hosting the Yuyuan Lantern Festival in Thailand, attracting over 4 million visitors [5] - The company is also expanding its restaurant brand Songhe Lou into the UK and its jewelry brand Laomiao into international duty-free markets [6] New Scene Development - The construction of the Dayuyuan area, which connects Yuyuan Mall with the BFC Bund Financial Center, is underway, aiming to create a comprehensive cultural and commercial complex [7] - Yuyuan Mall is undergoing renovations to better meet current consumer demands, including the restoration of the historic Huxin Pavilion [7][8] Event-Driven Opportunities - Yuyuan Lantern Festival has become a classic example of creating new consumption scenarios, attracting approximately 4 million visitors annually [8] - The Shanghai International Jewelry Fashion Functional Zone is being developed, which is expected to enhance the consumption ecosystem in the Dayuyuan area and provide more regional and industry development opportunities for Yuyuan Group [8]