2025年第二季度，北京商业市场迎来中关村ART PARK大融城（西区）、中海大吉巷、京东MALL（南三环店和双井店）等重磅新项目，它们在迅速跃升 成为区域新商业地标的同时，带来多个重磅首店，为北京线下消费市场带来充足的新鲜血液。 与此同时，重点商场、商圈也在积极响应首发经济政策，用首店、首展、首秀等方式，推动北京城市商业繁荣与消费层次提升，助力深化国际消费中心城 市建设，焕新消费模式和商业场景，第二季度首店们的表现尤为突出 。 01. 二季度数量猛增 表现优于前两年 据赢商大数据不完全统计，2025年第二季度，北京共开出80家典型首店，远多于去年同期的48家和前年同期的50家；今年上半年北京共开出129家典型首 店，也比去年上半年的83家、前年上半年78家大幅提升。 今年5月有31家首店开业，为二季度新开首店数量最多的月份，4月和6月份新开首店分别为24家和25家。 其中，从首店级别来看，包括13家全国首店、5家华北首店和62家北京首店，品牌不乏独特性、多样性和话题性，既有数量也有质量。 从业态分布来看，餐饮略胜零售一筹，餐饮业态首店42家，零售业态首店33家，文体娱和生活服务首店各2家。新兴餐饮品牌扩张态 ...

当电商冲击让传统商场沦为"B1层美食街撑场"的尴尬境地，当"消费降级"成为年轻人挂在嘴边的口头 禅，上海的二次元商场却像一匹黑马，杀出了一条血路。 静安大悦城"次元盛典2.0"活动，4天销售额破1000万。 百联ZX创趣场18个月累计客流超1500万人次，销售额直逼5亿。 上海更以15家全国百强二次元商场、80家知名品牌门店的绝对优势，把"谷子经济"（二次元周边消费） 推上了千亿级产业赛道。 这哪是"商场已死"？分明是"二次元当立"。 01 静安大悦城"次元盛典"引爆流量 那么，问题来了：当年轻人举着"痛包"（装饰满动漫徽章的背包）挤爆商场，当"吃谷"（购买二次元周 边）成为新社交货币。 这场狂欢背后，是一场"现充（现实生活充实的人）不够，二次元来凑"的虚假繁荣吗？ 先别急着下结论，看看上海的二次元商场是怎么"破圈"的？ 传统商场的逻辑很简单：货架摆满，品类越全越好，最好能从服装到家电一网打尽。 但现在的年轻人不买账了——"我要的不是购物，是体验、是认同、是圈子。" 于是，百联ZX造趣场祭出了"垂直痛楼"模式：旋转玻璃门换上动漫主角图，扶梯装饰跟着粉丝意见 改，连打卡物料都让粉丝参与设计。南京东路店开业18个 ...

为拉动餐饮消费，今年上半年，上海发放了3.6亿元"乐品上海"餐饮消费券，这批消费券今天到期，不少中签的市民抢搭末班车。 午餐时间，一家商场内的不少餐厅门口都在排队。有顾客表示，抽中了满1000减400的消费券，之前都忘记了，发现今天要过期，赶紧来消费。而餐厅负责 人也感慨，最近一周，使用消费券的顾客明显增多，前几个礼拜每天大概7至8张，最近数量几乎翻番。 看看新闻记者: 何晓 蒋琨 编辑: 周缇 责编: 张蕴昆 有餐厅经理告诉记者，6月到7月，顾客大概使用了200多张消费券，带动了20多万的业绩，占到总业绩的五分之一。 受益的不仅是餐饮业，消费券的核销，还有力地带动了商场客流与销售的增长。上海一家商场的市场部负责人透露，餐饮消费属于目的型消费，顾客可能会 因为一家店铺的餐饮来决定今天一天的整个行程，因此对整个商场的带动效果明显，商场上半年销售额、客流同比提升超20%。 今年下半年，上海将继续使用3.5亿财政资金发放餐饮消费券，券面与上半年保持一致，仍然通过在线报名、摇号中签的方式发放。企业报名从明天开始， 不少新餐厅跃跃欲试。消费者报名时间为7月26日，也就是下周六。 上半年，上海参与餐饮券核销的企业共超过5 ...

记者 吴卫群 太平洋百货徐汇店谢幕，徐家汇商城集团旗下的新六百YOUNG在原址上焕新归来。昨天，新六百 YOUNG项目正式揭晓以"Grow Young Together"（一起年轻成长）为核心理念的商业蓝图，新商厦聚 焦"城市游乐场、共育生活场、都市社交场、年轻运动场"四大板块，构建起以亲子为锚点的家庭关系互 动消费场。 项目计划于明年一季度试营业。 呼应徐家汇商圈全新定位 实体百货何去何从？老牌商圈又如何再塑辉煌？已经出台的《上海市商圈能级提升三年行动方案 （2024—2026年）》明确，徐家汇商圈的定位是持续构建最年轻、最时尚、创新最活跃的商业生态，加 快建设闻名遐迩的世界级地标性消费商圈；提升大徐家汇中央活动区功能，推进高端商务、文化、旅 游、体育、科技功能高水平融合。 新六百YOUNG的焕新归来，正好是对徐家汇商圈全新定位的呼应。记者了解到，项目首批重点合 作品牌涵盖亲子体验、潮流零售、家庭餐饮、美学生活方式等多个赛道。 新六百YOUNG项目整体建筑面积约3.2万平方米，将通过空中连廊与地铁通道打通港汇恒隆、美罗 城等多个商业核心节点，形成"交通+消费+社交"三位一体生活闭环；商场则将采用九层空间梯度 ...

Core Viewpoint - The announcement by Baida Group regarding the leasing of its properties to Hang Lung Properties marks a significant shift in the competitive landscape of the Wulin business district and the broader Hangzhou market [1][2][3] Group 1: Company Developments - Baida Group plans to lease approximately 42,000 square meters of its properties, currently known as Wulin Yintai B and C Halls, to Hang Lung Properties for a term of 20 years starting from April 1, 2028 [1][3] - The annual rent for the leased properties is set at 150 million RMB, with a rental increase of 4.5% every three years [3][4] - This partnership signifies a transition from competition to collaboration between Baida Group and Hang Lung Properties, as both companies aim to enhance their market presence [3][4] Group 2: Market Implications - The leasing agreement is expected to intensify competition in the Wulin business district, especially with the upcoming opening of Hang Lung Plaza, which is projected to have a retail occupancy rate of around 70% [4][6] - The future of Wulin Yintai B and C Halls' tenants remains uncertain as the management agreement with Yintai will expire in February 2028, raising questions about tenant arrangements post-lease [7][8] - The overall commercial landscape in Hangzhou is anticipated to see significant changes, with an estimated 1.28 million square meters of new commercial space expected to open by 2025 [9][10] Group 3: Competitive Landscape - The entry of Hang Lung Plaza, alongside the existing competition from high-end retailers like Hangzhou Tower, indicates a new phase in the luxury retail sector in Hangzhou [5][6] - The collaboration between Baida Group and Hang Lung Properties is seen as a catalyst for further innovations and changes in the commercial sector, as businesses adapt to the evolving market dynamics [9][10] - The competitive environment is characterized by a mix of new openings and closures, with some malls struggling to maintain viability amid increasing competition [9][10]

Core Insights - The number of duty-free shops in Sichuan Province reached 454 by June this year, with over 100 shops offering "buy and refund" services [1] - The new tax refund policy, effective from April 27, aims to enhance the shopping experience for international tourists, leading to increased consumer activity [1] - Chengdu's SKP mall has seen a significant increase in duty-free transactions, processing 1,190 refunds in the first half of the year, a 224% year-on-year growth [1] Group 1 - The Chengdu tax authority has implemented a plan to upgrade and expand the duty-free refund services in line with the city's goal of becoming an international consumption center [2] - The threshold for applying for a tax refund has been lowered from 500 yuan to 200 yuan, making it easier for international tourists to claim refunds [1] - The Chengdu tax department is leveraging the upcoming 12th World Games to promote the expansion and improvement of the duty-free refund services [2] Group 2 - Businesses interested in becoming duty-free shops can apply for registration through a specific form, with the tax authority completing the verification within five working days [2] - The "buy and refund" service is being expanded from pilot programs to a nationwide initiative, with multiple refund points established in key locations [2] - The new refund model aims to enhance the shopping experience for travelers and encourage secondary consumption of the refunded amounts [2]

Core Viewpoint - The company received an inquiry letter from the Shanghai Stock Exchange regarding its 2024 annual report, focusing on the increase in other receivables despite a decline in operating income, and the nature of these receivables [1][2][3] Summary by Relevant Sections Other Receivables - The company's other receivables from 2021 to 2024 showed a significant increase, with balances of 470.95 billion, 579.15 billion, 641.13 billion, and 693.04 billion respectively, primarily due to increased operational transactions with real estate development partners [3][4] - The proportion of receivables over three years old reached 23% of the total other receivables, indicating a growing trend in long-term receivables [1][3] - The increase in other receivables is attributed to the nature of the real estate business, where initial investments in joint ventures often do not yield immediate returns, leading to higher receivables [3][4] Business Model and Transaction Details - The company engages in joint real estate development, resulting in operational receivables that are common in the industry, with specific arrangements for pre-distributing surplus funds to partners before project completion [3][4] - The top ten receivables include various partners, with significant amounts tied to ongoing projects, reflecting the typical cash flow cycle in real estate development [5][6] Financial Position and Debt Management - As of the end of the reporting period, the company held cash and cash equivalents of 958.67 billion, representing 12.48% of total assets, while interest-bearing liabilities amounted to approximately 1,438.43 billion, or 18.73% of total assets [8][9] - The company’s financial expenses increased significantly, primarily due to the consolidation of a subsidiary and changes in the real estate business's interest capitalization rates [12][13] - The company maintains a high level of cash reserves to ensure operational liquidity and project funding, despite borrowing significant amounts of interest-bearing debt [9][10][11] Prepayments - The company's prepayments showed a trend of growth from 2020 to 2023, with a notable decrease in the latest reporting period, attributed to changes in procurement practices and project funding strategies [14][15] - The top five prepayment recipients are primarily government-related entities and large commodity suppliers, with no associated risks identified [15]

Core Insights - A new shopping mall, One Fukuoka Bldg., has opened in Fukuoka, Japan, featuring the largest CHANEL flagship store in the country and introducing many brands to the Kyushu region for the first time [1][20][24]. Group 1: Project Overview - One Fukuoka Bldg. is part of the "Tenjin BIG BANG" redevelopment plan, integrating the former Fukuoka Building, Tenjin CORE, and Tenjin Vivre into a high-rise commercial complex [2]. - The project covers an area of 8,600 square meters with a total floor area of 147,000 square meters, consisting of 19 above-ground floors and 4 underground levels, directly connected to the Tenjin subway station [2]. Group 2: Visitor Experience - Since its opening, the mall has attracted over 80,000 visitors daily, with many praising its artistic atmosphere and attention to detail [4]. - The mall features multiple "Instagrammable" spots, enhancing the shopping experience through a blend of art and culture [8][10]. Group 3: Artistic Integration - The project incorporates 120 pieces of art throughout the space, ensuring that every corner offers something new for visitors to discover [17]. - A "Sky Lobby" on the 6th and 7th floors serves as a multifunctional space, including a café, conference rooms, and exhibition areas, promoting the fusion of commerce and art [18]. Group 4: Retail Highlights - The retail area spans from B2 to L5, with a focus on dining on the lower levels and retail on the upper levels, featuring over 130 stores, including 34 brands making their debut in Kyushu [20]. - The CHANEL store, designed by renowned architect Peter Marino, occupies over 1,160 square meters across three levels, showcasing a wide range of products [22]. Group 5: Unique Store Concepts - The mall emphasizes unique and high-quality brands, with over 60% of the stores being either new concepts or exclusive to the Fukuoka area [20][24]. - Notable stores include a large Tsutaya bookstore with a Starbucks, and a flagship store for Nakagawa Masashichi Shoten, which offers traditional Japanese crafts [25][26]. Group 6: Dining Options - The mall features two major food spaces, "iiTo TENJIN" and "Tenjin Noren Street," offering a variety of local and creative dining options [31][34]. - The "Tenjin Fukushokudo" is designed as a multifunctional dining space, accommodating various activities from dining to socializing [34].

Core Viewpoint - The 2025 Shanghai Night Life Festival will enhance the cultural experience of citizens by extending the opening hours of museums, art galleries, and libraries, thereby promoting night-time cultural activities [1]. Group 1: Shanghai Night Life Festival - The festival will run from June to September 2025, featuring unique summer night consumption scenarios [1]. - Museums and cultural spaces in Shanghai will extend their hours and open night sessions to enrich the night-time cultural life of citizens [1]. Group 2: Museum Night Events - The Shanghai Museum's "Pyramid Peak: Ancient Egyptian Civilization Exhibition" has been very popular, leading to the addition of night sessions starting from July, with a "24-hour open" mode in the last week of the exhibition [4]. - Public cultural spaces like Xujiahui Academy and Heping Academy are also extending their hours into the night, with Heping Academy being the first 24-hour library in Shanghai [6]. Group 3: Broader Cultural Night Activities - Shanghai is actively developing night tours for museums and libraries, providing more options for cultural night life and meeting diverse cultural needs [8]. - In Luoyang, the Ancient Tomb Museum offers night tours, allowing visitors to explore ancient tombs in a unique night setting [8][10]. Group 4: Innovative Cultural Consumption - Various regions are creating new consumption scenarios, such as "Museum + Drama" and "Park + Mall," injecting new vitality into cultural tourism consumption [15]. - In Hangzhou, museums are integrating drama into their spaces, creating immersive experiences for visitors [17]. - "Park-style" malls are emerging in cities, combining natural scenery, commercial facilities, and diverse cultural spaces [19][21].

中国商报（记者 彭婷婷 李沫楠 唐砚 付颢琬 白雅琦 文/图）对于小沫（化名）而言，周末是"自我充电时刻"。在商场的人潮与货架间，她可以暂时卸下"打 工人""KPI"的封印，做回热爱生活的自己。而现在，小沫"充电"的方式更多了。 越来越多的商业空间迎合"小沫们"的消费情绪与体验需求，沉下去挖掘细分目标市场，引领更具人文内涵、时尚文化的价值导向，提供更有温度的体验与服 务。 北京朝阳合生汇聚焦"首店+首发"策略，引入多家设计师品牌与生活方式集合店；海淀大悦城打造"人宠共生"示范性消费场景；"四合院商圈"中海大吉巷混 搭网红店铺、潮流业态出圈……今年以来，北京的商业带着"公园式""文化艺术""宠物友好"等特色标签奔涌而来。 "限时体验" 激活千亿市场 "SEVENTEEN快闪、Rosie快闪我都来了，简直是KPOP（韩国流行音乐）追星人的宝地，感觉自己在看沉浸式艺术展！"小沫兴奋地说。 一杯奶茶逛全天、点个外卖要领券的年轻人，面对"快闪""限时"无数次"上头"。当零售商品被打上"限时"的标签，不仅有了更多的创意和趣味，也有了更高 的溢价空间。《中国快闪店行业白皮书》预计，到2025年，快闪店行业交易规模将超过80 ...