中国国贸独立董事 2024 年度述职报告 中国国际贸易中心股份有限公司 独立董事2024年度述职报告 致股东： 年度内，本人严格按照《公司法》《上市公司治理准则》《上市公司独立董事管 理办法》《上海证券交易所股票上市规则》等有关法律法规和公司章程的规定，积极 履行职责，恪尽职守，认真审议公司董事会各项议案，从客观、公正立场出发，作出 独立判断。现将2024年度的履职情况报告如下： 一、独立董事的基本情况 作为公司的独立董事，本人拥有专业资质及能力，在从事的专业领域积累了丰富 的经验，不存在影响独立性的情况。 本人简历：香港会计师公会会员，毕业于香港理工学院（现为香港理工大学）， 同年加入安永会计师事务所工作，1994年成为合伙人，2020年6月退休。1994年至 的企业重组及上市经验，现担任东风汽车集团股份有限公司（于香港上市之公司）、 Ding Dong（Cayman） Limited"叮咚买菜"（于纽约上市之公司）、上海化学工业区 工业气体有限公司及浙江网商银行股份有限公司之独立非执行董事；本公司第九届董 事会独立董事、审计委员会委员、薪酬委员会委员。 报告期内，本人认真审阅了公司年度内部审计工作计划，督 ...

Core Viewpoint - The Hua'an Bailian Consumption REIT has demonstrated strong financial performance and growth potential, driven by innovative retail strategies and a focus on high-quality development in the consumer infrastructure sector [1][5]. Financial Performance - From July 11, 2024, to December 31, 2024, the Hua'an Bailian Consumption REIT achieved total revenue of 103 million yuan, with an EBITDA of 6.025 million yuan and a distributable amount of 63.2085 million yuan, reflecting a completion rate of approximately 101% compared to the forecast in the prospectus [1]. - The annualized cash distribution rate for 2024 reached 5.59%, based on the fund's market value at the end of 2024 [1]. - The fund announced a second dividend for 2024, amounting to 33.55 million yuan, with a distribution of 0.3355 yuan per 10 fund shares [1]. Market Position and Strategy - The Hua'an Bailian Consumption REIT is positioned as a bridge connecting the real economy with capital markets, supported by national policy direction and market demand [2]. - The underlying asset, Shanghai Youyi City, is located in a prime shopping area and has shown steady operational performance, achieving a revenue of 94.7092 million yuan during the reporting period, with an occupancy rate of 95.56% and a 100% collection rate for leasing [2]. Innovation and Consumer Engagement - Over the past year, Shanghai Youyi City has actively engaged in the "first economy" initiative, introducing new formats such as the first M-ONE KTV in Shanghai and the first Hulk Ice Sports Center, enhancing the vibrancy of the shopping area [3]. - The project targets high-quality family customers and has developed three distinctive areas: family-friendly, sports and esports, and cultural arts, fostering diverse consumer experiences [3]. Sustainability Initiatives - In line with the "dual carbon" goals, Shanghai Youyi City has integrated green and low-carbon concepts into its commercial operations, earning the title of "National Green Mall" in 2024 [4]. - The project has initiated various community engagement activities, such as the "Yangpu Intangible Cultural Heritage into Bailian" series and sustainable exchange exhibitions, reflecting its commitment to social responsibility [4]. Industry Insights - Industry experts highlight that the Hua'an Bailian Consumption REIT focuses on retail innovation as a core driver, leveraging Bailian Group's brand strength and operational experience to adapt to new consumer market trends [5]. - Shanghai Youyi City aims to enhance its competitive advantage through differentiated consumer experiences and innovative consumption spaces, contributing to the high-quality transformation of the economy [5].

Group 1 - BlackRock sold the Shanghai Zhonggang Huida Building for 900 million RMB, a 30% discount from its 1.4 billion RMB purchase price in 2017, indicating a significant loss of 500 million RMB [2][3] - The building, once a core asset for BlackRock, has a total area of 27,000 square meters and was seen as a symbol of confidence in the Shanghai market [3] - BlackRock's sale reflects a broader structural dilemma in the Shanghai office market, where rental yields are insufficient to cover loan interest, leading to a strategic retreat [4][5] Group 2 - The average vacancy rate in Shanghai's office market has risen to 23.5%, with some areas exceeding 35%, indicating a significant oversupply of office space [5][7] - Rental rates in core business districts have halved since their peak in 2017, dropping from 7-9 RMB per square meter per day to 3.2-5.8 RMB, making it difficult for property owners to avoid losses [5][6] - The supply of new office space has outpaced demand, with 1.18 million square meters of new supply in 2023 against only 930,000 square meters of new leases, extending the market absorption period to 42 months [7] Group 3 - The shift in office space demand is attributed to the rise of remote work and a preference for flexible, smaller office spaces, as companies redefine their office needs post-pandemic [6] - BlackRock's decision to sell at a loss is part of a larger trend where international capital is reassessing its investment strategies in emerging markets, particularly in light of rising interest rates and tightening global liquidity [12][15] - Domestic capital is seizing the opportunity to acquire quality assets at lower prices as foreign investors retreat, indicating a potential shift in the investment landscape [13][17] Group 4 - The contrasting strategies of BlackRock and Li Ka-shing highlight differing approaches to market uncertainty, with BlackRock opting for rapid divestment while Li maintains his port assets [9][10] - The political implications of these transactions are significant, as Li's actions have drawn criticism for excluding domestic firms, while BlackRock's decisions are viewed through a purely commercial lens [10][11] - The ongoing adjustments in the commercial real estate sector are seen as a necessary correction, paving the way for a new cycle of growth and opportunity for domestic investors [17][18]

又有万达广场被卖。 据天眼查，近日，徐州万达广场有限公司发生工商变更，大连万达商业管理集团股份有限公司退出股东，新增广东横琴粤澳深度合作区宽和商业管理有限 公司为全资股东，同时法定代表人等发生变更。 信息显示，广东横琴粤澳深度合作区宽和商业管理有限公司认缴出资额为5000万元，认缴出资日期为2025年3月24日。 据了解，徐州万达广场有限公司成立于2011年，经营范围包含：企业管理服务；房屋出租；物业管理。 今年以来，大连万达集团新增多条股权冻结信息、被执行人信息。 股权冻结方面，除前述北京万达文化产业集团外，2月，大连万达集团持有的大连万达商业管理集团19.79亿元股权被北京市海淀区人民法院冻结，持有的 万达文化产业有限公司1亿元股权被横琴粤澳深度合作区人民法院冻结。 被执行人信息方面，2月25日，大连万达集团被上海金融法院执行超4775万元；2月24日，被甘肃矿区人民法院执行17.1亿元；2月20日，被北京市第二中级 人民法院执行17.2亿元。 来源：证券时报综合自天眼查、e公司等 【 热门视频推荐 】 值得一提的是，为缓解债务压力，万达集团近两年已先后出售多个万达广场，新华保险、阳光保险、大家人寿等险资 ...

Core Viewpoint - The freezing of Wang Jianlin's 8 billion yuan equity has raised significant concerns about the future of Wanda Group, as the company faces mounting debt and operational challenges [1][3][12] Group 1: Equity Freezing and Financial Impact - Wang Jianlin's 8 billion yuan equity in Beijing Wanda Cultural Industry Group has been completely frozen by the Zhengzhou Intermediate People's Court from March 18, 2025, to March 17, 2028, restricting Wanda Group's ability to manage this equity freely [3] - This is not the first instance of equity freezing for Wanda Group, as multiple freezing incidents have occurred this year, indicating a severe financial strain [3] - To alleviate debt pressure, Wanda Group is accelerating the sale of high-quality assets, including several Wanda Plaza projects, and is actively seeking strategic investors to inject external funds [3][8] Group 2: Wang Sicong's Situation - Wang Sicong, son of Wang Jianlin, has chosen to live in Japan since early this year, raising questions about his intentions and responsibilities towards the family business [5] - His lifestyle in Japan, shared on social media, contrasts with the family's current challenges, leading to speculation that he may be avoiding issues rather than confronting them [5] Group 3: Strategic Adjustments and Future Directions - In response to the equity freeze and debt challenges, the Wang family is expediting asset sales to raise funds, including selling part of Wanda Plaza equity to insurance institutions [8] - Wanda Group is focusing on cost control and resource optimization while exploring new business areas such as film, culture, and tourism to diversify and reduce operational risks [8] - The relationship between Wang Jianlin and Wang Sicong is under scrutiny, with both recognizing the need to navigate the current crisis together, although Wang Jianlin is preoccupied with the company's challenges [10][12]

Investment Rating - The report does not explicitly provide an investment rating for the commercial property market in Shanghai Core Insights - The new supply of commercial properties in Shanghai has significantly decreased, with a total area of approximately 149,600 square meters in January, representing a month-on-month decline of 35% [2] - The total transaction area for commercial properties slightly increased to 136,600 square meters, with a month-on-month growth of 4% [3] - The transaction volume for office properties saw a substantial rise, with a total area of 66,200 square meters, marking a month-on-month increase of 105% [5] Summary by Sections Supply Overview - In January, the new supply of commercial properties was concentrated in six administrative districts, with the majority located in Pudong New District, Minhang District, and Jinshan District [2] - The total supply of commercial properties has been on a downward trend for two consecutive months, with a significant drop of 45% in office property supply [2] Transaction Activity - The transaction area for commercial properties decreased to 70,400 square meters, a month-on-month decline of 29%, while the number of transactions fell by 49% [4][5] - Office properties experienced a notable increase in transaction volume, with 284 transactions recorded, a rise of 238% [5] Market Distribution - The commercial property transactions were primarily distributed across 15 administrative districts, with Jiading District and Minhang District performing well, accounting for 67% of the total commercial property transaction volume [6] - In the office property sector, Minhang District and Qingpu District also showed strong performance, each exceeding 20,000 square meters in transaction volume [7] Notable Projects - The "Hai Zhi Zhou" project in Qingpu District was the top-performing office project in January, with 43 units sold and a total area of approximately 19,785 square meters [10] - The "Anting New Town Yuyuan" project in Jiading District led the commercial property market with a total area of 22,699 square meters sold [11] Secondary Market Performance - The secondary office market saw a decrease in transaction volume, down 33% to 51,000 square meters, but remained at historically high levels [12] - The secondary commercial market experienced a significant drop, with transaction volume falling to 29,000 square meters, a decrease of 38% [17] Regional Performance - The outer districts continued to show stronger performance in the secondary commercial market, with Qingpu District leading with a transaction area of 5,619 square meters, up 17% [18] - In the central districts, only Putuo District saw an increase in transaction volume, rising by 426% to 1,099 square meters [19]

以下文章来源于镜相工作室 ，作者镜相作者 镜相工作室 . 商业世界的风向与人 （ID：shangyejingxiang） 进入商业地产行业1 4年，蒋昱松在今年秋天选择暂时离开了这个行业，开起了艺术中 心。 2 0 10年大学毕业后，蒋昱松进入长三角某城市当地一家老牌百货公司做管培生，后来先 后在两家港企、两家国企任职，做过早期的拿地、策划，也负责过前端招商、后端营运 调改，积累了一个商业体从0到1的经验，最终做到了项目总经理。 他也经历了疫情之后购物中心的冷清和复苏，随着客流量的下降，在生存压力下，商场 的经营逻辑也在转变——传统的商场不再受欢迎，更细分、更下沉、体验性业态更丰富 的商场受到欢迎。十年前最强势的星巴克，如今成了商场想要"清走"的品牌；二次元、 谷子店成了不少老商场的救命稻草…… 蒋昱松觉得，商业是一个常常需要更新的行业，而许多商场的问题在于没有跟上消费趋 势的变化。我们和他聊了聊这几年商场的一些新现象，比如年轻人扎堆B1、B2，餐饮业 态占比变高，一些品牌店陆续退场，以及这背后隐藏的消费趋势。 以下是镜相工作室与蒋昱松的对话： 不更新，就会被淘汰 镜相工作室：大概是什么时候开始，大家觉得"商 ...

Hysan Development Company (00014) H1 2024 Earnings Call August 23, 2024 05:00 AM ET Speaker0 Good afternoon. Thank you all for coming to HySun Development's twenty twenty four Interim Results Announcement Analyst Briefing Session. Let me introduce our panel for this afternoon. Our Chairman, Ms. Irene Li our Executive Director and COO, Mr. Rekhi Loy our CFO, Mr. Andy Choi. We will start with the presentation from Irene, Ricky and Andy, and we will follow that to take questions. Now I would invite Irene to st ...

黄峥成中国首富 黄峥成中国首富 太古、恒隆地产利润下滑 万亿公募董事长被查 中芯国际利润率超预期增长 豪华电动车设计陷入两难 中国家庭去杠杆 关注《晚点财经》并设为星标，第一时间获取每日商业精华。 据彭博亿万富翁指数，拼多多创始人黄峥最新财富已经达到 486 亿美元，超过农夫山泉创始人钟睒睒 （474 亿美元），成为中国首富。 拼多多的公司价值低于腾讯、字节，（目前）也略低于阿里，但黄峥在拼多多上市前出让给投资方和 团队的股份比例低于其他大公司，至今仍持有拼多多 25% 的股份，远高于马化腾（7.4%）、马云 （3.9%）和王兴（9.6%）。黄峥的净资产巅峰是 2021 年 2 月时的 715 亿美元，一个月后，他卸任拼 多多董事长，转而研究食品科学和生命科学。今年年初以来，拼多多股价跌了约 5.7%，黄峥的个人 财富少了近 30 亿美元。 钟睒睒拥有农夫山泉 84.5% 的股份，并直接和间接持有上市药企万泰生物 73% 的股份。他的净资产 巅峰同样是在 2021 年 2 月，最多时有 974 亿美元，而且他从当年 4 月开始就一直是中国首富。自年 初以来，农夫山泉和万泰生物股价跌幅分别为 34.7% 和 9 ...