Core Viewpoint - The legal opinion letter from Grandway Law Offices confirms that the differentiated dividend distribution plan of Xinjiang Huijia Times Department Store Co., Ltd. complies with relevant laws and regulations, and it does not harm the interests of the company or its shareholders [1][6]. Group 1: Differentiated Dividend Distribution - The company plans to distribute a cash dividend of 0.05 yuan per share (including tax) to all shareholders based on a total share capital of 465,337,568 shares, resulting in a total cash dividend of approximately 23.27 million yuan [4][5]. - The differentiated dividend distribution is necessitated by the company's share repurchase plan, which prohibits the repurchased shares from participating in profit distribution [4][5]. Group 2: Legal Compliance and Verification - The law firm conducted thorough verification of the facts and documents related to the differentiated dividend distribution, ensuring that all materials are authentic, legal, and complete [2]. - The legal opinion asserts that the differentiated dividend distribution aligns with the Company Law, Securities Law, and relevant regulatory guidelines, confirming its legality and accuracy [2][6]. Group 3: Impact on Stock Price - The impact of the differentiated dividend on the stock's ex-dividend reference price is minimal, estimated to be less than 1% [6]. - The calculation of the ex-dividend reference price considers the cash dividend and the company's total share capital, indicating a slight adjustment due to the dividend distribution [5][6].

Core Viewpoint - The Lanzhou Xidan Shopping Mall, a significant retail project in Lanzhou for 22 years, will officially close on July 31, 2025, due to the expiration of its lease, reflecting broader challenges in the commercial real estate sector in Lanzhou [2][4][6]. Company Summary - Lanzhou Xidan Shopping Mall opened in 2003 with a total operating area of approximately 45,000 square meters, offering a variety of functions including department stores, supermarkets, and children's entertainment [6][7]. - The mall aimed to establish itself as a fashionable department store by promoting international brands and creating a diverse shopping experience [6]. Industry Summary - The mall was located in a prime area of the Xiguan business district, benefiting from high foot traffic, especially after the opening of the subway line in 2019, which enhanced accessibility [7]. - At its peak, the mall recorded an average daily foot traffic of over 50,000 visitors and a single-day sales record exceeding 4 million yuan [7]. - The competitive landscape in the Xiguan business district includes high-end retailers and popular shopping streets, which has intensified competition for traditional department stores like Lanzhou Xidan [7][8]. - Traditional retail in Lanzhou is facing significant challenges due to urban expansion and changing consumer preferences, leading to a decline in competitiveness for older shopping centers [8][9]. - The future of Lanzhou's commercial landscape is expected to shift towards integrated shopping experiences that combine retail, social interaction, and cultural engagement, moving away from traditional department store models [9].

Core Viewpoint - The Guangbai Department Store in the Dongshankou business district of Guangzhou has reportedly withdrawn from its location, with signs and decorations being removed, and the site is set to undergo a transformation into "Dongshan Future" [2][4][10]. Group 1: Store Closure and Transformation - The Guangbai Department Store's signage has been completely removed from the building's exterior [4]. - Inside the building, several retail and dining establishments have ceased operations, with some stores still in the process of clearing out their inventory [5]. - The project will be upgraded to "Dongshan Future," aiming to enhance the commercial experience by creating a one-stop lifestyle landmark that includes shopping, dining, and entertainment [10][16]. Group 2: Impact on Surrounding Businesses - Some businesses within the building, such as a restaurant specializing in Peking duck, have closed their dine-in services due to Guangbai's withdrawal, although they continue to operate a takeaway window [5]. - The majority of operational stores are located on the second and third floors, while the fifth floor, which primarily sold electronics, is largely empty [5][10]. - The closure of Guangbai marks a significant change in the Dongshankou business district, which has seen two major department stores cease operations in the past four years, leaving only one remaining [16][17]. Group 3: Lease and Business Dynamics - Guangbai's withdrawal occurred before the expiration of its lease, which was signed for a total area of approximately 36,000 square meters at a rental price of 54.7 million RMB [17]. - The property is now under the management of the owner, Ou Hai Real Estate, which is in discussions with existing merchants about new lease agreements [16][17].

Core Insights - The launch of the first "immediate refund" tax refund point in Shenzhen's Dongmen pedestrian street marks the official rollout of the departure tax refund service in the area [1][4] Group 1: Business Development - Dongmen pedestrian street, as Shenzhen's oldest and most mature commercial district, has a historical peak daily foot traffic exceeding 1 million, making it a must-visit for both domestic and international tourists [4] - The Sun Plaza, which has been in the Dongmen area since 1999, has become a comprehensive commercial entity integrating snacks, dining, and experiential services, and is a key player in the development of the international consumption center in Luohu District [4] - The Sun Plaza currently hosts 66 merchants offering immediate tax refund services across various sectors, including luxury watches, fashion apparel, and skincare products [4] Group 2: Consumer Experience - The new tax refund model allows customers to receive their refunds immediately at the point of purchase, significantly reducing the time spent on tax refund processes to just a few minutes [5] - The manager of Sun Plaza expressed the intention to continuously optimize service processes and enhance staff training to establish the mall as a benchmark for departure tax refund shopping in Luohu and Shenzhen [5] - Luohu District, with three entry ports and a dense population of shoppers, is well-positioned to develop departure tax refund shopping services, including the launch of dedicated bus routes to transport travelers to major shopping areas [5]

Group 1 - The first "immediate buy and refund" tax refund point for outbound tourists has been officially launched at Dongmen Suning Department Store, enhancing the shopping experience for international travelers [1][3] - The new tax refund service allows travelers to process refunds on-site after shopping, significantly reducing the time required for refund procedures to just a few minutes [1] - Currently, there are 66 merchants in Dongmen Suning Department Store participating in the immediate tax refund program, covering luxury watches, fashion apparel, and skincare products [1] Group 2 - The Luo Hu District is leveraging its advantageous position as a commercial and consumption hub to develop a robust outbound tax refund shopping network [2] - The district is enhancing traveler services by introducing multiple shuttle bus routes and plans for autonomous bus lines to improve access to major shopping areas [2] - Digital upgrades are being implemented to enrich electronic refund channels, aiming to provide a better shopping experience for travelers [2]

Core Viewpoint - The expansion of China's visa-free policy to include countries in Latin America and the Caribbean has led to a significant increase in inbound tourism and consumer spending, with the number of countries benefiting from this policy reaching 47 as of June 1 [1] Group 1: Inbound Tourism Growth - The Shanghai Yilong Hotel reported that over 85% of its bookings in April were from inbound tourists, indicating a surge in international visitors [1] - The hotel has adapted its services to meet the needs of foreign guests, including bilingual signage and enhanced English training for staff [2] - The trend of inbound tourists engaging in online shopping before arrival has increased, with one European guest arranging for over 100 packages to be delivered to the hotel [3] Group 2: Cultural and Service Enhancements - The Sanxingdui Museum has seen a rise in foreign visitors, attributed to its unique cultural offerings and improved service, including English-language ticketing and guided tours [4] - The museum has introduced over 300 new cultural products, enhancing the shopping experience for tourists [5] - The Beijing Wangfujing Department Store reported a 257% increase in tax refund applications in the first five months of the year compared to the previous year, reflecting a growing interest in shopping among foreign tourists [6][9] Group 3: Economic Impact and Future Prospects - The overall increase in inbound tourism is expected to drive a 10% annual growth in overnight visitors in the Yangtze River Delta region from 2025 to 2027 [3] - The implementation of new tax refund policies and the establishment of convenient refund points in major shopping areas aim to further enhance the shopping experience for international visitors [9]

Core Points - The launch of the first "immediate refund" tax refund point in the Dongmen area marks a significant step in promoting the international consumption center in Luohu District, Shenzhen [1][2] - Dongmen pedestrian street is a key commercial area in Shenzhen, attracting a large number of domestic and international tourists, particularly from Hong Kong [2] Group 1 - The "immediate refund" tax refund point at Dongmen Sun Plaza is the first of its kind in the area, enhancing the shopping experience for travelers [1] - The establishment of this tax refund point aligns with the development of five distinctive consumer districts in Luohu, contributing to the goal of creating a world-class landmark business district [1][2] - Dongmen Sun Plaza has a historical significance, having opened in 1999 and being a pioneer in the "department store + plaza" marketing model [1] Group 2 - The national push for tax refund shopping is particularly beneficial for Shenzhen, which serves as a major gateway for international travelers [2] - Luohu District's strategic location with three entry ports and a dense commercial environment provides a strong foundation for the development of tax refund shopping [2] - The district is enhancing its services by establishing additional tax refund points and introducing autonomous bus lines to facilitate travel for tourists from the ports to major shopping areas [2]

据中新网报道，中国财政部等部门16日公布，自7月1日起，大连市、湖北省实施境外旅客购物离境退税 政策。 公司方面，大连友谊、武商集团分别为大连、湖北本地零售股。 *免责声明：文章内容仅供参考，不构成投资建议 *风险提示：股市有风险，入市需谨慎 江海证券认为，此前免税店针对的顾客包括国内消费者和国外旅游者，免税店主要以进口商品为主，国 产商品进入免税店比重较小，部分免税店销售国有商品其实是有税商品，且品类有限。此次即买即退政 策后，预计免税店会引入更多的国产商品，退税流程也将更加便捷。 此外，利好国内的商贸零售行业，特别是百货公司，百货公司可申请增加退税和"即买即退"业务，境外 旅客退税便利度提升。 社会服务方面，万联证券认为，"即买即退"服务措施全面推广，后续一系列政策推出有效提升我国国际 旅游吸引力，预计国际客流量将迎来较大增长，利好从事跨境业务的旅行社。 此外据南方财经网报道，目前，四川全省"即买即退"离境退税商店较新政策实施前的49家扩展至84家， 退税服务网络进一步扩大。 4月底，国家税务总局等六部门4月27日联合发布通知，离境退税起退点从500元下调至200元，并在转账 退税已明确不设上限的基础上， ...

转自：北京日报客户端 "以前这里确实比较乱。"家住附近的王女士表示，银泰百货里边有大量餐饮商家，是附近居民购物的重 要去处。每到用餐高峰，外卖骑手也纷纷前来取餐，部分骑手为赶时间随意停车，不仅堵塞通道影响环 境，也存在安全隐患。"商场东边的通道本来就比较窄，推婴儿车经过时都得格外小心。"王女士说。 针对居民反映的问题，西马场北里社区深入调研，发现乱象根源在于高峰期停放空间不足以及规范停车 点设置对骑手存在不便。"规范停放区距离取餐点过远，有时赶不上时间，只好临时停在商场门口。"一 位外卖员表示。为了根治难题，社区牵头，联合银泰商场及交管部门开展"三方会诊"。通过召开4场座 谈会，收集居民、商户及骑手代表意见30余条后，最终决定在商场东侧绿化带旁开辟专属外卖停车区。 社区还安排专人在高峰时段定点疏导。一系列举措实施后，乱停乱放现象大幅减少。 "以前拿餐经常找车位得绕好几圈，现在停完车几步路就能进商场取餐，安全又方便！"看着新划定的外 卖专用停车位，外卖员小朱高兴地说。商场附近的居民也给社区工作人员竖起大拇指，感谢他们的高效 工作。 外卖骑手有了专属停车区 来源：北京日报客户端 外卖高峰时段，银泰百货大红门店东侧 ...

Group 1: Japan-China Economic Relations - Guangdong Province and CITIC Group hosted a significant event titled "Japanese Enterprises Guangdong Tour," attended by key officials, emphasizing investment opportunities in new sectors like robotics and AI [3] - The event facilitated specialized meetings across five industries, resulting in 68 projects, with 27 signed on-site, totaling 1,034.64 million RMB [3] - Guangdong is a major hub for Japanese investment, with 3,155 Japanese enterprises established since the reform era, totaling 17 billion USD in actual investment [3] Group 2: Foreign Investment Trends - Foreign investment in China has been declining, making cooperation with Japan and the EU increasingly vital for Guangdong [4] - From January to April, Guangdong's actual foreign investment grew by 8.9%, with Japanese investment increasing by over 40% [4] - Guangdong's strategy to attract Japanese investment is seen as a crucial approach to mitigate economic challenges [4] Group 3: Panasonic's Challenges and Strategies - Panasonic's revenue in China declined by 0.95%, with its market share in core categories like air conditioning dropping below 1% [5] - The company plans to innovate by launching a "Living Space" strategy targeting the second-hand housing renovation market, aiming for a threefold increase in business scale by 2025 [5] - The renovation market presents significant opportunities despite challenges in adapting Japanese aesthetics to practical Chinese needs [5] Group 4: Retail Sector Dynamics - The Chinese department store industry is facing a wave of closures, yet the Shanghai Takashimaya department store is investing 100 million RMB for transformation [6] - Takashimaya has adapted to the Chinese market by balancing Japanese commercial characteristics with local preferences, achieving notable success [6][7] - The store has become the first in Changning District to implement an "immediate refund" tax policy, significantly increasing its refund amounts [7] Group 5: Komatsu's Market Position - Komatsu forecasts a 27% profit decline this fiscal year, attributing part of this to competition from Chinese firms offering lower prices and excess capacity [7][8] - The company acknowledges its strengths in durability and reliability but faces challenges from Chinese manufacturers who provide competitive performance at lower costs [8] - The US-China trade dispute has added an estimated 20 billion JPY (approximately 140 million USD) in tariff burdens for Komatsu [8]