Group 1 - The overall consumption market in China is stable, with a retail sales total of 3.88 trillion yuan in July, representing a year-on-year growth of 3.7%, which is 1 percentage point higher than the same period last year [1] - From January to July, the total retail sales of consumer goods reached 28.42 trillion yuan, with a year-on-year growth of 4.8%, and service retail sales increased by 5.2% [1] - The retail sales of goods showed steady growth, with a 4.0% year-on-year increase in July, and a 4.9% increase from January to July [1] Group 2 - The consumption of upgraded goods is maintaining rapid growth, with significant year-on-year increases in retail sales of home appliances (28.7%), furniture (20.6%), communication equipment (14.9%), and cultural office supplies (13.8%) in July [1] - The retail volume of passenger cars increased by 6.3% in July, with new energy vehicles growing by 12.0%, achieving a penetration rate of 54% [1] Group 3 - The summer consumption season has shown vibrant highlights, with double-digit growth in retail sales for cultural, sports, leisure services, and travel consulting services from January to July [2] - The popularity of summer vacation destinations surged, with a significant increase in searches for "summer vacation spots" [2] - The film market performed well, with box office earnings surpassing 10 billion yuan during the summer season, and many domestic films achieving both critical and commercial success [2] Group 4 - Online retail sales grew by 9.2% year-on-year from January to July, with physical goods online retail sales increasing by 6.3%, outpacing the overall retail sales growth by 1.5 percentage points [2] - Physical retail enterprises are actively adapting to new consumption trends by optimizing product and service offerings and innovating diverse consumption scenarios [2] - Retail sales in physical stores increased by 4.2% year-on-year from January to July, with warehouse membership stores growing at over 30% and shopping centers increasing by 6.4% [2]

Market Overview - The Hong Kong stock market saw a significant rise, with the Hang Seng Index increasing by 0.93% to close at 25,339.14 points, and the Hang Seng Technology Index rising by nearly 3% [1] - The overall trading volume for the day was HKD 285.58 billion, with the Hang Seng Index gaining 0.27% over the week [1] Blue Chip Performance - Semiconductor company SMIC (00981) led the blue-chip stocks, surging by 10.06% to HKD 56.9, contributing 36.87 points to the Hang Seng Index [2] - Other notable performers included Li Ning (02331) up 8.78% and BYD Electronics (00285) up 6.13% [2] Sector Highlights - The technology sector saw a collective rise, with major stocks like Kuaishou and Alibaba increasing by over 4% and nearly 2%, respectively [3] - Chip stocks experienced a significant boost, with Huahong Semiconductor rising by 17.85% and ZTE Corporation increasing by 15.13% [3] Earnings Reports - Miniso (09896) reported a 23.1% year-on-year revenue increase to HKD 4.97 billion, with a net profit growth of 10.6% to HKD 690 million [6] - Kuaishou's revenue grew by 13.1% year-on-year to HKD 35 billion, with adjusted net profit increasing by 20.1% [6] Notable Stock Movements - XPeng Motors (09868) saw a strong performance, rising 13.6% after its CEO purchased shares worth approximately HKD 250 million [7] - NIO (09866) also climbed 11.12% following the announcement of its new ES8 model, which is set to launch in September 2025 [8] Industry Trends - The aviation sector faced declines, with China Southern Airlines (01055) dropping 1.77% amid concerns over demand despite a seasonal increase in capacity [5] - The domestic airline industry reported a 2.3% year-on-year increase in capacity for July, but the growth rate was considered low [5]

Core Viewpoint - On August 22, the A-share market saw a total of 81 stocks hitting the daily limit up, indicating strong market activity and investor interest in specific sectors [1] Group 1: Stock Performance - Kosen Technology led with 6 consecutive limit-up days in the consumer electronics sector [1] - Yuanlin Co. achieved 5 consecutive limit-up days, focusing on cloud computing and landscaping [1] - Yuyin Co. recorded 4 consecutive limit-up days in the fintech sector [1] Group 2: Other Notable Stocks - ST Dongshi, Shimao Energy, and ST Zhongdi each had 4 consecutive limit-up days, with focuses on driving training, photovoltaic, and real estate respectively [1] - Chengfei Integration, Huijia Times, and Zhongyou Capital had 3 consecutive limit-up days, involved in sectors such as aerospace, retail, and cross-border payments [1] - Tianrongxin, Daon Co., and *ST Suwu each had 2 consecutive limit-up days, focusing on cloud computing, PEEK materials, and innovative pharmaceuticals respectively [1]

港股三大指数午后持续走高，市场情绪高涨，本周呈现先抑后扬行情。恒生科技指数大幅上涨2.71%涨幅一马当先，恒生指数、国企指数分别上 涨0.93%及1.17%，高涨重回9000点关口。本周，恒指累涨027%，国指累涨0.45%，恒生科技指数累涨1.89%。 | 代码 | 名称 | | 最新价 | 涨跌额 | 涨跌幅 | 5日涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | | 800000 | 恒生指数 | 0 | 25339.14 | +234.53 | 0.93% | 0.27% | | 800100 | 国企指数 | | 9079.93 | +105.16 | 1.17% | 0.45% | | 800700 | 恒生科技指数 | | 5647.68 | +149.18 | 2.71% | 1.89% | 盘面上，作为市场风向标的大型科技股午后集体拉升转涨；两则消息引爆半导体芯片股，华虹半导体大涨近18%表现最佳，中芯国际劲升10%； 军工股、机器人概念股、汽车股、稳定币概念股、餐饮股、纸业股纷纷上涨。另一方面，行业旺季客座率环比略降，反内卷助力航司收益水 ...

Group 1: Overall Consumption Market Performance - In July, China's retail sales of consumer goods reached 3.88 trillion yuan, with a year-on-year growth of 3.7%, which is 1 percentage point higher than the same period last year [1] - From January to July, the total retail sales of consumer goods amounted to 28.42 trillion yuan, showing a year-on-year increase of 4.8% [1] Group 2: Product Consumption Trends - In July, the retail sales of goods grew by 4.0% year-on-year, with retail sales from above-designated size units increasing by 3.1% [2] - The "old-for-new" consumption policy has positively impacted sales, with retail sales of home appliances, furniture, communication equipment, and cultural office supplies increasing by 28.7%, 20.6%, 14.9%, and 13.8% respectively [2] - Passenger car retail sales increased by 6.3% year-on-year in July, with new energy vehicle sales growing by 12.0%, achieving a penetration rate of 54% [2] - Retail sales of upgraded products such as sports and entertainment goods and gold and silver jewelry rose by 13.7% and 8.2% year-on-year respectively [2] Group 3: Service Consumption Highlights - From January to July, service retail sales in categories such as cultural and recreational services, tourism consulting and leasing services, and transportation services maintained double-digit growth [3] - There was a significant increase in interest for summer vacation destinations, with search popularity for "summer cooling spots" rising sharply [3] - Museum bookings saw a year-on-year growth of over 200% [3] Group 4: Film and Entertainment Sector - The film market showed strong performance, with the summer box office surpassing 10 billion yuan, and several domestic films achieving both critical and commercial success [4] Group 5: Inbound Consumption Growth - The term "China Shopping" gained popularity due to optimized tax refund policies for outbound tourists and the expansion of visa-free countries, leading to a significant increase in inbound consumption [5] Group 6: Online and Offline Retail Dynamics - From January to July, online retail sales grew by 9.2% year-on-year, with physical goods online retail sales increasing by 6.3%, outpacing the overall retail sales growth by 1.5 percentage points [6] - Physical retail enterprises are adapting to new consumption trends by optimizing product and service offerings and innovating diverse consumption scenarios [6] - Retail sales from above-designated size physical stores increased by 4.2% year-on-year, with warehouse membership stores seeing growth rates exceeding 30% and shopping centers growing by 6.4% [6]

Core Insights - The article highlights the revitalization of Shanghai's commercial districts due to ongoing consumption expansion policies, with significant growth in retail sales and foot traffic in key areas like Yuyuan Mall [1][3]. Group 1: Consumption Growth - In June, Shanghai's retail sales reached 138.83 billion yuan, a year-on-year increase of 3.7% [3]. - From January to June, retail sales totaled 826.04 billion yuan, up 1.7% year-on-year, with a growth rate improvement of 0.3 percentage points compared to the first five months [3]. - Key monitored commercial districts saw retail sales increase by 2.7% year-on-year, with 19 districts exceeding 10% growth, and Yuyuan, Expo, and Zhenru districts leading in growth rates [3]. Group 2: Yuyuan Mall Developments - Yuyuan Mall's president stated that the area attracts 55 million visitors annually, with an average daily foot traffic of 130,000, peaking at 240,000 during holidays [3][4]. - The mall aims to enhance its appeal to various demographics, particularly young cultural enthusiasts, and plans to implement the "Big Yuyuan" concept to attract over 100 million visitors by 2033 [3][5]. Group 3: Night Economy and Events - The newly renovated Hefeng Building will become a food landmark, extending operating hours to midnight and linking with nearby snack streets to boost nighttime consumption [4]. - Yuyuan Mall plans to utilize high-rise spaces for creative events and social gatherings, enhancing the overall consumer experience [5]. Group 4: Government Initiatives - The Shanghai Municipal Commerce Commission aims to improve the contribution of commercial districts to consumption, attract more domestic and international visitors, and convert foot traffic into sales [6][7]. - Future plans include developing innovative consumption experiences through digital applications and enhancing the overall shopping environment to improve the city's image [7][8].

Core Points - The financial management system of Fujian Dongbai Group Co., Ltd. aims to enhance financial management, standardize internal controls, and improve the quality of financial information [1][2] - The system applies to the company and all subsidiaries within the consolidated financial statements [1] - The basic principles of financial management include unified management, hierarchical responsibility, authorization and approval management, separation of duties, and internal supervision [1][2] Financial Management System - The president is fully responsible for daily financial management and reports to the board of directors [3] - The company has a financial director appointed by the board, responsible for overall financial activities [3] - The financial center of the group implements financial management across the enterprise, with subsidiary financial personnel under its unified leadership [3] Accounting Basis and Norms - The company follows national accounting standards and develops accounting policies accordingly [4] - Accounting policies must remain consistent across accounting periods unless changes are required by law or for improved reliability [4] - All accounting records must be based on actual economic transactions, and no false information is allowed [4][5] Fund Management - The company implements centralized fund management and budget control to meet financial needs while minimizing costs [6] - All fund payments require appropriate authorization based on the nature of the payment [6] - A responsibility system is established for monetary fund operations to ensure separation of duties and supervision [6] Budget Management - The company practices comprehensive budget management, including operational, investment, and financing budgets [7] - The budget is prepared based on strategic requirements and is subject to regular monitoring and reporting [7][8] - Adjustments to the budget are made only under significant changes in market conditions or operational needs [8] Investment Management - Investment management includes both internal and external investments, with a dedicated investment decision-making committee [9] - The company must maintain proper accounting for investments and ensure compliance with internal management procedures [9] Asset Management - The company manages various assets, including receivables, inventory, fixed assets, and intangible assets [10][11] - Regular assessments and audits of assets are conducted to ensure their safety and value [10][11] Liability Management - Liabilities are categorized into current and non-current, with specific management practices for each type [40] - The company maintains detailed records of accounts payable and contract liabilities [41] Owner's Equity and Profit Distribution - Owner's equity includes capital stock, capital reserves, and retained earnings, with specific rules for profit distribution [43][44] - The board of directors must implement profit distribution decisions within two months of shareholder approval [48] Cost and Expense Management - The company controls costs and expenses through budget management, ensuring accountability for budget execution [49][50] Tax Management - Tax management focuses on legal compliance and cost-effectiveness, with regular assessments of tax risks [52][53] - The financial department is responsible for identifying and managing tax risks systematically [56][57] Financial Reporting and Analysis - Financial reports must adhere to national accounting standards and be prepared accurately [58][59] - Regular financial analysis meetings are held to evaluate the company's financial status and operational performance [61] Financial Information System - The company utilizes a unified financial information system for accounting and financial management [62][63] Financial Supervision and Control - Internal controls are established to ensure effective supervision and separation of incompatible duties [65][66] - The board's audit committee oversees financial activities and internal audits [66]

福建东百集团股份有限公司 对外担保管理制度 目 录 第一章 总则 第一条 为规范福建东百集团股份有限公司（以下简称"公司"）对 外担保行为，有效控制担保风险，保护股东和其他利益相关者的合法权益， 根据《中华人民共和国公司法》《中华人民共和国证券法》《中华人民共 和国民法典》《上市公司监管指引第 8 号——上市公司资金往来、对外担 保的监管要求》《上海证券交易所股票上市规则》《上海证券交易所上市 公司自律监管指引第 1 号——规范运作》及《福建东百集团股份有限公司 公司章程》（以下简称"《公司章程》"）的有关规定，结合公司实际情 况制定本制度。 第二条 本制度适用于公司及公司合并报表范围内各级子公司（包括 全资子公司、控股子公司，以下简称"子公司"）。 第三条 本制度所述的对外担保是指公司及子公司以自有资产或信用 等以第三人身份为债务人对债权人所负的债务提供担保，包括公司为子公 司提供担保、子公司间担保等。担保形式包括提供保证、抵押、质押等， 具体种类包括但不限于银行授信担保、银行开立信用证和银行承兑汇票、 开具保函的担保等。 第五条 公司对外担保应当遵循平等、合法、审慎、互利、安全的原 则，严格控制担保风险。 ...

福建东百集团股份有限公司 关联交易管理制度 目 录 第一章 总则 第一条 为规范福建东百集团股份有限公司（以下简称"公司"）的 关联交易行为，保证公司关联交易的公允性及合理性，以保障公司、股东 和债权人的合法权益，根据《上海证券交易所股票上市规则》（以下简称 "《股票上市规则》"）《上海证券交易所上市公司自律监管指引第5号— —交易与关联交易》及《公司章程》规定，特制定本制度。 第二条 公司进行关联交易应符合下列原则： （一）诚实信用原则； （二）定价公允，不损害公司、非关联股东及债权人合法权益的原则； （三）关联股东及董事回避表决原则； （四）决策程序合规、信息披露规范原则。 第三条 本制度适用于公司及子公司，其中"子公司"包括公司全资、 控股及其他纳入公司合并报表范围的各级子公司。 第二章 关联人与关联交易 第四条 本制度所称的关联人，是指与公司存在关联关系，在公司财 务和经营决策中，有能力对公司直接、间接控制或施加重大影响力的有关 各方，包括关联法人、关联自然人。 第五条 具有下列情形之一的法人（或者其他组织），为公司的关联 法人（或者其他组织）： （一）直接或间接地控制公司的法人（或者其他组织）； （ ...

目 录 第一章 总则 福建东百集团股份有限公司 董事会议事规则 第一条 为进一步规范福建东百集团股份有限公司（以下简称"公司" ） 董事会的议事方式和决策程序，促使董事和董事会有效地履行其职责，保 证董事会依法行使职权，提高董事会规范运作和科学决策水平，根据《中 华人民共和国公司法》（以下简称"《公司法》"）《中华人民共和国证 券法》（以下简称"《证券法》"）《上市公司治理准则》《上海证券交 易所上市公司自律监管指引第 1 号——规范运作》等法律、行政法规、规 范性文件和《福建东百集团股份有限公司章程》（以下简称"《公司章程》 "） 等有关规定，制定本规则。 第二条 董事会是公司经营决策的常设机构，执行股东会的决议，董 事会履行其职责时应严格遵守《公司法》《证券法》等有关法律、行政法 规、规范性文件和《公司章程》的规定。公司全体董事应当勤勉尽责，确 保董事会正常召开和依法行使职权。 第三条 董事会下设证券事务部门，在董事会秘书的领导下处理董事 会日常事务，董事会秘书负责保管董事会印章。 第二章 董事会组成及职权 第四条 董事会由 7-9 名董事组成，包括职工董事 1 名，独立董事人 数占董事会人数的比例不低于 ...