Group 1 - The company is established as a foreign-invested joint-stock company, transitioning from Tianhong Mall Co., Ltd, with a registered capital of RMB 1,168,847,750 [2][3][6] - The company aims to implement a comprehensive customer satisfaction strategy and become a leading retail enterprise in China, focusing on quality products and services [5][6] - The company is committed to maintaining a governance structure that ensures transparency, accountability, and effective checks and balances [2][4] Group 2 - The company’s business scope includes a wide range of products and services, such as daily necessities, textiles, food, electronics, and various retail and wholesale activities [6] - The company has a total of 1,168,847,750 shares, all of which are ordinary shares [7][22] - The company is prohibited from providing financial assistance for others to acquire its shares, except under specific circumstances approved by the board [8][9] Group 3 - The company’s shareholders have rights to dividends, attend meetings, supervise operations, and access company documents [13][15] - The company’s shareholder meetings are the highest authority, responsible for electing directors, approving financial reports, and making significant corporate decisions [22][23] - The company must hold an annual general meeting within six months after the end of the previous fiscal year [28][29]

董事会战略与 ESG 委员会工作细则 天虹数科商业股份有限公司 董事会战略与ESG委员会工作细则 （2025 年修订） 第一章 总则 第三章 职责权限 第一条 为进一步完善天虹数科商业股份有限公司（以下简称"公司"）治理 机制，适应公司战略发展需要，健全战略规划的决策程序，提升公司环境、社会 及公司治理（ESG）管理水平，促进公司可持续的高质量发展，根据《中华人民共 和国公司法》、《上市公司治理准则》、《公司章程》及其他有关规定，公司董 事会下设战略与ESG委员会，并制订本细则。 第二条 战略与ESG委员会是董事会设立的专门工作机构，依照《公司章程》 和董事会授权履行职责，战略与ESG委员会的提案按要求提交董事会审议决定。 第三条 公司资本运营部负责战略与ESG委员会日常工作联络、会议组织及委 员会决策前的各项准备工作。 第二章 人员组成 第四条 战略与ESG委员会委员由五名董事组成。 第五条 战略与ESG委员会委员由董事长、副董事长或者全体董事的三分之一 以上提名，并由董事会选举产生。 第六条 战略与ESG委员会设主任委员（召集人）和副主任委员各一名，并由 董事会选举产生。 第七条 战略与ESG委员会委员任 ...

Core Viewpoint - The document outlines a set of regulations aimed at preventing major shareholders and related parties from misappropriating company funds, ensuring the protection of the company's and shareholders' rights [2][3]. Group 1: General Principles - The regulations are established to strengthen and standardize the fund management of Tianhong Digital Commercial Co., Ltd., preventing the misappropriation of funds by major shareholders and related parties [2]. - The regulations apply to major shareholders, actual controllers, and related parties in terms of fund management [2]. - Misappropriation of funds includes both operational and non-operational fund usage [3]. Group 2: Prevention Principles - The company must strictly prevent fund misappropriation during operational transactions with major shareholders and related parties [5]. - The company is prohibited from providing funds directly or indirectly to major shareholders and related parties through various means, including covering expenses or making loans [6]. Group 3: Measures and Specific Regulations - The board of directors is responsible for managing the prevention of fund misappropriation by major shareholders and related parties [5]. - A leadership group is established to oversee daily management and supervision of fund misappropriation prevention [6]. - The general manager is responsible for daily fund management, with the chief accountant assisting in monitoring transactions with major shareholders and related parties [6]. Group 4: Accountability and Penalties - Major shareholders and actual controllers who violate these regulations and cause losses to the company must bear compensation responsibilities [7]. - The board of directors and the leadership group members are obligated to maintain the integrity of company funds and will face penalties for facilitating or condoning misappropriation [7]. - A mechanism for freezing shares held by major shareholders who misappropriate funds is established, ensuring that funds are returned [7].

Core Insights - The collaboration between Shenzhen Dongmen and Macau's Outlying Islands Chamber of Commerce marks a significant step in enhancing cross-border consumption and cultural exchange within the Greater Bay Area [4][6] - The partnership aims to leverage the unique advantages of both cities, fostering a new model of cooperation that emphasizes mutual benefits and innovative commercial activities [10][12] Group 1: Collaboration and Events - The signing of the cooperation framework symbolizes a commitment to joint development between Shenzhen and Macau, particularly between the Dongmen business district and the outlying communities [6][7] - Various activities have been organized to promote cultural and commercial exchanges, including the upcoming Mid-Autumn Food Culture Carnival, which aims to create an internationally influential cultural brand [7][10] Group 2: Consumer Experience and Services - The introduction of a centralized tax refund service at Dongmen aims to enhance the shopping experience for international visitors, alongside the establishment of flagship stores and themed buildings [6][12] - A new cross-border consumption carnival has been launched, offering promotional activities that will run until December 31, 2025, targeting users from Hong Kong, Macau, and several Southeast Asian countries [11][12] Group 3: Medical and Health Tourism - The "medical-commerce-tourism" model is gaining traction, with many Hong Kong residents traveling to Shenzhen for dental services, creating a unique "dental medical street" in the area [15][17] - The number of Hong Kong patients visiting the Luo Hu Hospital Group has increased significantly, with a reported 80% year-on-year growth in visits during the first half of 2025 [17][18]

Core Insights - The implementation of the new tax refund policy in Shenyang has significantly increased the number of tax refund stores, enhancing the shopping experience for international travelers [3][4][6] - The policy aims to stimulate consumption and attract more foreign tourists to Shenyang, thereby boosting the local economy [5][6] Group 1: Policy Implementation - Since the introduction of the new tax refund policy, the number of tax refund stores in Shenyang has risen from 34 to 138, with a 146% increase in the number of tax refund applications [4] - The policy encourages the establishment of tax refund stores in major shopping areas, tourist attractions, and cultural sites, expanding the coverage of tax refund services [3][4] Group 2: Consumer Experience - All 138 tax refund stores in Shenyang now offer "instant refund" services, allowing travelers to receive their tax refunds immediately after purchase [5][6] - The process for obtaining tax refunds has been streamlined, making it easier for international travelers to complete their transactions [5][6] Group 3: Economic Impact - The reduction of the minimum purchase amount for tax refunds to 200 yuan has incentivized more foreign travelers to shop, particularly for cultural and specialty products [6] - The new tax refund policy is expected to enhance Shenyang's international appeal and contribute to high-quality economic development [6]

Economic Performance - Chaoyang District's GDP is projected to exceed 923 billion yuan in 2024, with a current GDP of 462.01 billion yuan in the first half of the year, reflecting a growth rate of 5.1% [1] - The district's general public budget revenue reached 58.47 billion yuan, and the total retail sales of consumer goods amounted to 129.5 billion yuan, with multiple indicators ranking among the top in the city [1] International Engagement - Chaoyang District hosts nearly 100% of foreign embassies in China, 70% of regional headquarters of multinational companies, and 65% of foreign financial institutions [1] - The district has established a system of six international communication lounges and attracted 31 key foreign investment institutions, enhancing its international service capabilities [2] Consumer Market Development - The district has developed a consumption map and introduced 31 new commercial facilities since the 14th Five-Year Plan, with plans for more iconic consumer landmarks [2] - Chaoyang District's commercial complexes account for nearly half of the city's high-quality shopping areas, with first stores and new consumption brand incubators also making up 50% of the city [2] Urban Renewal and Infrastructure - The district is focusing on urban renewal driven by river revitalization, creating a world-class waterfront economic zone along the Liangma River and the Ba River [4] - A new 15-kilometer boat route along the Ba River is set to open by the end of the year, enhancing connectivity and recreational opportunities [4] Future Initiatives - The district plans to implement a series of actions to boost consumption, including the promotion of a 24-hour vibrant urban environment and support for internet retail [3] - Ongoing projects include the second phase of the Chaoyang Outer Street update and the second phase of the Liangma River cultural economic belt construction [3]

Core Insights - The report highlights the ongoing transformation in the commercial real estate sector, with companies adapting through expansion, upgrades, and innovative operations to meet diverse consumer demands [2][7]. Group 1: Business Expansion and Partnerships - China Resources Vientiane Life and Fujian Sanxin Group signed a cooperation agreement to upgrade the Putian Jinding Plaza, set to reopen in 2026 as the first Vientiane Hui commercial entity in Fujian [4]. - Poly Travel and Knowledge City Group signed a contract for the Xiangxue Time project, marking Poly Travel's ninth commercial project in Guangzhou, focusing on a POD concept shopping center [4]. - The strategy of "core cities + potential areas" is expected to strengthen China Resources Vientiane Life's influence in both high-end and mass consumer markets [4]. Group 2: New Project Launches - Greenland Group's Tianjin Tuanbo Greenland Colorful World commercial street officially began trial operations on July 2, covering approximately 16,000 square meters [5]. - Major projects from leading companies like China Resources and China Merchants are also entering the market, including Zhengdong China Resources Vientiane City and Nanjing Xuanwu China Merchants Garden City [5]. Group 3: Retail Trends and Consumer Engagement - Zhengdong Vientiane City is adopting a light luxury trend with brands like LANCÔME and PRADA, while also incorporating over 30 high-end outdoor brands to align with the growing sports trend [6]. - JD.com has been rapidly opening new stores, with the Beijing Double Qian store attracting over 100,000 visitors and achieving sales exceeding 10 million within two hours of opening [6]. Group 4: Upgrades and Renovations - Shanghai Hang Lung Plaza's expansion is set to add approximately 3,080 square meters of retail space, increasing its leasing area by 13% [7][8]. - Aeon announced an eight-year lease agreement with Tianhe City Group, continuing operations in Guangzhou with a reduced area [8]. - The Guangzhou Tianhe Link Square is undergoing renovations, with expected sales and foot traffic increases of 31% and 37% respectively in 2024 [10]. Group 5: Community and Non-standard Commercial Developments - The DT-X project in Beijing aims to enhance community commercial ecosystems, offering a mix of high-quality supermarkets, cafes, and light dining options [12]. - The collaboration between Guangzhou Nansha Development Group and Longfor Group aims to create a non-standard commercial project, 17 Town, focusing on experiential retail [12].

Group 1 - The stock price of Hanchang Group closed at 10.68 yuan, down 2.20% from the previous trading day, with an intraday high of 11.04 yuan and a low of 10.56 yuan, resulting in a total fluctuation of 4.40% and a trading volume of 276 million yuan [1] - Hanchang Group's main business includes pharmaceutical manufacturing and commercial retail, and it is a key commercial enterprise in Hubei Province. The company is also an important player in the chemical pharmaceutical sector, involved in innovative drugs and domestic trade circulation [1] - On the capital flow front, Hanchang Group experienced a net outflow of 8.92 million yuan from main funds, accounting for 0.28% of its circulating market value. However, over the past five trading days, the stock has seen a cumulative net inflow of 15.77 million yuan from main funds, indicating some divergence in investor sentiment towards the stock [1]

Group 1 - The latest stock price of Aishide is 12.32 yuan, with an increase of 0.08% compared to the previous trading day, and a trading volume of 171 million yuan, resulting in a turnover rate of 1.14% [1] - Aishide operates in the commercial retail sector, with its main business segments being digital distribution (64.06% of revenue) and retail (35.52% of revenue) for 2024 [1] - On August 5, the company announced plans to acquire a 13.6365% stake in Gongqingcheng Aishide Innovation for 102 million yuan, which will result in the company indirectly holding 100% of the equity [1] - The board of directors approved a proposal to provide a 2 billion yuan credit guarantee for its subsidiary, Shifeng Technology [1] - On August 5, the net outflow of main funds was 10.15 million yuan, with a cumulative net outflow of 28.31 million yuan over the past five days [1]

2024年1至12月份，天虹股份的营业收入构成为：商业占比97.6%，其他业务占比2.4%。 （文章来源：每日经济新闻） 天虹股份（SZ 002419，收盘价：5.69元）8月4日晚间发布公告称，截至2025年7月31日，公司暂未回购 公司股份。 ...