Core Viewpoint - Li Nan, former senior vice president and general manager of commercial real estate at Longfor Group, has officially joined China International Trade as executive director and general manager, marking a significant career transition after a two-year hiatus [2][15]. Group 1: Background and Career Progression - Li Nan began her career at various companies including Baoteng Real Estate and Wuhan Baisheng Catering, before joining CapitaLand in 2001, where she became one of the few female executives in the male-dominated commercial real estate sector [2]. - During her 15 years at CapitaLand, she held the position of Central China Regional General Manager, overseeing the launch of several commercial projects, including the notable CapitaLand Mall in Wuhan [2][7]. Group 2: Contributions to Longfor Group - Li Nan was recruited to Longfor Group in 2015, where she played a crucial role in the company's commercial strategy, which included allocating 10% of annual sales returns to holding properties [3][6]. - Under her leadership, Longfor's commercial segment experienced rapid growth, with the company expanding its commercial projects significantly, including the opening of its first project in Beijing [3][8]. Group 3: Transition and Departure from Longfor - In 2020, Li Nan's influence within Longfor began to wane, as several of her subordinates left the company, and she shifted focus towards external communications and marketing [12][13]. - In August 2023, Longfor announced her retirement, with speculation that her two-year absence from the industry was due to a non-compete agreement [14]. During her tenure, Longfor opened five new malls, reaching a total of 81 operational malls with a rental income of 4.87 billion yuan [14]. Group 4: Future Prospects - Li Nan's new role at China International Trade is anticipated to bring fresh perspectives and strategies to the company, as she embarks on a new chapter in her career [15].

Core Insights - Aldi has entered a strategic partnership with Golden Eagle International Group, marking its first collaboration with a large commercial group since entering the Chinese market, which is a significant milestone for the brand [1][3][4] Group 1: Strategic Collaboration - The partnership aims to leverage shared resources and complementary strengths to enhance consumer experience and commercial value [3][4] - Golden Eagle International Group has a strong market foundation and deep insights into local consumer demands, which will assist Aldi in connecting with local consumers and expanding in East China [3][5] - The collaboration signifies a strategic upgrade for Aldi, transitioning from single-store expansion to regional cooperation, enhancing its ability to deliver high-quality, low-cost shopping experiences to more consumers in Jiangsu [3][6] Group 2: Operational Synergies - Aldi's global and local supply chain advantages and its own brand matrix align well with Golden Eagle's customer base, enhancing the appeal and loyalty of quality-conscious consumers [5] - The first project under this partnership will see Aldi entering the Golden Eagle International Group's Nanjing Xianlin store, with plans for further collaborations in other cities in East China [5][6] - The opening of the Nanjing Xianlin store is scheduled for January 2026, alongside three new Aldi stores in Nanjing [5]

Group 1 - The core project "Taikoo Place Beijing" has completed the structural topping of all eight buildings, marking a new development phase for this landmark riverside commercial project [1] - The project is set to open in phases starting from the end of 2026 and aims to become a world-class commercial landmark in Beijing, reshaping the commercial landscape and enhancing economic vitality in the northeastern region [1] - The project aligns with Beijing's high-quality development goals and the construction of the "Two Rivers and One Belt" world-class waterfront economic zone in Chaoyang District [1][2] Group 2 - The "Taikoo Place Beijing" will feature the new East Hotel and serviced apartments, offering 318 stylish guest rooms and an executive lounge, catering to both business and leisure travelers [2] - The project will introduce the first "Taikoo Place" branded retail mall in mainland China, integrating outdoor retail with riverside leisure experiences, covering a total area of approximately 150,000 square meters [3] - The project includes a multifunctional space called "The Delphi," which spans 19,000 square meters and features flexible workspaces, a large banquet hall, and facilities for art exhibitions and community events [3] Group 3 - The entire project aims for seamless connectivity among its components through indoor and outdoor walkways, directly linking office buildings, retail areas, hotels, and supporting facilities to the subway network [4] - The operational goal of the project is to fully utilize green energy, having already obtained LEED and WELL platinum-level pre-certifications [4] - "Taikoo Place Beijing" is expected to set a new benchmark for urban sustainable development by integrating commercial, green spaces, waterfront landscapes, and cultural experiences [4]

随着零售销售显现稳定迹象，而回报率仍处于高位，投资者对零售物业的兴趣正逐步回升。工业物业市 场方面，虽然租赁市场持续淡静，但投资市场于季内改善，主要受用家需求及重建潜力所推动。 钟楚如表示，香港主要银行9月跟随美国减息，有助稳定整体市场气氛，并标志着香港楼市踏入减息周 期。住宅市场预计率先受惠于减息带来的较低融资成本，但在银行信贷仍然紧缩的情况下，减息对整体 商业地产市场的提振作用相对有限。香港第三季写字楼市场回稳主要由实质租赁需求带动，而非利率下 调所致。 2025年第三季，整体写字楼市场逐步回暖，录得64.6万平方呎的净吸纳量，季环比反弹137.5%，扭转上 半年疲弱表现。尽管季内有新项目落成，整体空置率由6月的13.6%改善至9月的13.4%。中环及九龙东 空置率分别下跌0.8个百分点，而湾仔／铜锣湾空置率则上升2.5个百分点至12.0%。整体香港写字楼租 金季环比下跌0.8%，所有分区市场均见租金回落。其中，中环租金下跌0.3%，而港岛东跌幅最为显 著，达3.2%。 智通财经APP获悉，仲量联行研究部资深董事钟楚如表示，随着租户渐趋活跃，香港第三季写字楼租务 气氛得到改善。金融、财富管理及专业服务行业 ...

Core Viewpoint - The Beijing Poly Times project in Changping Future Science City is set to open in 2026, aiming to create a waterfront park-style commercial complex [1] Group 1: Project Overview - The Poly Future Dadu Hui is located in the eastern area of Future Science City, directly above the Future Science City Station on Metro Line 17, making it a key TOD (Transit-Oriented Development) commercial project [1] - The commercial section of the project is named Poly Times and will focus on a "new lifestyle social fusion space" as its core positioning [1] Group 2: Strategic Features - The project will deeply integrate with the ecological endowments of Future Science City, establishing a "cycling+" commercial ecosystem [1] - It aims to attract high-quality brands and IPs, and will host diverse activities such as themed events and music festivals [1]

Core Viewpoint - Dalian Wanda's stock price has shown fluctuations, with a recent increase of 2.18%, and the company has experienced a year-to-date stock price increase of 7.89% [1] Group 1: Stock Performance - As of October 21, Dalian Wanda's stock price reached 3.28 CNY per share, with a trading volume of 13.67 million CNY and a market capitalization of 14.06 billion CNY [1] - The stock has increased by 2.50% over the last five trading days, decreased by 3.53% over the last 20 days, and increased by 8.97% over the last 60 days [1] Group 2: Financial Performance - For the first half of 2025, Dalian Wanda reported a revenue of 15.23 billion CNY, a year-on-year decrease of 5.29%, while the net profit attributable to shareholders was 109 million CNY, reflecting a year-on-year increase of 129.87% [2] Group 3: Shareholder Information - As of June 30, 2025, the number of Dalian Wanda shareholders was 96,600, a decrease of 2.60% from the previous period, with an average of 41,454 circulating shares per shareholder, an increase of 2.67% [2] - The company has cumulatively distributed 2.05 billion CNY in dividends since its A-share listing, with no dividends distributed in the last three years [3] - The fourth largest circulating shareholder is Hong Kong Central Clearing Limited, holding 24.60 million shares, a decrease of 2.93 million shares from the previous period [3]

市场销售量价延续弱势。9月单月全国商品房销售面积同比下降10.5%，降幅较8月收窄0.1个百分点。最新数据显示10月截至17日，38城新房成交面积同比 下降30%，市场销售压力仍存。房价表现延续弱势，9月单月全国70个大中城市二手住宅价格指数环比下降0.6%，降幅较8月持平，70个城市的二手住宅价 格在9月均环比下跌。 中信建投（601066）发布研报称，房地产销售量价延续弱势，9月单月全国商品房销售面积同比下降10.5%，10月截至17日38城的新房成交面积同比下降 30%;9月全国70个大中城市的二手住宅价格指数环比下降0.6%，70个城市的二手住宅价格在9月均环比下跌。9月单月房地产开发投资额同比下降21.3%， 降幅较8月扩大1.8个百分点。开发商投资继续聚焦确定性较强的一线城市，9月一线城市的宅地出让溢价率保持在14%的较高水平。 中信建投主要观点如下： 统计局公布2025年9月房地产市场运行情况，9月单月房地产销售面积、投资额、新开工面积、竣工面积分别为8531万平方米、7397亿元、5598万平方米、 3435万平方米，同比增速分别为-10.5%、-21.3%、-14.4%、+1.5%，前值分别 ...

Core Insights - The Yichen Shopping Center officially opened on October 18, serving as a key landmark project in the Pinglu District, integrating agriculture, cultural tourism, and commerce into a modern service industry "new business circle" [1] - The project features hundreds of brands, including regional flagship stores and concept stores, covering various commercial formats such as luxury fashion, affordable dining, lifestyle experiences, digital technology, boutique retail, and cinemas [1] Group 1 - The opening aims to provide convenient and thoughtful services for local residents, creating job opportunities and enhancing consumer experiences in Pinglu District [1] - The Yichen Shopping Center is part of a broader initiative by Xiyi Group to support the transformation of Pinglu from an energy-based economy to a diverse economy including cultural tourism, new retail, and agricultural products [7] - The center combines shopping, dining, cultural tourism, and financial services, addressing the current lack of diverse commercial offerings and brands in Pinglu District [7] Group 2 - The Pinglu District is rich in historical culture, cultural heritage, and intangible cultural assets, with the Gu Li Center serving as a key new cultural tourism brand and a cultural window for the city [8] - The Gu Li Center includes various thematic areas such as "National Studies Valley," "Intangible Heritage Valley," and "Traditional Chinese Medicine Valley," aiming to foster cultural and creative industries [8] - The "Xiyi Tiange" brand focuses on providing high-quality agricultural products, ensuring safety and nutrition from farm to table, with products like buckwheat noodles and oat flour being 100% pure grain processed without additives [8]

Market Overview - The Hong Kong stock market experienced a strong rally, with the Hang Seng Index closing at 25,858.83 points, up 2.42% [2] - The total market turnover was approximately HKD 239.2 billion, with southbound funds recording a net sell of HKD 2.67 billion [2] - Among the major indices, the Hang Seng Technology Index rose by 3%, while the Hang Seng China Enterprises Index increased by 2.45% [2][3] Company Highlights - UBTECH, referred to as the "first humanoid robot stock," saw a significant increase of 9.77% following the announcement of a new contract worth HKD 126 million for the procurement and installation of humanoid robots [5][7] - The company has secured over HKD 630 million in orders for its Walker series humanoid robots this year, indicating strong commercial momentum in the humanoid robotics sector [7] Sector Performance - The technology sector showed robust performance, with Alibaba-W rising by 4.86%, and other major tech companies like NetEase-S and Tencent Holdings also experiencing gains [10] - Alibaba is preparing for the "Double 11" shopping festival by issuing HKD 50 billion in consumer vouchers, aiming to enhance user engagement and increase platform monetization [11] Real Estate Developments - Hong Kong real estate stocks saw collective gains, with notable increases in companies like Wharf Holdings and Swire Properties [13] - A significant transaction was reported where Alibaba and Ant Group acquired a commercial property in Hong Kong for HKD 6.6 billion, marking the largest office transaction of the year [15] Financial Cooperation - A memorandum of cooperation was signed between Jiangsu Provincial Financial Regulatory Bureau and Hong Kong Treasury Bureau, aimed at enhancing financial collaboration and supporting Jiangsu enterprises in accessing Hong Kong's capital markets [16][18]

万商俱乐部创始人杨泽轩认为，当前商业面临同质化严重与消费需求升级的双重挑战。北京保利时光里 依托独特的滨水生态场景、文艺气质的内容运营及"骑行+"等差异化主题，才能突破区域商业困局。 北京商报讯（记者 刘卓澜）10月20日，北京商报记者获悉，保利"时光里"商业产品线正式亮相北京， 将以"滨水公园式商业"形态，打造京北区域独具特色的"新生活方式社交聚变场"。据介绍，北京保利时 光里作为保利未来大都汇的商业部分，亦是保利商旅"时光里"品牌首次进入北京市场，该项目将以"新 生活方式社交聚变场"的核心定位，引入优质品牌与IP、主题赛事、音乐节等多元活动，打造为京北微 度假目的地与区域级商业新地标。 作为京北发展核心，未来科学城自2009年创建以来，已形成"两区一心"空间布局与"两谷一园"产业格 局，汇聚大量高知人才与高品质家庭，消费潜力雄厚。保利商旅商业事业部副总经理叶柯介绍，未来科 学城周边超80万常住人口，同时，项目深度链接昌平音乐节、温榆河公园、北京山姆会员商店（昌平 店）等文商旅资源，通过融合溪流乐园、骑行空间、多元餐饮与复合社交场地，为区域消费升级与生活 方式焕新提供强大助力。 保利发展北京公司总经理李红亮 ...