Core Viewpoint - The Guangbai Department Store in the Dongshankou business district of Guangzhou has reportedly withdrawn from its location, with signs and decorations being removed, and the site is set to undergo a transformation into "Dongshan Future" [2][4][10].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].

南都讯 记者林敏儿 6月17日，深圳市罗湖区东门步行街首个离境退税"即买即退"集中退付点在东门太阳百货正式 启用，标志着离境退税"即买即退"业务正式在东门街区铺开。 罗湖区拥有3个入境口岸，同时作为商贸大区、消费强区，商超众多、人流密集，拥有发展离境退税购物得天独厚 的条件。为更好服务旅客需求，罗湖区积极按照市里部署和规划，不仅在东门步行街区启动离境退税"即买即 退"集中退付点建设工作，更开通了多条专线巴士，接送口岸旅客到各大商圈，为境外旅客提供更加极致的离境退 税购物体验。 太阳百货自1999年入驻东门商圈以来，首创"百货+广场"营销模式，历经二十余年发展，已成为集零食、餐饮、体 验于一体的综合商业体，其在业态创新、品牌矩阵及服务能力上的领先优势，使其成为罗湖区推进国际消费中心 核心区建设的重要载体，也成为东门首个离境退税"即买即退"商场的首选。 记者了解到，太阳百货目前共有66家离境退税"即买即退"商户，包括品牌腕表、时尚服饰、护肤彩妆等领域。境 外旅客在商场指定商店购物后，可当场完成退税并领取退税款，方便快捷。 "以前买完东西还要专门前往口岸办理退税，现在在商场当场就能拿到退税款，再也不用来回奔波了！" ...

在广州巨惠码头发展有限公司，发现全球日用百货正品特卖的魅力 在移动互联网高速发展的今天，广州巨惠码头发展有限公司还特别注重线上购物体验的优化。用户只需轻点手机 屏幕，即可在用户友好的网站界面上浏览全球日用百货精品，并通过便捷的移动支付系统完成交易，整个过程轻 松快捷。此外，线上平台的大数据分析还能进一步细化客户画像，实现更加个性化的商品推荐，大大增强了顾客 的购物满意度。 值得一提的是，广州巨惠码头发展有限公司在市场营销方面也展现出了独到的见解。通过与各大社交平台上的网 红合作，进行产品植入和口碑营销，惠码成功地将品牌形象年轻化、时尚化，吸引了大量追求生活品质的年轻消 费者群体。同时，惠码还积极履行社会责任，引入环保材料制成的产品，鼓励消费者参与回收再利用计划，这不 仅满足了现代消费者对于绿色消费的需求，也提升了品牌的市场竞争力。 总而言之，广州巨惠码头发展有限公司以其全球视野、正品保障、智能特卖以及贴心的服务，成功构建了一个连 接全球优质商品与消费者的桥梁。在这里，每一次购物都是一次探索全球日用百货精品的旅程，每一次选择都是 对生活品质的一次提升。未来，随着技术的不断进步和市场需求的不断变化，我们有理由相信 ...

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]

整个世界都在加速。效率至上时代催生出"快速管理"的理念，这种管理痴迷于变化、过度夸大新方法， 但是缺乏对于组织差异化的背景和管理过程中具体细节的关注。本文目的是反思此种效率至上的、盲目 追求变化的管理"快时尚"，并提出更加可持续发展的管理风格和理念——"慢管理"。 管理世界的快时尚 VUCA（ Volatility Uncertainty Complexity Ambiguity，易变性、不确定性、复杂性、模糊性）时代催生 出"快速管理"的理念：组织必须不断变化才能应对外部环境剧变，领导力体现在变化中，组织变化的频 率和程度都越来越高，管理工作正在不断提速；甚至匆匆忙忙也有了价值属性——忙碌程度显示管理者 的重要程度。当管理实践加速时，对新思想和新管理实践的需求就会增加，从而推动了管理思想产业的 扩张。 乔治·瑞泽尔（George Ritzer）在其所著的《社会的麦当劳化》中提出：为了满足现代世界加速发展所带 来的对新思想的需求，管理思想产业不仅扩大了，而且还 "麦当劳化 "了。快餐业和管理思想业惊人地 相似。例如，在过去的三十年里，这两个行业都有明显的增长。对于快餐业来说，消费者通常是懒得自 己做饭或根本不 ...

6月1日起，中国单方面免签"朋友圈"首次拓展到拉美和加勒比地区国家。截至目前，适用单方面免签政 策来华的国家已达47个。 免签"朋友圈"持续扩容，带动入境游客规模与消费能级双向跃升。从"中国游"到"中国购"，入境旅游消 费市场有哪些新变化？为进一步放大入境消费的拉动效应，餐饮、住宿、购物等相关部门进行了哪些新 探索？近日，记者深入部分酒店、景区和商场进行了采访。 上海艺龙酒店—— 4月份入境游客订单量占比超85% 6月，上海正式入梅，虽然雨水逐渐增多，但入境游客仍然络绎不绝。距离南京路步行街仅500米，同程 旅行旗下的上海艺龙酒店成为不少外籍游客的落脚地。 "免签'朋友圈'进一步扩大，今年我们酒店入境游客人数屡创新高、占比持续提升，4月份入境游客订单 量占比超85%。"酒店经理张贵林介绍。 打开这家酒店的线上页面，多了不少入境游客的点评分享—— "第一次来上海住在这里，我们很开心，非常难忘。" "酒店靠近主要景点、购物场所，机器人送餐服务高效又有趣。"…… 作为酒店前台经理，刘亚婷每天都会浏览世界各地游客的反馈，以此了解入境游客的个性化需求，"对 于外国游客而言，酒店不只是休息的场所，更是展现中国文化、服务、 ...

本次离境退税"即买即退"集中退付点的启用是罗湖区推进国际消费中心核心区建设及打造五大特色消费 街区（东门活力时尚、人民南深港融合、蔡屋围国际高端、水贝黄金珠宝、笋岗家文化主题消费街区） 的重要一步。东门步行街区作为深圳最具代表性的商业街区，是罗湖助力深圳打造"世界级地标商圈"的 重要组成部分。东门太阳百货的历史可以追溯到1995年，当时深圳零售业正处于迅猛发展阶段，太阳百 货于1999年果断进入东门商圈开业，成为深圳首创"百货+广场"营销模式的实践者，如今则再次冲在前 头，成为东门首个离境退税"即买即退"购物商场。 【深圳商报讯】（记者卢晓丽）6月17日，深圳市罗湖区在东门太阳百货举行东门街区首个离境退税"即 买即退"集中退付点启用仪式。作为深圳商业街区中历史最为悠久、人流最为密集的东门步行街区，一 直是国内外旅客来深必打卡之地。东门太阳百货离境退税"即买即退"集中退付点的启用，标志着离境退 税"即买即退"业务正式在东门街区铺开。 当前国家正大力推动离境退税购物发展，深圳作为中国对外重要窗口更是吸引了众多海外旅客以及港澳 台同胞。作为一个能满足旅客"吃喝玩游乐购"消费需求的著名商圈，东门每年吸引大量境外旅客到 ...

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， ...

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]

行 业 研 究 / 行 业 点 评 证 券 相关研究 《内需崛起，挖掘新消费的情绪曲线—— 2025 夏季电商零售投资策略》 2025/06/10 《4 月社零同比+5.1%，政策支持下内需 展现强韧性——4 月社会零售品消费数据 点评》 2025/05/19 行 业 及 产 业 商贸零售 2025 年 06 月 15 日 年中大促临近尾声，多地国补转向 证券分析师 赵令伊 A0230518100003 zhaoly2@swsresearch.com 联系人 李秀琳 (8621)23297818× lixl2@swsresearch.com 本期投资提示： 请务必仔细阅读正文之后的各项信息披露与声明 本研究报告仅通过邮件提供给 中庚基金 使用。1 研 究 | 2.本周休闲服务行业行情回顾 6 | | | --- | --- | | 2.1 本周市场行情回顾 | 6 | | 2.2 本周个股行情一览 | 7 | | 3.公司公告更新 9 | | | 3.1 | 商贸零售 9 | | 3.2 | 社会服务 9 | | 4.行业大事回顾 9 | | | 4.1 | 商贸零售行业 9 | | 4.2 | 社会服务行业 ...