欢迎关注，顺义国资 导读 Introduction 行业专家授课明晰发展路径 近日，顺招公司组织开展"强翼领航"系列培训，首期培训聚焦"求变突围"与"绩效考核"核心主题，来自各职能部室及所属企业的18名骨干成员参加。 深度对话赋能实战能力 聚焦公司主营业务及经营管理中的难点问题，特邀全国知名团餐企业——西安亿阳餐饮管理团队开展专项培训，围绕经营策略、管理架构、考核机制等领 域进行深入交流研讨，参训人员实地走访亿阳餐饮3个标杆项目，汲取标准化运营经验。 顺招公司党总支副书记、副经理刘继东介绍了区属国有企业发展历程，提出了党建业务融合发展的相关要求，并对即将推行的部室和二级公司负责人过渡 期考核办法进行详细讲解。 供稿：顺招公司 实践研学环节突出"业态全覆盖、模式深解析"特点，组织学员深入探访陕西新东方烹饪学校，实地考察职业教育机构在产教融合、技能培训体系搭建方面 的创新做法，重点学习其标准化课程设计与市场化运营逻辑；走进"永兴坊"非遗文化商业街区，解码特色商业体如何通过文化IP打造、场景化消费体验实 现传统业态创新，为公司商业项目运营提供思路借鉴。 为精准对接公司即将推行的绩效考核改革，邀请原华为考核中心资深专 ...

北京商报讯（记者 刘卓澜）房山区再多一座新地标。9月29日，北京商报记者从瑞来广场获悉，该项目的北投瑞来酒店、翎动体育羽毛球馆及部分商业率先 开业亮相。据介绍，瑞来广场在建筑形态上将江南传统"回"字形院落式建筑形制引入北京房山项目。该项目整体由7栋建筑组成，以开放式庭院为核心，四 周分布商业、办公、酒店三大功能建筑，1－3号楼承载办公及酒店功能，4－7号楼为商业空间。 瑞来广场商业及办公部分的前期策划、招商及后期运营工作，均由北投商业负责。其中，商业板块建筑面积约为34000平方米，命名为"D.P.One瑞来"。作为 北投商业公司D.P.One产品线，D.P.One 瑞来深度延续了该产品线"文商旅体融合的情景式体验目的地"消费概念，旨在打破传统商业空间的边界，以多元业态 组合与沉浸式场景营造，为京西南消费者尤其是年轻群体，构建一个集购物、社交、文化、休闲、运动于一体的全新生活场域。 在业态规划上，D.P.One瑞来目前已确定入驻的商户包括荟品仓、里院、悦阳里、翎动体育羽毛球馆、品味世家称重餐厅等。D.P.One瑞来相关人员介绍，商 业部分以特色主力店为运营核心，通过引入一批具有稀缺性、创新性与话题性的品牌，为 ...

9月26日，珠江实业集团旗下珠江商管同步启动两大创新项目——自营社区餐饮品牌"幸福后安粉"首店及首个写字楼运营生态星动空间正式对外开放。 作为首个将海南省级非遗后安粉技艺引入广州社区的餐饮项目，"幸福后安粉"让广州市民在家门口就能体验海南风味；而同日开放的"星动空间"则创新打造 越秀区首个超甲级写字楼"运动+社交+文化"复合生态，为高端写字楼注入新动力。从传统物业出租到自营品牌运营，珠江商管正探索存量资产增值与客户 需求满足的双赢路径。 "幸福后安粉"首店的开业，不仅将海南万宁传承数百年的非遗美食带入广州社区，更成为珠江实业集团深耕海南30年的生动注脚。 据《万宁志》记载，后安粉技艺可追溯至宋代，以猪骨浓汤和手工石磨米浆为特色，是海南四大名粉之一。 珠江实业集团自1992年进军海南以来，先后开发三亚珠江花园酒店、南田温泉度假区等标杆项目，积累了深厚的文旅运营经验。此次通过自营品牌将海南非 遗与广州社区需求结合，有效盘活了社区闲置空间，让"食在广州"的烟火气更添文化厚度。 作为响应"健康中国"国家战略的生动样本，"星动空间"将减重管理与办公场景深度融合，通过智能体测设备和多元运动器械，帮助白领实现"碎片化运动+ ...

Core Viewpoint - The real estate industry is experiencing a significant decline in both revenue and profitability, with major listed companies reporting substantial losses and a challenging outlook for the near future [1][2][4][7]. Revenue and Profitability - In the first half of 2025, typical listed real estate companies achieved total revenue of 12,868 billion yuan, a year-on-year decrease of 15%, while operating costs were 11,454 billion yuan, down 16% [1]. - The gross profit for these companies was 1,414 billion yuan, reflecting a 9% decline compared to the previous year [1]. - The net profit loss for the industry expanded to 2,762 billion yuan in 2023, further increasing to 3,397 billion yuan in 2024, and reaching 902 billion yuan in the first half of 2025 [2]. Profitability Ratios - The overall gross margin for the industry in the first half of 2025 was 10.87%, an increase of 1.8 percentage points from the entire year of 2024, while the net margin was -7.45% [4]. - Excluding companies that have faced financial distress, the gross margin for 27 stable firms was 15.09%, up 2 percentage points from 2024, with a net margin of 1.71%, indicating a recovery from previous losses [4]. Factors Affecting Profitability - The decline in profitability is attributed to high land acquisition costs, increased sales pressure, and asset impairment provisions, which have negatively impacted current profit performance [4][7]. - Companies are resorting to discount promotions to boost sales, leading to a situation where revenue increases do not translate into profit growth [4]. Industry Outlook - The industry is at a turning point, with a shift in policy focus from deleveraging to risk prevention, and a change in demand dynamics from broad increases to differentiation [7]. - Major companies like Longfor and Vanke express cautious optimism, highlighting the ongoing demand for quality housing in core urban areas despite recent price declines [7][8]. Strategic Planning of Key Companies - China Resources Land plans to maintain an annual opening pace of around six shopping centers, with a focus on public REITs to enhance asset value [9]. - China Merchants Shekou aims to optimize asset structure and enhance operational capabilities through a new asset management model [9]. - Longfor Group anticipates a 10% growth in its commercial sector and plans to open approximately ten new projects annually in the coming years [9]. - New City Holdings is focused on enhancing its commercial operations and leveraging financial policies to improve its capital structure [9].

2025.09. 24 本文字数：1203，阅读时长大约2分钟 作者 | 第一财经 郑娜 作为"香港四大家族"之一郑氏家族创始人郑裕彤的长孙郑志刚又有了新的创业赛道。 近日，郑志刚在香港创立了一家名为"香港上合发展"的投资公司，覆盖数字领域及新兴市场，包括文 化、娱乐、体育、中医医疗全球化、金融等多个产业领域。 同时，郑志刚也辞去了家族旗下多家上市公司的职位，包括新世界百货中国（00825. HK）董事会主 席、周大福（01929. HK）执行董事、新创建集团（00658. HK）非执行董事。 就在业内对郑氏家族第三代"接班人"产生诸多猜测之时，郑志刚还决定将自己创办的K11"带走"。 根据当时的交易，新世界发展与郑志刚全资拥有的公司签署合约，以2.09亿港元出售了5家公司股 份，这5家公司主要营运管理K11品牌及其相关业务的公司股份；同时，双方还订立了服务总协议及 商标许可协议，"K11"相关商标许可协议为期30年，郑志刚方面也继续管理运营新世界发展旗下的 K11物业。 据了解，郑志刚对这一业务的构思从两年前就开始了。他表示，期望在短期内公布更多筹备中的项 目，以实际行动将集团的未来蓝图化为现实。 郑志刚对 ...

郑平表示，长沙正全力建设国际消费中心城市，需要引进并培育一批消费新业态、新模式、新场景，希望北辰深 度融入长沙新消费发展大局，强化资源导入，打造品牌集聚新高地；推动商圈联动，构建"一江两岸"新格局；促 进业态融合，树立长沙商业新标杆。 长沙晚报掌上长沙9月20日讯（全媒体记者 刘捷萍）9月20日，长沙北辰荟正式焕新迎客，推动了消费场景、服务 和体验的系统升级，为长沙城北商业注入全新活力。北辰集团党委书记、董事长张杰，副市长郑平出席。 北辰集团深耕长沙多年，截至目前在长总投资已突破420亿元，总开发体量达520万平方米，累计贡献税收超过 78.7亿元。张杰介绍："作为北辰集团旗下全新自主运营的商业品牌，长沙北辰荟的开业标志着北辰商业在华中地 区的重磅布局落地。"据悉，长沙北辰荟兼顾"首进惊喜"与"本土情怀"，不仅新引入WHATEVER COFFEE华中首 店、"而意"长沙首店等24家首进品牌，并集结茶颜悦色、柠季等本土新消费品牌。项目巧妙融合商业与艺术，特 邀知名艺术家张占占创作大型公共艺术装置，精心策划《浪浪山小妖怪》湖南首展，现场人气火爆。 ...

齐鲁晚报.齐鲁壹点通讯员郁丽蒙 金秋九月，丹桂飘香。临沂城市职业学院迎来了首届学子。自全面承接学院运营服务项目以来，临沂商管集团以物业、餐饮、商业三大板块为支柱，融合 联动、整体服务，通过专业化、精细化、智慧化的服务体系，为校园的日常运转与师生的学习生活提供了坚实而全面的保障，全力赋能这座新兴学府的高 质量发展。 此次合作是临沂商管集团聚焦教育业态、深化校企合作的战略性实践，通过输出一站式整体服务方案，保障了学院从筹建开学到迎新入学的各项工作规范 有序开展，为校企协同育人新模式写下了生动注脚。 作为多业态联动整体服务的标杆项目，临沂商管集团高度重视临沂城市学院项目，构建了科学有力的组织领导体系。项目设立了总负责人作为指挥"中 枢"，形成了上下贯通、协同高效的管理架构，确保了多板块服务无缝衔接、融合联动，极大提升了整体服务响应效率与运营管理品质。 餐饮服务板块作为校园生活的核心组成部分，历经数月精心筹备，在空间升级、服务迭代与资源整合上实现了全面突破。鸿蒙餐饮团队科学规划了平价快 餐区、自助餐区、特色档口区等功能分区，并协同燃气、水务集团完成了供能系统的专项改造，历时20天高效完成了管网铺设与压力测试。团队建立 ...

Core Viewpoint - *ST Nanguo Real Estate (002305) is undergoing a significant asset restructuring, planning to transfer its real estate development and leasing business assets and liabilities to Shanghai Longlin for a nominal fee of 1 yuan, aiming to pivot towards a light asset model focused on urban operations and services [1][3][7] Group 1: Asset Transfer Details - The proposed asset transfer includes 17 equity assets related to real estate development and leasing, along with receivables and other related assets and liabilities [1][2] - The total assessed value of the transferred assets is approximately -2.934 billion yuan, indicating a substantial impairment compared to the book value of 2.386 billion yuan [2] - The transaction will be settled in cash, with the total price set at 1 yuan, leading to a significant decrease in total assets and revenue but an increase in equity and net profit post-transaction [3] Group 2: Strategic Shift - The company aims to fully exit the traditional real estate development sector and transition into a comprehensive urban operation service provider, focusing on commercial operations, office management, and long-term rental apartments [7][8] - As of mid-2025, the company has 23 operational projects in the commercial sector covering 1.32 million square meters, 7 projects in the industrial sector covering 170,000 square meters, and 5 long-term rental apartment projects covering nearly 80,000 square meters [8] Group 3: Financial Performance and Market Reaction - The company has faced continuous losses since 2021, with net profits of -0.823 billion yuan, -1.693 billion yuan, and -2.238 billion yuan for the years 2022 to 2024 [6] - In the first half of 2025, the company reported a revenue of 820 million yuan, a year-on-year decline of 39.54%, while net assets further deteriorated to -2.651 billion yuan [7] - The market has shown heightened interest in the company's restructuring efforts, with stock price fluctuations noted in recent months [8]

Core Viewpoint - China Communications Real Estate has completed a significant asset restructuring, marking its full transition to a light asset operation model, which is representative of the broader industry trend towards light asset strategies in the real estate sector [1][2] Industry Trends - The real estate industry is undergoing a paradigm shift, moving away from high-leverage, rapid turnover models to a focus on management and operational service profits, with light asset operations becoming essential for long-term survival [2] - Numerous companies, including Huayuan Real Estate and Midea Real Estate, are announcing strategic transformations to reduce heavy asset investments and expand into light asset businesses such as property management and commercial operations starting in 2024 [2] Company Strategy - China Communications Real Estate's transition is supported by its parent company, China Communications Group, which is a leading global infrastructure service provider, giving it unique advantages over other real estate firms [2][3] - The restructuring aims to enhance business synergy within the group, with China Communications Real Estate focusing on operational services while China Communications Real Estate Group handles property development, creating a closed loop of "development - operation" [4][5] Operational Synergy - The restructuring enhances operational synergy, allowing projects developed by China Communications Real Estate Group and Greentown China to be managed by China Communications Real Estate, ensuring a stable source of quality business [5] - The separation of development and operational services at the corporate level helps mitigate risk transfer between business units, strengthening the overall risk resistance of the listed company [5] Light Asset Development - China Communications Real Estate is not starting from scratch in its light asset strategy, as it has already established professional companies under China Communications Real Estate Group that cover various fields, providing a solid foundation for its transition [6] - In the first half of 2025, the light asset business showed strong performance, with property management revenue reaching 485 million yuan and managed area totaling 55.7669 million square meters [6] Future Outlook - The company aims to further explore value-added services within its existing managed area and expand into community retail, home care, and asset management, while also actively seeking third-party property management projects [7] - Leveraging China Communications Group's technological expertise in smart cities and new infrastructure, the company plans to accelerate its transformation into a "smart city service provider" [7] - The transition of China Communications Real Estate serves as a valuable model for other enterprises, particularly state-owned and central enterprises, on how to utilize their advantages and innovate in response to industry trends [7]

Core Viewpoint - Company focuses on a three-in-one development engine of "supermarket + asset leasing + management output" centered around physical stores, covering regions such as Hainan, Guangdong, Shaanxi, Hunan, Jiangsu, and Jilin [1] Group 1: Business Operations - The company continues to optimize its business model in response to new consumption trends, with the supermarket chain segment centered on Shun Kelong, leveraging the Guangdong-Hong Kong-Macao Greater Bay Area policies [1] - Aiming to build an ecosystem of "fresh direct procurement + instant retail + community services" through "regional deep cultivation + scenario innovation" to create an omnichannel network [1] - The company utilizes digital and AI technologies to enhance the "online ordering + community self-pickup" model, deepening cooperation with Meituan and JD Daojia for improved short-distance delivery efficiency [1] Group 2: Real Estate Projects - The commercial real estate projects focus on the trend of consumption upgrades, with innovations in business formats to stimulate revenue, such as the Changchun project which creates a "night economy complex" led by entertainment, supplemented by e-commerce and specialty dining [1] - The company emphasizes the operation of industrial properties in major national and regional center cities, focusing on "commercial operation + urban integration" to create a smart, high-value-added industrial ecosystem [1] Group 3: Brand Development - The company operates the Xingyue MALL, a dual-use underground commercial space that integrates shopping and leisure with national defense emergency functions, participating in urban safety system construction [1] - During the reporting period, the total foot traffic in the operated Xingyue MALL districts increased by 11% year-on-year, with key stores in Zunyi, Guiyang, Panzhihua, and Yining successfully established [1] - In brand output, the company signs light-asset projects using the "TOD + dual-use" standardized model to expand the "Xingyue MALL" brand, generating revenue from commercial operations [1]