Core Viewpoint - Yuyuan Group (豫园股份) reported significant financial losses in Q3 2025, marking the first time since 2002 that the company has recorded a loss in this quarter, with a net loss of 5.51 billion yuan [2] Financial Performance - For the first three quarters of 2025, the company's revenue was 28.4 billion yuan, a year-on-year decrease of 21.3% [1] - The net profit attributable to shareholders was a loss of 488 million yuan, a decline of 142.1% year-on-year [1] - The net profit excluding non-recurring items worsened from a loss of 672 million yuan in the same period last year to a loss of 953 million yuan [1] - The net cash flow from operating activities was 1.102 billion yuan, down 56.68% year-on-year [1] - The gross profit margin for the first three quarters was 13.11%, an increase of 0.05 percentage points year-on-year, while the net profit margin was -2.60%, a decrease of 5.28 percentage points [1] Business Segment Performance - The jewelry fashion segment, which is the core business, saw revenue decline by 31.86%, primarily due to structural adjustments in the consumer industry and fluctuations in international gold prices [2] - Revenue from restaurant management and services fell by 30.06%, attributed to weak consumer growth [2] - The cosmetics segment experienced an 18.67% decline in revenue, impacted by regional conflicts affecting overseas business [2] - The resort segment's revenue dropped by 55.05%, mainly due to the disposal of the Hoshino Resort in Hokkaido, Japan [2] - Conversely, the property development and sales business saw a revenue increase of 55.05%, driven by the completion of various property projects [2] Network and Brand Overview - As of the end of Q3 2025, the company operated a total of 4,639 outlets, including 4,128 in jewelry fashion, 131 in restaurant management, and 30 in pharmaceuticals and wellness [2] - The jewelry fashion segment includes well-known brands such as "Laobiao" and "Yayi," with a total of 4,115 chain outlets, a reduction of 500 from the previous year [3] - Yuyuan Group has been listed on the Shanghai Stock Exchange since September 1992 and has a diverse business portfolio including gold jewelry sales, restaurant and pharmaceutical services, and real estate development [3] Stock Market Performance - The stock price of Yuyuan Group has been underperforming in recent years, closing at 5.56 yuan per share on October 31, 2025, reflecting a 75.91% decline from its peak ten years ago [5]

Core Points - The "2025 Shanghai Cultural Week" aims to promote cultural exchange among different ethnic groups through various activities [1] - The event features six main thematic sections, including a Shanghai Food Festival and a cultural exhibition between Shanghai and Kashgar [1][5] - The initiative emphasizes the importance of cultural connection and aims to strengthen ties between the people of Shanghai and Kashgar [7] Group 1: Event Overview - The cultural week opened on October 12 at the South Xinjiang Global Port in Kashgar and will last for one week [1][7] - Activities include a food festival showcasing representative dishes from 16 districts of Shanghai, allowing Kashgar residents to experience local flavors [3][5] - The event also includes a series of performances, forums, and exhibitions to highlight the unique charm of Shanghai culture and the deep connections between the two regions [1][5] Group 2: Thematic Sections - The Shanghai Food Festival features traditional dishes such as Nanxiang Xiaolongbao and Shengjianbao, aiming to enhance emotional connections through culinary experiences [3] - The Shanghai-Kashgar Cultural Exhibition includes three major displays: a photography exhibition showcasing achievements in various fields, a fashion exhibition merging local and Shanghai styles, and a showcase of intangible cultural heritage [3][5] - The event will host a week-long artistic performance series, including modern dance and popular music, alongside a forum discussing topics related to the Silk Road spirit and vocational education [5] Group 3: Cultural Exchange and Community Engagement - The immersive red culture exhibition utilizes modern technology to present Shanghai's red cultural resources, fostering cultural exchange and heritage transmission [5] - Interactive activities, including a parade featuring popular characters and a large dance competition, aim to create a festive atmosphere and encourage local participation [5][7] - The event is supported by various governmental bodies and aims to strengthen the emotional bonds between the people of Shanghai and Kashgar [7]

如果你在上海街头随机抓一个人访问：沪上五大古典园林是哪五个？不借助互联网查询，能答对的人少之又少。至于五大古典园林全去过的人，不要说上 海，放大到全国范围，可能都寥寥无几。毕竟，说到逛古典园林，大多数游客都会直奔苏杭。 此外，上海五大古典园林里，除了最出名的豫园坐落在黄浦区福佑路，其余四个全部散落分布在城市郊区，分别为秋霞圃、古猗园、曲水园、醉白池。其 中距离市中心最近的古猗园也有30公里左右的车程。这就造成了无论是游客还是上海本地人，都把这四个郊县园林给忽略掉了的局面。 △古猗园风光。（图/钱鸣 摄） 除了豫园，其他四个园林要么票价低廉，要么索性免票，成了附近居民的市民公园。但即便是其中票价最贵的豫园，也才旺季40元，淡季30元，并且针对 学生、老人还有优惠票。在动不动一个展览门票就上百、被网友们吐槽拥有"沪币"的上海，五大古典园林，算得上是难得的亲民宝藏目的地了。 01 从南北朝到近现代，上海的园林史并不简单 在游客的印象中，上海是霓虹璀璨的十里洋场，是百年近代史的缩影之城。旅游热度最高的无非是外滩、新天地、人民广场、安福路武康路等市中心知名 度极高的现代化场所。毕竟，论city不city，上海可是头一个 ...

Core Viewpoint - The publication "Chaxi Old Dream - The Old Travel Notes of Nanxiang" compiles hundreds of travel notes from a century ago, providing a vivid record of the social landscape, geographical environment, and cultural changes of that historical period [1][29]. Summary by Sections Historical Context - The travel notes reflect the unique social and cultural characteristics of the time, showcasing the development of modern transportation and its impact on travel [29][34]. - The opening of the Shanghai-Nanjing Railway significantly improved access to Nanxiang, making it a popular destination for tourists [32]. Description of Gardens - Nanxiang is renowned for its beautiful gardens, including Guyi Garden, Ge Garden, Nan Garden, and Huang Family Garden, each with distinct features [34][26]. - Guyi Garden is noted for its exquisite construction and unique bamboo and wood features, creating a serene atmosphere [4][6][26]. - Ge Garden is characterized by its lush flora and exquisite bonsai, providing a tranquil retreat for visitors [8][10][26]. - Nan Garden offers an open landscape with lush grass and pavilions, ideal for relaxation and enjoyment of nature [12][21][26]. - Huang Family Garden is the largest among the four, known for its rich tree cover and serene ambiance, though access is restricted [22][23][26]. Cultural Significance - The travel notes serve as historical documents, capturing the essence of Nanxiang's cultural heritage and the experiences of travelers during that era [29][39]. - The gardens not only served as leisure spots for the public but also as venues for literary and artistic expression among scholars and poets [34][41]. Conclusion - The book aims to rekindle interest in Nanxiang, encouraging readers to explore its rich history and cultural significance [41].