Core Viewpoint - Chengdu Tianfu Chenyue Real Estate Co., Ltd., a subsidiary of China Resources Land, successfully acquired four plots of state-owned construction land use rights through an auction held by the Chengdu Public Resource Trading Service Center [1][3]. Group 1: Land Acquisition Details - The auction involved four plots of land located in the Qingyang District, specifically in the Caijiao Street area, with areas of approximately 41.8 acres, 55.7 acres, 47 acres, and 57.2 acres [2][4]. - The first two plots are designated for Class II urban residential use, while the latter two are intended for commercial service use [2][4]. Group 2: Development Plans - For the commercial land, the company plans to develop a flagship commercial complex that aims to enhance consumer experiences in Qingyang, filling a gap in high-end commercial offerings [3][4]. - The residential plots are strategically located near the Caijiao Station of Metro Line 4 and the under-construction Metro Line 13, surrounded by established amenities and quality communities, positioning the project as part of the Dayuecheng Holdings residential series [3][4]. Group 3: Strategic Importance of Qingyang - The chosen location in Qingyang Aviation New City is adjacent to key innovation centers in high-end aviation equipment technology, indicating a strong industrial foundation and significant future development potential [4]. - The project is expected to unify planning for a large commercial complex and high-end residential areas, leveraging the inherent advantages of the district to enhance service offerings and create a high-quality living and working environment [4].

Core Insights - Chengdu Tianfu Chenyue Real Estate Co., Ltd., a subsidiary of COFCO Joy City, successfully acquired all four plots of state-owned land use rights through an auction held by the Chengdu Public Resource Trading Service Center [1][3] Group 1: Land Acquisition Details - The auction involved four plots of state-owned land located in the Caiqiao Street of Qingyang District, with areas of approximately 41.8 acres, 55.7 acres, 47 acres, and 57.2 acres respectively [3] - The first two plots are designated for Class II urban residential use, while the latter two are for commercial service use [3] Group 2: Project Development Plans - The project is situated in the Qingyang Aviation New City, adjacent to key innovation centers such as the National High-end Aviation Equipment Technology Innovation Center and the 611 Qingyang Aircraft Design Innovation Collaborative Center [4] - The land will be developed into a large-scale commercial complex and high-end residential projects, leveraging the Joy City brand's strong reputation and high traffic to fill the high-end commercial gap in Qingyang District [4] - The planning aims to enhance the service facilities and create a high-quality living and working environment in the Qingyang Aviation New City [4]

成都天府辰悦置业有限公司相关负责人在接受采访时表示，针对商业用地，将打造旗舰商业，引领青羊 消费升级。该商业综合体将承袭大悦城品牌在城市的超级口碑与TOP流量，依托成熟的运营经验，引入 一线品牌矩阵和特色业态组合，有效填补青羊区高端商业空白，焕新主城商业格局。在住宅用地方面， 两宗住宅用地位于光华西六路南侧，紧邻地铁4号线蔡桥站以及在建地铁13号线，周边配套完善，品质 社区林立，居住氛围成熟，项目定位为大悦城控股住宅壹号系列。作为片区内新规后首个地块，成都天 府辰悦置业有限公司将依托"主动健康，场景生活"的好房子产品理念，为项目注入高品质基因，在寸土 寸金的青羊区打造迭新人居标准的标杆。 为何选择落子青羊区？该负责人坦言，本次获取的项目位于青羊航空新城，紧邻国家高端航空装备技术 创新中心、611·青羊飞行器设计创新协同中心等。青羊航空新城有以航空科技为核心的坚实产业基础， 包括高端航空装备、卫星互联网、工业软件、航空通信、航空新材料等产业，未来发展潜力巨大。"地 块将统一规划为涵盖大型商业综合体与高端住宅的航母级项目，依托板块先天优势，通过高端商业的规 划补缺，助力青羊航空新城完善服务配套、打造高品质宜居宜业 ...

Core Viewpoint - The integration of environmental protection and pop culture in the Duyue City shopping complex has transformed waste sorting into a trendy activity for young people, creating an efficient resource recycling system [3][4]. Group 1: Waste Sorting and Recycling System - Duyue City has established a comprehensive resource recycling system with strategically placed waste sorting bins and a well-designed recycling station, enhancing convenience for consumers [3][4]. - The waste processing flow includes source sorting by merchants, initial collection at stations, and machine compression, significantly improving efficiency and reducing costs [4]. - From January to July 2025, Duyue City achieved a 23.14% reduction in other waste and a recycling volume of 223,000 kilograms, showcasing the effectiveness of their waste management approach [4]. Group 2: Cultural Integration and Engagement - The recycling stations have been creatively redesigned with popular anime themes, transforming them into attractive spots for social media engagement among young visitors [4]. - A dual-track approach of centralized training and on-site advocacy is employed to educate merchants, employees, and consumers about waste sorting, fostering a strong awareness of recycling [5][6]. - The initiative involves collaboration among various stakeholders, including government, environmental organizations, merchants, and consumers, making environmental responsibility a collective effort [6].

Core Viewpoint - Dalian Wanda Commercial Properties (00207.HK) is planning to privatize and delist from the Hong Kong Stock Exchange, with a proposed share buyback at a maximum cash consideration of HKD 29.32 billion, following a two-week trading suspension [1][3]. Group 1: Privatization Plan - The company aims to simplify its governance structure and improve decision-making efficiency by privatizing, as the current structure complicates governance and hinders decision-making [5][6]. - The buyback price of HKD 0.62 per share represents a premium of 67.57% over the last closing price and significantly higher premiums over the average prices of the previous trading days [5][6]. - The privatization is expected to enhance the parent company's equity in Dalian Wanda Commercial Properties, potentially improving its net profit [3][6]. Group 2: Background and Structure - Dalian Wanda Commercial Properties is a subsidiary of COFCO Group, which has a unique "A-share controlled red chip" structure, with COFCO holding 64.18% of the shares prior to the buyback [1][2]. - The company has undergone significant restructuring in the past, including a merger with COFCO's real estate arm in 2019, which aimed to consolidate its real estate operations [2][3]. Group 3: Financial Performance - Dalian Wanda Commercial Properties has faced financial challenges, with significant losses reported over the past three years, totaling over HKD 70 billion [8][9]. - The company’s revenue from property sales remains its primary income source, accounting for 79.31% of total revenue, while investment properties contribute 14.65% [9]. - Despite recent losses, the company projects a return to profitability by mid-2025, with expected net profits ranging from HKD 0.80 billion to HKD 1.20 billion [9].