Core Viewpoint - The logistics industry in China is experiencing an upward trend in business volume and overall prosperity, with the logistics prosperity index reaching 50.8% in June, an increase of 0.2 percentage points from the previous month [1] Industry Performance - The total business volume index has remained in the expansion zone for four consecutive months this year [1] - The central and western regions of China have business volume indices that exceed the national average [1] - Various sectors, including road transport, rail transport, air transport, and postal express, are all showing indices within the expansion range [1] Specific Sector Insights - The postal express and air transport sectors have particularly strong performance, with business volume indices of 69.3% and 52% respectively, driven by online shopping and seasonal demand for fresh cold chain products [1] - Seasonal characteristics are evident in logistics development for June, with increased coal transport demand due to summer peak seasons, and a rise in orders for home appliances and 3C products driven by trade-in programs [1] - The summer travel season is boosting demand in tourism, e-commerce, and outdoor products, with data indicating a recovery in demand across rail transport, road transport, and e-commerce express sectors [1]

6月19日晚间，苏宁易购集团股份有限公司（ST易购，002024.SZ）发布的一则公告显示，苏宁易购全资子公司苏宁国际之控股子公司荷兰家乐福 (中国) 控股有限公司，以令人咋舌的价格——合计4元，将宁波家乐福商业有限公司、杭州家乐福超市有限公司、株洲家乐福商业有限公司、沈阳家乐福商业有 限公司这4家子公司100%的股权出售给上海有安法律咨询有限公司（代上海家福启纾企业服务合伙企业）。 2002 - 2006年期间，家乐福大卖场数量从35家迅速增至100家，扩张速度惊人。 这一近乎"免费赠送"的交易背后，是家乐福在中国市场的兴衰沉浮，更是苏宁易购在困境中艰难转型的无奈之举 。 家乐福入华：开创大卖场辉煌时代 1995年，家乐福作为外资商超的先驱踏入中国大陆市场，彼时的中国零售市场，百货业仍以传统柜台式经营为主。 家乐福带来的"大卖场"业态，让中国消费者和零售者眼前一亮。其创新的商业模式，即买断供货商商品再行售卖，并积极帮助消费者压价，极大地迎合了 当时消费者追求性价比的心理，迅速在市场中站稳脚跟。 次年，中国百货业陷入发展低谷，家乐福却凭借独特的经营模式和先发优势，开启逆势扩张之路。 到1999年，家乐福已在全 ...

Core Viewpoint - Suning.com is focusing on its core home appliance and 3C business while actively reducing its debt burden through asset sales and restructuring efforts [2][3][6]. Group 1: Asset Sale and Debt Reduction - On June 20, Suning.com announced the sale of 100% equity in four Carrefour subsidiaries for a total consideration of 4 RMB, as these subsidiaries have ceased operations and carry significant debt [4][6]. - The sale is expected to alleviate the company's debt burden and improve operational performance, with an estimated increase in net profit of approximately 572 million RMB post-transaction [7]. - The total assets and liabilities of the sold subsidiaries are as follows: Ningbo Carrefour has assets of 15.6251 million RMB and liabilities of 16.2 million RMB; Hangzhou Carrefour has assets of 5.0709 million RMB and liabilities of 43.8 million RMB; Zhuzhou Carrefour has assets of 14.2871 million RMB and liabilities of 10.7 million RMB; Shenyang Carrefour has assets of 363 million RMB and liabilities of 1.061 billion RMB [6]. Group 2: Financial Performance - As of Q1 2025, Suning.com reported a debt ratio of 90.38%, showing a gradual decline from previous periods [3][11]. - The company has experienced significant revenue declines from 2020 to 2023, with revenues of 252.296 billion RMB in 2020, dropping to 62.627 billion RMB in 2023, and a cumulative loss of 67.85 billion RMB over four years [8]. - In 2024, Suning.com achieved a revenue of 56.791 billion RMB, a decrease of 9.32% year-on-year, but net profit increased by 114.93% to 611 million RMB [9]. - For Q1 2025, the company reported a revenue of 12.894 billion RMB, a year-on-year increase of 2.50%, and a net profit of 17.96 million RMB, up 118.54% [10]. Group 3: Strategic Focus - Suning.com is committed to streamlining its non-core business units and focusing on its core home appliance and 3C sectors to further reduce debt levels [7][11]. - The company has also engaged in debt restructuring agreements, resulting in a debt reduction of 5.02 billion RMB, leaving a remaining payable amount of 5 million RMB [11].

Core Viewpoint - Suning.com is divesting its stake in four Carrefour stores for a nominal price of 4 RMB, highlighting the challenges faced in the retail sector and the company's shift back to its core business of home appliances [2][4][6]. Group 1: Transaction Details - Suning.com announced the sale of 100% equity in Carrefour stores in Ningbo, Hangzhou, Zhuzhou, and Shenyang for 1 RMB each, resulting in these stores being excluded from its consolidated financial statements [2][3]. - The buyer is a newly established company, Shanghai Jiafu Qishi Enterprise Service Partnership, which is controlled by Youan Law Firm and is involved in debt restructuring [3][4]. Group 2: Financial Context - The four Carrefour stores have accumulated a total debt of approximately 1.76 billion RMB, with individual debts of 162 million RMB for Ningbo, 438 million RMB for Hangzhou, 100 million RMB for Zhuzhou, and over 1.06 billion RMB for Shenyang [4]. - As of the end of Q1 2023, these Carrefour stores had ceased operations and were classified as untrustworthy debtors [4]. Group 3: Strategic Shift - Suning.com is refocusing on its core business of home appliances and is streamlining non-core business units, which includes the divestiture of Carrefour [6][9]. - The company had previously acquired an 80% stake in Carrefour China for 4.8 billion RMB in 2019, but the retail environment has since deteriorated, leading to significant operational challenges [6][7]. Group 4: Market Performance - In 2023, only four Carrefour stores remain operational in China, indicating a drastic reduction from the 210 stores at the time of acquisition [5][6]. - Suning.com reported a revenue of 567.91 billion RMB in the previous year, with a net profit of 6.12 billion RMB, marking its first annual profit since 2020 [9][10]. Group 5: Industry Challenges - The retail sector, particularly supermarkets, is facing significant pressure due to changing consumer behaviors and external market conditions [4][6]. - Analysts suggest that the operational models of home appliances and supermarkets conflict, complicating Suning's expansion into unfamiliar retail sectors [7][10].

4元人民币，出售4家家乐福子公司？ 宁易购集团股份有限公司公告截图 苏 苏宁易购集团股份有限公司表示，当前公司坚定聚焦家电3C核心业务，上述4家家乐福子公司均已停止经营，债务负担较重，本次交易有助于减 轻上市公司债务负担，改善公司经营业绩，降低企业经营和管理风险。 6月19日晚间，苏宁易购集团股份有限公司公告，公司全资子公司旗下的控股子公司荷兰家乐福（中国）控股有限公司（简称"荷兰家乐福"）， 与上海有安法律咨询有限公司（简称"有安法务"）签订了《股权转让协议》。 根据该协议，荷兰家乐福将以1元（人民币，下同）对价出售持有的宁波家乐福商业有限公司（简称"宁波家乐福"）、杭州家乐福超市有限公司 （简称"杭州家乐福"）、株洲家乐福商业有限公司（简称"株洲家乐福"）、沈阳家乐福商业有限公司（简称"沈阳家乐福"）100%股权，交易标 的合计出售金额为4元。 宁易购集团股份有限公司公告截图 据公告，本次交易不构成关联交易，亦不构成重大资产重组。转让完成后，目标公司将不再纳入公司合并报表范围，预计本次交易合计增加上 市公司归母净利润约5.72亿元。 苏 宁易购集团股份有限公司公告截图 苏 具体来看，本次交易的卖方是苏宁易 ...

4元人民币，出售4家家乐福子公司？ 推进非主营业务单元"精简瘦身" 具体来看，本次交易的卖方是ST易购全资子公司Suning International GroupCo., Limited（简称"苏宁国 际"）的控股子公司Carrefour China Holdings N.V.（荷兰家乐福）。 本次交易的买方是上海家福启纾企业服务合伙企业（有限合伙），目前正在办理名称核准以及相关设立 法定程序。该合伙企业由有安法务拟实控并作为普通合伙人，联合有限合伙人上海厚有安资产管理有限 公司、昆朋资产管理股份有限公司设立。其中，有安法务拟持有该合伙企业份额比例约6.25%。 6月19日晚间，ST易购（002024）公告，公司全资子公司旗下的控股子公司荷兰家乐福（中国）控股有 限公司（简称"荷兰家乐福"），与上海有安法律咨询有限公司（简称"有安法务"）签订了《股权转让协 议》。 根据该协议，荷兰家乐福将以1元（人民币，下同）对价出售持有的宁波家乐福商业有限公司（简称"宁 波家乐福"）、杭州家乐福超市有限公司（简称"杭州家乐福"）、株洲家乐福商业有限公司（简称"株洲 家乐福"）、沈阳家乐福商业有限公司（简称"沈阳家乐福"） ...

本次交易受让方上海家福启纾，由上海有安法律咨询有限公司(简称"有安法务")拟实控，并作为普通合 伙人，联合有限合伙人上海厚有安资产管理有限公司(简称"厚有安资管")、联合昆朋资产管理股份有限 公司(简称"昆朋资管")设立，其中普通合伙人有安法务拟持有该合伙企业份额比例约6.25%，有限合伙 人昆朋资管持有该合伙企业份额比例约62.5%，有限合伙人厚有安资管拟持有该合伙企业份额比例约 31.25%。截至公告日，上海家福启纾正在办理名称核准以及相关设立法定程序，该合伙企业的具体名 称及有限合伙人名单等以完成法定设立程序时在市场监督管理部门的登记为准。 就本次出售资产，ST易购表示，当前公司坚定聚焦家电3C核心业务，持续推进非主营业务单元的精简 瘦身工作，将多措并举进一步降低企业债务水平，持续化解公司债务负担。 据了解，家乐福中国业务受外部环境及消费行为转变影响，叠加自身流动性不足，加之公司因自身流动 性问题无法为家乐福提供持续的资金支持，自2023年起逐步关停传统家乐福大型商超业务。 ST易购表示，上述4家家乐福子公司均已停止经营，债务负担较重，通过本次交易，引入有丰富经验的 专业资管机构，发挥其资源优势，能够有 ...

公司 1Q2025 营收同比增长 15.8%，Non-GAAP 归母净利润同比增长 43.4% 公司公布 1Q2025 业绩：1Q2025 实现营业收入 3010.8 亿元，同比增长 15.8%，实现 GAAP 归母净利润 108.9 亿元，同比增长 52.7%，实现 Non-GAAP 口径下归母净利润 127.6 亿元，同比增长 43.4%。 收入增长全线加速，推出出口转内销计划 得益于消费刺激政策以及公司平台生态的持续完善，公司各业务条线收入同 比增速环比 4Q2024 均有加速。商品收入方面，公司 1Q2025 整体商品收入 2423.1 亿元，同比增长 16.2%；其中家电 3C 类收入 1443.0 亿元，同比增 长 17.1%，公司在 1Q2025 与小米等数码产品品牌全面深化战略合作，打造 更智慧化、多元化的产品与更优质的购买与服务体验；日用百货类收入 980.1 亿元，同比增长 14.9%，公司在 1Q2025 线上首发莱珀妮、Crocs、Massimo Dutti 等多家时尚品牌新品，发挥平台优势。 2025 年 5 月 14 日 公司研究 收入加速增长，关注外卖业务投入 ——京东集团-SW ...

本报讯(记者曹卫新)5月9日，苏宁易购集团股份有限公司(以下简称"苏宁易购")召开"618"电商启动会， 宣布即将开启"618万人空巷抢家电"年中大促。活动节奏方面，苏宁易购线下将于5月13日开启提前抢， 线上将在5月13日晚8点开启百亿元补贴提前抢。 据悉，为满足消费者对家电3C产品(计算机类、通信类和消费类电子产品三者的统称)升级需 求，"618"期间，苏宁易购将联合海尔、海信、美的、格力、老板、方太、三星、TCL、卡萨帝、 COLMO、松下、西门子、博世等头部品牌发布和推广家电新品，打造超1000款家电爆品，超百款产品 刷新行业底价。同时，公司还将加大洗烘套、洗碗机、折叠屏手机等新趋势家电3C的投放和推广力 度，通过政府、工厂、银行、平台四重补贴降低消费者购买门槛。 苏宁易购相关负责人表示，公司将以"618"为契机，携手生态合作伙伴双线发力，提升产品力、价格 力、场景力、服务力，让消费者"买得痛快，用得省心"，助力年中消费潜力加速释放。 据介绍，"618"期间，苏宁易购将双线加码补贴力度。在线下，消费者可享家电预存翻倍、跨品类套购 满减、以旧换新补贴等多重让利。在线上渠道，苏宁易购还可享受跨店满减、百亿 ...

5月1日一放假，生活在北京的王喆（化名）就要带着孩子与好友一家结伴踏上前往广西的旅程。两个家 庭的孩子都还在上幼儿园，王喆把行程安排得比较宽松，"我们特地预订了一个一价全包式的亲子酒 店，还有托管服务，这样大人和小孩都能玩得尽兴。" "五一"假期是文旅消费的黄金时期。世界旅游及旅行理事会（WTTC）预测，"五一"假期5天将有望创 造全年3%的旅游收入。另据同程旅行发布的《2025年"五一"旅游趋势洞察报告》，2025年"五一"假期 的旅行热度或将达到2023年以来"五一"假期峰值，市场将呈现供需两旺、品质休闲度假趋势走强的特 征。 作为提振消费、激活消费潜力的一次重要窗口期，从中央到地方，围绕政策扶持、活动开展、服务优 化、产品创新、便民惠民等方面多维度发力，进一步释放"五一"假期消费市场活力。 4月29日，文化和旅游部对外发布《关于组织开展2025年全国文化和旅游消费促进活动的通知》（以下 简称《通知》），《通知》提出开展主题促消费活动，举办全国"五一"文化和旅游消费周等，联动各地 及支持单位推出形式多样、内容丰富的消费促进活动。 北京、云南、福建等地也因地制宜推出各具特色的专题活动，以多元创新开启"五一" ...