Core Insights - New City Holdings (601155) demonstrates counter-cyclical growth amidst deep adjustments in the commercial real estate sector, indicating a profound change in its business operation logic [1] - The company introduced the "Wuyue Management Five-Step Method" and the "Yuelian Plan" during its annual conference, signaling a strategic shift from scale expansion to quality symbiosis [1][3] Industry Trends - The annual conference featured key insights from industry leaders, highlighting the need for commercial real estate to accurately grasp consumer demand changes amid a backdrop of consumption upgrading and segmentation [2] - Data analysis presented at the conference indicated that leading commercial operators have seen rental fee scales grow, with rental growth rates outpacing market expectations [2] Company Performance - In the first half of the year, New City Holdings achieved a total commercial operating revenue of 6.944 billion yuan, marking an 11.8% year-on-year increase [3] - The gross profit from property leasing and management reached 4.573 billion yuan, increasing its share of total gross profit from 57.21% to 77.06% compared to the same period last year, underscoring the commercial segment's role as a vital profit pillar [3] Strategic Initiatives - The "Wuyue Management Five-Step Method" focuses on five dimensions: building good spaces, organizing content, finding brands, increasing sales, and sharing profits, systematically constructing New City's operational framework [4] - The company has invested 400 million yuan in 88 projects for space renovation and quality enhancement, emphasizing the importance of quality space experiences for consumer retention and brand empowerment [5] New Business Models - The "Yuelian Plan" aims to create a sustainable resource connection and value co-creation platform by selecting quality brands and core agents, shifting from one-way recruitment to a three-way win model [5][6] - The first phase of the "Yuelian Plan" will involve the careful selection of 10 certified brands and 80 core agents, reflecting a focus on partnership quality rather than quantity [6] Future Growth Strategies - New City Holdings has established a presence in 141 cities with 205 integrated projects, with 175 already opened, covering over 16 million square meters [7] - The company is transitioning from a focus on scale growth to quality symbiosis, with plans for further refinement in residential and commercial operations [8] Regional Development - The launch of the "Gold Standard Wuyue Plaza" in Changzhou marks a significant step in enhancing commercial quality, with high foot traffic and sales figures reported shortly after opening [8] - Regional deepening strategies, such as the introduction of new Wuyue Plazas in Shandong, are expected to drive future growth through scale effects and brand synergy [9]

Core Viewpoint - New City Holdings is focusing on enhancing commercial operations and building a collaborative ecosystem through its "Wuyue Management Five-Step Method" and the "Yuelian Plan" to adapt to the challenges in the commercial real estate sector [1][4][6]. Group 1: Wuyue Management Five-Step Method - The "Wuyue Management Five-Step Method" emphasizes refined and professional operations in commercial real estate, consisting of "Build Good Space, Organize Content, Find Brands, Achieve High Sales, Share Profits" [2][3]. - "Build Good Space" focuses on creating quality spatial experiences, supported by a comprehensive inspection system that includes five key areas: promotion, operations, engineering, property management, and safety [2]. - "Organize Content" utilizes scientific analysis to guide project planning, ensuring a structured approach to brand placement and operational efficiency [2]. - The "Find Brands" strategy involves a high-quality recruitment team and a comprehensive brand database to streamline the leasing process [2][3]. - The "Achieve High Sales" initiative introduces the "V8 Model" to enhance sales performance across brands, while "Share Profits" promotes a positive feedback loop between sales growth and marketing investments [3]. Group 2: Yuelian Plan - The "Yuelian Plan" aims to create a sustainable ecosystem by collaborating with high-quality brands and core agents, establishing a platform for resource sharing and value co-creation [4][5]. - The plan shifts from traditional one-way recruitment to a three-way win model, linking premium brands with capable agents to optimize resource allocation [4]. - The initiative reflects New City Holdings' transition from "scale growth" to "quality co-existence," aligning operational goals with partners to enhance the vitality of commercial content [4][6]. Group 3: Business Performance and Growth - New City Holdings reported a total commercial operation revenue of 6.944 billion yuan in the first half of the year, marking an 11.8% year-on-year increase [6]. - The gross profit from property leasing and management reached 4.573 billion yuan, contributing 77.06% to the company's total gross profit, up from 57.21% in the previous year [6]. - The company has established a presence in 141 cities with 205 integrated projects, maintaining a high occupancy rate of 97.81% across its Wuyue Plaza locations [6][7].

Group 1 - The core theme of the annual conference is "Two-way Pursuit, Co-drawing Happiness," aimed at enhancing industry chain collaboration and resource integration capabilities [1] - The company introduced the "Five Steps of Wuyue Management," which includes building space, organizing content, finding brands, increasing sales, and sharing profits, to systematically improve operational efficiency [2] - The "Yuelian Plan" was launched to create a resource symbiosis platform, emphasizing a win-win and link model among agents, Wuyue, and brands [3] Group 2 - In the first half of 2025, the company's commercial operations revenue reached 6.944 billion, a year-on-year increase of 11.8%, with a gross profit margin of 71.20% [4] - The company has established 205 comprehensive projects in 141 cities, with a total opening area of 16.0814 million square meters and an average occupancy rate of 97.81% [4] - The introduction of the "Five Steps of Wuyue Management" and the "Yuelian Plan" reflects the company's strategic focus on deepening commercial operations and enhancing ecological collaboration [4]

Core Insights - The event held by Xincheng Holdings focused on collaboration and opportunities in the commercial sector, introducing the "Yuyue Management Five-Step Method" to enhance operational strategies [2][3] - The newly launched "Yuelian Plan" aims to create an open and symbiotic commercial ecosystem by partnering with quality brands and agents across the country [2][6] Group 1: Yuyue Management Five-Step Method - The five-step method includes "Build Good Space," "Group Content," "Find Brands," "Increase Sales," and "Share Profits," emphasizing refined and professional commercial operations [3][5] - A significant investment of 400 million yuan has been made this year for space renovation and quality improvement across 88 projects [3][4] - The method aims to standardize management and enhance the quality of commercial spaces, ensuring a better experience for consumers [3][5] Group 2: Yuelian Plan - The Yuelian Plan seeks to establish a sustainable resource connection and value co-creation platform by selecting top brands and core agents [6][7] - It transforms traditional one-way recruitment into a three-way win model, linking quality brands with capable agents [6][7] - The first phase will involve selecting 10 certified brands and 80 strong agents to ensure high-quality collaboration [6][7] Group 3: Financial Performance - In the first half of the year, Xincheng Holdings achieved a total commercial operation revenue of 6.944 billion yuan, marking an 11.8% year-on-year increase [7] - The gross profit from property leasing and management reached 4.573 billion yuan, with its contribution to total gross profit rising from 57.21% to 77.06% [7] - The gross profit margin reached 71.20%, showcasing the company's resilience and leadership in the commercial sector [7]

Core Insights - The core theme of the event was "Two-way Efforts, Co-creating Happiness," focusing on collaboration and resource linkage within the industry [1][6] - The company introduced the "Five-Step Management Method" for its commercial operations, emphasizing refined and professional management practices [2][3] Group 1: Event Overview - The 2025 Eighth Commercial Annual Conference and the First "Yue Chain Plan" Partner Conference were held in Shanghai, attended by the chairman and thousands of partners [1] - The event aimed to gather industry forces and seize cooperation opportunities, marking a strategic shift towards resource integration and value enhancement [1][4] Group 2: Five-Step Management Method - The "Five-Step Management Method" includes: "Build Good Spaces," "Group Content," "Find Brands," "Increase Sales," and "Share Profits," focusing on refined and professional commercial operations [2][3] - The company has invested 400 million yuan in 88 projects for space renovation and quality improvement this year [2] - The method aims to transform qualitative management into quantitative results, enhancing operational efficiency and accountability [3][6] Group 3: Yue Chain Plan - The "Yue Chain Plan" was launched to create an open and symbiotic commercial ecosystem by collaborating with high-quality brands and agents nationwide [1][4] - The plan emphasizes a three-way win model, linking brands, agents, and the company to foster trust and sustainable resource connections [4][5] - The first phase of the plan will select 10 certified brands and 80 core agents to ensure quality collaboration [5] Group 4: Business Performance - In the first half of the year, the company achieved a total commercial operating revenue of 6.944 billion yuan, a year-on-year increase of 11.8% [6] - The gross profit from property leasing and management reached 4.573 billion yuan, with a gross profit margin of 71.20%, indicating strong operational resilience [6] - The company has established 205 integrated projects across 141 cities, with a stable occupancy rate of 97.81% for its shopping centers [6][7]

Core Insights - The core theme of the event was "Two-way Efforts, Co-creating Happiness," focusing on collaboration and resource linkage within the industry [1][8] - The company introduced the "Five-Step Management Method" for its commercial operations, emphasizing refined and professional management practices [2][3] Group 1: Event Overview - The 2025 Eighth Commercial Annual Conference and the First "Yue Chain Plan" Partner Conference were held in Shanghai, attended by the chairman and thousands of partners [1] - The event aimed to gather industry forces and seize cooperation opportunities to advance the industry [1] Group 2: Five-Step Management Method - The "Five-Step Management Method" includes: building quality spaces, organizing content, finding brands, increasing sales, and sharing profits [2][3] - The company has invested 400 million yuan in 88 projects for space renovation and quality enhancement this year [2] Group 3: Strategic Initiatives - The "Yue Chain Plan" was launched to create an open and symbiotic commercial ecosystem by collaborating with high-quality brands and agents nationwide [1][5] - The plan aims to transform traditional one-way leasing into a three-way win model, linking brands, agents, and the company [5][6] Group 4: Financial Performance - In the first half of the year, the company achieved a total commercial operating revenue of 6.944 billion yuan, a year-on-year increase of 11.8% [7] - The gross profit from property leasing and management reached 4.573 billion yuan, with a gross profit margin of 71.20% [7] Group 5: Future Outlook - The company plans to expand its high-end commercial flagship projects in key urban areas, using the upgraded Changzhou Wujin Wuyue Plaza as a benchmark [8] - The focus has shifted from scale growth to quality co-creation, aligning with the operational goals of partner brands and investment capabilities [6]

Core Insights - The event held by New城控股 focused on collaboration and resource integration within the commercial real estate sector, emphasizing the theme "Two-way Journey, Co-creating Happiness" [1] - The company introduced the "Five Steps of Wuyue Management," which aims to enhance operational efficiency and competitive advantage in the face of market challenges [2][3] - The launch of the "Yuelian Plan" signifies a shift towards creating a collaborative ecosystem among high-quality brands and agents, moving from "space operation" to "ecological collaboration" [1][4] Group 1: Wuyue Management Five Steps - The "Five Steps of Wuyue Management" includes: "Build Good Space," "Group Content," "Find Brands," "Achieve High Sales," and "Share Profits," focusing on refined and professional operations [2][3] - "Build Good Space" emphasizes creating quality experiences for consumers, supported by a comprehensive inspection system and a significant investment of 400 million yuan in 88 projects for space upgrades this year [2] - "Group Content" utilizes internal tools and scientific analysis to ensure effective project planning and brand placement, aiming to eliminate mismatched content [2] Group 2: Sales and Profit Sharing - The "Achieve High Sales" step introduces the "V8 Model," which provides brands with a sales performance evaluation tool, with a commitment to maintain marketing expenses annually [3] - The "Share Profits" step promotes a joint profit-sharing model, reinforcing the focus on sales performance and creating a positive feedback loop for marketing investments and brand incentives [3] - The company aims to align the operational goals of partner brands and investment capabilities, enhancing the overall vitality of the Wuyue commercial content [5] Group 3: Yuelian Plan and Ecosystem - The "Yuelian Plan" aims to create a sustainable resource connection platform by selecting ten compatible brands and eighty strong agents, focusing on mutual trust and efficiency [5][4] - The plan transforms traditional "one-way leasing" into a "three-way win" model, linking high-potential brands with capable agents to facilitate resource matching [4] - The vision of the Yuelian Plan is to establish a collaborative ecosystem among agents, Wuyue, and brands, fostering a sustainable strategic partnership [4] Group 4: Business Performance and Growth - New城控股 reported a total commercial operating revenue of 6.944 billion yuan in the first half of the year, reflecting an 11.8% year-on-year growth [6] - The gross profit from property leasing and management reached 4.573 billion yuan, increasing its contribution to total gross profit from 57.21% to 77.06% [6] - The company has established a presence in 141 cities with 205 integrated projects, maintaining a high occupancy rate of 97.81% for Wuyue Plaza, showcasing its operational efficiency [6][7]

Core Insights - The event held by New城控股 focused on collaboration and resource integration within the commercial real estate sector, emphasizing the theme "Two-way Journey, Co-drawing Happiness" [1][8] - The company introduced the "Five-Step Management Method" for its commercial operations, highlighting its commitment to refined and professional management practices [2][4] - The launch of the "Yue Chain Plan" aims to create a sustainable ecosystem by partnering with high-quality brands and agents across the country, transitioning from "space operation" to "ecological collaboration" [1][5][6] Group 1: Five-Step Management Method - The "Five-Step Management Method" includes building quality spaces, organizing content, identifying brands, enhancing sales, and sharing profits, focusing on refined and professional operations [2][3] - The first step, "Building Quality Spaces," emphasizes the importance of creating appealing environments for consumers, supported by a comprehensive inspection system [2][3] - The second step, "Organizing Content," utilizes scientific analysis to ensure appropriate brand placement and operational efficiency [3] Group 2: Yue Chain Plan - The "Yue Chain Plan" aims to establish a three-way win model between agents, brands, and New城控股, fostering a collaborative commercial real estate environment [5][6] - The plan will initially select 10 compatible brands and 80 capable agents to ensure high-quality partnerships and operational success [6] - The initiative reflects a shift from focusing solely on growth metrics to prioritizing quality and mutual benefits among partners [6][7] Group 3: Business Performance - New城控股's commercial operations generated a total revenue of 6.944 billion yuan in the first half of the year, marking an 11.8% year-on-year increase [7] - The gross profit from property leasing and management reached 4.573 billion yuan, contributing to 77.06% of the company's total gross profit, up from 57.21% in the previous year [7] - The company has established a presence in 141 cities with 205 integrated projects, maintaining a high occupancy rate of 97.81% across its 吾悦广场 locations [7][8]