Core Insights - The event "2025 China Real Estate Brand Value Research Results Release Conference and the 22nd China Real Estate Brand Development Forum" was held in Beijing, where China Merchants Shekou was awarded the 4th place in the "2025 China Commercial Real Estate Company Brand Value TOP10" due to its strong comprehensive strength, outstanding operational capabilities, and excellent brand influence [1] Group 1: Brand Value Research - The China Real Estate TOP10 Research Group has conducted brand value research since 2004, focusing on the successful factors of outstanding real estate brands and exploring sustainable development paths for these brands [4] - The research results have garnered widespread attention and have played a significant role in enhancing brand image, accumulating brand assets, and strengthening industry positions for brand enterprises [4] Group 2: Business Strategy and Expansion - China Merchants Shekou focuses on the "X+ Commercial" concept to innovate commercial scenarios, targeting different functional characteristics and commercial needs of urban and living circles [6] - The company has over 80 commercial projects under management nationwide, with a total managed commercial area exceeding 5 million square meters and an annual business growth rate exceeding 30% [6] - Key city projects maintain a rental rate of over 97%, with customer satisfaction reaching 97.2% [6] Group 3: Product Lines and New Projects - In 2025, China Merchants Shekou will refresh its three major product lines: "China Merchants Garden City" focusing on "family-friendly spaces," "Sea World" as an "urban amusement park," and "China Merchants Garden" creating "non-standard characteristic streets" [8] - The company has opened several representative projects across various cities, including Shenzhen, Suzhou, Chongqing, and Nanjing, with new projects planned for cities like Hangzhou and Ningbo [8][10] Group 4: Office Space Development - The office business of China Merchants Shekou is enhancing resource synergy and actively creating specialized industry platforms [12] - By the end of 2024, the office business will cover over 10 cities, including major first-tier cities, with more than 40 operational, management, and service projects, managing over 2 million square meters [14] Group 5: Future Outlook - China Merchants Shekou aims to uphold "long-termism" to reshape the commercial ecosystem, practicing "sustainable genes" for benevolent business, and collaborating with partners to co-create commercial value [16]

Core Insights - In May 2025, the opening of nearly 50 centralized commercial projects was driven by the "May Day" Golden Week, marking the highest number of openings in the same period over the past three years [1][2] - The total commercial building area of these projects exceeded 3.68 million square meters, with a month-on-month increase of 4.5 times in quantity and 3.8 times in area compared to April 2025 [2] - The opening wave included innovative projects in urban renewal, "cultural tourism+" commercial spaces, "sports+" commercial spaces, and themed shopping malls, showcasing various creative elements [1][14] Group 1: Opening Statistics - A total of 49 centralized commercial projects opened in May 2025, with 25 projects opening on May 1 alone, accounting for over half of the month's total [2] - The number of new openings in May 2025 increased by 13.95% in quantity and 16.76% in area compared to May 2024 [2] - The distribution of new openings was concentrated in high-tier cities, with first-tier, quasi-first-tier, and second-tier cities accounting for 64% of the total openings [5][10] Group 2: Leading Cities and Projects - Beijing ranked first in the number of new openings with four projects, followed by Guangzhou with three [5] - Notable projects included the Nanjing Xuanwu China Merchants Garden City and the first Joy City in Jiangxi, among others [10][12] Group 3: Dominance of Chain Management Enterprises - Chain management enterprises played a significant role in the new openings, with nearly 30 projects managed by major players like China Resources, Wanda, Longfor, and JD MALL [10][11] - JD MALL accelerated its expansion with multiple openings in cities including Nanjing, Chengdu, and Beijing [10] Group 4: Urban Renewal and Cultural Integration - Seven urban renewal projects opened in May, primarily in first-tier cities, focusing on integrating local cultural DNA into commercial spaces [15][16] - Projects like Beijing Zhonghai Dajixiang and Guangzhou Huatingfang exemplified the trend of preserving historical elements while modernizing commercial offerings [15][19] Group 5: "Cultural Tourism+" and "Sports+" Trends - "Cultural tourism+" commercial spaces are evolving, with projects like Ningbo Qianwan Shengshi Li and Guangzhou Huatingfang emphasizing local culture and immersive experiences [24][25] - The "sports+" commercial trend is gaining traction, with projects like Nanjing Zijin Zhongai Li and Shenyang Global Port Dynamic City focusing on sports-themed environments [29][30] Group 6: 24-Hour Social Spaces - The concept of "24-hour social spaces" is emerging, with projects like Xiamen Hemei Tiandi and Lhasa Wangfujing Shopping Center catering to round-the-clock consumer needs [38][40] - These spaces aim to enhance night economy activities, providing diverse entertainment and dining options [40][41] Group 7: Thematic Shopping Malls - The rise of "two-dimensional" themed shopping malls is evident, with projects like Nanchang Yintai and Dalian Olympic Electronic City transforming existing spaces into vibrant cultural hubs [42] - These projects focus on attracting younger demographics through innovative themes and experiences [42]

招商蛇口副总经理刘晔表示，自2023年提出"X+商业"核心理念以来，公司持续探索，未来将从稳健发 展进一步转向质量深耕，为行业提供可复制的升级样本。 实际上，除了招商商管外，上海市的多个商场也开始迎合消费者需求加紧改造升级，包括长宁区的巴黎 春天·悦汇天山、浦东新区的世纪汇等在内的多个商场已完成或开启调改，吸引顾客消费。 需求结构性转向 随着销售额出现下滑，零售地产正在加速迭代业态。 仲量联行相关监测数据显示，中国21城优质零售地产市场商业项目首层租金同比下跌3.9%，跌幅有所 扩大。"一方面，品牌开始和业主在租金模式方面拉锯，以转嫁运营风险；另一方面，包括服饰在内的 时尚业态销售额下滑，导致商场的实际扣点收益进一步降低。"仲量联行方面分析认为。 中经记者杨让晨上海报道 随着"情绪价值"消费崛起，商业地产将加速改善。 据仲量联行数据，今年一季度，中国优质零售地产市场平均空置率出现上涨。其中，一季度末中国21城 优质零售地产市场平均空置率达到10.4%，较2024年年底上涨0.2个百分点。 "由于开发商对市场阶段性饱和带来的开发运营压力，一季度市场供应相对平静，少量项目推迟入市。 因此，市场基调由增量开发转向存 ...