Core Viewpoint - The opening of "Super Turn" marks a significant step in the multi-category strategy of the Turn Group, integrating resources from the acquisition of Hongbulin and aiming to establish a second-hand circular trust system [2][12][14]. Group 1: Store Overview - Super Turn occupies 3,000 square meters with over 30,000 SKUs across more than 200 categories, featuring a variety of second-hand luxury goods, clothing, and electronics [6][10]. - The store's design includes an industrial style with exposed structures and white-painted shelves, creating an immersive shopping experience [6][10]. - The absence of mobile phones and tablets in the inventory reflects a strategic decision to differentiate the brand from its past focus on electronics, emphasizing lifestyle products instead [8][10]. Group 2: User Experience and Market Positioning - User feedback on social media platforms highlights the store's appeal, with comments like "good to browse" and "suitable for people" contributing to its popularity [4][10]. - The store aims to attract more female customers and reshape brand perception by focusing on emotional value behind products rather than just functionality [10][16]. - The integration of online and offline sales allows for a seamless shopping experience, with users able to purchase items online while browsing in-store [18][20]. Group 3: Strategic Goals and Future Plans - The company aims to run all processes smoothly in the short term, with long-term goals of replicating the successful model across various categories to maximize efficiency [22]. - The acquisition of Hongbulin is crucial for enhancing supply chain capabilities and integrating strengths from both companies to create a robust second-hand luxury market [14][16]. - The company is actively addressing challenges such as long wait times and user experience improvements, indicating a commitment to customer satisfaction [22].

Core Viewpoint - The launch of the "Super Turn" second-hand store in Beijing marks a significant transformation for the company, aiming to enhance consumer trust and broaden the perception of second-hand goods beyond just mobile phones to a diverse range of categories [1][5][9] Group 1: Store Launch and Concept - The "Super Turn" store features 30,000 officially inspected second-hand items across over 200 categories, including luxury goods, gaming devices, and photography equipment, in a 3,000 square meter space [1][5] - The store's design emphasizes a hands-on experience, allowing consumers to physically interact with products, which is seen as more effective than viewing items online [4][5] Group 2: Strategic Transformation - The transition to "Super Turn" began with a strategic investment of $100 million in the second-hand luxury goods platform Hongbulin in November 2022, culminating in a full acquisition in early 2024 [5][7] - This integration provides a mature luxury goods supply chain and authentication capabilities, essential for the company's strategy to diversify its product offerings [5][7] Group 3: Market Potential and Operations - The domestic luxury goods market is valued at 4 trillion yuan, with only 5% of transactions occurring in the second-hand market, significantly lower than the 20%-30% seen in developed countries [7] - The operational model combines online and offline inventory, allowing real-time synchronization between a million online verified products and 30,000 in-store items, enhancing customer engagement [7] Group 4: Challenges and Future Directions - The company faces challenges in inventory management and brand perception, needing to convince consumers that it can reliably offer luxury items despite its origins in mobile phone sales [8] - Cost control is a significant concern, as the store is located in a historical area rather than a high-end shopping district, focusing on product quality and pricing rather than luxury decor [8] - The company is still exploring profitable business models for the physical store, acknowledging that the costs associated with offline operations are higher than online [8]