Group 1 - Wangfujing Group has established a "421" strategic framework over its 70 years of development, focusing on four decades of foundation, two decades of chain expansion, and ten years of innovation [1] - The company transitioned from a single-store model to nationwide chain expansion from 1995 to 2015, and has since entered a phase of multi-format collaborative development, emphasizing outlet and shopping center formats [1] - The acquisition of a duty-free license in 2020 has allowed Wangfujing to implement a dual-driven strategy of "taxable + duty-free," marking a new phase of high-quality and composite development [1] Group 2 - In the outlet format, the "Wangfujing Bayli WELL TOWN" project is a flagship initiative with a current leasing progress of 95% [1] - The company has opened several benchmark projects in key cities such as Beijing, Foshan, Suzhou, Lhasa, and Linfen, with "Wangfujing Joy" positioned as a cultural landmark to meet the social and experiential needs of younger consumers [1] - Wangfujing Group is leveraging policy opportunities from the construction of Beijing's two zones, the international consumption center, and the Hainan Free Trade Port to expand its duty-free business into important markets like Harbin, Wuhan, and Changsha [2] Group 3 - The company is actively upgrading its existing properties, revitalizing older stores like the Friendship Store, which has transformed from a long-declining asset into a new consumer hotspot for young people [2] - The Xi'an Yongning store has been developed into a 24-hour multi-dimensional ecological attraction, while the Chang'an Shopping Mall has deepened its community center positioning, and the Shuang'an Shopping Mall has transitioned into a "quality community living space," all achieving significant results [2]