Core Viewpoint - China Jinmao is focusing on deepening its second growth curve as a core strategic direction, emphasizing high-quality asset management and sustainable growth through its premium holding business [1][15]. Group 1: Business Expansion and Strategy - The company has expanded its holding business to 80 operational projects, covering approximately 3.6 million square meters, with a total holding scale nearing 6 million square meters when including in-progress and planned projects [2]. - China Jinmao is strategically positioned in key cities such as Beijing, Shanghai, Guangzhou, and Shenzhen, creating a diversified portfolio that includes office buildings, hotels, and commercial spaces [2]. - The launch of benchmark projects like Beijing You'anfu Long-term Rental Apartments and Qingdao Oriental Eden Park in 2025 will enhance the company's competitive advantage in the commercial asset sector [1][2]. Group 2: Project Highlights - The "Fengmaoli" community commercial brand has successfully opened in cities like Suzhou and Changsha, achieving a 100% occupancy rate at its recent launch, marking a high point for commercial project openings in Changshu [2]. - The Oriental Eden Park, which opened on June 28, is Asia's first ecological IP park focused on water, featuring four themed venues aimed at educating the public about water conservation [4]. - The company is also developing the "Canal 1958" commercial street in Danyang, which integrates commerce, industry, and ecology, set to open by the end of December [5][7]. Group 3: Operational Excellence and Future Plans - China Jinmao ranks 14th in the operational income ranking of domestic real estate companies, showcasing its strong operational capabilities beyond residential development [4]. - The company is committed to enhancing its asset management capabilities through a full-cycle operational approach, which includes investment, financing, construction, management, and exit strategies [15]. - Future projects in cities like Hangzhou, Wuhan, and Shanghai are being planned to further expand the company's commercial footprint and diversify its asset portfolio [9][12][14].

Core Viewpoint - The article highlights the rapid expansion of theme parks in China, particularly during the summer of 2025, driven by a focus on family-oriented entertainment and the recovery of the "happy economy" post-pandemic [2]. Group 1: New Theme Parks Opening - Shanghai LEGO Land officially opened on July 5, 2025, becoming the largest LEGO park globally and the first in China, featuring eight themed areas and over 75 interactive attractions [3][5]. - In addition to Shanghai LEGO Land, at least eight theme parks opened or were renovated in China between June and August 2025, marking a significant increase compared to previous years [8][9]. Group 2: Visitor Trends and Ticket Pricing - The peak ticket price for Shanghai LEGO Land is set at 549 yuan, with adult tickets ranging from 319 to 599 yuan, while children's tickets are priced between 255 and 479 yuan [5][7]. - Despite the high ticket prices, there was no significant ticket scalping observed on the opening day, contrasting with the experiences of other major parks like Shanghai Disneyland [5][7]. Group 3: Market Dynamics and Economic Impact - The surge in theme park openings is attributed to the pause in construction during the pandemic, with many projects completing their development in 2023, coinciding with the peak summer season for visitor traffic [9][10]. - The opening of new parks is expected to generate substantial economic benefits, with a notable increase in hotel bookings in the vicinity of Shanghai LEGO Land, which saw a 3.5 times year-on-year increase [11][12]. Group 4: Competitive Landscape - The competition among theme parks is intensifying, with a notable recovery in visitor numbers this summer compared to 2024, as operators enhance their offerings to attract guests [14][16]. - The article indicates that while major international parks like Disneyland are also affected, local parks are gaining popularity, with some experiencing significant increases in booking volumes [16].

Core Viewpoint - The article discusses the rapid expansion of theme parks in China, particularly focusing on the opening of new parks and the competitive landscape of the "happy economy" during the summer of 2025 [3][6][14]. Group 1: New Theme Park Openings - Shanghai LEGO Land officially opened on July 5, 2023, marking it as the largest LEGO park globally and the first in China [5][8]. - At least eight theme parks opened or underwent renovations in China from June to August 2023, indicating a significant increase in activity compared to previous years [5][14]. - Other notable openings include Guangzhou's Xingji World and Qingdao's Oriental Eden, which had been in development for years [14][16]. Group 2: Visitor Experience and Ticket Pricing - On its opening day, LEGO Land's adult ticket price was set at 549 yuan, with children's tickets ranging from 255 to 479 yuan [10]. - Compared to other major parks like Shanghai Disneyland and Beijing Universal Studios, LEGO Land's ticket sales were relatively calm, attributed to high temperatures and incomplete attractions [10][12]. - Despite initial concerns about ticket pricing and ride availability, the park saw a fivefold increase in search volume since June, indicating strong interest [12][16]. Group 3: Economic Impact and Future Developments - The article highlights the economic benefits of theme parks, with significant growth in hotel bookings in the vicinity of LEGO Land, showing a 3.5 times increase compared to the previous year [17][18]. - The demand for accommodations has surged, with some properties near LEGO Land fully booked shortly after its opening [19]. - The article notes that there are at least 20 large theme parks under construction across China, reflecting a strong investment interest in the sector [17][20]. Group 4: Market Trends and Visitor Behavior - The overall visitor numbers for theme parks have rebounded in 2023, with a 70% increase in bookings compared to the previous year [22]. - Local parks are gaining popularity, with some achieving significant growth in visitor numbers, such as the Changzhou China Dinosaur Park and Beijing's Pop Mart City Park [22]. - Despite the increase in visitors, consumer spending remains cautious, with limited growth in secondary spending observed [22].