Core Insights - Beijing Super Extreme He Shenghui has rapidly become a commercial landmark in northern Beijing, achieving over 3 billion in sales and attracting more than 40 million visitors in its first year [1][9] - The East and West districts combined create a massive commercial complex of 460,000 square meters with nearly 800 brands, making it one of the largest in Beijing [1][19] Group 1: Opening and Performance - The East District opened on April 18 last year, attracting over 220,000 visitors on its first day and achieving sales exceeding 3 billion within a year [1] - The West District opened on March 28 this year, further enhancing the complex's appeal and scale [1] Group 2: Brand and Store Strategy - The East District introduced nearly 400 brands, with 20% being first stores, including notable attractions like the deepest indoor diving facility in Beijing and the largest Huawei smart living store in northern Beijing [5][6] - The West District focuses on family-friendly and youth-oriented brands, featuring nearly 300 brands with 35% being first stores, including several international fashion brands [6] Group 3: Consumer Experience and Events - The complex emphasizes immersive consumer experiences, with a "city theme park" concept and various outdoor and semi-outdoor spaces designed to enhance shopping and leisure [10][14] - Over 1,500 events have been held since the East District's opening, with new themed activities planned for the West District starting in May [12][14] Group 4: Spring Festival and Promotions - The "Super Extreme Festival" features a variety of activities, including sports events and music festivals, aimed at creating a vibrant spring atmosphere for consumers [15] - Upcoming events include the "Light Track" Ultraman 15th Anniversary Exhibition, set to attract anime enthusiasts with interactive experiences [17][19]

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The Beijing retail market is experiencing a transformation with the introduction of new projects and the renovation of existing ones, driven by changing consumer habits and demands [3][5] - The market is expected to see over 700,000 square meters of quality retail space launched in 2025, primarily from large-scale new projects and urban renewal initiatives [5] - The introduction of new brands, particularly first stores, is revitalizing consumer engagement in Beijing, with 960 first stores expected in 2024 and 800 in 2025 [4] Market Overview - In Q1 2025, three new projects opened in Beijing, adding 356,000 square meters of quality retail space, bringing the total shopping center stock to 1.666 million square meters [3] - Urban renewal projects are becoming the main source of quality shopping center supply, with significant upgrades in both space structure and brand offerings [3] - The trend of upgrading older retail projects is ongoing, with operators taking over and revitalizing these spaces [3] Brand Developments - High-end dining and cultural entertainment brands are particularly active, with notable first stores opening in Beijing, such as Armani Coffee and POOPOSUPER [4] - Independent shops in traditional hutongs are gaining popularity among brands, indicating a shift in consumer preferences [4] Market Outlook - The report anticipates continued support for traditional brands and cultural enterprises, with policies being introduced to promote physical bookstores [5] - Future projects are expected to increasingly incorporate cultural elements, creating distinctive commercial spaces [5] Key Market Indicators - The average rent for prime retail space in Beijing is projected at ¥2,130 per square meter per month, with a vacancy rate of 10.6% [11] - The report provides detailed statistics on various commercial districts, highlighting their stock, vacancy rates, and rental price ranges [11] Major Upcoming Projects - Several significant projects are set to open in 2025, including Beijing Shangde Yintai City and Wangfujing WellTown, contributing to the retail landscape [13]