(Inditex爱特思集团财报) 12月3日，Inditex爱特思集团公布2025财年前三季度业绩，销售额同比增长2.7%至282亿欧元，毛利润同 比增长3.2%至168亿欧元，EBITDA同比增长4.2%至83亿欧元，净收入增长3.9%至46亿欧元。 2025年11月1日至12月1日期间，按固定汇率计算的店铺及线上销售额较2024年同期增长10.6%。 报告显示，Inditex以提升时尚主张、顾客体验、可持续发展实践及培育世界级团队为首要任务，依托渠 道、地域和品牌多元化战略巩固长期增长潜力。2025年前三季度，其在39个市场新开门店，期末共运营 5527家门店，业务覆盖214个市场。凭借敏捷性、快速响应力及当季就近采购的商业模式，集团稳固了 市场地位，同时持续投资门店、线上渠道与集中式物流平台。 未来规划方面，2025-2026年年总空间增长率预计约5%，净面积与线上销售将同步增长；2025年毛利率 预计稳定(+/-50个基点)，普通资本支出约18亿欧元。2024-2025年物流拓展计划稳步推进，每年投入9亿 欧元，萨拉戈萨二期配送中心已运营。 品牌动态上，Zara阿尔泰修新大楼启用，在拉斯维加斯等地开新 ...

Group 1: Industrial Profit Trends - In the first five months of the year, the total profit of large-scale industrial enterprises in China reached 27,204.3 billion yuan, a year-on-year decline of 1.1%. In May alone, profits dropped by 9.1% year-on-year [1][2] - State-owned enterprises experienced a profit total of 8,709.5 billion yuan, down 7.4% year-on-year, while private enterprises saw a profit increase of 3.4% to 7,592.5 billion yuan [1][2] Group 2: Private Enterprises' Role - Private enterprises play a crucial role in supporting economic growth, contributing significantly to tax revenue, job creation, and innovation. There is a need to optimize the business environment for private enterprises to address operational challenges [3] Group 3: Alibaba's Restructuring - Alibaba Group reduced its partner count from 26 to 17, indicating a focus on frontline business leaders to enhance adaptability in the current market environment. The company reported a revenue of 996.347 billion yuan for the fiscal year 2025, with a net profit increase of 77% to 125.976 billion yuan [4][5] Group 4: Xiaomi's Product Launch - Xiaomi launched multiple new products, including the YU7 car, which saw over 200,000 pre-orders within three minutes. The pricing of the YU7 ranges from 253,500 yuan to 329,900 yuan [6][7] Group 5: Vanke's Financial Situation - Vanke reported a revenue of over 340 billion yuan, with a net loss of nearly 50 billion yuan for the year. The company is focusing on asset sales and expanding financing channels to manage debt repayment pressures [8][9] Group 6: Zara Home's Market Exit - Zara Home is closing its last stores in Changsha and Hangzhou, reflecting the decline of fast fashion brands in the Chinese market. The brand's high rental costs and consumer preference for cost-effective products have contributed to its struggles [10][11] Group 7: Honor's IPO Plans - Honor has initiated the process for an A-share IPO, with plans to invest 100 billion yuan in AI over the next five years. The company aims to transition from a smartphone manufacturer to a leading AI terminal ecosystem provider [14][15]