证券日报网讯 2月27日，百联股份在互动平台回答投资者提问时表示，公司在聚力打造标杆商业、轻重 并举拓展优势业态的同时，持续推动重点项目转型升级与提质增效，并依托在地文化打磨差异化空间产 品，未来将持续推动营运精细化管理。 （文章来源：证券日报） ...

证券日报网讯2月27日，百联股份（600827）在互动平台回答投资者提问时表示，公司严格按照上交所 的相关规定履行信息披露义务，相关财务数据与信息将在2025年年度报告中披露。公司已于2026年1月 30日发布了《2025年年度业绩预告》，公司将严格根据《企业会计准则》的有关规定进行账务处理，会 计处理最终以会计师事务所审计后的结果为准。 ...

证券日报网讯2月27日，百联股份（600827）在互动平台回答投资者提问时表示，公司持续推进空间与 内容创新，轻重并举发展优势业态，加速推进奥莱项目布局，探索ZX次元模式、TX策展模式复制拓 展，持续推进资产证券化，华安百联消费REIT作为上海首单消费基础设施REIT已于2024年8月正式上 市。公司持续提升企业数智化能力，推进数字化与新消费场景的融合，赋能传统零售转型升级。 ...

为让年味持续在线，世纪联华还组织开启"年味接力赛"系列惠民活动。2月23日至3月10日，世纪联华"开工焕新，福利全开的券包狂欢"接棒登场，通过多 品类的满减券包，并结合生鲜"一周不重样"的天天有惠活动，将节日消费热情平稳延续至节后开工季。 同时，联华超市也于1月14日至2月10日期间开展"恭贺新禧 马上有钱"积分兑换优惠券活动，累计兑换优惠券近22万张，用券直接带动销售超2000万元。 马年新春的消费热力从线下门店延伸至了市民餐桌。其中，"百联杯"民间厨神争霸赛依托百联强大的全球供应链，将五大洲甄选食材引入世纪联华、联华 超市各大门店以及百联各大商业体中，构建起"家门口的世界厨房"。 据悉，"百联杯"赛事目前正处于作品征集与互动阶段。自2月12日启动以来，该赛事活动已吸引大量市民参与，他们通过"i百联"APP上传了使用联华选购 食材制作的佳肴作品。随着征集期在3月3日结束，赛事活动将于3月5日至3月8日开启全民点赞，并于3月12日在百联中环购物广场举行线下决赛。 来源：上海证券报·中国证券网 上证报中国证券网讯（记者 宋薇萍）记者2月26日从百联集团获悉，2026年马年新春，百联集团整合旗下各业态优势资源，推 ...

Group 1 - The company emphasizes its commitment to investor returns and trust through a long-term stable dividend policy, consistently providing cash dividends to investors [1] - The company has undergone multiple rounds of mergers and acquisitions since its listing, leading to variations in financing amount calculations across different third-party trading software [1] - Investors are advised to refer to the company's official disclosures for accurate information [1]

Investment Rating - The report rates the real estate industry as "Outperform" compared to the market [1] Core Insights - New home sales in January showed a narrowing year-on-year decline, while second-hand home sales turned positive year-on-year [1][21] - The central bank has released favorable policies, including lowering the re-lending rate and reducing the down payment ratio for commercial properties [1][4] New Home Sales - In January, the new home sales area in 40 cities decreased by 42.3% month-on-month and by 22.0% year-on-year, with the year-on-year decline narrowing by 10.1 percentage points compared to the previous month [5][14] - First-tier cities saw a year-on-year decline of 14.0%, while second-tier cities experienced an 18.1% decline, and third and fourth-tier cities had a 41.1% decline [15][20] Second-Hand Home Sales - The second-hand home sales area in 18 cities decreased by 2.0% month-on-month but increased by 9.0% year-on-year, with the year-on-year growth rate improving by 41.3 percentage points compared to the previous month [21][25] - All city tiers showed positive year-on-year growth in second-hand home sales, with first-tier cities growing by 15.0% year-on-year [21][30] Inventory and Absorption - As of the end of January, the new home inventory area in 12 cities was 112.91 million square meters, down 0.4% month-on-month and down 6.3% year-on-year, with an overall absorption cycle of 18.1 months [28][29] - The absorption cycle for first-tier cities increased by 4.3 months year-on-year, while third and fourth-tier cities saw a decrease of 8.2 months [28] Land Market - The land market in January saw a transaction area decrease of 76.5% month-on-month and a 20.2% year-on-year decline, with an average land premium rate of 2.87% [1][12] - The average land price per square meter decreased by 36.8% month-on-month and by 20.9% year-on-year [13] Real Estate Companies - The top 100 real estate companies saw a 49.5% year-on-year decline in land acquisition amounts, with a land acquisition intensity of 32% [1][12] - The financing scale for the real estate industry in January was 39.6 billion yuan, down 26% year-on-year but up 7% month-on-month [1][14] Policy Developments - The central bank's policy changes include lowering the re-lending rate to 1.25% and reducing the minimum down payment ratio for commercial properties from 50% to 30% [1][4] - The first batch of commercial real estate REITs has been submitted for approval, with a total expected fundraising of 31.47 billion yuan [1][4] Sector Performance - The real estate sector outperformed the CSI 300 index in January, with an absolute return of 4.3% and a relative return of 2.7% [1][12] - The report anticipates two potential turning points in 2026: a policy turning point around the end of Q1 and a fundamental turning point around Q4 [1][12]

Group 1 - The company has established a "Market Value Management System" aimed at creating a long-term mechanism to enhance operational quality and sustainable development as the core of market value management [2] - The company will focus on its main business and strive to improve operational performance levels [2]

Core Viewpoint - The company emphasizes its commitment to shareholder returns and maintains a prudent dividend policy, with future share buyback plans to be disclosed in accordance with relevant laws and regulations [2]. Financial Information - The company's cash situation will be detailed in the financial statements section of the "2025 Q3 Report" to be disclosed on October 31, 2025 [2].

Core Viewpoint - Bailian Co., Ltd. emphasizes its commitment to investor returns and trust through a long-term stable dividend policy, indicating a focus on cash dividends for investors [1] Group 1 - The company has stated that it highly values investor returns and trust [1] - Bailian Co., Ltd. has been implementing a steady dividend policy over the long term [1] - The company will disclose any future share repurchase plans in accordance with relevant laws and regulations [1]

Group 1 - The core viewpoint of the article is that Bailian Group emphasizes the independent operational capabilities of Lianhua Supermarket as a standalone listed company, which is expected to improve its performance through digital transformation and operational adjustments [1] Group 2 - Lianhua Supermarket will focus on digital transformation to enhance its business efficiency and performance [1] - The company plans to make adjustments to its business model and improve internal efficiencies as part of its strategy for gradual performance improvement [1]