Guanguan.com Recently, Xingsheng Commercial and Lu'an Lorsi Outlet Real Estate Co., Ltd. have reached a cooperation. The two parties will jointly promote the commercial operation cooperation of the Lu'an Shanshui Outlets project. This cooperation project is Xingsheng Commercial’s

Viewpoint Network Recently, Xingsheng Commercial and Lu'an Lorse Outlet Real Estate Co., Ltd. have reached a cooperation. The two parties will jointly promote the commercial operation cooperation of the Lu'an Shanshui Outlets project.

This cooperation project is Xingsheng Commercial's "debut" in Anhui. The cooperation will adopt a brand and management output model and introduce the shopping mall brand "COCO City" operated and managed by Xingsheng Commercial.

Anhui Lu'an "COCO City" project will consist of a shopping mall and an international famous brand light luxury super block in Area A, an international famous brand sports super block in Area B, and an exclusive water street restaurant block in Area C Lu'an .

Viewpoint New Media learned that the total construction area of ​​the project is approximately 150,000 square meters. The scope of this cooperation is shopping malls and commercial blocks, with a cooperation area of ​​approximately 102,500 square meters. It is planned to create a new commercial benchmark in Lu'an.

According to the positioning of the Xingsheng commercial brand system, "COCO Park" is classified as an urban shopping mall; "COCO City" and "iCO" are regional shopping malls, targeting consumers within a five-kilometer radius; "COCO Garden" is A community shopping mall targeting customers within three kilometers. " third space " is positioned as a high-end home furnishing shopping mall.

National expansion

Xingsheng Commercial, which is deeply involved in Shenzhen and Greater Bay Area , is constantly expanding its business territory in light asset expansion. Since its establishment in 2004, it has adhered to the principle of "deeply cultivating the Greater Bay Area and developing long-term The expansion strategy of "triangle and seize the central and western regions".

In 2021, Xingsheng Commercial delivered impressive results. The 2021 financial report shows that it achieved revenue of approximately 572 million yuan, a year-on-year increase of approximately 29.5%; gross profit was approximately 330 million yuan, a year-on-year increase of approximately 32.9%; net profit attributable to the parent company was approximately 185 million yuan, a year-on-year increase of approximately 45.8%.

As an asset-light business management group, Xingsheng Commercial holds cash and cash equivalents of 1.27 billion. cash flow is an important support for the expansion of Xingsheng Commercial’s territory.

During the reporting period, Xingsheng Commercial added 36 new projects, including 1 entrusted management service, 34 brand and management output services, and 1 full leasing service, with a new contract construction area of ​​659,000 square meters.

At the end of 2021, it signed contracts to provide services to 84 commercial property projects, covering 25 cities in China, of which 24 commercial property projects have been operated and 60 commercial properties have not yet started operation. In terms of regional distribution,

has 9 projects in the Yangtze River Delta, 4 and projects in Central China, 57 projects in the Greater Bay Area, and 14 projects in other regions.

From a city perspective, Xingsheng Commercial has 55 projects in first-tier cities, 16 in second-tier cities, 6 in third-tier cities, and 67 projects in fourth-tier cities.

As of December 31, 2021, Xingsheng’s commercial contract area reached 3.9 million square meters, of which third-party projects accounted for 62.4%, and it has marketization capabilities and industry recognition.

At the end of 2021, Xingsheng Commercial has 24 projects in operation, with an operating area of ​​1.82 million square meters, an occupancy rate of 94%, sales growth of 33% compared with 2020, and same-store growth of 21%. Projects under management are stable There is progress.

From last year’s financial report, it can be observed that in addition to being deeply involved in the Greater Bay Area, Xingsheng Commercial has also begun to expand into the core areas of the sinking market.

Light asset sinking

In the light asset cooperation model, it mainly includes four operating models: entrusted management, brand and management output, full leasing service and leasing operation. Xingsheng Commercial is the main brand and management output model, and the light external layout is Asset projects are all based on this model. The income of the

brand and management output model comes from the positioning of the partner's project, the fees for construction consulting and tenant recruitment services, and the fees for management and preparation for the opening and operation of the project.

At the end of 2021, Xingsheng Commercial’s entrusted management service revenue was 351 million yuan, an increase of 13.9% over the same period last year; its brand and management output service revenue was 198 million yuan, an increase of 74.2% over the same period last year.

’s early Xingsheng Business focused on non-core urban areas in the Greater Bay Area. A typical project representative is Shenzhen Longhua Galaxy iCO. The project opened in 2015 with an operating area of ​​approximately 54,000 square meters.

This project is Xingsheng Commercial's first project to provide services to third-party owners with a brand output service model. Since then, Xingsheng Commercial has focused on light assets and expanded outside the Greater Bay Area, gradually entering the Yangtze River Delta and Central China. , thereby achieving national layout.

In 2020, Galaxy Commercial Real Estate and Zhanying Real Estate will cooperate to jointly build a third-party benchmark project, Zhongshan Tianyi Galaxy COCO City, which can be regarded as the core area where Galaxy begins to layout the sinking market, and is also a benchmark for Xingsheng Commercial's ongoing projects. Case.

This project is located in the core area of ​​East District, Zhongshan City. In the future, two BRT lines and two stations will be connected, with approximately 140,000 square meters of commercial space, creating a one-stop urban complex for living. After

, Xingsheng Commercial has signed 11 new projects in Rizhao, Shandong, Shenzhen, Huizhou, Guangdong, Changzhou, Jiangsu, Jieyang, Guangdong, Guangzhou and Chengdu in 2021, of which 6 are projects under the parent company Galaxy Holdings and 5 are independent projects. Third party property projects.

It is worth mentioning that, including the new "COCO City" in Lu'an City, Anhui Province, the cities in which Xingsheng Commercial has deployed are all core areas of the province or urban area. They are no longer limited to the Greater Bay Area, but Actively lay out the core areas of sinking markets across the country.

Some analysts believe that Xingsheng Commercial can successfully operate in the sinking market. In addition to benefiting from its rich experience and brand effect , it also has advantages in brand and management output models. Under this model, smaller funds and lower risks can be used to achieve large-scale layout. Although

's deep penetration in the Greater Bay Area has allowed Xingsheng Commercial's light asset operation to accumulate rich experience, it also proposed that "business should not have the so-called concept of off-site replication now."

Xingsheng Business pointed out that "the business model can be copied, and the business form must be one store, one policy, one issue, one discussion, and one city, one discussion." After entering other cities in the future, the city's culture, characteristics, and urban environment will be , commercial points, and consumption characteristics will be researched on a store-by-store basis to form a commercial interpretation of urban commercial points and even projects, which will finally be reflected through the implementation of the project.