仲量联行：大中华区2025年第二季度物业摘要报告（51页）.pdf

1、 20240304050607080910111314151617181920212223242627282930313233353637384041424345464748492 20252025202530.170%MCN2025 21%29%/22.3%170.5115.81.554.720251.5|202532025245,4585.0%0.41.530.7%27.60.8%3.1%2.9%6188.5%24.9%10%21206.927.5%61.0%4050%2110.5%0.3A8.4%1.1B10.8%C0.112.1%12212.8%/2025218002025202620

2、272028 2025|20254202521190179202517940202525%10%2026 2025|2025520252025570.55LPR103.5%2520253.610.4%20252.219.6%1.615.5%20253.83.7%20242020252050703.4%4114013.8%1639300.7%202560.3%0.10.4%0.3%0.5%0.6%0.2%0.3%202511.6%13.6%3.6%2025730 2025|20256研究部专题文章2025 2025IPZ Pop Mart22024502025100ZIPIP2025IP 202

3、51202522019-20257IP=IPJellycatZ0204060801001202019年2020年2021年2022年2023年2024年2025年预测销售额（亿元人民币）研究部专题文章20243D20%202450%+-2025213.5%202450.3%2025128研究部专题文章 20259研究部专题文章202514.8%1622018202293%-96%80%562022-20242025-202729880%83%202512021-2024210研究部专题文章1202422022-2024+201920241006620240.75%2019-20242022-2

4、02474%85%202430%2022-202412YTD 2025(YTD)68,315 (YTD)0 12.0%252-18.8%-3%0%3%6%9%12%15%18%-20020406080100120201920202021202220232024YTD2025YTDCBD|202513413,700|202557,30074,2000.216.9%413,7001.831.0%2.4%6.9/2.7%4.5/(YTD)148,400(YTD)593,700 24.6%169.8-13.0%0%5%10%15%20%25%050100150200202020212022202320

5、24YTD 2025 2025YTDYTD14 2025TMT2.9|20251.4“”1277.5(YTD)78,600(YTD)449,000 23.8%144.0-11.0%0%5%10%15%20%25%020406080100201920202021202220232024YTD2025YTDYTD15YTD 2025|202520251,000371-21.326.5%3.1%12120(YTD)182,400(YTD)644,600 26.5%135-10.6%0%10%20%30%010020030020202021202220232024YTD 2025YTD16YTD 20

6、252.0|20252025JFC2932.8%0.828.1%5.421.235%12.3%22.3%20.9%16.7%2025870%66.1/2.0%(YTD)32,424(YTD)177,700 32.8%66.1-11.6%0%10%20%30%40%020406080201920202021202220232024YTD2025YTD17YTD 2025|2025202521%19%2025T510.86996.9334.52.265.2%62.069.0202540YTD(YTD)36,871(YTD)181,000 40.0%69.0-14.7%0%10%20%30%40%5