Core Viewpoint - The recent decline in fruit prices in Shanghai's markets reflects a broader trend in the fruit industry, driven by both supply chain upgrades and changes in consumer demand, with a notable shift towards domestic fruit production as a future trend [1][4][9]. Price Trends - Prices for popular fruits such as cherries and strawberries have dropped significantly, with cherries seeing a price reduction of over 20% and strawberries experiencing a price drop of around 50% within a month [4][5]. - Specific price data shows that imported cherries fell from 57 yuan per kilogram in January 2025 to 45 yuan in January 2026, while strawberries dropped from 43 yuan to 35.5 yuan per kilogram in the same period [4][5]. Supply and Demand Dynamics - The overall fruit prices have decreased by 20% to 30% due to an oversupply in the market, particularly for imported fruits like cherries, which have seen increased imports leading to lower prices [9][10]. - The production of domestic fruits such as sugar oranges and strawberries has increased, with sugar orange production reaching 6.5 million tons in 2025, a 25% increase year-on-year [9][10]. Market Competition - The simultaneous harvest of various fruits has intensified competition, leading to price wars, especially among lower-quality fruits [11][12]. - The rise of e-commerce and improved supply chain logistics has reduced costs and allowed for more competitive pricing at the retail level [11][12]. Impact on Producers - The decline in prices has adversely affected upstream fruit growers, with some experiencing a drop in purchase prices by 40% to 50%, marking the lowest in 20 years for certain varieties [13][14]. - The overall price for blueberries has decreased by about 20% compared to the previous year, with market prices continuing to decline [13][14]. Future Trends - The fruit market is expected to see a short-term stabilization due to seasonal demand, but long-term trends indicate a continued decline in prices, with a focus on quality differentiation [16][17]. - The industry is moving towards a model where high-quality domestic fruits will gain prominence, and there will be a shift towards more specialized and diversified consumption scenarios [17][18].

随着部分制造业行业进入传统淡季，加之市场有效需求仍显不足，1月份制造业PMI再度回到荣枯线之 下。 张立群表示，要显著扩大政府公共产品投资规模，有效扩大需求、增加企业订单，充分发挥好政府宏观 经济治理对市场失灵的有力矫正作用。尽快巩固和增强经济回升向好的基础，努力实现十五五规划的良 好开局。 国家统计局1月31日发布的数据显示，1月份制造业采购经理指数、非制造业商务活动指数和综合PMI产 出指数分别为49.3%、49.4%和49.8%，比上月下降0.8个、0.8个和0.9个百分点，经济景气水平有所回 落。 制造业价格水平改善 中国物流与采购联合会特约分析师张立群认为，1月份PMI有所下降，重回荣枯线之下，表明经济回升 的基础尚不稳固。市场引导的需求不足仍呈发展态势，企业对未来市场走势和政策预期效果的观望仍处 徘徊不定状态，经济回升基础性动力亟待加强。 1月制造业PMI为49.3%，较上月下降0.8个百分点，显示制造业运行有所波动。 中国物流信息中心文韬表示，从分项指数以及不同行业的指数变化来看，1月我国制造业市场需求有所 收紧，但企业生产保持扩张态势，原材料和产成品价格联动上升，产业结构继续优化，制造业后市回 ...

Core Viewpoint - The manufacturing sector in China is experiencing a decline in economic activity, as indicated by the drop in the Purchasing Managers' Index (PMI) below the growth threshold, reflecting insufficient market demand and the need for stronger economic recovery measures [1][4][6]. Manufacturing Sector - The manufacturing PMI for January is reported at 49.3%, a decrease of 0.8 percentage points from the previous month, indicating fluctuations in manufacturing operations [4]. - New orders index fell to 49.2%, down 1.6 percentage points, suggesting a tightening of market demand [4]. - The production index remains in the expansion zone at 50.6%, but has decreased by 1.1 percentage points, indicating a slowdown in manufacturing production growth [5]. - The prices of raw materials and finished products are rising, with the raw material purchase price index at 56.1% and the factory price index at 50.6%, marking the first time in nearly 20 months that the factory price index has risen above the critical point [5][6]. - Over 34% of manufacturing companies reported a decline in profits, highlighting concerns regarding profitability amid rising raw material costs [6]. Non-Manufacturing Sector - The non-manufacturing business activity index is at 49.4%, down 0.8 percentage points, with the construction sector experiencing a significant decline [9]. - The service sector remains relatively stable, with a slight decrease in the service business activity index to around 49.5% [10]. - The service industry shows optimistic expectations, with a business activity expectation index of 57.1%, indicating a positive outlook for the upcoming Spring Festival consumption [10].

2025年工业利润实现正增长 税收收入中，前4大税种收入均保持增长。其中个人所得税16187亿元，增长11.5%；证券交易印花税 2035亿元，增长57.8%；出口退税21337亿元，增长10.7%。 国有土地使用权出让收入41518亿元，下降14.7%，自2022年以来连续第四年下滑。 装备制造业和高技术制造业是全年利润增长的主要支撑。2025年，规模以上装备制造业利润较上年增长 7.7%，拉动全部规模以上工业企业利润增长2.8个百分点，是对规模以上工业企业利润增长拉动作用最 强的板块。规模以上高技术制造业利润较上年增长13.3%，高于全部规模以上工业12.7个百分点。智能 电子产品创造消费新潮流，带动智能消费设备制造行业利润较上年增长48.0%。 近期，工业和信息化部对工业经济稳增长密集作出部署，将"全力巩固工业经济稳中向好态势"列为2026 年首要任务。工信部部长李乐成表示，今年将实施传统产业焕新行动和发展壮大新兴产业打造新动能行 动，全面提升产业科技创新能力。巩固拓展"内卷式"竞争综合整治成效，进一步增强经营主体动力活 力。 【点评】2025年工业利润呈现"前低后高、震荡波动"走势，全年利润最终实现正 ...

Core Viewpoint - The transformation journey of Meibang Apparel (美邦服饰) is challenging, with significant financial losses projected for 2025 and a shift in brand strategy under the leadership of founder Zhou Chengjian [2][4]. Financial Performance - Meibang Apparel expects a net loss of 230 million to 300 million yuan for 2025, indicating an increase in losses compared to previous periods [2]. - In 2024, the company's revenue dropped nearly 50% to 680 million yuan, with a net loss of 195 million yuan [4]. - For the first half of 2025, the company reported revenue of 227 million yuan, a year-on-year decline of 45.2%, and a net profit attributable to shareholders of 9.93 million yuan, down 87.1% [4]. Strategic Adjustments - The company is undergoing a product strategy adjustment, focusing on reducing historical inventory and increasing promotional discounts, which has impacted revenue and gross margin [2]. - Zhou Chengjian has returned as chairman and initiated significant reforms, including a brand repositioning from "trendy casual" to "trendy outdoor" and a logo upgrade [2]. - The "Grab Bird Plan" was introduced as a marketing strategy, but the company has since started to diversify its product categories again, moving towards retro, streetwear, urban commuting, and outdoor exploration [4]. Market Challenges - Despite the popularity of the outdoor segment, industry insiders believe Meibang lacks the inherent outdoor brand DNA to compete effectively with established brands [5]. - The company's attempt to position itself as a "cost-effective alternative" to high-end outdoor brands has faced challenges, with consumers questioning its outdoor credibility [5]. - Zhou Chengjian acknowledges that while the marketing efforts were successful in generating buzz, they did not translate into commercial success, indicating a need for ongoing reflection and improvement [4][6].

当地时间周五（30日），美国总统特朗普宣布美联储新任主席人选——凯文·沃什。这位长期批评美联 储的人士，将迎来把自己的货币政策体系理念付诸实践的契机，与此同时，当下白宫正试图加强对利率 制定的掌控。 隔夜，美股震荡下行，美元汇率和债券收益率则应声走强，黄金价格大幅跳水。市场预期沃什会支持降 息，但远不会像其他潜在提名者那样采取激进的宽松货币政策。一是他拥有美联储任职履历，二是华尔 街普遍认为，他不会一味听命于特朗普。 分裂的美联储 长期以来，美联储一直被视为全球金融市场的稳定力量，这在很大程度上得益于其公认的政治独立性。 而特朗普正不断采取行动试探这份独立性，其中包括本月司法部决定对鲍威尔展开刑事调查。此举为任 何继任者的参议院确认程序埋下了重重障碍。 随着特朗普公布提名，美国国会内部已经出现质疑声。共和党参议员汤姆・蒂利斯表示，在调查尚未结 束的情况下，他不会支持特朗普提名的任何美联储主席人选。民主党参议员伊丽莎白·沃伦对特朗普决 定提名沃什表达关切。质疑沃什是否能够在不受白宫影响的情况下领导美联储。"特朗普已表示，任何 与他意见不合的人都不可能成为美联储主席，"她呼吁共和党人暂缓推进沃什的提名，直至司法部 ...

Core Viewpoint - The report highlights that 215 stocks have gained attention from brokerages in January, with 35 stocks experiencing a monthly increase of over 30%, indicating strong market performance and potential investment opportunities [1][4]. Group 1: Stock Performance - Among the 215 stocks, notable performers include Zhuoyi Information, which surged nearly 99%, and Dike Co., which rose nearly 83% [1]. - Other significant gainers include Baiwei Storage (over 63%), Robotech (62.61%), and Mingyang Smart Energy (60.22%) [2][3]. Group 2: Potential Stocks - Three stocks that have not yet reached their target prices include Keli Ke, with a maximum upside potential exceeding 38%, and a latest closing price of 23.88 yuan [6]. - The target price for Keli Ke is set between 31.03 and 33.17 yuan by Guosen Securities [6]. - Other stocks with potential include Chipone Technology, with a target price of 243.00 yuan, and Pruis, with a target price of 93.00 yuan [6].

国际金价崩盘跳水之际，这几天金饰克价继续跌，从1700元掉到1500元。在国内头部金饰品牌克价一度 冲破1700元大关之后，价格迎来了持续的回落。1月31日，周大福金饰报价1625元/克，周生生金饰报价 1618元/克。而1月29日周大福金饰报价1706元/克、周生生金饰报价1708元/克，1月30日周大福金饰报价 1685元/克、周生生金饰报价1683元/克。 （文章来源：第一财经） 以此计算，周大福金饰克价在1日内跌了60元、2日跌了81元。周生生金饰克价1日跌了65元，2日跌了90 元。 ...

(本文来自第一财经) 据中国中车公众号，近期，中国中车集团发现市场上有不法分子冒用公司名义，通过名为"中国中车 CRRC""中国中车"和"中车风电"等的应用程序（APP），采用传销式运作模式，虚构投资标的，宣扬每 日付息、到期返本、高额回报等所谓理财项目，进行非法融资诈骗活动。此举严重侵害公司声誉及合法 权益，对社会公众财产安全构成重大威胁。公司现严正声明如下： 公司与名为"中国中车CRRC""中国中车"和"中车风电"的APP无任何关联；该APP具有显著非法特征，请 公众务必提高警惕，切勿上当；请社会各界及广大公众提高警惕，增强风险防范意识。公司未授权任何 人以微信群、朋友圈形式发布理财信息、内部项目和投资理财APP链接，请广大公众提高警惕，切勿通 过该类APP或类似非法渠道进行任何形式的资金投入。如您已不慎参与并遭受损失，请立即向所在地公 安机关报案。 ...

浦东新区区委宣传部负责人表示，浦东新区在去年底就成立了"来浦东 过大年"工作专班，统筹市区多 方力量，全面调度各方资源，全力抓好新春氛围营造、活动组织策划、资源供给保障、媒体宣传推广等 重点工作，让广大市民游客春节期间来浦东感受全城共庆的新春氛围，饱览穿越千年的文博大展，观赏 精彩纷呈的重磅演出，打卡新春专属的景区活动，体验热闹非凡的年味庆典。"来浦东 过大年"新春系 列活动的启动，将传播中华优秀传统文化与促进消费扩大内需更好地结合起来，进一步汇聚大流量、点 燃旺人气、带动新消费、提升新价值。 1月30日晚，"来浦东 过大年"新春系列活动启动，向全球游客发出邀约，并创新推出首届"浦东中国年 味节"，着力打造年节文化IP。 同时，"来浦东 过大年"新春系列活动还与前期已经启动的浦东"新春嘉年华"消费季活动协同，两大迎 新IP一同联动至3月，全面实施票根联动、旅游专线、联合宣推等系列举措，打造各具特色、相互引流 的文旅商体展迎新活动，以"悠长假期+传统年味+场景体验"，激活新春消费市场，放大消费效应。 "我们一直在探索如何将传统和创新更好地融合。"浦东中国年味节总策划陈败表示，"陆家嘴不仅代表 着城市的高度，更应 ...