| 代码 | 名称 | 最新价 | 涨跌幅 √ | | --- | --- | --- | --- | | 02331 | 李宁 | 19.180 | 4.87% | | 02020 | 安踏体育 | 83.150 | 1.84% | | 00551 | 裕元集团 | 18.200 | 1.51% | | 01368 | 特步国际 | 5.590 | 1.45% | | 01361 | 361度 | 6.010 | 1.18% | | 06858 | 本间高尔夫 | 3.230 | 0.94% | | 06110 | 溜搏 | 3.180 | 0.32% | 港股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 12月17日，近日港股体育用品股持续活跃，目前李宁涨近5%领衔，近4日累计涨幅超11%并且创逾3个 月新高，安踏体育、裕元集团涨近2%，特步国际涨1.4%，361度涨超1%，本间高尔夫、滔搏跟涨。 消息上，12月11日召开的中央经济工作会议明确2026年经济工作重点任务为「坚持内需主导，建设强大 国内市场」。分析人士认为，服装行业的消费预期或持续向好。 中国银河证券指出，对于纺织服饰这一可选消 ...

Core Insights - The report emphasizes the optimism surrounding new consumption opportunities driven by quality supply, indicating that the "new consumption upgrade" will extend beyond 2025, focusing on innovative and user-centric supply rather than just cost reduction [3][4] - The report highlights the shift from "internal competition" to "external expansion," noting that Chinese manufacturing capabilities are now positioned to explore global supply chain opportunities, particularly in personal care and home goods [4] - The integration of AI in consumer products is identified as a significant growth area, with AI-powered devices like smart glasses expected to gain traction in 2025 and beyond [5] - The report discusses the K-shaped recovery in purchasing power, suggesting that luxury and experiential consumption will remain resilient as consumers continue to seek status through their purchases [6] Group 1: New Consumption Trends - The essence of new consumption is a supply-driven upgrade, focusing on innovative products that meet previously unmet consumer needs, such as ergonomic furniture and outdoor sports equipment [3] - The report anticipates that the alignment of quality supply and demand will continue to evolve, with new categories emerging beyond those already recognized in the market [3] Group 2: Global Expansion of Quality Supply - Chinese manufacturers are expected to capitalize on their competitive advantages in efficiency and innovation to expand into international markets, particularly through e-commerce [4] - The report notes that the personal care supply chain in China is significantly stronger than in Western markets, presenting a threefold expansion opportunity for Chinese brands abroad [4] Group 3: AI and Consumer Products - AI applications are projected to enhance consumer products, with smart glasses expected to enter mass production and drive new market dynamics [5] - The report suggests that 3D printing will also play a crucial role in the future of AI-enabled consumer goods [5] Group 4: Luxury and Experiential Consumption - The report identifies a persistent demand for symbolic consumption, particularly in luxury goods, as consumers continue to compete for status [6] - The luxury market is shifting towards services and experiences, with brands like Hermes and private jet companies expected to benefit from this trend [6] Group 5: Market Dynamics and Company Performance - The report outlines the competitive landscape for companies in the IP-driven consumer goods sector, emphasizing the importance of a diversified IP portfolio and localized marketing strategies for success [52][58] - Companies like Pop Mart are highlighted for their successful global strategies and the ability to create emotional connections with consumers through their IP offerings [58]

北京商报讯(记者张君花)12月15日，北京上报记者了解到，跑鞋品牌特步公布将与马来西亚深耕逾50年 的渠道商Bonia组建合资公司，共拓当地市场。特步方面表示，计划未来5年内在马来西亚新开50家店， 把马来西亚打造成"出海样板+跑步品牌对外展示的窗口"。 ...

责任编辑：卢昱君 客户端 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 体育用品股午前集体走高，截至发稿，裕元集团（00551）上涨6.26%，报17.65港元；李宁（02331）上 涨5.43%，报18.64港元；361度（01361）上涨2.90%，报6.04港元；特步国际（01368）上涨2.79%，报 5.52港元。 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 体育用品股午前集体走高，截至发稿，裕元集团（00551）上涨6.26%，报17.65港元；李宁（02331）上 涨5.43%，报18.64港元；361度（01361）上涨2.90%，报6.04港元；特步国际（01368）上涨2.79%，报 5.52港元。 责任编辑：卢昱君 ...

每经AI快讯，体育用品股集体走高。截至发稿，裕元集团(00551.HK)涨4.46%，报17.35港元；李宁 (02331.HK)涨4.58%，报18.49港元；361度(01361.HK)涨3.07%，报6.05港元；特步国际(01368.HK)涨 2.98%，报5.53港元。 ...

智通财经APP获悉，体育用品股集体走高，截至发稿，裕元集团(00551)涨4.46%，报17.35港元；李宁 (02331)涨4.58%，报18.49港元；361度(01361)涨3.07%，报6.05港元；特步国际(01368)涨2.98%，报5.53 港元。 国盛证券则表示，品牌服饰关注稳健成长或具备反转逻辑的优质个股。当前重点推荐具备反转逻辑的 Nike 大中华区零售商滔搏；波动环境下运动鞋服板块经营韧性强，同时看好运动鞋服板块长期增长 性，推荐运动鞋服板块优质标的安踏体育、李宁。 申万宏源发布研报称，随中美关税政策优化，11月纺织服装出口环比好转，带动出口链景气度回升。跟 踪各公司近月流水，11月丰泰/裕元（制鞋业务）/聚阳收入同比-11.8%/-2.4%/+0.5%，裕元、聚阳环比 改善，持续看好耐克链修复带来的运动制造板块布局机会。 ...

体育用品股集体走高，截至发稿，裕元集团(00551)涨4.46%，报17.35港元；李宁(02331)涨4.58%，报 18.49港元；361度(01361)涨3.07%，报6.05港元；特步国际(01368)涨2.98%，报5.53港元。 申万宏源发布研报称，随中美关税政策优化，11月纺织服装出口环比好转，带动出口链景气度回升。跟 踪各公司近月流水，11月丰泰/裕元(制鞋业务)/聚阳收入同比-11.8%/-2.4%/+0.5%，裕元、聚阳环比改 善，持续看好耐克链修复带来的运动制造板块布局机会。 国盛证券（002670）则表示，品牌服饰关注稳健成长或具备反转逻辑的优质个股。当前重点推荐具备反 转逻辑的Nike大中华区零售商滔搏；波动环境下运动鞋服板块经营韧性强，同时看好运动鞋服板块长期 增长性，推荐运动鞋服板块优质标的安踏体育、李宁。 ...

Market Overview - The textile and apparel sector in A-shares has underperformed the broader market since December, with textile manufacturing showing better performance than branded apparel, declining by -3.3% and -4.4% respectively [1][13] - The Hong Kong textile and apparel index rose by 2.9% in November but has since turned negative in December [1] Brand Apparel Insights - Retail sales of clothing in October grew by 6.3% year-on-year, with a stable growth rate compared to the previous month, increasing by 1.6 percentage points [2] - E-commerce performance varied significantly between categories from October to November, with outdoor leisure leading, while home textiles and personal care faced declines. Year-on-year growth rates for various categories were: outdoor (+20%), sportswear (0%), leisurewear (+8%), home textiles (-9%), and personal care (-2%) [2] - Notable brands with strong growth included Descente (74%), Lululemon (69%), and Asics (8%) in sportswear; and brands like Atour Planet (43%) and Luolai Home Textile (26%) in home textiles [2] Textile Manufacturing Insights - In November, Vietnam's textile and footwear exports faced a high base effect from the previous year, resulting in a decline of -2.6% and -3.8% respectively. China's textile exports showed a slight recovery at +1.0%, while apparel and footwear exports fell by -10.9% and -17.2% respectively [3] - The macroeconomic environment remains challenging, with fluctuations in cotton prices and a slight increase in wool prices by +4.8% month-on-month and +32.0% year-on-year in November [3] - Taiwanese manufacturers reported improved revenue in November, driven by World Cup-related orders and a return to normalcy in brand ordering rhythms [3] Investment Recommendations - The report suggests focusing on the recovery of consumer spending and the rebound in textile manufacturing. It highlights the potential for high-end consumer recovery and the strong outlook for the light luxury outdoor segment [5][6] - Key brands recommended for investment include Anta Sports, Li Ning, and Xtep International, which are expected to benefit from the ongoing trends in high-end consumption and outdoor sports [6] - In textile manufacturing, companies like Shenzhou International and Huayi Group are highlighted as beneficiaries of tariff reductions and Nike's recovery, while New Australia and Weixing Holdings are noted for their potential gains from rising wool prices and improved order visibility [7]

文｜消费财眼 曾几何时，走进任何一座城市的商业中心，安踏、李宁、特步的门店总是人潮涌动，与耐克、阿迪达斯分庭抗礼，它们是"国潮崛起"与"全民健身"红利最直 接的受益者。然而，不知不觉间，一种微妙而深刻的转变正在发生。 细心者会发现，这些品牌的店铺不再像过去那样急速扩张，一些商圈的门店甚至悄悄易主。现实情况便是如此，面对过去依赖"万店规模"跑马圈地的模式已 触顶，为提升效率，三大品牌不约而同地优化线下渠道。 例如，2025年上半年，李宁净关闭门店51家，特步主品牌门店也减少了22家。这绝非简单的收缩，而是增长瓶颈期下迫切的经营调整。当线下客流增长放 缓、主品牌增长引擎普遍乏力，关闭低效门店、向核心商圈的大型体验店和高效的奥特莱斯渠道集中资源，成为了它们应对存量竞争、提升单店盈利能力的 共同选择。 同时，在社交媒体上关于它们"设计雷同"、"除了Logo没区别"的讨论也开始增多。而在消费者心中，曾经因情怀与性价比激发的购买冲动，正逐渐被更审慎 的"值不值"所取代。这一切表面的"降温"，指向几个品牌共同面临的残酷现实：驱动行业狂奔十年的外部市场红利，已经正式见顶。 因此，几个品牌的门店集体收缩绝非简单的业务调整，而是 ...

全民户外热潮持续升温的当下，冲锋衣从专业登山装备进阶为都市通勤利器，其暴雨防护性、湿气排出 力及耐用强度等核心性能，直接关系消费者在多变环境中的安全与舒适。然而面对品牌宣称的"防 水""透气""耐磨抗撕"，这些性能是否经得起实证考验？水洗后功能会否衰减？ 对此，深圳市消费者委员会联合福田区消委会于近期发布16款冲锋衣比较试验结果。结果显示，虽然16 款品牌样品的撕破强力均符合标准要求，但有过半样品的经向、纬向撕破强力均未超过20N，排名靠 后，涉及石下、海澜之家、凯乐石、骆驼、探路者、北面、特步、狼爪等品牌；抗湿性方面，按照标准 规定水洗3次后，骆驼、狼爪、海澜之家品牌样品的表面抗湿性相对较差。 针对此次比较试验结果，南都·湾财社记者致电探路者、骆驼等企业，其客服均表示会将此事进行上报 后续会有相关人士进行回复。此外，记者还通过邮件方式联系狼爪等多家企业，但截至发稿时，均未收 到相关回复。 16款样品整体质量虽然均表现稳定 但部分样品性能存在明显差异 本次比较试验通过线上电商平台及线下实体店渠道购买，共计16款单壳冲锋衣样品，涉及THE NORTH FACE（北面）、DECATHLON（迪卡侬）、CAMEL（ ...