今天分享的是：2025年视频号半年度生态洞察报告-友望数据 报告共计：52页 《2025年全球宠物行业趋势与中国增长机遇报告》分析了全球及中国宠物行业的发展态势。全球宠物行业全年销售额达660亿美元，同比增长2.1%，北美市 场占比过半，但超半数增长来自欧洲市场，欧洲增长52%，北美增长33%，拉丁美洲、亚太地区等也有不同幅度增长。全球宠物数量达10亿，养宠家庭及养 猫家庭占比达十年来最高，四分之一的宠物家庭养猫。全球宠物用品购物者每2-3周购买一次，每次花费17美元，购买3-4件，17个市场新增120万名购物 者，欧洲年长者和退休家庭是重要消费群体。线上渠道作用凸显，欧洲36%的宠物食品通过线上销售，部分品类线上增长显著，Z世代更倾向线上购物，社 交电商兴起，TikTok在英国成为第五大线上平台。中国市场中，综合电商是主流，抖音迅速崛起，直播和短视频推动宠物食品市场，头部品牌扎根传统电 商，新兴品牌在内容平台发展。宠物食品呈现拟人化趋势，主食注重科学配方、工艺及细分需求，食疗理念渗透，零食强调美毛养肤及互动，人宠共情明 显，人食热点向宠粮迁移，如空气感、流心等概念受青睐，推动宠物食品迭代和消费需求增长。 以 ...

证券研究报告 | 2025年08月20日 纺织服装双周报（2508 期） 优于大市 7 月服装社零增速延续放缓，户外装备和母婴用品新股梳理 行情回顾：8 月以来 A 股纺服板块走势基本与大盘一致，纺织制造板块表现 优于品牌服饰，分别+4.2%/3.4%；港股纺服指数 8 月以来+4.2%，与大盘比 反弹较为明显。重点关注公司中涨势领先的包括：特步国际(9.4%)/波司登 (8.5%)/百隆东方(8.5%)/裕元集团(8.2%)/李宁(8.1%)/开润股份(7.7%)。 品牌服饰观点：1）社零：7 月服装社零同比增长 1.8%，增速环比轻微放缓， 较上月回落 0.1 百分点。2）电商：7 月电商增速环比回升明显，运动户外增 长保持领先，运动服饰/户外服饰/休闲服饰/家纺/个护分别+11%/+26%/ +2%/+10%/0%。运动服饰多数品牌出现双位数上升，增速领先的品牌包括迪 桑特(63%)/彪马(41%)/露露乐蒙(39%)；户外服饰整体涨势明显，凯乐石 (137%)/可隆(117%)/始祖鸟(113%)增速领先；休闲服饰品牌分化，江南布衣 (50%)/哈吉斯(40%)相对强劲；家纺增速领先的品牌包括亚朵星球 ...

纺织制造观点：1）宏观层面：伴随 7 月初越南对美出口关税政策落地， 7 月越南纺织品出口增速环比提速至 16.7%，鞋类出口同比增速转正至 4.5%；7 月中国纺织品出口增速达 0.5%，环比出现改善，服装/鞋类出 口未出现企稳迹象，同比-0.6%/-7.7%；7 月越南/印尼/印度 PMI 均环比 上升，分别+3.5/2.3/0.7。内外棉价格 8 月以来呈现小幅波动态势，分 别-0.7%/+1.8%。2）微观层面：7 月台企营收仍受台币汇率波动影响， 美元口径大部分实现正向增长；预期三季度后汇率和关税影响减弱。聚 阳客户预计 2026 年初涨价或刺激订单回升。志强三季度订单能见度高， 营运预计与去年同期持平。裕元下半年受关税及宏观经济不确定性影 响，客户下单倾向保守，订单能见度低，预计第三季因淡季效应及去年 高基数存在压力，第四季出货双数预计达到全年最高。关税主要由品牌 方向下游转嫁，代工厂分摊关税预计在 3%以内。 专题梳理：户外装备和母婴用品新股梳理。1）不同集团（H02065.HK）： 中高端母婴耐用品龙头，高端耐用产品立品牌、大众消费产品扩规模。 2)乐欣户外（H02046.HK）：全球领先钓鱼 ...

19 August 2025 | 11:35PM HKT Carol Chen +852-2978-7999 | carol.chen@gs.com Goldman Sachs (Asia) L.L.C. Xinyu Ruan +852-2978-7347 | xinyu.ruan@gs.com Goldman Sachs (Asia) L.L.C. Molly Dai +852-3966-4000 | molly.dai@gs.com Goldman Sachs (Asia) L.L.C. Anta Sports Products (2020.HK): Positive read-across from Amer: 2Q beat and guidance raise, continued solid China momentum; Buy (on CL) Amer Sports (AS, Buy, covered by our US Consumer analyst Brooke Roach) reported a solid 2Q beat and FY guidance raise against e ...

前十大沽空比率排行 前十大沽空偏离值排行 新鸿基地产-R(80016)、恒生银行-R(80011)、京东集团-SWR(89618)上一交易日沽空比率位于前三位，分 别为100.00%、95.70%、92.60%。腾讯控股(00700)、小米集团-W(01810)、阿里巴巴-SW(09988)的沽空 金额位居前三，分别为22.43 亿元、19.41 亿元、12.88 亿元。恒生银行-R(80011)、小米集团- WR(81810)、联想集团-R(80992)的偏离值位居前三，分别为47.89%、40.17%、35.95%。 | 股票名称 | 沽空金额 | 沽空比率↓ | 偏离值 | | --- | --- | --- | --- | | 新鸿基地产-R(80016) | 33.33 万元 | 100.00% | 35.46% | | 恒生银行-R(80011) | 114.43 万元 | 95.70% | 47.89% | | 京东集团-SWR(89618) | 85.67 万元 | 92.60% | 35.62% | | 联想集团-R(80992) | 91.34 万元 | 90.03% | 35.95% | ...

Market Overview - Hong Kong stocks experienced volatility, with the Hang Seng Index closing down 0.21% at 25,122.9 points and a total turnover of 278.2 billion HKD [1] - The Hang Seng China Enterprises Index fell 0.3% to 9,006.23 points, while the Hang Seng Tech Index decreased by 0.67% to 5,542.03 points [1] Blue Chip Performance - China Resources Beer saw a significant increase of 6.24%, closing at 28.28 HKD, contributing 4.24 points to the Hang Seng Index [2] - The company reported a revenue of 23.942 billion RMB, a year-on-year increase of 0.83%, and a net profit attributable to shareholders of 5.789 billion RMB, up 23.04% [2] - Other notable blue chips included Zhongsheng Holdings, which rose 8.29%, and Hansoh Pharmaceutical, which increased by 4.75% [2] Sector Performance - Large tech stocks showed mixed results, with Tencent up 0.94% and Alibaba down 0.25% [3] - AI application stocks performed well, with Zhihu-W rising 23% and Fenbi increasing by nearly 14% [3] - The property management sector was active, with Wanwu Cloud rising 7.19% and Sunac Services increasing by 5.18% [4][5] Earnings Reports - Wanwu Cloud reported a revenue of 18.14 billion RMB, a 3.1% year-on-year increase, and a core net profit of 1.32 billion RMB, up 10.8% [5] - Kancheng Pharmaceutical reported a revenue of 1.569 billion RMB, a 23.7% increase, and a net profit of 498 million RMB, up 24.6% [8] - Li Auto announced a revenue of 24.25 billion RMB, a 174% increase, with a gross margin of 14.1% [9] Notable Stock Movements - Dongfang Zhenxuan experienced a significant drop of 20.89%, closing at 34.32 HKD, following rumors regarding its CEO [12] - Gilead Sciences saw a decline of 15.01% after announcing a share placement and a new share subscription at a discount [13]

每经AI快讯，8月19日，港股体育用品概念股午后走高，特步国际(01368.HK)绩后涨超3%，李宁 (02331.HK)涨超2%，安踏体育(02020.HK)、滔搏(06110.HK)等个股跟涨。 ...

Core Insights - The article highlights the progress and achievements of the "Quality Strong Chain" initiative across various industries in China, emphasizing the importance of quality improvement in traditional and emerging sectors [2][4][6]. Group 1: Traditional Industries - Daqing Oilfield Lishen Pump Industry Co., Ltd. implemented highly automated equipment, resulting in over 3,000 processed products, a 40% cost reduction, and a 25% efficiency increase since its launch in May last year [1]. - Anta Sports Products Group and Karl May Sports Goods Co., Ltd. have transformed traditional manufacturing through smart factories, enhancing quality control and supply chain efficiency, with the Jinjiang shoe and clothing industry achieving an 11.4% increase in industrial added value [3][4]. - The Hebei Chaocheng Vanadium-Titanium New Materials Industry Chain has developed high-purity vanadium materials for various applications, addressing technological bottlenecks [4]. Group 2: Emerging Industries - The Shenyang Siasun Robot Automation Co., Ltd. has improved efficiency by over 20% through quality standards and testing systems for industrial robots, marking significant advancements in the robotics sector [5]. - The hydrogen energy industry in Shaanxi has established a quality infrastructure service system, promoting innovation and quality improvement in the sector [8]. - The Guangdong artificial intelligence project has developed over 30 standards and provided technical support to 129 companies, enhancing the quality and reliability of AI applications [9]. Group 3: Future Industries - The new generation of optical communication devices in Hubei has seen economic benefits of 6.57 million yuan through a quality management mechanism that involves chain leaders and suppliers [10]. - The advanced rail transit equipment industry in Zhuzhou has achieved a local supply rate of over 80% for core components, enhancing product quality and competitiveness [7].

| 股票名称 | 净流入(元)↓ | 净流入比 | 收盘价 | | --- | --- | --- | --- | | 中国人寿(02628) | 15.80 亿 | 34.91% | 23.620（+3.60%） | | 南方恒生科技(03033) | 7.68 亿 | 14.65% | 5.475（-0.90%） | | 阿里巴巴-W(09988) | 4.52 亿 | 4.38% | 121.800（-1.54%） | | 理想汽车-W(02015) | 3.49 亿 | 16.99% | 95.600（-1.60%） | | 友邦保险(01299) | 3.17 亿 | 13.84% | 76.900（+0.65%） | | 三生制药(01530) | 3.01 亿 | 18.77% | 31.960（+2.83%） | | 信达生物(01801) | 2.89 亿 | 18.07% | 96.000（+1.05%） | | 康方生物(09926) | 2.61 亿 | 15.28% | 164.200（+4.19%） | | 小鹏汽车-W(09868) | 2.50 亿 | 20.11% | 77. ...

周一，美股三大指数涨跌不一，恒生指数ADR下跌，按比例计算，收报25129.61点，较香港收市跌 47.24点或0.19%。 大型蓝筹股绝大多数下跌，汇丰控股收报99.979港元，较香港收市涨1.55%；腾讯控股收报586.613港 元，较香港收市跌0.07%。 | 序号 | 名称 | 瓶酸代码 | 嚴新价 | 2839530 | | 米原幅 ADRICH | ADRI@IC(HKD) | 設用服升跌 | 绘图般升跌9 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 周讯护服 | O 00700 | 587,000 | 60078 | GRAND | TCEHY | 586,613 | PO387 | 0.075 | | 2 | 阿里巴巴 W | 09988 | 118.600 | +0.500 | 0:42% | BABA | 118,660 | +0.060 | 0.059 | | 3 | 建设银行 | 00939 | 7.710 | 0.090 | 3.15% | CICHY | 7.706 | 90.004 | ...