每经记者｜王帆 每经编辑｜陈柯名 张喜威 胡玲 潘海福 标题点睛： 12月7日，外交部发言人就日方声称中国海军舰载机对日本自卫队战斗机"雷达照射"事答记者问表示：中国军队已就该问题阐明了严正立场。事实真相十 分清楚，日本战斗机对中方正常军事活动频繁抵近侦察干扰才是最大的海空安全风险。中方不接受日方所谓交涉，已当场驳回，并在北京和东京分别提出 反交涉。当前形势下，日方炒作所谓"雷达照射"问题，颠倒黑白、嫁祸于人，渲染紧张局势，误导国际社会，完全是别有用心。中方对此坚决反对。我们 强烈敦促日方立即停止滋扰中方正常演训活动的危险行为，停止一切不负责任的虚假炒作和政治操弄。 12月7日，2025创新药高质量发展大会在广州白云国际会议中心召开。《每日经济新闻》记者在现场了解到，2025年国家医保目录成功新增114种药品，其 中有50种是一类创新药，包括替尔泊肽、国产ADC（抗体偶联药物）芦康沙妥珠单抗等明星药物。商保创新药目录则覆盖了5款国产抗癌药CAR-T（嵌合 抗原受体T细胞免疫疗法）细胞药物、2款进口阿尔茨海默病药物及罕见病药物。据悉，如果自费使用CAR-T疗法，单次治疗费用超过百万元。 1 日方炒作所谓"雷达照 ...

Core Viewpoint - The announcement from Xiangyuan Cultural Tourism (600576.SH) addresses concerns regarding overdue payments on financial products linked to real estate projects with Xiangyuan Holdings, clarifying that the company is not responsible for any payment obligations related to these products [1][4]. Group 1 - The financial products in question are associated with a platform and involve real estate projects in collaboration with Xiangyuan Holdings, which, along with the actual controller, bears joint guarantee responsibility for the overdue payments [1][4]. - Xiangyuan Cultural Tourism and its subsidiaries are not involved in the overdue payments, and the company does not have any obligations for payment or guarantees related to these financial products [1][4]. - The company's operations are reported to be normal, and management has committed to maintaining independence from the controlling shareholder in various aspects, including assets and finances [1]. Group 2 - Other companies, including Jiaojian Co. (603815) and Haichang Ocean Park (02255.HK), have also issued announcements stating that they are not responsible for the overdue payments and have no obligations related to the financial products in question [4]. - A representative from Xiangyuan Group confirmed that the three listed companies do not bear any debts or provide guarantees, indicating no impact on their operations [4]. - Xiangyuan Group, founded in 1992, primarily focuses on cultural tourism investment and operations, with several subsidiaries including Xiangyuan Cultural Tourism, Jiaojian Co., and Haichang Ocean Park [4].

记者丨曾静娇 编辑丨刘雪莹 2、本次事件涉及的金融产品与祥源文旅及其参、控股子公司均无关，祥源文旅不承担任何兑付及担保 义务，公司亦未为任何金融理财产品的兑付提供担保或增信。 3、公司目前生产经营一切正常。公司管理层承诺遵照《上市公司治理准则》，确保与控股股东、实际 控制人在资产、人员、财务、机构及业务等方面的独立。 12月7日，祥源文旅（600576.SH）公告称，公司实际控制人承担连带保证责任的金融产品出现部分逾 期兑付的媒体报道并引发投资者关注。公司就相关事项向祥源控股及公司实际控制人进行了核实并进行 自查。为避免不实信息误导市场，保障投资者合法权益，现作如下说明： 1、在某平台发行的涉及与祥源控股地产合作项目的金融产品存在部分逾期兑付情形，祥源控股、公司 实际控制人就上述兑付义务承担连带保证责任。祥源控股及公司实际控制人正与相关方就逾期兑付的具 体情况进行沟通处理。 公司公告截图 此外，交建股份（603815）、海昌海洋公园（02255.HK）也发布公告进行说明。"在某平台发行的涉及 与祥源控股地产合作项目的金融产品存在部分逾期兑付情形，祥源控股、公司实际控制人就上述兑付义 务承担连带保证责任。祥源控 ...

每经记者｜黄鑫磊 每经编辑｜金冥羽 陈旭 12月7日，祥源文旅（SH600576，股价6.63元，市值69.92亿元）公告称，公司实际控制人承担连带保证责任的金融产品出现部分逾期兑付的媒体报道并引 发投资者关注。公司就相关事项向祥源控股及公司实际控制人进行了核实并进行自查。为避免不实信息误导市场，保障投资者合法权益，现作如下说明： 1、在某平台发行的涉及与祥源控股地产合作项目的金融产品存在部分逾期兑付情形，祥源控股、公司实际控制人就上述兑付义务承担连带保证责任。祥 源控股及公司实际控制人正与相关方就逾期兑付的具体情况进行沟通处理。 2、本次事件涉及的金融产品与祥源文旅及其参、控股子公司均无关，祥源文旅不承担任何兑付及担保义务，公司亦未为任何金融理财产品的兑付提供担 保或增信。 3、公司目前生产经营一切正常。公司管理层承诺遵照《上市公司治理准则》，确保与控股股东、实际控制人在资产、人员、财务、机构及业务等方面的 独立。 此外，交建股份（SH603815，股价12.08元，市值74.77亿元）、海昌海洋公园（HK02255，股价0.52港元，市值68.71亿港元）也发布公告进行说明。 据祥源控股官网，公司始创于1 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 HAICHANG OCEAN PARK HOLDINGS LTD. 海昌海洋公園控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：2255） 中華人民共和國上海，2025年12月7日 近日，網上出現有關本公司控股股東祥源控股集團有限責任公司（以下簡稱「祥源 控股」）、本公司實際控制人承擔連帶保證責任的金融產品出現部分逾期兌付的媒 體報道（以下簡稱「相關事項」）。本公司就相關事項向祥源控股及本公司實際控制 人進行了核實並進行自查。為避免不實信息誤導市場，保障投資者合法權益，現 作如下說明： 1 1、 在某平台發行的涉及與祥源控股地產合作項目的金融產品存在部分逾期兌付 情形，祥源控股、本公司實際控制人就上述兌付義務承擔連帶保證責任。祥 源控股及本公司實際控制人正與相關方就逾期兌付的具體情況進行溝通處理。 2、 本次事件涉及的金融產品與本集團及其股份無關，本集團不承擔任何兌付及 擔保義務，亦未為上述金 ...

Core Insights - The report highlights three core trends in the consumer services industry: "New Recovery, New Ecology, and New Supply" [6] - Structural factors are aiding certain sectors in stabilizing and improving operations, indicating a gradual recovery from the bottom [7] - The integration of online platforms with offline operations is reshaping the industry ecosystem, enhancing competition and operational efficiency [8] Industry Overview - The consumer services sector has seen a slight revenue increase of 2.57% year-on-year, totaling 183.23 billion yuan in the first three quarters of 2025, despite a 12.7% decline in net profit [20][22] - The sector's performance has been mixed, with tourism and education sectors showing significant growth, while the hotel and restaurant sectors faced slight declines [16][19] New Recovery - The hotel industry is experiencing a rebound due to increased tourism demand and a stabilization in average daily rates (ADR), with occupancy rates showing signs of improvement [31][57] - The Macau gaming market has shown strong recovery, with gross gaming revenue (GGR) reaching 24.086 billion MOP in October 2025, driven by non-gaming attractions [32][44] - The duty-free market is benefiting from policy optimizations, with sales in Hainan reaching 2.425 billion yuan in October 2025, reflecting a 34.86% year-on-year increase [32][38] New Ecology - Major players like Alibaba, Meituan, and JD.com are competing in the instant retail space, each leveraging their strengths to enhance online and offline integration [42] - The restaurant industry is witnessing a shift towards standardized and professional supply chains, with the chain restaurant rate increasing from 15% in 2020 to 23% in 2024 [46][48] New Supply - The tourism sector is transitioning from a "sightseeing + ticket" model to one focused on content innovation and immersive experiences, with companies like Sanxia Tourism and Haichang Ocean Park leading this change [50][53] - The sports industry is evolving to combine spectator and participatory sports, creating new social engagement opportunities through digital platforms [54] Investment Recommendations - Key recommendations include focusing on leading hotel chains like Jinjiang Hotels and ShouLai Hotels, and monitoring companies with strong supply chain advantages in the restaurant sector [6][8] - The report suggests that innovative companies in tourism, sports, and education sectors, particularly those utilizing AI and content innovation, are worth attention for potential growth [8][50]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 海昌海洋公園控股有限公司 (於開曼群島註冊成立之有限公司) 呈交日期: 2025年12月1日 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02255 | 說明 | | 海昌海洋公園 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 13,214,002,000 | | | | 13,214,002,000 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | | | | 13,214,002,000 | | 0 | | 13,214,002,0 ...

Global Tourism Development Trends - The tourism industry is expected to grow at a rate higher than economic growth, driven by international leisure travel and long-distance trips [2] - Factors contributing to this trend include enhanced air connectivity and relaxed visa policies [2] - From 2024 to 2025, the share of the U.S. in global international leisure travel is projected to decrease from 8% to 7% [2] Regional Tourism Insights - **Netherlands**: Amsterdam Schiphol Airport saw approximately 6 million passengers in October, a 3% increase compared to the previous year, indicating healthy inbound tourism demand [3] - **Germany**: Significant recovery in the tourism market with a 20% increase in German tourists visiting Cyprus in October 2025 [4] - **Australia**: The tourism market showed positive growth, with major cultural and sports events attracting international visitors [6] - **Singapore**: Welcomed 14.3 million visitors in the first ten months of the year, a 3% increase year-on-year, driven by major events [7] - **Vietnam**: Received 1.73 million international visitors in October 2025, a 22.1% year-on-year increase, with a total of nearly 17.2 million visitors in the first ten months [8] - **China**: Domestic travel during the National Day and Mid-Autumn Festival saw 888 million trips, with total spending reaching 809 billion yuan, a significant increase from the previous year [9] Corporate Developments - **Personnel Changes**: Five tourism companies experienced significant personnel changes in October, including the resignation of Xi'an Tourism's board member [11] - **Investment and Equity Changes**: 32 tourism companies reported investment and equity changes, including ST United's sale of a 100% stake in Jiangxi Guogui Cultural Tourism Development [15][16] Key Project Signings and Developments - A total of 222 key tourism projects were signed in October, including the opening of two ski resorts in Xinjiang and the construction of a high-end tourism resort in Zhangjiajie [21][22] - China’s first surfing-themed resort is set to open in Hainan, enhancing the region's tourism offerings [23] - Major investments include a 20 billion yuan resort project in Guangdong and an 8.5 billion yuan project in Changbai Mountain [25][26] Industry Performance Metrics - The media and new media indices for tourism companies showed slight increases, with a focus on personnel changes and project developments [39] - The investor confidence index remained stable, reflecting ongoing project signings and developments in the tourism sector [40]

Core Viewpoint - Haichang Ocean Park Holdings Limited reported significant revenue growth due to the autumn holiday in Zhejiang Province and marketing activities for the seventh anniversary of Shanghai Haichang Ocean Park [1] Group 1: Revenue Performance - Shanghai Haichang Ocean Park experienced a substantial revenue increase of 35.2% year-on-year from November 10 to November 16, 2025 [1] - During the same period, two theme hotels achieved full occupancy [1] - From November 17 to November 23, the park's revenue continued to rise, with a year-on-year increase of 14.6% [1]

Core Viewpoint - Haichang Ocean Park (02255) reported significant revenue growth due to the implementation of autumn breaks in Zhejiang Province and the marketing activities celebrating the seventh anniversary of Shanghai Haichang Ocean Park [1] Group 1: Revenue Performance - Shanghai Park experienced a substantial week-on-week revenue increase of 35.2% from November 10 to November 16, 2025, with both theme hotels achieving full occupancy [1] - From November 17 to November 23, 2025, the park's revenue continued to rise, showing a week-on-week increase of 14.6% [1] Group 2: Market Context - Zhejiang Province has implemented a comprehensive spring and autumn break system for primary and secondary schools, benefiting over 6 million students across 11 cities [1] - Many regions scheduled the autumn break in mid-November, creating a five-day holiday that aligns with weekends [1] Group 3: Strategic Focus - As Shanghai Park approaches its seventh anniversary on November 18, 2025, it has gained recognition for its unique marine culture and innovative integration with Chinese culture and local characteristics [1] - The park has been consistently ranked among the top twenty theme parks in the Asia-Pacific region and aims to enhance visitor experience and brand influence by closely monitoring holiday market trends and consumer preferences [1]