| 交易日期 | 证券代码 | 证券简称 | 成交价格 (元) | 成交量 (万股/万份) | 成交全额 (万元) | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | 2026-01-19 | 002697 | 红旗连锁 | 6.00 | 60.00 | 360.00 机构专用 | | 中信建投证券股份 | | | | | | | | | 有限公司福州东街 | | | | | | | | | 证券营业部 | | 2026-01-19 | 002697 | 红旗连锁 | 6.00 | 33.50 | 201.00 机构专用 | | 中信建投证券股份 | | | | | | | | | 有限公司福州东街 | | | | | | | | | 证券营业部 | | 2026-01-19 | 002697 | 红旗连锁 | 6.00 | 34.00 | | 204.00 华泰证券股份有限 | 中信建投证券股份 | | | | | | | | 公司广东分公司 | 有限公司福州东街 | | | | | | | | | 江关营业部 | 1月 ...

专题：《实战派》 野人先生创始人崔渐为在《实战派》栏目中表示，直营和加盟不是对立的，蜜雪冰城就活得很好。野人 先生创始人崔渐为：直营和加盟不是对立的，蜜雪冰城就活得很好 野人先生创始人崔渐为坚信直营与加盟绝非对立。他直言："野人先生早年开的那些店都是直营店。我 们是2024年才开始做加盟的，之前全是直营店。"崔渐为称："茶饮这些年的高速发展，让品牌方和加盟 者都已经变得成熟了。茶饮这么多品牌，这么多上市企业，无论蜜雪、古茗，这都是我们很好的老师， 那都多少年了？蜜雪二十七八年了得，对吧？不是做加盟吗？人家不是活的很好吗？哪有什么势能下 降，古茗上市以后表现非常好，我自己都想买古茗股票。所以本质上还在于说这个团队是不是用心地想 要把一个事做好，其他的并不重要，直营和加盟从来不是矛盾对立的，怎么合适都可以采用，都有好的 地方。" 野人先生创始人崔渐为在《实战派》栏目中表示，直营和加盟不是对立的，蜜雪冰城就活得很好。野人 先生创始人崔渐为：直营和加盟不是对立的，蜜雪冰城就活得很好 野人先生创始人崔渐为坚信直营与加盟绝非对立。他直言："野人先生早年开的那些店都是直营店。我 们是2024年才开始做加盟的，之前全是直营店 ...

近期，头部品牌不约而同地盯上了香蕉。 蜜雪冰城一口气推出3款香蕉新品，茶颜悦色的香蕉新品，直接冲进内测门店销量前三。 从去年7月至今，古茗、瑞幸、1点点、茉酸奶、雅克雅思、楼下酸奶等品牌也都借香蕉推新。 在饮品圈坐了多年冷板凳的香蕉，为什么突然被关注？ 蜜雪、瑞幸、茶颜都在上，香蕉成饮品圈"开年热点" "被香蕉新品硬控了！"社交平台上，类似的感叹越来越多。 刚开年，蜜雪冰城一口气推出3款香蕉饮品：香蕉撞奶、香蕉酸奶、香蕉拿铁，还打出"喝香蕉，'蕉'好运"的广告语，配合"门店购买香蕉新品，抽好运上 上签"的营销动作，吸引不少消费者尝鲜。 香蕉撞奶、香蕉酸奶主打0茶0咖，用香蕉结合乳品，再分别搭配芋圆、啵啵小料，覆盖全年龄段。网友评价"口感浓郁，有新鲜的香蕉味，香蕉爱好者的 福音"。 尽管有人反馈"小料加持下甜度偏高"，依然成社交平台的打卡热门。蜜雪冰城官方小红书账号顺势推出"复刻香蕉撞奶"教程，进一步放大新品声量。 1月9日，茶颜悦色官宣内测两款香蕉产品。 香蕉果乳茶"冬日骄阳"，用红茶搭配椰乳，覆盖香蕉慕斯顶，喝起来像"暖乎乎的香蕉椰奶可丽饼"；另一款是香蕉果茶"雪后来信"，以特调思路呈现，香 蕉果茶底搭配香 ...

跻身《2025胡润中国独角兽毕业榜》的蓉企分别是新易盛、科伦博泰生物、中航无人机、成都华微、佳 驰科技、德康农牧、华图山鼎、茶百道、雷电微力、天味食品、侨源股份、康诺亚、振芯科技、富森 美、博美、极米科技、红旗连锁、天立国际控股。 上榜的独角兽"毕业生"分布于全国126个城市，总价值达到24万亿元，平均年龄19岁，比2025胡润全球 独角兽榜上的中国独角兽企业年长9岁，近一半企业在2020年之后上市。 从行业分布来看，上榜企业数量最多的前五大行业分别是半导体、工业设备、生物科技、新能源和软件 服务行业，总计占比46%。从企业价值来看，前五大价值最高的行业分别是半导体、新能源、工业设 备、消费电子和生物科技。 转自：成都日报锦观 中国独角兽毕业榜首次发布 18家蓉企上榜 本报讯 （成都日报锦观新闻记者 杨富） 记者昨日获悉，胡润研究院近日首次发布《2025胡润中国独角 兽毕业榜》，该榜单列出了中国独角兽"毕业生"，即成立于2000年之后、价值10亿美元以上的上市公 司。全国共796家企业上榜，成都18家企业上榜，位居全国第七。 ...

Group 1 - The 2025 Hurun China Unicorn Graduation List identifies 796 companies that have graduated as unicorns, valued at over $1 billion, established after 2000 [1][3] - Chengdu ranks seventh in the number of listed companies, with 18 enterprises making the list [1][4] - The total value of these unicorn graduates across China reaches 24 trillion RMB, with an average establishment year of 2006 and an average age of 19 years [2][3] Group 2 - The top five industries by the number of listed companies are semiconductors, industrial equipment, biotechnology, new energy, and software services, accounting for 46% of the total [3] - The highest valued industries are semiconductors, new energy, industrial equipment, consumer electronics, and biotechnology [3] - Among the 796 unicorn graduates, 33 companies are valued over 100 billion RMB, with 3 exceeding 1 trillion RMB [3][4] Group 3 - Chengdu's notable companies include: - Xinyi Technology (New Easy Win) ranked 44th with a valuation of 82 billion RMB in telecommunications [2][5] - Kelong Botai Biotechnology ranked 55th with a valuation of 11 billion RMB in biotechnology [2][5] - Zhonghang Unmanned Aerial Vehicle ranked 149th with a valuation of 30 billion RMB in robotics [2][5] - Chengdu Huami and Jiachitech both ranked 236th with valuations of 21 billion RMB in semiconductors and new materials respectively [2][5] - Other notable companies include Dekang Agriculture Technology, Huatuo Shanding, and Tea Hundred Road, with valuations ranging from 13 billion to 19 billion RMB [2][5]

1月15日，红旗连锁跌1.38%，成交额3.50亿元。两融数据显示，当日红旗连锁获融资买入额2925.05万 元，融资偿还3293.69万元，融资净买入-368.64万元。截至1月15日，红旗连锁融资融券余额合计3.35亿 元。 截至12月10日，红旗连锁股东户数6.86万，较上期增加5.19%；人均流通股16699股，较上期减少 4.93%。2025年1月-9月，红旗连锁实现营业收入71.08亿元，同比减少8.48%；归母净利润3.83亿元，同 比减少1.89%。 分红方面，红旗连锁A股上市后累计派现15.62亿元。近三年，累计派现9.26亿元。 机构持仓方面，截止2025年9月30日，红旗连锁十大流通股东中，香港中央结算有限公司位居第四大流 通股东，持股3522.85万股，相比上期减少1997.74万股。南方中证1000ETF（512100）位居第十大流通 股东，持股622.61万股，相比上期减少25.05万股。 责任编辑：小浪快报 融资方面，红旗连锁当日融资买入2925.05万元。当前融资余额3.35亿元，占流通市值的3.84%，融资余 额超过近一年70%分位水平，处于较高位。 融券方面，红旗连锁1月1 ...

Summary of the Conference Call Transcript Industry Overview - **Industry**: China Consumer Sector - **Outlook**: The sector is believed to be in the early stage of a multi-year recovery cycle that began in Q3 2024, with expectations for gradual improvement in consumer sentiment and spending through 2026E [2][11][12] Key Insights - **Valuation**: MSCI China Consumer Discretionary and Staples are trading at 17x and 15x 12-month forward PE, approximately one standard deviation below the 10-year averages, indicating that current valuations do not reflect a potential consumption recovery [2][9] - **Consumer Confidence**: The China Consumer Confidence Index has been trending upwards since September 2024, suggesting a gradual restoration of consumer confidence despite ongoing challenges in the property market [12][19] - **K-shaped Recovery**: The recovery is characterized by a K-shaped trend, where mid- to high-income consumers in tier-1 cities are expected to lead spending, while lower-tier city consumers remain focused on value for money [3][48] Consumer Behavior Trends - **Shifting Preferences**: A UBS Evidence Lab survey indicates a divergence in consumer behavior, with over 50% of mid- to high-income consumers reporting investment gains and showing strong spending intentions, particularly in premium and experiential categories [3][37] - **Spending Intentions**: The strongest spending intentions are noted in beauty and skincare (41%) and tourism (37%), reflecting a shift towards experiential and premium spending [51] - **Investment Gains**: 64-74% of mid- to high-income consumers reported increased investment returns, with many planning to reinvest or spend on travel, health services, and consumer electronics [40][41] Stock Implications - **Company Ratings**: - Upgrades to Neutral for Fenjiu due to expected benefits from non-business baijiu consumption - Buy ratings maintained for companies like MIXUE, Guming, China Foods, CR Beer, and YUM China, among others [4] - **Dividend Payouts**: Premium baijiu companies are noted for their >75% dividend payout, which is expected to protect share prices from downside risks [4] Structural Growth Opportunities - **Emerging Themes**: Key investment themes for 2026E include changing consumer preferences, corporate restructuring, and industry consolidation, particularly in sectors like home appliances and mass-market consumption [14][50] - **Corporate Restructuring**: Companies are expected to adapt their business models to align with changing consumer behaviors, which may lead to sustainable long-term earnings growth [4][50] Risks and Challenges - **Property Market Downturn**: The ongoing downturn in the property market is anticipated to weigh on household balance sheets, potentially impacting consumer spending [13][48] - **Policy Support**: The pace of recovery is contingent on stabilizing the property market and effective policy implementation to boost consumption [13][48] Conclusion - The China consumer sector is poised for a recovery, driven by improving consumer confidence and shifting spending patterns. However, the recovery will be uneven across different income groups and city tiers, necessitating a nuanced investment approach to capture emerging opportunities while being mindful of potential risks associated with the property market downturn.

从蜜雪"美国版"可选200%糖开始，全网展开了一场关于"美国奶茶有多甜"的讨论。 上周日，一条#被美国奶茶含糖量惊到#的视频冲上热搜，一杯饮品半杯都是糖的画面，震惊千万网友。 美国人真的这么爱甜吗？我采访了10家出海茶饮品牌，结果令人大跌眼镜。 01 一杯饮品半杯都是糖？ "美国奶茶含糖量"冲上热搜 近日，一则"美国蜜雪冰城糖度"的讨论，在社交平台一石激起千层浪。 相关话题连登热搜，其中最火的是#被美国奶茶含糖量惊到了#： "蜜雪200%的糖，其实都是算少了"，该视频中，一杯速来得日常饮品，加入了焦糖浆、白砂糖、奶油、肉桂糖、巧克力冷奶泡等原料。 随后多个短视频博主跟进该话题，内容如"一份蛋糕叠加4层糖浆"，"一杯咖啡先用四分之一白糖打底，再来上四分一焦糖，最后再加上牛奶咖啡液点 缀"，"吃西瓜也是如此，先裹上一层软糖、再蘸上一层糖浆，最后再撒上糖霜"。 这些视频动辄数万点赞量，让更多博主跟风讨论，一时间，"美国人爱甜如命"刷新网友认知。 "国内甜到发齁的士力架竟然是减糖版"、"美国人喝可乐都要再加糖"等说法越传越离谱。 在健康饮食日益受关注的当下，美国作为经济发达的国家，其消费者真的普遍不在意控糖吗？ 美国 ...

"我们很早就关注到NFC产业链，但一直苦于没有杀手级应用出现。支付宝最近日支付峰值已经超过1亿 笔，它用最简单的方式解决了用户教育和场景覆盖两大痛点。"上述研究总监向记者分析道，"从支付到 社交，从开门到点餐，应用场景的极大丰富，将NFC从低频应用推向高频，市场空间被数十倍地放 大。" 与此同时，部分机构人士也提示，需警惕短期资金炒作风险，应着眼于公司技术实力与生态绑定的长期 价值，区分真实受益标的与题材跟风个股。 中证报中证网讯(记者罗京)1月12日，A股科技板块延续强势，多只与"碰一下"支付相关的概念股走势突 出。受支付宝"碰一下"功能日均支付笔数过亿等消息催化，资金对NFC(近场通信)产业链关注度显著提 升，相关个股成交放量、股价走高。 截至当日收盘，消费电子龙头蓝思科技（300433）上涨10.26%，成交额逾120亿元；NFC安全芯片供应 商复旦微电上涨9.84%，全天成交额达24.8亿元；红旗连锁（002697）上涨6.62%，呈现活跃走势。市场 分析指出，支付宝"碰一下"功能的快速普及，正在激活智能手机中存量NFC功能的应用潜力，并带动上 游芯片、材料等环节的订单预期。 一位公募基金TMT研究总 ...

Core Viewpoint - The general retail sector experienced a significant increase of 2.46% on January 12, with Juran Zhijia leading the gains, reflecting positive market sentiment in the retail industry [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4165.29, up by 1.09% [1]. - The Shenzhen Component Index closed at 14366.91, up by 1.75% [1]. - Juran Zhijia's stock price rose to 3.28, marking a 10.07% increase, with a trading volume of 2.2853 million shares and a transaction value of 731 million yuan [1]. Group 2: Individual Stock Performance - Other notable performers included: - Maoye Commercial, closing at 7.69 with a 10.01% increase and a trading volume of 520,000 shares [1]. - Sanjiang Shopping, closing at 17.25 with a 10.01% increase and a transaction value of 1.16 billion yuan [1]. - Chongqing Department Store, closing at 29.01 with a 10.01% increase and a transaction value of 1.142 billion yuan [1]. - Dashang Co., closing at 20.05 with a 9.98% increase and a transaction value of 762 million yuan [1]. Group 3: Capital Flow - The general retail sector saw a net outflow of 257 million yuan from institutional investors, while retail investors contributed a net inflow of 299 million yuan [2]. - The capital flow for key stocks included: - Sanjiang Shopping had a net inflow of 277 million yuan from institutional investors, while retail investors had a net outflow of 130 million yuan [3]. - Juran Zhijia experienced a net inflow of 206 million yuan from institutional investors, with retail investors seeing a net outflow of 125 million yuan [3]. - Dashang Co. had a net inflow of 151 million yuan from institutional investors, with retail investors experiencing a net outflow of approximately 794 million yuan [3].