Group 1 - The sports sector increased by 0.75% on November 3, with Zhongti Industry leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] - Zhongti Industry's closing price was 9.37, reflecting a 0.75% increase, while Lisheng Sports closed at 14.93, up 0.74% [1] Group 2 - The sports sector experienced a net outflow of 16.24 million yuan from institutional funds and 2.55 million yuan from retail funds, while individual investors saw a net inflow of 18.79 million yuan [1] - Lisheng Sports had a net inflow of 0.82 million yuan from institutional funds, but a net outflow of 0.37 million yuan from retail funds [1] - Zhongti Industry faced a significant net outflow of 17.06 million yuan from institutional funds, with a net inflow of 19.25 million yuan from retail funds [1]

证券日报网讯力盛体育10月31日发布公告，在公司回答调研者提问时表示，首先，国家鼓励体育产业和 体育赛事体育企业发展，要培养有国际影响力的体育企业和体育赛事IP。市场对体育赛事有较大的需 求，有许多各种火爆的体育赛事门票一票难求，这些赛事丰富了居民文化生活，带动了城市品牌，更重 要的是刺激了新增的体育服务消费。其次，生命在于运动，体育不仅关系健康生活，体育也和文化旅游 商业紧密融合，对公司也有许多启示，公司的体育业务可以和更多的文化旅游商业结合在一起。公司将 在国家鼓励的大背景下，沿着公司的既定战略，持续推进大体育产业布局，为体育强国贡献力量，也努 力提升公司价值，为股东创造良好的投资回报。 （文章来源：证券日报） ...

Core Viewpoint - Lisheng Sports announced its strategic investment in the Hainan International Circuit, expecting it to generate revenue by 2027, leveraging the unique advantages of the Hainan Free Trade Port [2] Group 1: Investment and Financials - The company has invested 184 million yuan of its own funds to initiate the project construction, with plans to continue financing through a refinancing process currently under review by the exchange [2] - The expected operational commencement of the Hainan Circuit is projected to fill the winter event gap and serve the Asia-Pacific region [2] Group 2: Strategic Importance - The Hainan International Circuit is positioned as a new landmark for international events, benefiting from Hainan's climate, tariff policies, and global accessibility [2] - The company emphasizes the strategic significance of this project within its broader business layout in the Hainan Free Trade Port [2]

Core Viewpoint - Lisheng Sports announced on October 31 that its event business growth logic is multidimensional with significant potential for exploration [2] Group 1: Business Growth Strategies - The company aims to enrich the number of event IPs, increase the number of event stops, and expand the number of participating teams [2] - Strengthening event operations and enhancing event influence are key strategies to drive ticket sales and monetize IP cultural products [2] - The addition of advertising sponsorships and realization of media copyright value are also critical components of the growth strategy [2] Group 2: Profitability and Margins - The trend of gross profit margins in event operations is expected to improve as the value of events continues to rise [2] - There is potential for further improvement in the current gross profit margin situation [2]

Core Insights - Lisheng Sports announced that its revenue fluctuations in event operations are related to the seasonal distribution of events, with a concentration of domestic racing events in Q2 2025 and a slight decrease in Q3 2024 compared to Q3 2023, leading to different business volumes in Q3 [2] - Despite the seasonal changes, the overall event operations continued to show growth in Q3 [2] - Venue operations experienced a decline in certain segments due to adjustments and suspensions starting from the end of Q3 2024, but the overall growth for the first three quarters of 2025 remained positive, with event operations compensating for the short-term impacts of venue adjustments [2]

证券之星消息，10月31日体育板块较上一交易日上涨1.3%，力盛体育领涨。当日上证指数报收于 3954.79，下跌0.81%。深证成指报收于13378.21，下跌1.14%。体育板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | --- | | 002858 | 力盛体育 | 14.82 | 2.21% | | 6.55万 | | 9701.80万 | | 600158 | 中体产业 | 9.30 | 1.09% | | 21.71万 | | 2.02 Z | 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 | | | | 代码 名称 主力净流入 (元) 主力净占比 游资净流入 (元) 游资净占比 散户净占比 | | | | | --- | --- | --- | --- | --- | --- | --- | | 002858 力盛体育 | -313.70万 | -3.23% | -1 ...

Company Overview - Lisheng Yundong (Shanghai) Sports Technology Co., Ltd. is a leading automotive sports service provider in China, focusing on the marketization of sports events and the digital upgrade of the sports industry [2]. - The company’s main business includes sports event management, venue operation, marketing services, sports club management, and sports equipment manufacturing and sales [2]. Financial Performance - In the first three quarters of 2025, the company achieved a revenue of CNY 380 million, a year-on-year increase of 14.34% [2]. - The net profit attributable to shareholders reached CNY 22.02 million, up 56.07% year-on-year [2]. - In Q3 2025, the company reported a revenue of CNY 109 million, a slight decline of 1.07% year-on-year, while the net profit attributable to shareholders surged by 1482.24% to CNY 6.70 million [2][3]. Business Dynamics - Revenue fluctuations in Q3 2025 were attributed to the seasonal distribution of events, with fewer races compared to Q2 2025 and Q3 2024 [3]. - Venue operations experienced a decline due to adjustments and suspensions of certain venue operations since Q3 2024, but overall growth was maintained in the first three quarters of 2025 [3]. Growth Drivers - The growth of the core event business is driven by multiple factors, including increasing the number of event IPs, enhancing event participation, and boosting ticket sales through improved event influence [4]. - The gross margin of event operations is expected to improve as the value of events increases, indicating potential for further enhancement [4]. Future Prospects - The company is optimistic about the commercialization of its golf events, which are still in the early stages of operation, and anticipates significant growth in the future [5]. - The national push for a CNY 7 trillion sports industry and the encouragement of event economy integration with cultural tourism are seen as beneficial for the company’s strategic direction [6]. Strategic Initiatives - The company has invested CNY 184 million in the construction of the Hainan International Circuit, expected to contribute revenue by 2027 [7]. - Future growth will focus on expanding event categories and investing in related sectors such as sports marketing, venue management, and sports technology [8].

标配（首次） 以赛事驱动本土体育万亿市场 体育行业深度报告 2025 年 10 月 30 日 分析师：邓升亮 SAC 执业证书编号： S0340523050001 电话：0769-22119410 邮箱： dengshengliang@dgzq.com.cn 证 券 研 究 报 告 消费者服务行业 体育及户外品牌指数走势 资料来源：iFind，东莞证券研究所 投资要点： 相关报告 本报告的风险等级为中风险。 本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 请务必阅读末页声明。 深 度 研 究 行 业 研 究 ◼ 体育经济潜力大，中国体育产业快速发展。全球体育产业蓬勃发展，到 2033年全球体育市场规模有望达到8千亿美元级别。在体育赛事的全球 化、数字化与IP化推动下，体育产业已成为消费中增长最稳健的领域之 一。在当前全球错综复杂的宏观环境下，体育产业有望成为推动服务消 费、拉动经济增长的重要抓手。参照欧盟经验，2019年欧盟体育产业整 体GDP乘数效应达到1.62，同时，2019年欧盟体育产业创造的就业岗位 达到927.46万个，约占欧盟总就业的3.8%。相较 ...

Core Viewpoint - Lisheng Sports has experienced a decline in stock price recently, with a year-to-date increase of 27.01% and a notable drop in the last five trading days [1][2] Financial Performance - For the period from January to September 2025, Lisheng Sports achieved a revenue of 380 million yuan, representing a year-on-year growth of 14.34%, and a net profit attributable to shareholders of 22.02 million yuan, which is a 56.07% increase compared to the previous year [2] - The company has cumulatively distributed 16.42 million yuan in dividends since its A-share listing, with no dividends distributed in the last three years [3] Stock Market Activity - As of October 30, Lisheng Sports' stock price was 14.53 yuan per share, with a market capitalization of 2.382 billion yuan [1] - The stock has seen a net outflow of 7.37 million yuan from major funds, with significant selling activity [1] - The company has appeared on the "Dragon and Tiger List" once this year, with a net purchase of 29.86 million yuan on September 8 [1] Shareholder Information - As of September 30, 2025, the number of shareholders increased to 19,200, with an average of 7,645 circulating shares per person, a decrease of 4.48% from the previous period [2] - Among the top ten circulating shareholders, Jin Ying Core Resource Mixed A increased its holdings by 600,000 shares [3]

Core Insights - The event "2025 National Cultural and Tourism Listed Companies Shanghai Tour" highlighted the growing importance of the cultural and tourism industry in boosting consumer spending, with nearly 100 listed companies participating in the event [5][6] - Shanghai is positioning itself as a core area for future cultural and tourism industry development, with a focus on investment and consumption [5][6][13] Industry Development - Shanghai has developed a unique urban tourism resource over 40 years, characterized by urban, comprehensive, and international tourism [6] - The cultural and tourism sector in Xu Hui District is projected to exceed 150 billion yuan in revenue by 2024, accounting for over 20% of the city's total [6] - The Shanghai International Tourism Resort has established a "full-domain tourism" development model centered around Disneyland, enhancing the tourism industry in Shanghai and Pudong New Area [6] New Business Models - Companies are integrating "IP + AI + consumption" to drive growth in the cultural and tourism sector, with significant projects planned in Shanghai [7] - The Xu Hui District has introduced policies supporting cultural and creative industries, offering up to 30 million yuan in funding [8] - The industry is shifting from traditional tourism to a focus on lifestyle and emotional value, with an emphasis on technology integration [9] Investment Opportunities - The event underscored the importance of urban renewal projects in the cultural and tourism sector, with Shanghai's mature market and innovative environment facilitating new project development [11] - Companies are eager to collaborate on projects in micro-vacation, cultural creative districts, and digital tourism [11][12] - The discussion around investing in Shanghai's cultural and tourism sector has gained traction, with many companies expressing interest in future investments [13]