2月13日，港股三大指数早盘震荡走低，截至午间收盘，恒指跌1.79%，恒科指跌1.65%，国企指跌 1.74%。港股消费板块午盘持续震荡，港股通消费ETF华夏（513230）现跌近0.7%，持续打开低位布局 通道。 消息面上，2月11日，国家统计局数据显示，1月份，居民消费需求持续恢复，居民消费价格指数 （CPI）环比上涨0.2%，同比上涨0.2%，扣除食品和能源价格的核心CPI同比上涨0.8%，环比近6个月最 高。1月份，全国工业生产者出厂价格（PPI）同比下降1.4%，降幅比上月收窄0.5个百分点；环比上涨 0.4%，涨幅比上月扩大0.2个百分点。 港股通消费ETF华夏（513230）跟踪中证港股通消费主题指数，该指数覆盖酒旅、餐饮等传统服务业龙 头，更包含潮玩、金饰等高弹性资产，以及运动服饰、白电等高股息标的。成分股近乎囊括港股消费的 各个领域，包括泡泡玛特、百胜中国、老铺黄金、安踏体育、农夫山泉、蜜雪冰城等消费龙头。 春节将至，年货消费线上线下同步发力，数据显示，抖音平台年夜饭相关产品成交额同比增长92%。截 至2月9日，在海底捞火锅团年聚餐的热度逐渐攀升，目前，全国海底捞已接到除夕用餐预订超5万桌。 ...

Core Insights - The "Qilu Agricultural Supermarket" platform has successfully connected farmers with consumers, addressing the challenges of low product value and limited sales channels faced by farmers in Shandong province [1][2][3]. Group 1: Market Dynamics - The "Qilu Agricultural Supermarket" platform has over 5,600 merchants and has achieved a cumulative online and offline transaction volume exceeding 200 million yuan as of January 2026 [2]. - The platform's "three-zero" policy (zero platform entry fee, zero transaction commission, and zero marketing service fee) has alleviated concerns for small and medium-sized businesses regarding high entry costs and profitability [4]. Group 2: Brand Development - The platform emphasizes brand building, as seen with Huiqu millet, which has successfully entered high-end supermarkets and achieved a price three times higher than ordinary millet due to effective branding strategies [5]. - The integration of resources and promotion strategies has shifted the focus from merely selling products to selling brands, enhancing market recognition and value [5]. Group 3: Sales Channels and Expansion - The platform has facilitated the expansion of local products like Zhao Zhuang peanuts and Mengyin peaches into broader markets, including major cities and even international markets [3][7]. - The participation in various promotional events and trade fairs has enabled companies to establish valuable customer relationships and significantly increase sales, as demonstrated by the success of Yantai's fish dumplings in entering the Guangdong market and exporting to countries like South Korea and Malaysia [8][9]. Group 4: Consumer Engagement - The "Qilu Agricultural Supermarket" has created a direct channel from producers to consumers, enhancing the shopping experience for consumers looking for quality local products during peak seasons like the Spring Festival [3][9]. - The platform's promotional activities have generated significant consumer interest, leading to a surge in sales during events like the "Shandong New Year Goods Festival" held in Beijing [9].

Core Insights - The article highlights the vibrant atmosphere of the upcoming Chinese New Year, emphasizing the efforts of retail companies to enhance consumer experience through innovative services and products [1] Group 1: Online Retail Strategies - Online platforms like Dongfang Zhenxuan are actively engaging with consumers to tailor their offerings for the New Year, utilizing live streaming to showcase popular products and meet specific consumer demands [2] - To ensure timely delivery of goods, Dongfang Zhenxuan has established long-term partnerships with core production areas and factories, implementing order agriculture to secure supply capacity and create emergency stock for essential goods [3] Group 2: Offline Retail Experience - In physical stores like Yonghui Supermarket, the festive atmosphere is created through decorations and product offerings, enhancing the shopping experience as a family-oriented emotional ritual [4] - Yonghui has developed a comprehensive supply strategy, planning three months in advance and selecting 30 core products based on historical data, while also adding around 120 additional items to meet diverse consumer needs [4] - The supermarket's operational efficiency is boosted by technology, with smart systems optimizing order picking and staffing adjustments to handle increased online orders during peak times [5] Group 3: Evolving Consumer Trends - The year-end market reflects changing consumer preferences, with companies like Hema Fresh introducing convenient meal options that blend traditional flavors with modern convenience, catering to the evolving demands for health and ease [6] - The article underscores the resilience of the retail market and the potential for domestic consumption, as both online and offline retailers collaborate to create a rich and engaging shopping experience for the New Year [6]

国信证券股份有限公司关于 无锡线上线下通讯信息技术股份有限公司 继续使用部分闲置超募资金进行现金管理的核查意见 国信证券股份有限公司（以下称"国信证券"）作为无锡线上线下通讯信息 技术股份有限公司（以下简称"公司"、"线上线下"）首次公开发行股票并在创 业板上市的保荐机构，根据《证券发行上市保荐业务管理办法》、《深圳证券交易 所创业板股票上市规则》（2025 年修订）、《深圳证券交易所上市公司自律监管指 引第 2 号——创业板上市公司规范运作》（2025 年修订）等相关法律、法规和规 范性文件的规定，对线上线下继续使用部分闲置超募资金进行现金管理的事项进 行了审慎核查，核查的具体情况如下： 一、募集资金的基本情况 经中国证券监督管理委员会《关于同意无锡线上线下通讯信息技术股份有限 公司首次公开发行股票注册的批复》（证监许可〔2021〕605 号）核准，线上线 下首次公开发行人民币普通股（A 股）股票 20,000,000 股，每股面值 1 元，每 股发行价格为人民币 41.00 元，募集资金总额为 82,000.00 万元，减除发行费用 （不含增值税）人民币 7,041.32 万元后，募集资金净额为 74,9 ...

证券代码：300959 证券简称：线上线下 公告编号：2026-006 无锡线上线下通讯信息技术股份有限公司 关于继续使用部分闲置超募资金及自有资金 进行现金管理的公告 根据公司已披露的《无锡线上线下通讯信息技术股份有限公司首次公开发行 股票并在创业板上市招股说明书》，公司首次公开发行股票募集资金扣除发行费 用后，将投资于以下项目： 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 无锡线上线下通讯信息技术股份有限公司（以下简称"公司"）于2026年2月 11日召开第三届董事会第十五次会议审议通过了《关于继续使用部分闲置超募资 金及自有资金进行现金管理的议案》，同意公司使用闲置超募资金进行现金管理 额度不超过人民币2亿元、使用闲置自有资金进行现金管理额度不超过人民币7 亿元，授权期限自2026年第一次临时股东会审议通过之日起12个月内，在前述额 度和期限范围内，可循环滚动使用。本议案尚须提交公司2026年第一次临时股东 会审议。具体情况如下： 一、募集资金的基本情况 根据中国证券监督管理委员会出具的《关于同意无锡线上线下通讯信息技术 股份有限公司首次公开发行股票 ...

证券代码：300959 证券简称：线上线下 公告编号：2026-007 无锡线上线下通讯信息技术股份有限公司 关于召开 2026 年第一次临时股东会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易所创业板 股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号—创业板上市公司规范运 作》等法律、行政法规、部门规章、规范性文件及《公司章程》的有关规定。 4、会议时间： （1）现场会议时间：2026 年 3 月 9 日 15:00 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2026 年 3 月 9 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投票的具 体时间为 2026 年 3 月 9 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的股权登记日：2026 年 3 月 3 日 7、出席对象： （1）截至股权登记日 2026 ...

证券代码：300959 证券简称：线上线下 公告编号：2026-005 无锡线上线下通讯信息技术股份有限公司 第三届董事会第十五次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 经审议，公司董事会同意公司自股东会审议通过之日起 12 个月内使用闲置超募 资金不超过人民币 2 亿元、自有资金不超过人民币 7 亿元进行现金管理。 具体内容详见公司同日在巨潮资讯网（www.cninfo.com.cn）披露的《关于继续 使用部分闲置超募资金及自有资金进行现金管理的公告》。 一、董事会会议召开情况 1、本次董事会由董事长夏军先生召集，会议通知于 2026 年 2 月 6 日以电子邮件 方式发出。 2、本次董事会于 2026 年 2 月 11 日在公司会议室以现场及通讯方式召开。 3、本次董事会应出席董事 5 名，实际出席董事 5 名。董事邹平学以通讯方式参 与会议。 4、本次董事会由董事长夏军先生主持，公司总经理、财务总监、董事会秘书列 席了本次董事会。 5、本次董事会会议的召集、召开符合《公司法》《公司章程》及相关法规的规 定。 二、董事会会议审议情况 ...

Core Insights - The article discusses the growth strategy of Guoquan Shihui, which has expanded from a single store to over 10,000 locations by integrating online and offline channels to cater to the "home dining economy" [4][19] Group 1: Breakthrough Strategy - Guoquan Shihui opened its first community store in Zhengzhou in 2017, targeting the family dining market by addressing the pain points of traditional food retail [4] - The company employs a model of "70 square meter stores + 3,000 households coverage," utilizing both in-store pickup and instant delivery to capture community traffic [4] - By 2022, the company had over 10,000 stores, with plans to reach 11,500 by 2025, covering 93% of cities and counties in China [5] Group 2: Integration of Supply Chain - The integration of online and offline operations is achieved through digital supply chain management and scenario-based operations [7] - The company utilizes 120 million member consumption data to guide upstream production, implementing a "sales-driven production" model [8] - An intelligent replenishment system reduces waste from 12% to 5% by analyzing sales, weather, and holidays [8] Group 3: Growth Engines - Guoquan Shihui's profitability model is based on three growth levers: scale effects, efficiency revolution, and ecological synergy [10] - The company focuses on 700 core SKUs, achieving significant cost reductions through bulk purchasing [12] - The logistics network has expanded to a 500-kilometer radius, reducing transportation costs by 25% [12] Group 4: Profitability Validation - In 2022, Guoquan Shihui achieved its first profit with a net profit of 240 million yuan, projected to reach 460 million yuan by 2025 [14] - The gross margin improved from 11.1% in 2020 to 22.1% in 2025, with a significant reduction in sales and management expense ratios [15] Group 5: Industry Insights - The company's experience highlights that the ultimate competitiveness in community retail lies in "supply chain efficiency × user reach density" [17] - The shift from "production-driven" to "demand-driven" supply chains is emphasized, along with the transformation of stores into experience centers [17] Group 6: Future Plans - In 2026, Guoquan Shihui plans to launch the "Community Central Kitchen 2.0" initiative, aiming to upgrade stores into community life centers within three years [19] - The strategy reflects a deep understanding of the essence of chain business, focusing on becoming an indispensable infrastructure for community life [19]

Core Viewpoint - The Beijing consumption market is vibrant and unique during the Spring Festival, showcasing a blend of traditional culture and modern experiences, inviting visitors to enjoy its charm and new vitality [1]. Group 1: Characteristics of Beijing's Consumption Market - The market features a rich cultural experience, allowing visitors to appreciate both the solemn elegance of royal celebrations at places like the Forbidden City and Temple of Heaven, as well as the lively atmosphere of traditional hutongs and modern art exhibitions [2]. - Culinary offerings are abundant, ranging from time-honored brands like Quanjude and Donglaishun to innovative local eateries, ensuring that visitors enjoy a warm and satisfying gastronomic experience [2]. - Winter sports activities, benefiting from the legacy of the Winter Olympics, provide diverse and enjoyable experiences for visitors, enhancing the charm of Beijing's winter [2]. - The city has improved its commercial facilities and deepened the integration of online and offline services, creating a more convenient and pleasant shopping environment for consumers [2]. Group 2: Measures for Ensuring Market Supply and Consumer Confidence - The city's business system has proactively prepared for the festival by ensuring sufficient supply and stable prices for essential goods, collaborating with various departments to create unique consumption scenarios and activities [2]. - Efforts are being made to maintain market order in collaboration with regulatory bodies, ensuring that visitors can shop with confidence and enjoy their holiday [3]. - The city is ready to welcome visitors with sincere offerings, abundant supplies, and high-quality services, allowing them to experience both traditional customs and modern innovations [3].

Core Viewpoint - Huiyan Zhito Technology Co., Ltd. is enhancing public financial risk awareness through a series of educational initiatives aimed at improving investor literacy, particularly during the year-end period [1][3]. Group 1: Investor Education Initiatives - The company has been committed to investor education since its establishment in 1995, focusing on public welfare, professionalism, and uniqueness [3]. - The investor education base has expanded its outreach by conducting offline activities in communities and campuses, responding to the call for increased financial literacy [3][4]. - A recent collaboration with multiple community departments in Wuhan resulted in a public legal education event that combined constitutional knowledge with practical financial skills, such as identifying financial fraud [3]. Group 2: Engagement with Youth - Huiyan Zhito organized an "ETF Knowledge Lecture" at Shanxi University, in collaboration with the Shanxi Securities Association and the Shanghai Stock Exchange, to educate students about exchange-traded funds (ETFs) [4]. - The lecture covered the operation, classification, and risks of ETFs, emphasizing the importance of rational investment and risk awareness among students [4]. - The interactive session demonstrated students' strong interest in investment practices and personal financial planning, highlighting the effectiveness of the educational approach [4].