长期主义的较量：银发经济的价值重塑与生态构建

Core Insights - The "Silver Economy" is transitioning from a passive defense strategy against aging population issues to an active development strategy, indicating a significant market opportunity in a trillion-yuan sector [1] - By 2025, the scale of the Silver Economy in China is expected to exceed 9 trillion yuan, accounting for 6% of GDP, with a projected compound annual growth rate of 15.7% until 2035 [2] Industry Overview - As of 2025, 76 non-financial listed companies in the A-share market are deeply engaged in Silver Economy-related businesses, showcasing a diverse strategic approach [1] - The main participants in the Silver Economy can be categorized into three groups: pharmaceutical health leaders, technology enablers, and cross-industry entrants, all targeting the needs of the elderly population [1][6] Policy Support - The Chinese government has elevated the Silver Economy to a strategic position, with multiple policies aimed at promoting its development, including financial support for eligible elderly care projects and the establishment of a supportive policy network [3][4] - Local governments have also initiated specific policies to support the Silver Economy, with significant investments in areas such as community care and talent training [3] Market Dynamics - The number of enterprises related to the Silver Economy has reached approximately 531,300, with a notable increase in new registrations, indicating strong market vitality [5] - Emerging business models such as "Silver + Culture and Tourism" and "Silver + Education" are gaining traction, reflecting the rapid integration of digital technologies in the sector [5] Company Strategies - Pharmaceutical companies are leading the Silver Economy, expanding their focus from drug sales to comprehensive health service chains that include prevention, treatment, and rehabilitation [6][10] - Companies like China Resources Sanjiu are leveraging their strengths in the pharmaceutical sector to create a full-cycle health service ecosystem, while also exploring innovative products tailored for the elderly [11][12] Financial Performance - Companies that have strategically positioned themselves in the Silver Economy are experiencing significant revenue growth, with some firms reporting double-digit profit increases [10] - The focus on chronic disease management and rehabilitation services is becoming a key growth area for many pharmaceutical companies, with plans to enhance their market presence by 2028 [10] Challenges and Opportunities - Despite the promising outlook, the Silver Economy faces challenges such as supply shortages, talent gaps, and the need for innovative service models to meet the diverse needs of the elderly [11][12] - Leading companies are exploring integrated solutions that combine products, services, and care, aiming to create a more comprehensive approach to elderly care [12]