——新消费行业周报（2026.3.9-2026.3.13）：老铺黄金发布盈利预告；乐舒适纳入港股通名单-20260315

Investment Rating - The investment rating for the industry is "Positive" (maintained) [4] Core Viewpoints - The report highlights the robust growth of new consumption sectors, driven by the evolving consumption concepts of the younger generation in the current social environment [20] - Key companies to watch include high-quality domestic brands in beauty care such as Mao Ge Ping and Shangmei Co., as well as leading brands in the ancient gold sector like Laopu Gold and Chaohongji, and strong tea brands like Mixue Group and Guming [20] Summary by Relevant Sections Industry Performance - The new consumption sector showed a decline in performance with the Shenyuan Beauty Care index down by 1.22%, the Shenyuan Retail index down by 1.69%, and the Shenyuan Social Services index down by 0.82% during the week of March 9 to March 13, 2026 [8] Key Company Updates - Laopu Gold announced a profit forecast for 2025, expecting sales revenue (including tax) of approximately 31-32 billion yuan, a year-on-year increase of about 216%-227% [5] - Le Shushi was included in the Hong Kong Stock Connect list, which is expected to attract more mainland capital into the Hong Kong market [5] - Shangmei Co. anticipates a revenue contribution of 9.1-9.2 billion yuan for 2025, representing a year-on-year growth of 34%-35.4% [5] Investment Analysis Opinions - The report emphasizes the importance of understanding new consumption narratives to capture the growth of new consumption companies [20] - Recommendations include focusing on brands with strong professional and innovative capabilities in beauty care, ancient gold brands favored by younger consumers, companies with successful IP creation and operation in trendy toys, and leading tea brands with strong brand power and wide coverage [20]