转自：扬子晚报 看花灯、赏春梅、买发簪、吃火锅，欢欢喜喜过大年。2月18日—2月20日，一个由19名德国游客、2名 北马其顿游客和1名奥地利游客组成的欧洲旅游团来宁，度过了一个令他们印象深刻，喜庆热闹的"中国 年"。 欧洲旅游团游览中华门 "我非常喜欢南京的明城墙，它看上去太壮观了！"2月19日16:00，德国游客弗洛里安参观了中华门城堡 的藏兵洞后，又兴致勃勃地爬上城墙，来到巨大的"聚宝小蓝马"新春艺术装置前打卡合影。他告诉记 者，自己是第一次来中国。"南京这座城市很漂亮，路上张灯结彩，看到了很多红灯笼和巨大的花灯， 特别有节日气氛。南京人民很热情友好，一路上玩得很开心，导游也对我们十分关照。"他说。 欧洲旅游团走在老城南的街道上。 欧洲旅游团的客人们拿着南京地标冰箱贴，非常开心。 德国游客玛丽娜迫不及待地向伙伴们"晒"出她刚刚入手的梅花发簪，爱不释手。"我非常喜欢中国的传 统文化。走在南京的街头和景区，看见很多女孩子穿着汉服，戴着各种各样的发簪，特别好看。上午游 览明孝陵的时候，又看到梅花山五彩缤纷，简直太美了！导游告诉我们梅花是南京的市花，我特意去挑 了一支梅花发簪，打算回国送给朋友，相信她一定会很喜欢 ...

Group 1 - The article highlights the top three companies with the highest AH premium rates: Northeast Electric (00042) at 785.25%, Beijing Jingcheng Machinery Electric (00187) at 291.45%, and Sinopec Oilfield Service (01033) at 284.04% [1] - The bottom three companies with the lowest AH premium rates are CATL (03750) at -16.62%, WuXi AppTec (02359) at -6.17%, and China Merchants Bank (03968) at -3.27% [1] - The article provides a detailed ranking of the top ten and bottom ten AH stocks based on their premium rates and deviation values, indicating significant disparities in market valuations between A-shares and H-shares [1][2] Group 2 - The top three companies with the highest deviation values are Beijing Jingcheng Machinery Electric (00187) at 23.16%, Dongjiang Environmental Protection (00895) at 18.78%, and Zhongzhou Securities (01375) at 16.54% [1] - Conversely, the companies with the lowest deviation values include Morning Paper (01812) at -52.60%, Junda Co., Ltd. (02865) at -34.18%, and Changfei Optical Fiber Cable (06869) at -34.18% [1][2] - The article emphasizes that the deviation value represents the difference between the current premium rate and the average premium rate over the past 30 days, providing insights into market trends [2]

Core Viewpoint - Hainan province has launched a "warm-hearted service action" during the Spring Festival to enhance the holiday experience for tourists, providing various supportive measures across tourist attractions [2][5]. Group 1: Service Initiatives - A total of 177 "warm-hearted service stations" and 89 "consumer rights protection points" have been established across 74 tourist attractions rated 3A and above, offering services such as complaint consultation, hot water, and emergency medicines [2]. - In popular areas like Day Month Bay, Stone Plum Bay, and Shenzhou Peninsula, detailed parking guides have been released, and free parking lots have been opened to facilitate visitor access [3]. - The Yanuoda Rainforest Cultural Tourism Area has employed guides to assist visitors with children, enhancing the overall visitor experience [3]. Group 2: Community Support - A notable incident involved a local shop owner in Sanya who helped a distressed tourist family when a child fell ill, showcasing the community's willingness to assist visitors [4]. - Another tourist expressed gratitude towards a travel agency employee and a tour guide for their attentive service, highlighting the personal touch that enhances the travel experience [5]. Group 3: Special Activities - Sanya initiated a "Spring Festival exclusive surprise delivery" event, where volunteers greeted arriving tourists at the airport and train station with gift packages, creating a warm welcome [5]. - The China (Hainan) South China Sea Museum extended its opening hours to 9:30 PM and added a temporary parking lot to address visitor parking challenges [5]. Group 4: Visitor Sentiment - Tourists have expressed their appreciation for the warm-hearted services and community support, indicating a positive impact on their overall experience in Hainan [6].

三亚市公安局交通管理支队 关于海棠区海棠北路及周边道路 实施交通管制的通告 春节期间，三亚国际免税城、亚特兰蒂斯及周边各大酒店将迎来大批客流，为缓解海棠北路及周边道路 的交通压力，保障市民游客出行顺畅，根据道路实际情况，三亚市公安局交通管理支队决定适时启动临 时交通管制措施，现将有关事项通告如下： 一、管制时间 2026年2月16日至3月4日期间，将根据实时道路承载能力及周边停车场车辆停放情况，启动临时交通管 制。具体管制时段以现场交警指挥和沿路指示标牌为准。 二、管制路段及绕行路线 1.龙海路（藤桥路交叉口至海棠北路交叉口）禁止通行，途经车辆请绕行藤桥路。 2.海棠北路（龙海路交叉口至风塘路交叉口）禁止通行，途经车辆请绕行龙江路、林旺南路、风塘路。 三、大中型货运车辆限行措施 （二）海棠北路与椰林路交汇处临时停车场，仅提供停车服务，可在地图软件搜索"三亚国际免税城临 时停车场"导航前往。 五、网约车管理要求 海棠北路和龙海路禁止网约车停靠及上落客，违反相关规定的，交警部门将依法予以处罚，请各网约车 驾驶员自觉遵守交通法规。 因交通管制造成的不便，敬请广大市民游客理解支持。 特此通告 三亚市公安局交通管理支队 ...

Group 1 - The core point of the news is the expansion of the cdf Haikou International Duty-Free City, which has opened new stores and launched cultural activities to attract consumers during the first Spring Festival after the Hainan Free Trade Port's closure operation [1][3]. - The Haikou City Duty-Free Store has officially opened, featuring 17 new brand stores, including the first duty-free store for Zhou Li Fu and the first flagship store for Chun Guang, contributing to a significant increase in consumer traffic [1]. - The "Caishen Arrival" themed cultural event will start on February 15, featuring interactive activities and cash prizes to enhance consumer engagement and stimulate spending [3]. Group 2 - During the festival, a series of activities such as lion dances, traditional music performances, and whiskey museum events will be held to create a festive atmosphere [5]. - The duty-free city is offering various promotional measures, including discounts and exclusive coupons, with the maximum reduction for duty-free purchases reaching 4,000 yuan [5]. - The integration of first-store openings with festive cultural IP aims to innovate the shopping experience and establish a new consumption destination that combines shopping with local cultural characteristics [5].

Core Viewpoint - The opening of the new duty-free store by China Duty Free Group at Beijing Capital International Airport marks a significant upgrade in the duty-free shopping experience, enhancing the commercial services and consumer experience at this international aviation hub [1][11]. Group 1: Store Features - The new duty-free store spans 10,000 square meters and is organized into multiple themed areas, featuring a wide range of products including cosmetics, luxury goods, beverages, and food [4]. - The store design emphasizes a bright and spacious environment, creating an immersive global shopping atmosphere with well-organized product displays and warm lighting [4]. Group 2: Customer Experience - Travelers have shown enthusiasm for the store, with reports of significant discounts, such as 40% off on popular skincare products, enhancing the appeal of shopping at the new location [8][11]. - Special promotional activities, including limited-time discounts on best-selling items, are being offered during the peak travel season, further attracting customers [11]. Group 3: Brand Partnerships and Future Plans - China Duty Free Group has established long-term partnerships with approximately 1,600 renowned global brands, ensuring a rich resource of products and stable supply capabilities [15]. - The company plans to collaborate with brands to launch exclusive and limited-edition products, catering to diverse consumer needs and enhancing the shopping experience [15]. Group 4: Regional Economic Impact - The opening of the duty-free store is seen as a reflection of the enhanced commercial consumption capabilities in the Shunyi District, contributing to Beijing's development as an international consumption center [15].

《中国民航报》、中国民航网 记者张丰蘩 通讯员李霄琳、杨函泽 报道：2026春运期间，大兴机场围 绕"好吃、好住、好行、好游、好购、好玩"六大核心方向，深度融合春节年俗与航空出行，推出"归兴 肆见""兴兴陪你过大年"等系列促消费活动，通过打造沉浸式消费场景、发放惠民优惠券，全力激活春 运消费市场一池春水，让旅客在"新国门"感受浓浓年味与出行便利。 大兴机场将传统年俗搬进航站楼，在国内候机区核心区域打造"归兴肆见"新春市集。市集以"互动体验 +便民消费"为载体，汇聚各类京味美食与文创好物，满足旅客"一站式"年货采购需求。现场还特别设置 打卡集章、彩绘扇面、吉祥拓印、食玩DIY等特色互动体验区，将候机时光转化为一场生动的文化之 旅。市集活动不仅为旅客传递旅途暖意，更实现服务体验与商业效益的双重提升。 此外，大兴机场持续与基地航司深化协同联动，联合中国东方航空推出"一张登机牌"专属权益活动。充 分利用东航快线C指廊资源优势，整合周边餐饮、零售及休闲商户，旅客凭东航登机牌即可享受专属消 费优惠，实现"航空出行+机场消费"无缝衔接，有效带动区域商户的进店率、销售额，让"一张登机 牌"成为旅客手中的"超值通行证"。（编辑 ...

Core Viewpoint - The offshore RMB has strengthened significantly, breaking the 6.89 mark, driven by reduced expectations for Fed rate hikes, continuous foreign capital inflow, and steady improvement in the Chinese economy, making RMB a focal point in the market [1] Group 1: Aviation Industry - The aviation sector is highly sensitive to exchange rates, with costs for aircraft, fuel, and parts typically settled in USD; RMB appreciation reduces financial burdens for companies [4] - China National Airlines, China Southern Airlines, and China Eastern Airlines benefit from this appreciation, with China National Airlines' USD debt constituting 60% of its liabilities, leading to significant profit increases with every 1% rise in RMB [4] - China Southern Airlines, due to its large fleet, sees even more pronounced profit increases, while China Eastern Airlines also experiences improved profitability from reduced fuel costs and exchange gains [4] Group 2: Paper Industry - The paper industry is directly impacted by RMB appreciation, as pulp prices are closely tied to USD, with over 60% of pulp imported; a stronger RMB effectively lowers raw material costs [4] - Companies like Sun Paper, which has a high self-sufficiency rate, can see immediate profit increases with slight RMB appreciation, while others heavily reliant on imports, such as Hengda New Materials, benefit significantly from reduced cost pressures [4] Group 3: Outbound Tourism - The outbound tourism sector reacts quickly to exchange rate changes; a stronger RMB makes international travel, including flights and accommodations, more affordable, increasing consumer interest [5] - China Duty Free Group stands out as a major beneficiary, with rising demand for duty-free shopping, while China Youth Travel Service also benefits from improved product value and increased orders due to RMB appreciation [5] Group 4: Financial Sector - The financial sector is an indirect beneficiary of RMB strength, attracting foreign capital, particularly from funds focused on long-term asset allocation [5] - Major banks like Industrial and Commercial Bank of China maintain stable profits, while retail banks like China Merchants Bank see increased foreign holdings; China Ping An benefits from the appreciation of overseas investments when converted to RMB [5] Group 5: Market Sentiment and Future Outlook - The recent RMB appreciation signals a shift in investor sentiment, moving from passive observation to active evaluation of Chinese asset safety and value [6] - The sustainability of this appreciation and its ability to translate into real profits for companies remains uncertain, but if it continues, sectors like aviation, paper, tourism, and finance could enter a new valuation cycle [7] - The market's response to the RMB's strength reflects a broader confidence returning, with questions about how long this confidence can last and its potential impact on corporate earnings [7]

Market Overview - The market performance is generally poor before major holidays due to concerns about potential issues during the break, with the Hang Seng Index dropping by 1.72% [1] - The U.S. non-farm payroll data exceeded expectations, causing the probability of a Fed rate cut in March to plummet from 20% to 8%, which could negatively impact the stock market if the upcoming CPI data is also unfavorable [1] - The Nasdaq experienced a significant drop of over 2% due to AI-related fears, leading to a chain reaction where investors sold gold to cover margin calls, despite no fundamental deterioration in gold [1] AI and Technology Sector - The subscription service GLM Coding Plan by Zhihui (02513) announced a price increase due to strong market demand, with user growth and usage volume rapidly increasing [2] - Zhihui's GLM-5 model ranks first in three major agent evaluation benchmarks, and its coding capabilities are approaching those of Claude Opus 4.5, indicating a strong competitive position [2] - MiniMax+ (00100) also saw a rise of over 15%, both companies reaching historical highs, with expectations of foreign capital focusing on driving up stock prices after the Spring Festival [2] Automotive Industry - The Ministry of Industry and Information Technology is soliciting opinions on mandatory national standards for intelligent connected vehicles, which will replace the previous recommended standards [3] - The new standards will introduce safety guarantees and certification systems, establishing product access conditions and detailing technical indicators and simulation testing requirements [3] - Companies in the intelligent driving sector, such as Nari Technology (01316) and Zhejiang Shibao (01057), experienced stock price increases following the announcement [3] Robotics Sector - MicroPort Robotics-B (02252) reported that its core product, the Tumi laparoscopic surgical robot, has surpassed 200 global commercial orders, with successful surgeries conducted in nearly 10 countries [4] - The company has achieved a 100% success rate in nearly 800 remote surgeries, leading to a stock price increase of over 11% [4] - Other companies in the robotics field, such as Yujia Technology (02515) and UBTECH (09880), also saw stock price increases following MicroPort's announcement [4] Metals Sector - Reports indicate that Trump is considering reducing tariffs on aluminum products, which could provide opportunities for the aluminum sector during the adjustment period [5] - The aluminum sector experienced a notable drop, but the current aluminum premium in the U.S. indicates that tariff costs are primarily borne by American consumers rather than foreign producers [6] - Potential tariff reductions could positively impact U.S. aluminum demand, suggesting a neutral to slightly bullish outlook for the aluminum sector [6] Consumer Sector - China Duty Free Group (01880) reported strong sales data following the opening of Hainan's duty-free market, with sales reaching 1.106 billion yuan during the Spring Festival [7] - The company is set to implement zero-tariff policies for daily consumer goods and has planned multiple promotional activities to boost sales [7] - A significant acquisition of DFS in the Greater China region and strategic investment from LVMH is expected to enhance the company's market position and resource access [7]

Core Viewpoint - The opening of the duty-free store by China Duty Free Group at Beijing Capital International Airport marks a new phase in the development of duty-free commerce in the region, enhancing the shopping experience for travelers and showcasing the airport's commercial value as a major hub in the Asia-Pacific region [1][4]. Group 1: Opening Ceremony and Significance - The duty-free store officially opened on February 11, 2026, with a ceremony attended by key executives from China Tourism Group and Capital Airport Group, symbolizing a significant milestone in the airport's duty-free commercial landscape [1]. - The event featured traditional elements such as lion dancing, highlighting the cultural significance of the occasion [1]. Group 2: Product Offering and Experience Enhancement - China Duty Free Group will leverage its global supply chain and partnerships with approximately 1,600 international brands to provide a diverse product range, stable high-end supply, and competitive pricing at the airport [7]. - The store will feature a variety of popular brands in categories such as cosmetics and beverages, including Estee Lauder, La Mer, and Macallan, with nearly a thousand best-selling products available to meet travelers' diverse and high-quality consumption needs [7]. Group 3: Promotional Activities - To celebrate the opening, China Duty Free Group launched a promotional campaign offering discounts on fragrance products starting at 60% off and on food and beverages at 85% off until March 29 [11]. - Registered members during the promotional period can earn double points, with a maximum of 400 points available per person per day [11]. Group 4: Future Plans and Vision - The company aims to continuously optimize product structure and enhance service quality to provide a more convenient and high-quality shopping experience for both domestic and international travelers [13]. - With the increase in international flights, the company plans to use the airport as a key hub to upgrade the duty-free shopping experience, contributing to the development of Beijing as an international exchange center [15].