Core Insights - Keep has been recognized for its comprehensive brand protection by being included in the "Beijing Key Trademark Protection Directory" across three categories: fitness services, application software, and smart hardware [1][2] Group 1: Trademark Recognition - The inclusion of Keep's trademarks in the directory signifies the company's high market visibility and brand value in the fitness technology sector [1] - The directory aims to protect registered trademarks that hold significant market leadership and social influence [1] Group 2: Company Achievements - Keep's recognition reflects its long-term investment in fitness services, technological innovation, and product development [2] - The company has received multiple accolades, including being named one of the "Top Ten Copyright Holders" by the China Copyright Protection Center in 2021 and recognized as a "2023 Intellectual Property Advantage Unit" by the Beijing Intellectual Property Bureau [2] Group 3: Business Model and Offerings - Keep App, launched in 2015, focuses on providing professional fitness guidance and a variety of online courses, including yoga and training sessions [2] - The company offers a one-stop sports solution that combines software and hardware, including smart exercise bikes and treadmills, as well as health food products [2] Group 4: Future Strategy - Keep aims to enhance its strategic layout by improving course professionalism and diversity, increasing investment in smart hardware R&D, and utilizing AI and big data for personalized fitness solutions [3] - The company has set a ten-year vision to become a platform for one billion athletes, emphasizing its commitment to promoting fitness and expanding its global presence [3]

Core Viewpoint - Keep has been recognized for its comprehensive brand coverage in the fitness technology industry by being included in the "Beijing Key Trademark Protection Directory" across three categories: fitness services, application software, and smart hardware [1][2]. Group 1: Trademark Recognition - The "Beijing Key Trademark Protection Directory" aims to protect registered trademarks that are highly recognized, market-leading, and have significant brand value in Beijing [1]. - Keep's inclusion in the directory reflects its long-term investment in fitness services, technological innovation, and product development [2]. - The evaluation process for the directory was conducted by the Beijing Trademark Association, utilizing a strict selection from a pool of experts from various authoritative institutions [1]. Group 2: Company Overview - Keep App was launched in 2015, focusing on providing professional fitness guidance services and has adopted the brand philosophy of "Discipline gives me freedom" [2]. - The company offers a variety of online courses, including classes in yoga and training, as well as value-added services like customized training plans [2]. - Keep has expanded its offerings to include smart fitness equipment and health products, creating a one-stop solution for users' fitness needs [2]. Group 3: Strategic Developments - In 2021, Keep upgraded its brand philosophy to "Discipline gives me the joy of freedom" and successfully went public on the Hong Kong Stock Exchange in July 2023 [3]. - The company aims to inspire every workout and has set a ten-year vision to become a "free sports field for 1 billion athletes" [3]. - Keep plans to enhance its strategic layout by improving course professionalism and diversity, increasing investment in smart hardware, and utilizing AI and big data to provide personalized fitness solutions [3].

Group 1 - Keep was awarded the AAA Famous Trademark Brand Evaluation Certificate by the China Trademark Association on December 31, 2025, becoming the first brand in the sports technology industry to receive this honor [1] - The AAA evaluation is a recognized standard in the domestic trademark brand field, covering five dimensions: law, management, market, finance, and social responsibility, assessed through 5 primary indicators, 18 secondary indicators, and 42 tertiary indicators, symbolizing the company's leading position and high brand recognition in the industry [1] - Keep App was launched in 2015 with the brand philosophy of "Discipline gives me freedom," focusing on providing professional fitness guidance services, including various online courses and value-added services [1] Group 2 - In 2021, Keep introduced the slogan "Discipline gives me the joy of freedom," encouraging users to enjoy exercise, and successfully listed on the Hong Kong Stock Exchange in July 2023, becoming the "first stock in sports technology" [2] - In March 2024, Keep updated its mission and vision to "Inspire every movement, making the world vibrant," aiming to become "the free sports field for 1 billion athletes" over the next decade by expanding sports categories and improving service quality [2] - In March 2025, Keep launched a specialized model in the sports health vertical, Kinetic.ai, and introduced the first general AI coach, Kaka, which customizes training plans based on user needs, enhancing the intelligence of fitness guidance [2] Group 3 - The award of the "AAA Famous Trademark Brand" recognizes Keep's deep commitment to the fitness service sector and reflects its ongoing strategy of promoting professionalism and quality [3] - Moving forward, Keep will continue to deepen course development and the construction of intelligent service systems, utilizing AI and big data technologies to enhance the scientific and personalized nature of fitness guidance, aiming to provide professional and convenient fitness services to more users [3] - Keep is committed to supporting the development of national fitness initiatives and promoting Chinese sports technology brands on a global scale [3]

Core Insights - Keep has been awarded the AAA Famous Trademark Brand Evaluation Certificate by the China Trademark Association, becoming the first brand in the sports technology industry to receive this honor, which reflects its leading position and high brand recognition in the market [1][4]. - The AAA evaluation is a rigorous assessment based on five dimensions: law, management, market, finance, and social responsibility, utilizing 5 primary indicators, 18 secondary indicators, and 42 tertiary indicators [1][4]. - Keep's app, launched in 2015, focuses on providing professional fitness guidance services, offering a variety of online courses and value-added services tailored to user needs [1][4]. Company Developments - In 2021, Keep introduced the slogan "Discipline gives me the freedom to be happy," encouraging users to enjoy exercise [2][5]. - Keep went public on the Hong Kong Stock Exchange in July 2023, becoming the "first stock in sports technology" [2][5]. - In March 2024, Keep updated its mission and vision to "inspire every movement and make the world vibrant," aiming to become "the free sports field for 1 billion athletes" over the next decade [2][5]. Technological Advancements - In March 2025, Keep launched the Kinetic.ai model, a specialized tool in the sports health vertical, and introduced the first universal AI coach, Kaka, which customizes training plans based on user needs [2][5]. - The recognition as an AAA Famous Trademark Brand underscores Keep's commitment to professionalization and quality in fitness services [2][5]. Future Plans - Keep plans to deepen course development and enhance its intelligent service system, leveraging AI and big data to improve the scientific and personalized nature of fitness guidance [2][5]. - The company aims to provide professional and convenient fitness services to a broader audience, contributing to the development of national fitness initiatives and promoting Chinese sports technology brands globally [2][5].

为促进旅游休闲绿道高效利用，北京市文化和旅游局联合Keep、高德地图、携程、美团、去哪儿旅 行、微博等多个平台，搭建"北京旅游休闲绿道"专属页面与品牌馆，市民和游客只需在平台搜索关键 词，即可一键获取52条旅游休闲绿道攻略、周边服务设施、活动报名等信息。 2026年，北京市文化和旅游局将打造"周度常态、月度集中、季度特色、常年持续"的线上线下 （300959）活动体系，为市民和游客提供趣味打卡、主题活动指引等多元服务。未来，北京还将推进旅 游休闲绿道服务提质与体验升级，着力把旅游休闲绿道打造成市民和游客探索大京郊的首选路线、文旅 消费的新增长极。 此次北京市文化和旅游局携手园林绿化、水务、体育、农业农村等部门及各区政府，推出首批52条旅游 休闲绿道，覆盖全市各区，布局合理、风景优美、设施基本完善，可满足市民游客漫步赏景、跑步骑 行、亲子游玩、文化探访等多种需求。 本报电(记者赵珊)2026年伊始，北京发布"漫步绿道畅游北京"北京旅游休闲绿道品牌，并推出首批52条 旅游休闲绿道，丰富市民和游客的休闲生活，提升首都文旅休闲品质。 ...

Core Insights - Keep's stock opened slightly higher, increasing by 2.8% to HKD 4.02, with a trading volume of HKD 3.577 million [1] - Since the launch of the "All in AI" strategy in February 2025, Keep has been continuously iterating and expanding its AI products [1] - The AI coach Kaka has evolved from a basic training plan customization feature to a comprehensive intelligent companion system covering all stages of exercise [1] Product Development - Kaka was first launched in March 2025, initially focusing on customizing training plans based on user needs and providing basic Q&A support [2] - By May 2025, Kaka underwent significant updates, adding features such as intelligent workout plan generation, training guidance, exercise and diet tracking, and image recognition with voice feedback [2] - Subsequent updates in July and September enhanced course recommendations, Q&A capabilities, and introduced AI voice running companions, as well as gym scenario support and multi-coach modes [2] - By November, a body measurement coach module was added, expanding the metrics to include sleep, muscle capacity, and posture improvement [2] User Engagement - According to the annual service report, Kaka has customized workout plans for 1.32 million users and supported them in completing 340,000 training plans [1][2] - The calorie recognition feature has identified over 3.5 million food images, while users have completed nearly 400 million training sessions and over 24 million yoga sessions [1] - Kaka has accompanied over 8.35 million runners, generating nearly 30 million running route sketches and covering a total distance of over 81 million kilometers [1] Future Developments - Keep is expected to launch Kaka version 1.0, introducing a new visual identity for the AI coach aimed at enhancing its technological appeal and user-friendliness [2] - The upgrade will include an improved interactive interface and dynamic feedback to provide a more unified and engaging intelligent companion experience for users [2]

Core Viewpoint - The Beijing tourism and leisure greenway brand has been officially launched, introducing the first batch of 52 greenways that cover all districts in the city [1] Group 1: Brand Launch and Coverage - The Beijing tourism and leisure greenway brand was launched during the New Year holiday, featuring 52 greenways [1] - These greenways are designed to enhance tourism and leisure activities across all districts in Beijing [1] Group 2: Collaborative Platforms - The Beijing Municipal Bureau of Culture and Tourism collaborated with platforms such as Keep, Amap, Ctrip, Meituan, Qunar, and Weibo to create a dedicated page and brand hall for the greenways [1] - Users can easily access information about the greenways, including strategies, surrounding facilities, and event registrations by searching relevant keywords on these platforms [1] Group 3: Engagement Activities - Keep has introduced a special check-in activity for the tourism and leisure greenways, allowing participants to earn points through scanning codes and logging their activities [1] - Points can be used for lottery draws and to redeem Keep merchandise and themed physical awards related to the greenways [1] - Participants who collect all 52 virtual badges can exchange them for a themed physical medal [1]

Core Insights - The launch of the "Beijing Tourism Leisure Greenway" brand and the introduction of the first 52 greenways aims to enhance the integration of culture, tourism, agriculture, forestry, and water resources in Beijing [1][2] Group 1: Greenway Development - The first batch of 52 tourism leisure greenways has been officially released, covering all districts in Beijing with a focus on beautiful scenery and well-equipped facilities [1] - The greenways are designed for various activities such as walking, running, cycling, family outings, and cultural exploration, providing excellent pathways and platforms for leisure [1] Group 2: Digital Integration and Engagement - The Beijing Cultural and Tourism Bureau has partnered with platforms like Keep, Amap, Ctrip, Meituan, and Weibo to create a dedicated page for the "Beijing Tourism Leisure Greenway," allowing users to easily access information about the greenways [1] - Keep has launched a special check-in activity for the greenways, where participants can earn points through scanning codes and engaging in physical activities, which can be redeemed for prizes [1] Group 3: Event Experience and Future Plans - The event featured interactive experiences led by certified coaches and smart robots, combining sports, culture, and technology for an immersive experience [2] - The Cultural and Tourism Bureau plans to establish a comprehensive online and offline activity system to provide diverse services, enhancing the quality and experience of the greenways [2] - Future efforts will focus on improving the quality of services and experiences related to the greenways, aiming to make them a preferred choice for exploring the outskirts of Beijing and a new growth area for cultural tourism consumption [2]

Investment Rating - The report maintains a "Recommendation" rating for the consumer services industry, indicating an expected increase in the industry index by more than 5% over the next 3-6 months compared to the benchmark index [41][43]. Core Insights - The report highlights the positive impact of Hainan's customs closure and the winter sports season on service consumption, predicting a robust demand for hospitality and travel services in 2026. Notably, Hainan's first week of duty-free shopping post-closure saw sales of 1.1 billion RMB, with year-on-year growth of 54.9% [4]. - The report anticipates a significant increase in domestic ski and ice tourism ticket bookings, with a projected year-on-year growth of approximately 70% from November 2025 to February 2026 [4]. - Key investment targets include hotels with balanced supply and demand, human resources services, the duty-free sector, and internet platforms that integrate online and offline operations [4]. Industry Basic Data - The consumer services industry comprises 55 listed companies with a total market capitalization of 498.8 billion RMB and a circulating market capitalization of 457.1 billion RMB [1]. Market Performance - The consumer services sector experienced a decline of 1.05% in the week from December 22 to December 26, 2025, while the overall A-share market rose by 2.77% [7][10]. - The report notes that the hospitality sector, including hotels, saw varied performance, with some companies like Green Tea Group and Dingdong Maicai showing significant gains [16][19]. Important Announcements - Key announcements from companies in the consumer services sector include share buybacks and financial updates, such as Guilin Tourism's court ruling to recover illegal profits of 52.15 million RMB [31][30]. Upcoming Shareholder Meetings - Several companies in the consumer services sector have scheduled shareholder meetings in the upcoming month, including Nanjing Commercial Travel and Changbai Mountain [34].

Core Insights - The "Qihang·2025 Financial Summit" was successfully held in Beijing, focusing on the theme of "New Starting Point, New Momentum, New Journey," gathering hundreds of leaders and guests from various sectors including regulatory bodies, industry associations, financial institutions, and media [1] - Keep was awarded the "Investment Value Listed Company" at the 14th Financial Industry "Golden Wisdom Award" annual selection, which aims to set benchmarks for high-quality development and guide listed companies to focus on their core business and social responsibility [3] Company Overview - Keep is recognized as a leading sports technology platform in China, capitalizing on the trend of health consumption upgrades by creating an integrated sports ecosystem that combines content, hardware, and services [3] - As of the end of 2024, Keep has over 400 million registered users and 100 million annual active users, with continuous iterations of smart products like treadmills, smart wristbands, and smart bikes to meet diverse exercise needs [4] Strategic Transformation - In 2025, Keep will undergo a significant strategic transformation from a content-driven platform to an AI-enabled, data-driven intelligent fitness service entity, enhancing its competitive edge and sustainable development [4] - This transformation aims to elevate online fitness services from "personalized recommendations" to a new stage of "intelligent generation," providing users with more precise and tailored fitness solutions [4] Global Expansion - Keep is accelerating its global expansion, having launched multiple AI applications overseas, with plans to increase investment in international markets and broaden its business scope [4] Technological Empowerment - Under the guidance of the "Artificial Intelligence+" national strategy and the "Healthy China 2030" initiative, Keep will leverage its decade-long experience in sports data to deepen technological empowerment and build a robust intelligent fitness service system [4] - The company aims to continuously expand its business boundaries and enhance core competitiveness, tapping into the growing trend of public health development to unlock greater growth potential [4]