Group 1 - The core viewpoint emphasizes that after breaking through key points, the stock market still has room for growth, with a focus on growth sectors rather than indices [1][2] - The reduction in the risk-free interest rate and the shift in expectations for the RMB from depreciation to stability or slight appreciation are significant drivers for the revaluation of Chinese assets [1][2] - The article highlights the importance of macro policies that prioritize investor returns and capital market reforms, which are crucial for changing investors' conservative attitudes towards risks [1][2] Group 2 - Economic policies and innovation support are expected to improve risk appetite and drive growth performance, with new business opportunities emerging in China [2] - The article notes that the financial sector's recent strong performance is influenced by multiple factors, including the ongoing development of stablecoin concepts and favorable domestic policies [6] - Historical analysis shows that financial stock rallies are often driven by liquidity, fundamentals, or policy events, with the sustainability of these drivers determining future market trends [8]

Investment Rating - The industry rating is "Outperform the Market" [7] Core Insights - The report emphasizes the upcoming peak season for tourism and cultural activities, highlighting the potential of combining IP with scenic spots and the ongoing popularity of the "Su Chao" theme in Jiangsu [3][4] - The report suggests focusing on brands with high terminal store efficiency and significant expansion potential in the gold and jewelry sector, as well as the growing demand for personal care products driven by innovation and emotional branding [5][6] - The medical beauty sector is expected to see market share gains among leading institutions due to refined operations and the upcoming release of new products in Q3 [5][6] Summary by Sections 1. Duty-Free and Scenic Areas - The tourism market in Hainan is thriving, with a 62% year-on-year increase in overall bookings for the summer of 2025 [11] - China Duty Free Group is expanding its presence in Macau with a new store opening [11] - Investment suggestions include focusing on duty-free operators and their city store openings, particularly China Duty Free, Wangfujing, and Lingnan Holdings [11] 2. Trendy Toys - The trendy toy sector is experiencing short-term volatility due to regulatory risks and price fluctuations in the secondary market, but long-term growth is anticipated as China's cultural products expand internationally [19] - In the first five months of 2025, the domestic online sales of trendy toys reached approximately 2.754 billion yuan, with a year-on-year growth of 61% [19][22] 3. Hotels - The hotel sector is seeing fluctuations in RevPAR due to the impact of the Dragon Boat Festival holiday, with a notable year-on-year decline in performance metrics [36] - Supply growth remains stable, primarily driven by lower-tier markets [40] 4. Education - The number of high school graduates is expected to remain high, maintaining competitive pressure in the education sector [42] - The number of college graduates is projected to reach 12.22 million in 2025, increasing demand for vocational training and exam preparation services [45] 5. Medical Beauty and Cosmetics - The medical beauty sector is recovering, with a focus on product innovation and market share expansion among leading companies [47] - The beauty sector is expected to see a rebound in sales during the 618 shopping festival, with total online sales reaching 855.6 billion yuan, a year-on-year increase of 15.2% [53][58] 6. Gold and Jewelry - Gold prices remain high, with retail sales in the gold and jewelry sector increasing by 21.8% year-on-year in May 2025 [82] - Investment recommendations include brands with strong terminal store performance and expansion potential, such as Chao Hong Ji and Lai Shen Tong Ling [86]

Core Insights - The "Su Super" league has significantly boosted local businesses in Changzhou, with a notable increase in consumer spending and engagement on platforms like Douyin [1][6]. Group 1: Business Impact - Douyin group purchase orders in Changzhou increased by 42% from June 21 to 22, with restaurant orders rising over 56% during the same period [1]. - The "土味" sponsor, Dongha Northeast Street Barbecue, saw a staggering 3074-fold increase in Douyin search volume, along with a 732-fold increase compared to the previous period [1]. - The "小恐龙" from the Changzhou China Dinosaur Park gained popularity, leading to a 125% increase in weekend group purchase orders for the park [4]. Group 2: Promotional Activities - The Tianmu Lake scenic area launched a promotional campaign offering free admission to bald visitors, which resulted in a 456% increase in Douyin live broadcast orders from June 21 to 22 [6]. - The Tianmu Lake also introduced special ticket offers, including children's tickets priced as low as 0.1 yuan, attracting significant attention [6]. - Douyin's initiative "Follow Su Super to Explore Jiangsu" aims to enhance business growth for Jiangsu merchants, leading to a 225% increase in leisure and sports group purchase orders and an 181% increase in in-store spending [6].

Group 1 - The "Su Super" league has gained significant popularity, with a record attendance of 36,712 at a recent match, highlighting its appeal and the growing interest from sponsors and online engagement [1] - The league's charm lies in its intense competition, which reflects the cultural and community aspects of modern football, resonating well with social media dynamics [3] - The "Thirteen Taibao" collaboration mechanism between northern and southern Jiangsu has evolved from a one-way support system to a more balanced partnership, effectively reducing the development gap between regions [4] Group 2 - The "Su Super" league serves as a platform for cross-industry collaboration, integrating cultural, tourism, sports, and business sectors, emphasizing the importance of teamwork among cities [5] - Jiangsu's automotive industry, particularly in Changzhou, showcases a localized supply chain, with significant portions of procurement occurring within the region, promoting regional economic integration [7] - The Long Triangle region, where Jiangsu is located, is recognized for its high level of coordinated development, with recent meetings focusing on enhancing regional innovation capabilities and market integration [8] Group 3 - The adjustment of the "North-South Link" mechanism, where Xuzhou transitioned from a support role to a supportive partner with Anhui, exemplifies the successful outcomes of regional collaboration [10] - The ongoing success of the "Su Super" league has attracted attention from other regions looking to replicate its competitive and collaborative model [10]

Core Viewpoint - The "Su Super" competition in Jiangsu has become a cultural phenomenon, showcasing local pride through humorous songs and community engagement, enhancing the region's cultural identity and tourism appeal [1][3][10]. Group 1: Cultural Engagement - The practice of creating humorous "song battles" between cities has become a tradition, with the first instance occurring on June 6 when Suzhou teased Lianyungang with a song [3]. - Local citizens express enjoyment in the playful nature of these cultural exchanges, which foster community interaction and shared experiences [7]. Group 2: Promotion of Local Culture - The local cultural and tourism department is actively integrating local culinary and scenic elements into these humorous exchanges to promote regional specialties [5][12]. - Businesses are also participating by displaying popular phrases and themes from these cultural trends on public screens, further embedding the "scattered Jiangsu" concept into everyday life [8][10].

Core Viewpoint - Xinghui Entertainment has gained significant market attention due to its involvement in multiple hot business sectors, including IP, football, and toys, leading to a substantial increase in its stock price [1] Group 1: Stock Performance - On June 11, Xinghui Entertainment's stock surged by 13.43%, reaching an intraday increase of nearly 15%, following a cumulative rise of over 30% in the last three trading days [1] - The company has become the first A-share listed company to hold a controlling stake (99.59%) in a European top five league football club, specifically the Espanyol Football Club [1] Group 2: Business Operations - Xinghui Entertainment's business encompasses game development and operation, toy research, production, sales, and football club management [1] - The company is leveraging its position in the football industry to promote collaboration between Chinese and Spanish football, including the establishment of the Shanghai Football Academy to nurture local talent [2] Group 3: Market Rumors and Clarifications - There were rumors that Xinghui Entertainment is a manufacturer for the LABUBU plush toys of Pop Mart, which the company has denied, stating its toy business focuses on remote control models, alloy models, building block models, and outdoor toys [3] - The company clarified that it does not currently engage in digital currency or stablecoin-related businesses but will monitor developments in this area for potential future integration [3]

Group 1: Equity Market Insights - A-shares showed an upward trend this week, driven by stable macroeconomic data and short-term concepts like "Soochow Super," 5G, and innovative pharmaceuticals[2] - The technology sector is expected to become a mainline market trend, with significant performance driven by internal risk clearance and external positive news[3] - Consumer sectors are experiencing rotation, with pharmaceuticals and consumer electronics benefiting from hot topics, while dividend sectors may face upward limitations due to international volatility[3][15] Group 2: Bond Market Analysis - The bond market is experiencing high volatility, with short-term bonds favored due to their liquidity, which helps mitigate short-term investment risks[4][36] - Current domestic liquidity remains loose, supporting short-term prosperity in the bond market despite increasing uncertainties[4][36] - A recommendation for bond allocation suggests favoring short-term bonds for their flexibility in responding to potential market changes[6][36] Group 3: Commodity Market Overview - The commodity market is rebounding from low levels, with metals and precious metals showing strong performance, influenced by global recovery expectations[6][45] - Gold remains in a high volatility state, with short-term demand expected to decline as U.S. tariff policies stabilize, but long-term demand may still be supported by ongoing geopolitical uncertainties[6][45] - Overall, other commodity categories are underperforming, with a prevailing trend of low volatility expected in the commodity market[6][45]

Core Viewpoint - The Guizhou "Village Super" football league has faced rumors of being halted, which the organizing committee has firmly denied, emphasizing the negative impact of misinformation on its development [1][2]. Group 1: Event Overview - The Guizhou "Village Super" league, a grassroots football event, opened on May 13, 2023, attracting over 10,000 spectators and gaining significant attention due to its vibrant atmosphere and local cultural performances [2]. - The league achieved a remarkable online presence, with a total viewership exceeding 58 billion and over 600 million live stream views [2]. Group 2: Current Status and Comparisons - Despite its initial success, the current viewership has stabilized, with live stream numbers on platforms like Douyin dropping to around 100,000 to 200,000, compared to millions during peak times [2]. - The Guizhou "Village Super" committee expressed hope for the continued success of other regional leagues, such as "Yue Super" and "Lu Super," to further enhance the popularity of football in China [1].

Core Viewpoint - The article discusses the recent performance of A-shares and Hong Kong stocks, highlighting the contrasting drivers behind their respective market movements and the potential investment opportunities arising from these trends [10][11][12]. Group 1: A-share Market Insights - A-shares have experienced a significant rally, with the market showing a five-day consecutive rise and a cumulative increase of 52 points, reaching close to 3400 points [3][4]. - The average position of retail investors has hit a historical low, indicating that many missed out on the recent market upturn due to bearish sentiment [2]. - The driving force behind the A-share market's rise is attributed to market capitalization, with smaller-cap stocks outperforming larger ones, leading to thematic investments in sectors like nuclear fusion and stablecoins [11]. Group 2: Hong Kong Stock Market Insights - The Hang Seng Index has reached a new high of 24181.43 points, marking a recovery since the trade tensions began in April [8][9]. - The rise in Hong Kong stocks is primarily driven by valuation, with cheaper stocks showing better investment potential, particularly those that have seen significant declines in the past [12][13]. - The influx of capital into the Hong Kong market is largely from domestic institutions and individuals, seeking opportunities in sectors not available in A-shares, such as innovative drugs and new consumption trends [14][15][18]. Group 3: Sector-Specific Developments - The solid-state battery sector is highlighted as a key area of growth, with expectations for installed capacity to increase significantly from 0.8 GWh last year to 7 GWh in 2024, indicating a substantial market expansion [23][24]. - The article emphasizes the importance of solid-state electrolytes in the development of solid-state batteries, with a focus on the long-term potential of sulfide-based technologies [27]. - The article suggests that the current phase of the solid-state battery industry is moving beyond the nascent stage and is poised for significant growth as production scales up [24][25]. Group 4: Policy and Market Outlook - The article outlines potential incremental policies expected to be introduced in June, including monetary and fiscal measures aimed at supporting consumption and innovation [28]. - A key resistance level for the A-share market is identified at 3417 points, with a breakthrough expected to accelerate market momentum [30].

文 ｜ 何驰 编辑 ｜ 腾宇 来源｜ 新周刊（ID：new-weekly） 封面来源 ｜ 视觉中国 以下文章来源于新周刊 ，作者何驰 新周刊 . 中国最新锐的生活方式周刊。 国足输了，苏超火了， 接下来我们还能看什么？ "比赛第一，友谊第十四！" "没有假球，只有世仇！" 2025年，"散装"的江苏办了一场"苏超"（江苏省城市足球联赛），这场"十三太保"们的草根比赛意外破圈爆火，上座率甚至远超中甲，还引发了一场全民 玩梗大赛和地方文旅特惠酬宾热潮。 （图/视觉中国） 如果你们的城市之间有"世仇"，请去"苏超"踢个球。比如，让成都重庆来场"火锅德比"，济南青岛"齐鲁争雄"，山河四省"中原争霸"，东北F4"雪国德 比"，广佛兄弟顺便扒个龙舟…… 看热闹的吃瓜群众，永远不嫌事大。 "苏超"很火，复制挺难 "苏超"为什么能火？两个字：纯粹。 它为什么诞生在江苏而不是其他地方？ 原因大致有五： 一是经济实力相当。江苏十三市均为全国GDP百强，头尾差距不大，人人都想当老大，即便是平常比较少见的足球比赛，也不例外。 二是地域认同感。苏南、苏中、苏北各区块一直存在"互怼"与"内斗"的传统，表面散装，内在更散装，人人不服输，什 ...