Group 1: Company Overview and Strategy - Since its listing, Jinling Sports has actively positioned itself in the sports industry, focusing on strengthening its brand and expanding both horizontally and vertically within the sports sector [2][3] - The company aims to enhance its sports consumption services by developing a brand matrix centered around urban sports, targeting a significant improvement in consumer experience and quality [2][3] Group 2: Industry Outlook - The Chinese sports industry is expected to grow significantly, with the market size projected to reach 4% of GDP by 2035, compared to 1.0% in 2020 [3] - The government is actively supporting the sports industry, which is anticipated to lead to increased investment and market demand [3] Group 3: Recent Performance and Challenges - The company experienced a decline in sales volume in the first quarter due to a sluggish market economy and fewer events held, resulting in reduced event service revenue [3][4] - Delays in large project approvals have also contributed to the recent performance challenges [4] Group 4: Future Growth Drivers - Jinling Sports is exploring growth opportunities in the sports consumption service sector and event services, aiming to enhance its offerings and increase revenue [5] - The company plans to leverage its reputation from past large events to expand its domestic and international event service projects [5] Group 5: Impact of Local Sports Events - The rise of the Suzhou Super League has generated significant public interest, enhancing the visibility of local football and sports events, which may indirectly benefit the company [6] - The company is developing marketing strategies to capitalize on the popularity of local football leagues to achieve its growth objectives [6]

Group 1 - China National Offshore Oil Corporation (CNOOC) announced the full production of the "Deep Sea No. 1" gas field phase II project in the South China Sea, marking the completion of the largest offshore gas field in China [4] - The Shaoyang-Yongzhou high-speed railway has commenced the construction of its first box girder, with a total length of approximately 96 kilometers and a design speed of 350 kilometers per hour, forming an important part of China's high-speed rail network [6] - The sports goods industry in Cixi, Zhejiang Province, has rapidly developed, with over 800 enterprises included in the national sports industry directory, and exports of sports goods and equipment reached 860 million yuan, a year-on-year increase of 49.7% from January to May [8] Group 2 - The Inner Mongolia Autonomous Region showcased its campus football curriculum achievements, with participation from 36 primary and secondary schools across 12 leagues [10] - Eastern Airlines launched a direct round-trip flight route between Xi'an and Istanbul, enhancing connectivity between the two cities [13] - Sanya, Hainan, is preparing for the summer tourism peak with a themed tourism season, attracting numerous domestic and international tourists to experience yacht outings [15]

Core Viewpoint - The rapid rise of the new energy vehicle (NEV) industry is driven by market development and industry transformation, with Lisheng Sports seizing the opportunity to collaborate with Hainan on the Hainan NEV Experience Center International Racing Circuit project [2] Group 1: Project Development - The Hainan International Racing Circuit project is set to complete the track trial section by 2024, with the main construction of the racing track and event complex starting on February 28, 2025 [2] - Lisheng Sports has invested 147 million yuan in the project, marking a significant step in its construction phase [2] Group 2: Strategic Location and Support - Lisheng Sports' strategic layout in Hainan is supported by the local government's policies and the region's unique geographical advantages, including its central position in international logistics and its role as a key node in the Maritime Silk Road [3] - Hainan's natural ecology and free trade zone tax advantages provide favorable conditions for attracting domestic and international events, enhancing the sports industry [3] Group 3: Market Potential and Advantages - The developed cultural and tourism industry in Hainan offers unique advantages for the racing circuit project, with events like the Boao Forum and the World New Energy Vehicle Conference contributing to a broad customer base [3] - The climate in Hainan allows for approximately 340 days of operational time for the racing circuit each year, creating opportunities to host international top-tier events [3] Group 4: Future Outlook - Lisheng Sports aims to contribute to the development of Hainan's sports industry while expanding its own business, focusing on event IP and leveraging digital technology to create a comprehensive sports consumption service platform for sustainable growth [4]

Group 1: Company Overview and Strategy - Since its listing, Jinling Sports has actively positioned itself in the sports industry, focusing on brand-driven expansion and maintaining stable original business while gradually realizing the value of new business segments [2][3] - The company aims to enhance the sports consumption experience and quality by developing a sports consumption brand matrix, targeting the establishment of a century-old national sports brand [2][3] Group 2: Industry Outlook - The Chinese sports industry is expected to grow significantly, with the market size projected to reach 5 trillion yuan, and the industry's contribution to GDP anticipated to rise to 4% by 2035 [3][4] - In 2020, the sports industry accounted for only 1.0% of GDP in China, which is considerably lower than the 3%-4% seen in developed countries [3] Group 3: Recent Performance and Challenges - The company experienced a decline in sales due to a sluggish market economy and fewer events held during the reporting period, impacting service revenue significantly [5] - Major events like the Hangzhou Asian Games and Chengdu Universiade in 2023 utilized high-end equipment, but the number of events in 2024 is expected to decrease compared to the previous year [5] Group 4: Future Growth Drivers - Jinling Sports is exploring growth points in the 2C business sector, focusing on enhancing sports consumption services and experiences [6] - The company plans to leverage its reputation and experience from past large-scale events to expand domestic and international event service projects, thereby increasing service revenue [6] Group 5: Market Risks - The impact of the Scottish Premier League on the company's performance is currently minimal, but there are concerns about market volatility and irrational trading behavior in the A-share market [6]

Group 1 - The central government is set to establish a commercial health insurance innovative drug catalog to better meet the multi-level medication guarantee needs of the public [1] - The Ministry of Industry and Information Technology and the Ministry of Civil Affairs are promoting the design and development of intelligent elderly care service robots, with a pilot period from 2025 to 2027 [3] - The Ministry of Housing and Urban-Rural Development aims to achieve an average resource utilization rate of over 50% for construction waste in cities at the prefecture level and above by 2027 [6] Group 2 - The Beijing Municipal Bureau of Commerce is planning to create a global first-release center to support the renovation and upgrading of commercial districts and shopping malls [8] - The State Administration for Market Regulation has issued compliance guidelines for the "6·18" online promotional event, emphasizing fair market competition and the prevention of illegal activities [10] - Guiyang is establishing a joint meeting system to promote the development of the sports industry, with plans to introduce supportive policies and funding for sports products and services [11]

Group 1 - The "Su Super" league has gained significant popularity, leading to a surge in related sports industry stocks in the A-share market [1][2] - The football concept index rose nearly 4% today, accumulating a nearly 10% increase over the last three trading days [2] - Individual stocks such as Jinling Sports have seen a 104% increase over the last five trading days, with a 20% limit up for three consecutive days [2][3] Group 2 - The "Su Super" league has attracted large crowds, with matches often sold out and ticket prices skyrocketing from 10 yuan to as high as 600 yuan on secondary markets [4][5] - The league's success is attributed to local city rivalries and government support, as well as a high level of competition despite being an amateur league [5][6] - The league has sparked a new wave of cultural consumption, with social media trends and memes emerging from the matches [6][8] Group 3 - The current environment in China's sports industry is favorable, with recent policies aimed at supporting high-quality development in sports infrastructure and services [9] - The success of the "Su Super" league indicates a potential shift in focus from professional leagues to a more diverse "city sports ecology" model [10] - The league is creating market opportunities in various sectors, including sports venue construction, turf and surface materials, sports consumption, and digital content [11]

Core Viewpoint - Lisheng Sports has successfully organized three major national-level sports events within the same week, showcasing its strong capabilities in sports event management and enhancing the value of sports IP in China [1][4]. Group 1: Event Highlights - The China Professional Golf Tour Chongqing Open, exclusively operated by Lisheng Sports, featured 144 top players from 17 countries, with local champion Zhou Yihan winning the title and becoming the first "Four-time Champion" in the tour's history [2]. - The China GT Supercar Championship held at the Shanghai International Circuit showcased 29 cars and over 50 drivers, concluding with a dramatic finish decided by just 0.2 seconds, highlighting the excitement of motorsport [2]. - The CKC China Karting Championship in Guangzhou attracted nearly 100 participants across various age groups, demonstrating the growing popularity and competitive spirit in karting [3]. Group 2: Company Strategy and Market Position - Lisheng Sports is recognized as a leading operator in automotive sports and a pioneer in the marketization and digital transformation of the sports industry in China, managing high-profile events and developing a comprehensive sports IP ecosystem [4]. - Recent government policies aimed at supporting the high-quality development of the sports industry present new opportunities for growth, which Lisheng Sports is actively pursuing through strategic partnerships and resource integration [4]. - The company has entered a strategic partnership with the China Golf Association to exclusively promote the China Men's Professional Golf Tour, capitalizing on the expanding market for golf, projected to grow from approximately $13.12 billion in 2025 to $19.7 billion by 2034, with a CAGR of 4.15% [5]. Group 3: Upcoming Events - Lisheng Sports is set to host the FIA Formula E World Championship in Shanghai from May 31 to June 1, 2025, which is expected to attract significant attention due to its focus on environmental sustainability and innovation in motorsport [5].

Group 1: Company Overview and Strategy - Since its listing, the company has actively positioned itself in the sports industry, focusing on strengthening its brand and expanding both horizontally and vertically within the sports sector [2][3] - The company aims to enhance its sports consumption services and create a brand matrix for urban sports, targeting the development of a century-old national sports brand [2][3] Group 2: Industry Outlook - The Chinese sports industry is expected to grow significantly, with the government aiming for the sports sector to become a pillar of the national economy by 2035, increasing its GDP contribution from 1.0% in 2020 to 4% [3] - The total scale of the national sports industry is projected to reach 5 trillion yuan, indicating substantial market potential [3] Group 3: Recent Performance and Challenges - The company experienced a decline in sales due to a lack of major events, which significantly reduced event service revenue [5] - The number of events held in 2023 decreased compared to the previous year, impacting overall performance [6] Group 4: Future Growth Drivers - The company is exploring growth opportunities in the 2C business model, focusing on enhancing sports consumption services and event services [4][6] - Leveraging its reputation from past large-scale events, the company aims to expand its domestic and international event service projects to increase revenue [6]

Financial Performance - In 2024, the company achieved an operating revenue of 441 million yuan, a year-on-year increase of 8.77% [1] - The net profit attributable to shareholders and the net profit after deducting non-recurring gains and losses significantly narrowed compared to the previous year [1] - The gross profit margin was 23.12%, an increase of 1.23 percentage points from 2023 [1] - The net cash flow from operating activities surged by 1168.76% to 105 million yuan [1] - In Q1 2025, the company reported an operating revenue of 108 million yuan, a year-on-year growth of 3.27%, with a gross profit margin rising to 30.08% [1] Strategic Development - The company is focusing on the "bringing in" and "going out" strategy to strengthen its market position in event IP operations [2] - It has successfully introduced and operated several international events, including the FE Shanghai Station and TCR Asia [2] - The company operated a total of 112 events at various levels throughout the year, adding 8 new events, including the "FIA Australian Formula 4 Championship" [2] - The company's self-owned event IP, GTSC, has been upgraded to "China GT" with official authorization, expanding its automotive event matrix [2] Technological Innovation - The company is advancing sustainable development through technological empowerment, showcasing innovations in electric racing and autonomous driving systems [3] - The electric racing car, Dongfeng Yipai eπ007, successfully completed its first track test, demonstrating excellent performance [3] - The company is also developing a new energy vehicle experience center and plans to launch the E-TCR electric racing championship in 2025 [3] Industry Outlook - The sports industry in China is projected to reach a total scale of 5 trillion yuan by 2025, supported by government policies promoting sports development [4] - Recent government initiatives encourage the integration of sports with tourism and the hosting of various sports events to stimulate consumption [4] - The company is well-positioned to leverage industry trends and enhance its competitive edge through strategic partnerships and resource integration [5] Future Prospects - With top-level policy support and the company's strategic initiatives, there is potential for significant market opportunities and performance growth [6]

《意见》提到，支持金融赋能职业体育、冰雪经济发展。围绕足球、篮球、排球、乒乓球、羽毛球等职 业体育俱乐部建设和发展需求，健全职业体育俱乐部多元化投融资体系，为职业体育俱乐部设施改造升 级和配套服务提供金融支持。 《意见》还提出，鼓励设立体育发展专项资金，对符合条件的企业、社会组织给予项目补助、贴息和奖 励，促进降低融资成本。鼓励民间和境外资本投资体育产业，兴建体育设施，在依法合规、风险可控的 前提下，推广和运用政府与社会资本合作模式，推动体育产业发展。 华鑫证券研报指出，关注内需消费刺激政策利好，更多细分赛道有望取得亮眼增长。预计将会有更多内 需消费刺激政策将会出台，国内宏观消费情况有望稳步改善。同时，伴随着健康意识与运动习惯一步步 深入大众生活中，国内运动鞋服渗透率有望加速提升，国产运动品牌销量有望实现亮眼增长。 机构称，伴随着健康意识与运动习惯一步步深入大众生活中，国内运动鞋服渗透率有望加速提升，国产 运动品牌销量有望实现亮眼增长。 4月14日，体育板块涨幅居前，足球概念、体育产业、冰雪产业等领涨。截至发稿，康力源、金陵体育 20%涨停，探路者大涨12%，三柏硕、天府文旅、英派斯等多股涨超9%。 | 代码 ...