Event Overview - The 2025 China Open will take place from September 14 to October 5 at the National Tennis Center, marking the first three-week comprehensive tennis event in Asia [1] - The event will kick off with the TF Youth Tournament from September 14 to 21, followed by the WTA 1000 women's event from September 22 to October 5, and the ATP 500 men's event from September 23 to October 1 [1] Participant Highlights - Notable players confirmed for the event include current world number one Jannik Sinner, world number three Alexander Zverev, and former world number one Daniil Medvedev [4] - The women's event will feature top players such as three-time Grand Slam champion Aryna Sabalenka, defending champion Coco Gauff, and 2023 champion Iga Swiatek, with China's Zheng Qinwen leading the local representation [4] Venue Enhancements - The National Tennis Center will undergo comprehensive upgrades, including new access routes, additional international standard training courts, and a red clay-themed viewing area [4] - The venue layout will expand by nearly 15,000 square meters, significantly improving capacity and convenience for attendees [4] Technological Innovations - The event will introduce advanced broadcasting technologies, including 6K holographic replays and AI sports analysis models to enhance viewer experience [5] - Central China Television will manage public signal production and implement innovative measures for an immersive viewing experience [5] Attendance and Economic Impact - The 2024 China Open attracted over 300,000 attendees, with record single-day attendance reaching 44,000 on October 1 [5] - Total on-site consumption during the 2024 event exceeded 25 million yuan, representing a 40% increase from the previous year [5]

Core Insights - The emergence of a truck carrying 6,000 rare star cards valued at 20 million yuan from Shanghai marks a significant moment for the domestic star card market, highlighting the potential value of these collectibles [1] - The history of domestic star cards in China spans over 30 years, evolving from promotional items to collectible cultural products, with a pivotal moment occurring in 1998 when commercial operations began [2][4] - The market for collectible cards in China is projected to reach 27.66 billion yuan by 2025, indicating a growing interest and investment in this sector [5][20] Industry Evolution - Domestic star cards began in the mid-1990s as promotional items for football clubs, but the 1998 launch of the "98甲A联赛球星卡" marked the transition to a collectible market [2][4] - The rise of the internet facilitated the growth of online trading platforms, allowing collectors to form national communities, although the domestic market struggled due to weak sports IP influence [4][6] - The COVID-19 pandemic in 2020 significantly boosted the domestic star card market, with a consumption growth rate of 205%, surpassing the global average [6] Market Dynamics - The most collectible domestic star cards are those associated with Olympic and world champions, reflecting a strong national sentiment [6][8] - High-value transactions have been recorded, with individual cards selling for over 25,000 yuan, indicating a willingness among consumers to invest in domestic star cards [9] - The domestic star card market faces challenges, including a lack of strong sports culture, high competition from international brands, and the need for better IP development [12][15][19] Future Opportunities - The domestic star card market can learn from successful IP strategies in other sectors, such as leveraging local sports events and historical figures to create more relatable products [22][24] - Innovative approaches, such as integrating AR technology and creating immersive experiences, could enhance consumer engagement and transform star cards into dynamic cultural products [24][26] - The market's growth potential is supported by a significant number of companies entering the space, with approximately 2,830 card-related enterprises expected by 2025 [20]

NOMURA 野村东方国际证券 内容来源 分钟了解日本 日本体育消费趋势的转变 上期我们介绍了日本体育市场的发展历程以及流行趋势的转 变。上世纪90年代后,日本的体育市场逐渐呈现"低门槛、 低消费、个人化"三大消费特征。本期将解析这一转变的社 会经济原因以及细分体育领域的趋势。 三大消费特征转变的原因 经济下行抑制奢侈型 消费支出,低消费、 低门槛项目崛起。 = 1172 假门槛 低消费 个人化特征 日本重视校园体育。 老龄化、家庭小型化 但少子化使青少年体 03 现象使大众转向休 育市场大幅缩水。 闲、个人类项目。 本材料虽由野村东方国际证券有限公司（以下简称"本公司"或"我们"）研究部提供，但并非我们发布的证券 研究报告，仅系我们根据本公司已正式发布的研究报告内容制作。我们不保证本材料内容、观点、文字与正 式出具的研究报告保持完整性、一致性，您应通过查阅本公司正式发布的研究报告获得详细信息，研究报告 的免责声明同样适用于本材料。 本内容根据野村东方国际证券2023年08月17日发布的证券研究报告 《赛道之上，创新致胜——日本经济下行期黄金赛道之运动 服饰》 分析师 张影秋 （SAC执证编号：S172052 ...

证券代码：300651 证券简称：金陵体育 债券代码：123093 债券简称：金陵转债 江苏金陵体育器材股份有限公司 虽然目前我国体育产业市场规模发展迅速，但是相比主要发达 国家，行业增加值占 GDP 的比重仍处低位，2020 年我国体育产业占 GDP 比例为 1.0%，远低于美、日、法等国 3%-4%的水平。体育强国 建设纲提出我国力争到 2035 年将体育产业发展成为国民经济支柱性 产业，随着未来我国居民收入继续增加，我国体育产业占 GDP 比重 会达到 4%水平，全国体育产业总规模达到 5 万亿元。这让我们更加 坚定了向前发展的信心。体育器材行业的市场需求会继续保持稳定 增长，国内体育产业仍有明显的市场空间。 2025 年 4 月 11 日中国人民银行、体育总局、金融监管总局、中 国证监会等四部门联合印发《关于金融支持体育产业高质量发展的 指导意见》,《意见》明确指出纵深推进金融供给侧结构性改革，加 快构建适应体育产业发展、多层次、广覆盖的金融产品和服务体系， 持续丰富体育领域金融资源供给，切实提升金融支持体育产业发展 的能力和水平。 投资者关系活动记录表 编号： 2025-004 | ☑ | 特定对象 ...

Core Viewpoint - The Jiangsu Province Urban Football League, referred to as "Su Super," has gained significant popularity, attracting over 15,000 average spectators per match during the recent rounds, with a record attendance of 22,198 for a single match, indicating a strong economic value in grassroots sports [1][4][2]. Group 1: Event Popularity and Attendance - The league is organized by the Jiangsu Provincial Sports Bureau in collaboration with 13 municipal governments, featuring 516 players, of which only 29 are professional, highlighting its grassroots nature [2]. - The second round of matches averaged 9,852 attendees, surpassing the attendance of concurrent professional leagues, while the third round saw even higher engagement with specific matches drawing over 15,000 spectators [4]. - The rapid rise in online discussions and memes related to the league indicates its cultural impact, with the league's popularity surpassing that of major events like the UEFA Champions League final within 20 days [4]. Group 2: Sponsorship and Economic Impact - Major sponsors, including Jiangsu Bank and Jinshiyuan, have reported significant brand exposure and economic benefits from their involvement, with Jiangsu Bank emphasizing its commitment to cultural finance and community engagement [5][6]. - The league's sponsorship structure includes a tiered system with provincial, strategic, and city-level sponsors, reflecting a well-organized approach to attracting financial support [5]. - The economic impact of the league is evident, with data showing that over 180,000 fans traveled across cities during the holiday period, boosting hotel occupancy rates by 20%-30% and restaurant sales by 15%-25% [4]. Group 3: Broader Economic Trends in Sports - The economic benefits of grassroots sports events are becoming increasingly apparent, with examples from other regions showing substantial direct economic contributions from various sporting events [8]. - The integration of local culture and sports, such as promotional ticket packages that include local delicacies, has proven effective in driving sales and enhancing community engagement [8]. - The Jiangsu Provincial Sports Bureau's initiatives to promote sports events in various venues have led to significant increases in participation and consumer spending, demonstrating the potential for sports to drive local economies [9].

Core Insights - The "Su Super" league, officially known as the Jiangsu Provincial City Football League, has gained significant popularity, attracting over 180,000 fans to various matches across 13 cities in Jiangsu Province [1][6] - The league has successfully created a vibrant atmosphere, with events drawing families and children, enhancing community engagement [2][4] - The league's unique marketing strategies, including humorous slogans and cultural references, have contributed to its viral success on social media [7][8] Group 1: Popularity and Engagement - The third round of the "Su Super" attracted over 90,000 fans across six cities, with an average attendance exceeding 10,000 per match, surpassing many professional leagues [6] - The league features players from diverse professions, promoting a "全民足球" (全民 football) model that encourages community participation and city pride [9] - The league's matches have become a platform for cultural expression, with cities showcasing their unique identities through the events [7][9] Group 2: Economic Impact - The "Su Super" has stimulated local economies by attracting tourists, with cities launching promotional activities to boost consumption during match days [12][14] - The integration of sports and tourism has led to a 14.63% increase in intercity tourism spending during the third round of matches [16] - Cities are leveraging the league to enhance their cultural branding and promote local attractions, creating a model for economic activation through sports [19][22] Group 3: Future Development - Experts suggest that the success of "Su Super" can serve as a template for grassroots sports events in China, emphasizing the importance of community involvement and cultural resonance [17][19] - The league is seen as a potential catalyst for the development of youth football and the overall improvement of the football ecosystem in China [26] - There is a focus on transforming the league's popularity into sustainable tourism and cultural branding initiatives, ensuring long-term benefits for participating cities [23][24]

"比赛第一，友谊第十四""麻辣鹅暴打盐水鸭"……连日来，江苏"苏超"联赛（江苏省城市足球联赛）火爆，妙趣 横生的热梗在网络上刷屏出圈，伴随各城市巧妙融合地域文化与美食元素，此次赛场对决正升级为兼具竞技性与 娱乐性的全民狂欢，正全面带旺江苏文旅和本地消费市场。南都记者从美团了解到，最近一周"苏超联赛"关键词 搜索量环比前一周激增16倍以上，苏州、无锡、常州、南京、盐城的搜索热度位居全省前五。伴随江苏省的文旅 热度持续走高，6月3日至6月8日，江苏省内景区预订同比增长305%。 南京对阵无锡热梗刷屏。 江苏多地推出门票+文旅优惠 公开信息显示，"苏超"联赛是由江苏省体育局和各设区市人民政府于2025年5月-11月主办的省级业余足球赛事， 于5月10日揭幕，江苏省13座城市各派一队参赛，采用"一城一主场"的全面覆盖模式，参赛球员既有职业球员，也 有个体工商户、大学生乃至高中生。在为期7个月的赛事期间，将上演85场扣人心弦的精彩对决。 "苏超"联赛带火文体旅消费 "苏超"联赛带动当地文旅、美食、休闲玩乐、体育运动等消费持续走高。银联商务数据显示，端午假期，"苏超"6 个主场城市银联渠道异地文旅消费金额同比增长12.9 ...

本次中国大满贯也会有更多青少年球员参与其中，以此推动项目的人才培养。中国乒乓球协会秘书长何 潇透露，协会正在积极与本地社区、学校、公园等展开深度合作，将通过不同项目的隔空对话、业余群 众选手互动、体育公益活动等形式，让中国大满贯的激情从赛场延伸到城市每个角落，让乒乓球成为连 接市民、赋能城市的美好纽带。 今天上午，由中国乒乓球协会、北京市体育局、石景山区政府主办的WTT中国大满贯2025赛事信息发 布会暨招商推介会举行。本次比赛将于9月25日至10月5日在石景山首钢园举行，于国庆假期打造一 场"不止于赛事，更超越于期待"的体育文化盛宴。 奥运冠军可直通比赛 大满贯赛是WTT（世界乒乓球职业大联盟）顶级赛事，2025年共设四站。去年9月26日至10月6日， WTT中国大满贯2024在石景山区首钢园成功举办，这也是北京时隔63年再办世界最高水平乒乓球赛 事。世界顶级好手汇聚京城，比赛总票房高达5700万元。 本赛季WTT中国大满贯将在原有基础上焕新升级。据WTT赛事执行总监穆尼尔·巴萨介绍，今年WTT将 大满贯赛事的强制参赛改为邀请参赛，同时为奥运冠军设立了直接获得参赛资格的"金卡"，确保顶尖运 动员能够参与其中 ...

据经济日报，体育消费成为培育消费新增长点的重要领域，北京、广东、浙江等地通过提升赛事效益和 营造体育文化氛围，拓展体育消费空间。体育消费涵盖运动装备、体育活动参与、赛事观赏等多种方 式，市场规模持续扩大，理念成熟。2024年全国路跑赛事规模达704.86万人次，杭州亚运会期间浙江省 体育消费环比增长210%。政策支持增加优质运动项目和特色赛事供给，加强设施建设。未来将通过设 施完善和模式创新释放体育消费潜力。 ...

Group 1 - The first Yangtze River Delta Youth Basketball League (Jiangsu Station) is currently taking place at Nanjing University of Science and Technology, featuring 16 U17 teams and 279 athletes competing over 18 matches in three days [1][2] - The event is a collaborative initiative by the sports bureaus of Jiangsu, Zhejiang, Anhui, and Shanghai, aimed at promoting youth sports and fostering regional integration in the Yangtze River Delta [1][2] - The competition format includes a "home and away" system along with a knockout stage, showcasing top youth basketball talent from the region, with Jiangsu fielding the largest contingent of 72 athletes [1] Group 2 - The league aims to create a new platform for youth sports exchange and interaction among the four regions, enhancing the atmosphere for youth basketball development [2] - The league started on March 28 in Shanghai and has already held events in Zhejiang and Jiangsu, with the finals scheduled for October in Shanghai, where the "Dream Cup" will be contested [2]