Group 1 - The first snow holiday in Urumqi has activated the ice and snow economy, leading to increased activity in ice and snow tourism, accommodation, and dining sectors, with skiing becoming the main consumption area during this period [2] - The snow holiday in Altay, covering 73,000 primary and secondary school students, has integrated ice and snow sports with cultural and educational activities, boosting winter tourism and promoting the deep integration of ice and snow economy with quality education [5] - Urumqi's ice and snow economy will continue to thrive with over 160 ice and snow themed activities planned for the season, including skiing events and cultural experiences, supported by policies to enhance winter tourism consumption [6] Group 2 - The ice and snow equipment manufacturing industry in China is experiencing significant growth, with the number of related enterprises increasing from approximately 300 in 2015 to around 900 in 2023, and sales revenue rising from less than 5 billion yuan to about 22 billion yuan during the same period [10] - The scale of China's ice and snow industry is expected to exceed 1 trillion yuan this year, driven by the popularization of ice and snow sports and advancements in technology, positioning ice and snow equipment manufacturing as a new driving force for sustained growth in the ice and snow economy [10]

Core Insights - The report emphasizes a defensive investment strategy, suggesting to wait for better timing to enter the market as adjustments increase [6] - The mechanical industry is projected to achieve stable growth in 2025, reflecting the enhancement of China's manufacturing capabilities, with a focus on mid-cap blue-chip stocks that show potential for both stable growth and technological advancement [6] - The "ice and snow economy" is evolving from a niche seasonal activity into a vibrant trillion-yuan industry, with significant regional developments and policy support [6] Market Strategy - The market is experiencing a rebound that faces resistance, with participants adopting a more conservative mindset as trading willingness decreases [6] - It is advised to focus on mid-cap blue-chip stocks in sectors with improving marginal demand, particularly in advanced manufacturing and electronics [6] - Relevant ETFs include the CSI Cash Flow ETF and various sector-specific ETFs [6] Industry Strategy - The mechanical industry is expected to maintain steady demand growth into 2026, with an increasing importance of technological empowerment [6] - Key areas for investment include lithium battery equipment, industrial mother machines, oil and gas equipment, and engineering machinery [6] - Recommended stocks include CIMC Vehicles and Hangcha Group, with associated ETFs for further investment options [6] Thematic Strategy - The ice and snow economy is characterized by a shift from northern regional activities to a nationwide resonance, with southern regions developing large indoor ski facilities [6] - There is a growing trend of integrating local cultural elements into winter sports, supported by government policies aimed at promoting the ice and snow economy [6] - Relevant ETFs for this sector include tourism ETFs [6]

在2025-2026雪季来临之际，北方多地降雪提前，各大滑雪场陆续"开板"。这个冬季，冰雪产业迎来里程碑时刻——《中国冰雪产业发展研究报告 （2025）》预测，2025年中国冰雪产业规模将突破万亿元大关，达到10053亿元。从2015年的2700亿元到2025年的万亿规模，中国冰雪产业在十年间实现 了跨越式增长，年均增速超过26%。 市场基础持续扩大，消费主体多元化发展 冰雪经济是以冰雪资源为基础，以冰雪运动为引领，融合旅游、文化、装备等相关产业的综合经济体系。数据显示，2024-2025冰雪季，全国居民冰雪运 动参与人数达2.92亿人，参与率为20.61%，较上一冰雪季增加约2744万人。 可以看到，参与人群的扩大直接转化为消费增长。数据显示，2024-2025冰雪季，居民参与冰雪运动及带动消费规模超1875亿元，同比增长超25%。全国 滑雪场消费金额达786.13亿元，且滑雪场周边两公里消费金额增长27.97%。 与此同时，消费主体还呈现出多元化的趋势。"亲子家庭"成为滑雪场的核心客群，消费占比达54%。以00后、学生群体为主的"新生世代"客群表现同样亮 眼，消费占比17%，日均增长177%，成为推动市场 ...

0:00 漠河北极滑雪场今年首推夜滑模式，游客们在冰雪欢乐中开启漫长的冬夜。漠河北极童话村雪雕园开园迎客，灯光秀把整个景区装扮得流光溢彩，雪地篝 火、烟花表演，让大家仿佛走进了一个童话世界。 浙江游客 邹春妹：晚上滑雪的话，跟白天是完全不一样的体验。晚上人少，灯光很亮堂，再加上有月亮，你拍的时候就会感觉月亮在追着你跑，特别帅。 从中国最北最冷的室外滑雪场运动，到全国纬度最低的室内滑冰雪场，冰雪运动热度不断攀升。 黑龙江漠河： 向北向美！"中国最北"享雪趣 黑龙江漠河北极滑雪场，是全国位置最北、纬度最高、雪期最长的室外滑雪场之一，各种有趣的文旅场景正精彩上演。 湖南游客 彭娟：过瘾！我一开始还不太会滑，来这边初级滑雪场滑得很开心，只摔了一跤，滑了十趟。 在北极村，寒冷能把阳光冰封进肥皂泡泡。在祖国最北的沿江村落核心打卡地北字广场，"百'北'齐聚"的独特设计让大家漫步其间，沉浸式体验中感受"找 北"的乐趣。 零下三十几摄氏度，咬一口糖葫芦，品尝冰凉酸爽中的甜蜜。买一支漠河雪糕，感受一下地道的东北味道。大家在冰雪世界中，感受中国最北城市的文化魅 力。 湖北武汉： 特色冰雪消费场景燃动冰雪经济 在湖北武汉黄陂区，冰雪 ...

Core Insights - The article emphasizes the transition of China's snow sports economy from scale growth to quality enhancement, highlighting the role of outdoor apparel brands in connecting sports experiences with industry development [1][8] - The event "Dancing with Snow" organized by the brand Tambor in the Altay region serves as a practical example of this trend, showcasing the brand's commitment to professional quality and its impact on the snow sports ecosystem [1][3] Group 1: Event and Brand Connection - The "Dancing with Snow" event at the Altay mountain not only showcased Tambor's products but also established a deep connection between the brand and its users through an authentic experience [2][3] - The choice of location at the Altay mountain, a historical site for skiing, aligns with Tambor's strategy to bridge professional sports and mass consumer engagement [2][3] - The event addressed key pain points in the snow apparel market, offering versatile products that balance functionality for professional skiers and aesthetic appeal for casual users [2][3] Group 2: Product Quality and Technology - Tambor has a strong focus on high-quality materials, with over 90% of its outdoor apparel made from nylon, significantly exceeding industry averages [4] - The brand's ski apparel features advanced technology, such as DERMIZAX fabric with impressive waterproof and breathability ratings, ensuring optimal performance in extreme conditions [4][5] - Tambor's commitment to quality extends through the entire production process, utilizing high-quality down and ergonomic designs to enhance user experience [5] Group 3: Industry Ecosystem and Cultural Integration - Tambor is evolving from a product-centric approach to an ecosystem-building strategy, aiming to empower the entire snow sports industry [6][8] - The brand has established a presence in key ski resorts, creating experience centers that serve both as retail points and cultural hubs for snow sports education [6][7] - Tambor integrates local cultural elements into its product design, promoting a narrative that connects outdoor gear with the natural environment and emotional values [7][8] Group 4: Market Positioning and Future Outlook - The snow apparel market is shifting from a price competition to a value-driven approach, with Tambor setting a benchmark through its quality and experiential marketing strategies [8] - The brand's initiatives, from local events to international partnerships, position it as a leader in the evolving landscape of China's snow sports economy [8]

冰雪经济迎来重磅利好政策。 12月11日消息，《辽宁省冰雪旅游高质量发展三年行动计划（2025—2027年）》公开征求意见，其中 提出，培育省级以上滑雪旅游度假地10个，打造冰雪旅游精品线路10条以上，冰雪旅游综合消费带动效 应显著增强，辽宁冰雪品牌影响力全面提升。力争到2027年，全省冰雪旅游年接待人次突破2.6亿，年综 合收入达到2500亿元以上。 近期，冰雪旅游相关主题升温。伴随气温降低，北方多地滑雪场"开板"，冰雪旅游季即将开始。当前，国 内主要冰雪游目的地航班预定热度、酒店、民宿等预订热度皆有所上升。2025国际冬季运动博览会主论 坛发布的《中国冰雪产业发展研究报告(2025)》显示，今年我国冰雪产业规模将突破万亿元大关，达 10053亿元。 辽宁重磅发布 据辽宁省文化和旅游厅网站消息，《辽宁省冰雪旅游高质量发展三年行动计划（2025—2027年）》（以 下简称《行动计划》）公开征求意见，其中提到，充分挖掘辽宁冰雪文化内涵，健全完善专业型、爱好 型、大众型三级产品体系，持续创新"冰雪+""+冰雪"多元业态与消费场景，构建层次清晰、特色鲜明的 辽宁冰雪旅游发展新格局，塑造具有辽宁辨识度的大众冰雪旅游品 ...

Core Viewpoint - The "Three-Year Action Plan for High-Quality Development of Ice and Snow Tourism in Liaoning Province (2025-2027)" aims to enhance the province's ice and snow tourism industry, targeting over 260 million annual visitors and more than 250 billion yuan in revenue by 2027 [1][3]. Group 1: Development Goals - The plan includes the cultivation of 10 provincial-level ski resorts and the creation of over 10 premium ice and snow tourism routes [3][4]. - By 2027, the annual reception of visitors in the province is expected to exceed 260 million, with total revenue reaching over 250 billion yuan [1][3]. Group 2: Specific Measures - The plan outlines 14 specific measures to promote the upgrading of ice and snow tourism, focusing on resource development across professional, hobbyist, and general public dimensions [4]. - It encourages the construction of high-standard ski resorts and ice rinks in suitable areas to meet the needs of both competitive athletes and leisure enthusiasts [4]. Group 3: Multi-Industry Integration - The plan emphasizes the integration of ice and snow tourism with various sectors, including sports events, marine tourism, wellness, and local cuisine, to create a diverse product offering [5]. - It aims to shift ice and snow tourism from mere sightseeing to deep experiential activities, enhancing market vitality [5]. Group 4: Service Optimization - The plan proposes improvements in service infrastructure, including smart parking systems and multilingual guidance, to enhance visitor convenience [7]. - It also highlights the application of AI technology in tourism services, such as deploying AI consultation robots and holographic guides in key scenic areas [7]. Group 5: Event-Driven Development - The plan aims to leverage high-level ice and snow events to drive tourism growth, focusing on community participation and market cultivation [8]. - It encourages the creation of a "second venue" for events, integrating viewing experiences with tourism consumption [8]. Group 6: Regional Collaboration - The plan stresses the importance of regional collaboration to create a complementary and efficient ice and snow tourism development framework [9]. - It outlines specific strategies for different regions within Liaoning to enhance their unique tourism offerings and attract visitors [9].

从中国最北最冷的室外滑雪场运动，到全国纬度最低的室内滑冰雪场，冰雪运动热度不断攀升。 黑龙江漠河： 向北向美！"中国最北"享雪趣 黑龙江漠河北极滑雪场，是全国位置最北、纬度最高、雪期最长的室外滑雪场之一，各种有趣的文旅场景正精彩上演。 漠河北极滑雪场今年首推夜滑模式，游客们在冰雪欢乐中开启漫长的冬夜。漠河北极童话村雪雕园开园迎客，灯光秀把整个景区装扮得流光溢彩，雪地篝 火、烟花表演，让大家仿佛走进了一个童话世界。 浙江游客 邹春妹：晚上滑雪的话，跟白天是完全不一样的体验。晚上人少，灯光很亮堂，再加上有月亮，你拍的时候就会感觉月亮在追着你跑，特别帅。 在北极村，寒冷能把阳光冰封进肥皂泡泡。在祖国最北的沿江村落核心打卡地北字广场，"百'北'齐聚"的独特设计让大家漫步其间，沉浸式体验中感受"找 北"的乐趣。 零下三十几摄氏度，咬一口糖葫芦，品尝冰凉酸爽中的甜蜜。买一支漠河雪糕，感受一下地道的东北味道。大家在冰雪世界中，感受中国最北城市的文化魅 力。 湖北武汉： 特色冰雪消费场景燃动冰雪经济 在湖北武汉黄陂区，冰雪运动正带动文旅升温。 六条专业雪道如银练垂悬，十余种娱雪项目散落其间。在华中地区规模最大的室内滑雪场，甘 ...

Core Viewpoint - The article discusses the "Three-Year Action Plan for High-Quality Development of Ice and Snow Tourism in Liaoning Province (2025-2027)", which aims to significantly enhance the ice and snow tourism sector in Liaoning, targeting over 260 million annual visitors and more than 250 billion yuan in revenue by 2027 [1][2]. Group 1: Action Plan Overview - The action plan includes the cultivation of 10 provincial-level ski resorts and the creation of over 10 premium ice and snow tourism routes, aiming to enhance the overall consumption effect and brand influence of Liaoning's ice and snow tourism [2][3]. - The plan outlines 14 specific measures to promote the quality upgrade of ice and snow tourism, focusing on resource development across professional, hobbyist, and general public dimensions [3]. Group 2: Development Strategies - The plan emphasizes the need to develop high-standard ski resorts and ice rinks in suitable areas to meet the demands of both competitive athletes and casual enthusiasts [3]. - It encourages the construction of indoor ice venues and community-based ice amusement parks to cater to the general public's desire for ice-related experiences [3][4]. Group 3: Product Innovation - The action plan aims to transition ice and snow tourism from mere sightseeing to deep experiential activities, integrating various sectors such as sports events, marine tourism, wellness, and local cuisine [4]. - It promotes the development of a diverse product system, including unique ice and snow events and winter educational practices, to enhance market vitality [4]. Group 4: Service Optimization - The plan proposes improvements in service infrastructure, including smart parking systems and multilingual guidance, to enhance visitor convenience and accessibility [5][6]. - It highlights the application of AI technology in tourism services, such as deploying AI consultation machines and holographic projection systems in key scenic areas [5][6]. Group 5: Event-Driven Tourism - The action plan focuses on leveraging high-level ice and snow events to drive tourism development, creating a system that encourages public participation and market cultivation [6]. - It aims to establish a comprehensive tourism experience around events, integrating viewing, interaction, and consumption [6]. Group 6: Regional Collaboration - The plan stresses the importance of regional coordination to create a complementary and efficient ice and snow tourism development framework across Liaoning [7]. - It outlines strategies for different regions within Liaoning to develop unique ice and snow tourism products, enhancing the overall tourism appeal of the province [7].

为抢抓承办"十五冬"战略机遇，全面推进高品质冰雪旅游目的地建设，促进冰雪旅游消费提质升级， 《辽宁省冰雪旅游高质量发展三年行动计划（2025—2027年）》公开征求意见。其中提到，充分挖掘辽 宁冰雪文化内涵，健全完善专业型、爱好型、大众型三级产品体系，持续创新"冰雪+""+冰雪"多元业态 与消费场景，构建层次清晰、特色鲜明的辽宁冰雪旅游发展新格局，塑造具有辽宁辨识度的大众冰雪旅 游品牌。培育省级以上滑雪旅游度假地10个，打造冰雪旅游精品线路10条以上，冰雪旅游综合消费带动 效应显著增强，辽宁冰雪品牌影响力全面提升。力争到2027年，全省冰雪旅游年接待人次突破2.6亿， 年综合收入达到2500亿元以上。 江海证券指出，受到2022年北京冬奥热后续推动，我国冰雪运动持续升温，市场规模快速增长，2024 年，中国冰雪产业规模达到9800亿元，同比增长10.8%，预计2025年我国冰雪产业规模将突破1万亿 元。滑冰滑雪等冰雪运动项目已经从小众运动消费逐步迈向大众化消费，同时旅行和滑雪相结合，已经 成为了一种新的休闲娱乐和度假方式，成为了冬季旅游生活全新的体验。随着冬奥会和亚冬会在我国陆 续举办，带动了我国冰雪旅游政策 ...