当18岁的跳水冠军全红婵三天解锁滑雪换刃，17岁的冬奥冠军苏翊鸣隔空邀约，再加上格斗冠军张伟丽 出任长虹・国际雪联滑雪大跳台世界杯"耀雪大使"，这场横跨夏冬项目的冠军跨界联动，让冰雪运动在 社交平台持续"刷屏"。而即将开赛的这场顶级赛事，更让这份"顶流联动"带来的热度与万亿冰雪经济形 成强劲共振。 近日，全红婵的滑雪天赋惊艳全网，苏翊鸣的惺惺相惜彰显体育精神，张伟丽的跨界助力拓宽受众边 界。冠军们的示范效应，正打破冰雪运动的季节与项目壁垒，让"冷运动"走进大众视野，激发全民参与 热情。这恰是冰雪经济蓬勃发展的生动缩影——据《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，达到10053亿元。 据悉，12月4日至6日将在北京首钢园开赛的长虹・国际雪联滑雪大跳台世界杯，不仅有苏翊鸣领衔中国 队冲击米兰冬奥会积分，更承载着推动冰雪经济提质升级的使命，而冠军跨界联动带来的流量与热度， 将进一步激活冰雪消费潜力。 从冠军跨界"玩雪"到顶级赛事落地，从大众热情高涨到产业规模破万亿，冰雪经济正从单一运动项目， 成长为融合体育、文化、科技的多元产业。这场冬日热潮，不仅见证着全民健康生活方 ...

Group 1 - The core viewpoint of the articles highlights the significant growth and popularity of the ice and snow tourism industry in China, driven by government initiatives and consumer interest in winter sports [1][2][3] - Regions like Jilin and Xinjiang have announced extended winter holidays, encouraging families to engage in ice and snow activities, which has led to a surge in tourism and related spending [1] - The ice and snow industry in China is projected to exceed 1 trillion yuan, reaching 1,005.3 billion yuan this year, indicating a robust market expansion since the successful bid for the 2022 Winter Olympics [1] Group 2 - Recent data shows a remarkable increase in interest for ice and snow activities, with searches for nearby ski resorts up by 87% year-on-year, and ticket bookings for certain scenic spots doubling [2] - The quality of ski resorts in regions like Jilin, Hebei, and Heilongjiang is becoming more attractive due to their favorable geographical advantages, service upgrades, and competitive pricing [2] - Ski resorts are enhancing their services, such as introducing smart photography technology and free shuttle services, which are expected to improve the overall visitor experience and increase tourism flow [2][3] Group 3 - Various ski resorts are implementing service upgrades, including pet-friendly areas and unique entertainment events, which are expected to attract more visitors and enhance the overall appeal of the ice and snow tourism experience [3] - The economic impact of ski resorts extends beyond direct tourism revenue, with a reported 27.97% increase in consumer spending within a two-kilometer radius of ski areas, benefiting local businesses [3] - The development of the ice and snow economy is seen as a catalyst for regional growth, positively affecting surrounding industries and contributing to overall economic prosperity [3]

12月3日，港股主要指数持续下跌，恒指跌1.12%，国指跌1.34%，恒生科技指数跌1.5%。科网股集体下 挫，小鹏汽车跌超4%，蔚来、网易、哔哩哔哩跌超3%。港股消费板块午后持续震荡，港股消费ETF （513230）现跌超1%。从持仓股表现来看，小鹏汽车、巨子生物、哔哩哔哩、新秀丽、名创优品、快 手等跌幅居前，创科实业、老铺黄金、中国儒意、万洲国际、古茗等涨幅居前。 国金证券表示，预计到2030年，我国将基本形成供给与消费良性互动的高质量发展格局，消费对经济增 长的贡献稳步提升。实施方案明确四大方向：一是推动AI等新技术全面赋能消费品行业，促进功能化 与健康化创新；二是加快发展宠物、潮玩、户外运动等情绪价值驱动的新兴消费；三是支持国潮品牌通 过国际展会等方式加速出海；四是鼓励首发经济、即时零售、直播电商等新业态发展，并利用AI实现 精准供需匹配。整体来看，消费正朝着技术融合、情感链接、全球拓展和渠道创新的方向持续升级，结 构机遇显著。 华泰证券指出，2025年，新旧消费延续分化表现，"人货场"的变革与科技进步，正推动消费行业的快速 迭代创新与结构性成长机会，潮玩IP、美妆个护、现制饮品等新消费赛道涌现一批优 ...

盘前要闻 1、磷酸铁锂行业正在发生集体提价行动，机构称锂电行业供需拐点已至 类型：行业 情绪影响：正面 有报道称，磷酸铁锂行业正在发生一场集体提价行动。该报道显示，近期多家龙头企业已向客户发出明 确的涨价通知。龙蟠科技表示，公司销售人员也正在和客户积极沟通涨价事由。开源证券认为，动储需 求旺盛，锂电行业产业链供需拐点已至。 2、发改委主任郑栅洁：采取超常规措施，推动关键核心技术攻关取得突破 类型：宏观 情绪影响：正面 4、英伟达CFO访谈：OpenAI千亿大单尚未敲定，领先优势绝对没缩小 类型：公司 情绪影响：正面 国家发展改革委主任郑栅洁发文横，加快高水平科技自立自强，引领发展新质生产力。加强原始创新和 关键核心技术攻关，采取超常规措施，全链条推动重点领域关键核心技术攻关取得决定性突破。文章还 提出，要做强国内大循环，畅通国内国际双循环。坚持扩大内需这个战略基点，大力提振消费。 3、中央金融办副主任王江：增强上市公司分红稳定性、持续性和可预期性 类型：宏观 情绪影响：正面 中央金融办分管日常工作的副主任王江人民日报撰文指出，促进资本市场健康稳定发展，提高资本市场 制度包容性、适应性，增强上市公司分红稳定性、 ...

冰雪经济板块指数日K线图 郭晨凯 制图 ◎记者 费天元 12月2日，A股市场弱势整理，有色金属、AI应用等前期热点板块出现调整，拖累三大股指。截至收 盘，上证指数报3897.71点，跌0.42%；深证成指报13056.70点，跌0.68%；创业板指报3071.15点，跌 0.69%。沪深两市合计成交15934亿元，较前一日缩量2805亿元。 冰雪经济概念"火热" 本周前两个交易日，A股冰雪经济概念持续活跃。个股方面，冰山冷热昨日早盘直线拉升封住涨停，股 价录得两连板，公司主营工业制冷设备业务；雪人集团、晶雪节能、新世界、长白山等概念股跟涨。 商业航天概念多股涨停 商业航天概念近期持续升温，昨日相关概念股再度大涨，通宇通讯收获日线四连板，顺灏股份、航天发 展、雷科防务收获日线三连板，招标股份收获20%幅度涨停。 消息面上，据"中国运载火箭技术研究院"微信号消息，11月30日，由火箭院抓总研制的我国首艘火箭网 系回收海上平台命名为"领航者"，并成功交付，这标志着火箭院在可重复使用运载火箭技术链条上完成 了至关重要的一环，助推从技术验证到工程应用的跨越。目前，该平台已获得中国船级社（CCS）签发 的入级证书和法定证 ...

Core Insights - The rise of the ice and snow economy is driven by a dual interaction between new supply and new demand, leading to a dynamic balance that promotes high-quality economic development in China [1][4] Group 1: Market Trends - The ice and snow economy is becoming a new consumption hotspot, with activities like skiing, ice sculpture, and snow fishing gaining popularity [1] - In Harbin, the average daily search volume for the Ice and Snow World increased by nearly 163% since mid-October, indicating a surge in consumer interest [2] - The number of ice and snow-related enterprises in Harbin exceeded 2,300, with a compound annual growth rate of 23.6% over the past three years [2] Group 2: Economic Growth - China's ice and snow industry is projected to grow from 270 billion yuan in 2015 to 980 billion yuan in 2024, with expectations to surpass 1 trillion yuan by 2025 [4] - The participation in ice and snow sports and related consumption is expected to exceed 187.5 billion yuan during the 2024-2025 winter season, reflecting a year-on-year growth of over 25% [4] Group 3: Industry Integration - The "ice and snow +" model is expanding the economic landscape, integrating various sectors such as education, tourism, culture, and agriculture [5][6] - The integration of multiple business formats is enriching the service offerings of the ice and snow economy, transitioning from single sports consumption to a comprehensive experience [6] Group 4: Policy Support - The Chinese government has introduced a series of supportive policies to enhance the development of the ice and snow economy, including a recent directive with 24 measures to stimulate growth across the entire industry chain [7] - The application of new technologies like 5G and AI is driving high-quality development in ice and snow equipment manufacturing, enhancing user experience [7] Group 5: Future Outlook - The ongoing development of various new economic forms, such as the "first release economy" and "silver economy," is expected to further stimulate consumer demand and support the growth of the ice and snow economy [8] - The strategic focus on enhancing supply-demand compatibility aims to unlock the potential of China's vast market, contributing to sustainable economic growth [8]

联合资信 公用评级四部 |倪 昕 www.lhratings.com 研究报告 1 报告概要 www.lhratings.com 研究报告 2 黑龙江省农林资源丰富，畜牧业发展条件优异，经济总量处于全国下游水平，2024 年经济增速有 所放缓，人均 GDP 排名靠后。黑龙江省产业结构保持稳定，其中第三产业是拉动全省经济增长 的主要动力。随着冰雪经济出圈，黑龙江省文化旅游业维持高速发展。 2024 年，黑龙江省一般公共预算收入和政府性基金收入有所增长，规模在全国排名下游，财政自 给能力弱，上级补助收入对黑龙江省政府综合财力提供了有力支撑，政府债务率水平偏高。 黑龙江省各地级市经济实力分化明显，哈尔滨市经济发展水平处于领先地位；除大庆市外，黑龙 江省其他地级市人均 GDP 均低于全国平均水平。哈尔滨市综合财力远高于其他地级市，受区域 房地产市场持续低迷影响，部分地市政府性基金收入降幅较大，各地级市综合财力对上级补助的 依赖性高；绝大部分地级市政府债务率快速攀升，哈尔滨市政府债务率仍居黑龙江省首位。 随着部分地市城投债提前完成兑付，黑龙江省债券净融资金额持续为负，目前仅哈尔滨市和牡丹 江市有存续发债城投企业，整体存 ...

Group 1: Xinjiang Altay Region "Snow Holiday" - The "Snow Holiday" for primary and secondary school students in the Altay region of Xinjiang officially started, allowing students to enjoy a 9-day extended break [1] - A large number of students have flocked to the ski resorts in the Altay region, particularly the Jiangjun Mountain International Ski Resort [1][3] - During the "Snow Holiday," local ski resorts and cultural venues are offering various discounts, including free ski passes for students, half-price rentals for ski equipment, and discounted dining options [5] Group 2: Liaoning New Snow Season - Liaoning Province has launched 125 ice and snow events for the new snow season, aiming to engage over a million citizens in ice and snow activities [7] - The events include unique activities such as ice dragon boat racing, snow tug-of-war, and snow soccer, designed to attract more participants to winter sports [7] - Ski resorts in Liaoning have upgraded their infrastructure and added beginner slopes to cater to skiers of all skill levels [9]

新华财经北京12月2日电（记者丁雅雯、李唐宁）近日，随着全国多地迎来寒潮，冰雪消费迅速进入旺 季。各平台数据显示，冰雪经济正呈现全面升温态势。 冰雪运动热也带动相关产品销售走俏。消费平台"什么值得买"的数据显示，11月，平台滑雪袜、速干衣 GMV（商品交易总额）同比增长56.41%和26.25%。专业级装备品牌增长亮眼，Oakley与Burton的GMV 分别实现94.90%和80.88%的大幅提升。 值得关注的是，冰雪经济正从单一滑雪消费向多元冬季运动生态延伸。"什么值得买"数据显示，徒步、 骑行等项目持续走强，11月GMV分别同比增长34.36%和54.91%，登山鞋GMV更是同比激增303.40%。 攀岩、网球、普拉提等室内运动也同步增长，体现冬季运动消费正从"户外单点"向"户外+室内并行"发 展，形成更完整的运动消费生态。 （文章来源：新华财经） 美团旅行数据显示，近一周，平台"附近的滑雪场"的搜索量同比增长87%，"滑雪面罩""滑雪服"搜索热 度显著攀升。北京、张家口、哈尔滨、乌鲁木齐、深圳、上海、长春、沈阳、杭州、吉林等地市民对冰 雪运动热情最高。 途牛旅游网数据显示，近期冰雪游订单中，南方游客占 ...

Group 1 - The "snow holiday" in Altay, Xinjiang, offers students a 9-day break, attracting many to ski resorts [1][2] - During the snow holiday, local ski resorts and cultural venues provide special discounts for students, including free ski passes and reduced rental prices [8] - The local tourism bureau anticipates that the increased student participation in winter sports will boost local tourism and related sectors, such as accommodation and dining [10] Group 2 - In Liaoning, the new snow season features 125 ice and snow events aimed at engaging the public in winter sports [11][13] - The events include unique activities like ice dragon boat racing and snow soccer, designed to attract more participants [13] - Ski resorts in Liaoning have upgraded their facilities and added beginner slopes to cater to skiers of all skill levels [15]