Core Insights - Chengdu East New Area is leveraging scene innovation to enhance the transformation of results, promoting deep integration of technological and industrial innovation [1][2] - The "front store, back factory" model implemented by Chengdu Anke Xing Technology Co., Ltd. in Chengdu Future Medical City signifies a new development model that reshapes the industrial ecosystem and stimulates new consumption potential [1] Group 1: Scene Innovation and Industrial Ecosystem - The unveiling of the "front store, back factory" innovation scene marks a significant step in reshaping the industrial ecosystem within the park, aiming to cultivate new productive forces and stimulate consumption [1] - The model integrates research, production, and consumer experience, allowing for direct consumer access to newly developed technological skincare products, effectively reducing the distance from laboratory to shelf [1] Group 2: Enterprise Support System - Chengdu Future Medical City has established a robust "We Hello" enterprise service system, focusing on innovation-driven and service-enabled approaches, which includes a comprehensive "1+2+3+N" service framework [2] - The service system provides a three-tier response mechanism to meet the lifecycle needs of enterprises, ensuring precise alignment between enterprise services and industrial demands [2] - Financial products like the "Future Medical Sci-Tech Loan" support startups by offering no-collateral, no-flow loans, facilitating technological innovation and industrial upgrades [2] Group 3: Future Development and Economic Growth - Chengdu Future Medical City plans to create more diverse innovation scenes and explore new pathways for technology transformation, aiming to inject new momentum into regional economic high-quality development [2]

Group 1 - The event in Chengdu focused on the release of 38 government-end technology application scenario demand lists and 23 enterprise-end technology application capability lists, covering 19 strategic emerging fields including traditional Chinese medicine, aviation power, advanced energy, low-altitude economy, and artificial intelligence [1][2] - Key government-end scenarios highlighted include "Low-altitude Rural Logistics System Construction," "Tianfu Traditional Chinese Medicine Innovation Port," and "Longmen Mountain Cloud-based Sightseeing Vacation" [1] - The event aims to facilitate cooperation between supply and demand, laying the foundation for future collaborative scenario construction [1] Group 2 - The released lists emphasize the first trial and application of "new technologies and new products," addressing specific industry development needs [2] - In the traditional Chinese medicine sector, two application scenarios were introduced, including a "Digital Traditional Chinese Medicine Museum" [2] - The next steps for the city include focusing on bridging the "last mile" of technology achievement transformation and using scenario innovation as a key driver for integrating various chains and promoting effective market demand linkage [2]

Core Viewpoint - Shenzhen is focusing on "scene innovation" to transform the entire city into a testing ground for new technologies and products, with Bao'an district aiming to become the first national benchmark for "fully open application scenarios" by 2025 [1] Group 1: Scene Innovation Initiatives - Bao'an district plans to open over 100 innovative application scenarios annually, releasing more than 1,000 new technologies, products, and solutions, aiming to stimulate application amounts exceeding 100 billion yuan [1] - The Bao'an district government is implementing policies such as "four lists," "zero rent for a million spaces," and "dual seed fund empowerment for innovation and entrepreneurship" to support this initiative [9] Group 2: Corporate Engagement and Development - Companies are actively participating in the open scene initiatives, with the Bao'an district serving as a "technical training ground" for enterprises to test and implement their innovations [4] - The establishment of an AI acupuncture robot at Bao'an District Traditional Chinese Medicine Hospital exemplifies how the open medical scene facilitates the rapid deployment of innovative medical devices [3] Group 3: Technological Advancements and Applications - The introduction of a domestic ultrasonic knife in Bao'an District People's Hospital highlights the collaboration between local medical institutions and companies to enhance product development through real clinical needs [5] - AI-powered tools, such as the AI assistant in hospitals, significantly reduce the time required for tasks like medical record creation, showcasing the efficiency gains from the open application scenarios [6] Group 4: Market Expansion and Feedback - Companies like Gaia Palaka are leveraging real-world feedback from events in Bao'an to iterate and improve their AI products, demonstrating the value of practical application scenarios for innovation [6] - The Bao'an swimming pool's new energy charging station illustrates how the open scene approach supports technological innovation and product deployment, benefiting both companies and consumers [7] Group 5: Future Prospects - The ongoing scene opening in Bao'an is expected to lead to the emergence of more successful enterprises, as the district continues to release potential application scenarios for innovation [9]

Group 1 - The core trend in the industry is driven by IP and social engagement, with leading brands like LEGO, Pop Mart, Bandai, and miHoYo focusing on emotional connections with users through strong IP content and immersive experiences [2] - LEGO maintains the top position with a heat index of 1.93, leveraging classic building blocks combined with popular IPs from films and games, appealing to a wide age range [2] - Pop Mart is expanding its product categories and enhancing its brand experience, as evidenced by the opening of its global flagship store in Shanghai, which has generated significant social media buzz [2] Group 2 - Technology empowerment and scene innovation are key competitive factors, with brands like GİİKER, Ruolai, and Mideer making notable advancements in their respective niches [3] - GİİKER focuses on smart toys and games, introducing products that cater to parents' demands for STEAM education [3] - Mideer has successfully differentiated itself in the puzzle segment by developing products that incorporate Chinese historical stories and cultural themes, enhancing educational value [3]

Group 1 - The core concept of Tianjin Electric Mall is to create an urban micro-vacation destination by integrating cultural experiences, themed consumption, and family interaction through an "all-domain consumption + immersive amusement matrix" model [1] - During the May Day holiday, the "Dream Maker Custom City" promotional event achieved significant results, with over 10,000 visitors and some products priced up to 40% lower than market prices [1] - The mall's new business model of "full-chain direct supply + scene experience" has led to a multi-dimensional breakthrough in consumer upgrades, particularly in smart home and customization services [1] Group 2 - The Antique Porcelain Trading Center at Tianjin Electric Mall launched a cross-national ceramic art appreciation event, showcasing treasures from renowned kilns and injecting new energy into the folk collection market through professional appraisal services [3] - The event has established itself as a large-scale cultural display and exchange platform in the southwestern region of Tianjin, relying on an online and offline integrated trading model [3] Group 3 - The "Power Workshop" four-wheel drive car theme event during the holiday attracted significant attention, with a 40% increase in foot traffic to the auto city and a 65% increase in the time families spent in the vehicle exhibition area [5] - This event successfully combined cultural experiences with consumption scenarios, enhancing customer engagement [5] Group 4 - The new tea drink brand "Lu Shang Ting Xi," which features a "new Chinese camping aesthetic," has become a phenomenon, attracting over 200 groups of customers daily, with 78% of visitors aged 18-35 [7] - Customers highly appreciated the visual expression that deconstructs traditional elements, indicating a strong intent to return [7] Group 5 - Tianjin Electric Mall has developed a diverse entertainment matrix, including various immersive experiences, achieving a 65% year-on-year increase in visitor numbers during the holiday [8] - The mall's strategy focuses on cultural IP incubation, technological empowerment, and scene innovation, leading to significant increases in overall foot traffic and sales during the May Day period [8] - The future strategy includes deepening the integration of commerce, travel, and culture, while continuing to introduce innovative business formats [8]

新华社沈阳5月7日电（记者于也童、刘艺淳）东北首个悬空光影跑道成为新晋"顶流"、毕加索艺术展单 日万人打卡、中医药夜市开启引流新玩法……这个"五一"，沈阳以"首发经济"破局。 5月1日至5日，沈阳市累计接待游客超一千万人次，同比增长21.65%。 根据第三方数据显示，"五一"假期，沈阳市文旅消费规模在全国排名第17。沈阳方城、沈阳市植物园、 辽宁省科学技术馆、辽宁省博物馆、沈阳工业博物馆、沈阳新乐遗址博物馆等24处重点监测场景接待游 客数量再创新高。 沈阳老北市里人流密集。新华社发 作为东北首个"体育+"大型商业综合体，沈阳环球港动感城于5月1日启幕，首日客流达10万人次，称得 上"首发即顶流"。"孩子听说这里能玩到20多项运动，早就盼着来打卡了。"沈阳市民杨洁说。 当浑河外滩的游船派对遇上辽宁中医药夜市，沈阳用"时空混搭"重构消费场景。中医药夜市开辟"把脉 +撸串"新体验，近200位专家坐镇打造"边养生边打卡"的新玩法。在中街、太原街、西塔美食街、北市 场、彩电塔夜市等夜经济街区，从特色小吃到饕餮大餐的"沈阳味道"吸引各地游客。有网友戏称："在 沈阳，白天玩转未来科技，深夜穿越千年文明。" "首发经济"为体 ...

Group 1 - The core idea of the articles highlights the integration of culture and tourism during the May Day holiday, with various cities promoting cultural consumption through innovative events and exhibitions [1][2] - The digital exhibition "Guan and His Friends" in Suzhou utilized advanced technologies like AI, AR, and VR to narrate the stories of traditional garments and local heritage, enhancing the cultural attributes of the area [1] - The collaboration between cultural and commercial entities, such as the integration of boat tours, digital exhibitions, and dining experiences, aims to boost consumer potential in Suzhou's historical districts [1] Group 2 - The tourism performance in ancient cities is being revitalized through cultural activation and innovative scene creation, leading to a shift from static sightseeing to dynamic experiences [2] - The development of night economy and diverse entertainment options in scenic areas is expected to encourage tourists to stay longer, thus enhancing overall tourism revenue [2] - The implementation of ancient city renewal plans is fostering a new consumption pattern that resonates with both historical significance and modern consumer behavior [2]

Core Viewpoint - The "Foreign Trade Quality Products" series of events in Shandong Province aims to boost holiday consumption through an innovative "tourism + foreign trade" model, showcasing high-quality international products from local exporters [1][3]. Group 1: Event Overview - The first event took place at Daming Lake in Jinan, with simultaneous activities in four other popular tourist areas, featuring 56 foreign trade companies and over a hundred international quality products [1][3]. - The event focuses on six key scenarios: entering scenic spots, business circles, pedestrian streets, government agencies, universities, and communities, offering direct supply of quality goods at local prices [3]. Group 2: Consumer Engagement - The main venue at Daming Lake included six themed areas with interactive experiences, attracting over 30,000 visitors on the first day, with promotional activities leading to a single-day visitor count exceeding 10,000 [5]. - Popular products included textiles and clothing, with significant interest from young tourists in domestic cultural and creative products, resulting in multiple group purchase intentions within just half a day [5]. Group 3: Future Plans - Shandong Province plans to hold 300 more "Foreign Trade Quality Products" events by the end of the year, aiming to expand 500 domestic sales outlets and cultivate 100 integrated demonstration enterprises [6]. - The initiative seeks to establish a long-term mechanism combining "scene integration + channel empowerment" to enhance the local economy [6].

为了保障场景创新工作的顺利推进，郫都区同步发布了《助力郫都区场景创新建设，推动产业高质量发 展10条扶持政策》，从多个维度为企业提供强有力的政策支持。 近年来，郫都区始终坚持把增强科技创新能力摆在突出位置，强化政策支持、深化要素保障、优化营商 环境，促进科技创新的"关键变量"转化为高质量发展的"最大增量"，推动"双创基地"向"科创高地"跃 升。全区已聚集华为（西南）数字机器人创新中心、华为（四川）人工智能与智改数转创新推广中心等 市级以上研发机构和创新服务机构79个，为场景创新提供了坚实的技术支撑。 此次郫都区场景创新清单发布活动，通过精准的需求清单和有力的扶持政策，搭建起了产业创新的桥 梁，为区域经济的高质量发展奠定了坚实基础。未来，郫都区将持续深化场景创新工作，推动更多"创 新场景"转化为"产业实景"，在科技创新的道路上不断迈进，实现经济发展的新跨越。 企业端场景紧密围绕企业生产经营需求，助力企业降本增效和产业升级。德源街道东林村蒜稻基地蒜薹 机器人采摘研发场景针对传统蒜苔产业痛点，利用5G物联网和区块链溯源技术，大幅提升采摘效率和 产品品质；东方电气（成都）氢能科技有限公司的氢能生态场景，则是为打造氢能 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a revenue of 268.79 billion yuan for 2024, representing a year-on-year growth of 15.9%, with a net profit attributable to shareholders of 13.37 billion yuan, up 22.0% year-on-year [4][5] - In Q1 2025, the company achieved a revenue of 61.79 billion yuan, a year-on-year increase of 17.9%, and a net profit of 3.04 billion yuan, up 23.2% year-on-year [4][5] - The company expects a net profit attributable to shareholders for the first half of 2025 to be between 6.48 billion and 6.75 billion yuan, reflecting a year-on-year growth of 20%-25% [4] Summary by Sections Financial Performance - In 2024, the company achieved a comprehensive gross margin of 10.4%, down from 11.6% in 2023, primarily due to losses from certain smart wearable products and short-term overcapacity in domestic production [5] - The gross margin for Q1 2025 improved to 11.2%, an increase of 0.4 percentage points year-on-year, attributed to continuous internal management improvements and cost optimization [5] Business Segments - The consumer electronics segment generated revenue of 224.09 billion yuan in 2024, maintaining rapid growth through a three-pronged strategy of "scene ecology, AI empowerment, and global collaboration" [6] - The communications segment reported revenue of 18.36 billion yuan in 2024, a year-on-year increase of 26.3%, driven by growth in component business [7] - The automotive segment achieved revenue of 13.76 billion yuan in 2024, a significant year-on-year growth of 48.7%, with expectations for continued high growth in 2025 [8] Profit Forecast - The company forecasts net profits attributable to shareholders of 17 billion yuan, 21.3 billion yuan, and 24.9 billion yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 2.34, 2.94, and 3.44 yuan per share [9][10]