Investment Rating - The report maintains a "Recommended" investment rating for the industry [5] Core Insights - The social retail sales total for March 2025 reached 4.09 trillion yuan, showing a year-on-year growth of 5.9%, exceeding the consensus forecast of 4.36% [2][19] - The total retail sales for the first quarter of 2025 amounted to 12.47 trillion yuan, with a year-on-year increase of 4.6%, accelerating by 1.1 percentage points compared to the previous year [2][19] - The report highlights the ongoing implementation of policies aimed at boosting domestic demand, including initiatives to integrate domestic and foreign trade [2][28] Market Performance - During the week of April 14-18, 2025, the Shenyin Wanguo indices for retail, social services, and beauty care sectors increased by 0.24%, 0.14%, and 0.43% respectively, ranking 18th, 21st, and 14th among 31 primary industries [11][12] - The internet e-commerce sector saw a notable increase of 5.69%, benefiting from policies promoting the integration of domestic and foreign trade [12][19] Key Industry Data and News - The report indicates that the retail sales of essential goods and some upgraded products showed strong growth, with food and daily necessities increasing by 12.2% and 6.8% respectively [19][26] - The beauty care sector is witnessing innovation, with companies like Proya launching new products and establishing global brand ambassadors [31][32] - The collectible card game company, Card Game, is set to surpass 10 billion yuan in revenue for 2024, reflecting significant growth in the entertainment sector [34] Company Announcements - Xiangyuan Cultural Tourism reported a revenue of 864.12 million yuan for 2024, marking a year-on-year increase of 19.64% [41] - Tongcheng Travel announced the acquisition of 100% of Wanda Hotel Management for approximately 2.49 billion yuan [42] - Upme Cosmetics plans to establish a joint venture to create a new cosmetics brand [43]

Core Viewpoint - The launch of the "AI + Parking" open ecosystem platform by Jieshun Technology is a strategic move to seize market opportunities in the context of the deep integration of the digital economy and the real economy, aiming to redefine the value logic of parking services and drive market upgrades through technological and model innovations [2][4]. Industry Overview - The parking industry faces significant challenges, with a parking space shortage exceeding 10 million in China, despite a vehicle ownership of 453 million [3]. - The traditional parking model is becoming a bottleneck for urban development, characterized by peak demand and underutilization during off-peak times, leading to inefficiencies and increased traffic congestion [3][6]. Company Strategy - Jieshun Technology's "AI + Parking" platform transitions parking management from passive to proactive services, creating a two-way closed loop that addresses the pain points of car owners while transforming parking lots from cost centers to profit centers [4][6]. - The platform aims to support the company's entire business line, leveraging a combination of hardware, platform, and operations, while aligning with national "new infrastructure" policies [4][8]. Market Position and Growth - Jieshun Technology has established a significant market presence with the Jiek Parking platform, covering 55,000 smart parking lots, 28.3 million connected parking spaces, and 130 million registered users, with a monthly service volume of 90 million vehicles [5][6]. - The company aims to connect 100,000 parking lots and serve 300 million car owners within three years, indicating a strong growth trajectory and potential to reshape the industry landscape [7][8]. Technological Innovation - The platform utilizes AI for dynamic scheduling and demand forecasting, improving parking space utilization from 60% to over 85%, potentially unlocking a market scale of approximately 200 billion [6][7]. - Jieshun Technology is the only company in the industry to publicly disclose its parking data foundation and vertical models, which serve as a core competitive advantage [6]. Ecosystem Collaboration - The platform has formed partnerships with over 200 ecosystem partners, integrating various services such as charging and shopping, creating a flow loop of "parking + consumption" [6][8]. - The company envisions a future where parking services are not just about parking but also about providing additional services to users, enhancing the overall value proposition [6][8]. Social Impact - Jieshun Technology collaborates closely with governments to alleviate parking pressures in urban areas, contributing to smart city initiatives and improving traffic management [7][8]. - The platform also addresses the needs of electric vehicle users by offering integrated solutions for parking and charging, anticipating user needs through data connectivity [7].

截至当日收盘，国芳集团、宁波中百、国光连锁均涨停，赫美集团（002356）、ST步步高（002251） 涨幅超5%，三江购物、丽尚国潮（600738）、中央商场（600280）、杭州解百涨幅居前，涨幅分别为 4.74%、4.56%、4.48%、4.46%，百大集团、美凯龙（601828）、徐家汇（002561）等跟涨。 其中，国芳集团4天3板，拉长时间看，4月该股已收9个涨停，最高涨幅达121%，昨日该股因上涨 10.01%登上龙虎榜，连续三个交易日内，涨幅偏离值累计达20%；国光连锁走出4连板，当日盘后，该 股发布公告称，公司股票在2025年4月16日、17日连续两个交易日内收盘价格涨幅偏离值累计达20%， 构成异常波动；宁波中百于当日9点43分涨停，未打开涨停，截至收盘封单资金为2774.58万元，占其流 通市值1.21%，近3日该股主力资金持续流入，共净流入6710.27万元；此外，杭州解百昨日早盘直线涨 停，但盘中快速回调，主力(dde大单净额)净流入7865.56万元。 商报讯(记者叶晓珺)近日，大消费主线持续走强，首发经济概念亦获益不少。昨日，首发经济概念股表 现抢眼，安记食品（603696）、国 ...

今年内，浙江、福建、吉林、西藏等多地印发文件，积极发展首发经济，为消费注入更多新动能。 日前，浙江省商务厅网站公布《关于促进首发经济高质量发展的实施方案》的通知，提出到2027年，新 品研发、生产、服务、发布、展示、推广、销售等首发经济体系基本健全，形成以创新为动力、产业升 级为导向、融合多元消费场景的首发经济生态圈。 福建省也印发了《促进首发经济高质量发展的若干措施》，省级商务发展专项资金安排2000万元，支持 打造国内外品牌首发、首秀、首展、首店的集聚高地和原创品牌孵化地。 吉林省商务厅也发布了《关于支持城市发展首发经济的若干措施》，支持建设首发集聚区，对固定资产 投资额亿元以上的，按照一定比例给予投资主体一次性补贴，最高补贴不超过1000万元。 西藏自治区也出台措施促进首发经济高质量发展，对符合中国（内地）首店、西南首店、西藏首店、旗 舰店要求的，分别给予150万元、100万元、70万元、40万元的一次性落户奖励，并在支持举办首发活动 方面，给予最高100万元补贴。 除上述省区外，上海明确对在3月份至5月份"首发上海"活动期间开设的亚洲及以上级别首店，予以120 万元的一次性奖励。成都提出力争到2027 ...

【重点关注】 ·商务部：与美方对口部门一直保持工作层沟通 ·六部门发文促进和规范金融业数据跨境流动 ·17日，据第三方数据机构统计，淘宝已经在16个国家App下载榜上排名第一，在123个国家排名前十， 大量海外消费者涌入淘宝。公开数据显示，4月12日，淘宝App海外下载量为104000，而到了4月15日， 这一数字达到326000，环比12日暴涨222%。其中仅iOS平台，北美地区下载量环比12日增长了483%， 欧洲则增长了439%。不少淘宝商家已经感受到海外流量暴增。 ·市场监管总局：严厉打击直播电商领域违法违规行为 ·淘宝已在16个国家App下载榜登顶 ·黄仁勋：英伟达将坚定不移服务中国市场 【国内要闻】 ·商务部新闻发言人何咏前表示，中国商务部与美方对口部门一直保持工作层沟通，中方的立场一直很 明确，对于美方进行经贸领域磋商持开放态度。单边加征关税措施完全由美方发起，解铃还须系铃人， 我们敦促美方，立即停止极限施压，停止胁迫讹诈，在相互尊重的基础上，与中方通过平等对话解决分 歧。 ·中国人民银行等六部门联合印发了《促进和规范金融业数据跨境流动合规指南》，《指南》旨在促进 中外资金融机构金融业数据跨境流 ...

首发经济涵盖了企业从产品或服务的首次发布、首次展出到首次落地开设门店、首次设立研发中心，再 到设立企业总部的链式发展全过程，是引领消费潮流、推动产业升级、实现经济繁荣的关键。为深入贯 彻落实党中央、国务院和省委、省政府决策部署，积极推进首发经济，结合浙江实际，提出以下实施方 案： 一、主要目标 坚持以习近平新时代中国特色社会主义思想为指导，全面贯彻党的二十大和二十届三中全会精神，紧密 围绕中央及省委经济工作会议部署，大力实施提振消费专项行动，拓展消费新业态新场景，加快释放消 费潜力。统筹推进门店首开、活动首秀、场景首建、模式首创和品牌建设，全力打响"浙里首发"品牌， 着力打造高能级首店汇聚地、新品首发优选地、国货潮品集聚地、浙江新品孵化地、消费生态融合创新 区。到2027年，新品研发、生产、服务、发布、展示、推广、销售等首发经济体系基本健全，形成以创 新为动力、产业升级为导向、融合多元消费场景的首发经济生态圈。全省引进各类首店2000家以上，高 能级首店200家以上，其中全国级别及以上首店超20家，孵化浙江本土首发品牌50个以上，引进培育总 部型企业20家以上，培育一批跨国公司和世界知名企业，举办新品首发首秀 ...

央视网消息：前不久，"首发上海3.0"政策重磅发布，进一步优化全球新品首发环境，吸引国内外大牌"抢滩"首秀。首发经济正成为 上海建设国际消费中心城市的新引擎。 自2022年焕新开放，张园已化身"国际品牌竞技场"，平均每周就有1.5场"全球上新"，日均客流3万人。近日，来自法国、日本等多个 国际品牌的首秀活动轮番上演，前来"尝鲜"的消费者络绎不绝。 12米高的充气雕塑，再加上全球首发的动画片，这几天，这个充满童年回忆的动漫形象，在上海迎来了它在中国内地的首展。不同 的特色美食再加上特色的展区，为大家打开了一扇通往动漫世界的任意门。 位于上海静安区的张园已经有140多年的历史。如今，这里已经吸引了30多个国内外品牌在这里开设"首店"。从百年石库门到新品首 发地，上海正以首发经济定义消费新玩法。 从"买得到"转向"最早拥有"，为了让消费者最早"尝鲜"，上海不断刷新创新速度。在张园的石库门里，国际品牌新品可以"一站式"完 成保税展示、验货和交易。 开"首店"、布首展、做首秀，如今，平均每天就有3家"首店"在上海与消费者见面，成为上海建设国际消费中心城市的新引擎。 坐落在上海张园的这栋石库门建筑，别看只有奶茶店大小，但 ...

金十数据4月14日讯，广州市培育建设国际消费中心城市工作领导小组办公室印发《广州市培育建设国 际消费中心城市2025年工作要点》，其中提到，落实首发经济促进政策奖励，发布首发空间指南2.0 版，推动成立广州首发促进中心。促进"IP+消费"，强化消费品牌引领，支持开发原创品牌产品，孵化 更多本土高层级新消费品牌。用好各类首发发布平台，支持国内外优质品牌在广州开展新品首发首秀首 展活动，打造特色首发活动品牌，推动更多首店落户广州。 （广州市商务局） 广州：积极推进首发经济 推动成立广州首发促进中心 ...

Core Viewpoint - The article highlights the significance of the fifth China International Consumer Products Expo (CICPE) as a platform for showcasing global consumer goods and promoting trade cooperation, particularly in the context of China's expanding market and the establishment of the Hainan Free Trade Port [2][6][10]. Group 1: Event Overview - The CICPE, held from April 13 to 18, features over 1,700 consumer enterprises and more than 4,100 brands from 71 countries and regions, with participation from 65 Fortune 500 companies [3][6]. - The event includes eight major exhibition halls focusing on various consumer trends such as technology, health, and green consumption [3][6]. Group 2: Economic and Trade Cooperation - The expo serves as a significant platform for deepening economic and trade cooperation, aiming for mutual benefits and enhanced interaction between global and Chinese enterprises [5][9]. - The Hainan Free Trade Port is expected to facilitate smoother trade and investment with policies like "zero tariffs, low tax rates, and simplified tax systems" [7][10]. Group 3: Consumer Market Insights - China's retail sales are projected to reach 48.8 trillion yuan in 2024, reflecting a 3.5% increase from the previous year, with a cumulative import of 7.4 trillion yuan in consumer goods from 2021 to 2024 [10][11]. - The government is focused on expanding domestic demand and enhancing consumer spending through various initiatives, including promoting consumption upgrades and organizing consumption activities [11][12]. Group 4: Participation of Global Brands - The UK is the guest country of honor at this year's expo, showcasing 53 brands, which is double the number from the previous year [16][17]. - Major global brands like Estée Lauder, Volkswagen, and Charoen Pokphand Group are participating, indicating the expo's role as a barometer for the Chinese consumer market [13][19]. Group 5: Innovations and New Products - The expo will feature a new consumption technology exhibition area, showcasing innovations from leading tech companies like Huawei and Tesla [18]. - Numerous listed companies are participating, with many launching new products, highlighting the vitality of the "first launch economy" [20][22].

Core Insights - The fifth China International Consumer Products Expo has opened, showcasing the "Beautiful Guangxi" theme pavilion with a focus on "New Vitality of Intangible Cultural Heritage and New Life with AI" [1] - The expo, running from April 13 to 18, has attracted over 1,700 consumer enterprises and more than 4,100 brands from over 70 countries and regions [1] - The Guangxi pavilion features eight thematic exhibition areas, displaying over 150 products from nearly 50 quality enterprises in Guangxi [1] Group 1 - The "Intelligent Manufacturing Guangxi" area showcases advanced technologies such as intelligent cloud platforms and quadruped robots, including an AI guitar that simplifies complex playing techniques [2] - The "Old Brand" area features local specialties like Guilin Sanhua liquor and various handicrafts, appealing to consumers with high-quality and colorful products [2] - The "Purchasing in Guangxi - Foreign Trade Quality Products" area highlights unique consumer goods from six pilot cities in Guangxi, showcasing the region's consumption charm and industrial characteristics [2] Group 2 - Guangxi Nongken Xijiang Dairy Co., Ltd. is debuting eight water buffalo milk products at the expo, receiving significant interest from over 50 professional visitors on the first day [3] - The Guangxi pavilion will host activities focusing on "Artificial Intelligence + Consumption," promoting "Guangxi Products" and enhancing market recognition to accelerate the export of local products [3] - The expo aims to build an open consumer market that integrates domestic and foreign trade, facilitating a "buy globally, sell globally" approach [3]