12月3日，吉林中小学生首个"雪假"正式开启，叠加冰雪游旺季来临，极大激发了吉林的冰雪游热 度。此前，吉林省文化和旅游厅宣布，面向全省义务教育学生，将2025年12月3日至7日设立为"冰雪假 期"，同时鼓励职工带薪休假，并面向学生和家长出台多项优惠政策，以推动冰雪运动普及与发展，繁 荣冰雪市场。 吉林省内的本地度假及酒店、景区的预订热度已大幅攀升，同程旅行平台数据显示，11月30日至12 月2日，"雪假"期间（12月3日至7日）的吉林本地的1日游、2日游和3日游产品整体预订热度周环比增幅 超6.5倍，人气较高的产品主要有：2天1晚长白山北坡+天池+延吉+雪绒花驯鹿园、3天2晚延吉+长白山 +图们+雪岭+魔界漂流等。 "雪假"期间，吉林当地面向中小学生群体推出了门票优惠的促销费政策，推高了吉林本地居民的亲 子游热度，并与省外的冰雪游客流形成叠加。同程旅行平台数据显示，"雪假"期间延边、长春、吉林等 多地的酒店和重点景区的预订热度均显著上升。截至12月2日，长春等地的酒店预订热度同比增长近两 成，延边等地主要景区的预订热度环比增长超240%。"雪假"期间，吉林省内热度较高的景区主要有长 白山景区、净月潭、长春莲花 ...

Core Viewpoint - The winter tourism economy in Harbin is experiencing a significant boost, driven by the increasing popularity of ice and snow activities, leading to diverse business opportunities in the region [1]. Group 1: Ice and Snow Tourism - The indoor Dream Ice and Snow Pavilion is currently welcoming visitors, ensuring a seamless transition to the outdoor attractions that will open later in December [3]. - Since November, there has been a rapid increase in flight bookings to Harbin, indicating a growing interest in winter tourism [3]. - Hotel prices in Harbin are expected to remain relatively high from mid-December 2025 until the Spring Festival in 2026 [3]. Group 2: Creative Design and Cultural Products - Harbin's Creative Design Center is developing various ice and snow-themed cultural products, including smart temperature-controlled down jackets, which have garnered significant attention [5]. - The center's design service output is projected to reach nearly 100 million yuan by 2025, with several product lines achieving annual sales exceeding 30 million yuan [5]. - Collaborations with southern enterprises are being leveraged to enhance market reach and service offerings across various sectors [5]. Group 3: Sports Equipment Development - Qianmao Xuelong Sports Goods Co., Ltd. is manufacturing a full range of ice and snow sports equipment, covering 80% of China's ski resorts [6]. - The company’s snowboards utilize advanced aerospace composite materials, making them lightweight and durable, with prices significantly lower than imported alternatives [6]. - These products have been tested by the Chinese national ski team and are expected to be featured in the 2026 Milan Winter Olympics, with plans to expand into international markets [6].

Core Insights - Jilin Province has launched a 5-day "Ice and Snow Holiday," significantly boosting winter tourism and consumption, particularly among students and families [1][3] Group 1: Policy Impact - The policy allows students in compulsory education to experience a free 3-hour ice and snow course and enjoy a 30% discount on tickets for accompanying parents [1] - Schools are instructed not to schedule classroom activities or assign written homework during the holiday, leading to increased attendance at ski resorts [1] Group 2: Visitor Statistics - The Wuqishan Ski Resort expects around 4,000 visitors on the first day of the holiday, showing a significant increase compared to the same period last year [3] - The Yanji City Sports Center ice rink welcomed approximately 200 students on the same day, with an expected total of nearly 180,000 visitors throughout the season [5] Group 3: Long-term Economic Effects - Experts believe the "Ice and Snow Holiday" will have a lasting impact by expanding participation in ice and snow sports, potentially leading to stable future consumption from the student demographic [5] - The consumption structure in Jilin is shifting from single-point to full-chain consumption, with the holiday expected to drive sales of snow tickets, ice sports equipment, and related services such as dining and accommodation [5]

Group 1 - The hotel and catering concept stocks are rising against the trend, with Tongqilou (605108) recovering from a drop of over 5% to close at the daily limit [1][7] - The A-share market experienced a slight adjustment, with the Shenzhen Component Index falling below 13,000 points and the North Exchange 50 dropping below 1,400 points, while the STAR Market Index tested the 1,300-point support [1][2] - The overall market saw more declining stocks than rising ones, with a total transaction volume of 1.68 trillion yuan [1] Group 2 - The hotel and catering sector index reached a six-month high, with significant gains in stocks like Xi'an Catering, Shoulu Hotel, and Jinjiang Hotel [7] - The net inflow of main funds into the non-ferrous metals sector exceeded 4.6 billion yuan, while machinery equipment saw over 3.8 billion yuan in net inflow [6] - The hotel sector's overall profitability is expected to stabilize and recover, with mid-to-high-end chain hotel leaders having expansion potential [11] Group 3 - The "ice and snow economy" is being promoted in northern regions, with Jilin Province establishing an "ice and snow holiday" for students from December 3 to 7, 2025, to encourage winter sports [10] - Flight bookings for children aged 0-12 increased by 60.7% year-on-year, while bookings for teenagers aged 13-18 rose by 57.8% during the early part of the winter vacation [10] - Hotel bookings for various theme parks during the winter vacation saw over 50% year-on-year growth, with specific hotels experiencing significant increases in reservations [10]

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、 ...

Group 1 - The A-share market is experiencing a weak consolidation, with major indices declining, including the Shanghai Composite Index down 0.42% to 3897.71 points, Shenzhen Component Index down 0.68% to 13056.70 points, and ChiNext Index down 0.69% to 3071.15 points, with total trading volume decreasing by 280.5 billion yuan to 1.5934 trillion yuan [2] - The ice and snow economy concept is gaining traction, with stocks like Iceberg Cold and Snowman Group seeing significant increases, driven by a new initiative in Jilin Province that designates December 3-7, 2025, as "Ice and Snow Holiday" for students, promoting ice and snow sports [2] - According to a report by Tongcheng Travel, there has been a rapid increase in flight bookings to popular ice and snow destinations since November, indicating a growing interest in ice and snow tourism, with ski resorts and themed parks expected to be major attractions [3] Group 2 - The commercial aerospace sector is witnessing a surge, with stocks like Tongyu Communication and Shunhao Co. experiencing consecutive gains, following the successful delivery of China's first rocket recovery platform, "Navigator," which enhances the country's capabilities in reusable rocket technology [4] - The National Space Administration has issued a plan for the high-quality development of the commercial aerospace industry from 2025 to 2027, aiming for significant growth and improved safety and innovation within the sector [5] - There is optimism for a year-end market rally in A-shares, supported by favorable conditions such as a vacuum in the fundamental market, rising policy expectations, and historical trends indicating upward movements during this period [6]

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]