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潮宏基(002345):持续深耕产品,国内国外齐开花
HUAXI Securities· 2025-08-24 11:33
证券研究报告|公司点评报告 [Table_Title] 持续深耕产品,国内国外齐开花 [Table_Title2] 潮宏基(002345) [Table_Date] 2025 年 08 月 24 日 [Table_Summary] 事件概述 2025H1,公司实现营收 41.02 亿元/+19.54%,归母净利润 3.31 亿元/+44.34%;单 Q2 来看,实现营收 18.50 亿 元/+13.13%,归母净利润 1.42 亿元/+44.29%。 分析判断: ► 持续深耕产品,推动单店业绩提升 分业务来看,2025H1,珠宝业务收入 39.73 亿元/+21.22%,其中,时尚珠宝/传统黄金产品收入同比 +20.33%/+23.95%;公司持续深耕产品,以现代设计语言重新诠释传统非遗工艺,同时增加"东方美学"特色 黄金产品线,巩固"串珠编绳"特色专柜优势,并围绕"年轻化 IP 心智"战略,上半年成功推出布丁狗、人 鱼汉顿、线条小狗、黄油小熊四个 IP 授权系列。2025H1,皮具业务收入 1.23 亿元/-17.77%。 ► 加盟门店持续扩张,国际化布局更进一步 分渠道来看,2025H1,加盟代理/自营/ ...
浙江小百花越剧院赴法兰克福上演越剧经典
Xin Hua Wang· 2025-08-24 09:05
德国观众安德烈亚斯走出剧场时说,虽然这些唱词理解起来并不容易,但演员们的唱腔非常优美,爱情 故事的情节跌宕起伏,触达人心。 新华社法兰克福8月24日电(记者马悦然)浙江小百花越剧院23日在德国法兰克福的保罗·欣德米特厅为 当地观众带来《爱情的花园》越剧折子戏专场演出,现场座无虚席,近700名观众得以近距离感受中国 越剧的婉转与深情。 演出汇集《梁祝·十八相送》《梁祝·楼台会》《红楼梦·葬花吟》《牡丹亭·幽媾》四出越剧经典折子戏。 演员们华服流转、水袖翩跹,声声清越,将东方美学中的含蓄与张力表达得淋漓尽致。 浙江小百花越剧院副院长蔡浙飞在《牡丹亭·幽媾》这一经典越剧选段中饰演柳梦梅。她说:"艺术的表 演与情感没有国界,即使语言不同,观众也能感受到其中的美。" 观众加比女士在中国朋友的邀请下一起来观看演出。她说:"第一次看中国传统越剧演出,是与众不同 的体验,越剧中爱情故事的情节富有戏剧性,演员们的表演令人沉醉。" 当天,越剧演员们还在法兰克福老歌剧院等地标性建筑前上演沉浸式快闪,独特的东方韵味吸引了当地 民众驻足观看。 ...
毛戈平(1318.HK):以专业筑高端 打造东方之美
Ge Long Hui· 2025-08-19 02:57
Core Insights - The company, founded by Mr. Mao Ge Ping in 2000, focuses on integrating art and products to create a competitive cosmetics brand with a revenue of 3.885 billion yuan in 2024, including 2.304 billion yuan from color cosmetics, 1.429 billion yuan from skincare, and 0.152 billion yuan from makeup training, achieving a net profit of 0.881 billion yuan [1] Group 1: Brand Positioning and Development - The company is positioned as a high-end brand, leveraging Mr. Mao's extensive experience as a renowned makeup artist to enhance brand perception and marketing efforts [2] - The brand has a high customer retention rate, with an overall repurchase rate of 30.9% and a higher offline repurchase rate of 34.9% in 2024 [2] Group 2: Growth Drivers - The company has expanded its distribution channels significantly, with 409 offline counters by the end of 2024, including 378 direct-operated counters, and online sales accounting for 47.8% of total product sales [2] - Color cosmetics remain the core product line with sales of 2.304 billion yuan in 2024, a year-on-year increase of 42.04%, while skincare sales reached 1.429 billion yuan, up 23.21% year-on-year [2] Group 3: Future Outlook and Financial Projections - The company is expected to continue its growth trajectory, with projected net profits of 1.16 billion yuan, 1.53 billion yuan, and 1.96 billion yuan for 2025, 2026, and 2027 respectively, corresponding to price-to-earnings ratios of approximately 37, 28, and 22 times based on current market valuation [3]
毛戈平(01318):以专业筑高端,打造东方之美
Ping An Securities· 2025-08-18 08:21
Investment Rating - The report gives a "Buy" rating for the company, marking its first coverage [1]. Core Viewpoints - The company is positioned as a high-end beauty brand in China, leveraging its founder's expertise in Eastern aesthetics and professional quality to create a competitive edge in the cosmetics market [5][6]. - The company has shown significant revenue growth, with projected revenues reaching 3.885 billion yuan in 2024, up 34.6% year-on-year, and net profits expected to hit 881 million yuan, reflecting an 88% increase [4][6]. - The brand's strong market presence is supported by a family-run business model, extensive experience in the beauty industry, and effective marketing strategies that resonate with younger consumers [5][6][25]. Summary by Sections 1. Market Overview - The Chinese cosmetics market is projected to grow at a compound annual growth rate (CAGR) of approximately 8.4% from 2023 to 2028, reaching 175.2 billion yuan by 2028 [10]. 2. Company Profile - Founded in 2000, the company has established itself as a leader in high-end domestic cosmetics, with a focus on integrating art and product development [5][14]. - The company operates under a family business model, with significant ownership held by the founder and family members, ensuring a cohesive strategic direction [22][24]. 3. Financial Performance - The company reported revenues of 2.886 billion yuan in 2023, with a projected increase to 3.885 billion yuan in 2024, and net profits expected to rise from 662 million yuan to 881 million yuan in the same period [4][6][26]. - The gross margin remains high, with cosmetic products achieving over 80% gross margin, indicating strong profitability compared to peers [29][30]. 4. Brand Development and Marketing - The brand has successfully built a strong identity through collaborations with cultural institutions and participation in major events, enhancing its market positioning [36][37]. - The company has expanded its online presence significantly, with online sales accounting for 47.8% of total revenue in 2024, reflecting a strategic shift towards digital marketing [5][6][9]. 5. Product and Channel Expansion - The company has diversified its product offerings, with color cosmetics generating 2.304 billion yuan in sales in 2024, and skincare products contributing 1.429 billion yuan [5][6]. - The company continues to explore new product categories, including the introduction of a fragrance line in 2025, which is expected to drive future growth [5][6].
38岁赵丽颖,面相变了:从“土妞”到高级美,她做对了这件事
首席商业评论· 2025-08-18 04:41
Core Viewpoint - The article emphasizes the significance of Chinese aesthetics and its historical depth, showcasing how traditional Chinese art and design have influenced global aesthetics and continue to hold value in contemporary culture [4][10][40]. Summary by Sections Section 1: Transformation of Aesthetics - Zhao Liying's recent photoshoot reflects a transformation in her appearance and aura, showcasing the beauty of Chinese aesthetics [2][6]. - The article notes the shift from being criticized for a lack of sophistication to embodying a refined Chinese style that resonates with both local and international audiences [4][6]. Section 2: Historical Context of Chinese Aesthetics - The article discusses how Western art has often drawn inspiration from Chinese aesthetics, citing examples from history where European nobility admired and collected Chinese art [19][22]. - It highlights the long-standing appreciation for Chinese art, with references to historical figures and their collections that celebrated Chinese aesthetics [19][22]. Section 3: The Value of Chinese Art - A significant focus is placed on a comprehensive art book that compiles nearly 200 masterpieces from Chinese history, emphasizing its educational value and the depth of Chinese artistic heritage [26][42]. - The book is described as a treasure trove of Chinese art, offering insights into various historical periods and artistic techniques, making it a valuable resource for understanding Chinese aesthetics [30][32][40]. Section 4: Educational Importance - The article advocates for the importance of educating future generations about Chinese aesthetics, suggesting that understanding this heritage can enhance one's appreciation for art and culture [52][66]. - It encourages families to invest in resources that promote artistic literacy and cultural understanding, particularly through the highlighted art book [53][66]. Section 5: Accessibility and Promotion - The book is presented as an accessible means to explore Chinese art, with a promotional price significantly lower than its original value, making it an attractive option for collectors and art enthusiasts [55][93]. - The article emphasizes the book's luxurious presentation and the unique opportunity it provides to experience Chinese art in a detailed and immersive way [88][90].
(成都世运会)世运会里的非遗之约:东方美学与世界温柔相遇
Zhong Guo Xin Wen Wang· 2025-08-16 07:03
Core Perspective - The integration of traditional Chinese intangible cultural heritage (ICH) with the World University Games showcases the beauty of Eastern aesthetics and cultural exchange with the world [1][2]. Group 1: Cultural Exchange at the Event - The opening ceremony featured a guiding sign made from Daoming bamboo weaving, incorporating various traditional crafts, highlighting the essence of Eastern aesthetics [1]. - Athletes engaged in immersive experiences with ICH, such as paper-cutting and dough modeling, with over 600 participants daily in these activities [1]. - International participants expressed admiration for traditional performances like Sichuan opera, emphasizing the vibrant presentation of Chinese culture [2]. Group 2: Unique Cultural Artifacts - Athletes received bamboo-crafted medal boxes, symbolizing traditional craftsmanship and cultural significance, with intricate designs reflecting the artisans' skills [5]. - A Swedish athlete purchased a folding fan inscribed with "厚德载物," interpreting its symbolism related to Chinese character and spirit [4]. - The bamboo medal box's transformation from hard bamboo to a smooth, delicate artifact illustrates the profound craftsmanship of Chinese artisans [7]. Group 3: Lasting Impressions - The cultural experiences and artifacts collected by athletes serve as tangible reminders of their encounters with Chinese heritage, fostering a deeper understanding of Eastern aesthetics [7]. - The event has allowed Chinese ICH to take root in the hearts of international participants, extending the narrative of Eastern beauty globally [7].
淄博陶瓷产业链上的“国瓷之光”
Qi Lu Wan Bao Wang· 2025-08-08 13:30
"产业链上的山东好品牌" 淄博陶瓷产业链 淄博陶瓷产业链上的"国瓷之光" 75.5 F F 25 /// /11 ll " L - 7 H H H - ● 千峰翠色·上合元首茶咖具 材质采用世界独有目 获得国家发明专利的华青瓷 造型高雅大气,气韵流畅 @ 跃然瓷上的泰山、祥云、海浪、 波纹,展现出一番国泰民安、美 美与共的盛世景象, 完美诠释着 中华青、青世界的大国风范和待 客之道。 ● 荷风茶器 the 品牌速览 华光国瓷始建于1961年, 是国家用 瓷生产企业,中国高端陶瓷市场领 先品牌,也是中国陶瓷行业第一块 驰名商标和中国名牌。从中华人民 共和国成立60周年庆典用瓷、北京 APEC峰会首脑用瓷、上合青岛峰 会元首用瓷, 到国家博物馆、法国 卢浮宫、英国皇室等收藏陶瓷,华 光国瓷向世界展现着中国当代陶瓷 的精湛水准,彰显着山东好品、当 代国窑的魅力。 , ALL ZE 井莲花"、"忍冬纹"、"飞天 彩带"等经典元素,以现代陶瓷 语言诠释古老图腾,唤起全球华 人共同的文化记忆和文化传承。 中央广播电视总台 总台文创 CCTV-1 《花开中国》栏目 四大IP与华光国瓷联袂 重磅打造的特别中秋礼 撷取敦煌艺术 ...
东方美学暑期火“出圈” 红色舞台经典焕新
Yang Shi Xin Wen· 2025-08-03 01:25
Core Viewpoint - The summer of this year has seen a vibrant array of performances across the country, particularly in the red-themed performance market, which has attracted audiences through a combination of historical events and diverse artistic expressions [1] Group 1: Performance Highlights - The Shanghai Ballet's original ballet "Lily" premiered at the National Grand Theatre, showcasing a talented domestic creative team and emphasizing the human spirit during wartime [2] - The musical "Finding Li Ergou," based on the Korean War, began its national tour in cities like Nanjing and Wuhan, focusing on contemporary youth and their emotional connections to historical events [8] - The "Melody in My Heart" concert, part of the 2025 National Art Troupe's performance season, featured classic red songs and innovative adaptations, narrating the century-long journey of the Communist Party of China [9][10] Group 2: Artistic Elements - "Lily" retains the original novel's literary charm while incorporating symphonic music and ethnic elements, creating a rich visual and auditory experience that highlights the value of peace [4] - The concert broke traditional choral boundaries by integrating storytelling and performance, enhancing the overall viewing experience [12] - The original musical "Flying to the Sky" draws inspiration from Dunhuang murals, presenting a narrative that intertwines cultural heritage with modern themes [17] Group 3: Audience Engagement - The summer performances have sparked a cross-city viewing trend among young audiences, particularly those interested in works that blend Eastern aesthetics with historical themes [16] - The national tour of the play "Lychee of Chang'an" emphasizes a fast-paced narrative and modern stage design, appealing to contemporary viewers while retaining traditional aesthetics [21]
特朗普对巴西关税新政引发连锁反应:美国农产品期货市场受冲击
Guan Cha Zhe Wang· 2025-08-01 15:38
Group 1: Agricultural Market Impact - The U.S. government has imposed a 40% tariff on Brazilian products, raising the total tariff to 50%, which includes orange juice [1] - This tariff has led to a significant drop in orange juice futures prices, while coffee futures prices surged by 3.5% [1] - As of July 29, Brazil's coffee exports for the month were only 2.4 million bags, compared to 3.8 million bags in July 2024, indicating a potential supply issue [1] Group 2: Coffee Market Dynamics - The U.S. coffee industry relies heavily on imports, with domestic production accounting for only about 1% of consumption, making Brazilian coffee crucial due to its affordability and variety [2] - The U.S. is the largest market for Brazilian coffee, accounting for approximately 16% of exports, and also the largest market for Brazilian orange juice, making up about 40% of exports [2] - Analysts suggest that there is a possibility of coffee being included in the tariff exemption list, which could alleviate market anxiety [2][3] Group 3: Corporate Governance Changes - Zhang Rui was removed from her position as an independent non-executive director at Nayuki Tea due to concerns about her ability to dedicate sufficient time and attention to her role [3] - Zhang Rui has also been serving as an independent director at Guosen Securities, where she attended all meetings in 2024, but failed to attend two consecutive meetings in 2025 [4] - Guosen Securities announced her removal as an independent director following her absence from meetings, as per company regulations [4] Group 4: New Product Launches - The new tea brand Tianlala has launched a Lychee series of drinks, featuring four new products that combine lychee with various flavors to cater to diverse consumer preferences [5] - The visual design of the Lychee series emphasizes a light pink color scheme, reflecting a blend of traditional Eastern aesthetics and modern beverage trends [5] - The brand aims to create an immersive consumer experience by integrating cultural elements and interactive features into the product launch [5] Group 5: Corporate Leadership Changes - Starbucks Coffee Shanghai has undergone a leadership change, with Tan Buay Beng stepping down as chairman and being succeeded by Shen Can [6] - The company, established in March 2000, is fully owned by Starbucks Coffee Holdings and engages in various business activities including restaurant management [6]
茶咖日报|特朗普对巴西关税新政引发连锁反应:美国农产品期货市场受冲击
Guan Cha Zhe Wang· 2025-08-01 15:22
Group 1: Agricultural Market Impact - The U.S. government has imposed a 40% tariff on Brazilian products, raising the total tariff to 50%, which includes orange juice [1] - This tariff has led to a significant drop in orange juice futures prices and a rise in coffee prices, with orange juice futures hitting a limit down and coffee futures increasing by 3.5% [1] - As of July 29, Brazil's coffee exports for the month were only 2.4 million bags, compared to 3.8 million bags in July 2024, indicating a potential supply issue [1] Group 2: Coffee Market Dynamics - The U.S. coffee industry relies heavily on imports, with domestic production accounting for only about 1% of consumption, making Brazilian coffee crucial due to its affordability and variety [2] - The U.S. is the largest market for Brazilian coffee, accounting for approximately 16% of exports, and also the largest market for Brazilian orange juice, making up about 40% of exports [2] - Analysts suggest that coffee may eventually be included in the tariff exemption list, as there is ongoing lobbying from Brazilian coffee exporters [2][3] Group 3: Corporate Governance Changes - Zhang Rui has been removed from her position as an independent non-executive director of Nayuki Tea due to concerns about her ability to dedicate sufficient time and attention to her role [3] - Zhang Rui has also been dismissed from her role at Guosen Securities after missing multiple board meetings, which is against the company's regulations [4] Group 4: New Product Launches - The new tea brand Tienlala has launched a lychee series of drinks, featuring four new products that combine lychee with various flavors to cater to diverse consumer preferences [5] - The visual design of the lychee series emphasizes a light pink color scheme, reflecting a blend of traditional Eastern aesthetics and modern beverage trends [5] Group 5: Corporate Leadership Changes - Starbucks Coffee Shanghai has undergone a leadership change, with Tan Buay Beng stepping down as chairman and being succeeded by Shen Can [6]