随着2025年国庆、中秋假期的临近，线下餐饮等消费潜力的激活成为社会关注的焦点。在此背景 下，阿里旗下高德地图于9月10日推出"高德扫街榜"，宣布构建全新线下服务信用体系，并启动"烟火好 店支持计划"，发放超10亿补贴。上线第一天，使用高德扫街榜的用户便超4000万人。中国饭店协会副 会长金勇就餐饮行业趋势及这一举措的影响等话题，分享了相关见解。 互联网深度融入生活推动消费链路重塑，线上下单、线下体验、在线评价成为年轻群体主流消费习 惯。金勇认为，这为餐饮商家带来多重便利：扩大门店触达范围，吸引潜在消费者；通过线上线下联动 推广营销方案，拉动业绩增长；将服务体验线上化传递，增强消费者认可度。但互联网上的传统评价体 系也存在两面性，存在花钱买好评的现象，参与的商家也很苦恼。比如，部分平台出现的虚假评价、捆 绑促销、博取流量等现象，加重了餐饮企业成本负担，在行业利润率偏低的背景下，给商家经营带来困 扰。 针对高德推出的"扫街榜"，金勇认为，榜单维度设计贴近消费需求，涵盖"本地人爱去""回头客推 荐""烟火味小店"等多元分类，且基于用户搜索、导航等真实行为数据生成，经AI计算而成，能反映商 家运营特色，让"隐藏"小 ...

恒生科技指数盘中站上6000点大关，突破前高在即。在南向资金持续不断流入、美国新一轮降息周期有 望启动的背景下，港股9月或迎内外资共振，而外部流动性敏感、此前受压制较多的恒生科技则有望迎 来"补涨"行情。此外，反内卷政策不断推进，叠加阿里巴巴财报超预期、AI大模型快速迭代，恒生科技 有望从"外卖内卷"回归AI叙事，估值重构可期，突破前高或许只是时间问题。没有港股通账户的投资者 或可通过恒生科技指数ETF（513180）一键布局中国AI核心资产。（场外联接A/C：013402/013403）。 9月12日早盘，港股三大指数集体上涨，恒生科技指数一度涨超2.5%，站上6000点大关，突破前高在 即。A股同赛道规模最大的恒生科技指数ETF（513180）跟随指数强势上扬，持仓股中，百度集团、阿 里巴巴、哔哩哔哩、蔚来、小鹏汽车、腾讯控股等涨幅居前，其中百度集团高开高走，涨超10%。 东吴证券指出，市场把就业塌方视为美联储9月被迫降息的硬核信号，美债收益率、美元指数跳水，全 球流动性预期瞬间转松。对恒生科技而言，估值端获得一次性重估红利——美元走弱、中美利差重新收 窄，外资回流港股的概率大增，影响偏正向。该机构认为， ...

Group 1 - The overall market liquidity remains tight, with structural market conditions leading to rotations in new consumption and new manufacturing sectors [1][18] - There are left-side investment opportunities in fields such as robotics, intelligent driving, and internet platforms [1][18] - The basic chemical industry is currently undervalued, presenting medium to long-term investment potential [18] Group 2 - The performance of sectors like consumption and pharmaceuticals is expected to be relatively stable, with short-term elasticity likely to be better [18] - The chemical industry is anticipated to see structural opportunities and valuation recovery in 2025, driven by policy stimulus and improving demand [18] - The supply side of the chemical industry is experiencing a slowdown in capital expenditure and new capacity growth, which will take time to digest [18]

Core Viewpoint - The stock market experienced a collective decline on May 28, with the Shanghai Composite Index closing at 3339.93 points, down 0.02%, and the Shenzhen Component Index at 10003.27 points, down 0.26% [1] Market Performance - The market showed a mixed performance with over 3400 stocks declining, while new consumption stocks surged, particularly in the beverage and IP economy sectors, with several stocks hitting the daily limit [3] - Dairy stocks saw a significant afternoon rally, with companies like Huanlejia and New Dairy both hitting the daily limit [4] - Medical waste treatment stocks remained strong throughout the day, with Yuhua Tian and Boschke both hitting the daily limit [5] - The combustible ice sector performed well, with ShenKai shares hitting the daily limit and others like QianNeng HengXin rising over 8% [6] - The internet e-commerce sector led the decline, with stocks like Jihong and Qingmu Technology dropping over 5% [7] Capital Flow - Main capital saw a net inflow into sectors such as machinery, power equipment, and communications, while there was a net outflow from banking, media, and public utilities [9] - Specific stocks that attracted net inflows included XueRen shares, with an inflow of 506 million, and GongXiao DaJi with 337 million [9] - Conversely, stocks like BYD and China Great Wall faced significant sell-offs, with outflows of 833 million and 751 million respectively [10] Institutional Perspectives - Dongfang Securities noted that liquidity disturbances are expected to continue, with long-term bond yields likely to remain high, indicating a tight overall market liquidity [12] - The firm highlighted that structural market conditions are leading to rotations between new consumption and new manufacturing sectors, with better short-term elasticity in sectors like consumption and pharmaceuticals [12] - Galaxy Securities advised caution in chasing high valuations in the rapidly rotating new consumption sector [13] - Guotai Haitong expressed a mid-term positive outlook on beverage manufacturing but recommended not to chase high prices in the short term [14]

Market Overview - The three major stock indices collectively declined, with the Shanghai Composite Index closing at 3339.93 points, down 0.02%, the Shenzhen Component Index at 10003.27 points, down 0.26%, and the ChiNext Index at 1985.38 points, down 0.31% [1]. Sector Performance - Strong sectors included medical waste treatment (+2.66%), combustible ice (+2.50%), beverage manufacturing (+2.30%), controllable nuclear fusion (+2.02%), and textile and apparel (+1.48%) [4]. - The internet e-commerce sector led the decline, with a drop of -2.01%, followed by medical services at -1.81% [4]. Individual Stock Highlights - In the medical waste treatment sector, notable performers included Yuhua Tian and Boschke, both hitting the 20% daily limit up, while Qiaoyin Co. also reached the limit up [4]. - The combustible ice sector saw ShenKai Co. hitting the limit up, with potential gains for QianNeng HengXin (+8%) and other companies like HaiMo Technology and Sinopec following suit [4]. Fund Flow Analysis - Major funds saw net inflows in sectors such as machinery, power equipment, and communications, while experiencing net outflows in banking, media, and public utilities [5]. - Specific stocks with significant net inflows included XueRen Co. (5.06 billion), GongXiao DaJi (3.37 billion), and GuoFang Group (3.36 billion) [6]. - Conversely, companies like BYD, Great Wall Motors, and Seres faced substantial sell-offs, with net outflows of 8.33 billion, 7.51 billion, and 6.21 billion respectively [7]. Institutional Insights - Dongfang Securities noted that liquidity disturbances are expected to continue, with long-term bond yields likely to remain high, indicating a tight overall market liquidity [8]. - The report emphasized that sectors with better performance visibility, such as consumption and pharmaceuticals, may offer relatively better short-term elasticity [8]. - Galaxy Securities advised caution in chasing high valuations in the fast-rotating new consumption sector [9]. - Guotai Haitong expressed a mid-term positive outlook on beverage manufacturing but recommended against chasing high prices in the short term [10].

2025.05. 28 本文字数：407，阅读时长大约1分钟 截至午间收盘，沪指涨0.07%，深成指跌0.04%，创业板指涨0.02%。 可控核聚变概念继续走强，环保、可燃冰、饮料制造、物流等板块涨幅居前，互联网电商、医疗服务、宠 物经济等板块跌幅居前。 推荐阅读 澳大利亚出现针对中国公民的暴力行为，中方强烈谴责！ | 全A | 涨 1726 | 平 203 | 跌 3480 | A股成 | | --- | --- | --- | --- | --- | | 序号 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | | 1 | 000001 上证指数 | 3342.93 | 2.24 | 0.07% | | 2 | 399001 深证成指 | 10025.31 | | -3.81 -0.04% | | 3 | 899050 北证50 | 1395.69 | | -1.96 -0.14% | | 4 | 881001 万得全A | 5064.71 | -2.73 | -0.05% | | 5 | 000688 科创20 | 973.76 | 0.84 | 0.09% | | 6 | 399006 创业板指 | ...