"殡葬第一股"福寿园上半年亏损超2亿。 来源｜刺猬公社 ID｜ciweigongshe 作者｜白棉 编辑｜园长 在中国，平均每天有超过2.8万人离世，这使得殡葬业被长期视为市场中最能抵御周期的"永恒赛道"。毕竟无论经济如何波动，人生的终点不会改变。随 着《入殓师》《人生大事》等电影热映，"00后入殓师"等话题频频登上社交媒体热搜，殡葬这件事逐渐被大众关注，不再是忌惮提及、闻之色变的事情。 但是，如今殡葬业的日子也不好过了。 8月29日，"殡葬第一股"福寿园发布2025年中期报告，确认了此前的亏损预警，上半年净亏损高达2.6亿元。这并非个例，包括福寿园在内的多个上市殡葬 企业营收集体下滑。 ◎ 图源福寿园中期业绩公告 在一个"需求"只增不减的行业里，这门看似最稳固的生意究竟发生了什么？ "殡葬第一股"陷入亏损 相比衣食住行，生老病死是一个更大、更稳定的"刚需"。前瞻产业研究院的报告显示，2015年中国的殡葬服务市场规模已达1695亿元，预计在2026年会攀 升至4114亿元。 殡葬行业的五个上市民营公司里，福寿园是其中的龙头企业，市值占比最大。 2013年，福寿园在港交所挂牌，一举成为"内地殡葬第一股"，也曾被 ...

Core Viewpoint - The funeral industry in China, traditionally seen as a stable market, is facing significant challenges as consumer spending on high-end burial services declines, leading to substantial losses for major companies like Fushouyuan [3][12][20]. Group 1: Industry Overview - The average daily death toll in China exceeds 28,000, making the funeral industry a "recession-proof" sector [1]. - The funeral service market in China was valued at 169.5 billion yuan in 2015 and is projected to reach 411.4 billion yuan by 2026 [5]. - Fushouyuan, the leading company in the industry, has seen a collective revenue decline among several listed funeral service companies [3][19]. Group 2: Company Performance - Fushouyuan reported a net loss of 260 million yuan for the first half of 2025, confirming previous loss warnings [3][12]. - The company's total revenue for the first half of 2025 was approximately 611 million yuan, a 44.5% decrease from the previous year [12]. - Sales of operational burial plots decreased by 6.7% to 6,253 units compared to the same period last year, with average sales price dropping by 57,000 yuan per unit [14][17]. Group 3: Market Dynamics - The decline in consumer spending on high-end burial services is attributed to changing consumer behavior and economic conditions, with customers becoming more cautious in their spending [20]. - The shift in consumer preferences is leading to a rise in demand for more cost-effective and eco-friendly burial options, such as sea burials and tree burials [24][28]. - Regulatory changes are also impacting the industry, with the government promoting "public welfare funerals" and tightening regulations on pricing and service standards [28][29]. Group 4: Future Trends - The funeral industry is transitioning from a high-growth "real estate-like" model to a service-oriented model focused on humanistic care [33]. - Companies are exploring digital solutions and human-centered services to adapt to changing market demands, such as online memorials and life education services [30][31]. - The industry's future may hinge on balancing humanistic values with commercial profitability, as traditional revenue models are being challenged [33][34].

Core Viewpoint - The funeral industry in China, traditionally seen as a stable market, is facing significant challenges as consumer spending on high-end burial services declines, leading to substantial losses for leading companies like Fushouyuan [2][10][12]. Group 1: Industry Overview - The average daily death toll in China exceeds 28,000, making the funeral industry a "recession-proof" sector [1]. - The funeral service market in China was valued at 169.5 billion yuan in 2015 and is projected to reach 411.4 billion yuan by 2026 [4]. - Fushouyuan, the leading company in the sector, was listed in Hong Kong in 2013 and is known for its high-end burial services [5]. Group 2: Financial Performance - Fushouyuan reported a net loss of 260 million yuan for the first half of 2025, confirming previous loss warnings [2]. - The company's total revenue for the first half of 2025 was approximately 611 million yuan, a 44.5% decrease from the previous year [10]. - Sales of operational burial plots decreased by 6.7% year-on-year, with the average sales price dropping by 57,000 yuan per plot [10][12]. Group 3: Market Dynamics - The decline in revenue is attributed to changing consumer behavior, with customers becoming more cautious in their spending on funeral services [13]. - The shift in consumer preferences is evident as more individuals opt for eco-friendly burial methods, such as sea burials and tree burials, which are gaining popularity [19]. - The industry is experiencing a transformation as traditional high-margin business models based on land scarcity are being challenged by economic downturns and changing consumer attitudes towards death and funerals [20][21]. Group 4: Strategic Responses - Companies are adjusting their product offerings to include mid-range services to cater to changing consumer demands [13]. - Fushouyuan is exploring digital services and human-centered care, such as life memorial spaces and emotional healing services, to enhance value [23][25]. - The transition from asset-based sales to service-oriented models poses challenges, as companies must balance emotional investment with profitability [25][26].

Group 1 - The core idea of the articles emphasizes the proactive measures taken by the Capital Airport Security Company to ensure passenger safety and smooth travel during the peak summer travel season [1][2][3] - The company has enhanced security checks and organized targeted training for security personnel to improve the identification of prohibited items, particularly focusing on common summer items like sunscreen sprays and lithium battery devices [1] - A "people and luggage together" inspection policy has been strictly implemented to manage passenger flow efficiently, ensuring a coordinated and effective security process [1] Group 2 - The company has established a comprehensive service system to cater to the needs of different passenger groups, including special channels for elderly travelers, pregnant women, unaccompanied children, and individuals with mobility challenges [2] - Initiatives such as the "Orange Vest" volunteer team provide warm guidance and humanistic care, while special measures for unaccompanied children ensure a safe and reassuring experience for parents [2] - The company is committed to enhancing service quality through video training for frontline staff, aiming to elevate service standards from merely meeting requirements to providing exceptional experiences for travelers [2] Group 3 - To maintain employee well-being, the company has initiated a "Summer Cooling" program, providing heat-relief supplies and improving rest environments for staff [3] - Mental health support is offered through counseling services and online platforms to alleviate work-related stress among employees [3] - The company encourages teamwork and motivation among employees by involving party members and team leaders in practical roles at busy passenger areas, enhancing both service and employee engagement [3]