21世纪经济报道记者 贺泓源 韩寒成为今年电影春节档的最大赢家。 2月24日，据国家电影局数据，2026年春节档票房为57.52亿元，观影人次为1.20亿。其中，韩寒编剧并 执导的《飞驰人生3》以29.27亿元票房位居档期冠军，远远超出第二名《惊蛰无声》的8.68亿元票房成 绩。 也要看到，韩寒还是《飞驰人生3》的主要投资方。他作为大股东的亭东影业，为该片第一出品方。天 眼查显示，亭东影业股东方面，韩寒持股57.26%，博纳影业（001330）持股9.55%，阿里旗下大麦娱乐 持股9.13%，知名出版人路金波个人持股6.59%。 这意味着，韩寒将享有《飞驰人生3》的高额利润分成。 事实上，亭东影业盈利一直不错。博纳影业公告显示，2025年，亭东影业营收1.17亿元，净利润3518.68 万元。2024年，亭东影业营收为8.61亿元，净利润1.49亿元。 这在波动的影视圈，是非常难得的经营成绩。作为对比，2025年，博纳影业估计亏损12.61至14.77亿 元。 更要看到，韩寒的探索对于电影产业发展似乎具有越来越重要的意义，他正打开男性市场。 《飞驰人生》票房为17.28亿元，《飞驰人生2》票房为30.93亿元 ...

Core Insights - Adidas and Nike are reassessing their market strategies, particularly after Nike's CEO change, with expectations for performance improvements [2] - Tmall is positioning itself to create growth opportunities by signing exclusive partnerships with niche brands in the running and outdoor segments [2][3] - The running and outdoor markets are identified as significant growth areas within the sports goods sector, with a notable preference for running among young consumers [2][3][8] Market Trends - Running has become a popular lifestyle choice in China, evolving from a fitness activity to a representation of elite status, while outdoor activities are also gaining mainstream appeal [8] - The outdoor segment, including activities like skiing and cycling, is increasingly favored by young consumers, with skiing being the most popular outdoor activity according to Tmall's research [3][8] Strategic Partnerships - Tmall has signed exclusive agreements with the UK running brand Soar and the Norwegian outdoor brand Norrøna to manage their operations in China [2][3] - Norrøna is recognized for its high-end outdoor products and has a strong brand heritage, which Tmall aims to leverage in the Chinese market [8][9] Retail Strategy - Tmall plans to establish single-brand stores for Norrøna, creating immersive brand experiences for consumers, marking the brand's first store in the Asia-Pacific region [10] - The company is also focusing on online flagship stores and enhancing private domain operations to reach consumers effectively [10] Operational Insights - Tmall's approach to retail is evolving from a channel-centric model to a more integrated platform that combines online and offline experiences [11] - The company emphasizes the importance of understanding and conveying the essence of high-end brands to consumers, adapting to their preferences and behaviors [11][15] Consumer Engagement - Tmall's strategy includes engaging with professional sports communities through events and activities to better connect with niche consumer segments [15] - The company recognizes the need for differentiated value in high-end brands, which requires a unique operational capability to effectively communicate this to consumers [14][15]