中国商报（记者 马嘉）今年国庆、中秋长假期间，医美消费迎来一波高峰。中国商报记者走访多家医美机构发现，不少消费者利用假期践行"变美"计划， 医美市场呈现供需两旺态势。此外，男性消费者比例上升，选择进行植发、肉毒素注射（去皱、瘦脸）以及皮肤管理的男性明显增多。 "美丽投资"成焦点 男性消费者加速入场 10月2日上午11点，北京合生汇商圈的新氧线下门店内的候诊区已经坐了不少等待咨询和消费的顾客，其中不乏一些从外地来的"求美者"。 "平时工作太忙，恢复期也不方便，国庆长假正好有足够的时间来完成早就想做的项目，还不影响工作。"在候诊区的李薇（化名）告诉记者，她提前两个 月就预约了眼综合和注射微整形，预算在5万元左右。"这对我来说不是冲动消费，而是一项长期投资。" 值得关注的是，男性消费者的比例也在上升。有医美咨询师告诉记者："现在来做项目的男性，心态更加开放，目的性也很强，主要是为了解决脱发、皱纹 等具体问题。"此前就有数据显示，男性医美消费者增速连续多年高于女性。 节前新品集中上线 机构促销活跃市场 国庆、中秋假期前，医美市场已显露活跃态势。多款医美低价新品和促销活动赶在节前上线，覆盖射频、注射、皮肤管理等品类。比 ...

从"物质满足"到"体验享受"，从"盲目跟风"到"个性表达"，悦己消费正在重塑我们的消费观，也给传统 商业逻辑带来新的挑战与机遇。过去，企业通过塑造标准、打造品牌来推动消费。如今，聪明的品牌开 始帮助消费者发现自我、表达自我、实现自我。"鸡排主理人"的小摊之所以能在品牌连锁的包围中生存 并成长，正是因为它提供了标准化产品无法替代的温度感与独特性——他知道常客的口味偏好，记得他 们的生活近况，掌握他们的作息时间规律。这种深度情感连接，是难以复制的核心竞争力。 真诚用心的服务，永远有吸引力。当消费者付出的金钱，没有换来预期的品质提升、愉悦的体验，价值 与价格的落差会转化为商家承诺与消费者实感的温差，最终导致买卖双方的信任脱钩。当太多商家 把"亲""宝"挂在嘴边却缺乏实质关怀，当太多商家"过度包装"失去产品本真，这个用20年时间把小摊做 成城市名片的摊主，却用行动证明了"认真做好每份产品，慢慢攒下顾客群"的朴素道理。 在悦己经济的浪潮中，每位消费者都在寻找自己的"鸡排"——那些让日常生活变得丰富、有趣的东西。 当越来越多的商家开始回应这种真诚的渴望，我们的消费生态与社会文化都将因此变得更加丰富、多元 而富有温度。 近 ...

真诚用心的服务，永远有吸引力。当消费者付出的金钱，没有换来预期的品质提升、愉悦的体验，价值 与价格的落差会转化为商家承诺与消费者实感的温差，最终导致买卖双方的信任脱钩。当太多商家 把"亲""宝"挂在嘴边却缺乏实质关怀，当太多商家"过度包装"失去产品本真，这个用20年时间把小摊做 成城市名片的摊主，却用行动证明了"认真做好每份产品，慢慢攒下顾客群"的朴素道理。 在悦己经济的浪潮中，每位消费者都在寻找自己的"鸡排"——那些让日常生活变得丰富、有趣的东西。 当越来越多的商家开始回应这种真诚的渴望，我们的消费生态与社会文化都将因此变得更加丰富、多元 而富有温度。 编辑部： 近日，在江西景德镇，被网友称为"鸡排主理人"的李俊永，因独特的经营方式，以及能为顾客提供独特 的情绪价值，迅速走红，网友打趣称"6元的鸡排卖出了60元的情绪价值""将6元鸡排讲出了6亿元项目的 气魄"。"真诚用心的服务，永远有吸引力""做好分内事，不要太精打细算了"……"鸡排哥"的朴实话 语，被网友赞为"烟火气里的经营智慧"。 "鸡排主理人"走红，表面上看是严肃的表情、讲究的措辞，带来了莫名的幽默感，以及由此给顾客带来 的情绪满足，契合了顾客期待， ...

经典动漫IP热度不减拉满仪式感 国庆中秋长假消费热潮如期而至，9月27日至10月26日，卡游携手全球知名娱乐公司孩之宝，在北京、上海、武汉三地核心商圈 同步启幕小马宝莉"星愿派对"主题快闪。这场聚焦年轻消费市场的IP盛宴，不仅以超100款全新周边首发引爆假日消费热情，更以 毛绒产品为核心拓展新品矩阵，在假期经济热潮中为年轻群体注入悦己消费新动能，同时折射出IP衍生品行业从功能消费向情感 消费升级的前沿趋势，成为"谷子"经济与假日经济深度融合的典型样本。 作为风靡全球的经典动漫IP，小马宝莉凭借温暖治愈的故事内核、萌趣鲜明的角色形象，打破年龄圈层界限，收获全年龄段粉丝 的情感共鸣，这为其IP衍生品奠定了坚实的"谷子"经济基础。而作为小马宝莉官方卡牌生产商，卡游自与孩之宝达成深度合作以 来，依托成熟的制造工艺体系与精细化IP运营能力，此前推出的小马宝莉集换式卡牌一经面市便迅速引爆圈层消费，成为年轻群 体追捧的"谷子"热门品类，此次快闪更是延续IP热度，进一步挖掘粉丝经济潜力。 毛绒系列堪称此次主题快闪的悦己消费核心载体。走进位于朝阳合生汇的小马宝莉"星愿派对"主题快闪店，卡游精准洞察年轻群 体对情绪价值的追求，精 ...

Investment Rating - The report gives a "Buy" rating for the company, indicating a positive outlook for its future performance [4]. Core Views - The company is positioned as a regional leader in personal care products, with significant growth in e-commerce and expansion into peripheral provinces. It has shown a robust revenue increase, with a projected revenue of 3.25 billion yuan in 2024, reflecting a year-on-year growth of 51.8% [1][4]. - The report highlights the trend of "self-consumption" leading to the premiumization of the female hygiene products industry, with domestic brands expected to gain market share as consumer preferences shift towards quality and brand recognition [2][4]. Summary by Sections 1. National Expansion and Market Position - The company, founded in 2010, specializes in personal hygiene products, primarily sanitary napkins, which accounted for 93.6% of its revenue in 2024. It has established a strong market presence in the Sichuan-Chongqing region and is rapidly expanding into e-commerce and other provinces [1][10]. - The company has a diverse product matrix with well-defined brand positioning, including "Free Point," "Good," and "Danning," targeting different market segments [13][24]. 2. Industry Trends and Growth Drivers - The female hygiene products market in China is projected to reach approximately 1050.5 billion yuan in 2024, with a year-on-year growth of 2.9%. The market has transitioned from volume-driven growth to price-driven growth, with an average price increase of 4.5% for female hygiene products from 2019 to 2024 [2][47]. - Key growth drivers identified include the introduction of high-end products, increasing online sales, regulatory changes, and the rise of domestic brands as they capture market share from established players [2][4]. 3. Financial Projections and Valuation - The company is expected to achieve net profits of 3.6 billion yuan, 4.8 billion yuan, and 6.1 billion yuan from 2025 to 2027, with corresponding price-to-earnings ratios of 31X, 23X, and 18X [4][5]. - The report anticipates a continuous improvement in profitability alongside revenue growth, driven by the expansion of high-margin product lines and effective marketing strategies [4][32]. 4. Marketing and Sales Strategy - The company has adapted its marketing strategy to focus on e-commerce platforms, particularly Douyin, which has seen a significant increase in transaction volume. The e-commerce revenue has grown at a compound annual growth rate (CAGR) of 60.7% from 2016 to 2024 [7][26]. - The company employs a multi-channel marketing approach, leveraging both online and offline strategies to enhance brand visibility and sales performance [7][26]. 5. Product Development and Innovation - The company is committed to rapid product innovation, with a focus on high-end health products that have contributed to an increase in average selling prices and gross margins [7][35]. - The introduction of new product lines, such as the FREEMORE health series, has been instrumental in driving growth and improving profitability [7][35].

智通财经APP获悉，中金发布研报称，2025年国庆中秋假期共计8天，2024年为7天，叠加更加灵活的前 后拼假策略，催生更为活跃的消费窗口。 报告指，《拼假》延长国庆高峰，出游景气度同比提升。据航空产业网预测，2025年国庆期间中国航班 总量达13.9万班次，同比增5.7%，其中国际航班恢复至2019年的94%，日均旅客运输量224.7万人次，同 比增6.4%，其中国内和国际分别同增6.1%/9.2%。据飞猪数据，游客希望利用长假探索更多城市，多目 的地串游趋势崛起，飞机+高铁混合出行方式增长显著，该行预计亦将带动国庆假期延续人均消费金额 提升趋势。 报告指，截至9月22日，美团00后年轻游客预订占比62%，平台预测年轻人偏好的文物游、国门游、民 族妆造体验、演唱会与音乐节等将掀起新潮流，博物馆周边酒店、美食搜索热度同比大幅提升，新疆、 黑龙江等边境旅游地订单量快速提升，国门景区、博物馆等正成为文旅IP，文化消费、体验消费更加受 青睐。 另外，根据文旅部官网，各地将在消费月期间发放超4.8亿元人民币的消费补贴，该行认为将进一步增 强居民消费意愿，带动假日消费扩容提质。 该行重点推荐，悦己消费长期布局，推荐潮玩 ...

该行重点推荐悦己消费长期布局，推荐潮玩赛道及电子烟等板块，如泡泡玛特、布鲁可、思摩尔国际； 布局国货崛起演绎趋势，推荐美妆、个护赛道，如毛戈平、巨子生物、上美股份、上海家化等；关注政 策催化的受益板块，如内需政策支撑叠加旺季催化下的零售板块等。 中金发表报告指，2025年国庆中秋假期共计8天，叠加更加灵活的前后拼假策略，催生更为活跃的消费 窗口。拼假延长国庆高峰，出游景气度按年提升。另外，根据文旅部官网，各地将在消费月期间发放超 4.8亿元的消费补贴，该行认为将进一步增强居民消费意愿，带动假日消费扩容提质。 ...

Core Viewpoint - The article emphasizes that Xiaomi is breaking the traditional barriers of the automotive industry by introducing personalized customization services in the mid-range market, which were previously exclusive to ultra-luxury brands [5][15][54]. Group 1: Market Dynamics - The mainstream automotive market, particularly in the 300,000 to 400,000 yuan price range, is becoming increasingly competitive, leading to a focus on efficiency and standardized offerings [2][3]. - Traditional automotive manufacturers prioritize cost control and rapid delivery, often limiting customization options to a few standard colors and features [4][12]. - The demand for personalized vehicles has been largely unmet in the sub-million yuan market, with customization services typically reserved for high-end brands like Porsche and Ferrari [14][12]. Group 2: Xiaomi's Strategy - Xiaomi aims to not only increase sales but also to drive a transformation in the Chinese automotive market through innovative business models [6][52]. - The company has launched a "Xiaomi Customization Service," offering 26 personalized options, including unique paint colors and interior materials, which were previously unavailable in this price segment [5][25]. - Xiaomi's approach challenges the traditional automotive industry's focus on efficiency, instead prioritizing consumer desires for individuality and aesthetic appeal [40][56]. Group 3: Challenges and Innovations - The development of customized paint colors involves significant costs and complexities, with a single color potentially exceeding 2 million yuan in development expenses [18][19]. - Xiaomi's customization service requires a flexible production model, which poses challenges to traditional assembly line efficiency [26][27]. - The company has successfully introduced new paint options, such as the "Purple Crystal" finish, which involves intricate production processes and extensive manual labor [20][21]. Group 4: Consumer Trends - The article notes a shift in consumer decision-making from practicality to emotional value and personal expression, indicating a growing demand for personalized products [32][33]. - Xiaomi's success in the automotive sector reflects a broader trend where consumers are willing to pay for emotional and aesthetic value, not just functional benefits [53][55]. - The introduction of customization services aligns with the emerging "color economy," where individual expression through color choices is becoming increasingly important in consumer preferences [41][44].

中新网上海9月26日电 (记者郑莹莹)由上海市人民政府、联合国教科文组织共同主办的2025世界设计之 都大会(WDCC2025)于9月25日至9月28日在上海举办。 上海自2010年加入联合国教科文组织"创意城市网络"以来，其"设计之都"建设成效显著，创意设计产业 蓬勃发展，相关产业规模已超1.6万亿元；累计培育21家国家级工业设计中心、200家(上海)市级设计创 新中心。 记者走访今年的大会展区发现，在设计力量的加持下，"悦己消费"越来越受年轻人追捧。 9月25日至9月28日，2025世界设计之都大会(WDCC2025)在上海举办。中新网记者郑莹莹摄 火爆全球的泡泡玛特今年再度参展，以THE MONSTERS"怪味便利店"系列为主题。展区"小而美"，吸 引高人气。 在该展台旁，得物展出与泡泡玛特联名的一款限量收藏款Molly潮玩公仔，也吸引不少参观者打卡。 9月25日至9月28日，2025世界设计之都大会(WDCC2025)在上海举办。中新网记者郑莹莹摄 潮玩已经超越"玩具"的范畴，成为年轻人情绪价值的载体。 一方面，年轻群体越来越愿意为好设计买单，愿意为情绪价值买单。另一方面，好设计带来的社交属 性，也是 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 13.44 [5]. Core Insights - Despite high gold prices suppressing short-term demand for gold consumption, the industry shows structural highlights, with retail sales of gold and silver jewelry growing by 11.7% year-on-year from January to August 2025, benefiting from "self-consumption" and festive catalysts [2][5]. - The company demonstrated resilience in the face of short-term pressures, with a significant drop in revenue of 43.92% year-on-year to 4.597 billion yuan in the first half of 2025, primarily due to a 50.94% decline in income from gold jewelry. However, the company managed to achieve a 11.11% growth in revenue from fashion silver jewelry through product structure optimization [2][3]. - The company is actively transforming its channel structure from "scale expansion" to "quality and efficiency," adding 54 new stores in key business districts and achieving a 6.04% increase in single-store gross profit [3]. Summary by Sections Financial Performance - The company reported a revenue of 4.597 billion yuan in the first half of 2025, down 43.92% year-on-year, with a net profit of 1.313 billion yuan in 2023, expected to decrease to 1.002 billion yuan in 2024 before recovering to 1.106 billion yuan in 2025 [4][9]. - The projected EPS for 2025, 2026, and 2027 is 1.02, 1.18, and 1.29 yuan respectively, with a P/E ratio of 13.1 for 2025 [4][9]. Market Strategy - The company is enhancing its brand matrix strategy, focusing on the main brand "Zhou Dasheng" while launching high-end and culturally rich product lines to capture diverse market segments [2][3]. - The "National Treasure Home" brand upgrade is progressing steadily, with plans to create flagship stores generating over 100 million yuan in revenue [3]. Growth Outlook - Short-term net profit has already seen a rapid growth of 31% in the second quarter, supported by strong sales during key shopping events [3]. - The company is expected to open new growth avenues through its "Zhuanzhuge" series, which has a low investment threshold, and is beginning to explore overseas markets [3].