《苏超来了》：双传学等著；江苏凤凰科学技术出版 社、江苏人民出版社出版。 9月7日，苏州队与盐城队激战正酣，第八十五分钟，18岁盐城小将李瑞龙一记精彩的"吊门球"，让现场 3万多名观众瞬间沸腾。这记又快又准的吊射，再次刷新人们的"苏超"印象，被央视评为"一周全球十佳 进球之首"。 今年夏天，"苏超"火爆出圈，新闻出版人该如何"接球"？6月底，我们决定推出一本记录"苏超"的书。 像打仗一样，如追梦一般，一天也没耽搁，《苏超来了》说来真的就来了。7月30日，推出样书；8月 初，首印2万册；面世30天，销售4万册。有同行说，这次出书好比中圈拿球就来一记"吊门球"，而且抢 了"首球"。 "苏超"出圈后，"何以'苏超'"成为全网追问。"苏超"火，火就火在它快乐，"比赛第一，友谊第十四""大 哥苏得惨，二哥无所谓，三弟常垫底"，玩梗、斗图、斗歌……不仅球场上足够精彩，球场外更加欢 乐。火就火在它纯粹，没有耀眼球星，没有天价合同，没有人情世故，外卖员的滑铲、教师的远射、电 工的头球，炽热的汗水不为名利，只为让体育运动回归最本真的热爱。火就火在它草根，516名球员中 有大学生、高中生、中学老师，有城市白领、快递小哥、村党支部 ...

Core Viewpoint - Jiangsu Shouxihu Cultural Tourism Co., Ltd. (referred to as "Shouxihu") is seeking to go public in Hong Kong, highlighting its significant growth in tourism revenue, particularly from water-based sightseeing services, which have seen a substantial increase in recent months [2][3]. Revenue Growth - In June 2023, Shouxihu's revenue from water-based sightseeing nearly doubled year-on-year to 14.6 million RMB, attributed to new projects like boat performances launched in May [3][5]. - The company reported a 16.4% year-on-year revenue growth in the first half of 2025, primarily due to the popularity of the new boat performance [6]. Business Model and Revenue Sources - Shouxihu has exclusive operational rights for water-based sightseeing services in the Shugang-Shouxihu Scenic Area until September 2035, with this segment accounting for approximately 85% of total revenue in recent years [5][12]. - The company generates nearly one-third of its revenue from online travel agencies (OTAs) such as Meituan and Ctrip, indicating a reliance on third-party sales channels [9][10]. Market Position and Risks - The company faces significant operational risks, including strong seasonality in its business, heavy reliance on a single revenue stream, and intense competition in the tourism sector [10][13]. - Shouxihu's revenue is highly seasonal, with peak periods typically occurring in spring and major holidays, which may lead to fluctuations in financial performance [10][12]. Future Expansion Plans - Shouxihu plans to expand its service offerings by exploring new water tourism routes and projects in major cities across Jiangsu Province, aiming to diversify its revenue sources and mitigate risks associated with regional economic fluctuations [12][13].

Core Viewpoint - The popularity of the Suzhou Super League (苏超) has significantly increased, attracting large crowds and reviving interest in local football, especially after the exit of Jiangsu Suning from the top-tier league [1][2][8][19]. Group 1: Attendance Records - The recent match between Nanjing and Xuzhou set a new attendance record with 60,817 spectators, surpassing previous records for both the Suzhou Super League and domestic amateur football events [1][5]. - This attendance follows earlier matches that also drew significant crowds, indicating a sustained interest in the league [1][5]. Group 2: Impact on Local Football Culture - The resurgence of the Suzhou Super League is seen as a precious opportunity for Jiangsu football, rekindling the passion of fans who felt disconnected after the dissolution of Jiangsu Suning [2][8]. - Many fans, including long-time supporters, are now more engaged, with increased participation in fan clubs and activities surrounding the league [15][19]. Group 3: Perception of League Quality - While the competitive level of the Suzhou Super League is acknowledged to be lower than that of the China League One, its ability to draw crowds and engage the community is viewed as a significant achievement [2][9][20]. - The league is primarily seen as a cultural and tourism initiative, aimed at popularizing football among the general public rather than solely focusing on competitive excellence [20]. Group 4: Broader Community Engagement - The league's popularity has led to a surge in interest from individuals who previously did not follow football, highlighting its role in fostering a broader community connection to the sport [19]. - The involvement of local fan clubs has increased, with organized activities and support for the league, reflecting a revitalized football culture in Jiangsu [15][19].

Core Viewpoint - The article highlights the significant achievement of "Su Chao" with over 30 billion views on Douyin, indicating its popularity and engagement among users [1]. Group 1: Popularity and Engagement - "Su Chao" has reached over 30 billion views on Douyin, with both the official account and Douyin account receiving over 100,000 views [1]. - Users express a mix of love and humor towards "Su Chao," showcasing its impact on social media interactions [3][5]. Group 2: Community and Fan Interaction - Fans of "Su Chao" are actively engaging on social media, sharing their experiences and reactions, which contributes to the community's vibrancy [8][12]. - The success of "Su Chao" is attributed to the collective efforts of 13 cities, highlighting the collaborative nature of its popularity [12]. Group 3: Cultural Impact - The interactions among fans, including humorous comments and expressions of support, reflect the cultural significance of "Su Chao" in the region [6][11]. - The article emphasizes that the success of "Su Chao" is closely tied to the dedication of its fans and supporters, indicating a strong community bond [13].

Core Viewpoint - The popularity of "Su Super" has significantly increased among the youth, leading to a surge in youth football training registrations and related consumption in Jiangsu province [1][2][3]. Group 1: Youth Football Training - In Jiangsu, there has been a rapid increase in registrations for youth football training courses, particularly with the arrival of summer vacation [2][3]. - A football training course in Nanjing reported a 20% increase in inquiries compared to last year, with a notable interest from children aged 4 to 6 [5]. - Many parents, who previously had little knowledge of football, are now seeking information about football courses for their children [7]. Group 2: Football Merchandise Sales - The official merchandise store for "Su Super" reported sales of approximately 8,000 jerseys in the last ten days, with a 30% increase in sales over the past week [9][10]. - Since the start of "Su Super" on May 10, the search volume for football-related products in Jiangsu has doubled, with Suzhou leading in transaction volume for football equipment [12]. - Specific product sales have seen remarkable increases, such as tactical boards in Suqian, which have tripled in sales, and shin guards in Yangzhou, which have increased by over 200% [12].

Core Viewpoint - The article highlights the dual life of a young football player, Miao Ming, who balances his career in football with his family's long-standing crab farming business, showcasing the intersection of sports and agriculture in his life [12][14][16]. Group 1: Football Career - Miao Ming plays for the Nanjing team in the "Su Super" league, with a significant match attended by over 60,000 fans [2]. - He joined the Jiangsu Shuntian youth team at the age of 11, which provided him an opportunity beyond crab farming [14]. - Other players like Ruan Zhexiang and Li Jiajun are also highlighted, with Ruan serving as a youth coach and Li being a product of the Nanjing football training system [14][15]. Group 2: Crab Farming - Miao Ming's family has been engaged in crab farming for over 30 years, managing nearly 200 acres of crab ponds [13][14]. - Daily routines include early morning work in the crab ponds, where Miao Ming and his father prepare food and monitor water quality [13][14]. - The family's commitment to both football and crab farming illustrates a unique lifestyle that combines sports and agriculture [14]. Group 3: Community and Youth Engagement - Ruan Zhexiang shares his experiences from the "Su Super" league with local school children, enhancing their understanding of football [15]. - Li Jiajun returns to his former school to inspire younger students, reflecting on his journey and the importance of perseverance in sports [15]. - The article emphasizes the role of local athletes in motivating the next generation and fostering a community spirit around football [15][16].

Group 1 - The Chinese national football team suffered a 0-3 defeat against South Korea in the East Asian Cup, highlighting the team's weaknesses despite the South Korean team not being at full strength [1] - The performance of the national team has led to increased criticism and mockery from fans, particularly in light of the popularity of the Suzhou Super League (Su Super) [2][3] - The relationship between the Su Super and the national team is complex, as both are part of the same football ecosystem in China, with the national team's performance reflecting the overall quality of Chinese football [4][5] Group 2 - The poor performance of the national team can be attributed to several factors, including inadequate league organization and insufficient youth training systems [6][8] - Both Su Super and the Chinese Super League (CSL) draw players from similar youth training backgrounds, indicating a shared foundation in player development [7] - The CSL is often criticized as a "pseudo-professional league," lacking true market-driven characteristics, while the Su Super is government-led, suggesting similarities in their operational structures [8][9] Group 3 - The CSL has a deeper marketization and internationalization compared to the Su Super, but both leagues share management styles that prioritize government influence over shareholder interests [9][10] - The Su Super's success in attracting crowds and generating economic activity is not unique, as the CSL also contributes to local economies through fan engagement and tourism [10] - The notion that the Su Super is merely a tool for entertainment overlooks the intrinsic value of football as a cultural and economic driver [11]

Group 1 - The "old-for-new" policy has contributed to a good growth in national consumption in the first five months, but long-term consumption promotion requires more reforms and measures, such as stabilizing the stock and real estate markets, improving income expectations, and optimizing wealth distribution [1][2] - In May, China's total retail sales of consumer goods increased by 6.4% year-on-year, with a month-on-month acceleration of 1.3 percentage points, marking the highest consumption growth rate since 2024 [1] - The "old-for-new" policy is seen as a temporary measure that may lead to a decrease in future demand for durable goods, indicating the need for additional methods to further improve consumption [1] Group 2 - Stabilizing residents' wealth, particularly in the stock and real estate markets, is crucial for boosting consumer confidence, as a significant portion of Chinese residents' wealth is tied to real estate [2] - Improving income distribution is considered the most important means to promote consumption growth, with suggestions to reform the social security system and increase rural pension levels to enhance consumption among low-income groups [2] - The real estate sector is vital to China's domestic demand, with a current annual decline of about 10% and a 22% year-on-year drop in new housing starts [2][3] Group 3 - The real estate market's stability is closely linked to local government finances and has a profound impact on infrastructure and consumer wealth [3] - Current policies like interest rate cuts and the removal of purchase restrictions have been extensively utilized, but the effectiveness of policies aimed at improving real estate companies' cash flow is limited [3] - It is essential to clear real estate market debts, allowing developers to go bankrupt if necessary, while ensuring that debts are repaid and pre-sold properties are delivered, with reasonable compensation for buyers if delivery fails [3]

Core Viewpoint - The competition among the 13 cities in Jiangsu Province has evolved beyond sports, encompassing economic and demographic aspects, leading to a comprehensive evaluation of urban strength and real estate performance [2][23]. Economic Performance - Jiangsu Province is home to the most cities with a GDP exceeding 1 trillion yuan, with a total GDP of 13.70 trillion yuan in 2024, ranking second nationally [3]. - Suzhou leads the province with a GDP of 2.67 trillion yuan, followed by Nanjing at 1.85 trillion yuan, indicating a significant economic gap between the two cities [3][7]. - The top five cities in Jiangsu account for over 60% of the province's total economic output [3]. Real Estate Market - In the first five months of 2024, Suzhou's new housing sales volume decreased by 2%, while Nanjing's increased by 8%, indicating a divergence in market recovery [13]. - Salt City recorded the highest year-on-year growth in new housing sales at 30%, while Suzhou's total sales for the first half of the year reached 171.09 million square meters, a slight increase of 0.9% year-on-year [14][15]. - The average new housing price in Nanjing reached 27,329 yuan per square meter, the highest in the province, while cities like Huai'an and Xuzhou had prices below 10,000 yuan per square meter [17][20]. Population Dynamics - Suzhou has the largest permanent resident population in Jiangsu at 12.987 million, surpassing Nanjing's 9.577 million [9][11]. - Nanjing experienced the highest population growth in the province over the past five years, with an increase of 262,300 residents [10]. - The population in several northern Jiangsu cities, including Xuzhou, has been declining, reflecting a trend of out-migration [10][11]. Competitive Landscape - The competition among Jiangsu cities is intensifying, with Suzhou maintaining an advantage in population and GDP per capita, while Nanjing is strengthening its position as the provincial capital through population growth [23]. - Salt City and Nantong have emerged as "dark horses" in terms of new housing sales growth and price increases, respectively [23].

Investment Rating - The report maintains an "Outperform" rating for the industry [7] Core Insights - The report emphasizes the upcoming summer peak season as a catalyst for the tourism and cultural sectors, highlighting the integration of cultural tourism with IP-driven new consumption logic [2][3] - It suggests focusing on the IP + scenic area concept, particularly in regions like Jiangsu, and recommends companies such as Emei Mountain A, Changbai Mountain, Xiangyuan Cultural Tourism, and Haichang Ocean Park [3][21] - The report notes the stabilization of second-hand prices in the trendy toy sector, driven by the summer season, while also addressing regulatory risks and price fluctuations in the second-hand market [3][22] - In the gold and jewelry sector, the report highlights the potential for high growth in terminal store efficiency and expansion opportunities for brands targeting high-end and young consumers [4][131] - The beauty and personal care sector is identified as having structural opportunities, with a focus on product innovation and long-term growth potential [5][101] Summary by Sections 1. Duty-Free and Scenic Areas - The report tracks the performance of duty-free operators and suggests focusing on city duty-free store openings to capture inbound tourist spending [14] - It highlights the summer tourism market's preparation, with a predicted peak in hotel guest flow in early August [15][21] 2. Trendy Toys - The report notes a significant year-on-year increase in online sales for the trendy toy sector, with a total of approximately 2,754 million yuan in sales from January to May 2025, reflecting a 61% growth [23] - It emphasizes the strong cultural presence of LABUBU, surpassing the popularity of Nintendo Switch2 and LOL in recent trends [3][27] 3. Gold and Jewelry - The report indicates that gold prices remain high, with retail sales in the gold and jewelry sector reaching 30 billion yuan in May 2025, a year-on-year increase of 21.8% [128][131] - It recommends brands like Chaohongji, Laisentongling, and Laopu Gold for their growth potential in high-end markets [131] 4. Beauty and Personal Care - The report identifies significant growth opportunities in the beauty sector driven by product innovation and changing consumer habits, recommending companies like Mao Ge Ping and Shangmei [5][101] - It highlights the successful listing of Ying Tong Holdings as a leading player in the fragrance distribution and brand management sector [68] 5. Medical Aesthetics - The report suggests that the medical aesthetics industry is poised for market share gains due to refined operations and the upcoming release of new products in Q3 [5][61] - It recommends focusing on companies like Jinbo Bio and Sihuan Pharmaceutical for their innovative product pipelines [5][66] 6. Employment and Human Resources - The report notes a stable employment situation with a slight decrease in urban unemployment rates, suggesting a focus on flexible employment leaders [102][105] 7. Sports and Events - The report highlights the ongoing development of outdoor sports and suggests monitoring the "Su Chao" theme for investment opportunities in related companies [111]