| 索引号 | 11330324002534006L/2025-1010445269 | 主题分类 | 质量监督 | | --- | --- | --- | --- | | 组配分类 | 产品质量 | 发布机构 | 县市场监督管理局 | | 成文日期 | 2025-12-16 | 公开方式 | 主动公开 | | | | 中国质量新闻网讯 据浙江省永嘉县人民政府网站消息，2025年永嘉县市场监管局组织开展了流通领域儿童及学生用品质量抽查检验工作，现将结果信息公 布如下： | 序 | | | 标称 | | | 生产日期/ | | 不合格 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 号 | 样品名称 | 被抽查检验经营者 | 商标 | 标称生产者 | 规格/型号 | 批号 | 综合判定 | 项目 | | 1 | 蜡笔、油画棒 | 永嘉县城关百草园求知书店 | / | 温州市爱好笔业有限公司 | / | | 2024/10/28 所检项目符合本次 | / | | | | | | | | | 监督抽查要求 | | | 2 | 铅笔（马可Raff ...

"2026年元旦期间，北京稻香村举办了百枚糕点章活动，消费者可前往12家门店收集特色糕点戳。该活 动一经推出，便吸引了不少年轻人参与，并且好评如潮。"北京稻香村副总经理石艳告诉记者。 事实上，北京稻香村的"出圈"并非首次。从北京稻香村零号寻宝馆推出的"寻宝系列"糕点，到北京稻香 村零号店引发排队热潮的"枣花酥抱枕"文创，这家传统中式糕点的年轻化步伐从未停止。 （来源：经济参考报） 在北京工美大厦"予寻京喜"艺术非遗"中国礼物"旗舰店，京味儿盖碗咖啡成为年轻消费者打卡标配；大 白兔奶糖跨界联名游戏《明日方舟》，让经典糖纸成为热抢"周边"；吴裕泰的茶味冰淇淋独树一帜，慕 名前来的消费者至今仍络绎不绝……如今，越来越多承载着岁月记忆的中华老字号，通过跨界"联姻"、 文化赋能实现华丽转身，在消费市场掀起强劲国货热潮。 强势"破圈" 传统符号焕发潮流活力 新春佳节将至，街铺纷纷挂起红火装饰、创新商品琳琅满目，各地商圈都渐渐展现出浓浓"年味儿"。记 者采访发现，在消费者的年货清单里，各类老字号产品成为"当红"选择。 "没想到老字号也能这么潮，不仅糕点越来越创新，活动也特别丰富。"95后消费者王女士告诉记者，自 己一直是北 ...

日前，河南涤除玄览商贸有限公司按照《消费品召回管理暂行规定》的要求，主动向河南省市场监督管 理局、郑州市市场监督管理局报告了召回计划，将自即日起，召回2025年7月28日至2025年10月23日期 间制造的部分承耀牌16k上下翻语文横线本（型号/规格：182*255mm），涉及数量为2500本。 本次召回范围内的16K上下翻语文横线本，由于D65荧光亮度项目不符合GB 40070-2021《儿童青少年学 习用品近视防控卫生要求》，长期使用可能会对学生用眼健康产生不利影响，造成学生视觉疲劳，视网 膜损伤或诱发视力下降，存在安全隐患。 河南涤除玄览商贸有限公司将免费为消费者提供退货、换货等服务，以消除安全隐患。 用户可通过客户服务热线15737127994进一步了解具体情况。此外，用户也可登录河南省缺陷产品召回 中心网站，关注"河南缺陷产品召回"微信公众号（henandpac），了解更多信息，反映缺陷线索。 （转自河南省缺陷产品召回中心网站） 此外，用户可登录市场监管总局召回中心网站（www.samrdprc.org.cn），关注微信公众号 （SAMRDPRC），了解更多信息，反映缺陷线索。 ...

Core Viewpoint - Ping An Securities research report indicates that Morning Glory Co., Ltd. is a comprehensive stationery supplier and office service provider offering learning and working scene solutions. The company’s traditional core business includes writing tools, student stationery, and office stationery, while new businesses encompass the ToB retail e-commerce platform KeliPu and retail store operations (Jiumu Miscellaneous Society, Morning Glory Life Museum) [1] Group 1: Business Overview - The traditional core business of the company includes writing tools, student stationery, and office stationery [1] - New business initiatives include the ToB retail e-commerce platform KeliPu and retail store operations such as Jiumu Miscellaneous Society and Morning Glory Life Museum [1] Group 2: Future Growth Potential - The report anticipates that IP (Intellectual Property) and overseas expansion will become new growth points for the company. IP includes both traditional stationery modifications and the development of IP derivative products, while overseas expansion is expected to further open up growth space [1] Group 3: Valuation and Comparables - Comparable companies in the stationery industry include Guangbo Co., Ltd. and Qixin Group. As of January 7, the average PE ratio forecast for comparable companies for 2026 is 25X [1] - Considering the significant potential for IP modifications, the company is viewed as having attractive long-term valuation prospects, with a recommended 16X valuation for 2026 [1] - The report initiates coverage with a "Buy" rating [1]

Investment Rating - The report gives a "Buy" rating for the company, marking its first coverage [1][7]. Core Views - The company is positioned as a comprehensive stationery supplier and office service provider, with traditional core businesses including writing tools, student stationery, and office supplies. New businesses include the ToB retail e-commerce platform and retail stores [6][10]. - The company is expected to leverage IP and international expansion as new growth drivers, enhancing product pricing and market reach [6][10]. Summary by Sections 1. Company Overview - The company has a stable traditional core business while accelerating exploration of new business opportunities [10]. - Revenue and profit have shown steady growth, with a projected revenue of 24.2 billion yuan in 2024, reflecting a CAGR of 23% from 2014 to 2024 [14][16]. 2. Core Business - The company focuses on enhancing product value through IP, leading to continuous price increases. The sales volume of traditional core products has faced pressure, but the average price has increased due to product structure optimization and IP collaboration [26][30]. - The company has established a unique "Morning Light Partner Pyramid" marketing model, enhancing its competitive edge through extensive retail networks [32]. 3. Office Direct Sales and Retail Stores - The office direct sales segment, represented by the company’s ToB platform, has shown steady revenue growth, achieving 13.8 billion yuan in 2024, with a CAGR of 30% from 2019 to 2024 [39][45]. - The retail store segment, including brands like "Jiumu Zawushang" and "Morning Light Life Museum," has expanded significantly, with 741 stores by 2024, reflecting a 20% year-on-year increase [47][51]. 4. Profit Forecast and Valuation - The company is expected to achieve revenues of 25.2 billion yuan in 2025, with a growth rate of 4% year-on-year, and 30.4 billion yuan by 2027, maintaining a similar growth trajectory [58]. - The report anticipates improvements in gross margins due to IP enhancements, projecting a gross margin of 18.5% in 2025 [59].

Group 1: Industry Overview - The light industry and beauty sector is expected to stabilize and improve due to the dual drivers of domestic demand policies and steady export growth [3] - The "14th Five-Year Plan" marks a year of enhanced domestic demand policies, coupled with consumers' increasing pursuit of high-quality living, creating significant growth opportunities for the industry [3] - The penetration rate of cross-border e-commerce has ample room for improvement, and the recovery of international relations and demand from emerging markets will further drive market expansion [3] Group 2: Beauty Sector - The cosmetics market is projected to grow steadily, with the skincare segment being the largest, reaching a market size of 4,619 billion yuan in 2024, and expected to grow at a CAGR of 8.6% from 2024 to 2029 [19] - The high-end cosmetics market is rapidly expanding, with the market size for high-end skincare products increasing from 749 billion yuan in 2019 to 1,144 billion yuan in 2024, reflecting a CAGR of 8.84% [19] - Key companies in the beauty sector include: - **Mao Geping**: Revenue reached 25.88 billion yuan in H1 2025, with a growth rate of 31.28% [23] - **Lin Qingxuan**: Revenue grew to 10.52 billion yuan in H1 2025, marking a 98.28% increase [27] - **Marubi**: Revenue is expected to reach 29.70 billion yuan in 2024, recovering from previous declines [32] Group 3: Medical Aesthetics - The medical aesthetics sector is facing short-term pressure due to cautious consumer spending, but the long-term growth potential remains strong, with a projected CAGR of 10%-15% from 2024 to 2027 [36] - The market penetration rate for medical aesthetics in China is currently at 4-5%, indicating a growth potential of 2-5 times compared to countries like the US and South Korea [36] - Key companies in the medical aesthetics sector include: - **Jinbo Biological**: Achieved revenue of 12.96 billion yuan in Q1-Q3 2025, with a year-on-year growth of 31.10% [45] Group 4: Daily Chemicals - The daily chemical industry is benefiting from domestic demand policies, with local brands poised to capture market share [49] - Companies such as **Dengkang Oral Care** and **Runben** are highlighted for their strong market positions and growth potential [51][55] - **Shanghai Jahwa** has shown significant growth, with revenue reaching 49.61 billion yuan in Q1-Q3 2025, reflecting a 10.83% increase [59] Group 5: Home Furnishing - The home furnishing sector is under pressure due to weak real estate sales, with a 15% decline in residential investment in 2025 [65] - National subsidies for home appliances and furnishings have provided some support, but the long-term effects are limited [65] - Leading companies such as **Oppein Home** and **Kuka Home** are noted for their strong channel capabilities and multi-category layouts [65]

配合此次战略合作，晨光旗下独立品牌"九木杂物社"位于环球港的上海首店也以全新形象焕新升级。新店以"杂物魔方宇宙"为灵感，为消费者打造了一个 可沉浸、可探索的潮流美学据点。更吸引眼球的是，店内集结了大量首发和限量产品，如全球限量3000体的初音未来吊卡，以及EVA、名侦探柯南、哈利 波特等热门IP的潮玩新品，迅速成为年轻人的"剁手"圣地。与此同时，在商场中庭，九木杂物社还以"未来雪屋"为主题打造了潮玩嘉年华快闪。 此次战略合作，正是基于双方对Z世代消费趋势的共同洞察。晨光文具总裁陈湖雄在发布仪式上表示，希望通过合作，不仅带来优质产品，更能共同打造 属于年轻人的潮流文化体验。月星集团董事局主席丁佐宏也认为，与晨光的携手是"美好生活的新开始"，旨在让每一位顾客都能感受到"触手可及的文创 生活"。 作为本次潮玩节的重磅环节，晨光携手曾服务于Hermès、Diptyque等国际顶尖品牌的艺术家Florence Bamberger，重磅推出了晨光奢侈品设计师联名款·H系 列。在"光影随行"主题时尚走秀中，小童模们手持或背着融入宇宙星辰设计元素的书包、中性笔等文具，将轻奢美学与日常学习用品巧妙结合，震撼了全 场。 东方网记 ...

近日，某五金店老板因连续两年零申报被稽查，补税罚款超20万的消息冲上同城热搜。不少实体店主疑惑：免税额度内零申报也违规？金税四期下哪些操作 会触发预警？今天我们就用三个真实案例，拆解实体店零申报的高风险操作。 红线一：有收入却零申报=主动递罚单 2023年浙江某服装店被罚案例极具代表性。该店季度申报表全部填零，但税务系统比对发现其微信商户月均流水超8万元。店主辩解"客户都不要发票"，但 根据《税收征管法》第六十四条，只要发生应税行为就必须申报，不开票收入应填写在"未达起征点销售额"栏。 金税四期的可怕之处在于，它能通过五个维度交叉验证： 1. 第三方支付数据（单笔超5万元自动推送） 2. 对公账户资金流向（频繁转入个人账户会预警） 3. 行业毛利率偏差（如餐饮店申报收入低于同业50%） 4. 成本费用倒推（房租+水电+人工>申报收入即异常） 5. 上下游企业数据（进货发票金额与销售额严重不匹配） 红线二：超6个月零申报=自认非正常户 北京某文具店曾踩中这个隐形雷区。该店因装修停业5个月持续零申报，第6个月突然被锁定开票功能。税务机关出示的数据显示： 合规做法是：预计停业超3个月应立即办理停业登记，最长可申请6 ...

"谁懂？真的巨无敌好写，毕业也不影响我买。" 在小红书、微博等社交媒体平台，一款使用体验良好的中性笔被诸多使用者频频推荐。值得注意的是， 这些满是溢美之词的评价指向的产品，并非来自消费者所熟知的任何一个传统文具品牌——卡游，作为 中国头部卡牌厂商，意外凭借旗下中性笔产品过硬的品质，收获了诸多文具消费者的一致好评，更有用 户开玩笑般直言："卡游，你终于知道你最能打的内容是什么了。" 笔，是大众日常工作生活常用之物，但也正是在这样一支文具中，蕴藏着中国市场消费升级的契机。 卡游的笔具产品正是这种产业趋势的直观体现——良好的使用评价与快速提升的市场份额背后，是与其 卡牌主业相似的商业逻辑：为兼具颜值和实用性的实体产品赋予文化内涵，满足消费者使用价值、情感 价值的双向需求。 Z世代消费密码： 颜值 + 功能 + 情感价值 情绪价值，是被视为互联网世代的"Z世代"群体鲜明的喜好标签。 美团研究院在《"情价比"需求激发青年人群消费新潜力》一文中指出，当前青年人群消费需求偏好 由"性价比"转为"情价比"——相对于消费的"实用性"，更注重能否从消费中获得精神上的愉悦，即希望 通过消费获得新奇感、认同感、释压感、收藏欲、个性化 ...

"谁懂？真的巨无敌好写，毕业也不影响我买。" "真的超稳定超好写，写字一点都不晃动，对于写字丑的我蛮友好。" "没想到这么好用！我以后都拿来画涂鸦！" 在小红书、微博等社交媒体平台，一款使用体验良好的中性笔被诸多使用者频频推荐。 值得注意的是，这些满是溢美之词的评价指向的产品，并非来自消费者所熟知的任何一 个传统文具品牌——卡游，作为中国头部卡牌厂商，意外凭借旗下中性笔产品过硬的品 质，收获了诸多文具消费者的一致好评，更有用户开玩笑般直言："卡游，你终于知道你 最能打的内容是什么了。" 笔，是大众日常工作生活常用之物，但也正是在这样一支文具中，蕴藏着中国市场消费 升级的契机。 以卡游当前较为成熟的IP卡牌业务为例，IP联动本身是玩具产品的固有套路，但卡游的 商业秘诀在于产品层面对IP的深度开发。 除了联动奥特曼、斗罗大陆、小马宝莉等知名IP，卡游尤其注重卡面美观与产品组合， 为每套IP卡牌设计了对战、收集、动态组合等多元玩法，赋予了产品美观与脑力竞技等 多重属性。 购买、收集卡游卡牌，已经成为IP受众的身份象征，让消费者获得审美、娱乐与文化共 鸣的多元情感价值。 正 是 通 过 大 规 模 获 取 成 熟 I ...