蔚来涨5.86%，亚朵集团涨5.19%，华住酒店集团涨5.11%，百胜中国涨4.86%，陆金所控股涨4.58%。 ...

2月5日，A股和港股行情有所分化。港股主要指数午后拉升，收盘逆势飘红。港股消费板块表现较为亮 眼，多只相关ETF涨幅居市场前列。 值得注意的是，在港股市场近日的震荡调整中，恒生科技指数大幅下挫。与大盘走势不尽如人意形成对 比的是，港股中的消费和红利板块展现出较强韧性，多只相关基金净值表现随之水涨船高。展望后市， 多家公募机构认为，港股仍处于全球估值洼地，短期扰动或不改中长期配置性价比，看好结构性投资机 会。 ● 本报记者 张韵 港股市场获关注 2月5日，港股主要指数在早盘下挫后震荡反弹，最终收红。恒生指数收盘报26885.24点，微涨0.14%； 恒生科技指数收盘报5406.13点，上涨0.74%。 回顾近期行情，港股市场整体处于震荡调整之中。尤其是2月2日，港股主要指数跳空低开，并大幅下 跌，引发较多关注。恒生科技指数当日跌幅达3.36%，随后连续下跌，更是在2月5日早盘触及阶段新 低，点位一度回撤至2025年7月水平。 业内人士分析，此轮调整的核心原因，源于市场对美联储政策转向的担忧。美联储主席新提名人选主张 的"降息+缩表"政策组合引发全球流动性预期扰动。港股作为离岸市场，容易成为资金波动的敏感地 带。 ...

2月5日，A股和港股行情有所分化。港股主要指数午后拉升，收盘逆势飘红。港股消费板块表现较为亮 眼，多只相关ETF涨幅居市场前列。 值得注意的是，在港股市场近日的震荡调整中，恒生科技指数大幅下挫。与大盘走势不尽如人意形成对 比的是，港股中的消费和红利板块展现出较强韧性，多只相关基金净值表现随之水涨船高。展望后市， 多家公募机构认为，港股仍处于全球估值洼地，短期扰动或不改中长期配置性价比，看好结构性投资机 会。 ● 本报记者张韵 港股市场获关注 2月5日，港股主要指数在早盘下挫后震荡反弹，最终收红。恒生指数收盘报26885.24点，微涨0.14%； 恒生科技指数收盘报5406.13点，上涨0.74%。 回顾近期行情，港股市场整体处于震荡调整之中。尤其是2月2日，港股主要指数跳空低开，并大幅下 跌，引发较多关注。恒生科技指数当日跌幅达3.36%，随后连续下跌，更是在2月5日早盘触及阶段新 低，点位一度回撤至2025年7月水平。 业内人士分析，此轮调整的核心原因，源于市场对美联储政策转向的担忧。美联储主席新提名人选主张 的"降息+缩表"政策组合引发全球流动性预期扰动。港股作为离岸市场，容易成为资金波动的敏感地 带。叠 ...

和平时在家做菜不同，转行做私厨后，魏梨要迅速提高自己应对不同需求、稳定出品的能力。"不同客 户口味不一样，如果客户点了我不会做的菜，我会提前一天买好食材自己在家做一遍，确保第二天现做 不会出问题。"她说。 经常在外用餐的食客甘凡对现炒菜有着强烈的执着："现炒菜端上来会有'锅气'，这是很多预制菜替代 不了的味道。" （来源：工人日报） 阅读提示 在现炒菜愈发受欢迎的当下，厨师行业却仍存在职业发展模糊、劳动保障不稳定、职业教育与实际脱节 等诸多问题，制约着行业发展与人才留存。受访专家与专业人士建议，从规范行业发展、强化权益保 障、优化人才培养等方面入手破解厨师行业困境。 临近年关，河南某四星级酒店的厨师长王爽正为即将到来的"新年小高峰"做准备。"我们需要提前设计 菜单、统计食材需求并协调采购部门提前采购，把前期的准备工作做好，忙起来才不至于太慌乱。"王 爽说。 记者采访发现，随着预制菜越来越多地进入人们的生活，人们对于厨师现炒的需求却越来越旺盛。对 此，厨师们如何应对？他们又面临哪些困境？记者对此进行了采访。 从"传统手艺人"到"专业岗位人才" "我的收费是两个菜68元、4个菜118元，不含食材。"重庆人魏梨向记 ...

中国商业经济学会副会长宋向清在接受《证券日报》记者采访时表示，新春是消费市场的重要窗口期，各地发力票根联 动，核心是借助交通、演出、赛事、景区等消费精准导流，打破商旅文体等行业壁垒，将单一消费行为转化为"吃住行游购 娱"的链式消费，让消费"流量"转化为发展"留量"。 中国数实融合50人论坛智库专家洪勇对《证券日报》记者表示，票根联动本质上是一种"低成本、高黏性"的消费撬动机 制。春节期间人流、客流高度集中，把交通票、演出票、赛事票、景区票等"既有出行行为"转化为可继续使用的消费凭证，能 够把一次性出行延伸为多场景、多轮次的消费行为，可有效拉长消费链条、提升客单价和停留时间。 "从地方治理视角看，这种做法不依赖大规模财政补贴，而是通过规则设计撬动商家参与、平台协同和多场景整合，既能 激活服务消费，又能带动文旅、商贸、餐饮、住宿等行业形成联动，是当前促消费、扩内需中性价比很高的一种'轻政策工 具'。"洪勇称。 本报记者 刘萌 新春佳节临近，全国多地纷纷解锁票根联动新玩法，将交通、演出、赛事、景区等各类票根转化为消费福利凭证，串联 起"吃住行游购娱"全链条，实现"一次消费，多重福利"的体验，让群众在新春出行游玩期间 ...

消费，关乎城市的"底气"，更关乎千家万户的"幸福感"。2026年，崇川区将全维度深耕"燃情四季·乐享 崇川"主品牌，构建贯穿全年、覆盖全域的促消费体系。重点做深"新春、仲夏、金秋、暖冬"四大购物 季，确保"季季有主题、月月有热点"。同时，我们将深度挖掘崇川"灵山秀水"的文化底蕴，将传统文化 注入现代消费，重点打造"濠河夜画"光影秀、非遗主题市集等沉浸式项目，让崇川的消费更有"文化 味"和"烟火气"。 作为全年促消费"重头戏"，丙午马年春节期间，崇川以"乐购新年""乐游崇川·福气满满"为双主题，推出 六大类数十场特色活动。餐饮领域，30余家知名企业推出多档位年夜饭套餐与美食礼盒，联动支付平台 发放专属消费红包；年货供给方面，环西文化广场"骐骥启新岁·乐购暖通城"年货大集、唐闸北市景区 新春市集同步开市，本地老字号与农特优产品通过电商专区、主题直播实现"一站式采购"。四大商圈同 步上演互动盛宴，八佰伴"天马巡春"、圆融广场"跃马繁花"首展营造浓厚年味，狼山新春灯会、南通博 物苑"百年如意"故宫典藏展等文旅活动，让市民游客在品年味之余感受文化魅力。政策红利方面，汽 车、家电"以旧换新"三重补贴（国家补贴+区级补给+ ...

Core Viewpoint - Yum China is experiencing high-quality growth in the restaurant industry, with a projected total revenue increase of 4% to $11.8 billion in 2025 and an operating profit of $1.3 billion, reflecting an 11% year-over-year growth [2] Group 1: Financial Performance - In 2025, Yum China's operating profit margin increased by 60 basis points to 10.9%, marking a new high since its U.S. listing in 2016 [2] - The company's system sales and same-store sales have shown growth for three consecutive quarters, maintaining profitability in various economic cycles [2] Group 2: Market Expansion Strategy - Yum China aims to exceed 30,000 stores by the end of 2030, with a dual strategy of "outward expansion" and "internal efficiency improvement" already underway [2] - The company is focusing on increasing store density in lower-tier cities, where the current density is significantly lower than in first and second-tier cities [2][4] Group 3: Store Model Innovation - The company is iterating on store models to enhance adaptability and reduce costs, utilizing AI technology to improve overall efficiency [3] - The shift towards smaller store formats and the "shoulder-to-shoulder" modular approach allows for better resource allocation and coverage of diverse consumer scenarios [5][6] Group 4: Delivery and Takeout Growth - By 2025, delivery sales accounted for 48% of restaurant revenue, up from 39% in 2024, indicating a shift in consumer preferences [4] - New store formats like the compact KFC and satellite Pizza Hut are designed to cater to delivery and takeout demands [4] Group 5: Supply Chain Efficiency - Yum China is implementing a "full utilization" strategy in its supply chain, optimizing the use of chicken parts across different brands [12] - The company is also adjusting procurement strategies for seasonal ingredients to stabilize cost fluctuations [14] Group 6: Innovation and Product Development - Over the past three years, Yum China has launched more than 1,600 new products, averaging 1.5 new or upgraded items daily [16] - The focus on core products allows for reduced risk in new product development while enhancing customer loyalty [16] Group 7: Financial Discipline and Shareholder Returns - Yum China has committed to returning approximately $4.5 billion to shareholders between 2024 and 2026, with a specific annual plan of about $1.5 billion [20] - The balance between flexibility in operations and strategic stability supports predictable financial performance [20]

中新网天津2月5日电 (记者王君妍)记者5日从天津市商务局获悉，2025年，天津市首发经济发展势头强 劲，全年引入576家首店，其中引入品质首店超300家，同比增长96%。天津首发经济进入加速上行通 道，首店引进实现量质齐升。 2025年，天津累计引入49家非标首店，较去年同期增长63%。沉浸式、策展式、体验式等一批创新非标 首店集中亮相，首店经济呈现多元化发展态势，成为融合消费与特色场景的城市新空间。 据悉，2025年，天津以"业态融合"为抓手，将科技、体育、文旅等元素深度融入首店场景打造，吸引多 批特色首店入驻，为城市商业生态注入了强劲的跨界活力。全年累计引入餐饮品质首店164家，占全部 品质首店引入的48%。一大批网红餐饮首店集中亮相，围绕全时段运营与津味创新，有力推动了区域餐 饮消费升级和多元化发展。 从区域位置来看，中心城区为首店承载主阵地，和平区、河西区、南开区合计占据全市引入首店总量的 一半以上。从商圈来看，金街商圈、文化中心商圈、老城厢-古文化街商圈合计引入194家品质首店，三 大商圈首店集聚效应显著。 此外，2025年，天津成功举办各类首发、首秀、首展重点活动125场，涵盖时尚发布、艺术展览 ...

Core Viewpoint - The article emphasizes the importance of youth economy in Shanghai, highlighting its potential to drive consumption and innovation, with a focus on understanding and meeting the needs of young consumers [3][6]. Group 1: Youth Economy Development - The youth economy is defined as a consumption model centered around young people, driving new consumption patterns such as "self-indulgent consumption" and "emotional consumption" [3]. - Shanghai's youth economy market size has reached 4.3 trillion yuan, accounting for 68% of the new consumption sector, with Shanghai leading in various sub-sectors like coffee shops and esports [6][7]. - The average age of entrepreneurs in youth-oriented businesses is 28.1 years, indicating a vibrant entrepreneurial spirit among the youth [6]. Group 2: Challenges and Recommendations - Despite its advantages, the youth economy faces challenges such as high costs, limited financing options, and low resilience among startups, with over 30% of youth shops failing within a year [7]. - Recommendations include integrating youth economy into Shanghai's development plans, enhancing financial support, and creating a supportive regulatory environment for new business models [7]. Group 3: Consumption and Tourism - The Shanghai government aims to boost consumption through various initiatives, including enhancing service consumption and promoting cultural and tourism events [4][5]. - Inbound tourism has rebounded significantly, with a 39.58% increase in total inbound visitors in 2025, indicating a growing interest in Shanghai as a travel destination [9]. - The article suggests that inbound tourism products should focus on experiential value to attract younger visitors [9]. Group 4: Digital Transformation - Digitalization is highlighted as a key factor for the transformation of physical consumption, with calls for businesses to enhance their digital capabilities [12]. - The food and beverage sector is particularly urged to adopt digital solutions to improve service quality and safety, with suggestions for implementing AI in food safety monitoring [13].

Market Overview - The Hang Seng Index opened lower but managed to close up by 0.14% [1] - The geopolitical situation remains stable, with Iran set to negotiate nuclear issues with the U.S. on February 6 [1] - Gold and silver prices fell significantly, with silver dropping over 14% and gold falling more than 2% to below $4,900 per ounce [1] International Relations - Russian President Putin plans to visit China in the first half of 2026 following a video call with Chinese leaders [2] - U.S. and Chinese leaders had a positive discussion regarding regional issues and economic cooperation, with a planned visit by Trump to China in April [2] - China has requested state-owned enterprises to pause new investment projects in Panama [2] Technology Sector - Despite declines in U.S. tech stocks, some Chinese tech companies like Naxin Micro (02676) reported strong earnings and plan to raise product prices by 10%-25% [3] - Baidu (09888) announced a stock buyback plan of up to $5 billion and plans to introduce a dividend policy by 2026, leading to a nearly 3% increase in its stock price [3] - Xiaomi (01810) repurchased shares worth HKD 146 million, also seeing a nearly 3% rise [3] - Tencent (00700) is expected to maintain double-digit growth in its gaming business by 2026, with advertising revenue projected to grow around 20% [3] Consumer Sector - Kweichow Moutai (600519.SH) has shown strong performance, boosting consumer valuations [4] - Oriental Selection (01797) surged over 10% due to its unique brand and membership model [4] - Pop Mart (09992) reported significant demand for its new products, with resale prices on secondary markets showing substantial premiums [4] Restaurant Sector - Yum China (09987) reported total revenue of $11.797 billion for 2025, a 4% increase year-on-year, with net profit rising by 2% [5] - Haidilao (06862) is seeing positive impacts from the return of its founder, with plans for expansion and new brand growth [5] - Brainstorm Aurora-B (06681) announced a strategic partnership to promote digital health products in Southeast Asia, with a significant stock price increase of over 15% [6] Energy Sector - The U.S. is experiencing a surge in natural gas power generation capacity, with over 29 GW under construction, but many projects may face delays due to a lack of available gas turbines [7] - Companies like Eagle Precision (01286) and Dongfang Electric (01072) are positioned to benefit from this trend, with expectations of increased demand for gas turbine components [7] Aviation Sector - Cirrus Aircraft (02507) launched the new G3 Vision Jet, enhancing its product line and expected to improve profit margins [8] - The new jet model is designed for private and corporate users, featuring significant upgrades in safety and comfort [8] - Cirrus is projected to deliver approximately 800 aircraft in 2025, with new orders expected to reach around 600 units [9]