Investment Rating - The report assigns an "Accumulate" rating for the industry [4]. Core Insights - The report highlights investment opportunities in the travel industry chain, gold and jewelry, and AI+ sectors [2]. - The upcoming New Year holiday is expected to boost travel and consumption, with specific recommendations for various companies in the travel and hospitality sectors [3][4]. - The retail sector showed a 6.58% increase last week, with the consumer services sector up 4.40%, ranking first and second among 30 industries [3]. Industry Summary - **Travel and Hospitality**: - Recommendations include Ctrip Group and Tongcheng Travel for OTA, Huazhu Group-S, Jinjiang Hotels, and Shoulv Hotels for hotels, and Changbai Mountain for scenic spots [3][4]. - **Gold and Jewelry**: - Recommended stocks include Lao Pu Gold, Caibai Shares, Luk Fook Holdings, Chow Tai Fook, and Chao Hong Ji, with a focus on Emperor Jewelry [3][4]. - **Dividend Stocks**: - Recommended stocks include Sumida, Action Education, and Chongqing Department Store [3]. - **AI+ Sector**: - Recommended stocks include Conant Optical, Chalk, Tianli International Holdings, and Core International, with a focus on Kevin Education and Dou Shen Education [3]. - **Stock Price Movements**: - Notable stock price increases include Hongqi Chain (+22.79%), Jiajiayue (+15.76%), Yonghui Supermarket (+15.20%), and Tianhong Shares (+13.85%) [3]. - **Key Industry Updates**: - Hainan Free Trade Port officially launched its island-wide customs closure operation, achieving sales of over 250 million yuan on the first day, a year-on-year increase of 90% [3]. - McDonald's China announced a price increase of 0.5 to 1 yuan for some menu items [3]. - Luckin Coffee and Dazhong Capital are evaluating the acquisition of Blue Bottle Coffee from Nestlé to enhance brand image and enter the high-end coffee market [3]. - **Retail Sector Data**: - November retail sales data showed a year-on-year increase of 1.3%, with a slowdown attributed to the early "Double Eleven" promotions [3]. - New store openings include JD's discount supermarket in Beijing and Meituan's Xiaoxiang Supermarket, with significant first-day revenues reported [3].

百色一加油站使用作弊系统，偷油又偷税；桂林一机动车检测公司篡改车载诊断系统，出具虚假机动车 尾气排放检验报告；防城港一包子店经营不符合食品安全标准食品，拒不履行行政处罚决定……12月19 日晚，自治区市场监管局发布群众身边不正之风和腐败问题专项整治中严重违法失信典型案例（第一 批），多家公司被列入严重违法失信名单。 加油站使用作弊系统，偷油又偷税 2024年4月29日，百色市隆林各族自治县市场监管局对隆林金林加油站有限公司进行现场检查，对正在 使用的3块加油机计控主板进行抽样检查，委托加油机生产企业正星科技股份有限公司和内蒙古自治区 产品质量检验研究院分别进行检验和功能测试。《检验报告》显示，所抽检主板及其U3处计量程序均 非原装主板和程序，《软件测试报告》结论为：加油机主板具有修改计量数据和税控数据的功能。 该加油站使用以欺骗消费者为目的的计量器具，严重侵害消费者权益。隆林各族自治县市场监管局根据 相关规定，对其作出没收涉案燃油加油机，没收违法所得，并按照从重处罚原则进行罚款，同时将该加 油站列入严重违法失信名单。 出具虚假检测报告，检测公司被取消资质 该公司使用未经检验的特种设备，严重危害了公共安全和人民 ...

（来源：荔枝新闻） 转自：荔枝新闻 不止苏超，还有苏味 12月20日 "我是厨神"寻味十三城 环省美食嘉年华南京站 在鼓楼宜悦里·南瑞路热力开启 "百县千味"地标美食集体亮相 盐水鸭、蟹粉狮子头、鸡汁汤包、 雨花石汤圆、美龄粥等 一道道老南京记忆里的经典风味菜 上午十点多，活动在舞蹈表演中拉开帷幕。动感的舞台表演将饮食文化与城市气质巧妙融合，瞬间点燃 现场氛围，随后，江苏省广播电视总台主持人向市民朋友发出"共尝金陵味道"的诚挚邀请。现场配 套"江苏味道·悦里消费市集"，打造一站式品味江苏风味新场景。 本次活动由江苏省商务厅、江苏省广播电视总台联合主办，江苏银行总冠名，洋河股份、恒顺醋业特别 支持。作为"江苏味道"冬季美食推广季的重要一站，"我是厨神"寻味十三城环省美食嘉年华以覆盖全省 市域、县域超4000公里的寻味旅程，串联江苏各地饮食文化，深化城市情感链接，持续释放冬春消费活 力。南京站活动现场围绕围绕南京美食文化，设置了多轮互动问答，引发市民踊跃参与，在轻松互动中 加深对南京饮食文化的认知与共鸣。 美食一上桌，城市便有了温度。作为活动现场最具人气的环节之一，来自金陵饭店、古南都、鸡鸣汤 包、随园糕团、南京 ...

本次美食节采用"1个主会场+N个分会场"全域联动模式进行。主会场设在绛溪里・湖滨天地，12月20日－21日期间，除了美食集市、乐队演出、舞狮表演 外，20家本地知名餐饮品牌将带来众多经典菜品、创意"鱼羊鲜"融合菜以及特色农产品。分会场活动将持续到2026年1月3日，覆盖羊肉汤、川味火锅、特色 小吃等多个品类，并联动当地众多餐饮商家延伸美食体验场景。为进一步激发消费活力，成都东部新区同步发放新春消费券，包括餐饮、零售两大板块，通 过叠加商家专属折扣，为市民游客提供"鲜味"福利。 作为成都东部新区推动文商旅农融合发展的创新实践，本次美食节既是培育区域美食IP的重要载体，也是促产业、惠民生的重要平台。未来，该区将持续深 耕"鲜东东"IP，将其打造为吸引人才、汇聚资本、提升城市魅力的文化标识。 启动仪式内容丰富。成都东部新区国际合作和投资促进局发布餐饮行业高质量发展专项扶持政策，覆盖品牌落户、经营贡献、场景打造等方面。成都东部新 区餐饮行业协会与四川溪和美农业有限公司、四川中一惠民农业科技有限责任公司和成都东部城乡建设发展有限公司签署供应链战略合作协议，进一步打通 从产区到餐桌的高效链接。 现场，成都东部新区美食IP ...

Core Insights - The report provides a comprehensive analysis of the current state and future prospects of various industries in China, focusing on investment opportunities and macroeconomic factors influencing these sectors [3][4][5]. Group 1: Macroeconomic Environment - The report discusses the macroeconomic environment for industrial investment in China, including policies, economic growth, and foreign direct investment trends [3][4]. - It highlights the GDP growth forecast for 2025, indicating a positive outlook for economic expansion [3]. - The analysis includes fixed asset investment scale from 2020 to 2025, showing significant growth trends [3][4]. Group 2: Industry-Specific Investment Opportunities - The real estate sector is analyzed for its investment environment, including policy impacts and market conditions, with a focus on urban complexes and tourism real estate as key opportunities [5][6]. - The internet industry is identified as a strategic emerging sector, with investment opportunities in mobile payment and e-commerce [5][6]. - The energy sector is highlighted for its investment potential, particularly in renewable energy resources and processing [6][7]. Group 3: Mergers and Acquisitions - The report outlines the trends in mergers and acquisitions within various industries, noting increased regulatory scrutiny and the rise of private equity as a driving force [4][5]. - It discusses the active merger activities in cultural media and real estate sectors, indicating a dynamic market environment [4][5]. Group 4: Emerging Industries - New energy and new materials industries are emphasized for their growth potential, supported by government policies and increasing market demand [15][16]. - The biotechnology sector is also highlighted, with a focus on investment opportunities arising from policy support and market trends [15][16]. Group 5: Regional Investment Analysis - The report provides a detailed analysis of investment environments across different regions in China, identifying specific opportunities in provinces like Guangdong and Jiangsu [20][21]. - It emphasizes the importance of regional characteristics in shaping investment strategies and opportunities [20][21].

【重点关注】 ·《互联网平台价格行为规则》印发：不得强制或者变相强制平台内经营者降价或者以让利、返现等方 式促销 ·"超碳一号"来了！全球首台商用超临界二氧化碳发电机组商运 ·世贸组织成员授权欧盟就橄榄贸易争端对美实施反制 【国内要闻】 ·为健全互联网平台常态化价格监管机制，规范相关价格行为，保护消费者和经营者合法权益，推动平 台经济创新和健康发展，国家发展改革委、市场监管总局、国家网信办制定了《互联网平台价格行为规 则》。平台内经营者在不同平台销售商品或者提供服务的，依法自主定价。平台经营者不得违反《中华 人民共和国电子商务法》第三十五条规定，采取提高收费标准、增加收费项目、扣除保证金、削减补贴 或者优惠、限制流量、搜索降序、算法降权、屏蔽店铺、下架商品或者服务等措施，对平台内经营者的 价格行为进行下列不合理限制或者附加不合理条件：（一）强制或者变相强制平台内经营者降价或者以 让利、返现等方式进行促销；（二）强制或者变相强制平台内经营者在该平台销售商品或者提供服务不 得高于在其他销售渠道的价格；（三）强制或者变相强制平台内经营者开通自动跟价、自动降价或者类 似系统；（四）其他限制平台内经营者自主定价权的行为 ...

Core Viewpoint - The concept of "reassured consumption" in Hangzhou has expanded beyond just "no-reason return" to encompass various aspects of the consumer experience, supported by digital tools and integrated reforms in consumer protection [1][4]. Group 1: Digital Tools and Consumer Protection - Hangzhou's market regulatory bureau launched a "Reassured Consumption Cluster Area Check-in Map," allowing consumers to access detailed information about 32 designated areas, including highlights, addresses, and operating hours [1]. - The "four-dimensional integrated reform" model combines commitments to "reassured consumption" and "no-reason return" with dual mechanisms for consumer rights protection, creating a comprehensive ecosystem for consumer trust [4]. Group 2: Economic Impact on Rural Areas - The village of Shishe in Tonglu County has become a "internet-famous village," attracting over one million visitors annually, with tourism revenue projected to reach 82 million yuan in 2024, showcasing the economic benefits of a secure consumption environment [5]. - The integration of "reassured consumption" with rural tourism has led to a significant increase in income for local businesses, with 37 out of 60 operators in the village committing to consumer protection promises [5][7]. Group 3: Consumer Rights and Dispute Resolution - Shishe village has implemented a tiered mediation mechanism involving local villagers and market regulators to resolve disputes, ensuring that most conflicts are addressed locally [8]. - The village promotes a "one-click resolution" model for consumer disputes, achieving an 80% success rate in online resolutions for conflicts arising after transactions [8]. Group 4: Quality Assurance in Markets - The "Nongfa Urban Kitchen" in Hangzhou has established itself as a model for assured consumption, with vendors publicly committing to fair pricing and transparent practices, such as "weighing without skin" for seafood [9][11]. - The market management conducts regular inspections and provides on-site testing services for vendors, ensuring compliance with safety standards and enhancing consumer confidence [13][15]. Group 5: Consumer Satisfaction and Business Growth - The establishment of a consumer rights liaison station in the market has led to a 100% satisfaction rate in resolving complaints, contributing to a 16% decrease in disputes and an increase in customer traffic and revenue [15].

昨天(12月19日)，贵阳文旅邀请了20多位来自全国的网络达人和贵阳本土新业态主理人到阿云朵仓共进晚餐。 "现在就算是正餐开始了，希望今天在场各位大V、主理人给我们贵阳文旅发展提出宝贵意见。" 在现场体验了贵州美食后，随着贵阳市文旅局副局长邱俊松开始推介贵阳"五精十景"，这场"晚宴"正式开始。 "这次来贵阳体验已经是next level了，感觉这边有一点'潮到风湿'。"来自广东的有千万粉丝量的旅游博主宝妈可其对贵阳新业态大加赞赏。 "贵阳有青岩古镇，重庆有磁器口古镇，普通人看起来老房子都差不多，但背后承载的文化和情感，这就大不一样。文化走在前，贵阳文旅一定要讲好故 事。"经营账号"老黄带你去旅游"的资深媒体人黄锐建议。 "爽爽贵阳？烟火人间"贵阳市文旅创新发展主题活动现场 包整贵州小吃研究中心董事长彭潇禾则分享了瞄准米其林、黑珍珠级产品供应不停升级的新黔菜创新路径，建议政府在本地餐饮发展过程中注重香禾糯、酸 汤等贵州本土风物保护开发。 阿云朵仓主理人曹国梁讲述了深耕本土文化，在都市中营造"当代村落"的独特理念…… 2个多小时的交流干货满满，本地新业态主理人结合自身实践，生动推介了"五精十景"的鲜活内涵，网络大 ...

据悉，本次消费季将从12月持续至明年3月，以"1+4+15+N"为框架，包括一场启动仪式、四大主题篇章、十五场县城重点活动及 多项乡镇特色活动，涵盖音乐会、非遗集市、年货展销、民俗表演、全民健身等多种形式，同时配套发放百万消费券，全域联 动打造兼具烟火气与文化味的消费盛宴。 作为本次消费季活动核心承载地，江安县全新商业地标——成悦广场于同日开业。成悦广场总建筑面积约7万平方米，是当地目 前规模最大、业态最全的一站式商业综合体。该广场成功引进130余个品牌，其中超100个品牌为首次进入当地市场，涉及精品 零售、亲子娱乐、特色餐饮、院线影城等多元业态。 12月19日，宜宾市江安县2025年"悦享江安·暖冬迎新"文商旅融合消费季启幕。 江安成悦广场（江安县委宣传部供图） 今年以来，江安县已累计开展各类促销活动150余场，发放消费品以旧换新补贴及惠民消费券超1800万元，直接带动消费2.5亿 元。 江安县相关负责人表示，此次消费季活动，既是贯彻落实促消费部署的"江安行动"，也是服务市民、惠及企业、推动发展的务 实之举。下一步，该县将通过一系列内容多样、形式丰富的促销及文旅体验活动，实现政府、企业、市民与社会各界的"大 ...

Core Viewpoint - McDonald's has implemented a price increase on select menu items, raising prices by 0.5 to 1 yuan, which reflects a broader trend of incremental price adjustments rather than isolated incidents [1][3][5] Group 1: Price Adjustments - The price increase affects various items including classic burgers and desserts, with the rationale being a commitment to providing high-quality meals and value options [1][3] - This is not the first price adjustment in recent times; previous changes included a shift in delivery fees and minor price hikes on breakfast items, indicating a trend towards regular price adjustments [5][8] - The company is utilizing promotional strategies, such as the "10 yuan eat burger" campaign, to maintain customer engagement while subtly increasing prices [3][8] Group 2: Financial Performance - In the third quarter, McDonald's reported revenues of $7.08 billion, a 3% year-over-year increase, and a net profit of $2.28 billion, up 2% from the previous year, indicating ongoing profitability despite growth pressures [5][7] - The company is facing challenges in balancing costs, supply chains, and channels, leading to price adjustments as a quick response mechanism [5][7] Group 3: Consumer Perception and Market Strategy - The frequent price changes may lead to consumer fatigue and a potential erosion of trust in the brand, as customers may feel manipulated by pricing strategies [7][8] - Competitors like KFC have employed low-price strategies, prompting McDonald's to respond with its own promotions to retain customer traffic [8] - The pricing strategy reflects a broader trend in the industry where companies are restructuring costs and fees, often leading to hidden charges that complicate the consumer experience [8][11]