Core Insights - The article discusses the recent implementation of a plan by six departments, including the Ministry of Industry and Information Technology, aimed at enhancing the adaptability of supply and demand in consumer goods, with a focus on five key tasks to stimulate consumption [1] Group 1: Consumption Trends - The article highlights the emergence of new cultural and tourism products, such as ice and snow sports experiences, which are contributing to a "hot economy" from previously underutilized "cold resources" [2] - The success of the Beijing Winter Olympics mascot "Bing Dwen Dwen" and the strong box office performance of "Zootopia 2" in China indicate a robust consumer market that exceeds expectations [2] - The shift in consumer demand from mere availability to quality reflects a growing emphasis on high-quality products and services, as outlined in the "14th Five-Year Plan" [2][3] Group 2: Supply and Demand Adaptation - The article emphasizes the importance of addressing structural mismatches in supply and demand, particularly in the elderly care market, where the market size is projected to grow from 2.6 trillion yuan to 5.4 trillion yuan from 2014 to 2024 [3] - It suggests that businesses should focus on producing what consumers want, such as high-end brands in jewelry and cosmetics, to better meet diverse consumer needs [3] Group 3: Innovation and New Consumption - The article stresses the significance of innovation in driving consumption, highlighting the need for new products, services, and experiences to meet evolving consumer demands [4] - It notes that the integration of technology and digitalization is crucial for enhancing existing production capacities and developing high-quality products [4] - The expansion of international brands and the success of Chinese brands in global markets, such as the rapid growth of overseas stores for brands like Mixue Ice City, demonstrate the potential for increased consumption levels [4] Group 4: Market Opportunities - The article identifies opportunities in traditional consumption sectors, suggesting that there is still potential for growth through innovative approaches, such as the production of yoga apparel and low glycemic index food products [5] - It highlights the emergence of new consumption hotspots, particularly in urban areas, where brands are adapting to health trends and cultural heritage [6] - The article concludes that the acceleration of consumption structure upgrades is critical for stimulating domestic demand and supporting economic stability [6]

根据公告，日播时尚拟以14.2亿元通过发行股份及支付现金的方式收购四川茵地乐材料科技集团有限公 司（以下简称"茵地乐"）71%股权，同步募集配套资金1.558亿元。 本报讯 （记者张文湘见习记者占健宇）12月11日，日播时尚集团股份有限公司（以下简称"日播时 尚"）发布公告称，公司发行股份及支付现金购买资产并募集配套资金暨关联交易事项已获得上海证券 交易所并购重组审核委员会审核通过。 （文章来源：证券日报） 公告显示，本次交易前，日播时尚主营业务为精品服装的创意设计、材料及工艺技术研发及生产销售， 专注于中高端时尚女装领域。茵地乐主营业务为锂电池粘结剂的研发、生产与销售。本次交易完成后， 日播时尚将进一步丰富业务类型，形成"服装+锂电池粘结剂"的双主业经营格局，有助于拓宽盈利来 源，提高公司的核心竞争力，实现业务拓展和利润增长。 ...

（文章来源：证券日报） 证券日报网12月11日讯嘉曼服饰在12月11日回答调研者提问时表示，公司暂未开展跨境电商，但有持续 关注海外市场情况，未来不排除择机布局海外市场。 ...

证券日报网12月11日讯嘉曼服饰（301276）在12月11日回答调研者提问时表示，公司一直都在持续优化 和拓展线下渠道，公司优选在客流量大、位置佳的人气购物中心或百货开设门店，关闭一些利润薄的老 旧店铺，同时在门店形象及陈列上予以更新升级。对于男女装与成人鞋品类，未来公司会重视发展优质 直营渠道，并辅助加盟渠道的规模拓展，从而强化品牌形象，方便消费者触达。 ...

证券日报网12月11日讯嘉曼服饰在12月11日回答调研者提问时表示，公司自有品牌水孩儿自1995年诞 生，已度过了三十年的春秋，自有品牌暇步士和授权品牌哈吉斯公司也运营了十多年的时间，自有渠道 品牌BEBELUX运营了近二十年。公司经过多年的积累，针对不同品牌的调性和风格拥有了非常丰富的 设计开发经验，对旗下各品牌的DNA和与之对应的消费群体偏好十分了解。公司还拥有一支富有经验 的企划及设计师队伍，以及完善的设计开发流程。首先，在设计初期商品企划人员会基于市场历史销售 数据给出设计团队款式需求量、类别、比例、指导价格区间等信息作为开发指导。然后，设计团队结合 对流行色、消费情绪洞察方面的趋势，设计研发符合公司旗下各品牌调性，具体到每一款的设计方案。 最后，设计团队完成的设计稿要经过市场、销售、采购等多部门的联席评审，通过公司各部门核心人员 组成的联席评审机构筛选后，最终确定可以满足不同品牌消费者偏好的产品，以确保品牌核心理念得以 在产品中实现。 （文章来源：证券日报） ...

证券日报网12月11日讯嘉曼服饰在12月11日回答调研者提问时表示，公司目前在库存管理上运用以数字 化为主，人工为辅的管理机制，根据数字化管理系统进行动态库存管理，结合人工预警机制，检查填补 系统可能出现的短板。公司也在持续跟进人工智能的技术发展。未来公司将会不断尝试与新技术结合， 从而提高公司整体效率。 （文章来源：证券日报） ...

Core Viewpoint - The establishment of Jiangyin Hailan Water Beverage Co., Ltd. by Hailan Home, with an investment of 5 million yuan, marks its entry into the beverage market, reflecting a strategic shift from a clothing brand to a broader family-oriented brand [3][4]. Financial Performance - Hailan Home's financial performance has shown stagnation, with a significant decline in net profit by 26.88% in 2024, amounting to 2.159 billion yuan, which is lower than the profit level of 2.375 billion yuan in 2014, indicating a regression of at least ten years [9][10]. - In the first three quarters of 2025, the company reported a revenue of 15.599 billion yuan, a year-on-year increase of 2.23%, but net profit decreased by 2.37% to 1.862 billion yuan, highlighting a situation of increasing revenue without profit growth [10]. - The main brand's revenue has been declining, with a 5% drop in the first three quarters of 2024 and a further decrease of 3.99% in the first three quarters of 2025, leading to a total revenue of 10.849 billion yuan [10]. Inventory and Cost Management - As of mid-2025, Hailan Home's inventory reached 10.255 billion yuan, with a turnover period of 322.58 days, indicating significant pressure on cash flow and inventory management [10]. - Sales expenses have risen sharply from 2.403 billion yuan in 2020 to 4.841 billion yuan in 2024, with 3.524 billion yuan spent in the first three quarters of 2025, while R&D expenses remain low at 157 million yuan, showing a heavy reliance on marketing over innovation [10]. Market Entry and Strategy - The bottled water market is seen as a potential growth area for traditional companies, characterized by high consumption frequency and stable demand, but it is dominated by major players like Nongfu Spring and Yibao, which hold nearly 60% of the market share [13][15]. - Analysts suggest that Hailan Home's entry into the beverage market may be a low-cost diversification attempt rather than a robust strategic move, given the significant differences in product logic and consumer scenarios between clothing and beverages [15]. Future Outlook - The establishment of Hailan Water may primarily aim to meet the internal water supply needs of Hailan Home's extensive network of over 7,200 stores, with 5,631 located domestically, which presents a considerable daily demand for water [19]. - The company may leverage its existing brand influence to attract young consumers through this cross-industry venture, but success will depend on product quality and differentiation in a highly competitive beverage market [21][22]. - The management faces a critical decision on whether to continue investing in traditional operations or to allocate resources to explore new, uncertain markets, with the establishment of Hailan Water potentially serving as a test of market conditions [24].

证券日报网12月11日讯嘉曼服饰在12月11日回答调研者提问时表示，公司未来两年重点仍然在产品的升 级迭代上，但公司会持续推进常态化的明星合作、达人种草、线上推广等，也会随着线下渠道的铺设开 展系列营销活动，例如广告营销、地面推广等，所以短期内公司销售费用将维持稳定。中长期来看，公 司会随着不同品牌的发展阶段适时加大宣传推广的投入，强化品牌认知，积累品牌势能。 （文章来源：证券日报） ...

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答:公司目前在库存管理上运用以数字化为主，人工为辅的管理机制，根据数字化管理系统进行动态库 存管理，结合人工预警机制，检查填补系统可能出现的短板。公司也在持续跟进人工智能的技术发展。 未来公司将会不断尝试与新技术结合，从而提高公司整体效率。 格隆汇12月11日丨嘉曼服饰(301276.SZ)在投资者关系中表示，有被问到:公司在库存管理的数字化运营 程度。 ...