Group 1 - The 2026 Beijing Michelin Guide has been officially released, featuring 24 restaurants awarded one Michelin star, including new entries Rong Pao, Chao Shang Chao (Xicheng), and Jia Quan Qi Fu [1] - The list of one-star restaurants includes notable names such as Cai Yi Xuan, Fu Chun Ju, and Mei Da Dong, among others [1] - Last year's one-star restaurants, Fu Lin Restaurant and Ling Long, are currently closed, while He Tian E and Lan Zhai have been upgraded to two stars this year [2]

校对 刘军 编辑 王琳 新京报讯（记者王萍）10月29日，《2026北京米其林指南》正式发布，共6家北京餐厅摘得"米其林"二 星，分别为京季、京兆尹、鲁上鲁、屋里厢、黑天鹅、兰斋。 ...

新京报讯(记者王萍)10月29日，《2026北京米其林指南》正式发布，潮上潮(朝阳)、新荣记(新源南路)两 家北京餐厅摘得"米其林"三星。 ...

新京报讯（记者王萍）10月29日，《2026北京米其林指南》正式发布，26家北京餐厅获得"米其林"必比 登推介。其中煲煲好、刘妈妈肉汁饺子（朝阳）、明园餐厅、卖汤、坛、湘彬萱（花园路）、湘临天下 为今年新上榜餐厅。 获得必比登推介的26家餐厅为煲煲好、爆肚金生隆（东城）、宝源、闽中闽（东三环北路）、老川办、 红蕃茄（玉渊潭南路）、华盛丰（东三环南路）、京华楼、静一（琉璃厂东街）、柴氏风味斋、刘妈妈 肉汁饺子（朝阳）、明园餐厅、卖汤、牛街清真满恒记、方砖厂69号炸酱面（方砖厂胡同）、胖妹面庄 （香饵胡同）、钱塘花园（双榆树北路）、荣小馆（百子湾南二路）、坛、天厨妙香素食（朝阳）、同 和居（月坛南街）、湘彬萱（花园路）、湘临天下、宜宾招待所、玉华台（西城）、钟餐厅。 编辑 王琳 校对 杨利 ...

新版榜单共收录32家米其林星级餐厅，潮上潮 (朝阳)和新荣记 (新源南路)继续蝉联最高荣誉——米其林 三星。米其林二星阵容显著扩大，由好利来创始人之子创立的法餐餐厅黑天鹅和素食餐厅兰斋成功晋 升。京季、京兆尹、鲁上鲁和屋里厢继续蝉联米其林二星。此外，北京米其林一星餐厅中也不乏新晋力 量，潮上潮 (西城)、荣袍和家全七福 3家餐厅成功加入星级行列。由此，北京一星餐厅的数量达到24 家，共覆盖10余种烹调风格。 新版北京榜单中， 8家餐厅首次进入必比登推介榜单。新上榜餐厅涵盖了丰富菜系，包括广东煲仔菜为 特色的煲煲好、以汤品为招牌的家常粤菜馆卖汤、北方风味饺子馆刘妈妈肉汁饺子 (朝阳)、在胡同里开 业数十年的京菜馆明园餐厅、浙江风味的华盛丰 (东三环南路)、川菜风格的坛餐厅，以及两家地道湖南 菜餐厅湘彬萱 (花园路）和湘临天下。 今年的掉星变动上，此前的一星餐厅富临饭店、LING LONG因停业掉出榜单，淮扬府（东城），湘爱 （工体东路）则由一星降至入选。 10月29日，米其林指南正式公布2026北京米其林指南完整榜单，共计99家餐厅入选新版北京米其林指 南，其中2家晋升为米其林二星，3家餐厅最新上榜米其林一星。 ...

北京商报讯（记者郭缤璐）10月29日，米其林指南正式公布2026北京米其林指南完整榜单，共计99家餐厅入选新版北京米其林指南，其中2家晋升为米其林 二星，3家餐厅最新上榜米其林一星。 新版榜单共收录32家米其林星级餐厅，潮上潮 (朝阳)和新荣记 (新源南路)继续蝉联最高荣誉——米其林三星。米其林二星阵容显著扩大，由好利来创始人之 子创立的法餐餐厅黑天鹅和素食餐厅兰斋成功晋升。京季、京兆尹、鲁上鲁和屋里厢继续蝉联米其林二星。此外，北京米其林一星餐厅中也不乏新晋力量， 潮上潮 (西城)、荣袍和家全七福 3家餐厅成功加入星级行列。由此，北京一星餐厅的数量达到24家，共覆盖10余种烹调风格。 新版北京榜单中， 8家餐厅首次进入必比登推介榜单。新上榜餐厅涵盖了丰富菜系，包括广东煲仔菜为特色的煲煲好、以汤品为招牌的家常粤菜馆卖汤、北 方风味饺子馆刘妈妈肉汁饺子 (朝阳)、在胡同里开业数十年的京菜馆明园餐厅、浙江风味的华盛丰 (东三环南路)、川菜风格的坛餐厅，以及两家地道湖南菜 餐厅湘彬萱 (花园路）和湘临天下。 今年的掉星变动上，此前的一星餐厅富临饭店、LING LONG因停业掉出榜单，淮扬府（东城），湘爱（工体东路）则 ...

Core Insights - The Cheesecake Factory is set to report its third-quarter fiscal 2025 earnings on October 28, with projected EPS of $0.60 and revenue of approximately $913 million [1][2] Financial Performance - Analysts forecast a 3.5% increase in EPS from $0.58 reported in the same quarter last year, driven by strong demand, menu innovations, and efficient cost management [2] - The company has consistently outperformed earnings expectations, with an average surprise of 15.2% over the last four quarters [2][6] - In the most recent quarter, CAKE reported earnings of $1.16 per share, exceeding the Zacks Consensus Estimate of $1.06 per share, resulting in a 9.43% surprise [3] Market Valuation - CAKE's price-to-earnings (P/E) ratio is approximately 16.39, and the price-to-sales ratio is about 0.76, indicating a valuation of $0.76 for every dollar of sales [4] - The enterprise value to sales ratio stands at around 1.29, reflecting the company's total valuation in relation to its sales [4] Financial Health - The current ratio is approximately 0.20, indicating potential liquidity challenges for the company [5][6] - The debt-to-equity ratio is notably high at 5.24, suggesting a significant reliance on debt financing over equity [5][6]

Core Insights - The first Michelin Food Festival in Guangdong has opened in Shenzhen, featuring 8 Michelin restaurants and 17 local star restaurants, highlighting the city's culinary diversity and appeal [1][2] - The event aims to position Luohu District as a core area for international consumption, with plans for more high-impact international events in the future [1] - The Michelin Guide will include Shenzhen for the first time in 2026, merging it with the Guangzhou guide to release the "2026 Guangzhou and Shenzhen Michelin Guide" [2] Group 1 - The Michelin Food Festival attracted over 6,000 visitors within just three hours of its opening [2] - The festival showcases popular dishes like "Zhong Shui Jiao" from the Michelin-starred restaurant Song, which gained popularity through the variety show "Yi Fan Feng Shen" [1] - The event reflects the growing trend of using food as a means to enhance a city's cultural and tourism appeal, similar to other cities known for their unique culinary offerings [1]

Group 1 - The actual GDP growth rate for July to September 2025 is 4.8%, which is a slowdown from 5.2% in April to June, primarily due to weak real estate affecting domestic demand [2][4] - Fixed asset investment decreased by 0.5% in the first three quarters, indicating negative growth, while infrastructure investment grew by 1.1% [4] - The retail sales of consumer goods increased by 4.5% in the first three quarters, a decline from 5.0% in the first half of the year, with restaurant revenue growing by 3.3% [4] Group 2 - Industrial added value for large-scale industries grew by 6.2% in the first three quarters, but the growth rate slowed from 6.4% in the first half [4] - Exports (in USD) increased by 6.6% in July to September, with a trade surplus growing by 12% year-on-year, despite a decrease in exports to the US [5]

Investment Rating - The investment rating for the company is Neutral [2][18]. Core Insights - The company has adjusted its earnings forecast downward due to a slow recovery in same-store sales, maintaining a neutral rating with a target price reduced to HKD 2.32, reflecting a potential upside of 13.7% [6][18]. - Same-store sales for the third quarter showed declines, but there are initial signs of recovery, particularly in the "Tai Er" brand, which has seen improvements in major cities [6][19]. - The company is focusing on optimizing its store network and upgrading its "Tai Er" model, which is expected to drive sales recovery in the latter half of the year [6][19]. Financial Summary - Revenue projections for 2025 have been slightly reduced to RMB 5,553 million, with net profit estimates adjusted to RMB 143 million [5][19]. - The company’s earnings per share (EPS) for 2025 is forecasted at RMB 0.10, reflecting a significant decrease from previous estimates [5][19]. - The price-to-earnings (P/E) ratio for 2025 is projected at 18.8 times, down from earlier estimates [5][19]. Store Performance - As of the end of September, the total number of stores was 686, with a net decrease of 43 stores primarily due to the closure of underperforming locations [6][19]. - The "Tai Er" brand has implemented a new operational model, with 106 upgraded restaurants as of September, aiming to expand to over 200 by the end of 2025 [6][19]. Sales Metrics - The average daily sales for the third quarter showed declines of 9.3% for "Tai Er," 19.1% for "Song Hot Pot," and 14.8% for "Jiu Mao Jiu," although the rate of decline has narrowed compared to the previous quarter [6][19]. - The table turnover rates for "Tai Er," "Song," and "Jiu Mao Jiu" were 3.3, 2.4, and 2.5 respectively, indicating slight improvements in operational efficiency [6][19].