水蛟村村口的500多亩田洋是极好的生态景观资源，游客驱车而过总是会被这大片绿意盎然的田野吸引。 为提高农田的设施利用率，给村民和游客提供更多休憩场所和更好的生态景观体验，水蛟村在保护好农田、 不破坏耕作层的前提下，尝试建设农旅休闲观光项目，利用灌溉水渠打造彩虹桥。 海南日报三亚5月26日电(海南日报全媒体记者 孙慧 通讯员 苏军 尹建军)"走，到彩虹桥散步去!""去彩虹 桥上拍个照!"5月25日晚，夜幕降临，三亚市天涯区水蛟村田洋上的彩虹桥灯光亮起，微风拂过青苗，蛙鸣此 起彼伏。村民、游客行走桥上，感受着乡村夜晚的宁静美好。以彩虹桥为元素，"给水蛟村的蓝天和田野写一 封情书""在水蛟村看见银河星空"等网友留言也出现在小红书、抖音、微信朋友圈等社交平台。 如何想到在田野上架起一座彩虹桥，营造出一处村民、游客爱打卡的"摄影棚"?这背后有故事。 坐落在凤凰机场附近的水蛟村是一个闹中取静的小村庄。村庄有温泉，有溪流，还有隐藏于山中的德田 水库，民风淳朴，是当地有名的美丽乡村示范村。 近年来，水蛟村将先天优势积极转化为后发动能，整合闲置农田、宅基地、农户农房等资源，与企业、 合作社合作发展产业，壮大集体经济。同时，在村 ...

这两年， 全球风投市场跟着技术和地缘局势悄悄重新洗牌 ：根据毕马威的数据，2025年Q1全球VC投 资总额增长至1263亿美元，且资本越来越往头部集中，AI成了投资热门。但伴随而来的就是 合规风险 也在增长 ，从投资架构到反垄断审查，处处藏着不少坑。 1、交易文件关注要点 一一一一一一一一、、、、、、、、 CCCCCCCCVVVVVVVVCCCCCCCC 的的的的的的的的投投投投投投投投资资资资资资资资特特特特特特特特点点点点点点点点 1、CVC和IVC的区别 | | | 独立风险投资 (IVC) | 企业风险投资 (CVC) | | | --- | --- | --- | --- | --- | | 投资基础 | | 成功投资的声誉 | 公司商业、技术成功的声誉 | | | | | 投资团队水平、过往业绩 | 公司内部执行经验 | | | 投资目标 | | 财务回报 | 业务整合和协同、前沿领域的早期竞争优势（技术、市 场、团队等）、早期干预潜在竞争对手的独立成长 | | | 窓原优势 | | 专业的投资团队和投资关系网络 | 产业经验和资源,可以向被投企业提供商业合作机会 | | | 募资环节 | | 有 ...

人民网洛阳5月21日电 （高清扬）5月20日，以"气象赋能新质文旅·共绘诗与远方"为主题的第三届 气象旅游发展大会在河南省洛阳市召开。中国气象局、文化和旅游部，以及各省（自治区、直辖市）文 旅、气象相关领域的专家等共同探寻气象驱动文旅经济发展的新动能、新路径。 激活乡村振兴"一池春水" 在中国农业科学院农业经济与发展研究所所长、党委副书记胡向东看来，乡村休闲旅游业发展高度 依赖气候和自然环境。如花期、采摘季等季节性波动直接影响游客流量；温度、湿度、空气质量等决定 了游客体验度。 因此，气象部门通过优化气候资源配置、强化风险预控能力、量化农产品生长周期气象数据等，赋 能乡村振兴。 气象赋能是实现乡村"产业兴旺、生态宜居"的重要支撑。 "及时的预警信息为应对十级以上大风争取了时间。"狄雅静表示，灾前，故宫根据风力等级和风 向，针对性地作出了损伤可能性分析、重点防范区域分析等，并制定预防措施；灾中根据实时报警、跟 踪研判风力走向，及时调整应对措施；灾后及时进行损失分析与策略调整。 狄雅静认为，气象信息与数据在遗产管理与灾害应对中发挥了极为重要的作用。同时，她建议，遗 产地需在系统研究的基础上建立良好的协同机制，且未 ...

Group 1 - The SIAL International Food Exhibition recently held in Shanghai attracted over 5,000 exhibitors from 75 countries and regions, showcasing the latest trends and products in the food and beverage industry [1] - Salted Fish, a leading domestic snack food company, presented several new sweet products at the exhibition, including collaborations with various brands [1] - The Chinese baking market is expected to see a trend towards combining health and taste by 2025, with a shift from "delicious" to "healthy eating" [1] Group 2 - The new products showcased by Salted Fish incorporate multiple technological innovations, such as a new generation of toast production lines and upgraded equipment to enhance flavor and texture [2] - In 2023, Salted Fish initiated a category brand strategy, establishing three business units focused on spicy, sweet, and healthy products, resulting in significant revenue growth [4] - The company achieved a revenue of 5.304 billion yuan in 2024, representing a year-on-year increase of 28.89%, and reported a revenue of 1.537 billion yuan in the first quarter of 2025, a 25.69% increase compared to the same period last year [4]

Core Viewpoint - Guangzhou Restaurant (603043) has shown a positive stock performance, with a closing price of 16.24 yuan as of May 23, 2025, reflecting a 2.65% increase from the previous week [1] Company Announcements - The company announced a cash dividend of 0.48 yuan per share, with the record date set for May 26, 2025, and the ex-dividend date and payment date on May 27, 2025 [1] - The total cash dividend distribution amounts to 273,009,986.40 yuan, approved during the annual shareholders' meeting on April 22, 2025 [1] - For individual shareholders and securities investment funds holding unrestricted circulating A-shares, the actual cash dividend per share is 0.48 yuan [1] - Qualified Foreign Institutional Investors (QFII) and Hong Kong market investors will receive a net cash dividend of 0.432 yuan per share after a 10% withholding tax [1] - Institutional investors and corporate shareholders will receive the full cash dividend of 0.48 yuan per share [1]

2025 年 05 月 24 日 策略研究团队 理解消费今年以来的领涨——从总量到结构 ——投资策略周报 韦冀星（分析师） weijixing@kysec.cn 证书编号：S0790524030002 无论是 4 月以来，还是年初以来，消费均领涨 无论是 4 月以来（尤其是对等关税实施后），还是今年年初以来，市场领涨的细分板 块均以消费为主，其中又以个护用品、动保、饲料、休闲食品、化妆品等品种涨幅 最为领先。我们自 2.12 春季策略展望以来推荐的消费细分行业则包括服装鞋帽、汽 车（包括两轮电动车）、零售、食品、美容护理、养殖、饲料、零食。 如何理解消费今年以来的领涨——从总量到结构 1、预期差 1：财政即便是弱扩张，社零也有更高弹性。我们发现，社零增速的弹性 对财政支出周期非常敏感。许多投资者倾向于认为，消费是显著的后周期品种，往 往需要投资或出口有显著的改善之后，消费的提振才慢慢显现。但我们发现一个预 期差：社零同比增速与名义 GDP 增速的轧差可以看做社零的弹性，当财政支出在下 行（收紧）周期时，社零的弹性减弱，而当财政支出在上行（扩张）周期时，社零 的弹性上行。随着财政支出周期从 2023-2024 ...

Core Insights - The article discusses the strategic transformation of Three Squirrels as it aims to return to a revenue scale of over 10 billion yuan in 2024, with a focus on full-category and full-channel expansion [2][3] - The CEO, Zhang Liaoyuan, describes 2025 as a "year of rebirth" for the company, emphasizing the need for brands to navigate the challenges of diminishing traffic dividends and intensified competition [2][3] Strategic Transformation - Three Squirrels has submitted an application for a dual listing on the Hong Kong Stock Exchange, marking a shift from an e-commerce model to a "manufacturing-oriented private brand retailer" [3] - The company aims to create a "super supply chain" that integrates manufacturing, branding, and retail, thereby shortening the delivery chain and providing consumers with high-quality and affordable products [3][4] Market Position and Financial Performance - In 2024, Three Squirrels reported a revenue of 10.622 billion yuan, a year-on-year increase of 49.3%, and a net profit of 408 million yuan, up 85.51% [3] - The company anticipates that 2025 will be a pivotal year for many traditional brands, with a shift in competition from price to innovation [4] Channel and Product Expansion - Three Squirrels is expanding its product offerings to include various sub-brands such as pet food, pre-packaged meals, and beverages, with plans to launch 33 sub-brands [7] - The company is also focusing on offline sales, which accounted for 30% of total revenue in 2024, with a significant increase in offline distribution revenue [9][10] Challenges and Opportunities - The company faces challenges in diversifying its product categories while maintaining brand recognition, as consumers may associate the brand primarily with nuts [7][8] - The offline market presents a significant growth opportunity, with Three Squirrels aiming to double its offline distribution by 2025 [9][10] Future Plans - Three Squirrels plans to open 20 new stores for its all-category lifestyle brand by 2025, indicating a shift in its offline store strategy [11] - The company is also exploring partnerships and acquisitions to enhance its market presence and operational efficiency [5][10]

一方面，国家卫生健康委员会表示，将实施"体重管理年"3年行动，普及健康生活方式。慢性病防控已 上升为国家战略，这也推动了食品行业加速向 "轻负担"方向迭代。另一方面，亿滋国际发布的《2024 年全球零食现状报告》显示，在这个健康化趋势明显的时代，还有73%的人"宁愿吃一小份令人愉悦的 零食，也不愿吃一大份低脂/低糖的替代品。" 近日，在接受第一财经记者采访时，荷美尔亚太区总裁顾海江表示："疫情前后的市场环境是完全不同 的。疫情前只要有新亮点，消费者就愿意买单。但是疫情后消费者的要求变高了，不但要有品质、有品 牌，还要有好的价格。所以我认为，疫情以后，更需要拿出更贴近当下消费者的一些新的产品，消费者 才愿意买单。" 在好吃和健康之间找平衡点并不容易。 从基础原料到配方设计，休闲食品行业正与健康理念展开全面较量，特别是后疫情时代，消费者的需求 在不断变化，变得"既要又要"，在想要味蕾满足的同时还能保持健康，因此，当下零食品牌们的生意不 是那么好做。 "要找到中间一个点，且不断地去打磨这个点，然后让消费者能够感受到这个产品的确是比之前其他产 品更健康一点。"顾海江举例，"比如说我们的鸡肉单片午餐肉，此前一般午餐肉基 ...

Core Viewpoint - Fujian Zitian Media Technology Co., Ltd. (Zitian Technology) is facing severe financial and operational issues, including allegations of financial fraud, lack of communication with regulatory bodies, and a complete absence of its executive team, leading to a risk of delisting from the stock market [2][5][8]. Financial Issues - Zitian Technology reported a significant loss of 1.21 billion yuan in its 2023 annual report, contrasting sharply with a profit of 206 million yuan reported in the first three quarters of the same year [6][11]. - The company has been under scrutiny for its financial practices, including the premature recognition of revenue, which inflated its reported income [11]. Regulatory Challenges - The company has been subject to multiple inquiries and warnings from the Shenzhen Stock Exchange and the Fujian Securities Regulatory Bureau due to discrepancies in its financial reporting and lack of timely responses to regulatory questions [7][8]. - Zitian Technology has failed to appoint an auditing firm or submit a rectification report to the Fujian Securities Regulatory Bureau, which could lead to its stock being delisted if not addressed within the stipulated timeframe [5][9]. Operational Status - The company's official website is currently inaccessible, and its office appears to be abandoned, indicating a severe operational breakdown [4][8]. - The executive team has been largely unresponsive, with reports of them avoiding communication with both investors and regulatory authorities [7][9]. Market Performance - Zitian Technology's stock price plummeted approximately 62.60%, from 22.27 yuan per share to 8.33 yuan per share, between January 2 and March 17, 2025 [13]. - The company was once a popular stock in the A-share market, benefiting from trends in internet marketing and gaming, but has since faced a dramatic decline in investor confidence [4][10]. Shareholder Impact - As of the third quarter of 2024, Zitian Technology had approximately 33,000 shareholders, many of whom are now expressing frustration over their inability to exit their investments due to the company's ongoing suspension from trading [14][15].

Core Viewpoint - The company is expanding its product offerings beyond snacks to include personal care and household items, with a focus on high-frequency necessities and a goal to open 20 new stores this year [1][4][9] Product Expansion - The company plans to launch a new brand of sanitary napkins called "她至美" (She is Beautiful), along with 30 other personal care products including wipes, trash bags, and laundry detergent [1][3] - In the beverage sector, the company aims for a sales target of 100 million yuan for its alcoholic beverages this year, introducing three new brands including "呼息" (Breath) and "橘猫" (Orange Cat) [1][4] Sales and Revenue Goals - The company has set ambitious sales targets for various product categories: 250 million yuan for convenience foods, 100 million yuan for personal care products, and 50 million yuan for coffee [4][8] - The company reported a revenue growth of 49.30% year-on-year to 10.623 billion yuan in 2024, with a net profit increase of 24.17% to 408 million yuan [9] Market Strategy - The company is adopting a multi-channel approach, including the opening of a new type of store called "全品类生活馆" (All-Category Lifestyle Store) and expanding its convenience store model [1][9] - The company is focusing on supply chain efficiency and product standardization to enhance its market competitiveness [8] Brand Development - The company is incubating 33 sub-brands, with a strong emphasis on innovation and rapid market entry [4][6] - The founder emphasized the importance of seizing market opportunities and the flexibility of the company's operational structure to support multiple brand launches [6][8]