Core Insights - Following a strong sales performance in April, food store sales in May experienced a decline, indicating a potential shift in consumer behavior [1] - Feedback suggests that customers are reducing their purchases of tobacco and alcohol products [1] - Clothing and home goods retailers reported a slowdown in transactions due to decreased foot traffic [1]

Core Viewpoint - The Xi'an Market Supervision Administration conducted a food safety inspection on 140 batches of edible agricultural products, revealing that 6 batches failed due to pesticide residue exceeding national safety standards [3][4][5]. Summary by Relevant Sections Inspection Results - Out of 140 samples tested, 6 batches were found to be non-compliant with food safety standards, specifically related to pesticide residues [3][4]. - The specific products and their issues include: - Green onions from Ai Wanke Fresh Supermarket contained chlorpyrifos at 0.083 mg/kg, exceeding the limit of 0.02 mg/kg [4]. - Green onions from Cheng Hongjun Fresh Store had azoxystrobin at 1.46 mg/kg, exceeding the limit of 0.5 mg/kg [4]. - Pepper from Laobaixing Fruit Store contained chlorpyrifos at 0.13 mg/kg, exceeding the limit of 0.02 mg/kg [4]. - Pepper from China Resources Vanguard had thiamethoxam at 0.098 mg/kg, exceeding the limit of 0.05 mg/kg [5]. - Bananas from Cheng Haibo Fruit Store contained imidacloprid at 0.14 mg/kg, exceeding the limit of 0.05 mg/kg [5]. - Bananas from Xiaomang Box Fruit Store had both thiamethoxam and thiamethoxam at 0.14 mg/kg, exceeding the limit of 0.02 mg/kg [5]. Actions Taken - The Xi'an Market Supervision Administration has mandated local market supervision departments to take immediate action to control risks, including recalling non-compliant products and investigating illegal activities [4][5].

Summary of Key Points Core Viewpoint The Huizhou Daya Bay Economic and Technological Development Zone Management Committee's Market Supervision Administration has released the results of the second phase (third batch) of food safety supervision sampling for 2025, indicating that out of 73 batches tested, 2 batches were found to be non-compliant. Group 1: Food Safety Supervision - The food safety supervision sampling was conducted according to the provincial and municipal food sampling plans for 2025 [2]. - A total of 73 batches of food products were tested, with 2 batches identified as non-compliant [2]. Group 2: Public Disclosure - The results of the food safety sampling are being made public in accordance with government information disclosure regulations [2].

Summary of Key Points Core Viewpoint - The recent food safety inspection in Xi'an's Lianhu District revealed that out of 126 food samples tested, 122 were compliant with national food safety standards, while 4 samples failed due to pesticide residue exceeding permissible limits [3][4]. Group 1: Inspection Results - A total of 19 categories of food were sampled, including biscuits, restaurant food, tea products, nuts, starch products, condiments, convenience foods, pastries, canned goods, alcoholic beverages, frozen drinks, grain products, dairy products, sugar, edible oils, root vegetables, puffed foods, fruit products, and beverages [3]. - The breakdown of the inspection results showed that 122 samples passed, while 4 samples were found non-compliant [3][4]. Group 2: Non-Compliant Products - The non-compliant products included: 1. Bananas from Guole Source Convenience Store, with pesticide residue (pyriproxyfen) at 0.080 mg/kg, exceeding the limit of 0.05 mg/kg [5][6]. 2. Yam from Guole Source Convenience Store, with pesticide residue (mefenoxam and mefenoxam manganese salt) at 6.84 mg/kg, exceeding the limit of 0.3 mg/kg [5][6]. 3. Green peppers from Shixiang Convenience Store, with pesticide residue (thiamethoxam) at 0.095 mg/kg, exceeding the limit of 0.05 mg/kg [5][6]. 4. Yellow bean sprouts from Shixiang Convenience Store, with pesticide residue (6-benzyladenine) at 30.9 μg/kg, which is not allowed [5][6]. Group 3: Compliance Overview - The majority of food categories tested were compliant, including biscuits, restaurant food, tea products, nuts, starch products, condiments, convenience foods, pastries, canned goods, alcoholic beverages, frozen drinks, grain products, dairy products, sugar, edible oils, and beverages [3][4]. - Specifically, 65 out of 69 edible agricultural products passed the inspection, with only 4 failing due to pesticide residue issues [3].

Summary of Food Safety Inspection in Hebi City - The Hebi City Market Supervision Administration conducted a food safety inspection, revealing that out of 182 batches tested, 175 were compliant while 7 were found to be non-compliant [2][3]. Non-Compliant Products - The non-compliant products included: 1. Ginger from Yucheng Supermarket, with a pesticide residue of 0.54 mg/kg for chlorpyrifos, exceeding the limit of 0.2 mg/kg [3]. 2. Leeks from Four Sisters Vegetable Wholesale, with a pesticide residue of 1.36 mg/kg for chlorfluazuron, exceeding the limit of 0.5 mg/kg [3]. 3. Ginger from Four Sisters Vegetable Wholesale, with residues of 0.79 mg/kg for chlorpyrifos and 0.065 mg/kg for dichlorvos, both exceeding their respective limits [3]. 4. Ginger from Henan Jia Tian Xia Trading Company, with a residue of 1.0 mg/kg for chlorpyrifos, exceeding the limit of 0.2 mg/kg [3]. 5. Rice noodles from Zhaoning Hand-Pulled Noodles, with a non-compliant level of sorbic acid at 0.145 g/kg, which is prohibited [3]. 6. Pork head meat from Wenzhou Delicacies, with a nitrite level of 17 mg/kg, which is not allowed [3]. 7. Ginger from Zhao Aimin Vegetable Seasoning Store, with residues of 1.7 mg/kg for chlorpyrifos and 0.065 mg/kg for dichlorvos, both exceeding their respective limits [3][4]. Consumer Advisory - The Hebi City Market Supervision Administration has urged consumers to remain vigilant regarding food safety and to report any issues by calling the complaint hotline "12315" [2].

Real Estate Industry - The real estate market is expected to stabilize gradually, divided into three phases: housing transaction volume, housing prices, and real estate investment [3] - The core point for entering a positive cycle is the upward shift in housing price expectations due to changes in supply and demand structure, which should be a key signal for market observation [3] - Policy measures need to be more decisive to facilitate stabilization, focusing on adjusting supply and demand structures and mitigating risks from enterprises [3] - The probability of a "medium policy" scenario for the real estate fundamentals in 2025 is high, with sales performance potentially exceeding expectations due to the prolonged effects of the 926 policy [3] - A recovery in total housing sales to historically reasonable levels could lead to significant upward potential, with new housing transaction volumes likely to see greater recovery [3] Strategy - The A-share market has shown signs of improvement in early 2025, but external uncertainties are rising, impacting market dynamics [8] - The expected market rhythm for the second half of 2025 is "steady first, then rise," with upward potential dependent on comprehensive policy support [9] - Investment focus should be on certainty in uncertain environments, including opportunities from capacity cycles, high-growth sectors with low correlation to economic cycles, and dividend-paying sectors [9] Macroeconomy - The GDP growth rate has improved while prices remain weak, indicating a widening demand gap due to restrained policy measures [18] - The real estate sector's drag on the economy is expected to continue narrowing, contributing to a "quasi-balance" recovery [18] - The core CPI inflation is anticipated to improve slightly in the second half of the year, but overall inflation is expected to remain weak [18] New Consumption Trends - Despite overall consumption being insufficient, new consumption trends are emerging, characterized by a shift towards quality and rational spending [23] - The Z generation is becoming a key driver of the new consumption wave, indicating a shift in consumer behavior [23] - The potential for consumption in lower-tier cities is increasing as the drag from real estate weakens [23]

Core Viewpoint - The transformation of the "Dajixiang" area in Beijing's southern region has revitalized the neighborhood, making it a trendy destination that blends historical and modern elements, attracting both locals and tourists [1][4][8]. Group 1: Transformation of Dajixiang - Dajixiang has undergone significant renovations, becoming a commercial and cultural hub that retains its historical architecture while introducing modern shops and cafes [8][9]. - The design of Dajixiang features a three-tiered circular sunken layout, reminiscent of the popular Sanlitun "Taikoo Li," leading to its nickname "Nali Tun" or "Cai Gu Li" [8][9]. - The area has historical significance, dating back to the Yuan Dynasty, and has been reimagined to combine commerce with cultural heritage [8][9]. Group 2: Historical Context of Nancheng - Nancheng, historically viewed as an underappreciated area, has a rich cultural background, having been a bustling commercial center since the Ming Dynasty [4][6]. - The region's historical narrative includes its evolution from a "common people's city" to a more vibrant urban space, reflecting the socio-political changes over centuries [4][6]. - The revitalization of Dajixiang is seen as a turning point for Nancheng, challenging the perception of it being less fashionable compared to other parts of Beijing [4][6]. Group 3: City Walk Experience - The "Cai Shikou City Walk" offers a comprehensive exploration of the area, highlighting historical sites, local culture, and modern amenities [12][18]. - Key attractions include the historical significance of Cai Shikou, which was once a major vegetable market and execution site, now transformed into a lively community space [14][15]. - The walk includes visits to various neighborhoods, such as the Law Source Temple and Niujie, known for its rich cultural heritage and culinary offerings [16][17].

Core Viewpoint - The report from the Sheyang County Market Supervision Administration details the results of food safety inspections, highlighting several instances of non-compliance with safety standards in various food products [2] Group 1: Non-compliance Cases - A total of 10 food products were found to be non-compliant during inspections, with specific violations related to pesticide residues and other harmful substances [2] - For instance, yam from a local store contained 0.870 mg/kg of a harmful substance, exceeding the standard limit of 0.3 mg/kg [2] - Ginger samples showed a residue of 0.39 mg/kg of a pesticide, surpassing the acceptable level of 0.2 mg/kg [2] Group 2: Actions Taken - The authorities have taken measures such as fines and confiscation of non-compliant products, including a fine for a store selling ginger with pesticide levels above the standard [2] - In cases where the products were deemed unsafe, such as white peony with a residue of 1.20 g/kg, the products were confiscated and fines were imposed [2] - The report indicates that some businesses received warnings and penalties for repeated violations, emphasizing the enforcement of food safety regulations [2]

每经记者｜舒冬妮 每经编辑｜陈俊杰 ｜ 2025年6月10日 星期二 ｜ NO.1 潮宏基：拟发行H股股票并在香港联交所上市 潮宏基公告，公司于2025年6月9日召开第七届董事会第三次会议，审议通过了拟发行H股股票并在香港 联合交易所上市的相关议案。公司表示，此举旨在推进全球化战略布局，提升国际品牌形象及综合竞争 力，加强与境外资本市场对接。目前，公司正积极与相关中介机构就本次发行并上市的相关工作进行商 讨，具体细节尚未最终确定。本次发行并上市尚需提交公司股东会审议，并需取得相关政府机构、监管 机构备案、批准和/或核准。 NO.3 布鲁可、古茗等新消费牛股被调入港股通 沪深交易所发布公告称，因恒生综合中型股指数实施成份股调整，根据有关规定，港股通标的证券名单 发生调整，布鲁可、古茗、蜜雪集团被调入，自6月9日起生效。截至6月9日收盘，布鲁可涨22.34%， 总市值为481.8亿港元。蜜雪集团涨5.41%，总市值为2146.7亿港元。古茗涨4.34%，总市值为657.57亿港 元。 点评：随着潮宏基不断优化产品和服务，其品牌影响力有望进一步扩大，为股东创造更多价值。对于投 资者而言，潮宏基拟在港股市场上市为投资 ...

Core Insights - The retail prices of 55 major consumer goods in Linyi City, Shandong Province, showed 14 increases, 29 stable, and 12 decreases compared to the previous week, indicating a stable and orderly market operation with sufficient supply of consumer goods [1] Group 1: Grain and Oil Prices - The prices of 20 monitored grain and oil products remained stable with no changes from the previous week, including japonica rice and millet priced at 2.75 yuan and 5.97 yuan per jin respectively [2] Group 2: Egg Prices - Among 8 monitored poultry and egg products, 3 prices increased, 3 decreased, and 2 remained stable. The prices for deboned hind leg meat, ribs, and beef were 13.85 yuan, 21.81 yuan, and 32.85 yuan per jin, reflecting increases of 3.49%, 0.19%, and 0.74% respectively. Meanwhile, prices for pork belly, lamb, and eggs were 15.04 yuan, 40.00 yuan, and 3.52 yuan per jin, showing decreases of 1.64%, 0.93%, and 1.40% respectively [3] Group 3: Vegetable Prices - The prices of 17 monitored vegetable varieties showed mixed results with 8 increases, 1 stable, and 8 decreases. Notable price increases were seen in celery, potatoes, and ginger, priced at 1.95 yuan, 1.41 yuan, and 6.45 yuan per jin, with increases of 8.18%, 3.62%, and 2.52% respectively. Conversely, tomatoes, cucumbers, and carrots experienced price declines of 11.80%, 8.76%, and 6.11% respectively, with prices at 2.26 yuan, 1.82 yuan, and 1.99 yuan per jin [4] Group 4: Fruit Prices - Among 5 monitored fruits, 3 prices increased, 1 remained stable, and 1 decreased. The prices for apples, bananas, and oranges were 5.35 yuan, 3.34 yuan, and 4.57 yuan per jin, reflecting increases of 0.94%, 0.25%, and 0.49% respectively. Watermelon saw a price decrease to 1.58 yuan per jin, down by 1.04% [5]