Retail Developments - HUNTER, a century-old British fashion brand, is set to open its third store in Shanghai at iapm, replacing the former LEVI'S location [1] - TISSOT will return to the Huaihai Road business district, taking over the former TUMI space at iapm [3] - KOI Thé will replace the closed awfully chocolate at iapm, having completed a full collaboration with Sun Hung Kai's Shanghai market project [5] - The LG2 level at iapm will see 阿嬷手作 upgrade its storefront [6] - New clothing brands LESS and upgraded ZUC ZUG Mart have opened next to each other on LG1 [8] New Store Openings - K11 B1 has introduced the adult-themed brand 大人糖, which currently has only one store in Shanghai [10] - "天角制造," the first official store of the IP peripheral brand by Guangzhou Tianwen Kadokawa Animation Co., has opened at 百联ZX创趣场 [12] - The flagship store of SUNRISEPOP is being prepared to move to the 4th floor next to 天闻制造 [14] - The悦荟1层 will introduce the popular brand 野人先生, enhancing customer traffic [15] - The 洛克·外滩源 is hosting the offline debut of designer brand un mute [17] Market Adjustments - Century Plaza's LG2 has welcomed 七鲜, enhancing daily consumer choices alongside MUJI [19] - The POP ARK area on LG1 will add the plush toy brand House Of Hugs, marking its second store [21] - 静安嘉里中心 has seen NEIWAI relocate to the original ICICLE space after introducing POP MART and CASETiFY [22] - A new Japanese independent fragrance brand Aiam will replace THANN in the B1 beauty area [24] - 上生·新所 has opened two new brands: the Chinese Gelato brand 红楼 and the independent fragrance brand 荒核NU WILDS [26] Brand Upgrades and Returns - LOEWE has finally opened after two years of preparation at 兴业太古汇, which is expected to significantly boost the project [37] - FERRAGAMO is returning to its original location at 兴业太古汇 [39] - The LG1 beauty lifestyle area at 兴业太古汇 has added the skincare brand SABON [42] - 静安大悦城's north block will see a major adjustment with the city market collaborating with B&C [46] - 百联又一城 is expanding into outdoor sports brands, with MAMMUT and KOLON SPORT preparing to open [54] Upcoming Openings - 前滩太古里 has welcomed On昂跑 and CAFÉ HOOOLIDAY, marking their first stores in Shanghai [58][60] - PRADA will introduce a fragrance line in the B1 area, continuing its collaboration with L'Oréal [62] - CRISPI, an Italian high-end outdoor footwear brand, is preparing to open its first store in Shanghai at 浦东嘉里城 [65] - CHANEL is expanding its store on the 3rd floor [74]

Core Viewpoint - The Supreme People's Court has released eight typical cases related to campus food safety, highlighting significant issues in food safety management within schools, particularly focusing on a case in Guangzhou where a food service company repeatedly violated safety regulations [1][2]. Group 1: Case Details - A food service company in a Guangzhou school was found to have serious food safety issues, including the use of frozen meat, the presence of paper towels in meals, and frequent insect contamination [1][2]. - The school’s parent committee initiated a meal boycott and the school terminated its contract with the food service company, which was supported by a judicial ruling [1][2]. Group 2: Regulatory Response - The Shanghai Municipal Education Commission has intervened in the controversy surrounding the food supplier, Green捷, and is increasing regulatory oversight of school meal providers [1][2]. - The public is awaiting a response from the involved company regarding complaints about the quality of shrimp served to students [1]. Group 3: Importance of Stakeholder Roles - The role of the school management and parent committees is crucial in addressing food safety issues, as their actions can determine whether problems are resolved or escalate [2][3]. - The judicial system has recognized the importance of parent committees in overseeing food safety, affirming their rights to participate in monitoring [3]. Group 4: Challenges and Solutions - While it may be difficult to ensure that campus meals are always safe, the attitudes of school authorities, parental actions, and judicial support are essential in safeguarding food safety [4]. - There is a need for collaboration among all parties to effectively address the challenges in campus meal governance and eliminate non-compliant suppliers [4].

人民日报记者 王崟欣 本期统筹：蒋雪婕 "十四五"亮点 "十四五"以来，我国企业净增1999.9万户，个体工商户净增3394.6万户。 李雪梅从没来过这里，从一开始，她的证照就委托给石湖荡镇企业服务中心代办，由企业服务中心 综合科的柴顺锋负责。在上海"一网通办"平台，进入"高效办成一件事"专区，选择"开办餐饮店"，用法 人营业执照扫码登录后，根据流程指引，选择经营类目，填写经营面积等信息，再上传店铺布局图，核 对其他基本信息，点击提交，申请便完成了。"全程不到3分钟。"柴顺锋向记者演示。 过去，食品经营许可证办理流程不是这样的。"民以食为天，餐饮开办准入门槛高、流程复杂，材 料尤其多。"柴顺锋经历了这一变化——之前开一家餐饮店，要先办营业执照，完成店铺装修、人员培 训，取得食品安全管理人员的培训合格证，签订废弃油脂收运合同……每个环节都需要纸质材料。"少 一个，流程就走不下去，有时还涉及绿化市容和消防等部门，整个流程常常要近一个月。"柴顺锋说。 2024年，国务院明确"高效办成一件事"相关清单。同年6月，开办餐饮店"一件事"在上海"一网通 办"平台正式上线。 原先需要手动填写的信息变为系统智能生成，申请人只需 ...

Core Viewpoint - The ongoing controversy surrounding the "pre-made dishes" market, particularly involving Luo Yonghao and Xibei, has led to increased attention on Jiumaojiu's strategic moves in this sector, especially with its brand Taier's entry into retail channels like Sam's Club [1][8]. Group 1: Jiumaojiu's Product Launches - Jiumaojiu's Taier brand has introduced pre-made dishes, including its signature sour fish, into Sam's Club, with earlier entries dating back to January 2024 [1]. - The company has launched multiple pre-made products this year, including squirrel fish and lamb chops, indicating a strong push into retail channels [3]. - In addition to these, Jiumaojiu has also introduced a Northwest-style marinated beef dish in April, showcasing its commitment to expanding its product offerings in membership-based supermarkets [3]. Group 2: E-commerce and Brand Performance - Taier has expanded its retail presence on e-commerce platforms, offering a variety of products, which has helped it accumulate nearly 160,000 followers on its Tmall flagship store [7]. - The brand's marketing slogan, "sour cabbage is tastier than fish," has significantly contributed to Jiumaojiu's successful IPO, with the company reaching a peak market value of nearly HKD 55 billion in early 2021 [7]. - Despite the popularity of Taier and other core brands, Jiumaojiu has faced challenges, with a reported revenue decline of 10% year-on-year to CNY 2.753 billion in the first half of the year [7]. Group 3: Financial Performance and Market Position - Jiumaojiu's revenue from product sales, including pre-made dishes, has seen a substantial increase of 140% year-on-year, rising from CNY 54.96 million to CNY 132 million, now accounting for 4.8% of total revenue [7]. - The company has been removed from the Hong Kong Stock Connect list, raising concerns about liquidity and investor confidence amid a backdrop of sluggish dine-in business growth [8]. - The rapid growth of the pre-made dish retail business is viewed as a critical opportunity for Jiumaojiu to transform and adapt to market challenges [8].

Core Viewpoint - The article emphasizes the investment philosophy of Peter Lynch, highlighting the importance of understanding the companies one invests in, maintaining a long-term perspective, and being aware of valuation boundaries and risk-reward ratios [10][12][13]. Group 1: Investment Principles - Lynch advocates for "common-sense investing," where investors should first understand how a company makes money before assessing its stock price [10]. - He stresses the importance of a long-term view, believing that corporate earnings will be higher in ten or twenty years, which is the foundation for market growth [13][72]. - Historical data suggests that the reasonable valuation range for U.S. stocks is between 10 to 20 times earnings, with exceeding 20 times indicating accumulated risks [12][20]. - Lynch emphasizes the risk-reward ratio, suggesting that if an investment is correct, it should yield a return of one to two times the investment, while a wrong investment should only risk a loss of 30% to 40% [13][51]. Group 2: Market Insights - Lynch notes that market corrections are healthy, comparing them to a cleansing process that, while uncomfortable, benefits long-term health [12][23]. - He highlights that during market highs, risks do not disappear, and corporate earnings remain the ultimate support for stock prices [15][24]. - Lynch points out that many companies may be undervalued during market downturns, presenting opportunities for investors to find attractive stocks that are overlooked [25][47]. Group 3: Personal Investment Approach - Lynch encourages investors to focus on companies they understand, rather than chasing complex or trendy sectors [13][58]. - He shares that successful investing often involves researching lesser-known companies that may have strong fundamentals but lack attention from the market [27][59]. - Lynch advises that investors should be diligent in their research, akin to how they would approach purchasing a household item, ensuring they understand the financial health of the companies they invest in [30][61]. Group 4: Future Outlook - Lynch expresses optimism about the long-term growth of the market, asserting that new companies will continue to emerge and thrive [72][73]. - He acknowledges that while economic downturns are inevitable, they do not signal the end of investment opportunities, particularly in emerging markets [75][78]. - Lynch concludes that the focus should remain on identifying companies with solid fundamentals and growth potential, regardless of short-term market fluctuations [51][72].

随后，双方关于"预制菜"的争论风波进一步升级，持续引发热议。 9月15日，西贝官方发布致歉信称，"深刻意识到西贝的生产工艺与顾客的期望有较大差异，没有满足广 大顾客的需求与期待。"西贝方面表示，将尽可能把中央厨房前置加工工艺调整到门店现场加工。10月1 日前，西贝全国门店会陆续完成部分菜品调整。 9月21日，国家市场监督管理总局发布消息称，针对近期社会广泛关注的预制菜相关话题，国务院食安 办高度重视，已组织工业和信息化部、商务部、国家卫生健康委、市场监管总局等部门认真研究，加快 推进预制菜国家标准制定，大力推广餐饮环节使用预制菜明示，更好维护消费者知情权和选择权。 9月21日，南都N视频记者从国家市场监督管理总局获悉，针对近期社会广泛关注的预制菜相关话题， 国务院食安办高度重视，已组织工业和信息化部、商务部、国家卫生健康委、市场监管总局等部门认真 研究，加快推进预制菜国家标准制定，大力推广餐饮环节使用预制菜明示，更好维护消费者知情权和选 择权。 近期，"预制菜"相关话题受到关注。南都此前报道，9月10日，罗永浩公开发布微博称，"好久没吃西贝 了，今天下飞机跟同事吃了一顿，发现几乎全都是预制菜，还那么贵。希望国 ...

Core Insights - The core viewpoint of the articles is that Jiumaojiu Group is facing significant revenue pressure, but its prepared food business, particularly the introduction of its Taier sour fish dish into Sam's Club, may provide a new growth opportunity amidst declining sales in its core brands [2][3]. Financial Performance - Jiumaojiu's revenue for the first half of 2025 was 2.753 billion yuan, a year-on-year decrease of 10.1%, with net profit at 61 million yuan, down 16.05% [2]. - Revenue from the core brands, including Taier, Song Hotpot, and Jiumaojiu (Northwest Cuisine), has declined across the board, with Taier sour fish revenue dropping 13.3% to 1.949 billion yuan, accounting for 70.8% of total revenue [2]. - The number of Taier stores decreased from 612 at the end of June 2024 to 547, with a net closure of 65 stores in six months [2]. Growth in Prepared Food Segment - Revenue from product sales surged from 54.96 million yuan to 132 million yuan, marking a 140% year-on-year increase, and its share of total revenue rose from 1.8% to 4.8% [3]. - The introduction of Taier sour fish prepared dishes in Sam's Club is seen as a strategic move to leverage Sam's distribution advantages and expand its consumer base [3]. Market Challenges - The sour fish market has seen a slowdown in expansion, with a net decrease of 3,164 stores over the past year, despite 6,459 new openings [6]. - Taier sour fish's table turnover rate has dropped from 4.9 times per day in 2019 to 2.2 times per day as of mid-2025, indicating challenges in maintaining customer traffic [6]. - The competitive landscape is intensifying, with prepared food options from competitors like Hema and Sam's Club offering lower prices for similar products [6]. Strategic Initiatives - Jiumaojiu Group is focusing on enhancing the dining experience by promoting fresh ingredients and a comfortable environment, with plans to remodel 150 stores by the end of the year and complete all renovations by 2026 [6].

Core Points - The core issue revolves around the quality and safety of school meals in Shanghai, highlighted by the recent incident where shrimp fried eggs were replaced due to concerns over quality, leading to parental dissatisfaction with the overall meal service [1][2] Group 1: Incident Overview - On September 15, several schools in Shanghai replaced shrimp fried eggs with cookies and bread due to complaints about sand in the shrimp, while parents reported a foul smell [1] - The Shanghai Municipal Education Commission is investigating the incident, with sample testing results expected within a week [1] - Parents have expressed long-standing dissatisfaction with school meals, citing poor quality, excessive fried foods, and inadequate nutrition [1] Group 2: Regulatory Response - The National Market Supervision Administration released the "Guidelines for Campus Catering Service Management" in July, set to take effect on December 1, establishing national standards for school meal services [2] - The guidelines cover various aspects such as personnel configuration, raw material procurement, production, transportation, and recall procedures, aiming to enhance meal quality [2] Group 3: Key Implementation Factors - Transparency is crucial for effective implementation of the new standards, including publicizing daily menus and ingredient information, as well as involving parents in decision-making processes [2][3] - Fairness is emphasized through the promotion of shared meals between teachers and students, ensuring that the quality of meals directly impacts the interests of school staff [3] - Consumer choice is essential, as students and parents should have the ability to influence meal options, which is currently limited in many schools [3]

李雪梅从没来过这里，从一开始，她的证照就委托给石湖荡镇企业服务中心代办，由企业服务中心综合 科的柴顺锋负责。在上海"一网通办"平台，进入"高效办成一件事"专区，选择"开办餐饮店"，用法人营 业执照扫码登录后，根据流程指引，选择经营类目，填写经营面积等信息，再上传店铺布局图，核对其 他基本信息，点击提交，申请便完成了。"全程不到3分钟。"柴顺锋向记者演示。 本期统筹：蒋雪婕 数据来源：国家市场监督管理总局 制图：蔡华伟 "十四五"亮点 "十四五"以来，我国企业净增1999.9万户，个体工商户净增3394.6万户。 上海市松江区石湖荡镇东夏村，一家餐饮店开业了。 浓浓的云南风情，扑鼻的鸡汤香气，中午12点，店内座无虚席，店长李雪梅忙前忙后。在她身后，一张 营业执照和一张食品经营许可证，挂在显眼处。 从7月决定开店，到8月初提交证照申请，同步装修、人员到位，最终拿到食品经营许可证开业，整个过 程比李雪梅预想快得多。"开业日期定得匆忙，就怕证照办不下来，没想到提前10天就拿到了。"李雪梅 说。 更让李雪梅惊讶的是，办证全程自己一趟没跑，只线上提交了一份店铺布局图，证就办好了。效率这么 高，是如何做到的？ 记者来到松江 ...

Group 1 - The State Administration for Market Regulation has announced the acceleration of the formulation of national standards for pre-prepared dishes, emphasizing the importance of consumer rights to information and choice [1] - The State Council's Food Safety Office is actively collaborating with various departments, including the Ministry of Industry and Information Technology, the Ministry of Commerce, and the National Health Commission, to address the public's concerns regarding pre-prepared dishes [1] Group 2 - The founder of Xibei, Jia Guolong, has publicly stated that the restaurant will sue Luo Yonghao for his comments labeling Xibei as a "pre-prepared dish" and plans to launch a "Luo Yonghao menu" [3] - Xibei has acknowledged a significant gap between its production processes and customer expectations, committing to adjust its central kitchen processes to on-site preparation by October 1, 2025 [3]