随着新年节日氛围日渐浓郁，上海跨年迎新季拉开帷幕。 2026年跨年迎新将以"我们的节日·马年迎春"为主线，通过文旅商体展全面联动，推出数百项特色活 动，全景式呈现城市的节日氛围与活力。 本次"跨年迎新季"将围绕"新年第一游"、"新年第一跑"、"古镇过大年"、"马上有好戏"等八大主题板块 展开。 元旦期间，全市将呈现300余项特色活动，涵盖文艺演出、演唱会及文博美术展览。 同步启动的"跨年迎新消费季"则以"商圈寻马迎春季"、"新春美食季"、"商品换新季"等六大主题为核 心，策划了上百场重点促消费活动。活动将覆盖全市重点商圈、商业街区、重点企业及电商平台。 随后的春节长假期间，活动规模将进一步扩大至近400项，除各类文艺演出外，还将举办19场全国级以 上体育赛事。 此外，上海将继续组织实施国家消费品以旧换新政策，联动品牌商与经销商，同步发布年度新品并提供 叠加折扣，旨在推动以旧换新活动释放新动能。 上海市商务委副主任刘敏在发布会上介绍，元旦春节期间，属地区政府将聚焦陆家嘴、南京西路、南京 东路、徐家汇、五角场等12个重点商圈，投入超过9000万元资金，用于发放商圈零售餐饮消费券，并开 展满减、抽奖等促销活动。 上 ...

2025年，存款利率不断走低，最火的理财方式是什么？近日，蚂蚁财富与小红书联合发起年度理财关键词投票，由2万多名网友票选出了五大关键词：黄金 血脉觉醒、新三金、存款搬家、A股慢牛和AI叙事理财。 "存款搬家到黄金、基金、股市、保险等，是资金在用脚投票，"在线下理财开放麦现场，经济学家、香帅数字经济研究中心创始人香帅表示，当前经济背景 下，资金避险需求凸显，以黄金基金、货币基金、债券基金为代表的"新三金"成为普通人的核心选择，本质是防御型资产组合配置思路的普及。 香帅进一步提到，在稳住基本盘之外，也需要在AI叙事的浪潮中，寻找增长方向。"AI赛道即便存在泡沫，仍是通往未来的'高速列车'，参与逻辑并非追 高，而是要把握优质AI科技股30%以上回调后的'打折窗口'。"香帅说道。 黄金热度贯穿全年 2025年，黄金市场热度贯穿全年，跑步入局的不仅有"妈妈辈"，中青年投资者更是将其视为理财的心头好。 香帅指出，当前经济背景下，资金避险需求凸显，"新三金"的选择，本质是防御型资产组合配置思路的普及，主要为实现流动性、稳健性与收益性的平衡。 其中，货币基金如同"应急钱包"，随取随存，收益远超活期存款，适配年轻人日常开支与突 ...

证券研究报告 | 2025年12月30日 板块复盘：消费者服务板块报告期内上涨 6.28%，跑赢大盘 4.61pct。报告 期内（2025 年 12 月 15 日-2025 年 12 月 28 日），国信社服板块涨幅居前的 股票为中国中免（16.91%）、中教控股（13.76%）、科德教育、凯撒旅业、 首旅酒店、同道猎聘、君亭酒店、天立国际控股、桂林旅游、豆神教育。 行业与公司动态：海南全岛封关运作首周离岛免税购物金额即实现 11 亿 元，同比增长 54.9%，人均消费达 6667 元，同比增长 16%；上海浦东、 虹桥机场及北京首都机场免税店招标结果相继落地，中国中免成功连中 三标。亚朵持续推进产品迭代以提振经营效率，旗下新品"亚朵 3.6" 通过模块化建设实现筹建周期缩短 20%，首批门店 RevPAR 显著优于同商 圈酒店。临近元旦假期，旅游市场升温，2026 年元旦假期国内航线机票 预订量已突破 106 万张，同比增长约 45%；出入境航线预订量超 53 万张， 同比增长 15%。此外，氛围十足且活动丰富的主题乐园成为年轻人跨年 狂欢的又一选择。12 月 27 日至 28 日，东方甄选"看世界"团队赴 ...

Core Insights - The upcoming New Year's holiday is driving a surge in restaurant bookings in Beijing, with many establishments reporting high demand for dining experiences, especially on New Year's Eve [1][2] - Several well-known restaurants and traditional brands are fully booked for their New Year's Eve dinners, indicating a strong consumer interest in festive dining [1][4] Group 1: Restaurant Performance - Beijing's Hu Da restaurant has seen a 5.4% increase in customer traffic compared to last year, with expectations of over 20% growth in customer flow on New Year's Eve [2] - Haidilao has reported that nearly half of its Beijing locations are fully booked for New Year's Eve, with some stores receiving over 100 table reservations [2] - Overall, Haidilao's Beijing area has nearly 6,000 table reservations, showing stable growth compared to the same period last year [2] Group 2: Innovations and New Offerings - Haidilao is enhancing customer experience by increasing staff, preparing sufficient materials, and offering drinks and snacks to waiting customers during peak times [3] - The company is also introducing interactive games and magic performances to create a festive atmosphere [3] - The restaurant chain Xiaobai Xiaobai is focusing on innovation by launching new menu items and seasonal offerings, including a "Nine Grid Brand" upgrade [3][5] Group 3: New Store Openings - Several traditional restaurants, including Quanjude and Donglaishun, have opened new locations to attract younger consumers and tourists, leveraging their proximity to popular attractions [4] - Quanjude's new store features 132 seats and scenic views, while Donglaishun's design incorporates environmental themes to appeal to modern aesthetics [4] Group 4: Prepping for Spring Festival - Many restaurants are already preparing for the Spring Festival, with popular brands like Huguosi Snacks launching their products early [7] - Quanjude has opened reservations for its New Year's Eve dinner, featuring a menu that includes signature dishes from various locations [7] - Several traditional restaurants are set to offer handmade yuanxiao (glutinous rice balls) during the New Year's holiday, indicating an early start to the festive atmosphere [7]

因力挺客户西贝而陷入风波的华与华，又给另一位客户引来了新的争议。 12月27日，华与华创始人华杉发布了两条微博，一条是宣传华与华操盘的蜜雪冰城旗舰店案例，另一条则是回应了华与华设计被指"low"的观点。 图源华杉个人微博 华杉的这个回应不算友好，他将用户对华与华设计的争议均归咎于颜色使用上，并指责认为红色"LOW"，是一种思想的绝症，还引用了孔子的话来证实 自己的观点。 其实，不是华杉的回应，原本并没有多少人讨论蜜雪冰城Low不Low，更多人的注意力聚焦在蜜雪冰城杭州旗舰店上，该旗舰店排队人数众多，场面十分 火爆。 而华杉就在社交平台的用户们津津乐道着杭州旗舰店中产品之全、排队人数之多时，教育起了用户的审美。再加上此前老罗与西贝的骂战中，华杉一些引 发争议的回应本就没给消费者留下好印象，此番其言辞，反而又引来了不少质疑的声音。 实际上，蜜雪冰城的爆火，华与华确实帮了忙。 那首"你爱我，我爱你，蜜雪冰城甜蜜蜜"的洗脑神曲，在当年是蜜雪冰城从一个大众品牌跃升为全民品牌的关键因素。 只不过，一家品牌能够出圈，广告起到的往往是锦上添花的作用，蜜雪冰城能接得住"泼天的富贵"，意味着其不管是在策略、管理还是产品的品质上， ...

| [Table_Title] 【广发批零社服&海外】百胜中国 | | --- | | （09987.HK/YUMC.N）系列深度二 | 穿越周期，向下一个万店进击 [Table_Summary] 核心观点： 盈利预测：（货币单位为美元，汇率采用 1 港元=0.13 美元） | [Table_Finance] | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入（百万元） | 10978 | 11303 | 11652 | 12301 | 13070 | | 增长率 （ % ） | 14.7% | 3.0% | 3.1% | 5.6% | 6.2% | | EBITDA（百万元） | 1559 | 1638 | 1731 | 1861 | 1992 | | 归母净利润（百万元） | 827 | 911 | 921 | 1007 | 1094 | | 增长率 （ ） % | 87.1% | 10.2% | 1.1% | 9.4% | 8.6% | | EPS（元/股） | 2.00 | 2.3 ...

2026年元旦小假期临近，北京市场迎来岁末年初消费热潮。北京商报记者近日粗略统计，北京30余家重点和大型商场推出跨年夜倒计时活动，营业时间有所 延长，大型商圈和新兴地标将成为跨年活动的核心聚集地。 结合跨年夜，商圈、商场与线下实体商家推出系列促消费举措，让跨年夜成为冬季夜经济的"引爆点"。与此同时，不少商家在小长假期间加强场景比拼。随 着跨年夜的临近，北京各商圈的节庆氛围持续升温，多元融合的消费场景叠加促消费活动，将推动元旦消费市场实现"开门红"。 丰富夜经济的同时，北京商场在场景创新上齐发力。北京商报记者走访看到，东方新天地以香港迪士尼乐园的多重20周年限定体验为核心打造多个场景，迪 士尼经典形象米奇、达菲、安娜与雪宝等一系列主题装置亮相，吸引无数消费者打卡。 朝阳大悦城则在岁末年初阶段，引入了梅西沉浸式体验展·亚洲首展、《灵笼》线下主题展·全国首展、STRAY KIDS快闪·华北首展、Sulili初代潮玩·全国首发 等10余场IP首展首发，为跨年注入年轻化、潮流化的节日气氛。 跨年夜带动了北京夜经济的热度，北京多家商场延长营业时间。北京商报记者从超极合生汇获悉，12月31日跨年当天，该商场会在东区穹顶下举 ...

Core Insights - The cross-year consumption trend is on the rise, with new experiences and activities being introduced across various regions, enhancing the sense of ritualistic consumption as the New Year approaches [1][5][10] Group 1: New Consumption Trends - The cross-year consumption scene is evolving, with activities such as fireworks shows, themed markets, and immersive experiences becoming popular [1][5] - In Jilin, the "Cloud Top Palace" snow sculpture, which integrates holographic projection technology, is a highlight, attracting visitors with its immersive storytelling [3][6] - In Shanghai, the International Cruise Tourism Resort is hosting a series of events including music performances and fashion shows, indicating a shift towards more engaging and experiential offerings [5][10] Group 2: Regional Highlights - Jilin Province is promoting winter tourism with a budget of 1 billion yuan in ice and snow consumption vouchers, aiming to stimulate various related sectors [6] - In Shanghai, the Yao Snow Ice World is seeing a significant increase in hotel bookings, with expectations of over 50,000 visitors during the New Year holiday [6][8] - In Hunan, the popularity of artificial snow installations and themed events in shopping malls reflects a growing trend towards creating festive atmospheres [5][10] Group 3: Consumer Preferences - Consumers are increasingly seeking experiences that provide emotional value and personalization, such as themed tea sessions and outdoor concerts [11][13] - The shift from sightseeing to experiential consumption is evident, with a focus on diverse activities and cultural experiences [11][13] - The demand for unique and high-quality experiences is driving innovation in service offerings and infrastructure improvements across the tourism sector [13]

证券研究报告 | 2025年12月30日 社会服务行业双周报（第 121 期） 优于大市 海南封关首周离岛免税销售额高增，东方甄选开启宜昌三峡行 板块复盘：消费者服务板块报告期内上涨 6.28%，跑赢大盘 4.61pct。报告 期内（2025 年 12 月 15 日-2025 年 12 月 28 日），国信社服板块涨幅居前的 股票为中国中免（16.91%）、中教控股（13.76%）、科德教育、凯撒旅业、 首旅酒店、同道猎聘、君亭酒店、天立国际控股、桂林旅游、豆神教育。 行业与公司动态：海南全岛封关运作首周离岛免税购物金额即实现 11 亿 元，同比增长 54.9%，人均消费达 6667 元，同比增长 16%；上海浦东、 虹桥机场及北京首都机场免税店招标结果相继落地，中国中免成功连中 三标。亚朵持续推进产品迭代以提振经营效率，旗下新品"亚朵 3.6" 通过模块化建设实现筹建周期缩短 20%，首批门店 RevPAR 显著优于同商 圈酒店。临近元旦假期，旅游市场升温，2026 年元旦假期国内航线机票 预订量已突破 106 万张，同比增长约 45%；出入境航线预订量超 53 万张， 同比增长 15%。此外，氛围十足且活 ...

Core Insights - The article discusses the evolution of prominent figures in the Chinese business landscape, highlighting a shift from seeking quick profits to valuing deep expertise and innovation in 2025 [2][3][4]. Group 1: Business Evolution - The keyword for 2024 is "breakthrough," indicating a shift in focus from mere sales to creating substantial products [3]. - By 2025, the list of influential figures reflects a new era of "deep cultivators" rather than loud celebrities, emphasizing professionalism across various industries [3][4]. - The societal perception has shifted from valuing traditional authority figures to recognizing expertise and individual efficiency [6][7]. Group 2: Key Figures and Achievements - Liang Wenfeng's DeepSeek achieved a trillion valuation, marking a significant milestone in AI development, and he was recognized as one of the top scientists of the year [4][16]. - Zhang Jianzhong's company, Moer Thread, became the first domestic GPU stock with a market cap exceeding 300 billion, showcasing the potential of full-function GPUs [13][14]. - Chen Tian Shi's Cambrian Technologies reported a revenue of 28.81 billion, a year-on-year increase of 4347.82%, marking a significant turnaround from previous losses [20][22]. Group 3: Market Trends - The focus has shifted from merely competing on price to establishing standards and rules in the market, as seen with companies like Zero Run and their approach to automotive technology [9][10]. - The rise of new consumer brands, such as Lao Pu Gold, indicates a growing trend towards high-end, differentiated products in the luxury market [61][62]. - The new tea brand, Bawang Tea Ji, successfully listed on NASDAQ, reflecting the increasing acceptance of new beverage entrepreneurs in mainstream markets [63][66]. Group 4: Cultural Shifts - The younger generation is moving away from collective ideologies towards valuing individual expertise and practical achievements, as seen in the changing perceptions of business leaders [6][7]. - The narrative of success is now more about personal dedication and craftsmanship rather than grandiose promises, as exemplified by figures like director Jiaozi and his film achievements [49][52].