配售事项之所得款项净额(经扣除配售佣金及配售事项产生之其他相关开支)约为2000万港元。该等资金 拟于2026年12月前按以下用途悉数动用：(i)约50%用于集团现有食品业务；(ii)约30%用于集团现有餐饮 业务；及(iii)20%用于集团之一般运营资金。 格隆汇12月30日丨高地股份(01676.HK)宣布，配售协议所载之所有条件已获达成，且配售事项之完成 (「完成」)已于2025年12月30日落实。合共39,184,000股配售股份(相当于紧随完成后公司经配发及发行 配售股份扩大后已发行股本约15.16%)已根据配售协议之条款，按配售价每股配售股份0.52港元成功配 售予不少于六名承配人。 ...

Core Insights - The dining consumption for New Year's Eve is experiencing a surge, with Haidilao receiving over 400,000 table reservations for December 31 and January 1 as of December 25 [4][14]. Group 1: Reservation Trends - The reservation heat for New Year's Eve dining has started to rise early, with reports indicating that many Haidilao locations are fully booked [3][7]. - Major cities such as Xi'an, Chengdu, Shanghai, Guangzhou, Zhengzhou, Hangzhou, and Wuhan are seeing significant increases in Haidilao's reservation numbers [10][12]. Group 2: Consumer Behavior - Fire pot dining has become a popular choice among young people for New Year's celebrations [6]. - The demand for dining during the New Year period is being driven by various factors, including lower temperatures and multiple festive occasions like Christmas and New Year's Eve [16][19]. Group 3: Innovative Dining Experiences - Haidilao is focusing on creating diverse dining experiences that cater to different consumer needs, moving beyond just a meal to include atmosphere and engagement [29][30]. - Special promotions, such as the "Christmas Tree" and interactive activities, are being used to enhance customer experience and encourage social sharing [31][35]. Group 4: Event and Group Dining - The newly opened Haidilao banquet-style restaurant in Shenzhen is becoming a popular choice for group gatherings, with many companies booking events to celebrate year-end achievements [24][25]. - There is a notable increase in reservations for late-night dining, with a reported growth of approximately 20% compared to the previous year [22].

Consumption - In November 2025, the total retail sales of consumer goods reached 43,898 billion yuan, with a year-on-year growth of 1.3%, down 1.6 percentage points from the previous value of 2.9%[12] - Sales of "two new" products and real estate-related consumption continued to decline, with automotive consumption down 8.3% and home appliances down 19.4% year-on-year[12] - Service retail sales grew by 5.4% year-on-year from January to November, indicating a gradual release of service consumption potential[14] Investment - Fixed asset investment continued to decline, with a year-on-year decrease of 2.6% in November, marking three consecutive months of negative growth[23] - Real estate development investment fell by 31.4% year-on-year in November, a significant increase in the decline compared to the previous month's 23.2%[23] - Equipment purchase investment showed a year-on-year growth of 6.3%, contributing 1.8 percentage points to overall investment growth[24] Trade - In November, exports increased by 5.9% year-on-year, rebounding from a previous decline of 1.1%[32] - Exports to the EU saw a significant recovery with a growth rate of 14.8%, while exports to the US decreased by 28.6%[32] - Imports rose slightly by 1.9% year-on-year, with notable increases in the import of integrated circuits and automatic data processing equipment[34]

Group 1 - The core viewpoint of the article highlights that while China's consumption market shows growth in data, the actual consumer sentiment remains weak, with a significant increase in household savings indicating a preference for saving over spending [1] - In the first eleven months of 2025, the total retail sales of consumer goods increased by approximately 4.0% year-on-year, while per capita disposable income and consumption also rose [1] - Consumer confidence has remained low, with the consumer confidence index fluctuating around 89 points, significantly below the long-term average of 108.77 [1] Group 2 - The home appliance and automotive markets experienced a cumulative growth of nearly 14.8% and 6.1% respectively in the first eleven months of 2025, driven by policies like "trade-in for new" [4] - However, in November, retail sales for these categories dropped by 19.4% and 8.1% year-on-year, indicating a typical consequence of policy stimulus [5][6] - The increase in automotive trade-in applications exceeded 11.2 million vehicles, accounting for over one-third of total sales, suggesting that much of the growth was due to preemptive demand rather than new demand [7] Group 3 - The dining sector has seen a significant shift, with approximately 75% of new takeaway orders priced below 15 yuan, indicating a trend towards cost-saving [9] - The number of high-end restaurants has halved over the past three years, with major cities like Shenzhen and Beijing experiencing reductions of 57% and 47% respectively [9] - Consumers are increasingly skeptical about the value of higher-priced dining options, leading to a preference for more affordable choices [9] Group 4 - The travel market in 2025 saw a 20.6% year-on-year increase in domestic travel, but spending growth was only 15.2%, indicating a trend of more travelers spending less [11][12] - During peak travel periods, such as the National Day holiday, the number of travelers increased by 1.23 million, yet overall spending only grew by 3% [12] - Consumers are becoming more price-sensitive, with airlines and hotels hesitant to raise prices during peak seasons [12] Group 5 - The micro-short drama market is projected to exceed 68 billion yuan in 2025, significantly outpacing the film industry's total box office of 50 billion yuan [16] - The average daily usage time for micro-short dramas reached 120.5 minutes, while movie attendance frequency has declined, with 60% of viewers attending only once a year [17] - The concentration of box office revenue is increasing, with 55% of total box office revenue captured by the top five films in 2025, the highest in a decade [17] Group 6 - In the fast-moving consumer goods sector, prices have been declining, with an average price growth rate of -2.4% in the first three quarters of 2025 [20] - The focus of consumers has shifted from brand loyalty to channel trust, with discount stores and private labels rapidly expanding [21] - Consumers are prioritizing functional utility over brand prestige, leading to a shift in purchasing behavior towards more stable and reliable products [21] Group 7 - Instant retail is experiencing rapid growth, with platforms like Meituan and JD.com emphasizing delivery speed, aiming for delivery within 30 minutes [24] - The instant retail market is projected to reach 1.5 trillion yuan by 2030, with a compound annual growth rate of 18% [24] Group 8 - Gold prices surged by 70% in 2025, significantly outpacing income growth, leading to a decline in gold jewelry consumption by 25% in 2024 and 26% in the first half of 2025 [33] - The demand for gold bars and coins has increased, reflecting a shift towards gold as a safe-haven asset amid geopolitical uncertainties [33] Group 9 - The white wine market is showing signs of fatigue, with inventory turnover days reaching 900 days, indicating a significant slowdown in consumption [36] - Younger consumers are distancing themselves from traditional drinking cultures, preferring craft and low-alcohol beverages that emphasize casual social interactions [37] - In contrast, new consumer products like Labubu are thriving, with a turnover rate of only 83 days, appealing to younger demographics seeking cultural identity [39] Group 10 - The overall consumption landscape in 2025 reflects a shift towards defensive consumption, where consumers prioritize certainty and stability over aspirational spending [40] - The willingness to spend is being weighed against the need for risk management, leading to a more cautious approach to consumption [41]

人民财讯12月30日电，12月30日，记者从公司获悉，呷哺呷哺集团将开拓全新业务条线，推出自选小火 锅品牌"呷哺牧场"，首家门店将于2025年12月31日在上海财富广场开业。据介绍，"呷哺牧场"定位轻奢 型自选小火锅，旨在为年轻人提供高品质与亲民价格兼具的社交火锅体验。春节前还将有两家门店陆续 进驻上海，完成该品牌的初步市场布局。 ...

Core Insights - Guizhou Province is launching a series of consumer promotion activities for 2026, focusing on various sectors including automotive, retail, dining, traditional brands, online goods, cultural tourism, and local liquor [1][3] Group 1: Promotion Activities - The theme for 2026 is "Shopping in China · Colorful Guizhou Happy Shopping," with year-round activities aligned with seasonal characteristics and local resources [3] - Key promotional activities will coincide with major consumption periods such as New Year, Spring Festival, Labor Day, summer, and National Day, utilizing a model of "government funding + financial support + enterprise discounts" [3] - In the first quarter of 2026, there will be subsidies for individuals purchasing new cars within the province, along with consumer vouchers from partnered supermarkets to reduce daily living costs [3][5] Group 2: Consumer Incentives - A "ticket root linkage" promotion will be introduced, allowing out-of-province tourists to enjoy discounts in designated shopping areas and restaurants by presenting tickets from various events [5] - The promotion of local liquor will include quarterly online consumption vouchers that do not require coupons, facilitating nationwide purchases through the "Guizhou Cloud Exhibition" platform [5] - The 15th Wine Expo will feature special consumption vouchers, providing online and offline discounts to expand the market for Guizhou liquor [5] Group 3: Economic Impact - The initiatives aim to enhance consumer confidence and stimulate demand, contributing to the high-quality economic development of Guizhou [5]

Core Viewpoint - The Chinese restaurant chain brand, "Encounter Little Noodles" (2408.HK), experienced a strong surge in stock price, rising 14.12% to HKD 4.85, with a market capitalization of HKD 34.5 billion, following the opening of its 500th store globally and its first store in Singapore, marking the brand's entry into the international market [1] Group 1 - The opening of the first overseas store in Singapore at the popular shopping destination Orchard Road 313@Somerset signifies the brand's official expansion into international markets, promoting Sichuan-Chongqing style Chinese noodles on a global culinary stage [1] - The successful listing on the Hong Kong Stock Exchange on December 5, 2025, has provided capital support and enhanced brand credibility, fueling the company's globalization efforts [1] - As the first Chinese noodle restaurant stock in Hong Kong, "Encounter Little Noodles" is using Singapore as a testing ground to redefine the core logic of Chinese restaurant expansion abroad, shifting the industry focus from "product export" to "system export" [1]

本次跨年迎新季将从即日起持续至明年3月3日，横跨元旦、春节与元宵三大节点。 上海市文化旅游局副局长王志华补充说，他们正在围绕"吃、住、行、游、购、娱、展、演、活动"等文旅全要素，推出一系列丰富供给、加大优惠的新举 措、新产品、新玩法，让市民游客在新年拥有"高质价比""好玩不贵""城乡兼美"的上海文旅新体验。同时，上海各大景区、酒店、旅行社、航空公司也将集 中推出春节专享优惠。 随着新年节日氛围日渐浓郁，上海跨年迎新季拉开帷幕。 ● 体 放 陈怡 在12月30日召开的新闻发布会上，上海市委宣传部副部长黄斌兵表示，本次跨年迎新季将从即日起持续至明年3月3日，横跨元旦、春节与元宵三大节点， 以"我们的节日"马年迎春为叙事主线，由市区两级部门联手推出数百项特色活动，致力于在"浓郁中国年味、全球好货供给、优惠促销价格、最美出片场 景"四个维度上解锁"过年"的新体验。 其中，元旦期间，上海将呈现300余项特色活动，包括文艺演出132场、演唱会13场，以及文博美术展134项；春节长假，将有近400项特色活动，包括文艺演 出120余场、多场演唱会和近60场大展。此外，还有19场全国级以上的体育赛事。 黄斌兵提出，为了实实在在 ...

12月29日，笔者从贵州省商务厅举行的2026年全省重点促消费活动专题吹风会上获悉，铜仁市将紧扣高质量发展 主线，系统谋划全年促消费工作，计划投入超1000万元财政资金，以"游铜仁、促消费、惠民生"为着力点，全面 贯彻国家消费品以旧换新等政策，打造贯穿全年的消费促进系列活动，将政策红利切实转化为群众可感可及的幸 福体验。 铜仁市商务局党组书记、局长肖南。 据铜仁市商务局党组书记、局长肖南介绍，2026年，铜仁市将积极抢抓节庆时令与消费热点，构建"季季有主题、 月月有亮点"的可持续促消费格局。活动将深度结合地方民俗与丰富文旅资源，形成消费与文旅相互促进的良性循 环。 展望全年，铜仁市将围绕"五一"、端午、中秋、国庆等传统佳节，以及"双11""双12"等网络消费节点，持续发 力。特别是将借助与京东集团深化合作的契机，在全市联动骨干企业，策划举办"优惠多多购铜仁"、"铜仁—京 东'宠粉'消费季"等夏季、秋季、冬季系列大型促销。全年计划举办各类促消费活动超100场次，通过政、企、银 多方合力，持续带动汽车、家电、家居、家装、住宿、餐饮等全链条消费提质扩容。 铜仁市此举以千万级真金白银投入为牵引，以一系列贴近民生、富有 ...

Core Viewpoint - Cafe Deco Group, operating restaurants and bakery businesses in Hong Kong and Australia, has filed for an IPO to raise up to $13 million [1] Company Overview - The company plans to issue 1.8 million shares at an offering price range of $6 to $8 per share, aiming for a market valuation of approximately $153 million based on the midpoint of the proposed range [1] - Founded in 1998, Cafe Deco Group operates 45 restaurants in Hong Kong and Sydney, offering a variety of casual dining options under both self-owned and licensed international brands [1] - The company has a vertically integrated business model, including a food processing division, Food Square, which supplies around 400 food service outlets, and a bakery division, Baker & Patissier, serving approximately 350 outlets in Hong Kong and Macau [1] Financial Performance - For the 12 months ending March 31, 2025, the company's revenue is projected to be $108 million [1] - The company has not yet selected a stock exchange or stock code for the IPO [1] Underwriting Details - Kingswood Capital Markets is the sole book-running manager for this transaction [1]