（来源：千龙网） 2026年元旦佳节将至，为方便市民游客畅享岁末年初的文商旅体盛宴，北京市商务局、文化和旅游局于近日联合发布官方"跨年嗨购电子地图"及"元旦消费 指南"。这张"地图"首次系统整合全市超过30家商场的跨年倒计时活动、50余家重点商场的百项促销信息，以及冰雪、演艺、文博等70余项融合消费新场 景，实现"一图定位、一键导航"。 与此同时，配套的"消费指南"详细解读商圈折扣、美食套餐、活动预约等实用信息，助你精准规划，轻松解锁一个从跨年夜狂欢到假期多维体验的"京彩"新 年。 30余家重点商场同步推出跨年倒计时活动 跨年夜的仪式感，已成为现代城市生活的重要组成部分。今年元旦期间，全市范围内的跨年庆祝活动将更加丰富、分布更广。全市30余家重点商场将同步推 出各具特色的跨年倒计时活动，覆盖东城、西城、朝阳、海淀、丰台、通州、石景山、密云等10余个区，方便市民游客在家门口即可参与，近距离感受璀璨 灯光与热烈的迎新氛围。 其中，一些大型商圈和新兴地标将成为跨年活动的核心聚集地。朝阳蓝色港湾、海淀华熙LIVE·五棵松、丰台宛平城、石景山首钢园、通州湾里国际商业娱 乐综合体、密云古北水镇等地，均已准备特色跨年节目。 ...

Group 1 - The core point of the article is that the Chinese restaurant chain "Yujian Xiaomian" (2408.HK) has opened its 500th store globally and its first store in Singapore, marking a significant step in its international expansion strategy [1] - The new store is located at the trendy commercial landmark Orchard Road 313@Somerset in Singapore, indicating the brand's commitment to establishing a presence in key international markets [1] - The opening of the Singapore store is part of the company's broader strategy to promote Sichuan-Chongqing style noodles on the global culinary stage, enhancing the internationalization of Chinese cuisine [1] Group 2 - Following its successful listing on the Hong Kong Stock Exchange on December 5, 2025, the company is accelerating its expansion efforts in Singapore, with additional locations such as the Tampines Mall store already in preparation [1] - The brand has surpassed 500 global stores, with significant presence in major cities including Beijing, Shanghai, Guangzhou, Shenzhen, Hong Kong, and Singapore [2] - The establishment of the Singapore store is a pivotal moment for the brand, as it aims to inject new vitality into the international development of Chinese dining [1]

国内市场综述 横盘震荡 小幅收涨 周五（12 月 26 日）大盘横盘震荡，小幅收涨。截至 收盘，上证综指收于 3963.68 点，上涨 0.1%；深成指 收于 13603.89 点，上涨 0.54%；科创 50 下跌 0.24%； 创业板指上涨 0.14%，万得全 A 成交额共 21811 亿元， 较前一日有所上升。 行业方面，30 个中信一级行业有 19 个上涨，其中有 色金属、消费者服务及钢铁涨幅较大，而电子、通信 及商贸零售炭则跌幅居前。概念方面，锂电电解液、 高送转及锂矿等指数表现活跃。 海外市场综述 美股三大股指小幅收跌，特斯拉跌超 2% 周五（12 月 26 日），美国三大股指小幅收跌，道指 跌 0.04%，标普 500 指数跌 0.03%，纳指跌 0.09%。麦 当劳、迪士尼跌近 1%，领跌道指。万得美国科技七巨 头指数跌 0.06%，特斯拉跌超 2%，脸书跌 0.64%。中 概股多数上涨，小鹏汽车涨超 6%，叮咚买菜涨逾 5%。 新闻精要 1. 财政工作会议在北京召开 2. 1—11 月份全国规模以上工业企业实现利润总额 66268.6 亿元同比增长 0.1% 3. 国家创业投资引导基金启动 ...

基于在北京市场已验证的成功模式，为回应全国消费者的期待，七鲜小厨正式启动全国经营合伙人招 募。首批招募将聚焦于京津冀、长三角、珠三角三大核心区域，覆盖北京、天津、上海、苏州、杭州、 广州、深圳、佛山、东莞、珠海、中山等重点城市。在该合作模式下，七鲜小厨将提供成熟的供应链体 系、智能厨房设备及统一的食安与运营管理标准；合伙人则主要负责提供场地并承担本地化运营，共同 确保全国门店的品质如一。 12月29日，京东旗下品质餐饮品牌七鲜小厨正式宣布，启动面向全国的经营合伙人招募计划，首批开放 京津冀、长三角、珠三角三大核心区域。目前，七鲜小厨哈尔滨首店已开业，深圳、广州、上海、天津 等多地新店将于2026年1月集中亮相，并计划在同年完成国内所有一二线城市的布局。以高标准食安体 系为支撑、以"民生厨房"为使命的七鲜小厨，正稳步走向更广阔的市场，致力于服务全国更多用户。 长期以来，餐饮外卖市场存在大量低质低价的"幽灵外卖"，导致劣币驱逐良币，食品安全成为核心痛 点。七鲜小厨自面市以来，凭借"新鲜现炒、食材透明、后厨直播"三大核心举措，迅速赢得市场认可。 其10-20元的亲民定价，为消费者提供了更高品质、更具性价比的选择，通 ...

七鲜小厨29日官宣，正式启动全国经营合伙人招募。首批招募将聚焦于京津冀、长三角、珠三角三大核心区域，覆盖北京、天津、上海、苏州、杭州、广 州、深圳、佛山、东莞、珠海、中山等重点城市。在该合作模式下，七鲜小厨将提供成熟的供应链体系、智能厨房设备及统一的食安与运营管理标准；合 伙人则主要负责提供场地并承担本地化运营，共同确保全国门店的品质如一。 12月29日，京东旗下品质餐饮品牌七鲜小厨正式宣布，启动面向全国的经营合伙人招募计划，首批开放京津冀、长三角、珠三角三大核心区域。目前，七 鲜小厨哈尔滨首店已开业，深圳、广州、上海、天津等多地新店将于2026年1月集中亮相，并计划在同年完成国内所有一二线城市的布局。以高标准食安 体系为支撑、以"民生厨房"为使命的七鲜小厨，正稳步走向更广阔的市场，致力于服务全国更多用户。 长期以来，餐饮外卖市场存在大量低质低价的"幽灵外卖"，导致劣币驱逐良币，食品安全成为核心痛点。七鲜小厨自面市以来，凭借"新鲜现炒、食材透 明、后厨直播"三大核心举措，迅速赢得市场认可。 七鲜小厨实现了快速发展，目前已在北京成功开设30家门店，基本覆盖五环内主要区域。 晓风 校对盛媛媛 ...

Core Insights - Increasing number of restaurant brands are betting on "sub-brands" to diversify their offerings and capture more consumer demand [1][4] - Major players like Pizza Hut, Xiaobai Xiaobai, and Haidilao are expanding into new dining categories beyond their core offerings, indicating a shift towards multi-format operations [2][5] Group 1: Company Developments - Pizza Hut has launched a new brand "Pizza Hut Grilled Skewers" in Shanghai, focusing on late-night dining with an average spend of around 70 yuan per person [1] - Xiaobai Xiaobai is preparing to open a new steakhouse, further diversifying its offerings beyond hot pot [2] - Haidilao has introduced multiple sub-brands, including a new "Dapaidang Hot Pot" in Shanghai, aiming to cater to local consumer preferences and expand its market reach [2][5] Group 2: Industry Trends - The restaurant industry is witnessing a trend where leading brands are moving from "single-point breakthroughs" to "multi-format operations" as a response to market saturation and changing consumer demands [2][4] - Consumer preferences are evolving, with dining occasions now segmented into various scenarios such as breakfast, lunch, afternoon tea, late-night snacks, and weekend gatherings [3][4] - The expansion into sub-brands is seen as a necessary strategy for major brands to maintain growth in a maturing market, as vertical growth slows down [6][8] Group 3: Strategic Considerations - Successful implementation of sub-brands is primarily seen among industry leaders due to their robust supply chain and organizational capabilities, which allow them to experiment with new concepts [7] - The existing brand equity of major players provides a competitive advantage in attracting customers to new sub-brands, reducing customer acquisition costs [7] - The diversification into sub-brands serves as a risk mitigation strategy against market fluctuations, allowing brands to spread their operational risks [7][8] Group 4: Future Outlook - The current trend of "full bloom" in restaurant offerings is viewed as a natural evolution in the industry, but success will depend on whether consumers are willing to integrate these new sub-brands into their daily lives [9]

Core Viewpoint - Guosen Securities maintains an "outperform" rating for the chain restaurant sector, highlighting the investment value of strong operational restaurant leaders and innovative tea beverage companies that can ensure stable returns for franchisees despite growth pressures [1] Group 1: Restaurant Consumption Trends - Demand is weakly recovering while supply is clearing, leading to growth strategies from leading companies, with national restaurant revenue increasing by 3.3% year-on-year from January to November 2025, slower than the 4.1% growth in retail [2] - Structural growth in online channels is evident, with significant benefits for milk tea, coffee, and fast food during the 2025 instant retail competition, although brands are becoming more rational about their approach to delivery [2] - Brand building strategies are shifting from creating single-hit products to enhancing supply chain efficiency, with a focus on developing membership systems for private traffic conversion [2] Group 2: Market Performance Review - Leading coffee and tea brands such as Gu Ming, Mixue Group, and Luckin Coffee have seen stock price increases of 185.8%, 45.4%, and 39.2% respectively, driven by increased consumer frequency and high enthusiasm from franchisees [3] - Restaurant leaders show varied stock performance, with strong same-store data and rapid expansion like Guoquan leading to a 98% increase, while others like Guangzhou Restaurant and Green Tea Group saw more moderate increases of 11.8%, 9.2%, and 8.8% [3] Group 3: Sub-industry Analysis and Outlook - The ready-to-drink tea segment is benefiting from the current delivery subsidy war, with seven listed tea leaders seeing revenue and adjusted net profit growth of 32.5% and 58.0% respectively in H1 2025, accelerating from 22.5% and 15.0% in 2024 [4] - In contrast, listed restaurant leaders experienced a revenue increase of only 1.5% in H1 2025, slower than the industry growth of 4.3%, due to factors like price competition and policy disruptions, although net profit grew by 7.5% [4] Group 4: Investment Framework Update - Same-store revenue growth serves as a valuation anchor, reflecting existing store profitability and influencing future expansion [5] - Store expansion rates act as a valuation amplifier, with potential for dual growth in valuation and performance during upward trends [5] - New product development is essential for generating new momentum, requiring supportive incentive systems [5] - Historical premium valuations for leading brands are linked to growth certainty and competitive dynamics [5] - Investment recommendations include Haidilao, Yum China, Guoquan, Gu Ming, Mixue Group, and others, with a positive outlook on Meituan-W in the local service sector [5]

Core Insights - Haidilao has received over 400,000 reservations for the New Year's Eve and New Year's Day dining on December 31 and January 1, 2026, as of December 25 [1][2] - Many locations are showing "waiting list" status for reservations during the peak dining times on these dates [1][2] Group 1 - The winter season has led to an increase in hot pot consumption, with demand for year-end gatherings being particularly strong due to multiple festive occasions such as Christmas, New Year's Eve, and New Year's Day [1][2] - The diverse dining preferences among different consumer groups have contributed to staggered dining times, which may further enhance the total customer volume at the restaurants [1][2]

12月26日，由金融界主办的"启航・2025金融年会"在北京盛大启幕。会上，第十四届金融界"金智奖"年度评选结果重磅揭晓。中华老字号代表企业——全聚 德集团，凭借其在环境、社会与公司治理（ESG）领域的扎实实践与创新成果，荣获"ESG践行卓越案例奖"。这份殊荣不仅是对全聚德将可持续发展理念深 度融入企业战略的高度认可，更标志着传统餐饮企业在新时代高质量发展道路上的转型突破。 "金智奖"作为国内极具公信力与影响力的金融奖项之一，始终秉持"公平、公正、专业"的评审原则，从经营表现、社会责任、绿色发展和公司治理等多角度 进行全面评估。全聚德能在本次评选中脱颖而出，充分彰显了其在ESG道路上的先锋角色与标杆价值。 绿色运营：从"烟火气"到"低碳范" 作为拥有超过160年历史的中华美食文化符号，全聚德近年来在保留传统烤鸭技艺精髓的同时，也积极响应国家"双碳"战略号召，着力推动绿色转型。公司 率先在核心门店引入智能能源管理系统，通过余热回收、高效灶具替换、光伏发电等技术手段，实现单店年均能耗降低18%。其中，北京前门店作为"零碳 餐厅"改造试点，2024年全年减少碳排放超过300吨，并获得北京市绿色餐饮示范单位称号。 在 ...

12月29日，据"京东黑板报"消息，京东旗下餐饮品牌七鲜小厨今日宣布，启动面向全国的经营合伙人招 募计划，首批开放京津冀、长三角、珠三角三大核心区域。目前，七鲜小厨哈尔滨首店已开业，深圳、 广州、上海、天津等多地新店将于2026年1月集中亮相，并计划在同年完成国内所有一二线城市的布 局。 ...