7月18日，广发基金旗下广发成长领航A披露二季报，该基金管理人吴远怡表示，美联储降息周期推动全球流动性改 善，高股息资产(如金融、保险)表现强劲。同时，中国在AI、高端制造、医药创新等领域的技术突破，将持续带来 投资机会。 业绩上，广发成长领航A二季度表现亮眼，基金利润2648.86万元，加权平均基金份额本期利润0.26元。报告期内， 基金净值增长率为20.66%，截至二季度末，基金规模为2.01亿元。上半年该基金收益率达67.72%，在全市场中排名 前列。 | 1 | 09992 | 泡泡玛特 | 97.000 | 23,583,209.39 | 8.45 | | --- | --- | --- | --- | --- | --- | | 2 | 06181 | 老铺黄金 | 19.900 | 18,292,987.44 | 6.55 | | 3 | 600418 | 江淮汽车 | 417.800 | 16,749,602.00 | 6.00 | | 4 | 002940 | 昂利康 | 427.000 | 15,845,970.00 | 5.68 | | 5 | 688084 | 晶品特装 | 149.0 ...

跟着演出来旅行 这个夏天，北京朝阳的文旅消费愈发时尚，当Livehouse里外国乐队演出掀起声浪时，亮马河畔的露天音乐会随波 荡漾，宠物超市里的"毛孩子"正用鼻子挑选零食……这些看似无关的场景，正在共同合力撬动区域文旅消费。 作为国际消费中心城市主承载区，2024年，朝阳区旅游收入达1545.4亿元，居北京市首位。这背后，一批民营企 业通过演艺、旅游、宠物等新业态，成为区域消费升级的"隐形引擎"。近日，"民企显身手 奋进正当时"大型主题 采访活动走进朝阳区，记者探访了其中颇具代表性的民营企业。 演艺票房拉动住宿餐饮等多业态增长 从地铁8号线或10号线北土城站出来，步行大约3分钟，便可到达福浪Livehouse所在园区的西南门，交通便利性正 是福浪Livehouse主理人黄新看重的因素之一，"演出场所如果位置稍微偏一些，我认为对乐迷都不太友好。我们 选择这里，不仅紧靠地铁，而且停车也非常方便，能够满足作为演出场所最基本的要求。" 福浪Livehouse。受访者供图 福浪Livehouse是全新的综合性演出场地，由一大一小两个演出场馆组成，大场馆可容纳1200人、小场馆可容纳 450人，这种大、小场馆结合的配置， ...

Core Insights - The pet economy in China is experiencing significant growth, driven by the changing attitudes of younger consumers who now view pets as family members rather than mere animals [3][5] - The Chinese pet market is projected to exceed 300 billion yuan in 2024, with a year-on-year growth of 7.5%, and is expected to reach 330 billion yuan by 2025 [3] - The animal health market in China ranks second globally and presents substantial growth opportunities, as many needs remain unmet [3][4] Company Insights - Merck, a Fortune 500 company, reported a revenue of $9.3 billion in 2024, providing vaccines, pharmaceuticals, diagnostic products, and professional services for pets and livestock [2] - As of July 16, Merck's market capitalization was approximately $70 billion [2] - Merck has established a research and production base in Suzhou, China, to better meet local demands and strengthen its supply chain [4] Challenges and Opportunities - The global trade environment poses challenges, particularly regarding tariffs, which can increase costs for pet owners and affect the animal health market [4] - Merck is focusing on local production and supply chain strategies to mitigate tariff impacts and has implemented short-term measures like increasing inventory [4][5] - Despite economic uncertainties, pet owners are willing to invest in their pets' health, indicating a resilient market with rising demand for veterinary services and new treatment options [5]

村BA 总决赛 7月11日晚，四川省第三届和美乡村篮球大赛（村BA）总决赛在宜宾市珙县巡场镇三合村拉开序 幕。 罗顺 摄（C视觉） 棍网球 世运会项目 7月12日，"大美阿坝杯"棍网球邀请赛在阿坝州茂县开赛。 何清海 摄（C视觉） 四川将发动超1.6万家品质生活服务商，推出"潮玩逸夏""美味逸夏""舒享逸夏""漫游逸夏""乐购逸夏"五大 主题专项活动，共有115场特色活动 聚焦银发、宠物、低空、潮玩等新业态，利用全省80个消费新场景和重点商圈、步行街，力争形成"一地 办赛、全省消费"格局 成都、绵阳、眉山三城推出票根经济优惠政策，其中餐饮占比超80%。成都共有140余家餐饮企业、10余 家博物馆及景区、20余家酒店参与打折促销 2025年第12届世界运动会（简称成都世运会）进入倒计时。来到四川的观众，除了看比赛，还能耍点啥？ "乐享天府"服务消费季系列活动以清单形式发布，涵盖"潮玩逸夏""美味逸夏""舒享逸夏""漫游逸夏""乐购 逸夏"五大主题专项活动，共有115场特色活动。 7月11日晚，在四川天府新区麓湖WAVE BOX海浪公园，以"魅力服务·活力世运"为主题的"跟着赛事去旅 行"暨"乐享天府"服务消费季 ...

Group 1 - The core viewpoint is that Anqiu City is focusing on the health industry by integrating ecological agriculture resources and extending the industrial chain, achieving high-quality development and significant growth in food processing [1][2] - Anqiu City has established 126 food processing enterprises in the health sector, contributing over 40% to the city's industrial output value, with a year-on-year increase of 19.2% in value added from January to May [1][3] - The city has built 800,000 acres of standardized planting bases, producing over 2 million tons of ecological fruits and vegetables annually, with a focus on organic certification [2][3] Group 2 - Anqiu City is implementing a "chain leader enterprise + industrial cluster" strategy to drive the transformation from an agricultural county to a strong health food city, enhancing product value and processing rates [4] - The city has formed various industry clusters, including processed food, beverages, and functional foods, with 2 provincial manufacturing champions and 17 specialized enterprises [4] - The establishment of a national resistance ginger seedling center is enhancing the quality of ginger production, with a 90% reduction in soil-borne diseases and a 30% increase in ginger oleoresin [5][6] Group 3 - Anqiu City is building a global green brand matrix, with 3 agricultural products receiving ecological origin protection certification and 119 green organic brands in development [6] - The region's brand value has increased by 25%, transitioning from "ecological premium" to "market value" through international certifications and standards [6] - Anqiu is aiming to become the most influential health food city in China by focusing on the "ecology + health" sector and breaking down industrial silos [6]

蓝皮书表示，本市城乡收入差距持续缩小，服务消费稳健增长，作为超大城市的消费市场潜力得到进一 步体现。《北京社会发展报告（2024~2025）》主编、市社科院社会学研究所所长包路芳认为，2024 年，本市消费支出结构显著优化，随着经济、产业形态的变化和人口结构的变动，宠物经济、绿色消 费、银发消费等新型多元消费样态，正逐步满足人群细分要求。 北京还在构建新就业群体友好之城。2024年本市人均可支配收入中，劳动报酬比重持续提高，蓝皮书认 为，这表明就业优先的民生政策得到较好落地。当前，本市就业服务体系不断健全，并在培育新产业、 新业态、新模式过程中，稳定和扩大就业。 2024年，北京高水平推进国际交往中心功能建设，在多个国内外权威排名中取得优异成绩。《北京国际 交往中心发展报告（2024~2025）》认为，这展现了北京堪称典范的城市发展水平，进一步巩固了全球 性城市的地位。在智慧城市建设和城市消费方面，北京也展现出高度的国际化和现代化水平。 北京国际科技创新中心建设也取得了显著成效。在数字经济与实体经济深度融合、加快发展新质生产力 方面，北京进行了丰富的实践探索。同时，中国城市科技金融景气评价指标体系显示，北京位 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report emphasizes the need to break the "involutionary" competition in the agricultural sector, suggesting that high-quality, low-cost leading companies may benefit from this shift [3] - The report highlights the importance of technological innovation and the integration of agricultural resources to create a sustainable ecosystem that empowers farmers and drives continuous innovation [6][7] - The report anticipates that the pig farming market, valued at trillions, will see opportunities for technology-driven enterprises that can navigate the challenges of the industry [6] Summary by Sections Production Capacity - As of May, the national breeding sow inventory was 40.42 million heads, a year-on-year increase of 1.15% and a month-on-month increase of 0.1% [5] - The Ministry of Agriculture and Rural Affairs is focusing on stabilizing pig prices and controlling production capacity among leading enterprises [5] Market Performance - The price of live pigs reached a new high of 15.08 yuan/kg on July 1, attributed to a reduction in supply and the release of previous weight reduction pressures [7] - The white-feathered chicken market is experiencing a contradiction of "high capacity, weak consumption," but overall industry growth is expected to continue [8] Investment Recommendations - The report suggests that leading companies in the seed industry, particularly those with advanced research capabilities, are likely to see sustained performance growth [11] - The pet economy is highlighted as having strong consumer resilience and significant growth potential, with a favorable market structure [10] Industry Trends - The report notes that the agricultural industry is moving towards a model that emphasizes biotechnology, smart equipment, and low-carbon agriculture as key areas for future development [7] - The feed industry is characterized as a service-oriented sector with opportunities and risks, requiring companies to balance scale and flexibility [9]

【导读】 二季度消费主题基金申报数量激增 中国基金报记者 张燕北 二季度，A股、港股消费板块热度飙升，新消费概念强势崛起。基金公司把握行情机会积极布 局，消费主题基金申报数量环比大幅上升。 业内认为，外围不确定性因素加强，使市场交易主线从出口驱动转向内需驱动，伴随提振消 费的政策利好持续落地，消费板块有望迎来基本面业绩和估值的"戴维斯双击"，未来传统和 新兴消费领域都有值得关注的细分投资机会。 从基金类型来看，其中8只为指数基金，5只为混合型基金，还有1只股票型基金和2只QDII基 金。进一步细分来看，其中10只产品聚焦港股消费主题，包括8只指数基金和2只QDII基金； 从名称看，指向"国证港股通消费""恒生消费""港股通恒生消费""港股消费"等方向。 对于基金公司加速布局消费主题基金的现象，华南一位公募人士表示："二季度以来消费板块 尤其新消费赛道多点开花，多家新消费企业涨幅突出。而港股消费板块的亮眼表现不仅折射 出中国消费市场的变迁，更凸显出港股消费板块的独特魅力，引发了机构的一致关注。基于 对板块配置价值的看好和上涨逻辑的认同，基金公司加快了布局步伐。" 另一位业内人士称，消费板块的上涨体现出价值体系的 ...

Core Viewpoint - The A-share market is expected to show a fluctuating upward trend in the second half of 2025, driven by strong domestic economic resilience and relatively low asset valuations, with investment opportunities identified in dividend assets, technological innovation, and consumer sectors [1][2][4][15]. Investment Strategy - Multiple brokerages suggest focusing on three main investment directions for the second half of 2025: dividend assets, technology innovation themes, and large consumer sectors [1][15]. Dividend Assets - Dividend assets include high-dividend financial sectors such as insurance and banking, as well as shipping ports, communication services, and electricity sectors. These assets are attractive due to low valuations and stable dividend returns, particularly in a low-interest-rate environment [16]. - The focus should be on quality cash flow, volatility, and dividend certainty rather than solely on dividend yield, with recommendations for sectors like consumer leaders, public utilities, telecommunications, and banking [16]. Technology Innovation - Key areas of focus include AI computing, AI applications, and embodied intelligence. The first phase of AI market growth is centered around infrastructure, while the second phase will focus on application layers [17]. - AI Agents, which integrate various capabilities, are expected to drive demand for computing power and cloud services, while humanoid robots and advancements in core components are also significant [17]. Large Consumer Sectors - The large consumer sector is highlighted, with particular interest in domestic beauty brands, pet economy, and IP economy. Emerging consumption trends in beauty, pet products, and innovative pharmaceuticals are recommended for investment [18][19].

潮玩IP、新式茶饮、宠物经济 各种主打兴趣、体验、情绪的 新消费浪潮一波接一波 你是那个为爱发电 爽快买单的" 体验派 "？ 还是精打细算 追求极致性价比的" 实用派 "？ 又或者，你已经悄悄布局 成为新消费赛道的"弄潮儿"？ 朋 友们，有没有发现 近年层出不穷的新玩意 总吸引着我们慷慨解囊？ 扫码 或点击 "阅读原文" 提交问卷 分享你的新消费体验与投资观 一起解码未来消费投资的财富密码 福利一 调研福利 扫码回复【长城基金】 锁定《新消费"型"动派》主题系列活动 我们将从中随机抽取 10位 小伙伴 赠送 长城基金软萌可爱招财玩偶 6月24日-6月26日 中国基金报联合长城基金推出 《青年消费力大调研》 你的钱包为谁"心动"？ 你踩中了哪些新风口？ 未来的消费江湖，你看好谁？ 只需几分钟 完成这份匿名问卷 一起描绘真实的新消费投资图谱！ ——"城宝" 福利二 每一位成功提交问卷的小伙伴 均可参与 现金红包 抽奖 ( 现金红包48小时内审核发放 请耐心等待 ) 扫码填问卷 抽红包 ...