近日，由济南香格里拉与泰王国驻青岛总领事馆、泰王国驻青岛总领事馆商务处及泰国国家旅游局上海办事处联合举办的「泉心美馔·寻味泰国」美食 节，于2025年9月5日晚在济南香格里拉咖啡泉·全日制餐厅盛大启幕。 9月5日晚起至 9月30日，宾客便可于咖啡泉・全日制餐厅沉浸式体验泰国地道美味盛宴，从前菜、小食、热菜、汤品、主菜到甜品，各式经典泰式佳肴一 一奉上。其中，过山虾冬阴功以冬阴功的酸辣为底，融入咖喱的醇厚质感，鲜虾的弹嫩、豆腐的软滑与豆芽的爽脆层次分明，一口便尝尽东南亚的热辣鲜 活；泰国火山猪排精选大块排骨，汤底融入香茅、柠檬叶的独特香气，热辣中带着悠长回甘；泰式咖喱鸡融合了椰奶的醇厚与香料的芬芳，精选鲜嫩鸡 肉，搭配浓郁的咖喱酱汁，令人回味无穷；皮皮岛虾仁青芒果沙拉则是虾仁与青芒果的清爽碰撞，淋上鱼露与柠檬汁调制的泰式酱汁，酸鲜微辣缠绕舌 尖；而餐后的芒果糯米饭更是点睛之笔，香软糯米搭配清甜芒果与椰浆，甜而不腻，尽显热带甜品的独特魅力。此外，更有街头小吃档口提供特色泰式小 食，在口齿方寸间，解锁一段酸、辣、鲜、香的味蕾之旅。 此次美食节特邀客座厨师Peter Yeoh，在济南香格里拉咖啡泉·全日制餐厅匠心演绎 ...

来源：市场资讯 （来源：ETF炼金师） 1. A股市场回顾 上周A股市场整体呈现回调趋势，主要指数普遍下跌。其中，上证综指下跌1.2%，深证成指下滑0.8%。 相对而言，创业板50指数上涨3.4%，而科创50指数则下跌5.4%。在交易面上，A股日均成交额约为2.6 万亿元，较前一周略有下降。市场热点呈现出明显的轮动格局，黄金和CPO等贵金属持续活跃，但后者 波动较大。随后，机器人、固态电池、光伏储能等行业接连受益，而创新药和存储芯片仅在周初表现出 局部强势。建议投资者关注那些政策支撑力度大、技术快速突破的低估值成长板块，特别是受益于新能 源技术和全球需求共振的电池行业。 数据来源：Wind，华安基金，2025年9月1日至2025年9月5日 金融地产行业近期也显现出多重热点。公募基金在上半年显著增持金融股，银行股因其稳健的经营表现 和良好的资产质量而受到青睐，盈利逐渐修复。保险资金继续保持长线投资策略，倾向于能源和基建龙 头，险资系私募的规模扩展至2220亿元。证券行业的经纪业务收入同比增长超过43%，为实体经济直接 融资3.58万亿元。 在电力设备与新能源领域，政策推动深远海风电项目发展，光伏行业通过优化产能 ...

2025.09. 05 "在首场品酒会上，欢迎和东哥'把酒言欢'、分享建议，欢迎现场免费体验茅台酒专业品鉴，免费享受五星级酒店专享定制晚宴。" 据九派新闻，有业内人士分析认为，刘强东此举或在为酒旅业务站台。 据第一财经 此前 报道，6月17日，对于京东进军酒旅餐饮领域，刘强东表示目的是希望通过供应链将这些行业的成本降到20%，降到原来的2/3，能够 为酒店餐饮提供一个新通路。 微信编辑 | 苏小 第一财经持续追踪财经热点。若您掌握公司动态、行业趋势、金融事件等有价值的线索，欢迎提供。 专用邮箱： bianjibu@yicai.com 本文字数：437，阅读时长大约1分钟 来源 | 京东黑板报、 九派新闻、 第一财经 9月5日，京东黑板报发布《这是一封来自东哥的邀请函》。据文中介绍， 9月16日，"品酒会"首场在北京国际饭店举办，届时刘强东将亲临现场，邀请 网友品酒、交朋友。 京东表示： 在2007年，刘强东组织了第一届"网友见面会"。 时隔近20年的今天，换种方式，重启"用户见面会"！ （注：我们会对线索进行核实。您的隐私将严格保密。） 推荐阅读 "国家队"操作路线曝光 11 en review =15 0 ...

Investment Rating - The report assigns an "Overweight" investment rating to the consumer services industry, indicating an expectation that the industry index will outperform the market index by more than 10% over the next six months [34]. Core Views - The consumer services sector has shown a continued upward trend, particularly in the hotel and restaurant segments, likely driven by a recovery in overall market risk appetite. Recent performance reports indicate stabilization in operational metrics for domestic leisure tourism hotels, reflecting an improvement in the economic environment and consumer spending willingness since September 2024. The increase in long-distance travel during the summer season has positively impacted the valuation of the tourism sector [34]. - The total cross-regional passenger flow during the summer transportation period reached 11.697 billion trips, a year-on-year increase of 7%. Among these, road trips accounted for 8.7 billion trips, representing 70% of the total [22][34]. - The report highlights that the overall consumer services industry valuation is expected to continue recovering, supported by enhanced market risk appetite and strengthened policy expectations. Future consumer promotion policies may further boost the sector's outlook [34]. Summary by Sections Market Review - From August 22 to September 4, 2025, the CITIC consumer services industry index rose by 0.89%, underperforming the CSI 300 index by approximately 0.91 percentage points. The increase was primarily driven by strong summer travel data and a recovery in market risk appetite [10][34]. - The tourism and hotel restaurant sectors continued to rise, while the education sector experienced a pullback. The performance of the consumer services sector was mixed, with 34 listed companies achieving positive returns, while 19 companies reported negative returns [11][15][34]. - The overall PE (TTM) for the CITIC consumer services industry was approximately 35.97 times, significantly higher than the previous quarter but still below the average valuation of 46.76 times since 2016 [17][34]. Industry News - Key industry news includes the release of the "2025 Summer Travel Market Report" by Ctrip, indicating that nearly half of domestic travelers opted for long-distance trips during the extended summer period, with a more rational consumption structure emerging [23][34]. - The report also notes that inbound travel orders are experiencing rapid growth, and outbound travel is also showing strong increases, with popular destinations primarily within a three-hour flight radius [23][34]. Company Announcements - The report includes significant announcements from various companies, such as Ctrip's second-quarter net profit of 4.8 billion yuan, reflecting a 16% year-on-year increase in net operating income [24][34]. - Other companies like Zhonggong Education and Shoulu Hotel reported varying financial performances, with some experiencing declines in net profits while others showed growth in revenue [27][28][30][32][33]. Weekly Perspective - The report emphasizes the potential for continued recovery in the consumer services industry, with specific companies recommended for attention, including Jinjiang Hotels, Changbai Mountain, and Emei Mountain A, among others [34][35][37].

证券之星消息，9月5日酒店餐饮板块较上一交易日上涨0.99%，君亭酒店领涨。当日上证指数报收于 3812.51，上涨1.24%。深证成指报收于12590.56，上涨3.89%。酒店餐饮板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 301073 | 君亭酒店 | 26.05 | 2.92% | 17.66万 | 4.43 乙 | | 002306 | *ST云网 | 1.91 | 1.60% | 19.17万 | 3620.88万 | | 600754 | 锦江酒店 | 23.27 | 1.35% | 14.16万 | 3.25亿 | | 605108 | 同庆楼 | 21.50 | 1.22% | 10.53万 | 2.22亿 | | 600258 | 首旅酒店 | 15.23 | 1.06% | 20.38万 | 3.06亿 | | 000428 | 华天酒店 | 3.88 | 1.04% | 72.71万 | 2.76亿 | | 601007 | 金陵饭店 | 8.2 ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [6] Core Views - The company reported a revenue of 1.33 billion yuan for the first half of 2025, representing a year-on-year growth of 4.7%. However, the net profit attributable to shareholders decreased by 11.1% to 70 million yuan [4][12] - In Q2 2025, the company achieved a revenue of 640 million yuan, a year-on-year increase of 10.0%, with a net profit attributable to shareholders of 20 million yuan, up 34.1% [4][12] - The company is experiencing short-term revenue fluctuations due to industry volatility, but it has begun to recover since late July 2025 [13] - The company is accelerating its national expansion, having opened 3 new Furong hotels and 2 Tongqinglou outlets in the first half of 2025, with a total of 11 Furong hotels operational as of August 28, 2025 [14] Financial Performance Summary - For 2025, the company expects revenues of 2.83 billion yuan, 3.43 billion yuan, and 4.12 billion yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 12.2%, 20.9%, and 20.1% [15] - The net profit attributable to shareholders is projected to be 190 million yuan, 316 million yuan, and 438 million yuan for the years 2025, 2026, and 2027, with growth rates of 91.3%, 65.0%, and 38.5% [15] - The company’s EBITDA is expected to reach 1.245 billion yuan in 2025, with a significant increase from previous years [16] Market Position and Strategy - The company is focusing on expanding its market share and brand influence through the rapid opening of new locations, particularly in key cities like Shanghai and Hangzhou [14] - The food business has shown strong performance, with sales of traditional products exceeding 420 million yuan during the Dragon Boat Festival [14]

Group 1 - The Kyrgyz Ministry of Finance predicts an average annual growth rate of 8.1% for the service industry from 2026 to 2030, driven mainly by wholesale retail and hotel catering sectors [1] - The service industry is expected to account for approximately 51% of the GDP [1] - The growth rates for the service industry in 2023 and 2024 are projected to be 8.8% and 9.3%, respectively [1]

Market Overview - The hotel and catering sector increased by 1.15% on September 4, with Tongqinglou leading the gains [1] - The Shanghai Composite Index closed at 3765.88, down 1.25%, while the Shenzhen Component Index closed at 12118.7, down 2.83% [1] Stock Performance - Key stocks in the hotel and catering sector showed varied performance, with Tongqinglou closing at 21.24, up 3.11%, and Quanjude at 12.78, down 0.16% [1] - The trading volume and turnover for major stocks included: - Junting Hotel: 25.31, up 1.61%, with a turnover of 494 million [1] - Huatian Hotel: 3.84, up 1.59%, with a turnover of 316 million [1] - Xianyin Restaurant: 10.30, up 1.38%, with a turnover of 570 million [1] Capital Flow - The hotel and catering sector experienced a net outflow of 86.87 million from institutional investors and 67.67 million from retail investors, while retail investors saw a net inflow of 155 million [1] - Detailed capital flow for selected stocks showed: - Junting Hotel: Institutional net inflow of 16.16 million, retail net inflow of 1.23 million [2] - Huatian Hotel: Institutional net inflow of 11.60 million, retail net outflow of 14.36 million [2] - Quanjude: Institutional net outflow of 38.44 million, retail net inflow of 56.47 million [2]

Core Insights - The Chinese restaurant industry is experiencing a structural transformation characterized by a dichotomy between macroeconomic growth and micro-level challenges, with over 60% of street-side dining merchants reporting a 20% decline in monthly revenue [1][26] - High-end hotels are adopting street food strategies to monetize idle capacity, with examples like the Sofitel Chengdu offering low-cost meals to boost revenue [2][4][7] - The downward pressure on high-end dining is exacerbated by regulatory changes and shifting consumer behavior, leading to significant revenue drops in certain regions [8][10] Group 1: High-End Hotel Strategies - Five-star hotels are facing a 42% drop in wedding orders and a 38% decline in conference revenue, prompting them to sell affordable meals to utilize idle resources [3][4] - The Sofitel Chengdu achieved an average daily revenue of 12,000 yuan from selling low-cost meals, equivalent to the revenue from 30 hotel rooms [4][6] - Other hotels are following suit, with examples of successful low-cost offerings leading to significant daily sales and high profit margins [6][7] Group 2: Mid-Range Dining Adaptations - Mid-range restaurants are adopting similar strategies, with over 60% of them initiating low-cost meal sales to adapt to changing market conditions [7][8] - A restaurant in Nanjing increased its takeout share from 15% to 35% by offering affordable meals during specific hours [7] - However, some mid-range establishments face risks, such as losing their core customer base due to price reductions [7][8] Group 3: Downward Market Dynamics - The introduction of strict regulations has led to a 70% revenue drop in high-end dining in certain regions, while community and specialty brands are experiencing growth [8][10] - The decline in government and business dining has significantly impacted high-end restaurants, with reports of reduced orders and lower spending [8][10] - Community dining is thriving, with new store openings and increased order volumes, indicating a shift in consumer preferences towards affordable and fresh options [10][11][14] Group 4: Delivery Wars and Market Pressures - Major platforms are engaging in aggressive subsidy wars, which have led to increased restaurant revenue but also significant profit compression for many businesses [15][16] - The low-price offerings are causing a decline in dine-in traffic, as consumers wait for discounts before ordering [16][18] - Essential food categories are showing resilience, with some brands reporting growth despite the competitive landscape [18][20] Group 5: Industry Recommendations - Restaurants are advised to focus on cash flow management and community engagement to navigate the current challenges [21][22] - Short-term strategies include monetizing idle resources and establishing cash flow reserves [22][24] - Long-term strategies should focus on differentiation and value innovation, with an emphasis on health-conscious and locally inspired offerings [25][26]

证券之星消息，9月2日酒店餐饮板块较上一交易日下跌0.48%，全 聚 德领跌。当日上证指数报收于 3858.13，下跌0.45%。深证成指报收于12553.84，下跌2.14%。酒店餐饮板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 601007 | 金陵饭店 | 8.22 | 1.86% | 30.41万 | 2.48亿 | | 000428 | 华天酒店 | 3.79 | 1.61% | 42.82万 | 1.61亿 | | 000721 | 西安饮食 | 10.62 | 0.66% | 77.05万 | 261'8 | | 600754 | 锦江酒店 | 23.06 | 0.09% | 13.01万 | 3.00亿 | | 002306 | *ST云网 | 1.87 | -0.53% | 19.97万 | 3729.46万 | | 600258 | 首旅酒店 | 15.19 | -1.04% | 30.19万 | 4.63亿 | | 605108 | 同庆楼 | 21 ...