为加快服务业与制造业深度融合，促进生产性服务业高质量发展，金坛区组织多家生产制造业与物流运 输企业代表参加市级"融合创新.降本增效"两业融合物流专场、"融合创新.信用护航"两业融合信用专场 活动。在活动中，企业之间充分交流了物流需求和服务能力，探索了物流合作新模式，提高了供应链效 率。金坛区同期还举办了"赋能链主企业，服务新能源产业链"的对接沙龙，为新能源产业的高质量发展 提供了有力的服务支撑。 在激发企业创新创造活力方面，金坛区积极响应市级政策，根据《关于组织申报2025年常州市现代服务 业典型创新场景的通知》文件精神，深入挖掘区内企业的创新潜力，遴选了低空应用服务、数智赋能服 务、人力资源服务等5个优质场景进行申报。这些创新场景涵盖了不同的服务领域，具有较强的创新性 和示范引领作用，有望通过市级认定，获得更多的政策支持和发展机遇，更好地发挥现代服务业对推动 经济回升向好的支撑作用。 展望未来，随着各项政策的持续发力、重点项目的不断推进以及产业融合的进一步深化，金坛区服务业 有望持续保持良好的发展态势，在规模、质量、效益上实现新的突破，为区域经济的进一步增长贡献更 多力量，书写服务业发展的崭新篇章。常服宣 ...

Group 1 - The stock price of Core International as of August 11, 2025, closed at 33.94 yuan, down by 0.63 yuan, representing a decline of 1.82% from the previous trading day [1] - The opening price on the same day was 34.80 yuan, with a maximum of 34.80 yuan and a minimum of 33.50 yuan, resulting in an intraday fluctuation of 3.76% [1] - The trading volume was 99,231 hands, with a total transaction amount of 337 million yuan [1] Group 2 - Core International operates in the professional services industry, primarily focusing on human resources services and recruitment process outsourcing [1] - The company is registered in Beijing and is one of the stocks eligible for the Shenzhen Stock Connect [1] Group 3 - On August 11, the net outflow of main funds was 19.1571 million yuan, accounting for 0.29% of the circulating market value [1] - Over the past five trading days, the cumulative net outflow was 11.5724 million yuan, representing 0.17% of the circulating market value [1]

Group 1 - The establishment of "Blue Collar Home Human Resources (Huai'an) Co., Ltd." has been registered with a capital of 2 million RMB [1] - The legal representative of the company is Fu Tingyu, and it is wholly owned by Huai'an Liufang Human Resources Co., Ltd. [1] - The business scope includes human resource services (excluding employment agency activities and labor dispatch services), labor services, salary management services, business agency services, sales agency, production line management services, enterprise management, project management services, unit logistics management services, property management, daily life services for residents, consulting and planning services, and exclusive insurance agency business within the authorized scope of insurance companies [1] Group 2 - The company is classified under the national standard industry of leasing and business services, specifically in the comprehensive management services sector [1] - The registered address is located at Building 813, No. 3, Guanlan Duhui, Huai'an Economic and Technological Development Zone, Jiangsu Province [1] - The company is categorized as a limited liability company (wholly owned by a natural person) with an operating period until July 30, 2025, with no fixed term thereafter [1]

Company Overview - Aiquel (Shanghai) Human Resources Co., Ltd. has been established with a registered capital of 2 million RMB [1] - The legal representative of the company is Fu Zhongsheng, and it is wholly owned by Shanghai Fuyingcai Enterprise Management Co., Ltd. [1] Business Scope - The company’s business scope includes labor dispatch services, call center services, residential interior decoration, and construction labor subcontracting [1] - Other services offered include human resources services (excluding employment agency activities), enterprise management, consulting, software development, technical services, and event management [1] - The company is also involved in sales of daily necessities, office supplies, labor protection products, and various other goods [1] Corporate Structure - Aiquel (Shanghai) Human Resources Co., Ltd. is classified as a limited liability company with natural person investment or control [1] - The company is registered under the business category of leasing and business services, specifically in the comprehensive management services sector [1] - The business registration is valid until July 22, 2025, with no fixed expiration date [1]

Group 1 - The establishment of Guo Xin Pin Labor Dispatch (Shanghai) Co., Ltd. has been registered with a capital of 2 million RMB, fully owned by Shanghai Hao Di Fang Supply Chain Co., Ltd. [1][2] - The legal representative of the new company is Liu Wangwang, and it is classified under the rental and business services industry, specifically in comprehensive management services [2] - The business scope includes labor dispatch services, human resources services, and various consulting and sales activities, indicating a broad range of operational capabilities [2]

Group 1 - The report emphasizes that service consumption has become a core strategy for expanding domestic demand in 2025, with significant potential for growth in China compared to developed economies like the US and Japan [4][8][28] - The report highlights that China's per capita GDP has surpassed $10,000, marking a critical window for the rapid development of service consumption, particularly in entertainment and leisure sectors [4][30][32] - Key measures to boost service consumption include increasing residents' income, enhancing leisure time, and encouraging high-quality service supply [4][8][28] Group 2 - The tea beverage industry is identified as having substantial growth potential, with a rational increase in store numbers and a shift towards emotional value for consumers, particularly among younger demographics [9] - The restaurant industry is expected to see steady growth, with a focus on government subsidies and an increase in chain operations, indicating a structural differentiation between mass and high-end markets [10] - Meituan is noted for its strategic investments in ecosystem development, maintaining a competitive edge despite short-term market fluctuations [11] Group 3 - The education sector is experiencing a concentration of market share among high-quality institutions, driven by regulatory changes and a persistent demand for K12 education [12] - The human resources industry is undergoing structural recovery, with a focus on AI applications to enhance efficiency and reduce costs [13] - The tourism sector is benefiting from policy-driven support and accelerated industry consolidation, with a notable increase in domestic travel demand [14] Group 4 - The hotel industry is facing a slowdown in supply growth, with leading hotel groups adjusting their operations to maintain competitive performance [14] - The duty-free sector is showing signs of recovery, with a stabilization in average transaction values and a narrowing decline in sales, supported by product diversification and new channel expansions [15]

Company Overview - Recently, Hu Bo You Cai (Shanghai) Human Resources Co., Ltd. was established with a registered capital of 2 million RMB [1] - The legal representative of the company is Chen Xu, and it is wholly owned by Shanghai Changlian Sheng Network Technology Co., Ltd. [1] Business Scope - The company’s business scope includes human resources services (excluding employment agency activities and labor dispatch services), enterprise management, handling and transportation, furniture installation and maintenance services, marketing planning, housekeeping services, cultural and artistic exchange activities, conference and exhibition services, etiquette services, information consulting services (excluding licensed information consulting services), general cargo warehousing services (excluding hazardous chemicals), supply chain management services, technical services, and more [1] - The company is classified under the rental and business services industry, specifically in the comprehensive management services sector [1] Registration Details - The company is registered in Baoshan District, Shanghai, with a business address at 188 Changyi Road, Building 1, 10th Floor [1] - The business license is valid until June 19, 2025, with no fixed term thereafter [1] - The company is categorized as a limited liability company (wholly owned by a natural person) [1]

Core Insights - The article discusses the entrepreneurial journey of a woman who transitioned from a stable teaching job in China to starting a business in Africa, specifically in Tanzania and later in Rwanda, highlighting the challenges and opportunities in the African market [2][50]. Group 1: Market Opportunities and Challenges - Tanzania is identified as a rapidly growing economy in East Africa, with a GDP growth rate of around 5% over the past five years, presenting a potential market for new businesses [11]. - The clothing market in Tanzania is saturated with low-end products, primarily imported from countries like Turkey, UAE, and China, leading to a perception of Chinese goods as cheap and low quality [8][9]. - There is a gap in the mid to high-end clothing market, as local affluent consumers prefer stylish and quality clothing, often purchasing from abroad due to a lack of suitable local options [10][12]. Group 2: Business Strategy and Execution - The initial business focus was on clothing retail and wholesale, with efforts to expand into bedding and toys, but these expansions faced significant challenges due to a lack of market research and understanding of local consumer preferences [4][25]. - The team attempted to leverage social media platforms like TikTok and Instagram for live selling but faced obstacles due to insufficient preparation and local customs [16][17][19]. - Ground marketing efforts, such as a promotional event at a wedding, failed due to a lack of understanding of local customs and consumer behavior [20][21]. Group 3: Lessons Learned and Future Plans - The experience in Tanzania led to a strategic pivot towards Rwanda, focusing on higher value-added services in finance, software, and human resources, with an emphasis on training and formal management practices [48][52]. - The team aims to establish a successful business model in Rwanda before expanding to other African countries, emphasizing the importance of local partnerships and thorough market research [51][53].

Key Points - The report emphasizes an overweight rating for the consumer services sector, highlighting a new phase of travel transformation driven by high demand for themed tourism [1][5] - The consumer services index has shown stability with a slight decline of 3.43% as of June 13, 2025, underperforming the CSI 300 index [7][16] - The report suggests that the consumer services industry is experiencing a trend of increasing volume but decreasing prices, leading to greater pressure on corporate profitability and necessitating transformation [7][68] Sector Investment Strategy Consumer Services Sector Overview - The consumer services index has been relatively stable since the beginning of 2025, with a recent underperformance compared to the CSI 300 index [16][17] - The tourism and hospitality sectors have weakened due to declining per capita travel spending [7][16] Tourism and OTA - Domestic travel demand has rebounded significantly, with 1.794 billion domestic trips in Q1 2025, a year-on-year increase of 26.43% [25] - The average travel expenditure per person in Q1 2025 was 1,003.34 yuan, indicating a decline from previous trends due to the rapid increase in travel frequency [25][26] - The report anticipates that the demand for self-driving and short-distance travel will continue to rise, with a focus on experiential tourism rather than traditional sightseeing [25][69] Duty-Free Sector - The duty-free market in Hainan has seen a decline in sales, but the rate of decline is narrowing, with sales of 13.33 billion yuan in the first four months of 2025, down 10.75% year-on-year [32][33] - The report notes that the average spending per customer in Hainan's duty-free shopping has rebounded, reaching 8,319 yuan, a 25.11% increase compared to the previous year [33] - The international travel market is recovering, benefiting airport duty-free shops, with significant growth in international passenger traffic at major airports [37][38] Hotel Sector - The hotel industry is facing increased competition due to rapid supply growth, with the number of hotel facilities reaching 570,100 by the end of 2024, a 6.87% decrease year-on-year [42][44] - The report highlights that leading hotel groups are maintaining strong performance despite price competition primarily affecting budget hotels [42][51] - The expansion of chain hotels in lower-tier markets is expected to continue, with major hotel groups increasing their market presence [54][55] Human Resources Services - The report indicates a slight increase in employment pressure, particularly among recent graduates, with policies aimed at promoting employment expected to be introduced [57][61] - The human resources service market is projected to grow, with a market size of 2.76 trillion yuan in 2023, expected to reach 5.03 trillion yuan by 2028 [65][66] - The integration of AI in human resources services is anticipated to enhance efficiency in recruitment and management processes [66][67] Investment Recommendations - The report recommends focusing on sectors with strong demand, such as scenic spots and OTA, as well as the hotel sector, which is expected to expand despite competitive pressures [68][69] - Specific stocks to watch include Long White Mountain (603099), Emei Mountain A (000888), and China Duty Free (601888) [69]

Investment Rating - The report maintains an "Overweight" rating for the consumer services industry, indicating a positive outlook despite current challenges [1]. Core Insights - The consumer services industry is experiencing a slowdown in overall revenue growth, with total revenue reaching 237.785 billion yuan in 2024, a year-on-year increase of 1.9%. In the first quarter of 2025, revenue was 59.904 billion yuan, showing a minimal growth of 0.07% [4][11]. - The net profit for the industry is under pressure, with a significant decline of 23.24% year-on-year to 9.642 billion yuan in 2024, and a 7.1% decrease to 3.534 billion yuan in the first quarter of 2025. This is attributed to increased price sensitivity among domestic tourists [4][11]. - The report highlights that most sub-sectors within the consumer services industry are experiencing revenue growth without corresponding profit increases, particularly in the scenic spots and human resources service sectors [4][14]. Summary by Sections 1. Overall Industry Performance - The consumer services industry is seeing a stabilization in service consumption revenue, with a notable slowdown in growth compared to the explosive rebound in 2023. The overall revenue for 2024 is projected at 237.785 billion yuan, with a slight increase in the first quarter of 2025 [11][14]. - The report notes that tourists are becoming more price-sensitive, leading to a decline in net profits for tourism-related companies [11][14]. 2. Key Sub-Industry Performance 2.1 Scenic Spots - The scenic spots sector achieved a revenue of 22.866 billion yuan in 2024, a growth of 3.34%, with a net profit of 1.808 billion yuan, up 26.27% [15][24]. - In the first quarter of 2025, revenue was 4.792 billion yuan, a growth of 3.65%, but net profit decreased by 13.06% to 0.356 billion yuan [17][30]. 2.2 Education - The education sector's revenue reached 34.106 billion yuan in 2024, growing by 5.61%, while net profit was 0.843 billion yuan, down 20.68% [36][40]. - In the first quarter of 2025, revenue increased to 7.935 billion yuan, a growth of 8.65%, with net profit at 0.346 billion yuan, down 7.93% [36][42]. 2.3 Hotels - The hotel sector reported total revenue of 24.964 billion yuan in 2024, a decrease of 2.09%, with net profit at 1.595 billion yuan, down 9.76% [46][48]. - In the first quarter of 2025, hotel revenue was 5.435 billion yuan, a decline of 8.09%, and net profit fell to 0.125 billion yuan, down 54.87% [46][55]. 3. Investment Strategy - The report suggests that while profits are under pressure due to macroeconomic factors, the gradual recovery of the domestic economy post-September 2024 may boost demand. It recommends focusing on sectors like education and human resources services that are likely to benefit from policy support [4][14]. - Specific companies to watch include Xueda Education (000526) and Keri International (300662) in the education and human resources sectors, respectively [4][14]. In the tourism sector, companies like Songcheng Performance (300144) and Changbai Mountain (603099) are highlighted for their potential recovery [4][14].