每经头条（nbdtoutiao）——大鹏工业战略配售"肥"了自家人！认购价9元，上市首日涨到118元，实控 人和亲哥哥凭配售一天浮盈2492万元 每经AI快讯，天府文旅（SZ 000558，收盘价：5.51元）11月24日晚间发布公告称，公司第十一届第三 十九次董事会会议于2025年11月21日在四川省成都市高新区府城大道西段399号天府新谷10栋5楼506号 公司会议室以现场加通讯表决的方式召开。会议审议了《关于公司签署股权投资意向协议的议案》等文 件。 2025年1至6月份，天府文旅的营业收入构成为：文化旅游占比51.88%，影视业务占比35.03%，出租收 入占比7.45%，会务会展业务占比4.8%，体育收入占比0.83%。 截至发稿，天府文旅市值为71亿元。 （记者 曾健辉） ...

体育赛事进景区、进街区、进商圈，跟着赛事去旅行成为新风尚，"苏超""浙BA"等赛事活动掀起消费 热潮……如今，体育消费的热度从城市商圈蔓延到县域乡村，从传统场馆延伸到自然山水，既成为满足 人民美好生活向往的鲜活注脚，更成为扩大内需、稳定增长的重要引擎。 做好"新供给"这篇大文章，深化"体育+"融合发展，打造高质量赛事IP， 营造吃、住、行、游、购、娱 一体化消费场景，不断激发人们的消费意愿 11月9日晚，第十五届全国运动会在广东奥林匹克体育中心拉开大幕。本届全运会期间，粤港澳三地精 心设计"竞赛动线即文旅路线"，将19座办赛城市的体育场馆与文化旅游资源有机串联，构筑出一批文体 旅融合的"天然场景"。广州"赛事+珠江夜游"，珠海"观赛+海岛游"等，推动体育赛事进景区、进街区、 进商圈，培育融合发展新业态、新产品、新服务，带动住宿、餐饮、旅游等各行业增收，实现从赛事流 量到经济增量的转化。 "体育+"融合发展的深化，让消费场景愈发立体鲜活。四川结合世运会开展"跟着赛事去旅行"，1至7月 体育消费规模达1180亿元，同比增长8.3%；江西推动"体育赛事进景区、进街区、进商圈"活动，发挥赛 事引流作用打造消费场景，上 ...

Core Viewpoint - The report emphasizes the acceleration of new growth momentum in China's economy through enhanced fiscal policies, support for innovation, and investment in key industries, while ensuring the stability of employment and market expectations [1][3]. Group 1: Fiscal Policy and Economic Growth - The fiscal policy is increasingly proactive, focusing on stabilizing employment, businesses, and market expectations, while promoting economic recovery [3][4]. - A total of 300 billion yuan in special bonds is allocated to support the replacement of consumer goods, which is expected to stimulate significant retail sales [4][15]. - The central government plans to increase its technology funding to 398.12 billion yuan in 2025, a 10% increase from the previous year, focusing on core technology and strategic industries [5][21]. Group 2: Investment and Consumption - The government aims to enhance domestic demand by boosting consumption and effective investment, with a focus on key sectors and weak links [13][16]. - The issuance of special bonds has accelerated, with 5.55 billion yuan issued in the first half of the year, completing 42.7% of the annual target [16]. - The manufacturing sector is expected to see a 10.3% increase in industrial investment, driven by government support for technological upgrades [17]. Group 3: Employment and Social Welfare - The central government allocated 667.4 billion yuan for employment support, with 6.95 million new urban jobs created in the first half of the year [27][28]. - Education spending increased by 5.9% to 2.15 trillion yuan, with a focus on improving quality and access to education [29][30]. - Basic public health service funding reached 804.35 billion yuan, enhancing health management and disease prevention efforts [32][33]. Group 4: Risk Management and Financial Stability - The government is implementing measures to mitigate financial risks, including the management of local government debt and the promotion of real estate market stability [7][9]. - A comprehensive approach to fiscal management is being adopted, including reforms in tax systems and budget execution to ensure effective use of resources [7][12]. Group 5: Innovation and Technology - The report highlights the importance of integrating technological innovation with industrial development, with a focus on enhancing research capabilities and supporting key technology projects [20][21]. - Funding for basic research is set to increase by 12.1%, emphasizing the need for original innovation and support for research institutions [21][22]. Group 6: Environmental and Social Development - The government is committed to ecological protection and sustainable development, with significant funding allocated for pollution control and ecosystem restoration [38][39]. - Social welfare programs are being expanded, with increased support for vulnerable populations and efforts to improve living standards [34][35].

Group 1 - Xiamen Tungsten announced an investment of 388 million yuan to establish a wholly-owned subsidiary, Xiamen Jinlu Advanced Ceramic Materials Co., Ltd., in Huli District to expand into new business areas [1] - The registered capital of the new subsidiary is 190 million yuan, with a fixed asset investment of 358 million yuan and working capital of 30.05 million yuan, all funded by the company [1] - The project is expected to take three years to complete and will serve as a comprehensive platform for Xiamen Jinlu's overall solution development services, showcasing efficient cutting solutions and rapid production capabilities [1] Group 2 - Xinha shares recently established Xiamen Xinshi Intelligent Investment Information Technology Co., Ltd., focusing on artificial intelligence application software development and network security software development [2] - Last year, Xinha invested 100 million yuan to set up Xiamen Xinha Tengying Investment Co., Ltd., targeting low-altitude economy, artificial intelligence, and new technology innovation [2] - In May of this year, Xinha invested 20 million yuan to establish a wholly-owned subsidiary in Shanghai to support its main business development and expand its business layout [2] Group 3 - Luyuan Pharmaceutical announced an investment of approximately 600 million yuan through its wholly-owned subsidiary Luyuan Jiawen to build two hotels and incubate health-related businesses [3] - The investment aims to extend the value chain of health services, including medical rehabilitation, health maintenance, elderly leisure, sports, and cultural tourism [3] - Luyuan Jiawen plans to establish two hotel management companies with its own funds and introduce an internationally renowned hotel brand (Hilton) and management team for daily operations [3]

Group 1: Consumer Market Performance - The consumer market in Shenzhen showed strong performance during the National Day and Mid-Autumn Festival holiday, with notable growth in automotive and gold consumption, as well as robust demand in dining, tourism, and cultural services [1][2] - Automotive sales revenue increased by 26.7% year-on-year, with new energy vehicles growing by 24.1%, driven by favorable policies such as tax exemptions and local consumption subsidies [1] - Jewelry sales revenue surged by 57.7% year-on-year, attributed to the traditional wedding season and rising gold prices [1] Group 2: Dining and Cultural Services - The dining industry experienced a significant increase in daily sales revenue, which rose by 58% year-on-year, with full-service dining growing by 73% and takeout services increasing by 62.8% [1] - Cultural and artistic services saw a year-on-year revenue growth of 2.7%, with performing arts services increasing by 3.9% and dance hall revenues skyrocketing by 6.2 times [2] - Sports services revenue surged by 113.3%, driven by high-profile sporting events and the upcoming 15th National Games [2] Group 3: Health and Transportation Services - There was a strong demand for food and health products, with bakery goods increasing by 2.2 times and nutritional supplements growing by 4.5% [2] - Passenger transport services showed remarkable growth, with daily sales revenue increasing by 4.1 times, particularly in land transport, which saw a 33.1 times increase in road passenger transport revenue [2] - Air transport revenue grew by 4.1% year-on-year, while water transport revenue increased by 1.3% [2]

Group 1 - The core viewpoint of the article highlights the strong performance of Shenzhen's consumer market during the National Day and Mid-Autumn Festival holidays, with significant growth in various sectors [1] Group 2 - Automotive sales revenue increased by 26.7% year-on-year, with new energy vehicles growing by 24.1% [1] - Jewelry sales revenue surged by 57.7% year-on-year, driven by rising gold prices and the traditional wedding season [1] - Cultural and artistic service sales revenue grew by 2.7% year-on-year, with performing arts services increasing by 3.9% [1] - Nightclub sales revenue experienced a remarkable increase of 6.2 times [1] - Sports service sales revenue saw a substantial growth of 113.3% year-on-year, fueled by high-profile sports events and the upcoming 15th National Games [1]

Group 1 - The National Development and Reform Commission (NDRC) has allocated a total of 300 billion yuan in special bonds to support the consumption upgrade policy, with the latest batch being 69 billion yuan [1][2] - The government aims to boost consumption as a primary task this year, with the "old-for-new" policy playing a significant role in this initiative [2][3] - From January to August, 330 million people have claimed subsidies under the "old-for-new" policy, leading to over 2 trillion yuan in related sales, contributing to a 4.6% year-on-year growth in total retail sales of consumer goods [5][6] Group 2 - Analysts suggest that future consumption policies may expand the scope of subsidies from durable goods to general consumer goods and services [5] - The government has also introduced new policies to support service consumption, with 19 measures aimed at enhancing service supply in various sectors [6] - The expected growth rate of retail sales is projected to reach 4.5% this year, reflecting a 1.0 percentage point acceleration compared to the previous year [6]

Core Viewpoint - The Ministry of Commerce, in collaboration with nine other departments, has issued a set of policy measures aimed at expanding service consumption, focusing on optimizing supply and stimulating demand while promoting both domestic and foreign investment in the service sector [1][2][3]. Group 1: Policy Measures Overview - The policy measures consist of five main areas with a total of 19 tasks designed to address bottlenecks in service consumption development [1]. - Key features of the measures include a focus on enhancing people's livelihoods and promoting consumption, optimizing supply while stimulating demand, and balancing domestic openness with foreign investment [2]. Group 2: Financial Support and Implementation - The People's Bank of China has introduced structural monetary policy tools to support service consumption, including loans for service consumption and elderly care, as well as encouraging financial institutions to innovate products and services [3]. - The implementation of these policies aims to ensure that benefits reach service providers and consumers, enhancing overall satisfaction [3]. Group 3: Enhancing Service Supply - The National Development and Reform Commission plans to improve service supply quality by promoting innovation in enterprises, enhancing service levels, and creating a favorable market environment [4][5]. - Specific initiatives include the integration of artificial intelligence in service sectors, the establishment of training bases for skilled service personnel, and the removal of market entry barriers to support small and medium-sized enterprises [4][5].

Core Viewpoint - Beijing is positioning itself as an "International Event City" by leveraging its existing sports infrastructure and expertise, aiming to enhance sports consumption and contribute to global sports service trade development [2][5]. Group 1: Sports Service Exhibition and Collaborations - During the 2025 Service Trade Fair, Beijing expects to achieve a record number of sports-related cooperation agreements, with 69 projects already signed and nearly 30 more agreements reached in the first three days of the event [2]. - A notable example includes a snow materials company that engaged thousands of visitors and established cooperation intentions with nine domestic leading enterprises and one from South Africa [2]. Group 2: Event System Development - Beijing plans to develop three types of event systems to support its "International Event City" initiative: 1. International top-tier events such as the WTT China Grand Slam and the World Swimming Championships, with 1,280 sports events planned for the year [3]. 2. Robotics events, including the first World Humanoid Robot Games and various competitions showcased at the fair [3]. 3. Virtual sports events, with the first national virtual sports open competition set to take place in Beijing [3]. Group 3: Emerging and Mass Participation Events - The city will introduce emerging sports events like BMX, pickleball, and climbing, which are popular among younger demographics [4]. - Beijing will also continue to promote local mass participation events, such as the Beijing Marathon and youth sports competitions [4]. Group 4: Sports Consumption Growth - In 2024, the average sports consumption per resident in Beijing is projected to be 4,330.7 yuan, a 12.9% increase from 2023, with total sports consumption expected to reach 94.54 billion yuan [5]. - The average sports spending accounts for 8.7% of total resident consumption and 5.1% of disposable income [5]. Group 5: Integration of Events with Other Sectors - Beijing aims to enhance the value of its "Double Olympic" venues by increasing event frequency and usage, while also integrating sports with culture, tourism, commerce, and technology [5][6]. - Examples of integration include collaborations between the Beijing Marathon and cultural or culinary experiences, as well as the application of advanced technologies like 8K broadcasting and AI analysis in events [5].

Group 1: Industry Overview - The State Council issued an opinion to enhance the sports industry, aiming for a total scale exceeding 7 trillion yuan by 2030, with significant improvements in development levels [1] - The sports industry in China reached a total scale of 3.67 trillion yuan in 2023, with an average annual growth rate of 10.3% since the 14th Five-Year Plan [1] - The sports service industry, led by competition performance and fitness leisure sectors, accounted for 72.7% of the added value in the sports industry [1] Group 2: Outdoor and Ice Sports Development - The opinion emphasizes the development of outdoor sports, proposing differentiated development based on local natural resources and promoting high-quality outdoor sports destinations [2] - The ice and snow economy is being cultivated, with measures to support ice sports equipment and expand participation in ice sports [2] - The outdoor sports online consumption is projected to reach approximately 300 billion yuan by 2024, with participation expected to be around 200 million people [3] Group 3: Financial Support and Investment - The opinion encourages financial institutions to optimize financing services for sports enterprises, including support for listings, refinancing, and asset securitization [3] - The sports industry has seen significant investment activity, with 16 disclosed financing events totaling about 559 million yuan as of September 4, 2025 [4] - The domestic consumption stimulus policies are expected to improve macro consumption conditions, benefiting the sports apparel market [4] Group 4: Company Performance - Li Ning has established a clear product matrix and is focusing on product development, aiming to strengthen its market share against international brands [6] - Anta Sports reported a 15% year-on-year increase in net profit, driven by a 14% revenue growth, with an improved operating profit margin [6] - Xtep International achieved a revenue of 6.838 billion yuan for the first half of 2025, a 7.14% increase year-on-year, with significant growth attributed to online sales channels [6]