根据相关规定，市内免税店的进口商品免征关税、进口环节增值税和消费税，国内商品进入市内免税店视同出口，退（免）增值税、消费税。在此次开业 的天津市内免税店，免税区域商品的销售对象为持有出入境证件并已购买出境机票，即将于60日（含）内搭乘飞机从天津滨海机场出境的旅客。此外，在 我国境内连续居住不超过183天的外国人和港澳台同胞在店内有税商品区域购物，满足购物金额、商品状态、购买与离境时间等相应条件时，可以享受离 境退税"即买即退"服务。 来源：天津日报 明天（11月28日），天津首家市内免税店将正式投入运营。门店位于南开区东马路仁恒伊势丹 A馆一层，以"免税+有税""进口+国产""线下+线上"为经营 模式，面积达1105.5平方米。其中，免税商品包括香水和化妆品、腕表首饰、太阳镜、酒水等品类；有税商品涵盖保健品、潮玩、有税酒水及国潮优品等 类型。 ...

11月25日，来自俄罗斯、德国、意大利、澳大利亚等9个国家的9位外籍专家，走进西咸新区空港新城的陕 西星空跨境供应链管理有限公司，深度考察空港综合保税区的跨境服务生态，并围绕智慧仓储、国际通道 协同、"一带一路"市场共建拓展等核心议题展开交流，为西安跨境电商高质量发展注入国际动能。 陕西星空跨境供应链管理有限公司保税仓货架 飞机低空飞过，来自日韩、欧洲的美瞳、奶粉、保健品、母婴产品、美妆产品等进口商品落地西咸新区空 港新城，分门别类地陈列在8000平米的保税仓内。业务足迹不断扩大的星空跨境，是西北地区最大的跨境 电商保税仓储服务商，也是陕西省跨境电商保税备货进口服务龙头企业之一。 "中国是一个大市场，我希望能在中国越来越多的地方看到阿拉伯国家的产品，并被更多中国消费者熟知 与喜爱。"在陕西星空跨境供应链管理有限公司调研参观时，目睹园区内汇集的世界各地特色产品，约旦 塔拉勒・阿布各扎拉全球集团亚太总裁、国际中心主任韩达深有感触地表示。 外籍专家们实地探访了该公司1.5万平方米的高标准保税仓，详细了解恒温仓储、智能分拣等设施，以及 WMS（仓储管理系统）、OMS（订单管理系统）的系统集成应用情况，对其日处理3万单 ...

截至9月30日，人民同泰股东户数2.77万，较上期增加0.03%；人均流通股20900股，较上期减少0.03%。 2025年1月-9月，人民同泰实现营业收入78.46亿元，同比增长2.19%；归母净利润1.12亿元，同比减少 45.69%。 人民同泰今年以来股价涨56.53%，近5个交易日跌26.39%，近20日涨39.26%，近60日涨38.61%。 今年以来人民同泰已经13次登上龙虎榜，最近一次登上龙虎榜为11月21日，当日龙虎榜净买入-755.68 万元；买入总计1772.17万元 ，占总成交额比6.22%；卖出总计2527.85万元 ，占总成交额比8.87%。 资料显示，哈药集团人民同泰医药股份有限公司位于黑龙江省哈尔滨市道里区哈药路418号，成立日期 1994年2月19日，上市日期1994年2月24日，公司主营业务涉及主要业务包括医药批发业务、医药零售业 务及提供医疗服务。主要销售中西成药、中药饮片、贵细药材等中西药品,同时销售医疗器械、保健 品、日用品、玻璃仪器、化学试剂等产品。主营业务收入构成为：批发-医疗客户57.72%，批发-商业客 户22.26%，零售18.91%，其他0.69%，其他(补 ...

股东高管密集减持 11月16日，益丰药房发布了高级管理人员减持股份计划公告。公司副总裁王永辉和副总裁肖再祥拟通过集中竞价的交易方式减持公司股份（合计减持数量 不超过21.39万股），原因标注为"自身资金需求"。 今年以来，益丰药房高管减持行为频繁显现。 表面看，这只是一次常规的高管个人财务安排，却难以摆脱市场对其背后动机的审视。尤其是在公司近一年来股东与高管频繁减持的背景下，这一动作愈 发显得意味深长。 文/每日财报 南黎 今年以来，益丰药房高管减持行为频繁显现。 1月4日，公司副总裁张朝旭通过集中竞价交易的方式累计减持公司股份 2.02万股，占公司总股本的0.0017%；5月23日，公司执行总裁高佑成、助理总裁 颜俊分别减持5.04万股、2.29万股，分别占总股本0.0042%、0.0019%。 事实上，近年来，益丰药房控股股东及高管减持较为频繁。尤为引人关注的是，8月6日晚，益丰药房发布公告：控股股东宁波梅山保税港区厚信创业投资 合伙企业及其一致行动人益之丰、益仁堂，在短短两天内通过大宗交易减持2424.8万股，占公司总股本2%，套现约5.55亿元。减持消息一经披露，次日公 司股价应声下挫2.2%，收于2 ...

作者：邱鑫浩 来源：邱处机 步履不停。 在线下门店的经营压力下，侯毅的宠物零售新项目"派特鲜生"终究没能跑通模式。 据《第一财经》报道，派特鲜生在上海的10多家门店，已有7家显示停业。侯毅也表示，计划到今年12月中旬关闭所有线下门店，但会保留线上业务。 这距离侯毅高调创立这一宠物食品零售品牌，才过去不到9个月。 01 百店梦想 今年2月21日，侯毅宣布进军宠物食品零售领域，创立"派特鲜生"品牌，首店于2月22日开业。 根据他的宏伟计划，今年拟先在上海市场布局，开出100家门店，且结合线上线下共同发展，主打新零售、折扣化、零食量贩和人宠社交。 为了这一项目，侯毅不仅把微信头像更换为一只小狗，还在朋友圈发布招聘海报，全力投入宠物赛道。 火力全开下，派特鲜生在3月和4月，就在上海实现了10店联开。 凭借盒马创始人的背景和宠物行业的潜力，今年5月7日，"派特鲜生"宣布完成2500万美元的天使轮融资，创下近年来宠物行业天使轮融资新高。 当时"派特鲜生"表示，资金将用于大数据定制产品创新、建设供应链体系和门店精细化运营及拓展。 派特鲜生的商业模式，延续了侯毅擅长的"新零售"打法。 以长宁海粟广场店为例。派特鲜生这家全国首 ...

天眼查App显示，近日，阆中市添意商贸经营部（个人独资）成立，法定代表人为张晓玲，注册资本2 万人民币，经营范围为许可项目：食品互联网销售；酒类经营；食品销售。（依法须经批准的项目，经 相关部门批准后方可开展经营活动，具体经营项目以相关部门批准文件或许可证件为准）一般项目：保 健食品（预包装）销售；农副产品销售；日用百货销售。（除依法须经批准的项目外，凭营业执照依法 自主开展经营活动）。 ...

11月20日，益丰药房跌1.17%，成交额8451.61万元。两融数据显示，当日益丰药房获融资买入额680.34 万元，融资偿还1098.78万元，融资净买入-418.43万元。截至11月20日，益丰药房融资融券余额合计 1.09亿元。 融资方面，益丰药房当日融资买入680.34万元。当前融资余额1.07亿元，占流通市值的0.37%，融资余 额超过近一年60%分位水平，处于较高位。 机构持仓方面，截止2025年9月30日，益丰药房十大流通股东中，香港中央结算有限公司位居第二大流 通股东，持股1.99亿股，相比上期减少3819.35万股。南方中证500ETF（510500）位居第七大流通股 东，持股881.27万股，相比上期减少17.31万股。交银新成长混合（519736）位居第八大流通股东，持股 845.41万股，为新进股东。中欧医疗健康混合A（003095）退出十大流通股东之列。 责任编辑：小浪快报 资料显示，益丰大药房连锁股份有限公司位于湖南省长沙市麓谷高新区金洲大道68号，成立日期2008年 6月20日，上市日期2015年2月17日，公司主营业务涉及药品、保健品、医疗器械以及与健康相关的日用 便利品等的 ...

Group 1: Investment Strategies Overview - CITIC Securities released a comprehensive report on investment strategies for 2026, covering global capital markets, macroeconomic policies, A-shares, overseas markets, bond markets, asset allocation, and industry investment strategies [1] - The report includes insights from 19 research teams and spans approximately 30,000 words [1] Group 2: Pharmaceutical and Biotech Investment Strategies - The Chinese pharmaceutical industry is entering a critical phase characterized by "innovation realization + global layout," supported by population and domestic demand, as well as manufacturing capabilities [3][4] - The industry needs to focus on internal supply chain security and compliance while exploring diversified international expansion [3] - Key investment opportunities for 2026 include innovation commercialization, global breakthroughs, policy optimization, and industry mergers and acquisitions [3][5][6] Group 3: Medical Device Investment Strategies - The medical device sector is expected to see performance improvements in 2026 due to policy easing, new product launches, and international expansion [14] - The long-term investment opportunities in this sector stem from innovation, internationalization, and mergers and acquisitions [14] - The industry is witnessing a shift towards high-value consumables and innovative technologies such as brain-computer interfaces and AI in healthcare [14][15] Group 4: Consumer Healthcare and Bioproducts - The traditional Chinese medicine sector is expected to recover from short-term pressures, with improved demand anticipated by year-end [9] - The blood products industry is focusing on supply growth and consolidation, with significant demand for immunoglobulin and factor products [10] - The vaccine sector is under pressure but is expected to improve with new product sales and international expansion [10] Group 5: Banking Sector Investment Strategies - The banking sector is expected to continue its weak recovery in 2025, with a focus on high dividend strategies [25][26] - The sector's fundamentals are stabilizing, with credit growth projected at 7%-8% and non-interest income expected to improve [26] - High dividend yield strategies are favored, particularly for state-owned banks and those with solid fundamentals [27] Group 6: Wealth Management and Financial Products - The wealth management sector is entering a phase of product transformation and structural optimization, with an expected growth rate of 10% in 2026 [28][33] - The focus is on multi-asset and multi-strategy products, with a significant increase in mixed product offerings anticipated [29][30] - The integration of AI and digital technologies is expected to enhance risk management and operational efficiency in wealth management [30] Group 7: Non-Banking Financial Institutions - The securities industry is poised for a new growth cycle, driven by policies that enhance capital market inclusivity and adaptability [35][36] - The industry is experiencing a shift from self-operated models to collaborative, light-asset business strategies [36][37] - The internationalization of Chinese securities firms is gaining momentum, providing new opportunities for growth [38][39] Group 8: Insurance Sector Trends - The insurance industry is expected to undergo significant changes during the "14th Five-Year Plan" period, focusing on balancing interests among insurers, channels, and customers [43][44] - Key trends include the transformation of savings products, innovation in health insurance, and the development of new distribution channels [43][44] - The sector is anticipated to benefit from improved performance and valuation recovery, presenting investment opportunities [43][44] Group 9: Food and Beverage Sector - The food and beverage sector is recovering from a prolonged downturn, with a focus on premium products like liquor and health-oriented snacks [48][49] - The liquor industry is expected to stabilize as consumer confidence improves, with a focus on high-quality brands [49][50] - The snack and beverage segments are seeing growth driven by health trends and innovative product offerings [52][53]

金达威（002626.SZ）11月20日在投资者互动平台表示，您好，美国和中国是目前全球主要的保健品消 费市场，也是公司最主要的销售区域，公司保健品已通过亚马逊、iHerb、Coupang等线上渠道销往全球 上百个国家。公司在充分发挥自身优势，深耕中国和美国市场，力争行业领先的同时，将继续全球化布 局，努力提高品牌在全球的知名度和市场渗透率。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：公司保健品主要销售区域为美国和中国，公司是否有 拓展其他国家地区销售计划？ ...

Investment Rating - The industry maintains a "Market Perform" investment rating, indicating that the industry index is expected to fluctuate between -10% to 10% relative to the CSI 300 index over the next six months [60]. Core Insights - Since 2021, the revenue growth rate of the food and beverage industry has shown a stepwise decline, with a further slowdown in growth recorded in the first three quarters of 2025. The industry recorded a revenue growth of 0.18% in the first three quarters of 2025, a decline of 2.29 percentage points compared to the first half of the year [9][10]. - The industry has experienced a continuous increase in gross profit margins in recent years, peaking in 2024. However, since 2025, the gross profit margin has started to decline due to the fading cost advantages. The operating cost growth has outpaced revenue growth, leading to increased cost pressures [8][26]. - The report highlights a significant change in the expense structure of listed companies, with a reduction in sales expenses and a focus on internal control management. The research indicates that while sales expenses have decreased, R&D investments have remained stable [42][50]. - Profitability indicators for the food and beverage sector have been on the rise since 2021 but have started to decline in 2025 due to slowing revenue growth and the diminishing cost advantages. The net profit margin and return on equity have both decreased in the first three quarters of 2025 compared to the previous year [51][54]. Summary by Sections Revenue Growth - The food and beverage industry has seen a stepwise decline in revenue growth since 2021, with a recorded growth of 0.18% in the first three quarters of 2025, down 2.29 percentage points from the first half of the year [9][10]. - Sub-sectors such as snacks and soft drinks have shown strong growth, while others like prepared foods and white spirits have experienced revenue declines [10][19]. Cost and Profitability - The gross profit margin of the food and beverage sector peaked in 2024 but has started to decline in 2025 due to rising costs outpacing revenue growth. The gross profit margin was recorded at 49.53% in the first three quarters of 2025, down 1.39 percentage points year-on-year [26][54]. - The report indicates that the cost growth has exceeded revenue growth by 2.83 percentage points in the first three quarters of 2025, leading to increased cost pressures [27][31]. Expense Management - There has been a notable shift in the expense management of listed companies, with a reduction in sales expenses and a focus on internal control, resulting in a significant decrease in management expense ratios [42][46]. - The sales expense ratio has decreased from 12.35% in 2021 to 11.07% in the first three quarters of 2025, reflecting a more cautious approach to market investments [42][44]. Investment Opportunities - The report recommends focusing on investment opportunities in sub-sectors such as soft drinks, health products, baking, yeast, compound seasonings, and snacks, which are expected to perform well despite the overall industry slowdown [57].