《华夏时报》记者注意到，今年以来，从中央到地方一系列支持银发经济发展、创新养老金融产品的政 策密集出台，同时推出适老化改造补贴，多措并举培育产业生态。 政策效应已显现在最新经济数据中。7月16日，国家税务总局最新数据显示，2025年上半年我国银发经 济呈现供给升级、需求释放、数字赋能三大亮点，产业规模持续扩大，发展动能强劲。其中，养老服务 销售收入同比增长超40%，适老化产品新增2.87万种，老年旅游收入增长26.2%，智慧养老技术服务收 入增长33.7%，展现出从"养老"到"享老"的消费升级新趋势。资本市场方面，中证银发经济主题指数银 发经济（931893.CSI）今年以来涨幅达17.43%。 浙大城市学院副教授、文化与创意研究所秘书长林先平接受《华夏时报》记者采访时表示，2025年上半 年银发经济政策具有系统性和前瞻性，金融创新和适老化改造政策效果最为显著。金融领域实施方案直 接带动养老金融产品创新，适老化产品的高增长率证明政策对供给端的强力撬动作用。 供给丰富、需求多元、数字赋能成新趋势 本报（chinatimes.net.cn）记者王敬 北京报道 随着我国60岁以上人口突破3亿大关，银发经济正成为拉动 ...

（原标题：银发经济：应对老龄化的"必答题"与激活内需的"新引擎"） 国家税务总局7月16日公布的税收数据显示，2025年上半年，中国银发经济发展态势良好，养老服务和 银发产品供给进一步丰富，银发群体消费潜力持续释放。 今年上半年，全国银发经济发展呈现三大特点：从供给看，养老服务不断丰富，银发产品加速迭代；从 需求看，银发群体消费潜力巨大、喜好多样；从趋势看，数字化赋能银发经济发展新方向。 这一数据不仅是对2025年全国两会政府工作报告中"深化养老服务改革，制定促进银发经济发展政策"要 求的精准落实，更见证了中国养老服务和银发经济迈向高质量发展新阶段。 从需求看，银发群体消费潜力巨大、喜好多样。刚需、健康、悦己成为银发消费的三大核心驱动力。养 老服务刚需多元增长，上半年，社区养老照护服务、机构养老照护服务、居家养老照护服务销售收入同 比分别增长30.4%、22.6%、18%。健康消费增速亮眼，上半年，助行助听产品、老年营养和保健品、健 康监测设备销售收入同比分别增长32.2%、30.1%、7.5%。健康消费预防性支出显著增长，反映出健康 意识从被动医疗向主动管理转变。文娱消费提质升级，上半年，老年旅游服务、体育 ...

国家税务总局发布的最新数据显示，今年上半年，我国银发经济发展态势良好，养老服务和银发产品供 给进一步丰富，银发群体消费潜力持续释放。 从服务供给看，上半年，全国老年人残疾人养护服务业、适老类家庭服务业、适老类社会看护与帮助服 务业销售收入同比分别增长40.9%、14.1%、8.8%，较全国服务业平均增速分别高出37.7个、10.9个和5.6 个百分点，呈快速增长态势。 从生产制造看，上半年，全国从事银发产品生产制造主体户数同比增长14.1%；适老类健身器材制造、 康复辅具制造、营养保健食品制造销售收入同比分别增长14.7%、12.1%、6.9%，较全国制造业平均增 速分别高出9.5个、6.9个和1.7个百分点。 从需求看，银发群体消费潜力巨大、喜好多样。刚需、健康、悦己成为银发消费的三大核心驱动力。养 老服务刚需多元增长，上半年，社区养老照护服务、机构养老照护服务、居家养老照护服务销售收入同 比分别增长30.4%、22.6%、18%。 健康消费增速亮眼，上半年，助行助听产品、老年营养和保健品、健康监测设备销售收入同比分别增长 32.2%、30.1%、7.5%。健康消费预防性支出显著增长，反映出健康意识从被动医 ...

Group 1 - The company held a performance briefing for the fiscal year 2024 and the first quarter of 2025 on May 29, 2025, with key executives present to interact with investors [1] - The company reported a revenue of 1.666 billion yuan for Q1 2025, representing a year-on-year increase of 1.41%, and a net profit attributable to shareholders of 257 million yuan, up 10.94% year-on-year [2][3] - The company aims to maintain sufficient cash flow for stable operations and future growth, which justifies the decision to raise matching funds for the acquisition of Zhuoerbo [2][3] Group 2 - The company is exploring a second growth curve by establishing a wholly-owned subsidiary, Shundong Robot Technology (Ningbo) Co., Ltd., focusing on R&D, manufacturing, and sales of components and wearable equipment in the robotics sector [2] - The company is also developing magnesium alloy die-casting technology as a key direction for future technological reserves, targeting the automotive lightweighting and robotics fields [2] - The overall industry performance for Q1 2025 showed steady growth, although revenue growth rates have narrowed and profitability is under pressure [2][3]

Financial Performance - The company's Q1 revenue reached 1.666 billion yuan, representing a year-on-year increase of 1.4% [1] - The net profit attributable to the parent company was 257 million yuan, up 10.9% year-on-year, while the net profit excluding non-recurring items was 236 million yuan, reflecting a 6.6% increase [1] - The gross margin for Q1 was 28.7%, a decrease of 0.4 percentage points year-on-year, indicating stable gross margins due to improved cost control [1] - Operating cash flow net amount was 490 million yuan, showing a significant year-on-year growth of 37.4% due to increased cash receipts from sales [1] Strategic Developments - The company expects limited impact from tariffs, with a low percentage of direct exports to the U.S. and plans to gradually shift production capacity to its Mexico factory to mitigate tariff effects [2] - The Mexico Phase I factory is projected to turn profitable in 2024, while Phase II is expected to commence production in Q2 2025, focusing on large structural components for electric vehicles and other automotive parts [2] - The company is establishing a new subsidiary for robotics technology, aiming to develop and manufacture robotic components and wearable terminal products [3] - The acquisition of 71% of Zhuolibo for 1.118 billion yuan is underway, with expected net profits of 142 million, 157 million, and 174 million yuan for 2025-2027, respectively [3] Future Projections - Forecasted net profits attributable to the parent company for 2025, 2026, and 2027 are 1.136 billion, 1.404 billion, and 1.622 billion yuan, respectively [4] - The average PE ratio for comparable companies in 2025 is estimated at 19 times, with a target price set at 21.85 yuan, maintaining a buy rating [4]