国庆见闻：#2025国庆见闻# 来源：市场资讯 一、这一轮赚钱了，但上一轮还没解套。 从去年924到现在，大家股票或是基金，普遍赚钱了，但是问题是上一轮牛市的基金还有不少人没解套。 这几天国庆节，我和老家的亲戚，还有同学聊天，也包括我之前时候和上北广深的朋友们交流。 从去年924到现在，大家股票基金赚钱了，但是赚钱有多有少，有先有后，比如去年红利好，今年科技好，红利就 一般。 当然赚钱和赚钱不一样，翻倍也是赚钱，涨50%也是赚钱，只涨了1%也算是赚钱了（你抬杠就是你对），但是好 歹从924到现在，大家赚钱了。 这一轮赚钱不是太大的问题，问题是上一轮牛市买的基金——还有不少人没解套，甚至还包括基金公司和证券公 司员工自己买的某些基金，都有一部分没解套。 我估计这一部分基金如果解套了，肯定有不少人想保本出。 现在，不论是上北广深这样一二线城市，还是我老家胶州这样的县城，大部分人对房价再次大涨估计不抱太大希 望，该买房的基本上也或多或少有了，银行存款利率又很低，所以老百姓钱总得有个去处。 股市是一个很好的居民财富蓄水池和发动机，但是过去这些年A股波动太大了，老百姓肯定想赚钱，但是也害怕 大跌。 A股最好的走势可能就 ...

Core Insights - The core viewpoint of the articles revolves around the significant decline of Baiguoyuan, a leading fruit retail chain in China, which is facing its first annual loss since its public financial data release in 2019, with an expected loss of 350 to 400 million yuan for the fiscal year 2024 [1][5]. Group 1: Company Performance - Baiguoyuan's store count has drastically decreased from 6,081 at the end of 2023 to 5,116, closing nearly 1,000 stores within a year [1][5]. - The company's high-end fruit sales proportion has sharply declined, leading to a gross margin of less than 11%, which is insufficient to sustain profits [5][8]. - The company experienced a significant drop in membership and revenue, with over 7 million members and revenue exceeding 10 billion yuan in 2020, but is now struggling to maintain profitability [5][6]. Group 2: Market Trends - The shift in consumer behavior among the middle class is evident, moving from "conspicuous consumption" to a more pragmatic focus on "value for money," as indicated by a 68.4% preference for cost-effectiveness [6][7]. - The retail landscape is changing, with competitors like Hema and Sam's Club offering lower prices and better supply chain efficiencies, which has eroded Baiguoyuan's market position [8]. - The rise of alternative brands and platforms, such as Pinduoduo, has increased the search volume for "affordable alternatives" by 200%, reflecting a broader trend of consumption downgrade among middle-class consumers [6][7].