Group 1 - Tianjin will organize government and enterprise groups to participate in the first China International Consumer Products Expo, showcasing 19 brands including "Guifaxiang," "Tianli," and "Yumeijing" [1] - Guifaxiang Eighteen Street Mahua Food Co., Ltd. specializes in traditional and other leisure food development, production, and sales, with over 100 products including its signature Eighteen Street Mahua, recognized as a national intangible cultural heritage [1] - Tianli Duliu Vinegar Co., Ltd., a time-honored brand, has an annual production capacity of 100,000 tons and is one of the largest condiment brewing companies in China, offering nearly 100 varieties across seven series, including health vinegar approved as health food by the Ministry of Health [1] Group 2 - Tianjin Seagull Watch Group Co., Ltd., established in 1955, ended China's history of only repairing watches and has manufacturing bases in multiple cities, with sales outlets across major urban areas [2] - Yumeijing Group Co., Ltd. is a large modern enterprise group known for its cosmetic products, with over 200 products across more than 20 series, including brands like "Yumeijing" and "Yuyingfang" [2]

证券代码：002820 证券简称：桂发祥 公告编号：2025-027 天津桂发祥十八街麻花食品股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、股票交易异常波动情况的说明 天津桂发祥十八街麻花食品股份有限公司(以下简称公司或本公司)股票(证券 简称：桂发祥，证券代码：002820)连续 3 个交易日(2025 年 8 月 8 日、2025 年 8 月 所交易规则》的规定，属于股票交易异常波动的情况。 二、对重要问题的关注、核实情况说明 针对公司股票交易异常波动，经公司自查，并向控股股东、实际控制人就相关事 项函询，现就有关情况说明如下： 或处于筹划阶段的重大事项。 未公开重大信息。 情形。 三、是否存在应披露而未披露信息的说明 本公司董事会确认，公司目前没有任何根据《深圳证券交易所股票上市规则》等 有关规定应予以披露而未披露的事项或与该事项有关的筹划、商谈、意向、协议等； 董事会也未获悉公司有根据《深圳证券交易所股票上市规则》等有关规定应予以披露 而未披露的、对公司股票及其衍生品种交易价格产生较大影响的信息；公司前期披露 的信息不存在需要更正、 ...

Core Viewpoint - The article highlights the historical and cultural significance of the Ancient Culture Street in Tianjin, showcasing its evolution from a vital transportation hub to a modern cultural landmark that blends tradition with innovation [2][9]. Group 1: Historical Significance - The Ancient Culture Street, known as "津门故里," reflects Tianjin's history as a major commercial port since the Sui Dynasty, with significant grain transport to Beijing during the Ming and Qing Dynasties [2]. - The street serves as a living history book, encapsulating the cultural and commercial exchanges that have shaped Tianjin over centuries [2][3]. Group 2: Cultural Revival - The restoration of the Tianhou Palace, completed in 2024, utilized original materials and techniques, preserving its historical features [6]. - Traditional crafts, such as the six-hundred-year-old clay figurine art from "泥人张," continue to thrive, attracting numerous visitors [6][8]. Group 3: Modern Integration - The "津港印象" project, set to launch in 2024, will merge maritime culture with the historical context of the Ancient Culture Street, showcasing the evolution from a grain transport hub to a modern port city [9][12]. - The integration of traditional and modern elements is evident in various collaborations, such as the partnership between the 桂发祥 brand and Yangliuqing New Year Paintings, enhancing cultural experiences for visitors [6][12].

Group 1 - The cultural and tourism economy in Tianjin is experiencing significant growth, with domestic tourist arrivals reaching 134.84 million and spending totaling 143.76 billion yuan in the first half of the year, marking a 3.9% and 12.1% increase year-on-year respectively [1] - A series of policies have been introduced to stimulate cultural and tourism consumption, including 18 specific measures aimed at fostering new growth points in the sector [1] - The focus is on nurturing consumer demand in cultural tourism, emphasizing the importance of integrating culture into travel experiences to enhance cultural confidence and achieve both social and economic benefits [1] Group 2 - The principle of "guarding tradition while innovating" is crucial for the integration of culture and tourism, as exemplified by the Yangliuqing woodblock New Year paintings, which combine traditional techniques with modern aesthetics [2] - The application of new technologies such as big data and virtual reality is transforming cultural tourism projects, enhancing visitor experiences and making historical culture more engaging for younger audiences [2] - The shift in consumer expectations is evident, with a growing interest in experiential and immersive cultural activities rather than traditional sightseeing, as seen in the interactive presentations at historical sites like the Ji Hongchang Former Residence [3][4] Group 3 - The continuous innovation in the cultural tourism market is expected to enhance consumption quality and expand the market, contributing to a richer and more fulfilling lifestyle for consumers [4]

流动的经济社会图景里，处处洋溢着独特的"中国风""文化味"。今年以来，一系列政策陆续出台。《关 于进一步培育新增长点繁荣文化和旅游消费的若干措施》围绕六个方面，提出18项具体措施。《提振消 费专项行动方案》提出，"扩大文体旅游消费"。数据显示，今年上半年，天津共接待国内游客13483.88 万人次，同比增长3.9%；国内游客旅游花费1437.61亿元，同比增长12.1%。 8月9日，"何以中国·和合共生"网络主题宣传活动采访团来到天津古文化街。中国经济网 年巍/摄 这个暑期，天津的文旅经济持续"升温"。在古文化街，桂发祥十八街麻花、果仁张、泥人张、杨柳青年 画等特色店铺内，新旧产品琳琅满目，顾客们穿梭其间选购；在国家海洋博物馆，家长带着孩子在展厅 中浏览，领略地球、海洋、人类之间相互依存、相互共生的真谛…… 此外，随着大数据、虚拟现实等新技术在文旅领域加速应用，数字化已成为很多文旅项目创新产品、优 化体验的关键词，由"数字+文旅"催生的文旅项目在各地不断涌现。比如天津博物馆，就运用前沿数字 技术赋能展陈形式：在展厅内，形式多样的互动体验让文物"活"起来，传世珍宝可以"指尖把玩"，"拉 洋片"窥见老城津韵。从实 ...

Group 1 - Tianjin's identity is deeply intertwined with water, which has shaped its history and culture since the Grand Canal was completed during the Sui and Tang dynasties [1] - The city has a rich history of cultural integration, with influences from various regions contributing to its unique character, making it a melting pot of cultures [1][2] - Tianjin is home to 49 national intangible cultural heritage items, showcasing the beauty of cultural harmony and the blending of different artistic traditions [2] Group 2 - The upcoming Shanghai Cooperation Organization summit in Tianjin in 2025 highlights the city's growing confidence and openness, aiming to use culture as a bridge to connect with the world [3] - Tianjin's historical and cultural depth is positioned to create a narrative of "harmony and coexistence" that resonates globally [3]

Core Viewpoint - The article highlights the rich intangible cultural heritage of Tianjin, showcasing various traditional crafts, foods, and performing arts that reflect the city's unique character and charm [23]. Group 1: Cultural Events and Activities - A large immersive summer music and fireworks show titled "Night on Jinmen: Fireworks Encounter Aircraft Carrier" took place at the Tianjin TEDA Aircraft Carrier Theme Park, themed "Fireworks Planet," attracting many citizens and tourists [3]. - The "What is China: Harmony and Coexistence" online theme promotion event will take place from August 7 to 9, 2025, allowing media members to deeply experience Tianjin's charm [3]. Group 2: Traditional Crafts - Yangliuqing New Year Paintings, known as "South Peach North Willow," are a prominent form of Chinese folk woodblock prints, characterized by meticulous craftsmanship and vibrant colors [5]. - The sixth-generation inheritor of the clay sculpture technique, Zhang Yu, continues the tradition of creating lifelike figures, showcasing the artistic skills passed down through generations [7]. - The "Tianjin Kite Wei" making technique, a national-level intangible cultural heritage, features over 200 types of kites designed by Wei Yuantai, known for their intricate craftsmanship [9]. Group 3: Culinary Heritage - "Goubuli" steamed buns are renowned for their exquisite flavor and craftsmanship, with a specific ratio of meat to fat and carefully selected seasonal ingredients [11]. - "Guifaxiang Eighteen Street Fried Dough Twist" is celebrated for its crispy texture and traditional preparation methods, embodying the essence of Tianjin's culinary culture [13]. - The Tianjin Mahua Cultural Festival featured a giant 118-pound fried dough twist, showcasing the city's rich food heritage [15]. Group 4: Performing Arts - Tianjin, known as "Gendudu," has a rich tradition of comedic arts, particularly in the form of crosstalk, with famous masters like Ma Sanli and Hou Baolin contributing to its popularity [17]. - The Tianjin Law Drum performance combines various percussion instruments to create a lively atmosphere, reflecting the city's vibrant cultural scene [19]. - Traditional Tianjin magic relies on genuine skills and clever verbal tricks, showcasing the city's unique approach to performance art [21]. Group 5: Intangible Cultural Heritage - The article emphasizes that Tianjin's intangible cultural heritage is a blend of craftsmanship and memory, representing the city's soul through its diverse artistic expressions [23].

非遗，是时间打磨的印记，是文化流淌的温度。从色彩斑斓的杨柳青木版年画，到神形兼备的泥人张；从翱翔天际的风筝魏，到香飘百年的"狗不理"包子 ——这些独具特色的非遗代表性项目，既是天津历史的见证，也是城市文化的鲜活名片。跟随海报，一起来看→ 杨柳青木版年画 杨柳青木版年画发源于千年古镇杨柳青。其 题材广泛,内容丰富,构图饱满,寓意吉祥,雅 俗共赏。作品采用刻绘结合的手法,刻工精美, 绘制细腻,人物生动,色彩典雅,成为我国著名 的年画品种之一。杨柳青年画是中国年画艺术的 代表,在中国民间文化和天津文化发展史上占有 重要地位。 天津泥人张 天津风筝魏制作技艺 1892年,"魏记"风筝创始人魏元泰在天津鼓楼创 立"魏记长清斋扎彩铺"。在七十余载的艺术实践中, 魏元泰将木工的打眼扣榫、锡焊工的铜箍连接技艺和 天津民间绘画技法相结合并移用在风筝制作上,制出 了可拆展、折叠的软翅风筝,从而得到"风筝魏"的称 号。风筝魏制作的风筝具有造型多变、彩绘逼真、飞 行平稳、特技精湛、便于携带等独特的艺术风格,深 为世人所喜。 天津"狗不理"包子制作技艺 狗不理包子为天津名优食品"三绝"之首,系用水 馅半发面制作,状若凝脂,形似菊花,口 ...

Core Viewpoint - Guifaxiang, known as the "first stock of Mahua," has reported a mid-year loss for the first time in two years, raising concerns about its future development prospects in the face of multiple challenges such as weak consumer demand and a single product structure [1][4]. Group 1: Financial Performance - The company expects a net loss attributable to shareholders of approximately 3 to 5 million yuan for the first half of the year, reflecting ongoing operational difficulties [1]. - In the first quarter, Guifaxiang's revenue decreased by 8.76% year-on-year, with net profit down 64.46% to 6.645 million yuan, indicating a significant decline in performance [3]. - The estimated loss for the second quarter is projected to be around 10 to 12 million yuan, marking a severe downturn compared to previous years [3]. Group 2: Reasons for Loss - The primary reasons for the loss include persistent weak market demand, particularly in the Tianjin local market, leading to a decline in both customer traffic and average transaction value [2]. - The expansion of distribution channels has resulted in increased operational costs, including higher advertising expenses and depreciation costs for new office buildings [2]. - A decrease in investment income due to reduced investment in financial products and lower interest income has further exacerbated the financial downturn [2]. Group 3: Business Model and Strategy - Guifaxiang's revenue heavily relies on its Mahua products, which accounted for 65.91% of total revenue in 2024, highlighting the vulnerability of its single product structure [4]. - The company has increased marketing expenditures significantly, from 108 million yuan in 2022 to 153 million yuan in 2024, while reducing R&D spending by 66.2% [4]. - The company faces intense competition in the snack food industry, necessitating a shift towards product innovation and a more diversified marketing strategy to attract younger consumers [5]. Group 4: Industry Context - The snack food industry in China is experiencing rapid expansion, with increasing demand for healthier and personalized products, while traditional channels are under pressure to adapt [5]. - The competition has shifted from price wars to a focus on product innovation and consumer experience, emphasizing the need for companies like Guifaxiang to evolve [5]. - Guifaxiang stands at a crossroads, needing to balance traditional craftsmanship with modern market demands, serving as a case study for the transformation of traditional brands in the new era [6].

Performance Forecast - The company expects a loss of 3 million to 5 million yuan for the current reporting period, compared to a profit of 22.72 million yuan in the same period last year, representing a decline of 113.20% to 122.01% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be a loss of 3 million to 5 million yuan, down from a profit of 21.54 million yuan last year, indicating a decrease of 113.93% to 123.21% [1] - Basic earnings per share are projected to be a loss of 0.02 to 0.03 yuan per share, compared to earnings of 0.11 yuan per share in the previous year [1] Reasons for Performance Change - The decline in performance is attributed to a decrease in overall customer traffic and average transaction value in direct sales channels [1] - Revenue from distribution channels has decreased due to the closure and renovation of some local tourist attractions, with the benefits from newly developed markets yet to materialize [1] - A drop in sales and production has led to an increase in fixed manufacturing costs per unit, resulting in higher unit costs and a decline in overall gross margin [1]