2026 年春节社服行业数据点评 20260223 具体子行业在 2026 年春节期间有哪些亮点？ 在交通出行方面，与之密切相关的酒店业在 2025 年双位数下滑的低基数上实 现显著正增长。限时饮品方面，如茶百道和沪上阿姨分别实现双位数和高个位 数的单店或同店增长。此外，海南离岛免税销售额同比增长 19%，虽然较 1 月 日本通过短期直接刺激与中长期制度优化相结合的综合政策路径提升服 务消费发展，如 Go To Campaign 和完善休假制度，为中国当前服务 消费政策提供了参考借鉴意义。 餐饮行业重点推荐瑞幸、古茗、蜜雪和百胜。海底捞创始人回归，推动 红石榴计划。九毛九旗下太二餐厅调改效果逐渐显现。建议关注陕西旅 游，主要项目包括长恨歌演艺和华山索道。 份 40%的增速有所放缓，但仍表现良好。 你们对社服行业未来发展的总体观点是什么？ 摘要 春节期间社服行业复苏明显，交通出行提速，铁路增速达 10.7%，民航 增长 8%，酒店业在低基数上实现显著增长，海南离岛免税销售额同比 增长 19%，表明消费环境企稳，休闲需求强劲。 看好社服行业配置价值，政策刺激效果尚未完全显现，但需求已呈现企 稳回升迹象，政策支持服 ...

以上内容基于公开资料整理，不构成投资建议。 经济观察网 近期沪上阿姨（02589.HK）股价呈现波动走势。根据2026年2月20日数据，股票最新收盘价 为85.90港元，单日下跌1.21%，成交金额为17.48万港元。近一周内（2026年2月14日至21日），主要交 易日期为2月16日和2月20日：2月16日股价上涨1.28%至86.95港元，2月20日回调至85.90港元。区间内 （2月16日至20日）股价小幅上涨0.06%，振幅为2.80%。资金流向方面，2月20日总净流入13.89万元， 主要由散户资金推动。同期，所属非酒精饮料板块下跌0.49%，恒生指数下跌1.10%。 ...

Core Viewpoint - The company, Hu Shang A Yi, has announced a positive earnings forecast, expecting a significant increase in annual profit for the fiscal year ending December 31, 2025, driven by its multi-brand strategy and operational efficiency improvements [1] Financial Performance - The company anticipates an annual profit of approximately RMB 4.95 billion to RMB 5.25 billion, representing an increase of about 50% to 60% compared to the previous year's profit of RMB 3.29 billion [1] - Adjusted annual profit (non-IFRS) is expected to be between RMB 5.6 billion and RMB 5.9 billion, up approximately 34% to 41% from last year's adjusted profit of RMB 4.18 billion [1] Strategic Initiatives - The board believes that the growth in expected annual profit and adjusted profit is primarily due to the company's commitment to a multi-brand development strategy, focusing on providing high-quality products and services [1] - The company is leveraging an omnichannel operational model, combining online and offline strategies, to continuously launch new products and enhance consumer experiences, thereby meeting diverse consumer needs [1] - Ongoing efforts to optimize operational efficiency and reduce costs have further improved overall profitability [1]

Group 1 - The China Securities Central Enterprises Dividend Index (931233.CSI) includes 50 stocks of central enterprises with stable dividend levels and high dividend yields, achieving a 1-year dividend yield of 6.65% as of December 8, which is higher than the 10-year government bond yield of 4.77. The largest investment vehicle tracking this index is the Hong Kong Central Enterprises Dividend ETF (513910) [1] - The Hang Seng High Dividend Yield Index (HSMCHYI.HI) selects high dividend stocks from mainland companies listed in Hong Kong, with a 1-year dividend yield of 6.11 as of December 8, surpassing the 10-year government bond yield of 4.23. The only ETF tracking this index is the Hang Seng Dividend ETF (159726) [1] - The Non-Standard Poor Hong Kong Low Volatility Dividend Index (SPAHLVHP.SPI) includes 50 high dividend low volatility stocks listed in Hong Kong, with the Hong Kong Dividend Low Volatility ETF (159118) being the ETF with the lowest comprehensive fee tracking this index [1] Group 2 - The stock "沪上阿姨" has a dividend of 0.743755 HKD, with an ex-dividend date of December 12, 2025, and a payment date of February 4, 2026. It is not part of the indices mentioned above [2]

Financial Performance - The company reported a revenue of 1.818 billion yuan for the six months ending June 30, 2025, representing a year-on-year growth of 9.7% [1] - Gross profit for the same period was 572 million yuan, with a year-on-year increase of 10.4% [1] - The net profit attributable to the parent company was 203 million yuan, reflecting a year-on-year growth of 20.9% [1] - Adjusted profit for the period was 244 million yuan, showing a year-on-year increase of 14.0% [1] - Basic earnings per share were 1.97 yuan, up 19.4% year-on-year [1] Store Network and Business Model - As of June 30, 2025, the company had a total of 9,436 stores, including 24 directly operated stores and 9,412 franchise stores [1] - The store network covers all four direct-controlled municipalities in China, five autonomous regions, and over 300 cities across 22 provinces [1] - The business model is centered around collaboration with franchisees, who are responsible for leasing stores, daily operations, and hiring staff [2] - The company provides comprehensive support to franchisees through a standardized and digitalized store management system, including site selection, opening support, and operational training [2] - As of June 30, 2025, there were 5,706 franchisees operating 9,412 stores, indicating a successful expansion strategy in lower-tier markets [2]

Group 1 - The Chinese Ministry of Finance allocated 197 million yuan to support agricultural disaster recovery in seven provinces affected by floods and typhoons, focusing on crop replanting and infrastructure repair [3] - The "National Uranium No. 1" project successfully produced its first barrel of uranium, marking a significant breakthrough in China's natural uranium production capacity, which is expected to enhance energy resource security [4] - The Chinese mobile company, China Mobile, awarded contracts worth 124 million yuan for humanoid robot manufacturing to Zhiyuan Robotics and Yuzhu Technology, indicating a strong emphasis on the robotics sector [9] Group 2 - Meituan reported a record high of 150 million daily orders in its instant retail segment, with an average delivery time of 34 minutes, reflecting the growing demand for convenient consumer services [8] - The competitive landscape in the food delivery sector intensified as Meituan and Taobao launched significant discount campaigns, indicating aggressive marketing strategies to capture consumer spending [7] - NIO's CEO responded to claims about Xiaomi's electric vehicle range, asserting that NIO's performance remains unmatched, highlighting the competitive dynamics in the electric vehicle market [12]