史海兵代表三立期货在仪式中致辞，他表示，三立期货始终秉持"立公立信立德利国利民利他"理念，希 望通过捐赠物资助力学生增强体质、培养团队精神，以助学金传递关爱，鼓励同学们用知识改变命运， 实现人生价值。 为积极响应中国证监会、中国期货业协会"期货公司服务国家战略"号召，切实履行金融企业社会责任， 近日，山西三立期货有限公司副总经理史海兵带领党支部、办公室相关人员，前往运城市平陆县开展捐 资助学与党建共建活动，以实际行动为乡村振兴注入期货力量。 党建共建聚合力，筑牢帮扶根基 平陆县作为乡村振兴重点区域，教育事业发展与基层党组织建设是当地发展的关键环节。此次活动中， 三立期货首先与平陆县常乐镇常乐村民委员会签署《结对帮扶协议书》，明确帮扶方向与合作机制，为 后续常态化帮扶奠定坚实基础；同时三立期货党支部与常乐村党支部签署《党建共建协议书》，深入贯 彻党的二十大精神与习近平总书记重要讲话精神，约定在思想政治交流、党组织建设、全面从严治党等 领域深化合作，进一步强化党组织在乡村发展与企业改革中的核心引领作用。 捐资助学暖校园，助力成长梦启航 在平陆县常乐中心校，一场充满爱与希望的捐赠仪式顺利举行。平陆县教育体育局副局长 ...

（文章来源：证券日报） 证券日报网讯安利股份11月19日在互动平台回答投资者提问时表示，公司与芝华仕、顾家合作稳定，根 据客户需求推进相关家居材料的定制化开发。公司体育装备品类主要涵盖足球、篮球、运动包等产品， 已与耐克、迪卡侬等品牌开展合作，产品性能指标依据客户需求定向设计。 ...

央视网消息：教育部等五部门近日联合印发《关于实施学生体质强健计划的意见》（以下简称《意见》）。以强健学生体质、促进身心健 康为目标，提出学生体质强健计划"二十条"举措，具体有哪些重点内容？ 当前，青少年的身心健康备受关注。专家指出，从监测数据来看，我国学生体质健康状况总体有改善，但"小胖墩""小眼镜"等问题依然突出。 而体育是强健学生体质、解决身心健康问题最简便、最有效的途径。练体育，学生不仅能身体变棒，还能磨练意志，对大脑发育也有好处。 首都体育学院教授、全国高等学校体育教学指导委员会秘书长刘海元表示，体育改造大脑，还改造神经系统，所以对学习的效率会有更大的提 升。希望学生通过体育的锻炼、参加体育的活动，甚至体育的竞赛获得体育的精神。体育的精神是具有迁移作用的，它可以转成我们的品德、 意志、人格。第三，体育其实是个社会场景，有裁判、有教练、有志愿者、有运动员、有拉拉队，有家长后勤支持，通过这里边育人，学生体 验的东西更丰富更多。 针对长期以来学校体育存在的时长不够、质量不高、师资不强、场地不足、评价不尽科学等难点和重点问题，此次《意见》从深化体育教学改 革、加强师资队伍建设、强化条件保障等八个方面提出20条 ...

Core Insights - The Zhejiang Provincial Urban Basketball League ("Zhe BA") has become a significant grassroots sports event, attracting participation from all 11 cities and 90 counties in the province, with nearly 350 matches held and over 1.18 million spectators, generating a total consumption of 2.2 billion yuan [1][4] Group 1: Economic Impact - The "Zhe BA" league has effectively bridged basketball events and urban consumption, driving a strong momentum for sports-related economic growth [1] - Local governments have implemented various promotional strategies, such as distributing cultural and tourism vouchers, to encourage post-match spending among local audiences and attract repeat visits from tourists [1][4] - The league has significantly boosted the sports goods industry, with one company reporting a fourfold increase in order volume due to heightened demand [4] Group 2: Community Engagement and Events - Various local sports events, such as the 19th China Cycling Race, have attracted thousands of participants, setting new records and revitalizing tourism in traditionally off-peak seasons [6] - The integration of sports events with local tourism has led to a substantial increase in the number of events held annually, enhancing both scale and overall benefits [6] - The "Zhe BA" league and other local sports events have created a complete supply chain from event services to product manufacturing, significantly impacting local employment and economic output [6] Group 3: Visitor Statistics and Revenue Generation - In the first eight months of 2025, the Good Village area received 5.87 million visitors, marking a 7.5% increase, and generated revenue of 183 million yuan, an 8.2% rise [7] - The implementation of targeted strategies to convert short-term event traffic into sustained consumer engagement has proven effective, as seen in the significant increase in hotel searches and overall spending during major events [7][8]

Group 1 - The 15th National Games continues with 27 gold medals awarded on November 13, covering various sports including swimming, badminton, basketball, and boxing [1] - Zhang Zhanshuo, an 18-year-old swimmer from Shandong, won the gold medal in the men's 800m freestyle with a time of 7 minutes 46.69 seconds, setting a new national youth record [1] - In the U18 women's basketball final, Shandong defeated Jiangsu 96 to 73, with Zhang Ziyu scoring 31 points to lead her team to victory [1] Group 2 - The table tennis competition reached the quarterfinals on November 13, with notable matchups including top seed Sun Yingsha against veteran Zhu Yuling and Chen Meng facing Wang Manyu [2] - Wang Chuqin, the top seed in men's singles, secured the last semifinal spot after a tough match against Lin Gaoyuan, preparing to face Fan Zhendong in the semifinals [2] - Liao Guifang from Fujian set a new national record in the women's 76kg weightlifting category with a lift of 158kg, winning the gold medal [2] - The men's single kayak final in canoe slalom concluded with Quan Xin from Fujian winning the first gold medal for this event in the current National Games, achieving a three-peat [2] - The equestrian team event and individual qualifiers began on November 13, with Jiangsu leading in the team competition and Liang Ruiji from Guangdong in first place for the individual qualifiers [2]

Group 1 - The 15th National Games will be held from November 9 to 21, 2025, in Guangdong, Hong Kong, and Macau, marking the first time the event is hosted in Hong Kong and Macau [1] - A total of 34 major events and 419 sub-events are scheduled for the competition, with some events starting or finishing before the opening ceremony [1] - The event schedule includes various sports, with specific projects already completed in different regions, such as football and sailing [3][10] Group 2 - Shenzhen will host events including swimming, football (U18), cycling, badminton, boxing, archery, and basketball (U22) [4] - Hong Kong will host basketball (U22), cycling (track), fencing, golf, handball, rugby sevens, and beach volleyball [8] - Macau will host basketball (U18, 3x3), table tennis, and volleyball (women's senior group) [9] Group 3 - Various cities will host different sports, such as Zhuhai (athletics, road cycling, tennis), Shantou (surfing, women's handball), and Dongguan (basketball, weightlifting) [11][18] - The event schedule is subject to change, and the actual competition times should be confirmed closer to the event [10][29]

Core Insights - The article highlights the journey of streetball player Deng Dan, who aims to promote warmth and community through basketball rather than focusing on commercial gains [1][4] - Deng Dan has created a free streetball venue called NICEID in Dongguan, where he organizes grassroots basketball events to foster connections among players [1][2] Group 1: Personal Background and Journey - Deng Dan grew up in a mining family in Hunan and developed a passion for basketball, inspired by local workers and NBA star Allen Iverson [1] - After dropping out of school at 17, he moved to Dongguan for work, where basketball became a crucial part of his life, helping him cope with the challenges of daily labor [1][2] Group 2: Impact of Basketball in Dongguan - In 2004, having basketball skills significantly improved job prospects in Dongguan, with many business partnerships formed through the sport [2] - Deng Dan returned to Dongguan in 2014, motivated by the city's vibrant basketball culture, and later founded a basketball-related brand and a free streetball court [2][3] Group 3: Community Engagement and Social Value - Deng Dan organizes over 20 events annually, attracting around 10,000 participants each time, emphasizing that streetball is more about self-expression and social interaction than competition [2] - The free basketball courts are funded through the sales of his brand, and Deng Dan also donates sports equipment to rural schools, highlighting his commitment to social value over economic gain [3][4]

Core Insights - The upcoming 15th National Games in Guangzhou is driving a surge in sports consumption in the Guangdong-Hong Kong-Macao Greater Bay Area [1][2] - Guangdong's sports industry sales revenue grew by 14.5% year-on-year in the first three quarters of 2025, significantly outpacing the average growth rate of the province's service industry by 10.3 percentage points [1] - The number of invoiced entities in Guangdong's sports industry increased by 12.1% year-on-year, indicating a growing influx of businesses into the sector [1] Manufacturing Sector - In the manufacturing sector, Guangdong's sports goods manufacturing sales revenue rose by 7.7% year-on-year, exceeding the average growth rate of the province's manufacturing industry by 1.9 percentage points [2] - Sales of ball manufacturing increased by 14.9%, driven by major sporting events that promote public fitness [2] - The manufacturing of sports protective gear saw a significant growth of 17.6%, with smart protective gear emerging as a new growth point [2] Service Sector - The sports venue management industry in Guangdong experienced explosive growth, with sales revenue increasing by 80.8% year-on-year [2] - Revenue from sports competition organization and fitness leisure activities grew by 10.5% and 5.4% respectively, indicating an ongoing optimization of sports service supply [2] Infrastructure Investment - To support the successful hosting of events and meet the growing demand for sports and fitness among the public, Guangdong is increasing investment in sports facility construction [2] - Sales revenue from engineering construction and installation of sports facilities grew by 47.9% and 29.1% year-on-year, respectively [2] Tax Policies - The Guangdong Provincial Taxation Bureau is actively compiling a "Support for the Sports Industry Tax and Fee Policy Compilation" to empower the development of the sports industry through targeted tax policies [2] - The tax authority aims to enhance compliance management and create a better tax business environment to support the high-quality development of Guangdong's sports industry [2]

Company Overview - The company reported a decline in retail sales for the Li Ning brand (excluding Li Ning YOUNG) in Q3 2025, with a year-on-year decrease in retail revenue in the mid-single digits, while net retail points increased by 33 during the quarter [1] - The weak retail environment in Q3 2025 negatively impacted sales performance, with deeper discounts year-on-year and increased inventory due to preemptive stocking [1] Sales Performance - Retail pressure intensified from July to September 2025, with the direct sales channel benefiting from outlet support and proactive adjustments, resulting in a mid-single-digit decline in retail revenue, which was better than the high single-digit decline in the wholesale channel [1] - Online channel revenue showed a year-on-year increase in the mid-single digits [1] - Key growth drivers included running, fitness, and badminton, with running and fitness achieving low single-digit revenue growth year-on-year, while basketball and lifestyle categories faced relative pressure [1] Inventory and Discount Strategy - To address weak sales, the company proactively adjusted its terminal strategy, resulting in a low single-digit increase in overall channel retail discounts year-on-year, with direct and online channels experiencing a greater increase than wholesale [1] - By the end of September, the inventory-to-sales ratio reached 5-6 times, indicating a healthy inventory structure, with management expressing confidence in returning to a healthy level of 4-5 times by year-end [1] Future Outlook - In Q4 2025, the company plans to focus on the Olympic and sports technology themes to enhance brand momentum and support sustainable growth, while iterating and updating product lines in running, basketball, cross-training, and outdoor categories [2] - The retail side will further balance sales, discounts, and inventory management to maintain a healthy inventory level, despite ongoing sales pressure [2] Earnings Forecast and Valuation - The company maintains its EPS forecasts for 2025 and 2026 at 0.92 and 1.07 CNY, respectively, with the current stock price corresponding to 18 and 15 times the 2025 and 2026 P/E ratios [2] - The company retains an outperform rating and target price of 22.68 HKD, which corresponds to 23 and 19 times the 2025 and 2026 P/E ratios, indicating a 25% upside potential from the current stock price [2]

Group 1 - The 15th National Games attracted a total of 22,139 participants from 73 representative units, with 37 delegations competing [1] - Guangdong topped the delegation scale with 1,693 participants, followed by Shandong (1,538), Jiangsu (1,408), and Shanghai (1,397) [1] - The Hong Kong delegation, with 913 participants, ranked in the top ten, alongside mainland delegations from Beijing and Hubei, while the Macau delegation had 430 participants [1] Group 2 - Football had the highest participation with 2,565 athletes, followed by athletics (1,255) and basketball (1,080) [1] - Boxing was the most favored event in terms of unit participation, with 40 units competing, followed by fencing (39) and athletics (35) [1] - The gender ratio among the 14,253 athletes was nearly balanced, with 7,386 males and 6,867 females [2]