以下文章来源于新周刊 ，作者阿肉 新周刊 . 中国最新锐的生活方式周刊。 这场由"一根毛"引起的涨价潮背后，不仅是产业链的重构，更是一场关于全民运动普惠性的考验。当三桶球的价格抵得上一克黄金的时候，无论多么热爱，我们也不 得不重新掂量自己的财力。 文 ｜ 阿肉 编辑 ｜ 安菲尔德 来源｜ 新周刊（ID：new-weekly） 封面来源 ｜ Pixabay 羽毛球曾经是普及率极高的国民运动，但现在，就连近年让运动消费市场暴涨的城市中产们，都开始觉得"高攀不起"了。 今年7月，包括尤尼克斯、威克多在内，几家知名品牌旗下的几款热门羽毛球产品，均有不同程度涨价，每桶涨价约30—40元。 因为短期内的频繁涨价，三大厂目前成为了不少消费者吐槽的对象。但也有一部分消费者受涨价影响开始默默"囤球"，为涨价未雨绸缪的同时，反向带动了 羽毛球的销量。 谁能想到，曾经以性价比著称的羽毛球，会成为新晋"理财产品"。（图/社交平台截图） 观研天下发布的《2021年中国羽毛球市场分析报告》显示，中国羽毛球参与人数在2021年就已超过2.5亿，这意味着大约每5-6个中国人中，就有1人参与过 这项运动。 羽毛球爱好者小虎告诉《新周刊》，最早 ...

记者丨唐唯珂 编辑丨骆一帆 "中产标签"MUJI无印良品店面也开始收缩。 近日，北京世茂工三商场的无印良品（MUJI）门店门口贴出"闭店通知"，宣布将于8月31日正式停止营 业。 网友晒出门店张贴的"闭店通知"显示，闭店时间2025年8月31日，退换货服务请往MUJI北京世贸天阶 店，"很遗憾通知大家，MUJI世茂工三店即将关闭，由此给您造成的不便，敬请谅解。我们在这个城市 还设有34家门店，诚意邀请您到店选购。" 对于关店情况，无印良品方面表示："个别的闭店只是MUJI基于经营效率进行的正常调整，面对部分商 圈人流下降的挑战，MUJI会对经营效益不佳的门店做出取舍。MUJI中国目前坚持每年开40家左右门 店，3月1日至今MUJI新开了15家店铺。" 通知提醒消费者，如需退换货可前往距离约3公里的世贸天阶店。此次闭店并非今年首例，早在上半 年，北京国瑞城店也已闭店。 面对近期多家门店关闭引发的关注，无印良品方面回应称属于"正常的运营调整"，并重申中国市场的重 要性。另一方面，闭店潮的背后，消费者对其"高价低质"的持续诟病以及本土竞争对手的强势崛起，成 为新的市场变局。 本土品牌"围剿" 公开资料显示，1980 ...

Core Viewpoint - MUJI is experiencing a store closure trend in China, attributed to operational adjustments and increased competition from local brands offering better price-performance ratios [1][2][3]. Group 1: Store Closures and Operational Adjustments - MUJI announced the closure of its store in Beijing's Shimao Gong 3 Mall, effective August 31, 2025, citing operational efficiency as the reason for the closure [1]. - The company maintains that it plans to open approximately 40 new stores annually, having opened 15 stores since March 1, 2025 [1]. - The closure of the Shimao Gong 3 store is not an isolated incident, as another store in Beijing's Guorui City also closed earlier in the year [1]. Group 2: Market Competition and Consumer Sentiment - The rise of local brands such as Miniso and Netease Yanxuan has intensified competition, with these brands offering similar products at significantly lower prices, often 1/3 to 1/2 of MUJI's prices [2][3]. - Consumer dissatisfaction with MUJI's pricing and perceived quality has been growing, with complaints about high prices not matching product quality [6][7]. - A notable example includes a consumer comparison where a similar scented machine costs 59 yuan from a local brand versus MUJI's price of 258 yuan [7]. Group 3: Legal Challenges and Brand Identity - MUJI has been embroiled in a long-standing trademark dispute with Beijing Cotton Field Textile Co., which has further complicated its brand identity in China [4][5]. - The Supreme People's Court upheld Beijing Cotton Field's ownership of the "MUJI" trademark for home textiles, which has led to brand confusion and diminished MUJI's unique market position [5]. Group 4: Future Outlook - Industry experts suggest that MUJI may need to adapt its business model to focus on price competitiveness and faster fulfillment to survive in the evolving retail landscape [8]. - The company may face further store closures if it does not adjust its pricing strategy and operational model to better compete with local alternatives [8].

今年暑假，渚河路小学开展的体育活动格外热闹。羽毛球的轻盈、乒乓球的灵动、篮球的跃动，交织成 一曲充满活力的运动乐章，奏响在每一个家庭之中，将平凡的假期点缀成充满欢笑与汗水的运动篇章。 王宁 在家中庭院、小区空地、社区广场或羽毛球馆，许多家庭把羽毛球活动纳入日常，欢呼声里满是亲情。 同学们三五成群自发成组，在练习中相互切磋、共同提升球技，也收获了珍贵的友谊。 有的孩子站在桌前，专注地盯着乒乓球，小小的球拍在手中灵活挥舞；有的孩子在篮球运动中尽情挥洒 汗水，运球时的沉稳、传球时的默契、投篮时的专注，每一个动作都迸发着蓬勃的力量。 那些在羽毛球场上的跳跃、乒乓球台前的专注、篮球架下的呐喊、足球场上的奔跑，正不断为孩子们的 成长增添光彩。 （来源：邯郸晚报） ...

Core Viewpoint - Li Ning Company Limited reported steady revenue growth in the first half of 2025, with a revenue of 14.817 billion RMB, an increase of 3.3% compared to the same period in 2024 [2] Financial Performance - The company's gross profit reached 7.415 billion RMB, up 2.5% year-on-year, with an overall gross margin of 50.0%, a decrease of 0.4 percentage points from the previous year [2] - Profit attributable to equity holders was 1.737 billion RMB, down from 1.952 billion RMB in the first half of 2024, resulting in a profit margin of 11.7% [2] - Basic earnings per share were 0.6743 RMB, compared to 0.7580 RMB in the same period last year [2] - The interim dividend declared was 0.3359 RMB per share, down from 0.3775 RMB in the previous year, with a payout ratio of 50% [2] Cash Flow Management - The net cash generated from operating activities was 2.411 billion RMB, a decrease from 2.730 billion RMB in the first half of 2024 [3] - As of June 30, 2025, cash and cash equivalents amounted to 11.798 billion RMB, an increase of 4.299 billion RMB from December 31, 2024 [3] - The total cash balance, including fixed deposits, was 19.190 billion RMB, reflecting a net increase of 1.050 billion RMB [3] Operational Overview - The company continued to implement its "single brand, multi-category, multi-channel" strategy, focusing on product upgrades, brand marketing, and channel optimization [4] - Li Ning became the official sportswear partner for the Chinese Olympic Committee and the Chinese sports delegation for the 2025-2028 period, enhancing its brand image [4] - The company focused on six core categories: running, basketball, cross-training, badminton, table tennis, and sports leisure, while also exploring new segments like outdoor sports and tennis [4] Channel Development - Li Ning actively built a multi-dimensional channel network, with a total of 7,534 sales points as of June 30, 2025, a net decrease of 51 from December 31, 2024 [5] - The company emphasized optimizing retail operations and enhancing consumer interaction to improve brand penetration and product efficiency [5] E-commerce and Supply Chain - The company maintained a steady operational strategy in e-commerce, leveraging online and offline synergies to drive growth [6] - Significant improvements were made in supply chain management, focusing on quality control, delivery assurance, and cost optimization [6] Children's Wear Business - Li Ning YOUNG made steady progress in product optimization, channel development, and brand marketing, with a total of 1,435 sales points as of June 30, 2025, a net decrease of 33 from December 31, 2024 [7] Future Outlook - The company plans to continue executing its core strategy while enhancing product competitiveness and focusing on high-growth potential markets [8] - Li Ning aims to deepen its collaboration with the Chinese Olympic Committee and enhance its professional sports image through targeted marketing activities [8] - The company will focus on improving business quality and efficiency across channels, products, and supply chains [9] - Key support areas include talent development, financial governance, and digital empowerment to ensure sustainable growth [9]

8月19日，国家体育总局局长高志丹在发布会上表示，狠抓行风建设，提升体育治理能力和水平。以"假 赌黑"治理为契机，重拳整治足球、象棋等项目发展乱象，开展马拉松、山地越野等专项整顿，维护体 育行业秩序。以《体育法》修订为契机，完善体育法律和行业标准体系，健全体育纠纷解决机制，持续 提高体育行业法治化规范化水平。 扎实推进足球改革振兴，深入开展"假赌黑"治理。 高志丹表示，国家体育总局扎实推进足球改革振兴，理顺体制机制，深入开展"假赌黑"治理，足球工作 逐步走上了良性发展的轨道。 高志丹指出，"十五五"期间，随着经济社会发展，广大人民群众对田径、游泳、"三大球"等项目的期望 越来越高，我国综合国力不断提升也为竞技体育全面均衡发展提供了更为坚实的保障。在从体育大国、 奥运强国向体育强国迈进的新征程上，体育总局提出"633"发展战略，也就是以跳水、举重、体操、射 击、乒乓球、羽毛球六个优势项目，田径、游泳、水上三个基础大项，足球、篮球、排球"三大球"为引 领，巩固优势项目优势地位，提升基础大项竞技实力，推动"三大球"振兴发展，带动其他项目水平提 高，促进各项目均衡发展，不断提高竞技体育综合实力和为国争光能力。 ...

Core Viewpoint - MUJI is experiencing a significant contraction in its retail presence in major urban areas, with multiple store closures indicating struggles with profitability and competition from local brands [6][11][17]. Group 1: Store Closures - MUJI has announced the closure of several stores, including the Beijing Shimao Gong San store, which will cease operations on August 31, 2025 [6][8]. - Other notable closures include stores in Beijing, Shanghai, Ningbo, Jinan, and Suzhou, reflecting a broader trend of retreat from key commercial districts [11][17]. - The company claims these closures are part of a normal adjustment process to improve operational efficiency in response to declining foot traffic in certain areas [17]. Group 2: Pricing and Quality Issues - MUJI's pricing strategy has come under scrutiny, with consumers questioning the high prices of products that are often manufactured in China [18][22][23]. - There have been numerous complaints regarding product quality, with customers reporting issues such as broken luggage handles and defective clothing [36][41][49]. - The company has faced administrative penalties related to product quality, indicating ongoing challenges in maintaining standards [50]. Group 3: Market Competition - Since 2015, MUJI has seen a slowdown in same-store sales growth in China, with negative growth reported in 2018 [52]. - The company has attempted to adjust its strategy by lowering prices and increasing localization efforts, including the establishment of a separate China division [54]. - Despite recent sales growth, the competitive landscape has intensified with the emergence of local brands offering similar products at lower prices, posing a significant challenge to MUJI's market position [57][60]. Group 4: Financial Performance - MUJI's parent company reported a 19.2% increase in sales to 591.09 billion yen (approximately 28.71 billion RMB) for the nine months ending May 31, 2025, with a 30.1% increase in net profit [55]. - The company has opened 414 stores in China, with a notable increase in sales from direct retail and e-commerce channels [55].

Core Viewpoint - MUJI is experiencing a significant contraction in its retail presence in China, with multiple store closures in major cities, attributed to high pricing, quality disputes, and the rise of local competitors [3][4][8]. Group 1: Store Closures - MUJI has announced the closure of several stores, including the Beijing Shimao Gong San store, which will cease operations on August 31, 2025 [5][7]. - Other stores that have closed include locations in Beijing, Shanghai, Ningbo, Jinan, and Changsha, indicating a broader trend of store reductions [8][14]. - The company claims these closures are part of a normal adjustment to improve operational efficiency in response to declining foot traffic in certain shopping districts [14]. Group 2: Pricing and Quality Issues - Consumers have raised concerns about MUJI's pricing, with many questioning why products manufactured in China are priced so high, such as a 32 yuan loofah and a 42 yuan nail clipper [17][20]. - Quality issues have also been reported, with customers sharing negative experiences regarding product durability, such as luggage handles breaking after minimal use [28][30]. - MUJI has faced administrative penalties related to product quality, indicating ongoing challenges in maintaining brand trust [42]. Group 3: Competitive Landscape - Since 2015, MUJI's same-store sales growth in China has slowed, with negative growth reported in 2018 [44]. - In response to market pressures, MUJI has implemented a series of price reductions over the years, with some products seeing price cuts of up to 50% [45][46]. - The rise of local brands like Miniso and NǒME, which offer similar styles at lower prices, has intensified competition for MUJI in the Chinese market [48].

Core Viewpoint - MUJI is experiencing a significant contraction in its retail presence in China, with multiple store closures in major cities, indicating challenges in maintaining profitability and competitiveness in the market [5][6][8]. Group 1: Store Closures - MUJI has announced the closure of several stores, including the Beijing Shimao Gong San store, which will cease operations on August 31, 2025, and other locations such as Beijing Guorui City and Shanghai Zhengda Lecheng [6][8][14]. - The company has stated that these closures are part of a normal adjustment to improve operational efficiency in response to declining foot traffic in certain shopping districts [14]. - Despite the closures, MUJI plans to continue expanding in China, aiming to open approximately 40 new stores annually, with 15 new openings reported since March 1 [14][41]. Group 2: Pricing and Quality Issues - MUJI faces ongoing criticism regarding its pricing strategy, with consumers questioning the high prices of products that are often manufactured in China [16][20][27]. - Quality concerns have also emerged, with reports of product failures and administrative penalties related to quality issues, which have damaged the brand's reputation [30][37][38]. - The company has attempted to address these issues through a series of price reductions over the years, with some products seeing price cuts of up to 50% [40][41]. Group 3: Competitive Landscape - Since 2015, MUJI has seen a slowdown in same-store sales growth in China, culminating in negative growth by the second quarter of 2018 [40]. - The rise of local competitors offering similar products at lower prices, such as Miniso and NǒME, has intensified competition and challenged MUJI's market position [41][42]. - Despite recent sales growth, the company acknowledges that it must continue to adapt to rapidly changing consumer demands and preferences in the Chinese market [41][42].

Core Viewpoint - MUJI is experiencing a significant contraction in its retail presence in China, with multiple store closures in major cities, indicating challenges in maintaining profitability and market relevance [4][5][12]. Group 1: Store Closures - MUJI has announced the closure of several stores, including the Beijing Shimao Gong 3 store, which will cease operations on August 31, 2025, and has already closed locations in other cities such as Shanghai and Changsha [6][8]. - The company has stated that these closures are part of a normal adjustment to improve operational efficiency in response to declining foot traffic in certain shopping districts [12]. - Despite the closures, MUJI plans to continue opening approximately 40 new stores annually, having opened 15 new locations since March 1 of the current year [12]. Group 2: Pricing and Quality Issues - MUJI's pricing strategy has come under scrutiny, with consumers questioning the high prices of products that are often manufactured in China, leading to a perception of poor value [16][19][22]. - Quality concerns have also been raised, with customers sharing negative experiences regarding product durability and customer service, which has led to administrative penalties for the company related to product quality issues [30][33]. - The brand's shift from a "plain brand" to a mid-to-high-end positioning in China has not resonated as strongly with consumers in recent years, leading to a decline in sales growth [22][35]. Group 3: Market Competition - Since 2015, MUJI has faced slowing same-store sales growth in China, with the first negative growth recorded in the second quarter of 2018 [35]. - The company has attempted to adapt by implementing price reductions and localizing its product offerings, which has resulted in a notable increase in sales, with a 19.2% year-on-year growth reported for the nine months ending May 31, 2025 [38]. - However, competition from local brands offering similar styles at lower prices, such as Miniso and NǒME, poses a significant challenge to MUJI's market share [39][42].