文/子木 很多人一听到"自由贸易港"，第一反应就是香港。觉得海南就是要学香港，搞金融，搞低税率，搞房地产。 但这完全没有逻辑。 第一，香港是全球顶级的金融中心，它的地位是历史形成的，是法律体系和货币制度决定的。海南想在金融上取代香港？十年内都没戏。而且香港目前正 在加速融入内地，也很"听话"，没必要再造一个平替，搞无效竞争。 国家做这件事的战略意图非常清晰，野心极大： 再造一个"超级新加坡"。 这两天，海南封关的消息刷屏了。新闻联播在报，朋友圈在转，各种解读满天飞。 这不仅仅是关税的调整，更是中国经济版图的一次重构。今天，我带你透过现象看本质，解剖一下海南封关背后，那盘惊心动魄的"国运棋局"。 很多读者在后台问我："封关是不是意味着以后去海南要办签证了？""以后去海南买iPhone、买LV包包是不是更便宜了？""我是不是该去海南囤几套房？" 看着这些问题，我心情很复杂。因为只看到了最浅的一面。没办法，市面上99%的解读，也都停留在"购物天堂"和"再造香港"的层面。 一、为什么不是香港，而是新加坡？ 其实都是错的。 首先，我们要纠正一个巨大的认知误区。 第二，香港服务业很发达，但工业却严重"空心化"，再让这个寸 ...

Core Viewpoint - Mannings, a well-known beauty retail chain, is set to cease operations in mainland China, marking a significant exit from the market after over 20 years of presence [3][4]. Company Summary - Mannings will officially stop operating its offline stores on January 15, 2026, with its online platforms ceasing operations by December 28, 2025, and December 26, 2025, for various e-commerce platforms [3]. - The brand has struggled to compete in the mainland market, facing challenges from established competitors like Watsons and the impact of e-commerce [4][6]. - Mannings has already begun closing stores in Shenzhen, with only two remaining operational as of now [4]. Industry Summary - The exit of Mannings reflects a broader trend of Hong Kong-based beauty chains facing significant challenges in the mainland market, with Watsons also experiencing a decline in revenue and store closures [6]. - Watsons reported a 3% year-on-year revenue decline in the first half of 2025, with a net closure of 145 stores, reducing its total to 3,630 [6]. - The beauty retail landscape in mainland China is undergoing a transformation, driven by the rise of e-commerce platforms and convenience stores that are capturing market share from traditional chains [7]. - Rising operational costs, including rent and labor, combined with insufficient supply chain efficiency, have further pressured traditional beauty retailers like Mannings [7].

深圳商报·读创客户端首席记者 董思 实习生 郭楚妤 12月16日，万宁中国官网发布了一则关于线下及线上门店停止运营及会员积分处理的公告。根据公告， 万宁线下门店的最后营业日定于 2026年1月15日，届时将正式停止运营；线上万宁官方商城（小程序） 将于 2025 年12月28日24时停止运营，天猫旗舰店、京东旗舰店、天猫保健品专营店则将在12月26日停 运。消息一出，引发关注。 万宁位于深圳福田深业上城门店 12月17日，记者前往深圳福田深业上城门店进行实地探访，店内 "限时五折清仓" 的海报十分醒目，部 分日用品货架已清空，导购员忙于接待客流。据店员透露，该门店将于12月21日正式撤店，这意味着万 宁彻底告别深耕多年的深圳市场。 深耕内地市场二十年 万宁品牌起源于1972年，两位香港药剂师开了三家健与美的药店，并为店铺取名"萬寧"。1976年，牛奶 国际有限公司（简称"牛奶公司"）购入了51%万宁的股份。牛奶公司为怡和集团的成员之一，不仅万 宁，牛奶公司在香港还经营惠康超级市场、7-11便利店、美心等多个连锁品牌。 万宁中国官网信息显示，万宁于2004年进入内地市场，在广州开设首家新店，此后在国内的开拓逐步 ...

12月16日，每经小编从万宁中国官网获悉，知名药妆连锁店万宁mannings即将关闭内地所有线下门店及线上商城。 万宁中国公告显示，其线下门店最后营业日为2026年1月15日，之后将正式停止运营；此外，其线上万宁官方商城(小程序)将于2025年12月28日24时停止 运营，而天猫旗舰店、京东旗舰店、天猫保健品专营店则将在12月26日停运。 不过，万宁中国在公告中明确指出，内地门店关闭是公司业务战略调整的需要。 值得注意的是，此次调整并非意味着万宁品牌完全退出内地市场。公告特别说明，跨境业务将继续运营，包括跨境官方商城（小程序）、万宁跨境天猫旗 舰店、万宁跨境京东旗舰店及万宁跨境拼多多旗舰店。 这一区别表明，万宁可能将业务重心从内地实体零售转向跨境电子商务，利用其香港供应链优势，专注于服务内地消费者的跨境购物需求。 公开资料显示，万宁品牌起源于1972年，当时两位香港药剂师开设了三家健与美药店，并为店铺取名"萬寧"。1976年，泛亚洲领先的零售集团牛奶公司购 入了万宁51%的股份，使其成为牛奶集团的一员。 在万宁宣布关闭内地门店后，各地消费者反应不一。有媒体调查发现，杭州、上海目前已无运营的万宁店铺，而东莞则还 ...

万宁中国公告显示，其线下门店最后营业日为2026年1月15日，之后将正式停止运营；此外，其线上万宁官方商城(小程序)将于2025年12月28日24时停止 运营，而天猫旗舰店、京东旗舰店、天猫保健品专营店则将在12月26日停运。 每经编辑｜程鹏 12月16日，每经小编从万宁中国官网获悉，知名药妆连锁店万宁mannings即将关闭内地所有线下门店及线上商城。 图片来源：视觉中国（资料图） 不过，万宁中国在公告中明确指出，内地门店关闭是公司业务战略调整的需要。 值得注意的是，此次调整并非意味着万宁品牌完全退出内地市场。公告特别说明，跨境业务将继续运营，包括跨境官方商城（小程序）、万宁跨境天猫旗 舰店、万宁跨境京东旗舰店及万宁跨境拼多多旗舰店。 这一区别表明，万宁可能将业务重心从内地实体零售转向跨境电子商务，利用其香港供应链优势，专注于服务内地消费者的跨境购物需求。 公开资料显示，万宁品牌起源于1972年，当时两位香港药剂师开设了三家健与美药店，并为店铺取名"萬寧"。1976年，泛亚洲领先的零售集团牛奶公司购 入了万宁51%的股份，使其成为牛奶集团的一员。 2004年，万宁正式进入内地市场。 数据显示，截至2025年 ...

海报制作：方金洋 新华社天津12月10日电（记者尹思源）这几天，中科拜克（天津）生物药业有限公司质量总监孙艳东正 在为即将上线的重组猫干扰素产品忙前忙后。这款二类新兽药产品将于不久之后进入市场，届时将填补 我国国产兽药在这一领域的空白。 在中科拜克不远处，云飞医药研发及生产基地项目建设施工正如火如荼，厂房已经初具雏形。2026年10 月建成投产后，这里将配备化学制药有机合成实验室、药品分析实验室等，致力于打造集生物医药研 发、应用转化于一体的综合性平台。 "作为京津冀协同发展'六链'之一，近年来三地生物医药产业链与供应链融合程度不断加深。难得的时 代机遇让公司有了更广阔的发展空间。"孙艳东说。 云飞生物药业（天津）有限公司董事长张学君介绍，项目开工建设以来，已经与国内外数十家生物医药 企业达成合作意向。"我们与其他国家美妆企业达成产学研合作意向，未来将共同探索'药妆'产品市 场。"张学君说，企业擅长生产制造，但常常面临"找不到门路"的困境。与其它品类的企业合作，将打 开新的合作空间。"我们力争在投产后三年内，年产值达到5亿元。"张学君信心满满地说。 中科拜克是北京中关村孵化的一家科技企业，初创时致力于研发宠物 ...

Group 1 - Long Feng Group has submitted a listing application to the Hong Kong Stock Exchange, with DBS Bank as the sole sponsor [1] - The company operates under the "Long Feng" brand and is a leading retail pharmacy and cosmetics operator in Hong Kong [1] - According to a Frost & Sullivan report, Long Feng Group is the largest retail pharmacy in Hong Kong by retail sales, holding a market share of 5.2% in 2024 [1] Group 2 - Long Feng Group is also the largest cosmetics retailer in Hong Kong by average store SKU, offering approximately 6,500 SKUs per store [1] - As of the last practicable date, the company operates 29 retail stores and various online sales platforms in Hong Kong [1] - The flagship store located in Mong Kok's家乐坊 has a total floor area of approximately 17,500 square feet, making it the largest cosmetics retail store in Hong Kong in 2024 [1]

Group 1 - The core point of the article is that Longfeng Group Holdings Limited has submitted an application to list on the Hong Kong Stock Exchange, with DBS Bank as the sole sponsor [1] - Longfeng Group is a leading chain retailer of drugstore and cosmetics in Hong Kong, operating under the "Longfeng" brand [1] - According to a report by Frost & Sullivan, Longfeng Group is projected to be the largest pharmaceutical retailer in Hong Kong by retail sales in 2024, holding a market share of 5.2% [1] - The company is also the largest cosmetics retailer in Hong Kong based on the average number of SKUs available per store, with approximately 6,500 SKUs per store [1] - As of the latest practical date, Longfeng Group operates 29 retail stores in Hong Kong and various online sales platforms to provide a wide range of value-for-money products [1] - The flagship store located in Mong Kok's Carrefours has a total floor area of approximately 17,500 square feet, making it the largest drugstore retail store in Hong Kong by total floor area in 2024 according to Frost & Sullivan [1]

Core Viewpoint - Dazhonglin, a leading chain pharmacy, is facing compliance and growth challenges amid a recent scandal involving the misuse of medical insurance cards and a strategic shift towards cosmetics and personal care products [1][2]. Group 1: Compliance Crisis - A recent investigation revealed that some Dazhonglin stores misclassified everyday items as medical devices to bypass insurance restrictions, indicating significant internal control failures [2]. - The scandal has implications for Dazhonglin's strategy to expand its cosmetics and personal care product lines, as it raises concerns about compliance in a tightening regulatory environment [2]. Group 2: Growth Anxiety - Dazhonglin has expanded its store count to over 16,000, but the traditional growth model of opening new stores is being challenged by e-commerce competition and stricter insurance regulations [3]. - In the first half of 2024, Dazhonglin closed 285 stores while only opening 152 new ones, indicating a shift from quantity to quality in its growth strategy [3]. - Despite a 25.97% increase in net profit in the first three quarters of 2024, revenue growth was only 1.71%, suggesting reliance on franchise operations and new product categories for growth [3]. Group 3: Capital Setbacks and Model Dilemmas - Dazhonglin has faced capital challenges, including the termination of a planned private placement and withdrawal of a convertible bond issuance, reflecting market skepticism about its expansion strategy [4]. - The industry is experiencing a transition where old business models are failing while new ones are not yet stable, complicating Dazhonglin's restructuring efforts [4]. - Although Dazhonglin has developed a three-tier logistics network and is advancing its O2O (online-to-offline) business, uncertainties remain regarding the effectiveness of its transformation amid compliance and supply chain challenges [4]. Conclusion - Dazhonglin's difficulties mirror broader challenges in the chain pharmacy industry, where companies are forced to adapt to declining insurance benefits and online competition while grappling with compliance, supply chain, and capital issues [5]. - The management's ability to balance short-term growth with long-term compliance and establish sustainable models in new business areas will be critical for future success [5].

Core Viewpoint - The Hunan provincial government has introduced measures to promote the high-quality development of the traditional Chinese medicine (TCM) industry, aiming for a total industry chain output value exceeding 200 billion yuan by 2030 [1][2]. Summary by Sections Industry Overview - Hunan province boasts 4,667 types of TCM resources, ranking first in central China and among the top in the country. By the end of 2024, the area for planting medicinal materials is expected to reach 4.93 million acres, with the total output value of the TCM industry chain surpassing 150 billion yuan [1]. Measures for Development - The newly released measures focus on a complete ecosystem from cultivation to clinical application, enhancing the entire TCM industry chain, which includes seed industry, planting, manufacturing, distribution, application, and integration. Key initiatives include establishing a national medicinal material resource bank and promoting digital processing of medicinal slices [1][2]. Innovation and Integration - The measures emphasize fusion innovation, expanding the "TCM+" value-added space by supporting the development of health products such as medicinal cuisine, cosmetics, functional foods, and health foods. New scenarios like TCM cultural theme parks and wellness tourism bases are also being developed [2]. Policy Integration - The measures integrate various support policies across finance, land, and talent, creating a collaborative framework for implementation. This includes government investment funds, tax incentives, and prioritizing land for industry use, ensuring effective and actionable policies [2].