炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ "国庆、中秋假期期间，来我们店里购买'谷子'（Goods的音译，指周边衍生品）的消费者多了很多，客 流和销量相比往年都有明显提升。"在位于北京市东城区搜秀商城的动漫城内，"谷子"主题店铺的销售 小P热情地向记者介绍。 小"谷子"拉动大消费 消费端的火热，已清晰地传导至资本市场，"谷子经济"的蓬勃已引起资本市场关注。在A股、港股市场 上，涉及IP运营、潮玩生产及零售的相关公司今年以来表现亮眼。 Wind数据显示，截至10月3日，万得谷子经济概念指数今年以来上涨22.51%，指数成分股中，巨人网络 年初至今大涨260.84%，创源股份、光线传媒、欢瑞世纪涨超100%，星辉娱乐涨超80%。港股方面，新 消费龙头泡泡玛特今年以来涨幅达185.39%。 中国银行研究院认为，"谷子经济"快速发展给我国经济增长带来新的活力，相关实体主题店铺（谷店） 和城市打卡地标为线下消费复苏注入新动力。谷子经济未来仍具备较大的发展空间，市场规模将进一步 增长，海外市场依然广阔。 在他身后，印有各类动漫游戏角色形象的徽章、立牌、挂件等"谷子"琳琅满目，顾客们正埋头仔 ...

场馆的核心亮点是钻石中心，这里是华北地区规模最大的专业电竞馆，可容纳约1500名观众。钻石中心 也是北京王者荣耀战队的主场，未来还将承办KPL等顶级赛事。 新京报讯（记者吴婷婷）10月1日，北京亮马河文化经济带再添一座文旅新地标，朝阳公园东侧的微博 IN跨次元引力场正式开业。这是朝阳区首个奥运遗产城市更新项目，吸引了众多二次元北京首店。 微博IN由2008年北京奥运沙滩排球馆改造升级而来。据介绍，在项目建设中，沙滩排球馆的沙子转移 至"阿派朗创造力星球"亲子乐园，在乐园里，源自北京奥运会的沙子将带给孩子们新的乐趣。 如今拔地而起的场馆充满着时尚气息，外立面超600平方米的LED巨幕呈现出极具未来感的视觉体验。 新开业的二次元商店开门迎客，年轻的消费者们在这里选购"谷子"。记者发现，开业当天，不少商户都 推出9.5折左右的优惠。 朝阳公园相关负责人介绍，微博IN是亮马河文化经济带规划建设的最新成果，它将与泡泡玛特城市乐 园、阿派朗创造力星球、贝壳剧场，以及正在规划建设的摩天轮等项目共同筑起集文化、娱乐、体育、 艺术、潮流、数字等多元业态于一体的城市公共空间。据介绍，微博IN首店占比超过30%，面积占比超 过50 ...

央视网消息：金秋十月，秋风送爽，稻谷飘香。在湖北潜江，连片的稻浪翻涌如潮，智能收割机循着预设路径穿梭作业，轰鸣声里满是丰 收的节奏。 在潜江老新镇秀河村，万亩稻田被秋日的阳光镀上金辉，饱满的稻穗垂弯了稻秆，风过时掀起层层金色涟漪；智能收割机割稻、脱粒、秸 秆回收一气呵成，在北斗导航系统的辅助下，运行精准、效率高。 粮食丰收，烘干是"保鲜锁产"的关键，在老新镇秀河村的烘干中心，多台智能烘干机满负荷运转，稻谷在温控系统里匀速翻滚，湿度传感 器实时调节烘干参数。为了全方位保障水稻丰产，为粮食颗粒归仓筑起坚实屏障，当地相关部门组建服务队，深入田间地头和烘干企业，对设 施设备逐一检测，排查潜在隐患。 近年来，潜江市以智慧农业为抓手，推进高标准农田建设，2025年以来累计投入8000万元用于各设施设备升级，让智能灌溉、精准施肥等 智慧农业技术落地见效，为秋收满仓注入科技动力。 吉林梨树：200万亩玉米秋收工作全面展开 这段时间，吉林四平梨树县的玉米秋收工作正式启动，当地采用新型耕作技术，推动农业机械化、标准化生产，助力粮食稳产增收。 在梨树县一处专业合作社的田地里，多台大型联合收割机正在进行玉米收割作业。今年，合作社种植 ...

9月24日，收割机在甘肃省张掖市山丹县位奇镇暖泉村收割谷子。 秋分时节，地处祁连山北麓、河西走廊中段的甘肃省张掖市各种作物陆续成熟，农民开始收获，田间一派丰收景象。 新华社发(陈礼摄) ...

Core Viewpoint - The article highlights the harvesting of millet in Luoyang, Henan, indicating a significant agricultural activity in the region [1][2][3][4][6][8] Group 1 - The millet harvest is a crucial event for local farmers, marking the end of the growing season and the beginning of the collection process [1][2] - The article emphasizes the importance of millet as a staple crop in the region, contributing to local food security and economic stability [3][4] - The harvesting process involves the use of modern machinery, which enhances efficiency and productivity for farmers [6][8] Group 2 - The article notes that favorable weather conditions have contributed to a good yield this year, which is expected to benefit the local economy [2][4] - Local authorities are supporting farmers through various initiatives to improve agricultural practices and increase crop yields [3][6] - The millet harvest is anticipated to have a positive impact on the livelihoods of farmers and the overall agricultural sector in Henan [1][8]

Group 1: Agricultural Production - The white dew season marks the beginning of the harvest for millet in regions like Inner Mongolia and Shandong, with advanced machinery enhancing efficiency and yield [3] - In Jiangxi's Yongxin County, over 3000 agricultural machines are deployed for the harvest of 21.78 million mu of medium rice, achieving a mechanization rate of 85.6% [3] - Walnut harvesting is underway in provinces such as Zhejiang, Anhui, Xinjiang, and Hubei, with collaborations between local farms and research institutions to develop efficient harvesting machinery [4] Group 2: Technological Innovations - In Hebei, a walnut harvesting robot is being tested, utilizing AI for precise identification and harvesting of walnuts, indicating advancements in agricultural robotics [4] - The development of a winter jujube harvesting robot by Harbin Institute of Technology and enterprises showcases the integration of technology in fruit harvesting processes [5]

Core Viewpoint - The podcast "基会来了" discusses the future of new consumption in China, questioning whether it is a fleeting trend or a sustainable growth opportunity [4]. Group 1: New Consumption Trends - New consumption companies often start with high valuations due to uncertainty about their growth potential, but they may face significant price declines if they fail to establish a solid market presence [5]. - A systematic understanding of the industry’s business model is crucial, particularly the presence of scale effects, as industries without them tend to become increasingly fragmented [5]. - The long-term success of consumer goods relies heavily on brand strength, with high gross margins indicating strong pricing power [5]. Group 2: Understanding Consumer Behavior - The 80s generation fund managers can still effectively study the consumption patterns of younger generations by recognizing industry trends and conducting thorough research [7]. - Observing new trends and being open to understanding them is essential for investment research, even if the researcher is not part of the target consumer group [7]. - Engaging with industry leaders and analyzing market data can provide valuable insights into consumer preferences and market dynamics [9]. Group 3: Consumption Dynamics - Current consumer behavior reflects a generational shift, with younger consumers displaying confidence in their purchasing decisions, prioritizing product quality and value over brand prestige [10]. - Economic growth in consumption is fundamentally linked to rising household incomes, making income growth a prerequisite for sustained consumption growth [10]. Group 4: Competitive Advantage in Global Markets - Chinese consumer brands have shown significant competitive advantages in international markets, particularly in gaming, where they have adapted products to local cultures and achieved substantial success [13]. - The success of Chinese products abroad challenges the notion that cultural differences would hinder market acceptance, as many products have thrived in Western markets [16]. Group 5: Promising Consumption Segments - Key areas for future investment include international expansion of companies, modern consumer categories like self-care products, gaming, and the pet economy, as well as the technology and AI sectors [18].

Core Insights - The "Guzi Economy" is gaining momentum, driven by the popularity of cultural IPs and the growing consumer base, particularly among Generation Z and younger demographics [2][3][4] - The success of the animated film "Wang Wang Mountain Little Monsters" has significantly boosted the sales of related merchandise, indicating the strong market potential of IP-derived products [1][2] - The "Guzi" consumer group is expanding beyond its original demographic, attracting interest from older generations and becoming a significant cultural phenomenon [2][4] Industry Trends - The "Guzi Economy" is characterized by a robust industrial chain that includes IP development, manufacturing, and retail, with a focus on emotional value and community engagement [2][6] - The rise of domestic IPs like "Genshin Impact" and "Black Myth: Wukong" has fueled consumer enthusiasm, particularly among younger audiences, and has led to cross-industry collaborations [3][6] - The market is seeing a shift towards personalized and customizable products, facilitated by advancements in manufacturing technologies [6][9] Market Opportunities - The "Guzi Economy" presents new opportunities for businesses, particularly in the realms of tourism and cultural events, which can attract younger consumers [9][10] - There is potential for establishing connections between the "Guzi Economy" and the "First Release Economy," enhancing consumer engagement through limited edition products [8][10] - Regions like Hainan can leverage their unique advantages to promote the "Guzi Economy," attracting both domestic and international consumers [9][10] Consumer Behavior - The social aspect of "Guzi" consumption is significant, as it fosters community connections and emotional expression among consumers [3][4] - The pricing of "Guzi" products is generally accessible, appealing to the desire for individuality and self-expression among younger consumers [3][4] - Parents of Generation Z are increasingly supportive of "Guzi" consumption, viewing it as a means for their children to express themselves and relieve academic pressure [4][10]

Group 1 - The "Guzi Economy" in China is projected to reach a market size of 168.9 billion yuan in 2024, with expectations to grow to 308.9 billion yuan by 2029, indicating a sustained upward trend in consumer spending on related products [3] - The rise of "Guzi" consumption has negatively impacted traditional apparel sales, as consumers shift their spending towards "Guzi" products, leading to a decline in clothing performance [3][5] - Among 32 listed apparel companies, 44% reported losses in the first half of 2025, with 59% experiencing a decline in performance, highlighting significant challenges in the apparel sector [5] Group 2 - In the sportswear segment, 5 out of 6 companies reported growth, with Anta, Li Ning, and Xtep International showing varying degrees of sales increases [6][9] - Anta's retail sales are expected to see mid-single-digit growth, while FILA is projected to achieve high-single-digit growth, indicating strong performance in the sportswear market [9] - 361 Degrees reported a revenue increase of 11% year-on-year, while Sanfu Outdoor also showed significant profit growth [9][10] Group 3 - The men's apparel sector is struggling, with 6 out of 10 companies reporting losses, while China Lilang remains the most profitable with a net profit of 243 million yuan [11][12] - Nine Mu Wang is expected to see a substantial profit increase of 200% to 260%, contrasting with other brands that are facing losses [12] - The women's apparel sector is performing relatively better, with only 1 out of 7 companies reporting a loss, and notable growth from brands like Langzi and Xinhe [16][18] Group 4 - The children's clothing segment is facing challenges, with all three companies reporting losses, while the lingerie sector is also experiencing declines [24][25] - The footwear and bag categories are similarly struggling, with 4 out of 6 companies reporting losses, although Tian Chuang Fashion successfully turned a profit [28][32] Group 5 - Apparel companies are actively seeking new growth avenues by optimizing online and offline channels, with some successfully reducing losses through strategic adjustments [34] - Leading companies are exploring flagship store models to enhance growth, with 361 Degrees and Taiping Bird launching innovative retail formats to attract consumers [35][37] - The focus remains on creating appealing products and effectively positioning them in the market to resonate with consumer preferences and brand loyalty [38]

Group 1 - The core viewpoint of the news is the strategic collaboration between Yuewen Group and "Honor of Kings" to launch a "National Creation Content Strategic Cooperation Plan," featuring the integration of the IP "The Master of Mysteries" with new skins and merchandise [1] - The collaboration marks the first time that merchandise and skins are launched simultaneously, showcasing a strong synergy between the two world-class IPs [1] - The merchandise includes a variety of products such as tin badges, laser tickets, acrylic color paper, acrylic stands, and magnetic metal badges, representing the most diverse and abundant range of products launched alongside a new skin in "Honor of Kings" [1] Group 2 - Yuewen Group reported a net profit of 850 million yuan for the first half of 2025, reflecting a year-on-year growth of 68.5% [2] - The IP derivative business of Yuewen demonstrated strong growth momentum, with a GMV of 480 million yuan in the first half of the year, nearing last year's total [2] - The company plans to continue deepening its presence in the derivative product sector, aiming to capture a larger market share in the billion-level market [2]