如今，农场250多亩土地上，丝瓜、玉米、茄子等作物长势喜人。"我们的丝瓜更脆嫩，客户回购率特别 高，市场供不应求。"余世明透露，预计农场全年总产值有望突破100万元，相较去年实现显著增长。 日前，走进桐庐县百江镇联益家庭农场，只见占地30亩的贝贝南瓜藤上果实累累，数十名工人手脚麻利 地采摘贝贝南瓜并装箱。 农场显著的昼夜温差配合优质山泉水灌溉，赋予了农产品独特的品质优势。"别瞧这贝贝南瓜个头只有 巴掌大小，可它口感粉糯，刚上市就被预订一空。"农场负责人余世明言语间满是自信。他介绍，今年 农场首次试种贝贝南瓜，凭借绵密细腻的独特口感迅速打开市场，亩产值突破万元大关。 这亮眼成绩单的背后，是农场创新的"订单农业"模式。"我们和大隐供应链、杭州勾庄市场建立长期合 作，能够依据市场需求，种植畅销产品。"余世明表示，通过"以销定产"，农场不仅能精准把控品质， 还能规避滞销风险。 采收现场，74岁的村民金根囡熟练地码齐最后一层南瓜，这是她在农场干活的第4个年头。"在家门口干 活，既能照料孙子，收入也不错，老板对我们很照顾。"金根囡擦着脸上的汗水说道。像她这样的本村 雇工，农场里有30多人，去年人均增收超3万元。特别值得一 ...

报告原因：有业绩公布需要点评 增持（维持） 上 市 公 司 公 司 研 究 / 公 司 点 评 商贸零售 2025 年 07 月 02 日 孩子王 (301078) ——净利润高增，多举措驱动新发展 | 市场数据： 2025 年 07 月 02 日 | | | --- | --- | | 收盘价（元） | 13.30 | | 一年内最高/最低（元） | 17.75/4.85 | | 市净率 | 4.2 | | 股息率%（分红/股价） | 0.53 | | 流通 A 股市值（百万元） | 16,687 | | 上证指数/深证成指 3,454.79/10,412.63 | | | 注："股息率"以最近一年已公布分红计算 | | | 基础数据: | 2025 年 03 月 31 日 | | --- | --- | | 每股净资产（元） | 3.19 | | 资产负债率% | 56.32 | | 总股本/流通 A 股（百万） | 1,262/1,255 | | 流通 B 股/H 股（百万） | -/- | 一年内股价与大盘对比走势： 07-02 08-02 09-02 10-02 11-02 12-02 01-02 ...

Performance Forecast - The company expects a net profit of between 119.64 million and 159.52 million yuan for the current reporting period, representing a year-on-year growth of 50% to 100% [1] - The net profit attributable to shareholders is projected to be between 96.07 million and 120.09 million yuan, indicating a year-on-year increase of 60% to 100% [1] Strategic Initiatives - The company is focusing on a "three expansions" strategy, emphasizing "repurchase, franchise, and local digitalization" to enhance store upgrades and supply chain optimization [1] - The company has accelerated the development of a franchise model in lower-tier markets, with over 200 stores either operational, under construction, or in planning, aiming to create a new growth curve [2] Mergers and Acquisitions - The company has completed the acquisition of Zhuhai Siyi Industrial Development Co., a leader in the hair care sector, which will enhance synergy in membership operations, market layout, and channel sharing [2] AI Integration - The company is increasing collaboration in AI, partnering with Beijing Volcano Engine Technology to establish an AI hardware incubator, and has launched a series of AI emotional companion dolls [3]

证券研究报告|公司点评报告 [Table_Date] 2025 年 07 月 01 日 [Table_Title] 25H1 业绩同比增长 50%-100%，加码新业态、 新渠道、新品类 [Table_Title2] 孩子王(301078) | [Table_DataInfo] 评级： | 增持 | 股票代码： | 301078 | | --- | --- | --- | --- | | 上次评级： | 增持 | 52 周最高价/最低价： | 17.75/4.85 | | 目标价格： | | 总市值(亿) | 167.18 | | 最新收盘价： | 13.25 | 自由流通市值(亿) | 166.25 | | | | 自由流通股数(百万) | 1,254.69 | [Table_Summary] 事件概述： 公司发布 2025 年上半年业绩预告。公司预计 2025 上半年实现归母净利润 11,963.93 万元-15,951.91 万元，同 比增长 50%-100%，中值 13958 万元，同比增长 75%；实现扣非归母净利润 9,607.28 万元-12,009.10 万元，同 比增长 60%-100%，中 ...

中医推介"荔枝 煲鸡"火爆全 网！ 网友：没 有一样水果可以 逃出广东人的餐 桌_南方+_南方 plus " 荔枝在广东被 热辣滚烫了！ " " 煲不了，因为 拨一个吃一个， 拨两个吃一 对。 " 近日，一则佛山 市第二人民医院 中医科副主任中 医师林锦春教大 家用荔枝煲鸡汤 的视频走红网 络，短短几天在 南方农村报微信 视频号播放量就 突破400万次。 视频发布后，全 国网友争相效 仿。这股热潮背 后，是广东荔枝 与养生美食文化 的完美邂逅。 0:00 (中医荔枝煲鸡火爆全网！?网友：没有一样水果可以逃出广东人的餐桌，时长共17秒) " 没有一样水果 可以逃出广东人 的餐桌。 " 他也作出专业解 答："荔枝核本 …… "半只鸡，荔枝 10颗左右，红枣 桂圆适量，生姜 两片，这样煲出 来的汤味道可 口，温补气 血……"在视频 中，林医生一边 介绍荔枝煲鸡汤 的食补配方，一 边展示着刚出锅 的汤品：汤色澄 澈见底，荔枝肉 晶莹透亮，散发 出诱人的清甜香 气。 林锦春医生的短 视频精准击中了 当代人对健康饮 食的追求。针对 网友关心的"荔 枝核能不能 吃" 、 "孕妇是否 忌口"等问题， 身无毒还能入 药，有理气 ...

Core Points - The article presents the results of the first batch of food safety inspections for edible agricultural products in Honghuagang District, Zunyi City, revealing various non-compliance issues with specific products [3][4][5] Group 1: Inspection Results - A total of 239 batches of edible agricultural products were inspected, with several batches found to contain pesticide residues exceeding the standard limits [3] - Specific products such as "折耳根" (a type of herb) and "桑葚" (mulberry) were reported to have pesticide residues like "乐果" and "甲拌磷" that exceeded permissible levels [4][5] - The inspection results indicate a need for stricter monitoring and compliance measures in the agricultural sector to ensure food safety [3][4] Group 2: Non-compliance Details - Non-compliance items included pesticide residues such as "氧乐果" and "氟虫腈," which were detected in various products, raising concerns about consumer safety [4][5] - The report highlights specific instances where the detected pesticide levels were significantly above the standard values, necessitating immediate action from regulatory authorities [3][4] - The findings emphasize the importance of regular inspections and the need for producers to adhere to safety standards to protect public health [3][5]

Group 1 - The recent concert by Wang Leehom in Beijing featured nostalgic elements from the 2008 Olympics, highlighting the lasting impact of the Olympic Games on cultural memory and identity [1] - The venues from the Beijing Olympics and Winter Olympics continue to serve diverse functions, showcasing the sustainable development of Olympic heritage [2] - The Olympic mascots, such as "Fuwa" and "Bing Dwen Dwen," have become valuable cultural assets, reflecting the integration of Olympic elements with traditional Chinese culture [2] Group 2 - The Olympic spirit transcends the competition, as evidenced by the ongoing global engagement with the memories of the Beijing Olympics, inspiring dreams and unity [3] - The influence of Olympic heritage is evident in the increased participation in sports among the population, fostering a culture of fitness and self-expression [2] - China's approach to Olympic heritage demonstrates a commitment to cultural confidence and global engagement through sports [2][3]

从网红奶茶首店的现象级打卡到热门IP首展的社群裂变，再到时尚潮牌首秀的破圈传播……一个个首发场景正构筑起消费市场的"顶流密码"。 在首店经济浪潮下，这些承载着创新基因与体验价值的"第一现场"，快速成为品牌激活流量的核心引擎。更为重要的是，场景创新对商业价值的重新定义 ——它们既是吸引消费者投票的"流量磁石"，更是解码新消费时代需求变迁的"商业价值新坐标"。 在万亿母婴童消费市场，"精致育儿"在和"消费理性"发生着激烈碰撞，同样呼唤着首店经济新解法。 6月20日，"孩子王Kidswant Ultra——母婴界的未来式育儿成长超级体验旗舰店"即将在上海徐汇万科广场正式开业。"Ultra"一词源自拉丁语，意为"超 越"，在商业领域常被赋予"极致、超级"的寓意。作为孩子王结合时下火热的谷子经济、AI智能、潮玩IP等情绪价值元素，创新打造的围绕亲子关系的共 同成长空间，全新Ultra店更加注重亲子家庭在育儿过程中的情感价值和情绪体验，传递出新世代父母"育儿=育己"的全新育儿观，也代表着行业最先进的 配置和理念。 Ultra店一经推出便引发业界及亲子家庭的高度期待，其更年轻潮流的设计风格、更全面细分的超级场景、更顶配前沿 ...

Group 1: Core Strategy and Market Expansion - The company is deepening its "open and boundaryless" strategy with a focus on "three expansions" including short-chain self-operation, a thousand cities and ten thousand stores, same-city instant services, and AI intelligence [1][4] - The launch of the new ultra store in Shanghai marks the company's exploration of IP, community, and technology to transform retail from mere sales to an experience economy centered on "interest socialization and technological companionship" [2][3] - The company aims to open 500 franchise stores by 2025, with 30 already opened and over 100 in preparation, indicating a strong growth trajectory in its franchise business [3][4] Group 2: Investment and Industry Collaboration - The company plans to acquire a 65% stake in Jiangsu Xingsiyu Investment Management Co., enhancing its industrial synergy and resource integration [5][6] - The acquisition of Zhuhai Siyu Industrial Development Co. for RMB 165 million will allow the company to strengthen its market presence and service offerings in the local lifestyle and new family service sectors [6][7] - Earlier, the company acquired a 60% stake in Shanghai Xingyan Biotechnology Co. for RMB 162 million, entering the beauty sector to meet diverse consumer needs [6][7] Group 3: AI Integration and Product Development - The company launched a new AI companion doll, "Abeibei and Friends," which utilizes advanced AI technology for emotional interaction and personalized engagement [8][9] - A strategic partnership with Volcano Engine aims to develop an AI hardware incubator, focusing on smart product selection, demand forecasting, and precise marketing [9][10] - The upgraded KidsGPT system significantly enhances marketing capabilities and customer service, achieving over 95% accuracy in responding to parenting-related inquiries [10] Group 4: Retail Transformation and Ecosystem Development - The company's transformation from a simple product seller to a "retail scene re-creator" and "lifecycle value service provider" reflects a deep restructuring of retail essence [12] - The focus remains on meeting the comprehensive lifecycle needs of parent-child families, creating a ubiquitous service ecosystem [12]

新消费市场关注度显著提升，投资者积极寻找潜力股，但传统龙头公司 的高分红和竞争力亦带来投资机会。华泰证券建议关注能反映未来消费 趋势、提供情绪价值的消费品，如潮玩、黄金珠宝、美妆等。 新消费板块波动性预期增加，但部分龙头公司业绩超预期增长驱动股价 上涨，估值虽不便宜，但相对于未来复合增长率，PEG 小于 1，市场空 间大、竞争力强、产品上限高的公司仍值得重点推荐。 2025 年新消费投资主线包括国货崛起、情绪消费、银发经济及 AI 智能 家居。必选消费方面，重视大市值白马股价值重估，关注 AH 溢价较大 或即将港股 IPO 的大市值公司。 潮玩行业 IP 运营成熟，渠道拓展多样，海外市场确定性增加，资金层面 估值体系容忍度提高。泡泡玛特和名创优品作为龙头公司，在多元化变 现和海外市场拓展方面表现突出。 茶饮行业景气度较高，连锁茶饮仍是首推赛道。蜜雪冰城跳脱出茶饮品 类，更具生命久期，长期隐形壁垒深厚，值得关注。古茗的区域效率最 大化模式构成其独特护城河，成长空间值得期待。 再论新消费的投资节奏、方向 20250609 摘要 Q&A 对于当前新消费市场的关注度如何评价？ 当前新消费市场关注度极高，从去年（202 ...