（文章来源：每日经济新闻） 港股消费ETF（513230）跟踪中证港股通消费主题指数，一键打包互联网电商龙头+新消费，成分股近 乎囊括港股消费的各个领域，包括泡泡玛特、老铺黄金、蜜雪集团、海底捞等新消费龙头，又包含小 米、阿里巴巴、腾讯、美团等互联网电商龙头，科技+消费属性突出。 8月21日，恒生指数开盘涨0.2%，恒生科技指数跌0.03%。泡泡玛特涨逾1%，再创历史新高。港股消费 ETF（513230）早盘表现略显震荡，现小幅微跌。 泡泡玛特创始人王宁8月20日在业绩会上表示，今年LABUBU新品相对比较克制，没有过度消耗这个 IP，现有需求很大，未来会有很大的价值。王宁还表示，本周将发布迷你版LABUBU，相信会成为超级 爆款。 此外，海底捞打磨2年的首家创新概念店落地北京。海底捞近期又在北京亦庄推出了全国首家创新概念 店，在功能、视觉、场景等均有大幅度创新，设有甜品站、互动娱乐区、迎宾机器人、酒水吧、智能打 锅机、夜宵派对时段会有DJ互动等。据创新概念店负责人介绍，门店8月5日正式营业，首个周末门店 翻台率破6，上周末已破7。 ...

每经编辑｜张喜威 王晓波 5 杰克逊霍尔全球央行年会将于8月21 E 举行，鲍威尔将于北京时间8月22日22: √中国7月Swift人民币在全球支付中占比 2 商务部召开8月第1次例行新闻发布会 3 2025中国电解铝大会将于8月21日至 南昆明召开 4中国《海南自由贸易港跨境资产管理ì 实施细则》将于8月21日施行 1 隔夜市场 美股三大指数收盘涨跌不一，纳指跌0.67%，标普500指数跌0.24%，道指涨0.04%，标普500指数连续第四个交易日下跌；大型科技股多数下跌，英特尔跌 约7%，谷歌、亚马逊、苹果、特斯拉跌超1%，微软、英伟达、奈飞、Meta、AMD小幅下跌。中概股涨跌不一，纳斯达克中国金龙指数涨0.33%，老虎证券 涨逾4%，晶科能源、贝壳涨超2%，搜狐、网易涨近2%，迅雷跌逾7%，极氪跌超4%，百度跌逾2%，小鹏汽车跌近2%。 当地时间8月20日，美联储公布联邦公开市场委员会（FOMC）7月29日至30日的会议纪要。会议纪要显示，美联储同意将联邦基金利率目标区间维持在 4.25%-4.5%之间。在本次会议的货币政策讨论中，委员们一致认为，尽管净出口波动影响了数据，但近期指标表明，上半年经济活 ...

Macro Dynamics - The Ministry of Finance and the State Taxation Administration announced that childcare subsidies issued according to the childcare subsidy system will be exempt from personal income tax [2] Financial Regulation - The National Financial Supervision Administration is seeking opinions on a draft regulation that states the total balance of merger loans from commercial banks must not exceed 50% of the bank's net tier 1 capital [3] - The draft also specifies that the balance of equity-type merger loans cannot exceed 30% of the total merger loan balance, and the balance of merger loans to a single borrower must not exceed 5% of the bank's net tier 1 capital [3] Market Data - In June 2025, the domestic smartphone shipment was 22.598 million units, a year-on-year decrease of 9.3%, with 5G smartphones accounting for 81.6% of the total shipments [4] - The total smartphone shipments from January to June 2025 were 141 million units, down 3.9% year-on-year, with 5G smartphones making up 85.5% of the total [4] - On August 20, the A-share market saw all three major indices rise, with the Shanghai Composite Index up 1.04% and the Shenzhen Component Index up 0.89% [7] - The total financing balance of the two markets increased by 28.982 billion yuan, with the Shanghai Stock Exchange's balance at 1,073.793 billion yuan and the Shenzhen Stock Exchange's balance at 1,036.301 billion yuan [9] Company Dynamics - Muyuan Foods reported a net profit of 10.53 billion yuan for the first half of 2025, a year-on-year increase of 1169.77%, with total revenue of 76.463 billion yuan, up 34.46% [11] - Baidu's Q2 2025 revenue reached 32.7 billion yuan, with a core net profit of 7.4 billion yuan, a 35% year-on-year increase, driven by strong growth in AI-related businesses [12] - Laopuhuang reported an adjusted net profit of 2.35 billion yuan for the first half of 2025, a year-on-year increase of 290.6%, with total revenue of approximately 12.35 billion yuan, up 251.0% [13] - Pop Mart's founder announced the upcoming release of a mini version of LABUBU, indicating strong demand for the IP [14] - Game Science announced the establishment of a new company for the "Black Myth" series, with a new game titled "Black Myth: Zhong Kui" revealed at the Cologne Game Show [15] - A new prescription drug for cats, "Miao Nèi Ning," was launched, marking a significant development in the pet healthcare market [16]

本文转载自财联社 值班编辑 | 宝珠 视觉 | 顾芗 泡泡玛特创始人王宁8月20日在业绩会上表示，今年LABUBU新品相对比较克制，没有过度消耗这个 IP，现有需求很大，未来会有很大的价值。王宁还表示，本周将发布迷你版LABUBU，相信会成为超级 爆款。 星标关注《盐财经》 洞察趋势，睿智人生 股价表现方面，泡泡玛特涨近6%，股价逼近300港元，市值逼近4000亿，创历史新高。 泡泡玛特王宁：不觉得单一IP占公司营收比例过大不健康 在2025上半年财报电话会上，泡泡玛特创始人、CEO王宁表示，并不觉得单一IP占公司营收比例过大不 健康，更多原创IP可以证明我们是一家相对健康的平台化IP。据悉，LABUBU所在的THE MONSTERS 营收达48.1亿元，占公司总营收的34.7%。 泡泡玛特王宁：今年300亿营收也很轻松 在2025上半年财报电话会上，泡泡玛特创始人、CEO王宁表示，此前预期2025年营收同比增长50%达到 200亿元左右，目前来看，今年300亿营收也很轻松。但比起增长其更关心业绩健康度。 /// 大家都在看 /// 点 在看 把盐撒给更多的人 ...

Market Overview - Hong Kong stocks opened lower but rebounded, with the Hang Seng Index closing up 0.17% at 25,165.94 points and a total turnover of HKD 285.29 billion [1] - The market is currently focused on mid-year performance reports and value propositions, with potential volatility from US-China trade negotiations and fluctuations in US markets [1] Blue Chip Performance - Sunny Optical Technology (02382) led blue-chip stocks, rising 9.74% to HKD 82.25, contributing 8.07 points to the Hang Seng Index [2] - Semiconductor Manufacturing International Corporation (00981) increased by 3.4%, while WuXi Biologics (02269) rose by 2.82% [2] - Hansoh Pharmaceutical (03692) fell by 7.37%, negatively impacting the index by 5.37 points [2] Sector Highlights - New consumption concept stocks performed well, with Pop Mart (09992) surging 12% to a record high, and Lao Pu Gold (06181) rising over 10% [3] - Apple-related stocks saw a general increase as iPhone 17 entered mass production, with Sunny Optical and other suppliers benefiting [4][5] - Chip stocks also saw gains, with SMIC rising over 3% [5] Financial Results - Pop Mart reported a 204.4% year-on-year revenue increase to RMB 13.88 billion, with adjusted net profit up 362.8% to RMB 4.71 billion [4] - Lao Pu Gold's revenue increased by 251% to RMB 12.35 billion, with a profit increase of 285.8% [4] Pharmaceutical Sector - The pharmaceutical sector faced pressure, with notable declines in stocks like Singlera Genomics (01672) and Hansoh Pharmaceutical [7] - Hansoh announced a placement of 108 million shares at a discount, raising approximately HKD 3.897 billion for R&D and production [7] Notable Stock Movements - Several high-performing stocks attracted capital, including Chow Sang Sang (00116) up 27.51% and Fuyao Glass (03606) up 15.19% [8] - Dongfang Zhenxuan (01797) rebounded by 8.22% after refuting market rumors regarding its CEO [9] - Tianyue Advanced (02631) debuted with a 6.4% increase, focusing on silicon carbide substrate manufacturing [10] - Yancoal Australia (03668) fell 10.06% after reporting a 14.75% revenue decline [11]

Market Overview - The A-share market is experiencing a bullish trend, with the Shanghai Composite Index rising 1.04% to reach a nearly 10-year high, while the Shenzhen Component Index increased by 0.89% and the ChiNext Index rose by 0.23% [2][3] - A total of 3,676 stocks rose, with 102 hitting the daily limit, while 1,587 stocks declined [3][4] Sector Performance - Consumer stocks, particularly in the liquor sector, showed strong performance, with companies like JiuGuiJiu and HuiQiShan hitting the daily limit [4][5] - Semiconductor stocks also saw significant gains, with companies like Cambricon Technologies rising over 8% [6] - Consumer electronics stocks were active, with Anjie Technology and others hitting the daily limit [7] - Automotive stocks strengthened in the afternoon, with SAIC Motor Corporation hitting the daily limit amid news of China FAW planning to invest in Leap Motor [8] Notable Company Highlights - Pop Mart International achieved a significant milestone, with its stock price surging over 10% to surpass 300 HKD, and its market capitalization exceeding 400 billion HKD. The company reported a 204.4% year-on-year revenue growth for the first half of 2025, reaching 13.88 billion RMB, and a 396.5% increase in net profit to 4.57 billion RMB [10][11] - Lao Pu Gold also saw its stock price rise nearly 10%, reporting a 251% year-on-year revenue increase to 12.354 billion RMB and a 285.8% profit increase to 2.268 billion RMB for the first half of 2025 [13] Market Sentiment - The overall market sentiment remains optimistic, with analysts suggesting that the stock price of Pop Mart may reach new highs following positive statements from its founder regarding future growth prospects [11] - Positive signals from U.S.-China relations were noted, with the U.S. Treasury Secretary expressing satisfaction with current tariffs on China, which may influence market dynamics [15]

Market Overview - The market experienced a rebound, with the Shanghai Composite Index, Shenzhen Component Index, and Sci-Tech Innovation 50 Index reaching new highs for the year, particularly the Sci-Tech Innovation 50 Index which rose over 3% [1] - As of the market close, the Shanghai Composite Index stood at 3766.21 points, up 1.04%, with a trading volume of 101.75 billion yuan; the Shenzhen Component Index closed at 11926.74 points, up 0.89%, with a trading volume of 139.07 billion yuan; the ChiNext Index ended at 2607.65 points, up 0.23%, with a trading volume of 65.06 billion yuan [1] - The total trading volume for both markets was 2.41 trillion yuan, a decrease of 180.1 billion yuan compared to the previous trading day, marking the sixth consecutive day of trading volume exceeding 2 trillion yuan [1] Sector Performance - Sectors such as liquor, semiconductors, AI glasses, and small metals saw significant gains, while sectors like film, chemical pharmaceuticals, CRO, and vitamins experienced declines [1] - Chip stocks surged in the afternoon, with Cambrian Technology reaching a historical high, and liquor stocks rebounded, with Jiu Gui Jiu achieving two consecutive trading limits [2] Institutional Insights - According to Jifeng Investment Advisors, the overall market trend remains upward, with structural market conditions expanding, suggesting investors engage in high sell-low buy strategies for excess returns [3] - Xinhua Fund noted that the sustainability of the market depends on the pace of incremental capital release, with external factors such as the Federal Reserve's interest rate decisions influencing foreign capital inflow [3] - CITIC Securities highlighted that the liquor industry is rapidly bottoming out, with leading companies likely to benefit from channel adjustments and market expansion opportunities if consumer demand improves [3] Company News - Pop Mart's stock price reached a historical high of 318.4 HKD, with the founder announcing the upcoming release of a mini version of LABUBU, which is expected to be a major hit [4] - ByteDance denied rumors of collaborating with Chip Original on an AI chip design, clarifying that no such partnership exists [6] Interest Rate Update - The August Loan Prime Rate (LPR) remained unchanged, with the 5-year LPR at 3.5% and the 1-year LPR at 3% [5]

迷你版LABUBU可以"挂在手机上"，有望成为下个超级爆款；现在毛绒产品一个月的产能是去年同期的十倍以上。泡泡玛特大涨近7%，股价站上300港 元，创历史新高。 在8月20日上午的业绩直播会上，泡泡玛特创始人、董事长兼CEO王宁表示，过去半年有很多"我们想象不到的惊喜"，LABUBU已成世界级IP。 针对业绩指引的提问，王宁表示， 今年年初时还说非常有信心达成50%的整体增长，去年（营收）是100亿，今年希望能够做到200亿，但是现在感 觉，今年应该300亿也很轻松，同时希望大家更关注健康度方面的指标。 | | 09992 分时 v 5天 : 5分K v | 品 × ◎ ■ ▽ ▽ VS FID ■ | | 报价 分析 | 省 | | | --- | --- | --- | --- | --- | --- | --- | | | | 中 イ・ア・オ・コ・ト・ ★・ Aa ロ ＜ の 安 の | | 09992 泡泡玛特 | | | | | | | 66G | 304.200↑+23.400 +8.33% | | 交易中 08/20 11 2 | | 304,200 | | | | * % X S ~ Q 目 ...

泡泡玛特王宁：今年300亿营收也很轻松 泡泡玛特王宁：不觉得单一IP占公司营收比例过大不健康 在2025上半年财报电话会上，泡泡玛特创始人、CEO王宁表示，此前预期2025年营收同比增长50%达到200亿元左右，目前来看，今年300亿营收也很轻 松。但比起增长其更关心业绩健康度。 来源：智通财经 泡泡玛特创始人王宁8月20日在业绩会上表示，今年LABUBU新品相对比较克制，没有过度消耗这个IP，现有需求很大，未来会有很大的价值。王宁还表 示，本周将发布迷你版LABUBU，相信会成为超级爆款。 股价表现方面，泡泡玛特涨近6%，股价逼近300港元，市值逼近4000亿，创历史新高。 在2025上半年财报电话会上，泡泡玛特创始人、CEO王宁表示，并不觉得单一IP占公司营收比例过大不健康，更多原创IP可以证明我们是一家相对健康的 平台化IP。据悉，LABUBU所在的THE MONSTERS营收达48.1亿元，占公司总营收的34.7%。 ...

泡泡玛特创始人王宁8月20日在业绩会上表示，今年LABUBU新品相对比较克制，没有过度消耗这个IP，现有需求很大，未来会有很大的价值。王宁 还表示， 本周将发布迷你版LABUBU，相信会成为超级爆款。 在2025上半年财报电话会上，泡泡玛特创始人、CEO王宁表示，此前预期2025年营收同比增长50%达到200亿元左右， 目前来看，今年 300亿营收也很轻松。但比起增长其更关心业绩健康度。 股价表现方面，泡泡玛特涨近6%，股价逼近300港元，市值逼近4000亿，创历史新高。 泡泡玛特王宁：不觉得单一IP占公司营收比例过大不健康 在2025上半年财报电话会上，泡泡玛特创始人、CEO王宁表示，并不觉得单一IP占公司营收比例过大不健康，更多原创IP可以证明我们是 一家相对健康的平台化IP。据悉，LABUBU所在的THE MONSTERS营收达48.1亿元，占公司总营收的34.7%。 泡泡玛特王宁：今年300亿营收也很轻松 ...