【编者按】 一个县级市，为何能登上中国顶级文化盛宴的舞台，与北京主会场共迎新春？2026年央视春晚分会场， 浙江义乌的入选本身，就是一个值得深究的"破格"现象。 这"破格"，标志着国家主流叙事的目光，完成了一次坚实而深刻的下沉——深情投向了驱动中国经 济"毛细血管"、承载无数个体梦想的基层活力样本。 当聚光灯照亮义乌，智通财经（www.thepaper.cn）试图穿透流光溢彩的舞台，展开一场深度观察。接下 来，我们将持续追问：当"世界超市"遇见春晚，究竟会碰撞出怎样的火花？这座城市又将如何讲述自己 的故事？ 义乌与春晚的相遇，是时代选择与城市内生力量的同频共振。这场深度融合国家战略、商业文明与个体 梦想的传播实践，不仅让"世界超市"的故事被世界聆听，更以其扎实的内核与广泛的连接，为我们理解 大型盛事如何与一座城市最蓬勃的生命力相互成就，提供了一个极具标杆意义的观察窗口。 除夕夜，义乌全球数贸中心。 一扇"世界之窗"被中国红点亮，一根羽毛从空中飘落，引领一盏匠心之灯穿越千年——义乌的春晚8分 钟，就此展开。 这是浙江城市首次以分会场身份亮相央视春晚。8分钟里，有戚家军的战鼓，有拨浪鼓的节奏，有经典 名曲的旋律跨 ...

9 January 2026 | 5:41PM HKT Equity Research Zhejiang China Commodities City Group (600415.SS, NC): APAC Consumer & Leisure Corp Day — new initiatives unlocking ample growth Bottom line: We hosted Zhejiang China Commodities City Group (600415.SS, Not Covered) for a virtual meeting at our APAC Consumer & Leisure Corp Day on Jan 9, 2026. Key takeaways include: 1) Yiwu's export momentum remains strong with export value +25% yoy in 11M25, and mgmt's tone was optimistic towards export growth into the next few yea ...

Company Profile and Financial Highlights - Zhejiang China Commodities City Group Co., Ltd. reported operating revenue of RMB 7.713 billion for the first half of 2025, a year-on-year increase of 13.99% compared to RMB 6.766 billion in the same period of 2024 [3][26] - The net profit attributable to shareholders reached RMB 1.691 billion, reflecting a 16.78% increase from RMB 1.448 billion in the previous year [3][26] - The company’s total assets decreased by 2.00% to RMB 38.384 billion from RMB 39.168 billion at the end of 2024 [3] Industry Overview - Yiwu International Trade City has maintained its position as a leading small commodity trading center, supporting over 2.1 million small and medium-sized enterprises and attracting more than 20,000 foreign merchants [4][6] - The total import and export value of Yiwu City reached RMB 405.83 billion in the first half of 2025, marking a year-on-year increase of 25.0% [7] - The company is positioned within the "Business Service" sector, focusing on enhancing trade services and building a digital ecosystem to support small and medium-sized enterprises [4][13] Business Operations - The company operates a shared trade service platform, integrating market resources and improving commodity circulation efficiency [13][19] - The Global Digital Trade Center project is underway, aiming to create a new digital trade ecosystem that integrates various functional modules [28][29] - The Chinagoods platform has registered over 5.1 million purchasers, enhancing trade linkages and reducing costs for merchants [30][31] Market Development - The company has pioneered innovative trade models, such as "market procurement + consolidated shipping," which significantly boosted exports [9][10] - Yiwu's imports of consumer goods reached RMB 25.93 billion, a 17.9% increase, with notable growth in beauty cosmetics and machinery products [7][8] - The company has established a robust logistics network, covering over 1,500 counties in China and 700 hub cities globally [5][37] Financial Services - Yiwu Pay, the company's payment service, processed over USD 2.5 billion in cross-border payments, a year-on-year increase of over 47% [39] - The company has developed a comprehensive intelligent payment ecosystem, enhancing security and efficiency in global transactions [39] Exhibition and Hotel Services - The exhibition sector achieved a revenue of RMB 75.92 million, hosting 34 domestic exhibitions with significant intended transaction volumes [33] - The hotel sector generated RMB 234 million in revenue, focusing on member ecosystem development and brand upgrades [34]