Investment Rating - The report rates the industry as "Overweight" [1] Core Insights - The report highlights the upcoming "2026 Spring Festival Special Activity Plan" aimed at boosting consumption during the holiday season [3] - It emphasizes the positive outlook for travel-related sectors, including hotels, duty-free shops, and scenic spots, due to improved vacation policies and anti-monopoly measures in the OTA sector [4] - The report also notes the potential in the gold and jewelry market, recommending stocks with low valuations and improved competitive landscapes [4] - The impact of subsidies on the milk tea sector is acknowledged, with specific recommendations for brands benefiting from these subsidies [4] - AI applications and undervalued new consumer sectors are identified as areas of interest, with several companies recommended for investment [4] Summary by Sections Travel and Hospitality - The report recommends several hotel stocks, including Huazhu Group, ShouLai Hotel, and JinJiang Hotels, as well as duty-free stocks like China Duty Free Group [4] - Scenic spots such as Emei Mountain A, Jiuhua Tourism, and Huangshan Tourism are highlighted as investment opportunities [4] Gold and Jewelry - Stocks like Caibai Co., Luk Fook Holdings, and Laopuhuangjin are recommended based on short-term data exceeding expectations and improved competitive dynamics [4] New Consumer Trends - Companies such as Kangnait Optical, Huatu Shanding, and Tianli International Holdings are suggested for their potential in AI applications and new consumer trends [4] Low Valuation and High Dividend Stocks - Recommendations include Jiangsu Guotai, Yum China, and Haidilao, focusing on low valuation and high dividend yield stocks [4] Market Performance - The report notes a decline of 0.91% in the retail sector and a rise of 0.70% in consumer services, ranking them 20th and 9th respectively among 30 industries [4] - Notable stock performances include Junting Hotel (+10.38%) and Haidilao (+8.64%) [4] Industry Updates - The report discusses the issuance of a special activity plan by multiple government departments to promote various consumption sectors [4] - It also mentions the acceptance of the first commercial real estate REITs by the Shenzhen Stock Exchange [4] - Recent acquisitions, such as Meituan's purchase of Dingdong Maicai's China business for approximately $717 million, are highlighted [4]

Investment Rating - The report rates the industry as "Overweight" [1] Core Insights - The report highlights the upcoming "2026 Spring Festival Special Activity Plan" aimed at boosting consumption during the holiday season [3] - It emphasizes optimism towards tourism-related sectors, including hotels, duty-free shops, and scenic spots, due to improved vacation policies and ongoing anti-monopoly measures in the OTA sector [4] - The report also suggests a favorable outlook for the gold and jewelry sector, recommending stocks with low valuations and improved competitive landscapes [4] - The impact of subsidies on the milk tea industry is noted, with specific recommendations for brands benefiting from these initiatives [4] - AI applications and undervalued new consumer sectors are highlighted, with several companies recommended for investment [4] Summary by Sections Investment Highlights - The report suggests continued optimism for tourism-related sectors, recommending specific companies such as Huazhu Group, ShouLai Hotel, and China Duty Free Group [4] - It also recommends gold and jewelry companies like Caibai Co., Luk Fook Holdings, and Laopuhuangjin, focusing on those with short-term data exceeding expectations [4] - The milk tea sector is expected to benefit from subsidies, with recommendations for brands like Guming and Hushang Ayi [4] - AI and new consumer applications are highlighted, with recommendations for companies like Kangnait Optical and Huatu Shanding [4] - Low valuation and high dividend yield stocks are recommended, including Jiangsu Guotai and Haidilao [4] Market Review - The report notes a decline of 0.91% in the retail sector and a rise of 0.70% in consumer services, ranking them 20th and 9th respectively among 30 industries [4] - Notable stock performances include Junting Hotel (+10.38%) and Haidilao (+8.64%) [4] Industry Updates - The report mentions the issuance of a special activity plan by multiple government departments to promote various consumption sectors [4] - It also notes the acceptance of the first commercial real estate REITs by the Shenzhen Stock Exchange, expanding the scope to retail, hotels, and office buildings [4] - Recent acquisitions, such as Meituan's purchase of Dingdong Maicai's China business for approximately $717 million, are highlighted [4] Company Announcements - Key announcements include the resignation of the general manager of HeBai Group and the signing of a land compensation agreement by a subsidiary of an agricultural products company [4]

苏美达涨0.88%，报12.58元/股，股价再创新高，总市值突破164.38亿元，成交额达1850.22万元。（AI 生成） ...

格隆汇2月4日丨苏美达(600710.SH)涨1.57%，报12.310元，股价创历史新高，总市值160.86亿元。 ...

证券之星消息，2月3日贸易板块较上一交易日上涨2.76%，苏美达领涨。当日上证指数报收于4067.74， 上涨1.29%。深证成指报收于14127.1，上涨2.19%。贸易板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600608 | *ST PA | 3.67 | -3.67% | 5.39万 | = 1968.80万 | | 600250 | 南京商旅 | 11.30 | 0.36% | 10.45万 | 1.18 Z | | 600287 | 赤蒙时尚 | 5.95 | 0.51% | 6.67万 | 3968.36万 | | 000151 | 中成股份 | 13.26 | 0.61% | 5.11万 | 6781.85万 | | 600278 | 东方创业 | 8.60 | 1.30% | 8.33万 | 7198.31万 | | 002091 | 江苏国泰 | 8.67 | 1.40% | 16.02万 | 1.38亿 | | 600128 | 示索弘业 | 1 ...

浦银安盛红利精选混合A（519115）基金经理为陈晨。 截至发稿，陈晨累计任职时间1年118天，现任基金资产总规模3.27亿元，任职期间最佳基金回报 29.61%， 任职期间最差基金回报11.4%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 2月3日，苏美达涨5.02%，截至发稿，报11.93元/股，成交1.79亿元，换手率1.16%，总市值155.90亿 元。 资料显示，苏美达股份有限公司位于江苏省南京市长江路198号，成立日期1996年6月24日，上市日期 1996年7月1日，公司主营业务涉及包括产业链、供应链两大类。产业链涵盖大消费、大环保等领域,主 要产品或服务包括:纺织服装、家用动力产品(含园林机械、清洗机械及汽油发电机组等)、环保工程(含 污水处理、垃圾处理、土壤修复、餐厨垃圾处理、可降解塑料工业工程等)、清洁能源(含光伏产品、工 程、运维)、船舶制造与航运等。供应链即供应链集成服务,指大宗商品运营与机电设备进口。 ...

（编辑 袁冠琳） 证券日报网讯 2月2日，苏美达在互动平台回答投资者提问时表示，公司积极顺应财务数智化转型趋 势，结合业务发展需要，按照行业类别、业务板块建立了财务共享管理模式，旨在通过流程标准化和自 动化，提升公司会计核算、资金结算、税务申报以及费用支付等核心共享作业的效率，释放共享财务人 效，强化运营风险管控，为公司的高质量发展提供坚实支撑。 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance in the near term [5]. Core Insights - The company has reported better-than-expected earnings, with significant contributions from its shipbuilding and diesel generator segments, which provide earnings elasticity. The dividend yield is seen as a protective moat for investors [5]. - The shipbuilding segment is expected to benefit from a decline in steel prices, with projected revenue growth of 14% in 2025, followed by a slight decrease in 2026 and a rebound in 2027 [5]. - The diesel generator segment shows strong market competitiveness, with ongoing projects for major clients like China Mobile, indicating robust demand and performance stability [5]. - The company has a diversified business model and a global operational network, which helps mitigate risks associated with market fluctuations and trade policy changes [5]. - The projected dividend yield for 2025 and 2026 is approximately 3.7% and 4.1%, respectively, based on a maintained payout ratio of 42% [5]. Financial Data and Earnings Forecast - Total revenue is forecasted to be 117,803 million yuan in 2025, with a year-on-year growth rate of 0.5%. The net profit attributable to the parent company is expected to reach 1,355 million yuan, reflecting an 18% increase [4]. - The earnings per share (EPS) is projected to be 1.04 yuan for 2025, with a gradual increase to 1.23 yuan by 2027 [4]. - The gross profit margin is expected to improve from 7.4% in 2025 to 7.8% in 2027, indicating better cost management and pricing power [4]. - The return on equity (ROE) is projected to be 15.9% in 2025, slightly decreasing to 15.5% by 2027, which reflects stable profitability [4].

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Insights - The company has exceeded performance expectations, with shipbuilding and diesel generator contributions showing significant elasticity. The dividend yield is seen as a protective moat [6] - The company expects a 2025 net profit of 1.355 billion yuan, representing an 18% year-on-year increase, with a strong Q4 performance [8] - The shipbuilding segment is projected to benefit from declining steel prices, with expected revenue growth of 14% in 2025 [8] - The diesel generator segment shows strong market competitiveness, with several key projects won, indicating robust performance [8] - The company's diversified operations and global layout provide stability against market fluctuations [8] - The dividend payout ratio is projected at 42%, leading to an estimated dividend yield of approximately 3.7% to 4.1% for 2025 and 2026 [8] - The 2025 net profit forecast has been raised to 1.4 billion yuan, with maintained projections for 2026 and 2027 [8] Financial Data and Profit Forecast - Total revenue is projected to be 117.803 billion yuan in 2025, with a year-on-year growth rate of 0.5% [7] - The net profit attributable to the parent company is expected to reach 1.355 billion yuan in 2025, with a growth rate of 18% [7] - Earnings per share are forecasted to be 1.04 yuan in 2025, increasing to 1.13 yuan in 2026 [7] - The company's return on equity (ROE) is projected to be 15.9% in 2025 [7]

Investment Rating - The report maintains an "Accumulate" rating for the industry [5] Core Insights - The retail sector is expected to show varied performance in Q4 2025, with significant growth in certain segments like gold and jewelry, while others like supermarkets and department stores are projected to decline [1][2][4] - The report highlights the importance of the upcoming Spring Festival season, suggesting that sectors with performance elasticity, such as duty-free shops and certain tourist attractions, should be closely monitored [9] - The report emphasizes the potential of AI applications in enhancing e-commerce marketing, indicating a shift towards new retail strategies [9] Summary by Relevant Sections Retail Sector Outlook - Gold and Jewelry: - Lao Feng Xiang: Expected net profit growth of -15% to 5% in Q4 2025 - Zhou Da Sheng: Expected net profit growth of 15% to 30% in Q4 2025 - Chao Hong Ji: Forecasted net profit of 1.2 to 2.2 billion, with a year-on-year increase of 125% to 175% - Cai Bai Co.: Expected net profit growth of 150% to 254% in Q4 2025 - Yu Garden Co.: Forecasted loss of 4.312 billion in Q4 2025, compared to a loss of 1.03 billion in the same period last year [1] - Trendy Toys: - Miniso: Expected revenue growth of 25% to 30% in Q4 2025, with adjusted net profit growth of 10% to 20% [1] Supermarkets and Department Stores - Chongqing Department Store: Expected net profit of 1.021 billion, a decline of 22.4% year-on-year, with a projected drop of 92.5% in Q4 2025 - Wangfujing: Expected net profit loss of 0.45 to 0.23 billion, with a growth rate of -6.6% to 7.3% in Q4 2025 - Yonghui Supermarket: Expected loss of 2.14 billion, with a net profit growth rate of -3.1% in Q4 2025 - Home Home Joy: Expected net profit of 198 to 228 million, with a growth rate of 50.1% to 72.8% in Q4 2025 [2] Cross-Border and E-commerce - Small Commodity City: Expected net profit growth of 5% to 15% in Q4 2025 - Anker Innovation: Expected net profit growth of 10% to 20% in Q4 2025 - Su Mei Da: Expected net profit of 1.355 billion, with a growth rate of 70.8% in Q4 2025 [3] Social Services Sector Outlook - Duty-Free: China Duty-Free Group: Expected net profit growth of 29% to 173% in Q4 2025 - Tourism: - Songcheng Performance: Expected net profit growth of -204% to 294% in Q4 2025 - Jiuhua Tourism: Expected net profit growth of 0% to 15% in Q4 2025 [4] Investment Recommendations - The report recommends focusing on sectors with performance elasticity during the Spring Festival, including duty-free, certain tourist attractions, and gold and jewelry [9] - For 2026, the report suggests looking at service consumption and product consumption, particularly in duty-free and travel chains, as well as undervalued segments with improving fundamentals [9]