Group 1: Solid-State Battery Industry - The global solid-state battery industry is expected to achieve GWh-level mass production by 2027, driven by collaborative innovation in materials, processes, and equipment [5][6][7] - The solid-state battery supply chain is evolving towards a "materials-equipment-manufacturing-application" collaborative innovation model, with key advancements in electrolyte film formation processes impacting ionic conductivity [6][7] - The global solid-state battery equipment market is projected to reach 120 billion yuan by 2026, with significant demand for new equipment such as dry electrode preparation and isostatic pressing [7][8] Group 2: AI Applications and Media Consumption - The 2026 Spring Festival has become a battleground for major AI companies to showcase their technological capabilities, integrating AI deeply into program production and real-time interactions [10][11] - The focus of domestic AI large models has shifted from general capabilities to native agent capabilities, emphasizing task planning and multi-modal technology breakthroughs [10][11] - The gaming sector during the Spring Festival saw a preference for high DAU games, particularly in the MOBA and FPS genres, with Tencent's games dominating the market [11][12] Group 3: Energy Sector and Coal Market - In 2025, the State Grid's total bidding amount reached 89.4 billion yuan, doubling that of 2022 and increasing by 27% compared to 2024, indicating strong growth in the energy sector [14][15] - The coal market experienced unexpected inventory reductions before the Spring Festival, leading to optimistic coal prices post-holiday, supported by favorable supply conditions [16] - The release of the national unified electricity market policy aims to establish a market-oriented mechanism centered on supply and demand, emphasizing sustainability [17][18] Group 4: New Consumption Trends - The 2026 Spring Festival saw a significant increase in travel and consumption, with cross-regional passenger flow expected to reach 9.5 billion, a 5.32% increase from 2025 [19][20] - The beauty sector showed signs of recovery during the off-peak season, with a notable increase in sales, particularly in the makeup category, driven by festive consumption [22][23] - The overall retail and catering sales during the Spring Festival increased by 8.6% compared to the previous year, reflecting a vibrant consumer market [21][22]

春节消费第一弹【国金商社】#春节华东黄金珠宝加盟商专家Notes-20260221 【结论】：结构性亮点，周大福、潮宏基表现突出，加盟商利润率继续改善 【春节档销售表现（除夕-初五）】 表现较好-周大福、潮宏基； 1）周大福增长17%-18%，超预期，主因去年同期基数偏低、克减较高等； 2）潮宏基增长15.6%，符合预期，去年同期高基数下仍实现增长； 3）谢瑞麟增长5%，样本量较小表 春节消费第一弹【国金商社】#春节华东黄金珠宝加盟商专家Notes-20260221 【结论】：结构性亮点，周大福、潮宏基表现突出，加盟商利润率继续改善 【春节档销售表现（除夕-初五）】 表现较好-周大福、潮宏基； 1）周大福增长17%-18%，超预期，主因去年同期基数偏低、克减较高等； 2）潮宏基增长15.6%，符合预期，去年同期高基数下仍实现增长； 3）谢瑞麟增长5%，样本量较小表现平稳； 4）加盟的其他品牌下滑； 5）行业整体预计出现下滑。 【1-2月合计及后续展望】 1）截至目前1-2月行业整体下滑20%-25%，品牌分化显著，周大福、潮宏基表现最优； 2）2月底乐观预期行业增长10%，中性预期持平，悲观预期下滑5%； 周 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report highlights a steady recovery in consumer spending during the Spring Festival, with significant increases in payment transactions and retail sales compared to the previous year [4][26] - The report emphasizes the importance of high-quality companies in high-growth sectors driven by emotional consumption themes [7][35] Summary by Sections Industry Dynamics - The Spring Festival saw a robust recovery in social consumption, with payment transactions on New Year's Eve reaching 4.931 billion, a 21.64% increase from the previous year [4][26] - Key regions like Hainan and cities such as Tianjin and Zhenjiang showed strong performance in retail and dining, with Hainan's duty-free shopping amounting to 1.03 billion yuan, up 20.9% year-on-year [4][27] - Domestic travel orders surged by 60%, and outbound travel orders increased by over 180% during the holiday period [4][26] Investment Recommendations - Investment Theme 1: Focus on high-end gold and fashion jewelry brands, recommending companies like Laopai Gold and Chaohongji for their differentiated product offerings [7][35] - Investment Theme 2: Emphasize retail companies adapting to trends and AI-enabled cross-border e-commerce leaders, with recommendations for Yonghui Supermarket and Aiyingshi [7][35] - Investment Theme 3: Highlight domestic beauty brands that cater to emotional value and innovative safe ingredients, recommending brands like Maogeping and Proya [7][35] - Investment Theme 4: Focus on differentiated medical beauty product manufacturers and leading medical beauty institutions, recommending companies like Meilitiantian Medical Health and Aimeike [7][35] Market Performance - The retail and social service indices reported declines of 1.59% and 0.78% respectively during the week from February 9 to February 13, 2026 [6][15] - The report notes that the education sector saw the highest growth among sub-sectors, while the watch and jewelry sector led the year-to-date performance with an 11.29% increase [6][18] Company Highlights - Laopai Gold reported a significant revenue increase of 250.9% in the first half of FY2025, driven by strong consumer demand and brand expansion [37] - Chaohongji is expected to achieve a net profit growth of 125% to 175% in FY2025, supported by its differentiated product strategy [37] - Maogeping and Proya are highlighted for their strong performance in the beauty sector, with Maogeping achieving a revenue increase of 31.3% in FY2025 [37]

Investment Rating - The report maintains a "Buy" rating for key companies in the textile and apparel sector, including Li Ning, Anta Sports, Shenzhou International, and Huayi Group, among others [5][10][31]. Core Insights - The textile and apparel industry is experiencing a steady growth in exports from Southeast Asian countries, particularly Vietnam, which continues to outperform China in this regard [2][21]. - The report anticipates a recovery in orders for apparel manufacturing companies in 2026, with an expectation of improved profitability quality compared to previous periods [1][22]. - The sportswear segment is expected to show resilience and long-term growth potential, with companies like Li Ning and Anta Sports being highlighted for their strong inventory management and marketing strategies [3][28]. Summary by Sections Weekly Topic - Several apparel manufacturers reported their January 2026 revenue, with Feng Tai Enterprises, Ruo Hong, and Yu Yuan Group showing year-on-year changes of -1.8%, +7.6%, and +0.6% respectively [1][13][14]. - The overall performance of apparel manufacturing shipments is expected to be flat in Q4 2025, with short-term profit margins under pressure due to order fluctuations [1][22]. Industry Export Performance - In 2025, China's apparel and accessories export value is projected to be $151.2 billion, down 5.0% year-on-year, while textile yarns and fabrics are expected to see a slight increase of 0.5% [2][21]. - Vietnam's textile exports in January 2026 reached $3.25 billion, up 8.3% year-on-year, and footwear exports were $2.05 billion, up 7.8% [2][21]. Company Recommendations - Li Ning is recommended due to its anticipated brand strength during the Olympic cycle, with expected net profit growth of 5.8% in 2026 [3][28]. - Anta Sports is highlighted for its excellent operational capabilities, with a projected net profit increase of 6.4% in 2026 [3][28]. - Shenzhou International is recommended for its cost-effective valuation and expected stable growth in revenue and profit in 2026 [30][31]. Inventory and Order Trends - The industry inventory is considered healthy, with expectations for steady improvement in downstream orders [30]. - Key brands are expected to see a recovery in orders, with some brands outperforming market expectations [22][24]. Market Dynamics - The report notes that brand clients are expected to adopt a more flexible ordering rhythm due to cautious economic outlooks, which may lead to differentiated performance among brands [22][27]. - The overall competitive landscape is expected to optimize in the medium to long term, benefiting integrated and internationalized manufacturers [27].

周大生 老铺黄金 周生生 周大福 分时图 日K线 周K线 月K线 12.40 -0.15 -1.20% 1.35% 0.88% 0.48% 0.00% 0.48% 0.88% 1.35% 12.38 12.44 12.49 12.55 12.61 12.66 12.72 09:30 10:30 11:30/13:00 14:00 15:00 0 11万 21万 32万 华夏时报记者 周梦婷 商丘报道 黄金珠宝首饰在春节假期迎来了销售高峰期。2月19日上午11点多，商丘市睢阳区吾悦广场内，周大 福、周大生（002867）、潮宏基（002345）等黄金门店客流不断，其中以情侣顾客为主。周大生门店店 员告诉本报记者："春节后比春节前销售要好很多。"而在春节前的2月16日（除夕），《华夏时报》记 者走访时感受到的金饰销售热度同样不减。彼时周大福一店员表示："这几天销售都挺好，2月14日情人 节那天，我忙得没时间吃午饭。" 对于今年春节黄金首饰销售表现，知名战略定位专家、福建华策品牌定位咨询创始人詹军豪接受《华夏 时报》记者采访时表示，"今年春节黄金首饰销售高潮，是刚需释放与消费升级共振的结果。尽管金价 处于高位，备婚 ...

本文源自：市场资讯 作者：行情君 2月22日10点，国际金价报5098.8美元/盎司，国际钯金报1748.0美元/盎司，国际银价报84.22美元/盎 司，国内金价报1142.0元/克。 根据国内主要品牌金店报价，周生生价格最高为1562元/克，菜百首饰价格最低为1508元/克；周大福今 日黄金价格1545元/克，六福珠宝今日黄金价格1545元/克，谢瑞麟今日黄金价格1545元/克，金至尊今日 黄金价格1545元/克，潮宏基今日黄金价格1545元/克，老庙黄金今日黄金价格1518元/克，老凤祥今日黄 金价格1518元/克，中国黄金今日黄金价格1508元/克，周六福今日黄金价格1540元/克。 ...

Price Movements in Domestic and International Gold Markets - The price of gold jewelry from major domestic brands has dropped below the psychological threshold of 1500 yuan per gram, with prices reported at 1499 yuan from Chow Tai Fook and 1510 yuan from Lao Feng Xiang, reflecting a decrease of 61 yuan per gram in just one day [1][7] - In contrast, international gold prices have surged, with spot gold rising from 4878.89 USD to 5042.20 USD, marking a daily increase of 2.39% [3][8] - The domestic gold market is experiencing a lag in price adjustments compared to international markets, influenced by fixed costs such as brand premiums and processing fees [11] Geopolitical Influences on Gold Prices - The recent progress in US-Iran negotiations has reduced the likelihood of military conflict, leading to a withdrawal of some safe-haven funds from the gold market [13] - Despite the positive developments, uncertainties remain as Iran refuses to discuss its ballistic missile program, complicating the potential for a formal agreement [9][13] Federal Reserve's Monetary Policy Outlook - Federal Reserve officials have expressed differing views on interest rate adjustments, with some indicating a potential for 75 basis points of rate cuts, while others advocate for maintaining stable rates for a period [5][9][13] - The latest survey from Bank of America shows that 50% of fund managers consider "going long on gold" as the most crowded trade, indicating a strong interest in gold as an investment [5][6] Market Sentiment and Investment Trends - The allocation towards commodities has reached its highest level since May 2022, with a net 28% overweight in commodities among surveyed fund managers [6][11] - The cash levels among investors have slightly increased from a record low, indicating a cautious approach amidst market volatility [11]

Group 1 - The company Laopu Gold announced a price increase for its products starting from February 28, 2026, with adjustments occurring 2-3 times annually [1] - In 2025, Laopu Gold raised its prices three times in February, August, and October [1] Group 2 - On February 18, domestic gold jewelry prices fell below 1500 yuan per gram, with brands such as Chow Tai Fook and Chow Sang Sang quoting 1499 yuan per gram [4] - Other brands like Liufeng Jewelry, Laomiao Gold, and others maintained prices around 1500 yuan per gram, with specific quotes of 1527 yuan, 1516 yuan, 1500 yuan, 1510 yuan, and 1502 yuan respectively [4] Group 3 - On the same day, international gold and silver prices showed a strong upward trend, with spot gold increasing by 1.23% to 4936.6 USD per ounce and spot silver rising over 3% to 75.995 USD per ounce [7]

老铺黄金每年有2-3次调价。2025年，老铺黄金于2月、8月、10月三次上调售价。 开年以来，黄金价格高位波动，周生生、潮宏基等黄金品牌均已对一口价产品做出调价。 1月6日，界面新闻从周生生北京多家门店获悉，当日起对部分定价类黄金饰品进行调价，涨幅在10%-13%。相关门店工作人员表示，"一 口价转运珠类饰品涨价已经生效，涨了200元左右"。另据21世纪经济报道，周生生此次涨价幅度在200-1500元。调价产品除了转运珠之 外，还包括定价联名款(如HelloKitty系列)以及金镶钻类饰品。 2月18日，老铺黄金官宣将启动2026年首轮提价。具体调价时间为2月28日，产品调价详情以线上线下产品实际标价为准。 1月16日，潮宏基多款一口价黄金饰品启动新一轮价格调整，涨幅从几百元至上万元不等。 此轮调整中，高端黄金饰品的价格变动幅度较为突出。多款古法金、珐琅、钻石镶嵌类产品价格出现明显上调。比如，一款黄金翡翠钻石 项链从44267元涨至54722元，一款故宫文化黄金钻石吊坠从12987元涨至16557元。 与高端产品相比， 潮宏基热销产品则为小克黄金饰品 。 旗舰店内销量排名靠前的，多为黄金串珠、转运珠、金箔摆件 ...

Group 1 - The international gold price is reported at $5038.5 per ounce, while international palladium is at $1686.0 per ounce, and international silver is at $77.11 per ounce [1] - The domestic gold price is reported at ¥1125.0 per gram [1] - Major domestic gold retailers have varying prices, with Lao Feng Xiang at ¥1548 per gram (highest) and Zhou Shi Fu at ¥1524 per gram (lowest) [1] Group 2 - Other notable domestic gold prices include: Chow Tai Fook at ¥1529 per gram, Chow Sang Sang at ¥1534 per gram, and Liufuk Jewelry at ¥1529 per gram [1] - Additional prices from other retailers include: Xie Rui Lin at ¥1529 per gram, Jin Zi Zun at ¥1529 per gram, Chao Hong Ji at ¥1529 per gram, Cai Bai Jewelry at ¥1530 per gram, Lao Miao Gold at ¥1529 per gram, and China Gold at ¥1530 per gram [1]