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Investor interest is shifting toward emerging consumer trends, such as trendy IP-driven toys, the booming pet economy, and a rise of guochao gold jewelry and innovative tea brands, which are expected to become the next breakout consumption stories. 

投资者的关注点正转向新兴消费趋势，如 IP 驱动的潮流玩具、蓬勃发展的宠物经济，以及国潮黄金珠宝和创新茶饮品牌的崛起，这些领域有望成为下一个突破性的消费热点。

 Since the second quarter, shares of several new consumption companies have posted large gains, including Pop Mart, Laopu Gold and China Pet Foods. 

自第二季度以来，多家新消费公司的股价大幅上涨，包括泡泡玛特、老铺黄金和中宠股份。

 For example, fashionable gold jewelry, once considered traditional, has become a hot pursuit for young consumers who seek self-pleasure — a term used in China to describe individual-driven consumption for personal satisfaction. 

例如，曾经被视为传统的时尚黄金珠宝，已成为追求 “自我愉悦” 的年轻消费者的热门之选 ——“自我愉悦” 在中国指的是为个人满足感而驱动的消费行为。

 That trend is lifting names like CHJ Jewellery, whose shares have jumped 75.7 percent since April and about 189 percent since last year. 

这一趋势推动着诸如潮宏基珠宝等品牌的发展，其股价自 4 月以来上涨了 75.7%，自去年以来涨幅约 189%。

 CHJ has expanded aggressively even as broader retail growth slows. In 2025, it pushed into international markets by opening stores in Cambodia's Aeon Mall Phnom Penh, which the company said has laid the groundwork for its global ambitions.

 即便整体零售增长放缓，潮宏基仍在积极扩张。2025 年，该公司通过在柬埔寨金边永旺购物中心开店进军国际市场，称这为其全球野心奠定了基础。

Chow Tai Seng Jewellery has also reported expansion. On June 19, the company announced the opening of seven new self-operated stores in May, focused on plain gold and inlaid jewelry products. 

周大生珠宝也宣布了扩张计划。6 月 19 日，该公司宣布 5 月新开设了七家自营店，主要销售素金和镶嵌珠宝产品。

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