非常静距离
Return of delicate aquatic plant signals Chinese lake's revival_我的网站
A | 8月26日中午，安踏体育公布2026年上半年业绩。
The delicate blossom seen floating there is Ottelia acuminata, an aquatic plant endemic to China, which is known to have extremely strict water quality requirements. It demands high water transparency, cleanliness and calcium content, and survives only in unpolluted waters, serving as a reliable natural indicator of aquatic ecological health.
Its large-scale revival vividly testifies to Erhai Lake's remarkable ecological restoration achievements.
China's Ecological and Environmental Code, enacted on Saturday, stipulates nationwide protection and restoration of river and lake ecosystems, providing solid legal support for systematic water ecological governance across the country.
As China advances its Beautiful China initiative, this code is expected to strengthen rule-of-law guarantees for ecological protection and provide fresh impetus for the country's green and low-carbon transition.
In the early 1990s, agricultural pollution worsened Erhai Lake's water quality, causing frequent blue-green algae outbreaks. A severe algae bloom hit the lake in 1996, leaving the water turbid and smelly. As the environment degraded, Ottelia acuminata nearly disappeared from the lake.
Thanks to years of targeted ecological protection and restoration efforts, the lake's water quality has improved steadily, maintaining an excellent Grade II standard from January to June 2026, and creating favorable conditions for the return of Ottelia acuminata.
Official data show that the plant's coverage on Erhai Lake has surged from 90,000 square meters in 2021 to 950,000 square meters in 2026, marking a remarkable ecological recovery.
The improved water environment has also brought tangible economic benefits, turning the lake's ecological advantages into a sustainable industry. From lake ecology to farm cultivation and consumer products, Ottelia acuminata's dual ecological and economic value has been fully realized.
In 2018, environmental worker Zhong Lan noticed the edible plant's great potential for water purification and industrial development. With support from local authorities and Shanghai Jiao Tong University in eastern China, she started a company and built a professional research base in 2024, developing standardized planting techniques that enable high-yield, repeated harvests and offering jobs for local villagers.
Villager Li Xinyuan, who quit Ottelia acuminata cultivation years ago due to low profits, resumed planting in 2023 and earns a stable monthly salary of 4,500 yuan (about 663 U.S. dollars) at the base.
His fellow villager Du Hongquan earned over 100,000 yuan last year from growing the plant and has more than doubled his planting area this year. "The base takes full charge of sales, so we can plant without any worries," Du said.
Eryuan County, the source of Erhai Lake, now has more than 200 hectares of Ottelia acuminata plantation area, creating numerous jobs yearly. The plant has been developed into a diverse range of products like tea, plant-based coffee and cookies.
"I used to think it was exclusive to Yunnan, but I can try it elsewhere too," said a tourist surnamed Ai after tasting the plant at a hotpot restaurant in Hangzhou, east China's Zhejiang Province.
The beautiful lakeside scenery at Erhai has also boosted local tourism. In 2025, Dali received over 120 million tourist visits, attracting visitors to enjoy lake views and experience local Bai ethnic culture, with 407,000 long-term visitors.
Last month, the State Council issued a plan for building a Beautiful China during the 15th Five-Year Plan period (2026-2030), setting out the overall requirements, targets, key tasks and major projects for comprehensively advancing this initiative.
According to the plan, China will achieve overall improvement in ecological and environmental quality and make significant progress toward building a Beautiful China by 2030, with green production and lifestyles largely established and the carbon peaking target reached on schedule.
。此外，董事会宣派2026年中期股息每股1.51港元，同比增长10.22%，对应派息金额约36.37亿元人民币。
受业绩提振，安踏体育午后股价一度涨超10%，截至收盘报78.75港元/股，市值超过2200亿港元。
B | 
报告期内，安踏集团实现收入435.1亿元（人民币，下同），同比增长12.9%，再创历史新高；毛利率提升0.5个百分点至63.9%；经营溢利117.6亿元，同比增长16.1%；经营利润率升至27.0%，同比提升0.7个百分点。 值得注意的是，本期股东应占溢利94.87亿元，同比增长34.9%，其中包含Amer Sports（亚玛芬体育）配售事项产生的一次性利得等。剔除相关一次性收益后，公司股东应占溢利约79.4亿元，同比增长12.9%，仍实现双位数增长。 “三大引擎”分化 分品牌来看，安踏、FILA两大成熟品牌保持稳健增长，而迪桑特、可隆等“其他品牌”继续成为集团业绩增长的重要驱动力。
C | 上半年，安踏主品牌收入177.7亿元，同比增长4.8%；经营利润39.9亿元，同比增长1.2%。 FILA斐乐收入150.5亿元，同比增长6.1%；经营利润43.2亿元，同比增长9.7%，经营利润率提升至28.7%。公司表示，FILA业绩增长主要归因于电子商务业务持续增长，以及整体商品质量和市场吸引力提升。 相比之下，“所有其他品牌”表现更为亮眼。上半年收入106.9亿元，同比增长44.2%，首次在半年度突破百亿元；经营利润35.4亿元，同比增长43.9%，经营利润率达到33.1%。
D | 公司表示，“所有其他品牌”收入增长主要由两方面因素带动：一是DESCENTE（迪桑特）及KOLON SPORT（可隆）业务表现突出，通过精准且差异化的策略，把握细分及高端市场增长机会；二是自2025年5月31日完成收购JACK WOLFSKIN后，该品牌带来增量收入贡献。
从渠道来看，电子商务业务贡献集团整体收入的35.7%，较2025年上半年的34.8%进一步提升。按绝对金额计算，电子商务收入同比增长15.7%。
E | 公司表示，收入增长主要得益于持续提升运动专业内容输出、强化全域运营能力以及深耕会员生态，电子商务已成为集团整体零售策略的核心支柱。 运动消费长期趋势未变 过去几年，安踏凭借多品牌战略实现了营收规模的持续跃升。此次中报中，迪桑特、可隆等品牌的快速增长，也进一步印证了多品牌战略的增长潜力。 “今天的消费者比以往任何时候都更加成熟，也拥有更多选择。消费者每天都在用自己的选择为品牌投票。因此，我们始终坚持以消费者为中心，坚持品牌特色，打造差异化的产品价值，不因短期利益透支品牌未来。”安踏体育董事会主席丁世忠说。 运营质量方面，安踏集团上半年经营活动现金净流入130.81亿元，自由现金流116.30亿元，同比增长54.2%；平均存货周转天数降至130天，较2025年同期下降6天。 安踏表示，平均存货周转日数下降6日，主要归因于集团于本财政期内采取有效的存货控制及管理措施。
F | 同时，平均应收贸易账款周转日数下降2日，平均应付贸易账款周转日数下降8日，后者主要由于付款时间差异。 展望2026年下半年，安踏认为，外部宏观环境仍存在不确定性，但运动消费的长期趋势没有改变。
G | 随着消费者对健康、专业和个性化的需求持续提升，运动消费需求仍具备长期支撑。公司预计，运动鞋服行业将维持平稳运行，整体呈现“大而稳、细分高增”的格局，户外专业赛道仍将保持较快增长。 半年报中称，除主要品牌外，安踏还将持续培育MAIA ACTIVE等新兴品牌，耐心陪伴品牌打磨定位、沉淀用户基础。下半年，JACK WOLFSKIN品牌复兴计划将正式落地至零售终端，公司将以品牌核心价值为基础，逐步释放品牌潜力，不追求短期冒进。 同时，拟收购PUMA SE（彪马）29.06%股权的交易计划于年内完成交割，将进一步丰富安踏的全球业务布局。
（文章来源：上海证券报）。
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