In the announcement of changes on the evening of the 3rd, the "three barrels of oil" (CNOOC, PetroChina, and Sinopec) all stated that the recent international crude oil market has been affected by multiple factors such as the geopolitical situation and the supply and demand pattern, and prices have shown a wide range of fluctuations.
The three major A-share indexes collectively made a correction today (March 4). As of the close, the Shanghai Composite Index fell 0.98%, losing 4,100 points, the Shenzhen Component Index fell 0.75%, and the ChiNext Index fell 1.41%. The turnover of Shanghai, Shenzhen and Beijing was 2.39 trillion yuan, a decrease of nearly 770 billion yuan from yesterday.
On the market, the agricultural concept is active, with many stocks in the seed industry sector hitting the daily limit. The only agriculture, animal husbandry and fishery ETF (159275) in the market bucked the trend and rose 1.81%; the military industry quickly counterattacked, with military industry ETF Warbao (512810) and general aviation ETF Warbao (1 59231) both rose by more than 1% on the market; AI computing power detonated the demand for electricity, and the power grid sector continued to be active. The core asset of "HALO"-power ETF Huabao (159146) closed up nearly 1% on the market, hitting a new listing closing high. In terms of decline, brokerage stocks fell across a large area, and the price of brokerage ETF (512000) fell by more than 2%.
In the past two days, A shares have performed poorly. China Galaxy Securities stated that the violent fluctuations in A-shares are not a trend change, but a concentrated release of short-term emotions under the superposition of external pressures. The mid- to long-term market's upward trend has not changed. It will gradually return from "emotion-driven" to "fundamental-driven", showing an operating pattern of "shock digestion, momentum improvement, and structural focus." The current valuation of A-shares is still at a reasonable level, long-term funds are gradually entering the market, and the market's mid- to long-term positive trend is clear. *
Regarding the specific allocation direction of the market outlook, Ping An Securities pointed out that the impact of macro events and fundamentals in March will increase (important meetings, economic data, Trump's planned visit to China, the approaching financial reporting season, etc.), combined with the recent increase in geopolitical risks, and market fluctuations are expected to be amplified. It is recommended to continue to grasp the two main lines of cyclical price increases and technology manufacturing that are supported by the prosperity. *
[Review of all-knowing ETF hot spots] Focus on the transactions and fundamentals of ETFs in industries such as agriculture, animal husbandry, fishery, military industry, and securities companies.
1. Favorable policies have been introduced intensively! The seed industry set off a rising trend, and the Agriculture, Animal Husbandry and Fishery ETF (159275) bucked the trend and rose 1.81%! Institutions: The value of sector allocation has increased significantly
The agriculture, animal husbandry and fishery sector bucked the market trend today (March 4). The only agriculture, animal husbandry and fishery ETF (159275) in the market rose rapidly after opening, and then continued to fluctuate at high levels. As of the close, the price on the market rose by 1.81%.
In terms of component stocks, the seed industry has made a large-scale rally. As of the close, Nongfa Seed Industry and Yasheng Group both hit their daily limit, and Shennong Seed Industry soared 11.19%. Tsuen Yin Hi-Tech, Long Ping Hi-Tech, Denghai Seed Industry and other stocks rose more than 7%.
In terms of news, agricultural support policies have been introduced intensively in many places! On March 3, Fujian issued implementation opinions anchoring agricultural and rural modernization and solidly promoting comprehensive rural revitalization, proposing to improve the quality and efficiency of characteristic modern agriculture development, focusing on grain production and circulation reserves, ensuring the supply of important agricultural products, cultivating tens of billions of characteristic agricultural industry clusters, and improving agricultural product cold chain logistics systems. On March 2, Sichuan issued the No. 1 Provincial Party Committee Document for 2026, clarifying that the annual grain sown area will be stable at more than 96 million acres, and the output will be stable at more than 73 billion kilograms.
Some analysts pointed out that from the perspective of variety fundamentals, the current upward trend in grain prices has been established, the fundamentals of the planting & seed industry are good, and large-scale planting investment opportunities are highlighted.
From a valuation perspective, the current valuation level of the agriculture, animal husbandry and fishery sector is still at a relatively low level, and this may be a good opportunity for sector allocation. Data show that as of the close of yesterday (March 3), the market-wide market's only agriculture, animal husbandry and fishery ETF (159275) underlying index CSI All-Agriculture, Animal Husbandry and Fishery Index had a price-to-book ratio of 2.55 times, which is at the low of the 31.96% quantile in the past five years, highlighting the cost-effectiveness of medium- and long-term allocations.
Looking forward to the market outlook, Huayuan Securities pointed out that agriculture, as the foundation of the country, is one of the few industries with "insufficient domestic supply, price decline in the past few years, asset prices at the bottom and capital withdrawal". Multiple attributes such as "confrontational asset premium" + "relatively independent and smooth industrial logic" + "protection of farmers' income needs" + "the overall sector valuation is at a historical low" have significantly increased the value of sector allocation. *
One-click layout for the reversal of the pig cycle, focusing on the only agriculture, animal husbandry and fishery ETF in the market (159275). According to statistics from the China Securities Index Company, the Agriculture, Animal Husbandry and Fishery ETF (159275) passively tracks the CSI All-Inclusive Agriculture, Animal Husbandry and Fishery Index. The heavyweight stocks include leading stocks in the pig breeding industry such as Muyuan Shares and Wen's Shares, and also cover major sub-sectors of the agriculture, animal husbandry and fishery industry chain such as feed, grain planting, and animal health. Off-market investors can also invest in the agriculture, animal husbandry and fishery sector through the Agriculture, Animal Husbandry and Fishery ETF Feeder Fund (Class A 013471/Class C 013472).
2. OpenAI joins hands with the Pentagon, military AI is booming! Military ETF Huabao (512810) bucked the trend and gained 2%! Aerospace Rainbow has 2 boards in 3 days, a record high for medium-sized UAVs
After the heavy setback, the military industry quickly counterattacked and returned to the top of the industry growth list! The main force took action upon hearing the news and made a large-scale return. The net purchase of the national defense and military industry exceeded 8.1 billion yuan throughout the day.
The core asset of the military industry - the military industry ETF Huabao (512810) opened low and moved high. It once bucked the trend and surged more than 2%, closing up 1.28% to regain its 20-day moving average. The amplitude exceeded 4.3% throughout the day, showing its high elasticity and high volatility. It is worth noting that in the past two days, a total of more than 94 million yuan was added to the position.
Aerospace, ground military equipment, and navigation equipment-related stocks were among the top gainers. China UAVs soared more than 18% during the session, hitting a record high. Aerospace Rainbow rose to its daily limit of 2 boards in 3 days, Guoke Military Industry rose 7.62%, and Zongshen Power, China Dynamics, Highlander and other stocks rose more than 5%.
In terms of news, international geopolitical conflicts have continued to escalate recently, and the military industry has continued to pay high attention. Analysts believe that intensified geopolitical risks will further strengthen expectations for military expenditure growth, and the certainty of procurement pace and scale will significantly increase. China's military trade may welcome opportunities for structural expansion.
According to media reports, OpenAI has reached an agreement with the U.S. Department of Defense to deploy its AI model on the Pentagon’s confidential network. The analysis pointed out that countries around the world are rushing to promote the application of AI in the military industry. AI has shown a revolutionary impact on national defense security, reshaping a new paradigm of national defense security, and the construction of systematic and intelligent equipment is expected to be strengthened.
[To invest in the military industry, choose "August 1"] The military ETF Huabao (512810) (formerly the National Defense and Military Industry ETF) with the code "August 1" brings together cutting-edge military technology in "sea, land, air and space" and comprehensively covers popular topics such as "commercial aerospace, large aircraft, low-altitude economy, satellite navigation, military informatization, controllable nuclear fusion". It is also the subject of margin financing and securities lending + interconnection, and is an efficient tool for one-click investment in core military assets.
3. Opportunities breed in dormancy! Brokerages hit a new low, institutions remind: It is necessary to seize the cost-effective layout window
The Shanghai Stock Exchange Index shrunk and closed below 4,100 points. The brokerage sector pulled back with the market, and individual stocks fell on a large scale. The price of the 38.5 billion top brokerage ETF (512000) fell by more than 2%, hitting a new low since July 2025.
As of the latest, the price-to-book ratio PB (LF) of the CSI Securities Company Index tracked by the brokerage ETF (512000) is only 1.4 times, falling back to the low range of 31.51% in the past 10 years. At the same time, funds are showing more obvious signs of "buying the dip". Data from the Shanghai Stock Exchange shows that the brokerage ETF (512000) has received a cumulative net inflow of 454 million yuan in the past five days.
In fact, since the second half of 2025, the brokerage sector has shown a stagflation trend with a significant mismatch between performance growth and valuation. The influence of market theme preferences and financial constraints may be the main reasons. As the sector once again reaches a cost-effective range, institutions suggest that multiple factors are expected to support the upward momentum of securities firms.
① Performance has maintained high growth, and market transactions have remained high. In 2025, the net profits attributable to shareholders of many securities companies have reached a record high. Since the beginning of the year, various market indicators have grown strongly year-on-year. It is expected that the performance in the first quarter of 2026 will continue to show high flexibility.
② Industry integration is accelerating. Soochow Securities recently announced the integration of Donghai Securities, marking a new stage of securities mergers and acquisitions in the region. As the first year of the "15th Five-Year Plan", 2026 is expected to accelerate the integration process of the securities industry and promote high-quality development of the industry.
③ The valuations and positions of the brokerage sector are at historically low levels, and institutions’ allocation ratios to brokerages are mismatched with industry prosperity. In the future, driven by factors such as the continued implementation of public offering benchmarks, the sector is expected to gain upward elasticity.
At present, despite the rise in short-term geopolitical risks, supporting factors such as the domestic two sessions, loose liquidity, and profit restoration are still there, and the market may be gaming the expectations of easing policies. Great Wall Securities pointed out that the brokerage sector is in the stage of "high prosperity + low central valuation + marginal easing of capital suppression". In the short term, it is likely to fluctuate with high market fluctuations, but in the medium term, it is still on an upward channel of valuation repair, with high cost performance. *
If there is a market trend, buy a broker! The Brokerage ETF (512000) and its feeder funds (Class A 006098; Class C 007531) passively track the CSI All-Inclusive Securities Company Index, covering 49 listed brokerage stocks with one click. It is an efficient investment tool that concentrates on leading securities firms while also taking into account small and medium-sized securities firms. The latest fund size of the Securities ETF (512000) exceeds 38.5 billion yuan, and the average daily trading volume during the year exceeded 1.1 billion yuan. It is the top securities industry ETF with the largest A-share scale and liquidity.
Note 1: When investors subscribe and redeem fund shares, the subscription and redemption agent may charge a commission of no more than 0.5%, which includes relevant fees charged by stock exchanges, registration agencies, etc. Please refer to the legal documents of each fund for details of fund rates.
Note 2: The only agriculture, animal husbandry and fishery ETF in the market (159275) refers to the only ETF that tracks the CSI All-Inclusive Agriculture, Animal Husbandry and Fishing Index.
Reminder: The market may be volatile in the near future, and short-term increases and decreases do not predict future performance. Investors are requested to invest rationally based on their own financial situation and risk tolerance, and pay close attention to position and risk management.
* Sources of reference materials for institutional views: ① Galaxy Securities' March 3, 2026 strategic research "The "positive and negative hands" of A-share market fluctuations and investment prospects"; ② Ping An Securities' March 3, 2026 strategic allocation research "Grasping the two main lines of cyclical price increases and technological manufacturing that are supported by the economy" ; ③ Huayuan Securities' regular report on the agriculture, forestry, animal husbandry and fishery industry on March 3, 2026 "Pork prices continue to decline, and cycle reversal can be expected"; ④ Great Wall Securities 20250303 "Accelerate the merger and acquisition of local state-owned assets and continue to build a first-class investment bank - Comments on Soochow Securities' proposed acquisition of Donghai Securities".
Risk warning: The general aviation ETF Warbao passively tracks the National Securities General Aviation Industry Index, the index's base day is 2012.6.29, and was released on 2012.12.28; the Agriculture, Animal Husbandry and Fishery ETF passively tracks the CSI All Agriculture, Animal Husbandry and Fishery Index, the index's base day is 2004.12.31, and was released on 2016.12.12; the military industry ETF Warbao passively tracks the CSI Military Industry Index, the index The base day is 2004.12.31 and was released on 2013.12.26; the power ETF Huabao passively tracks the CSI All-Share Electric Power Utilities Index, which has a base day of 2004.12.31 and was released on 2013.7.15; the brokerage ETF passively tracks the CSI All-Share Securities Company Index, which has a base day of 2007.6.29 and was released on 2013.7.15. The composition of index constituent stocks is adjusted in a timely manner according to the index compilation rules, and its backtested historical performance does not predict the future performance of the index. The individual stocks mentioned in the article are only an objective display of index constituent stocks and do not serve as recommendations for any individual stocks. They do not represent the investment direction of the fund manager or fund. Any information appearing in this article (including but not limited to individual stocks, comments, predictions, charts, indicators, theories, any form of expression, etc.) is for reference only, and investors must be responsible for any independent investment decisions. In addition, any opinions, analyzes and predictions in this article do not constitute any form of investment advice to readers, and we are not responsible for any direct or indirect losses caused by the use of the content of this article. Investors should carefully read fund legal documents such as the "Fund Contract", "Prospectus", "Fund Product Information Summary", understand the risk and return characteristics of the fund, and choose products that are consistent with their own risk tolerance. The past performance of a fund does not predict its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of the fund's performance. According to the fund manager's assessment, the risk level of the military ETF Warburg, the general aviation ETF Warburg, the agriculture, animal husbandry and fishery ETF, the power ETF Warburg, and the brokerage ETF are R3-medium risk and are suitable for balanced (C3) and above investors. Please refer to the sales agency for suitability matching opinions. Sales agencies (including direct sales agencies of fund managers and other sales agencies) conduct risk assessments on the above funds in accordance with relevant laws and regulations. Investors should pay attention to the suitability opinions issued by the fund managers in a timely manner. The opinions on suitability of each sales agency are not necessarily consistent, and the fund product risk level evaluation results issued by the fund sales agencies must not be lower than the risk level evaluation results made by the fund manager. There are differences in the fund risk-return characteristics and fund risk levels in the fund contract due to different considerations. Investors should understand the risks and returns of funds, carefully select fund products based on their own investment purposes, duration, investment experience and risk tolerance, and bear their own risks. The registration of the above funds by the China Securities Regulatory Commission does not indicate that it has made a substantial judgment or guarantee on the investment value, market prospects and income of the fund. Fund investments must be made with caution.
Recently, Chinese citizens in Russia have clearly felt a "tide of returning home." Since late February, the price of air tickets from Moscow to major domestic cities such as Beijing and Shanghai has increased rapidly. Economy class has been frequently sold out during popular periods, and many flights have only high-priced business class or connecting tickets that require multiple transfers. Some international students and Chinese people who have been working and living in Russia for a long time said that ticket prices, which were relatively stable in previous years, have now almost doubled, and tickets need to be purchased more than half a month in advance.
This change is closely related to a new regulation in Russia targeting foreigners’ long-term residence. On November 5, 2025, Russian President Vladimir Putin signed Presidential Decree No. 821 "Provisional Regulations on the Acceptance of Applications for Citizenship of the Russian Federation and the Issuance of Long-term Residence Permits in the Russian Federation."
According to the regulations, when eligible foreign men apply for a long-term residence permit in Russia, they need to choose between "signing a military service contract for at least one year" or "providing a certificate of exemption from service." Although the decree came into effect last year, after February 2026, the implementation has become significantly stricter in some areas. Applicants in the Far East have been asked to sign a service contract on the spot, and the impact of the policy has quickly emerged.
At the same time, on February 22, 2026, the Chinese Consulate General in Vladivostok issued a reminder and officially posted it on the official website on February 24, reminding Chinese citizens in the consular district to pay attention to relevant policy changes and make prudent decisions based on their own circumstances. The official reminder further amplified public attention and prompted some people who originally planned to stay for a long time to reassess their future arrangements and speed up their return trip.
It should be noted that this new regulation is not “one size fits all”. Those who have obtained a long-term residence permit or permanent residence status in Russia are not affected; Chinese citizens holding student visas, tourist visas or short-term business visas are also not within the scope of application. Those who are really affected are foreign male groups aged 18 to 65 who are applying for long-term residence permits. Public information shows that there are currently about 220,000 to 270,000 Chinese citizens in Russia, including about 110,000 to 135,000 men. However, those who actually need to choose between military service and residence are only some people who are applying for permanent residence.
In the departure hall of Moscow Sheremetyevo Airport, the number of Chinese faces dragging suitcases increased significantly. Some people originally planned to settle down for a long time, but now they have changed their plans temporarily; some people stayed up late refreshing the ticket purchase page, just to get back home as soon as possible. "It doesn't matter if you spend more money, as long as you get home safely." This sentence expresses the true feelings of many people.
The Dutch cabinet is considering sending a naval ship to the Mediterranean. France made the request, Foreign Minister Berenson and Defense Minister Yesilgoz wrote in a letter to the second chamber on Wednesday.
France's request involves the deployment of the air defense command frigate "Zr. Ms. Evertsen" to the eastern Mediterranean for defense. France hopes that the ship will support the French aircraft carrier "Charles de Gaulle" in its operations in the eastern Mediterranean.
The "Everson" is currently a member of the fleet sailing with the "Charles de Gaulle". However, deployment to the eastern Mediterranean requires political approval. France wants to deploy aircraft carriers to the region to help protect trade and oil and gas supplies.
"Charles de Gaulle" is the largest aircraft carrier in the European Union. Along with the U.S. aircraft carrier, the French carrier is currently the only two in the world powered by nuclear reactors.
Just a day earlier, a British military base in Cyprus was attacked by a drone. This incident marked the first time that an EU member state directly intervened in the conflict in Iran and surrounding areas. Previously, the United Kingdom had decided to send military equipment to Iran.
Recently, the United States and Israel launched air strikes on Iran, resulting in the death of Iran's Supreme Leader Ayatollah Ali Khamenei, and the situation in the Middle East has rapidly deteriorated. Iran retaliated by attacking U.S. military bases in at least nine countries in the region.
Netherlands plans to give green light to jointly develop nuclear weapons with France
Like the Dutch cabinet, the Dutch second chamber appears to be positive about French President Emmanuel Macron's proposal to strengthen cooperation on nuclear weapons. In particular, the Democratic 66 Party, the Liberal Democratic Party and the Christian Democrats in the ruling coalition all hope to accept this challenge. The atmosphere is very different from recent decades.
In a speech on France's nuclear strategy on Monday, Macron said he wanted to expand France's nuclear arsenal and cooperate with several European countries, including the Netherlands.
Although Dutch policy has so far focused mainly on limiting the number of nuclear weapons in the world, Jetten's cabinet immediately announced its willingness to engage in dialogue with France. The Second House appears to provide space for this as well.
"We have seen that Russia's aggressive behavior is very serious, and we must ensure our own security in Europe, which also includes nuclear security," said Belhirsi, a member of the Democratic Six-Sixth Party.
Breckelmans, chairman of the Liberal Democratic Party's parliamentary group, also welcomed Macron's desire to strengthen European cooperation and deploy French nuclear weapons, believing that this is "more to defend Europe" and "more to deter the enemy."
CDU lawmaker Van Ranschott added that Europe can only have a strong position in the world through cooperation among its member states, "so we see Macron's extended hand as a positive development."
The reaction of the largest opposition party, the Green Party-Labor Alliance (GroenLinks-PvdA), was more cautious, but given the unpredictability of the international situation, MP Piri still considered France's negotiation proposal "very interesting."
"We are currently very dependent on the United States for defence. My parliamentary group believes that it is absolutely necessary that we reduce this dependence," Pirie said. However, she added that it should not be considered "safe only to have nuclear weapons against the most powerful countries".
Another opposition party, the Socialist Party, firmly opposed this proposal. Congressman Dobe said more nuclear weapons could lead to a new nuclear arms race like the one during the Cold War, which would only make the world less safe.
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China News Service, Beijing, January 30 (Reporter Zuo Yuqing) A "nut gift box" with a net weight of 958 grams is advertised, but in fact it only has 33 grams of real nuts, and the rest is 660 grams of drinks and some biscuit snacks. Recently, Baicao’s “Nut Gift Box” has caused controversy.
Faced with doubts, Baicaowei blamed the dealers. According to media reports, Baicaowei claimed that the gift boxes involved were assembled by the dealers themselves and that the official store had never sold the product. It had instructed dealers to remove all the gift boxes from the shelves.
However, this response is unconvincing. China News Network noticed that although Baicaowei tried to "pass the blame" to distributors, similar gift boxes were still on sale in its official flagship store.
For example, a "nut snack gift box" weighing 1,260 grams in its official flagship store is marked in large characters on the product sales page with "10 large items weighing 2.5 pounds", and the promotional pictures are all nuts. However, nearly 70% of the weight of the gift box actually comes from "nut plant protein drink", jelly refreshing and gray dates, which obviously contradicts Baicaowei's explanation of "only a dealer behavior".
Yan Bing, senior partner of Times Jiuhe Law Firm, pointed out that the graphic introduction of such "nut gift boxes" is enough to make most consumers mistakenly believe that the gift boxes contain real nuts, which has a substantial impact on consumers' purchasing behavior. Therefore, this behavior violates consumers' right to know the truth and is suspected of fraud. Consumers can claim "refund one and compensate three".
As a brand owner, Baicaowei has unshirkable publicity, review and quality supervision responsibilities for both directly operated stores and authorized distribution channels. Denying the "official" nature of the "Nut Gift Box" involved and simply blaming the problem on the channel is not only difficult to convince the public, but also exposes loopholes in its internal control, which is not conducive to maintaining consumer trust.
What's more, they only removed the gift boxes involved from the shelves, focusing the verification and rectification on the omni-channel brand authorization logo, but did not modify the promotional images and logos that may mislead consumers. Similar gift boxes in the official flagship store are still being sold normally, which is difficult to reflect the sincerity of Baicaowei's rectification.
Using beautiful pictures and vague labels to mislead consumers is a long-standing "routine" in the current consumer market. Merchants often highlight "high value" and "sufficient quantity" visually and textually, but they "secretly make a fuss" about the physical composition. This type of approach may increase sales in the short term, but in the long run, it seriously overdrafts consumers' trust in the brand.
The evergreen brand comes from integrity. Baicaowei should not use dealers as a "shield", but should truly recognize the problem, comprehensively review the authenticity and transparency of product promotion, clearly identify the actual content of various products in the gift box, so that consumers can clearly understand the purchase. Only in this way can we truly safeguard the trust and future of the market. (over)
Recently, the well-known Hong Kong actress Carina Lau posted pictures of herself vacationing at the beach on social platforms, with the caption: "With a good attitude, everything is fine!" Moreover, these photos were in swimsuits, which attracted countless netizens to watch.
I have to say that vacationing at the beach, with the beautiful scenery of blue sea and blue sky, really makes people feel happy. On the day she was at the beach, she wore a black swimsuit, a sun hat, and sunglasses. However, Carina Lau was not wearing a bikini and was more conservative. Even so, she still showed off her good figure with bulging front and back, which is very enviable.
In another photo, Carina Lau is leaning on the stairs, showing off a pair of slender long legs. It is worth mentioning that she is 58 years old, but her skin is not at all what it should be if she is over fifty. It is very white and tender. I really don’t know how she maintains it. It is really enviable.
However, Carina Lau's vacation at the beach was indeed very casual and very chic. She covered her face with a hat and lay in a hammock with the crystal clear water below. It didn't look like she was in China. I don't know. Wherever she goes on vacation, she can rest assured. Although the scenery is pleasant, she is still not as good as Carina Lau. Her legs are intertwined, showing off her excellent body proportions. Her front and back are very hot, and her long legs are even more eye-catching when seen up close.
Although Carina Lau is 58 years old, she has maintained her condition so well that she is an age-freezing goddess. Although she rarely films anymore, I still look forward to seeing her on the big screen again to show off her superb acting skills. I wish her more and more beauty in the future, and she will stay ageless forever.
Original Blue Whale Blue Whale News
Blue Whale News March 31 (Reporter Tang Shiyun) The trend of rising badminton prices continues into this year. “Basically, there are no balls that cost less than 100 yuan now that can be played,” a badminton enthusiast told the Blue Whale reporter. Since the beginning of the new year, many badminton manufacturers have raised their prices, and Victor and others will increase their prices again tomorrow (April 1). Is a new round of badminton price increases coming?
Badminton prices outperformed gold: many brands increased prices again, with some models doubling in price in two years
Recently, a price adjustment notice about badminton head brand Victor has circulated on the Internet - due to the continued increase in raw material costs, our company will adjust the price of badminton from April 1. In this regard, Blue Whale reporters asked Weike's sales staff for verification and learned that the price increase announcement was true.
The specific price list shows that the recommended retail price of Master ACE is 337 yuan per dozen, and the price of Master No. 1 is also 280 yuan. Compared with a year ago, carbon sound balls have maintained their original prices, while Victor goose feather and duck feather series badminton products have increased in price almost across the board, with an increase of about 15%-50%.
Online price adjustment notice
In addition, the price of Yonex badminton and uniforms in Japan has increased again and will be implemented from April 1. The reporter learned from the customer service offices of Yonex Tmall and JD.com flagship stores that no price adjustment notification has been received in China. Since the beginning of the new year, many brands such as Lingmei, Xunfeng and Kongfengkong have announced price increases. Industry insiders told Blue Whale reporters that almost all brands of badminton have generally increased in price this year, with an average increase of about 10%.
In a consumer environment characterized by price wars, the continuous price increases of badminton are particularly noticeable. In July last year, a new round of price increases by badminton manufacturers such as Yonex, Double Happiness, Lingmei, Victor, Super Brand, and Asia Lion caused heated discussions. Compared with 2023, the price increase of badminton head manufacturers has exceeded 20% on average, and the price increase of some models of badminton has exceeded 60%.
Take Yonex, the "King of Price Increases", as an example. The retail price of its mainstream high-end AS-05 badminton model has increased from 210 yuan/dozen to 225 yuan/dozen before April 2024. After July, the price soared further, reaching 275 yuan/dozen. Chen Zui, a senior badminton enthusiast, told Blue Whale News that he bought this ball from a wholesaler for 95 yuan per dozen more than two years ago, but now the price of the product has risen to 190 yuan. Based on this calculation, the price of this model of badminton has increased by 100% in two years, which is higher than the increase of gold in the same period.
The reason for the price increase of badminton is one of the focuses of discussion. Blue Whale reporters learned from industry insiders and senior fans that the logic of the new wave of price increases is basically the same as last year. Market demand continues to grow, but the imbalance between supply and demand for pornographic films has not improved. In this wave, some people raised prices to collect profits in an attempt to form a monopoly situation, and badminton prices continued to rise.
It is worth noting that not only badminton, but the price of badminton strings has also increased. Recently, many stringers and studios have announced new racket stringing price lists online. Some stringers revealed that the price of Yonex threads has increased, with the price of a single piece rising by RMB 1-8. In addition, there are also domestic brands such as Sakura Feather Products that have issued feather line price adjustment notices. Some people believe that the increase in the price of badminton-related products is a manifestation of the explosion of this sport.
Pingtai is popular: Sales of second-hand old balls are booming, and one online store has sold more than 50,000
The topic "I can't afford to play badminton with a monthly salary of 20,000 yuan" was a hot topic at one time. Badminton is a consumable, and the second-hand ball business is attracting increasing attention due to the continued price increase.
Blue Whale reporters searched and found that there are currently a large number of second-hand badmintons for sale on e-commerce platforms, which are basically used for training. The quality is mainly 8-95% new, and the price of a ball generally ranges from 20-100 yuan. In terms of brands, some stores will sell a mix of them, while others will specifically select them. For example, 95% new yy05s are sold for 95 yuan per dozen, which is probably less than 1/2 of the regular price.
Some stores told reporters that badminton balls that are 80% to 90% new may have broken hair, while balls that are over 950% new will be sorted out without broken hair. For ordinary training enthusiasts, second-hand balls are very cost-effective, and some online stores have sold more than 50,000 pieces.
The reporter learned from stores and badminton coaches that these second-hand badmintons are usually recycled from gymnasiums, and the vendors who collect them will repair them and sell them. "A badminton that has become 9-8 new can still be played, but it is definitely not comparable to a brand-new one."
The profit from second-hand badminton is not low. According to the second-hand badminton purchase price list provided by the coach interviewed, even if the price is 30 yuan per bucket, there is still a profit of more than 10 yuan, with a profit margin of over 60%.
Although the topic of rising badminton prices has been a hot topic, badminton enthusiast Peter believes that badminton is generally a less expensive sport, and equipment such as rackets and sneakers are very durable. The rising price of badminton consumables may dissuade some newcomers, but it will not have a great impact on organized golfers and club operations. Because clubs generally have hundreds to thousands of people, you can get relatively low prices when purchasing in bulk.
On the other hand, the material of badminton may change, and its cost and selling price will not remain high. Peter said that as the texture and craftsmanship of imitation balls gradually improve, badminton will also develop in a more sustainable direction.
"For example, the current natural badminton is more susceptible to wind interference when played outdoors. If badminton develops towards outdoor sports in the future, then a ball made of feathers will not be suitable. Therefore, the future development of badminton will depend to a certain extent on what the ball will look like in the future.
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