傳媒互聯網產業行業研究：逐步迴歸平靜

國金證券

2025/11/30

（以下內容從國金證券《傳媒互聯網產業行業研究：逐步迴歸平靜》研報附件原文摘錄）本週觀點逐步迴歸平靜：教育：景氣略有承壓，國內中小機構供給增加，競爭邊際加劇，龍頭阿爾法能力逐漸趨穩。據教育部，2026屆全國普通高校畢業生規模預計同比增加48萬人至1270萬人，2026年全國碩士研究生考試報名人數同比下降45萬至343萬。奢侈品與博彩：受益於財富效應，內地高端消費景氣有所回暖。據太陽報，全球最大眼鏡...

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