Subtitle: Sportswear, Gold & Jewelry, Luxury Goods, and Pop Mart
On April 1, we officially launched Baiguan Pro, our professional-tier subscription designed for investors seeking deeper, more specific coverage of Chinese equities. Baiguan Pro delivers the Baiguan team’s monthly outlook on overall Chinese equity assets, our quarterly focus on themes and sectors, richer company-level analysis, and follow-ups on the ideas and companies previously presented in the newsletter.
If you missed our launch piece, you can read it:
[ Small preview: https://www.baiguan.news/p/baiguan-pro-china-assets-a-shares-hk-stocks-acwi-overweight-national-team-crrai-retail-institutional-sentiment-robotaxi-autonomous-vehicles-dividends-buybacks-soes-going-overseas-global-expansion-evs-experiential-consumption-ip-driven-pop-mart ]
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We are updating four sectors that we recently wrote about in the Baiguan newsletter, with BigOne Lab’s proprietary data as of March 2026:
At BigOne Lab, we curate data highlights, analyze them, and deliver insights trusted by 100+ top institutional and corporate clients worldwide.
🔒 The following content is available to Baiguan Pro subscribers.
Bottom line: March growth moderated from the elevated January–February base, but Q1 as a whole delivered meaningful sequential acceleration versus Q4 — particularly for integrated brands and running shoes.
January–February's strong performance was shaped by a confluence of one-offs: delayed winter demand from a warm December, the Chinese New Year week pull-forward, and Winter Olympics-related brand exposure. As those tailwinds faded, March growth naturally cooled. But stepping back to Q1 as a whole, the sequential improvement over Q4 is real across the board: