上周传媒板块指数下跌 2.40%，上证综指下跌 1.32%，深证成指下跌2.73%，创业板指下跌 3.31%。板块涨幅前三万家文化（21.00%）、印纪传媒（8.48%）、皖新传媒（8.34%）；板块涨幅后三世纪华通（-31.52%）、幸福蓝海（-14.88%）、上海电影（-14.37%）；上周创业板成长股杀跌带动板块下调，年度策略推荐标的文投控股（3.13%）表现良好。 

总量和结构的差距。当前我国实现体育行业增加值、体育票房收入、赞助收入、票价等相对水平远低于国外，同时我国经济仍在快速发展，因此体育行业绝对值空间巨大；而我国体育服务业在体育行业占比不超过 20%，美日等均超过50%，体育产业结构有待优化，体育服务业空间更大。 

Fish keeping is among the most popular of hobbies among millions of enthusiasts around the world. The US is the single largest importer of ornamental fish in the world. More than 2,500 marine fish species and 750 invertebrates have been imported into the US since 2000 to meet the demand of hobbyists in the country. On the contrary, countries in the European Union collectively form the largest market for ornamental fish. The growing demand for ornamental fish among hobbyists is fostering the sale of aquarium accessories is increasing. The global aquarium accessories market is expected to grow at a CAGR of 4.82%, during the forecast period.

Visual analytics is an emerging field of analytics that involves the use of visualization, data mining, and statistics to handle massive volumes of data. This is done with the help of human judgement by means of visual representations and interaction techniques. In visual analytics, instead of limiting the analysis to predefined metrics to examine data and study relations between parameters, data analysts are increasingly incorporating analytical reasoning and advanced computation with data visualization. business intelligence tools employ data in tabular forms. Whereas, visual analytics applies tools and practices, which make it easier for non-technical users to interact with the data through visual representations. It enables users to engage in analytical processes through visual representations, which are supported by computer graphics engines with integrated in-memory storage of data. This process facilitates rapid updates of multiple visualizations.

Musical instruments refer to tools or devices that are used to create musical sounds. Musical instruments are made up of materials such as wood, metal, string, and nondurable materials. Some of the most commonly used musical instruments are guitar, piano, wind instruments, keyboard, and percussion.

Competency-based education is an educational model in which the emphasis is primarily on acquiring proficiency in skills that are measured through assessments along with credits given to skills learned through work experience or in earlier programs. It differs from traditional education models that rely on a credit hour-based system of credentialing. While traditional educational models are fixed-time models, in competency-based education programs, student competency and learning are the areas of focus with time being a variable, as in competency-based education, since the learning is self-paced, students can prioritize modules, and accordingly allot time for each module.

国家相关机构统计数据表明，目前我国在运动人群基数不断扩大的基础上，参与体育运动的人群年龄结构较为平均，除课程要求必须参加体育运动的学生群体与不适宜进行体育运动的高龄群体外，各个年龄段的运动人群并没有明显的数量级差，参与运动健身的人群呈现随年龄增长逐步微调的态势。因此，Analysys易观分析认为，运动健身已成为大众生活方式之一。

进入2017 年，证监会、广电等外部监管处于严厉状态，暂无松动迹象，且前期并购对赌到期后隐含商誉风险，板块性机会难以出现，但传媒板块高估值经过一年的消化，且从2016 年四季度以来我们一直观察传媒板块持仓已明显下降，随着对于成长股风险偏好影响，不排除最紧张阶段已过；板块通过并购产生的增长红利逐渐消失，关注点将重新回到公司自身质量，板块预计将出现分化行情，重点关注标的内生性增长带来的机会。尤其是十二月最后一周我们持续提示的蓝色光标涨幅第一，与部分个股跌幅居前形成反差。

跨境电商4.8新政，通过调整税收的方式进而调节市场结构，对B2C模式的中小电商造成一定的冲击，并将过渡期放宽至一年，暂缓靴子落地，给予市场充分的调整时间。