Shanghai After Dark: The Rebirth of a Responsible Nightlife Economy (2025 Industry White Paper)

[Section 1: The New Market Reality]• Current Valuation: ¥34.2 billion ($4.7 billion)• Operational Venues: 3,105 (28% consolidation since 2020)• Employment Impact: 106,800 quality positions (+22% since 2022)• Customer Profile: - Domestic c