本文核心数据：产业链生态图谱;代表性企业业务业绩 产业链剖析：中游为核心环节 轻食产业的上游为包装、设备及原材料，具体包括餐具餐盒等包装耗材、冷鲜和烹饪等设备供应以及蔬 果肉类等食品原材料;中游为轻食产品供应，包括主食类轻食、零食类轻食、代餐类轻食、饮品类轻 食、烘焙类轻食等;轻食下游销售渠道主要有：电商、外卖平台、自有门店和超市等。 轻食产业的上游为包装、设备及原材料供应商主要包括：富岭股份、南王科技、海容冷链、银都股份、 宏辉果蔬、圣农发展、福成股份等;中游轻食跨赛道供应商主要包括：奈雪的茶、三只松鼠、良品铺子 等;中游轻食品牌供应商主要包括：袋鼠先生、薄荷健康、暴肌独角兽、鲨鱼菲特等。 转自：前瞻产业研究院 行业主要上市公司：奈雪的茶(02150.HK)、三只松鼠(300783.SZ)、良品铺子(603719.SH)、康比特 (833429.BJ)、KEEP(03650.HK)等 轻食行业上市企业业务业绩情况 2024年，奈雪的茶轻食产品销量可观且性价比突出，三只松鼠轻食子品牌单品销量亮眼，康比特运动补 给套餐销量与复购率良好，西麦食品在抖音冲饮燕麦类目市占率领先。 轻食产业链区域 热力地图：集中在经济 ...

Core Viewpoint - The Hong Kong stock market has seen a decline in new consumption concept stocks, with several companies experiencing significant drops in their stock prices [1][2]. Group 1: Stock Performance - Wei Long Mei Wei (卫龙美味) fell by 6.72%, with a latest price of 12.220 and a market capitalization of 29.709 billion [2]. - Bluestone (布鲁可) decreased by 5.91%, priced at 97.950, with a total market value of 24.37 billion [2]. - Naixue's Tea (奈雪的茶) dropped by 5.65%, trading at 1.170, and has a market cap of 1.995 billion [2]. - Hu Shang A Yi (沪上阿姨) saw a decline of 5.57%, with a price of 111.900 and a market capitalization of 11.772 billion [2]. - Miniso (名创优品) decreased by 5.51%, priced at 41.880, with a total market value of 51.164 billion [2]. - Pop Mart (泡泡玛特) fell by 5.14%, trading at 273.400, with a market cap of 367.161 billion [2]. - XPeng Motors (小鹏汽车-W) decreased by 4.77%, with a latest price of 78.850 and a market capitalization of 150.328 billion [2]. - Mixue Group (密雪集团) dropped by 4.68%, priced at 423.400, with a market cap of 160.731 billion [2]. - Gu Ming (古茗) saw a decline of 4.66%, trading at 24.120, with a total market value of 57.362 billion [2]. - Shangmei Co., Ltd. (上美股份) decreased by 4.74%, with a price of 95.550 and a market capitalization of 38.039 billion [2].

Group 1: Heart Disease Medical Devices - Haitong International maintains an "outperform" rating for Xintai Medical, with a target price of HKD 28.94, highlighting its leadership in congenital heart disease intervention devices and a projected revenue growth of 32.4% year-on-year for H1 2025 [1] Group 2: Express Delivery Services - CITIC Securities maintains a "buy" rating for Jitu Express, noting a 23.1% year-on-year increase in parcel volume in Q3, with Southeast Asia's growth rate reaching 78.7%, driven by cost and efficiency advantages [2] - Shenwan Hongyuan also maintains an "accumulate" rating for Jitu Express, reporting a market share increase to 32.8% and a recovery in domestic express delivery prices, despite a downward revision in profit forecasts [3] Group 3: Healthcare and Medical Services - CITIC Jiantou maintains a "buy" rating for China Resources Medical, indicating that while H1 2025 performance may be pressured by declining average medical insurance fees, the company holds a solid regional leadership position [4] - CITIC Jiantou also maintains a "buy" rating for Weitai Medical, projecting a 63.1% year-on-year revenue growth for H1 2025, with significant narrowing of losses and potential for breakeven by year-end [5] Group 4: Consumer Goods and Retail - Guosen Securities maintains an "outperform" rating for Shangmei Co., with a target price of HKD 120.9, emphasizing strong growth in net profit at a compound annual growth rate of 130% from 2022 to 2024 [6] - Huaxin Securities maintains an "accumulate" rating for Nayuki Tea, benefiting from demand catalyzed by Meituan's delivery subsidies and seasonal effects, with improved profitability through product innovation [7] - Huaxin Securities also maintains a "buy" rating for Wugu Mofang, reporting a 14% revenue growth and an 18% net profit increase for H1 2025, driven by strong performance in offline channels [8] Group 5: Food and Beverage - Guangda Securities maintains an "accumulate" rating for Xiaocaiyuan, noting its position as a leading casual dining chain with a customer price range of HKD 50-70, and plans to expand to 1,000 stores by the end of 2026 [10] - Xibu Securities initiates coverage on China Resources Beverages with an "accumulate" rating and a target price of HKD 15, highlighting a market share of 32.7% and improvements in gross margin through increased self-production [11]

Group 1 - The article highlights new product launches in the baking industry, showcasing various innovative items from different brands [2][4][5][6][7][10][11][12][15][18][21][23][26][29][32][35][37][40][42][45][47][49][52][55][57][60][62][64][67][70][72][75][79][80][82][85][86][89][92][96][100][105][107][111][113][115][118][121][123][125][130][132][134][136][139][141][144][145][147][149][150][152][155][159][161][162][163][164][165][166][167][168][169][171][172][173][175][177][179][182] Group 2 - The article discusses the rise of supermarket baking and the competition among chain bakeries, indicating a shift in consumer preferences and market dynamics [182] - It mentions the importance of fresh ingredients and innovative techniques in the baking sector, emphasizing the need for differentiation in a competitive landscape [182] - The article also touches on the challenges faced by bakeries, including closures and the need for operational efficiency to remain profitable [182]

消息面上，据市场多家媒体报道，2025年中秋与国庆"双节叠加"，在"假日经济""出游热潮"等因素带动 下，新茶饮品牌门店迎来客流量高峰。茶百道公布的数据显示，有景区门店销量增幅近2800%。"'赏秋 经济'直接带动了我们景区门店、秋季新品的销售业绩。"茶百道相关负责人表示，南京、桂林等热 门"赏秋"城市的景区门店销量增幅普遍超600%。霸王茶姬在交通枢纽店、热门旅游城市、景点门店增 幅也尤为显著。其中上海、四川、广州等地多家门店日均杯量超过2500。 奈雪的茶国内门店也引来消费热潮，全国门店店均订单量与营收同比实现双增长，多地门店环比节前增 长超700%，其中不乏成都、大连、横店等热门旅游城市门店。值得一提的是，奈雪的茶近期正式在美 国市场开店，开业三天营业额近8.7万美元(约62万元人民币)，三日售出近1.3万份产品，刷新奈雪门店 开业纪录。随着美国首店的落地，奈雪海外拓展步伐明显加快。据奈雪海外业务负责人透露，奈雪美国 第二家门店已确定落户纽约长岛核心商业区，目前进入收尾阶段，预计近期开业。 智通财经APP获悉，茶饮股逆势走强，截至发稿，古茗(01364)涨13.51%，报24.36港元；奈雪的茶 (02 ...

奈雪的茶国内门店也引来消费热潮，全国门店店均订单量与营收同比实现双增长，多地门店环比节前增 长超700%，其中不乏成都、大连、横店等热门旅游城市门店。值得一提的是，奈雪的茶近期正式在美 国市场开店，开业三天营业额近8.7万美元(约62万元人民币)，三日售出近1.3万份产品，刷新奈雪门店 开业纪录。随着美国首店的落地，奈雪海外拓展步伐明显加快。据奈雪海外业务负责人透露，奈雪美国 第二家门店已确定落户纽约长岛核心商业区，目前进入收尾阶段，预计近期开业。 茶饮股逆势走强，截至发稿，古茗(01364)涨13.51%，报24.36港元；奈雪的茶(02150)涨6.45%，报1.32港 元；蜜雪集团(02097)涨6.28%，报426.4港元；沪上阿姨(02589)涨3.28%，报122.8港元；茶百道(02555) 涨3.16%，报8.48港元。 消息面上，据市场多家媒体报道，2025年中秋与国庆"双节叠加"，在"假日经济""出游热潮"等因素带动 下，新茶饮品牌门店迎来客流量高峰。茶百道公布的数据显示，有景区门店销量增幅近2800%。"'赏秋 经济'直接带动了我们景区门店、秋季新品的销售业绩。"茶百道相关负责人表示，南 ...

奈雪的茶国内门店也引来消费热潮，全国门店店均订单量与营收同比实现双增长，多地门店环比节前增 长超700%，其中不乏成都、大连、横店等热门旅游城市门店。值得一提的是，奈雪的茶近期正式在美 国市场开店，开业三天营业额近8.7万美元(约62万元人民币)，三日售出近1.3万份产品，刷新奈雪门店 开业纪录。随着美国首店的落地，奈雪海外拓展步伐明显加快。据奈雪海外业务负责人透露，奈雪美国 第二家门店已确定落户纽约长岛核心商业区，目前进入收尾阶段，预计近期开业。 消息面上，据市场多家媒体报道，2025年中秋与国庆"双节叠加"，在"假日经济""出游热潮"等因素带动 下，新茶饮品牌门店迎来客流量高峰。茶百道公布的数据显示，有景区门店销量增幅近2800%。"'赏秋 经济'直接带动了我们景区门店、秋季新品的销售业绩。"茶百道相关负责人表示，南京、桂林等热 门"赏秋"城市的景区门店销量增幅普遍超600%。霸王茶姬在交通枢纽店、热门旅游城市、景点门店增 幅也尤为显著。其中上海、四川、广州等地多家门店日均杯量超过2500。 智通财经APP获悉，茶饮股逆势走强，截至发稿，古茗(01364)涨13.51%，报24.36港元；奈雪的茶 (02 ...

消息面上，近日，奈雪的茶正式登陆美国市场，首店位于纽约华人/亚裔最集中商业区域——法拉盛。 据悉，奈雪美国首店开业三天营业额近8.7万美金(约62万人民币)，三日售出近1.3万份产品，刷新奈雪 门店开业纪录。值得关注的是，随着美国首店的成功落地，奈雪海外拓展步伐明显加快。据奈雪海外业 务负责人透露，奈雪美国第二家门店已确定落户纽约长岛核心商业区，目前进入收尾阶段，预计近期开 业。此外，国庆长假，奈雪国内门店也引来消费热潮，全国门店店均订单量与营收同比实现双增长，多 地门店环比节前增长超700%。 奈雪的茶(02150)涨近9%，截至发稿，涨8.87%，报1.35港元，成交额729.43万港元。 ...

智通财经APP获悉，奈雪的茶(02150)涨近9%，截至发稿，涨8.87%，报1.35港元，成交额729.43万港 元。 消息面上，近日，奈雪的茶正式登陆美国市场，首店位于纽约华人/亚裔最集中商业区域——法拉盛。 据悉，奈雪美国首店开业三天营业额近8.7万美金(约62万人民币)，三日售出近1.3万份产品，刷新奈雪 门店开业纪录。值得关注的是，随着美国首店的成功落地，奈雪海外拓展步伐明显加快。据奈雪海外业 务负责人透露，奈雪美国第二家门店已确定落户纽约长岛核心商业区，目前进入收尾阶段，预计近期开 业。此外，国庆长假，奈雪国内门店也引来消费热潮，全国门店店均订单量与营收同比实现双增长，多 地门店环比节前增长超700%。 ...

每经记者｜范芊芊 每经编辑｜董兴生 ｜ 2025年10月10日 星期五 ｜ NO.1 胖东来国庆8天卖了8.2亿元 10月9日，胖东来国庆8天总销售额出炉，集团合计销售8.2亿元。从各业态销售表现来看，超市依然是 主力选手，其销售额约4.04亿元；电器约1亿元，百货约9679万元，珠宝约9635万元。 点评：胖东来国庆期间斩获8.2亿元销售额，其中超市业态贡献近半，显示民生消费韧性。此业绩或提 振零售板块信心，印证节假日消费对实体商业的支撑作用。 NO.4 广州酒家：本年度自有品牌月饼累计销量1398万盒 10月9日，广州酒家公告称，公司本年度月饼销售工作已于2025年10月6日基本结束，自有品牌月饼累计 销量1398万盒，按农历日期同比增长1.75%。该数据为初步核算销售数据，仅作为阶段性经营情况供投 资者参考，具体的月饼系列产品财务数据情况，请关注公司后续发布的定期报告。 点评：广州酒家公布本年度月饼销量1398万盒，实现同比小幅增长，显示其核心业务保持稳定。这一销 售表现有望巩固市场对其品牌韧性和盈利能力的预期，为股价提供基本面支撑。 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此 ...