本文转自【厦门晚报】； "11斤的甘蔗，付完87元才反应过来，心疼得不行。"近日，一位绍兴市民在社交媒体上发布视频称，自己在百果园购买了一根甘蔗，结 算时被价格"刺"了一刀。 更让他郁闷的是，明明发票标榜"随心退"，事后退款却遭拒。这段视频发出后迅速发酵，引发市民热议。 现场明码标价 店员称"买之前讲过的" 2月12日下午，记者前往涉事门店了解情况。 在该店门口最显眼的位置，并排摆放着三捆甘蔗。记者观察到，右边是市民最熟悉的青皮甘蔗，粗壮扎实，按根售卖，18元一根。中间 是紫皮甘蔗，色泽深红，标价15元一根。 记者前往涉事门店了解情况。 而最左边那一捆，蔗皮呈淡金黄色，表皮光滑透亮，扎得整整齐齐，个头比青皮甘蔗更粗壮，在这一排甘蔗里最属显眼。 水果店门口正在售卖的不同种类甘蔗。 为核实商家是否存在未告知价格的情况，记者以消费者身份上前咨询。"可以买'黄金手撕甘蔗'，它最好吃好咬，果肉嫩，皮薄到可以手 撕。"店员拿起一根淡金黄色甘蔗向记者介绍起来，"售价是7.98元/斤，一根大概7到8斤，整根售价60元左右，部分粗壮的会到80元以 上。" "黄金手撕甘蔗"，售卖7.98元/斤。 记者注意到，与店内售卖的青皮、紫 ...

Core Insights - The fruit retail market is experiencing a surge in health-oriented fruit gift consumption as the Spring Festival approaches, with a notable trend towards younger and healthier choices [1][3] Group 1: Market Trends - The consumption of fruit gifts for the Spring Festival is becoming increasingly youthful and health-conscious, with data indicating a shift in consumer preferences [1] - The collaboration between Baiguoyuan and traditional artisans has led to the popularity of non-material cultural heritage fruit gift boxes, particularly among younger consumers [3] Group 2: Consumer Demographics - Among the consumers of the non-material cultural heritage gift boxes, 21% are under 30 years old, and 63% are under 40 years old, indicating a strong presence of young consumers in this market segment [3] - The top five cities for the sales of these gift boxes are Shenzhen, Zhengzhou, Jinhua, Guangzhou, and Chengdu, highlighting regional preferences [3] Group 3: Popular Products - The highest-selling fruit in the non-material cultural heritage gift boxes is the imported seedless green grape, followed by popular fruits such as honeydew melon, strawberries, and cherries [5] - Strawberries and cherries are consistently among the top-selling fruits in the gift boxes, with sales concentrated in cities like Shenzhen, Zhengzhou, Guangzhou, Jinhua, and Taiyuan [5] Group 4: Health Trends - The term "low GI" has gained traction in the fruit consumption market, reflecting a growing health consciousness among consumers [6] - Low GI fruits such as blueberries and strawberries have captured a significant market share, with cities like Shantou, Jiangmen, and Zhongshan leading in strawberry sales [6] Group 5: Regional Highlights - Nanjing's Lishui district has seen impressive sales of its signature strawberries, with nearly 2,300 tons sold and revenue reaching 75 million yuan during the recent sales period [8] - The strawberries from Nanjing Lishui have been distributed widely, reaching consumers in distant cities such as Leshan, Kunming, and Sanya [8]

Core Insights - The fruit industry is entering a new transformation phase driven by agricultural modernization and digital economy, with a market size expected to reach 3.5 trillion yuan by 2026 [1] - Key development themes include quality upgrade, efficiency innovation, and ecological collaboration, reshaping industry competition logic [1] Industry Competition - The core competitive dimensions in the fruit retail sector by 2026 will focus on three aspects: quality and safety, price sensitivity, and emotional value [2] - Consumers are increasingly prioritizing quality and safety, with a growing preference for eco-agricultural products [2] - Price sensitivity is rising, leading to a demand for both quality and affordability [2] - Emotional consumption is becoming a new growth engine, with consumers interested in the consumption experience and gifting scenarios [2] Channel Strategy - Despite channel diversification and fragmentation, community-based chain specialty stores remain the optimal model for fruit retail [4] - The model is supported by four key factors: professional knowledge, freshness assurance, real experience, and optimal logistics costs [5][6] Efficiency and Technology - The strategy of "delicious and affordable" will be driven by high-efficiency collaboration across the entire industry chain [7] - Key initiatives include improving production and sales coordination to enhance logistics efficiency and reduce costs [9] - Reducing losses in critical stages through scientific farming practices and post-harvest management is essential [10] - AI applications are being utilized in inventory management and precision farming to optimize operations and ensure quality [11] Long-term Strategy - The company's long-term approach focuses on building a collaborative system across the entire industry chain and deepening brand differentiation [13] - The goal is to create a robust brand presence in specific fruit categories over a long period, with nearly 60 brands established in the last decade [13] B2B and International Market - The B2B segment currently accounts for about 16% of sales and is experiencing rapid growth, with new channels increasingly sourcing fruits [15] - The international market is also expanding, with a rising demand for high-quality Chinese fruits in regions like Europe and Japan [15] Market Trends - The fruit industry is expected to trend towards both channel diversification and concentration among leading players in the next 3-5 years [17] - The company aims to maintain a dual strategy focusing on channel branding and product branding, emphasizing high quality and cost-effectiveness [17][18]

Core Insights - The community fresh food retail sector is a crucial consumer category for daily meals, characterized by high-frequency demand and stable repurchase rates, demonstrating resilience against economic cycles [1][4] - The market size of China's community fresh food retail industry is projected to reach 1,903.9 billion yuan by 2025, with a year-on-year growth of 11.2% [1][4] - The shift in consumer preferences towards convenience, freshness, and immediacy is driving the transition from traditional markets to community stores, front warehouses, and group buying [1][4] Overview - Community fresh food retail targets residents within 1-3 km, utilizing both offline stores and online channels to meet immediate consumption needs [2] - The retail format includes community fresh stores, front warehouses, community group buying, O2O integration stores, and non-chain family-run shops [2] Development History - The evolution of China's community fresh food retail can be divided into four stages: initial phase, exploratory growth, explosive expansion, and ecological transformation [4] - Since 2021, the industry has shifted focus from scale expansion to profitability, with a move towards composite business models integrating store, home delivery, and self-pickup [4] Current Development - The community fresh food retail sector is a key flow foundation for community commerce, with a significant shift towards near-field retail formats [4] - By 2025, online fresh product retail is expected to account for approximately 20.1% of the market, while offline chain and non-chain products will represent 38.3% and 41.6%, respectively [1][4] Competitive Landscape - The community fresh food retail market is highly fragmented, with a low concentration level; the CR5 in the chain sector is only 7.3% [10] - Major players include companies like Guangzhou Qian Dama Agricultural Products Co., Ltd. and Shenzhen Baiguoyuan Industrial Group, which focus on fresh product quality and consumer convenience [10][11] Future Trends - The integration of community, social interaction, and instant retail will enhance the consumer experience, transforming community stores into service hubs [12] - Supply chain optimization will become a competitive barrier, focusing on direct sourcing and improved cold chain logistics [13] - Digital technology will reshape operations and customer acquisition, moving from a traffic-driven approach to a relationship-driven model [14]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 深圳百果園實業（集團）股份有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 H | | | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02411 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,721,250 | RMB | | 1 RMB | | 2,000,721,250 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 2,000,721,250 | RMB | | 1 RMB | | 2,000,721,250 | 本月底法定/註冊股本總額： RMB 2 ...

Group 1 - The company announced a capital increase agreement where Tian Xiqiu and Lai Xianyang will each invest in 百果园商业管理 at a price of RMB 1.0 per share, contributing RMB 660,000 and RMB 300,000 respectively [1] - After the capital injection, Tian Xiqiu and Lai Xianyang will hold approximately 33.67% and 15.31% of 百果园商业管理, respectively, diluting the company's ownership from 100% to 51.02% [1] - 百果园商业管理 will continue to be a subsidiary of the company, and its financial performance will be consolidated into the company's financial statements [1] Group 2 - The company entered into Supplementary Agreement I, converting a total principal amount of RMB 180 million under Loan Agreement I into an interest-bearing loan, with a term until March 31, 2029, at an interest rate of 3.0% plus 20 basis points [1] - Under Loan Agreement II, the company conditionally agrees to provide a maximum loan amount of RMB 70 million to 百果园商业管理, with a term until March 31, 2029, also at an interest rate of 3.0% plus 20 basis points [1]

Major Events - Singularity Guofeng (01280) sold all shares of China Silver Ray (Hong Kong) Investment Holdings Limited at zero cost [1] - ZTE Corporation (00763) plans to invest 117 million yuan to subscribe to Jianxing Zhanlu Fund shares [1] - Cloud Factory (02512) subsidiary won the bid for the second phase of the artificial intelligence industry base project [1] - CSPC Pharmaceutical Group (01093) received drug registration approval for Chlorpheniramine Lactate Injection [1] - Derin Holdings (01709) reported a Bitcoin balance of 84.555 BTC as of January 31 [1] - Baiguoyuan Group (02411) diluted its stake in Baiguoyuan Commercial Management to 51.02%, with core management investing to enhance new business layout [1] Operating Performance - XPeng Motors-W (09868) delivered 20,011 new vehicles in January [1] - Ruipulan Jun (00666) issued a profit warning, expecting a net profit of approximately 630 million to 730 million yuan in 2025, turning from loss to profit [1] - China Merchants Jinling (00978) projected a total contract sales amount of approximately 32.308 billion yuan in 2025, a year-on-year decrease of 23.91% [1] - China National Building Material (03323) issued a profit warning, expecting a shareholder loss of approximately 2.3 billion to 4 billion yuan in 2025, turning from profit to loss [1]

Core Viewpoint - 百果园集团 has entered into a capital injection agreement, allowing key executives to invest in 百果园商业管理, thereby diluting 百果园集团's ownership but ensuring continued financial consolidation of 百果园商业管理's performance into the group's financial statements [1][3] Group 1: Capital Injection Agreement - The company has signed a capital injection agreement on February 2, 2026, where Mr. Tian Xiqiu and Mr. Lai Xianyong will each invest in 百果园商业管理 at a price of RMB 1.0 per share, contributing RMB 660,000 and RMB 300,000 respectively [1] - Following the capital injection, Mr. Tian and Mr. Lai will hold approximately 33.67% and 15.31% of 百果园商业管理, respectively, reducing 百果园集团's ownership from 100% to 51.02% [1] Group 2: Loan Agreements - The company, as a lender, has entered into a supplementary agreement to convert a loan of RMB 180 million to 百果园商业管理 into an interest-bearing loan, with a term ending on March 31, 2029, at an interest rate of 3.2% [2] - Additionally, the company has conditionally agreed to provide a loan of up to RMB 70 million to 百果园商业管理, also with a term ending on March 31, 2029, at the same interest rate [2] Group 3: Business Development and Management - The company recognizes that 百果园商业管理 requires additional resources for its business activities, including quality suppliers, franchisees, professional management, and funding [3] - Mr. Tian Xiqiu has extensive resources in the snack supply chain and is expected to support the future development of 百果园商业管理, while Mr. Lai Xianyong will oversee market expansion, supply chain optimization, and overall management of 百果园商业管理 [3] - The company has agreed to allow Mr. Tian and Mr. Lai to invest as shareholders in 百果园商业管理, sharing the risks and returns associated with the new business segments [3]

Core Viewpoint - 百果园集团 has entered into a capital increase agreement, allowing key executives to invest in 百果园商业管理, thereby diluting 百果园集团's ownership but enhancing operational support for new business initiatives [1][3] Group 1: Capital Increase Agreement - 百果园集团 announced a capital increase agreement on February 2, 2026, where executives Tian Xiqiu and Lai Xianyong will invest in 百果园商业管理 at a price of RMB 1.0 per share, contributing RMB 660,000 and RMB 300,000 respectively [1] - Following the capital injection, Tian Xiqiu and Lai Xianyong will hold approximately 33.67% and 15.31% of 百果园商业管理, reducing 百果园集团's ownership from 100% to 51.02% [1] Group 2: Loan Agreements - On the same day, 百果园集团, as the lender, entered into a supplementary agreement with 百果园商业管理, converting a loan of RMB 180 million into an interest-bearing loan with a term until March 31, 2029, at an interest rate of 3.2% [2] - Additionally, 百果园集团 conditionally agreed to provide a loan of up to RMB 70 million to 百果园商业管理, also with a term until March 31, 2029, at the same interest rate [2] Group 3: Business Development and Management - 百果园集团 recognized the need for additional resources for 百果园商业管理 to sustain its operations, including quality suppliers, franchisees, and professional management [3] - Executives Tian Xiqiu and Lai Xianyong bring valuable resources and experience in supply chain management and investor relations, which will support the future development of 百果园商业管理 [3] - Both executives expressed their willingness to oversee the development of the fruit and snack business, ensuring alignment with the management resources of 百果园商业管理 [3]

Core Viewpoint - The announcement details a capital injection agreement by Baiguoyuan Group, where two individuals will invest in the company, resulting in a dilution of the company's ownership stake in its subsidiary [1] Group 1: Capital Injection Agreement - Baiguoyuan Group has entered into a capital injection agreement on February 2, 2026, with Tian Xiqiu and Lai Xianyang agreeing to invest in Baiguoyuan Commercial Management at a price of RMB 1.0 per share [1] - Tian Xiqiu will contribute RMB 660,000 and Lai Xianyang will contribute RMB 300,000 in cash to the registered capital of Baiguoyuan Commercial Management [1] - After the completion of the capital injection, Tian Xiqiu and Lai Xianyang will hold approximately 33.67% and 15.31% of the equity in Baiguoyuan Commercial Management, respectively [1] Group 2: Ownership Structure - Following the capital injection, Baiguoyuan Group's ownership stake in Baiguoyuan Commercial Management will be diluted from 100% to 51.02% [1] - Baiguoyuan Commercial Management will continue to be a subsidiary of Baiguoyuan Group, and its financial performance will still be consolidated into the financial statements of the company [1]