Group 1: AI Company Valuation - An AI company, Anthropic, is set to raise $5 billion in funding led by Iconiq Capital, which will increase its valuation to $170 billion, nearly tripling from $61.5 billion four months ago [1] Group 2: Government Investment Fund Guidelines - The National Development and Reform Commission is seeking public opinion on guidelines to prevent homogenization and the crowding-out effect on social capital in government investment funds [1][2] - The guidelines emphasize avoiding blind following in emerging industries and prohibit the establishment of duplicate funds in the same industry by the same government [3] Group 3: Starbucks China Interest - Starbucks reported third-quarter revenue of $9.46 billion, exceeding analyst expectations, and confirmed interest from over 20 potential investors in its China operations [4] Group 4: IPO Activities - Shenghong Technology plans to issue H-shares for listing on the Hong Kong Stock Exchange, leveraging its status as a supplier to Nvidia [4] - Hanhigh Group successfully listed on the Shenzhen Stock Exchange with an opening surge of over 200%, achieving a market value of 22 billion yuan [5] Group 5: Investment Funds and Collaborations - Dassault Systèmes collaborates with Kaihui Fund and Shanghai Jing'an Industrial Guidance Fund to establish a digital industrial fund [6][7] - Sichuan Hongwen Digital Culture Equity Investment Fund has successfully completed registration, marking its operational launch [8] Group 6: Corporate Financial Performance - Microsoft reported fourth-quarter revenue of $76.441 billion, a year-over-year increase of 18%, with net profit rising 24% to $27.233 billion [9] Group 7: Recent Financing Events - Yikole Biotechnology received a strategic investment of 450 million yuan from Guotou Ju Li [10] - Guangya Hongdao announced a strategic investment of 280 million yuan from Kunlun Beigong Green Venture Capital [11] - RoboScience completed nearly 200 million yuan in angel round financing, led by JD.com [12]

星巴克最近交出了一份很难看的成绩单：利润暴跌了5.58亿美元。但这背后，其实是CEO尼科尔在进行 一场主动的、代价高昂的"大翻修"。 星巴克的核心问题出在它的"金字招牌"上。 过去，星巴克之所以能卖得比别的咖啡贵，很大程度上是因为它卖的不只是一杯咖啡，更是一种"第三 空间"的体验——一个舒适、有格调、能让人放松或工作的地方。人们愿意为这种独特的氛围和服务多 付钱。 然而，这几年情况变了。 一方面，物价普遍上涨，消费者对价格更敏感了； 另一方面，星巴克面临的竞争前所未有的激烈，从精品咖啡馆到快餐店（麦当劳、Dunkin'）再到便利 店（7-11），都在争夺咖啡市场。 而且，星巴克自身的服务体验也出了问题：店里人手不足导致排队时间变长、咖啡品质不稳定、过度依 赖手机点单让店里少了人情味……结果就是，消费者越来越觉得星巴克咖啡"不值那个价"了，它的品牌 吸引力，或者说"溢价能力"正在持续下降，于是，人们就不再那么愿意为"星巴克体验"支付明显的额外 费用。 尼科尔深刻认识到，如果还像过去那样小修小补，或者只想着靠涨价维持利润，这条路是走不通的，只 会让问题越来越严重，最终可能导致星巴克失去灵魂，变成一个平庸的、慢慢衰 ...

每经记者｜丁舟洋 每经编辑｜金冥羽 张益铭 7月30日，星巴克发布2025财年第三季度财报。星巴克中国区第三季度营业收入、同店销售额取得同比增长，利润率环比持续增长。 星巴克第三财季净营收为94.56亿美元，上年同期为91.1亿美元，分析师预期为92.9亿美元；调整后每股收益为0.49美元，预估为0.65美元；中国同店销售 增长2%，分析师预期增长1.44%。星巴克美股盘后大涨4.56%。 在财报说明会上，星巴克董事长兼CEO倪睿安表示："在中国，我们近期所做的调整正在取得成效。截至第三季度末，我们实现了连续三个季度的收入增 长以及同店销售的同比增长。" "'真味无糖'饮品创新和新的客制化选项提高了顾客购买频次，非咖产品的价格调整不仅拓宽了顾客群，还提升了午间和晚间时段场景消费。" 他还主动回应了星巴克中国区将出售部分股权的市场传闻："正如大家所看到的，我们正在寻找拥有共同愿景和价值观的战略合作伙伴，把握中国市场未 来巨大的发展潜力和机遇。" "我们正在对超过20个有强烈意愿的机构进行评估。我们对中国市场的信心与承诺不变，并希望保留中国业务相当比例的股权。各方对与我们合作的强烈 意愿，证明了星巴克在中国拥有优 ...

星巴克公司董事长及首席执行官倪睿安表示，公司正在寻找拥有共同愿景和价值观的战略合作伙伴，正在对超过20个有强烈意愿的机构进行评估，公司希望 保留中国业务相当比例的股权。 面对中国市场激烈的竞争，今年星巴克对"非咖产品"进行了降价，也提升了午间和晚间场景消费。 早在去年11月，就有媒体报道星巴克正在考虑出售其中国业务的股权。今年6月，据知情人士透露，高瓴资本参与了星巴克中国区的反向管理层路演，目前 交易结构尚未敲定。星巴克中国业务估值约为50至60亿美元，该交易预计将持续到2026年。彼时，星巴克中国表示，坚信中国市场蕴藏的巨大增长机遇。公 司正在评估把握未来增长机遇的最佳方式。将继续专注于实现中国业务的重振增长，保持积极正向的发展趋势。 当地时间7月29日，星巴克（Nasdaq：SBUX）公布了截至2025年第三财季财务业绩。2025财年第三财季公司总收入为94.56亿美元，同比增长3.8%；归母净 利润为5.58亿美元，同比下滑47.1%。 对于近日市场上的一系列股权出售传闻，星巴克公司董事长及首席执行官倪睿安在本次财报发言中表示，公司正在寻找拥有共同愿景和价值观的战略合作伙 伴，正在对超过20个有强烈意愿 ...

此外，星巴克CEO在财报电话会议上谈及星巴克中国股权出售一事时表示，已有超过20家收购方对该项 资产表现出兴趣，公司希望保留"有分量的"股份。(格隆汇) 星巴克(SBUX.US)盘前涨4.4%，报97.05美元。消息面上，星巴克公布2025财年第三季度业绩称，期内 营收约95亿美元，高于市场预期的93亿美元，上年同期为91.1亿美元。 绩后，多家机构上调星巴克目标价。其中，派杰投资将其目标价从102美元上调至105美元；加拿大皇家 银行将目标价从100美元上调至110美元。 | SBUX 星巴克 | | | | --- | --- | --- | | 92.960 + -0.710 -0.76% | | 收盘价 07/29 16:00 美东 | | 97.050 + 4.090 +4.40% | | 盘前价 07/30 04:14 美东 | | 딸 ½ 24 华 § ○ 目 ♥ 節 | | ● 快捷交易 | | 最高价 94.390 | 开盘价 93.250 | 成交量 2092.36万 | | 最低价 91.775 | 昨收价 93.670 | 成交额 19.56亿 | | 平均价 93.494 | 市盈率 ...

新京报贝壳财经讯(记者阎侠)7月30日，星巴克发布2025财年第三季度财报，中国区第三季度营业收 入、同店销售额取得同比增长，利润率环比持续增长。截至第三季度末，星巴克在中国的门店数量达到 7828家，新开70家门店，新进入17个县级市场。 星巴克公司董事长及首席执行官倪睿安(Brian Niccol)表示："在中国，我们近期所做的调整正在取得成 效。截至第三季度末，我们实现了连续三个季度的收入增长以及同店销售的同比增长。'真味无糖'饮品 创新和新的客制化选项提高了顾客购买频次，非咖产品的价格调整不仅拓宽了顾客群，还提升了午间和 晚间时段场景消费。正如大家所看到的，我们正在寻找拥有共同愿景和价值观的战略合作伙伴，把握中 国市场未来巨大的发展潜力和机遇，我们正在对超过20个有强烈意愿的机构进行评估。我们对中国市场 的信心与承诺不变，并希望保留中国业务相当比例的股权。各方对与我们合作的强烈意愿，证明了星巴 克在中国拥有优秀的团队，强大的品牌和长期发展的机遇，表现了对我们的高度信任。" ...

Group 1 - Starbucks China reported a revenue increase of 8% year-on-year to $790 million for Q3 of FY2025, marking three consecutive quarters of growth [1] - Same-store sales grew by 2%, with both transaction volume and average ticket size showing quarter-on-quarter increases [1] - The growth in same-store sales was attributed to continuous product innovation, precise marketing, and strong performance from newly opened stores [1] Group 2 - As of the end of Q3, Starbucks China had a total of 7,828 stores, with 70 new stores opened during the quarter, entering 17 new county-level markets [1] - New stores maintained high profitability levels, contributing above-average same-store sales, which supports long-term growth [1] - Starbucks emphasizes its stores as a "third space," integrating deeply with local culture, and has opened stores in scenic areas to enhance brand differentiation [1] Group 3 - Starbucks has focused on core business and continuous innovation, providing added value through a third space, emotional value, and immersive experiences to meet consumer demands [2] - The introduction of the "True Taste No Sugar" innovation system has led to healthier choices and increased customer purchase frequency [2] - Starbucks has expanded its non-coffee offerings, creating a dual-scenario layout to cover consumer needs throughout the day [2] Group 4 - Collaborations with well-known brands have been a highlight for Starbucks, enhancing its market presence and creating emotional connections with consumers [2] - The partnership with the band Mayday and Disney's Zootopia has generated significant social media buzz and consumer engagement [2] - The company aims to evaluate over 20 strategic partnerships in China to leverage market opportunities while retaining a significant equity stake in its operations [3]

Core Viewpoint - Starbucks is experiencing a recovery in its performance in China, with a notable increase in store count and revenue, but it faces challenges in maintaining market share and adapting to a competitive landscape dominated by local brands like Luckin Coffee [3][10][31]. Financial Performance - For Q3 of fiscal year 2025, Starbucks reported net revenues of $790 million, an 8% increase from $733.8 million in the same quarter of the previous year [2]. - The number of stores in China reached 7,828, up by 522 stores compared to the same period last year, marking a 7% increase [2]. - Comparable store sales grew by 2%, with transaction volume increasing by 6%, although the average ticket price decreased by 4% [2][9]. Market Challenges - Starbucks' market share in China has significantly declined from 42% in 2017 to 14% in 2024, indicating a loss of competitive edge [10][31]. - Despite an increase in store count, revenue has not kept pace, with analysts noting that Starbucks stores contribute only 9% of total global revenue despite accounting for about 20% of total stores [3][10]. Strategic Considerations - There are ongoing discussions about potential buyers for Starbucks' China business, with various investment firms showing interest, although Starbucks has stated it is not considering a complete sale [3][13][16]. - The company is exploring strategic partnerships to enhance its operational efficiency in the local market, indicating a shift towards collaboration rather than solely relying on capital investment [16][29]. Competitive Landscape - The competitive environment has intensified, with local brands like Luckin Coffee and others rapidly expanding and innovating, leading to a price war that has affected Starbucks' pricing strategy [20][29]. - Starbucks has begun to lower prices on select products in response to competitive pressures, marking its first large-scale price reduction in over two decades [20][22]. Innovation and Product Development - Starbucks is focusing on product innovation and digital transformation to better align with consumer preferences, including faster product launch cycles and leveraging data analytics for consumer insights [27][29]. - The company has introduced new product lines and upgraded existing offerings to attract a broader customer base, although it still faces challenges in creating standout products compared to competitors [25][26].

公司CEO表示复兴计划"进展超前"，并将在2026年推出新品。为提振美国市场业务，公司正在进行门店 改革，包括缩短等候时间、更新菜单和重新装修。星巴克已将门店建设成本削减了30%。公司将在未来 一年为美国直营门店增加5亿美元的人力资源投入。 星巴克第三季度营收为95亿美元。同店销售额下降2%，跌幅高于预期。净利润为5.583亿美元，同比大 幅下滑。 调整后每股收益为50美分，不及分析师预期的65美分。中国市场同店销售额增长2%，是18个月来首次 实现增长。 （原标题：星巴克第三季度同店销售低于市场预期） ...

7月30日，星巴克发布2025财年第三季度财报，中国区第三季度营业收入、同店销售额取得同比增长， 利润率环比持续增长。 具体来看，本财季营业收入同比增长8%，至7.9亿美元，实现连续三个季度的同比增长；同店销售额同 比增长2%，同店交易量和同店客单价均取得环比提升；利润率环比持续增长，继续保持两位数的健康 水平。 截至第三季度末，全国门店数量达到7828家，新开70家门店，新进入17个县级市场。新店保持了高效的 盈利水平，两年内的新开门店持续贡献高于均值的同店销售。 星巴克公司董事长及首席执行官倪睿安(Brian Niccol)表示，"在中国，我们近期所做的调整正在取得成 效。'真味无糖'饮品创新和新的客制化选项提高了顾客购买频次，非咖产品的价格调整不仅拓宽了顾客 群，还提升了午间和晚间时段场景消费。我们正在寻找拥有共同愿景和价值观的战略合作伙伴，把握中 国市场未来巨大的发展潜力和机遇，正在对超过20个有强烈意愿的机构进行评估。我们对中国市场的信 心与承诺不变，并希望保留中国业务相当比例的股权。" 星巴克中国首席执行官刘文娟表示，"2025财年第三季度，我们在重振增长的轨道上稳健增长，财务指 标表现优异，关键 ...