Key Events - Chinese President Xi Jinping will conduct state visits to Vietnam, Malaysia, and Cambodia from April 14 to 18 [8] - The EU has decided to postpone its countermeasures against US tariffs for 90 days, seeking a "completely balanced" trade agreement [11] - The Federal Reserve officials will collectively speak, with the market closely watching Chairman Powell's remarks [9] - The European and Canadian central banks will announce their interest rate decisions [4] - The global first "Human-Robot Half Marathon" will take place [16] - Bawang Tea will be listed on NASDAQ on April 17 [29] - Xiaomi's AI smart glasses are expected to be released on April 17 [29] Economic Data - China will release a series of key economic data, including Q1 GDP, March foreign trade, retail, investment, unemployment rate, and industrial value-added data [6] - Experts predict that Q1 GDP growth will be around 5.2% to 5.3%, supported by industrial production and consumption recovery, while real estate investment remains a drag [6][7] Earnings Reports - Key earnings reports to watch include Goldman Sachs, TSMC, Hermès, LVMH, and Cambricon [1]

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 为维护新国脉数字文化股份有限公司（以下简称"公司"或"国脉文化"）全体股东利益，公司及公司控股 股东中国电信集团有限公司（以下简称"电信集团"）基于对公司未来发展前景的信心及价值的认可，采 取措施积极实施"提质增效重回报"行动。现将有关情况公告如下： 一、控股股东自愿承诺不减持公司股份 二、切实落实"提质增效重回报"行动方案 为深入贯彻党的二十大和中央金融工作会议精神，落实国务院《关于进一步提高上市公司质量的意见》 要求，积极响应上海证券交易所《关于开展沪市公司"提质增效重回报"专项行动的倡议》，公司制定 了"提质增效重回报"行动方案，并于2025年2月28日发布公告，具体内容详见《关于"提质增效重回 报"行动方案的公告》（公告编号：2025-001）。后续，公司将努力提升盈利能力，持续提高上市公司 质量，逐年提升现金分红比例，切实增强投资者回报。 三、其他说明 截至本公告披露日，电信集团直接持有公司股份407,061,147 ...

以下文章来源于财经天下WEEKLY ，作者财经天下 财经天下WEEKLY . 《财经天下》周刊官方账号，提供有品质的深度报道，讲述中国企业在时代浪潮中的精彩故事。 霸王茶姬如此赚钱的秘诀， 就藏在招股书里。 文 ｜ 阳一 编辑 ｜ 吴跃 来源｜ 财经天下WEEKLY（ID：cjtxweekly） 封面来源 ｜ 霸王茶姬官网 奶茶界最会赚钱的公司要赴美上市了。不久前，霸王茶姬向纳斯达克递交了招股书。截至去年年底，霸王茶姬的门店总数已飙升至6440家，实现了124.06亿 元的总收入，单家门店月均能卖出2.5万杯奶茶，净利润也达到了25.15亿元，净利率甚至超过了蜜雪冰城。它如此赚钱的秘诀就藏在招股书里。 为什么这么能赚钱？ 很多人对霸王茶姬的了解，始于2023年：这一年，凭借大单品"伯牙绝弦"，霸王茶姬异军突起，迅速在各大社交媒体上卷起了声量，它的门店总数也在这一 年突飞猛进。 2022年底，霸王茶姬的门店只有1087家，2023年就达到了3511家，一年新增门店2424家。2024年底，门店数量再度飞速增长到了6440家，年内新增的门店 总数达到了2929家。 随着门店数量的增加，霸王茶姬的GMV增速如同坐上 ...

Group 1 - The article discusses the emerging trend of "nanoship," a short-term, commitment-free relationship popularized by Tinder, highlighting a shift in how young people engage in romantic interactions [4][6] - The concept of "Public Display of Affection" (PDA) is also explored, indicating that young people are seeking comfort through physical interactions to alleviate stress [6] Group 2 - LOEWE collaborated with Hello Bike to launch a limited edition bike, creating a unique urban treasure hunt that blends brand culture with everyday life, amidst discussions of luxury brands adapting to market changes [7][10] - The article notes that luxury brands are increasingly engaging with lower-tier markets, as seen with Chanel planning to open a store in a lower-tier city while simultaneously raising prices [10] Group 3 - Louis Vuitton announced its entry into the beauty market with the launch of La Beauté, featuring 55 lipsticks, 10 lip balms, and 8 eyeshadows, set to debut in 2025 [19][20] - This move is part of LV's broader strategy to expand its product categories and appeal to a wider consumer base [22] Group 4 - The article highlights the successful IPO of Mixue Ice Cream, which has surpassed Starbucks with over 46,000 stores globally, achieving a market capitalization exceeding 100 billion HKD on its listing day [29][30] - The new tea brand, Bawang Tea Princess, is preparing for its IPO in the US, indicating the growing investment interest in the new tea beverage sector [30] Group 5 - Huawei's marketing strategy includes using the daughter of its founder, Yao Anna, as a brand ambassador, which generates significant media attention and discussion [33][35] - The article also mentions Prada's swift decision to terminate its contract with actor Kim Soo-hyun due to emerging scandals, reflecting the challenges luxury brands face in managing their public image [36][38] Group 6 - The upcoming Osaka World Expo will feature a Women's Pavilion, emphasizing female contributions to global progress and equality, aligning with the growing focus on women's empowerment in marketing narratives [48][49] - Various brands are adapting their messaging to celebrate women's achievements, as seen in campaigns by Arc'teryx and Tmall [49][51] Group 7 - The world's first 3D-printed train station, located in Japan, showcases innovative construction techniques that significantly reduce build time while assessing the durability of such structures in coastal environments [57][58]

北京时间 3 月 26 日凌晨，霸王茶姬向美国证券交易委员会（SEC）公开招股书，计划在纳斯达克上 市。股票代码定为 CHA，即 "茶" 的拼音。这家后起的新茶饮明星公司，第一次清楚告诉市场自己的 策略、历程。 2022 年到 2024 年，霸王茶姬门店 GMV 分别上涨 734.3% 和 172.9%，去年卖出 295 亿元茶饮，平均 每家店每月卖出 2.5 万杯。销量超过门店数高于自己的古茗、沪上阿姨和茶百道。 蜜雪冰城 古著 茶百道 霸王茶姬 GMV (亿元) 2022 2021 2023 2024 500 400 300 200 100 0 张俊杰眼里，茶叶可以是咖啡豆，奶茶可以是咖啡。 文 丨 徐煜萌 制图 丨 黄帧昕 备注:GMV 为门店卖出的商品金额,但是折扣前金额,会高于门店实际销售额。GMV 仅 在招股书披露。 资料来源： 招股书、财报 晚点 LatePost 制图 不同品牌的利润变化 古著 茶百道 霸王茶姬 蜜雪冰城 2022 2023 2024 2021 利润（亿元） 40 30 左右滑动查看 它还有着头部茶饮公司里目前看来最强的盈利能力、最低的闭店率。靠轻资产运营模式，霸王茶姬去 年的 ...

Mergers and Acquisitions - Quantum Song Group announced a merger investment cooperation with Letsvan, marking a significant entry into the trendy toy market and setting a record for financing in China's trendy toy industry in 2025 [3] - Letsvan will become a wholly-owned subsidiary of Quantum Song, with its financial data included in the group's consolidated financial statements [3] Financing Activities - Xidian Tea completed a Series A financing round of 30 million yuan, led by Guan Feng Yong Yue, aimed at expanding its smart production base and upgrading its international raw material traceability system [4][5] - Huiyi Technology, an internet home decoration service platform, raised several million yuan in Series A financing, which will be used for product iteration and market expansion [6] Company Intelligence - BaWang Tea Ji submitted an IPO application to the SEC, reporting a GMV of 29.5 billion yuan for 2024, a 173% increase year-on-year, with a net profit of 2.515 billion yuan, up 213.3% [7] - Shubao International, focusing on disposable hygiene products, went public with a share price of 0.51 HKD, raising approximately 86 million HKD [8] Market Trends - Cocoa prices have surged due to adverse weather and supply shortages, with Brazil aiming to establish the world's largest cocoa farm, expecting production to reach 300,000 tons by the end of the year [17] - The price of kale has increased from 0.8 yuan to 3.5 yuan per jin due to its popularity among tea brands, although experts warn about the nutritional claims of related products [22] Brand Developments - Lanvin clarified that its recent store closures in China are part of a strategic adjustment and that it will continue to invest in the Chinese market [11] - The second-hand market for luxury watches, including Rolex, has seen significant price drops, with some models losing nearly half their value [20]

在新茶饮赛道经历三年冷遇后，茶百道于2024年成功上市，此后古茗、蜜雪冰城接连登陆港股市场，蜜雪冰城甚至 成为港股冻资王，打破新茶饮品牌上市首日破发"魔咒"。 而霸王茶姬此次选择闯荡美股，不仅将成为新茶饮品牌在资本市场的另一标志事件，或也将成为霸王茶姬这一东方 消费品牌走向全球的开端之一。 01 作者 | 远禾 数据支持 | 勾股大数 据（www.gogudata.com） 资本市场终于等到了霸王茶姬。 3月26日凌晨，霸王茶姬公开递交IPO招股书，计划在美国纳斯达克上市，股票代码为CHA，也即是"茶"的拼音。 去年以来，新茶饮在资本市场颇受关注。 高质扩张： 激烈市场竞争下的发展奇迹 过去几年间，霸王茶姬飞速发展。 根据招股书数据，2022至2024年间，霸王茶姬营收规模分别为4.92亿元、46.40亿元和124.06亿元，几乎每年登上 一个新台阶，三年间增长了超24倍。 | | | | | For the Year Ended December 31, | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 2022 | | 2023 | ...

Core Viewpoint - The article highlights the rapid growth and ambitious expansion plans of the tea beverage brand "霸王茶姬" (Ba Wang Cha Ji), which is preparing for an IPO in the U.S. and has shown impressive financial metrics and marketing strategies, despite facing challenges in same-store sales growth [4][5][6]. Financial Performance - In 2024, Ba Wang Cha Ji's GMV (Gross Merchandise Volume) is projected to reach 29.5 billion yuan, a 173% increase year-over-year. The number of global stores is expected to grow to 6,440, an 83% increase from the previous year. Revenue is forecasted at 12.405 billion yuan, up 167.4%, with a net profit of 2.515 billion yuan, reflecting a 213.3% increase [5][6]. - The brand's average monthly GMV per store is 512,000 yuan, significantly higher than its competitors [5]. Product Strategy - Ba Wang Cha Ji has successfully created the "Tea Latte" category, with 91% of its domestic GMV coming from this product line. Approximately 61% of this GMV is generated from its top three best-selling items [8]. - The brand maintains a highly focused product strategy, with only 10 new products and 3 upgrades in 2024, compared to competitors like Luckin Coffee and Starbucks, which introduced significantly more SKUs [9]. Marketing Strategy - The marketing expenditure for Ba Wang Cha Ji has surged, reaching 1.1 billion yuan in 2024, which is a substantial increase from previous years. This represents 8.9% of its net revenue for that year [10][12]. - The brand has achieved high visibility through aggressive marketing campaigns, including extensive elevator advertising and a strong presence on social media platforms [11][12]. Market Challenges - Despite high growth rates, Ba Wang Cha Ji faces challenges with declining same-store GMV growth, which fell to 1.5% in Q3 2024 and -18.4% in Q4 2024 [15]. - The concentration of stores in southern and eastern China has led to a saturation effect, impacting sales growth in these regions [15][16]. Expansion Plans - Ba Wang Cha Ji is focusing on international expansion, with plans to enhance its presence in Southeast Asia and the U.S. The brand has opened 148 stores in Malaysia and is set to launch its first U.S. store in Los Angeles [17]. - The company aims to use part of the funds raised from its IPO for technology investments, new product development, and expanding its store network both domestically and internationally [16][17].

霸王茶姬提交招股书：去年净利25亿，今年要增开千店，探索美国机会 霸王茶姬赴美上市迎来新进展，有望成为美股"中国茶饮第一股"。 3月26日凌晨，现制茶饮品牌"霸王茶姬"主体茶姬控股向美国证券交易委员会（SEC）公开提交招股书，股票代码定为CHA，即"茶"的拼音。花 旗、摩根士丹利、中金和德意志银行担任承销商。 2017年霸王茶姬由张俊杰在云南创立，灵感来自20世纪70年代以来的国际咖啡连锁店。在霸王茶姬的B+轮融资中，于2023年7月和12月向投资者 发行了总计2037.4577万股B+轮优先股，总对价为人民币3.3亿元。若此次赴美上市成功，霸王茶姬将成为中国茶饮美股第一股。 霸王茶姬创始人、茶姬控股董事会主席、首席执行官张俊杰现年30岁，为茶姬控股大股东，持有A类普通股19.9%，持有B类普通股38.7%；现年 49岁的尹登峰担任董事、首席运营官，持股7.1%。XVC持股20.3%；琮碧秋实持股10.6%。 | | | | | For the Year Ended December 31, | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | ...

Core Insights - The article discusses the competitive landscape of the new tea beverage industry, focusing on two major players: Mixue Ice City and霸王茶姬 (BaWang Tea Princess) [10] - It highlights the recent IPO of Mixue Ice City in Hong Kong and the upcoming IPO of BaWang Tea Princess in the US, indicating a significant shift in the global market for tea beverages [7][10] Mixue Ice City - Mixue Ice City debuted on the Hong Kong stock market at a price of 202.5 HKD per share, with a first-day market capitalization exceeding 98 billion HKD, making it the largest IPO in Hong Kong's history [3] - The company operates 46,479 stores globally, with over 57% located in lower-tier cities, capitalizing on the consumption potential of these markets [4] - Mixue's revenue model heavily relies on supplying raw materials and equipment to franchisees, with a gross margin of 31.2% and a net margin of 18.7%, significantly outperforming competitors like Nayuki Tea [4] - The company has invested in building a robust supply chain, with five production bases and 34 warehouses, achieving a logistics coverage of 12 hours and a low waste rate of 0.3% [5] - Mixue plans to use 66% of its IPO proceeds for supply chain upgrades to support its global expansion strategy [5] BaWang Tea Princess - BaWang Tea Princess filed for an IPO in the US, aiming to become the first Chinese tea beverage brand listed on the Nasdaq under the ticker "CHA" [7] - The company reported a GMV of 29.5 billion CNY in 2024, a 173% year-on-year increase, with a net profit of 2.515 billion CNY and a net margin of 20.3% [7][8] - BaWang focuses on high-end markets, with 6,440 stores, primarily in tier-one cities, and a monthly average GMV per store of 512,000 CNY [8] - The brand's flagship product, "Bo Ya Jue Xuan," has sold over 600 million cups, contributing significantly to its market presence [8] - BaWang aims to expand globally, planning to open 1,000 to 1,500 new stores in 2025, with its first North American store in Los Angeles [9] Industry Dynamics - The competition between Mixue Ice City and BaWang Tea Princess illustrates a differentiated market strategy, with Mixue focusing on affordability and franchise expansion, while BaWang targets premium positioning and cultural branding [10] - The evolution of competition in the tea beverage industry is shifting from price wars to supply chain capabilities, with both companies investing heavily in their supply chain management [11] - The global tea beverage market is projected to grow significantly, with a compound annual growth rate of 7.2% from 2023 to 2028, driven by increasing consumer demand for health-oriented beverages [13] - The Chinese new tea beverage market is expected to exceed 200 billion CNY by 2025, reflecting its growing popularity as a lifestyle choice [14]