-投资动态- 玛士撒拉完成超亿元B+轮融资 近日，玛士撒拉（上海）生物科技有限公司宣布完成超亿元B+轮融资，由产业投资方百联商投和百联挚高联合领投，老股东弘晖基金、弘盛资本继续追 加投资。本轮融资募集资金将主要用于加强核心产品的持续研发投入、临床试验推进，持续巩固公司在"临床+消费"双场景中的领先优势。 玛士撒拉是一家专注于医学营养的创新型企业。当前，公司已形成百余款医学营养SKUs，拥有6张特医批件及FDA注册资质，满足从临床治疗到慢病管 理、日常健康干预的多元化人群需求。（投资界） 小编评： 玛士撒拉深耕行业十余年，此次赢得资金支持将进一步赋能品牌加速线下渠道布局，让临床级营养产品走出医院，并最终促使其成为医学营养领域的领导 者。 知名鱼子酱公司鲟龙科技被指拟赴港上市 近日，巴菲特旗下伯克希尔哈撒韦公司披露，已对卡夫亨氏公司持股计提38亿美元（税后，折合人民币约274亿元）减值损失。 提交给监管机构的文件显示，6月底伯克希尔哈撒韦将其所持卡夫亨氏股份的账面价值降至84亿美元。此前，伯克希尔的代表已于5月从卡夫亨氏董事会辞 职，限制了伯克希尔现在能够获取的关于卡夫亨氏的信息。卡夫亨氏目前正在计划拆分。（华尔 ...

29 July 2025 US Consumer US Consumer Tracker (2Q25): Inflation up, real income down, tariffs test consumers in H2 Zhihan Ma, CFA +1 917 344 8303 zhihan.ma@bernsteinsg.com Alexia Howard +1 917 344 8453 alexia.howard@bernsteinsg.com Aneesha Sherman +1 917 344 8457 aneesha.sherman@bernsteinsg.com Danilo Gargiulo +1 917 344 8475 danilo.gargiulo@bernsteinsg.com Nadine Sarwat, CFA +44 207 676 6849 nadine.sarwat@bernsteinsg.com Jessica Tian +1 917 344 8413 jessica.tian@bernsteinsg.com Hazel Wang +1 917 344 8346 ha ...

美国对中国商品加征高达245%的关税政策，犹如一记重拳打在依赖中国供应链的零售企业身上。就在这个紧要关头，一些精明的商家想出了"曲线救国"的 妙招。 据《金融时报》23日报道，不少美国商家把货物先囤在加拿大仓库，静待关税风波平息。 对于这种情况，美国商家直言是在赌特朗普对华关税认怂。这个大胆的策略在网上引发热议，网友纷纷点赞，称这是明智之举！ 在复杂多变的国际贸易局势下，美国对中国商品征收的高额关税，如同一块巨石重重地压在了众多美国零售商的肩头，为了寻求破局之法，零售商们开始各 显神通，其中最受青睐的方案就是把货物暂存加拿大仓库。 这个办法突然走红，主要是因为加拿大有三个杀手锏，免税仓库、税收减免政策，以及四年内出口可退关税的优惠。 最近从中国运往加拿大的货柜量直接暴涨50%，虽然每个集装箱运费贵了五六百美元，但比起美国的天价关税，这点成本根本不算啥，这波操作说白了就是 商家在和关税政策"打时间差"，先把货囤在邻国加拿大，等着看美国会不会降低关税。 之前商家还考虑过用美国的保税仓库，但如今贸易战打得火热，美国仓库早被抢空了，相比之下，加拿大仓库不仅随时有位置，还能享受自由贸易区的关税 豁免，货物存四年内转口美 ...

这场看似普通选品风波的背后，不仅有着山姆商业策略的摇摆和阵痛，更是反映着如今中国中产消费心理与国货身份焦虑的激烈碰撞。 目前，在山姆小程序搜索"好丽友"，已无法找到引发争议的低糖好丽友派。同样消失的还有卫龙高纤牛肝菌魔芋等争议商品。 商品下架截图图源网络 2024财年，山姆会员店净销售额为844亿美元，约占公司总收入的13%。截至2024年1月31日，山姆会员店在全球共运营超过600家门店。亮眼数据背后是 激进的扩张策略。按照计划，2025年山姆将在中国开出8家店，创下历年来年度开店数量新高。截至2025年5月，山姆在中国已开出55家门店。 残酷的市场竞争下，原本大力扩张的山姆也积极求变。不过，山姆在自己的核心竞争点——会员制及其相关选品策略方面，显然变道失误了。 号称"为菁英生活提供高品质商品"的山姆，这一次倒在了自己曾经的优势上。 成也会员，败也会员 塌房前，山姆在中国正经历前所未有的上升扩张期。 靠会员制发家的高端仓储式超市山姆，用一块好丽友派惹怒了自己的会员消费者们。 2024年山姆在中国的营业额突破1000亿元，占沃尔玛中国业绩近三分之二。沃尔玛2026财年一季度（2025年2月1日至2025年4月 ...

Core Insights - The 2025 Fortune Global 500 list was released, with China having 130 companies, maintaining its position as the second-largest contributor globally, and the average profit of these companies increased by 7.4% [2][3] - The total revenue of the companies on the list reached approximately $41.7 trillion, accounting for over one-third of the global GDP, with both total assets and net assets at an all-time high [2][3] - Employment numbers among the listed companies decreased compared to the previous year [2] Group 1: Company Rankings - Walmart retained its position as the largest company globally for the twelfth consecutive year, followed by Amazon in second place [3] - Three Chinese companies made it to the top ten: State Grid at third, and PetroChina and Sinopec at fifth and sixth, respectively [3] - The number of U.S. companies on the list decreased by one to 138, while Japan had 38 companies, down by two from last year [3] Group 2: Chinese Companies Performance - Although the total number of Chinese companies decreased by three compared to last year, the quality improved significantly, with an average profit of $4.2 billion, marking a historical high [3] - BYD entered the global top 100 for the first time, ranking 91st, a jump of 52 places from the previous year [3] - Other notable Chinese companies that improved their rankings include Luxshare Precision (up 65 places to 423), Tencent (up 25), Huawei (up 20), and Midea (up 31), while Country Garden returned to the list at 460th [3] Group 3: Guangdong Region Highlights - The Greater Bay Area had 23 companies on the list, with Guangdong contributing 18, an increase of one from last year, covering sectors such as automotive, electronics, home appliances, and finance [4] - Shenzhen had 9 companies, Guangzhou 6, Foshan 2, Dongguan 1, and Hong Kong 5 [4] - Guangzhou Pharmaceutical Group ranked 459th overall and was the only Chinese company in the pharmaceutical sector to be listed, ranking 14th in its industry category [4]

Core Insights - The 2025 Fortune Global 500 list reveals that the total revenue of the listed companies for 2024 is approximately $41.7 trillion, representing a year-on-year growth of about 1.8%, exceeding one-third of the global GDP [1] - The total net profit of these companies has increased by approximately 0.4% year-on-year, amounting to around $2.98 trillion [1] - Walmart continues to lead as the largest company globally with revenues of approximately $681 billion, marking its twelfth consecutive year at the top [1] Company Rankings - JD.com ranks 44th, up 3 places from last year, maintaining its position as the highest-ranked private company from mainland China [2] - Alibaba's ranking improved by 7 places to 63rd, while Tencent rose 25 places to 116th [2] - Pinduoduo saw the most significant increase, climbing 176 places to 266th, and Meituan moved up 57 places to 327th [2] Profitability Insights - Saudi Aramco remains the most profitable company globally with a profit of approximately $105 billion, despite a year-on-year decline of about 13% [2] - Alphabet, the parent company of Google, ranks second in profitability with a net profit of $100.1 billion, surpassing Apple, which ranks third with $93.7 billion [2] - Berkshire Hathaway and Microsoft follow, with profits of over $88.9 billion and $88.1 billion, respectively [2] - Nvidia's profit surged by approximately 145% to around $72.9 billion, marking its first entry into the top ten profitability rankings [2] - The Industrial and Commercial Bank of China ranks as the highest Chinese company in net profit, exceeding $50.8 billion and placing 10th globally [2]

以下文章来源于窄播 ，作者窄播 窄播 . 关注消费、互联网、AI，聚焦公司、产业、案例，提供信息、趋势、洞察。 来源丨 窄播（ID：exact-interaction） 作者丨肖超 图源丨Midjourney 山姆正在遭遇一场舆论风波。 近期，由于商品调整的结果与消费者的预期有异，山姆正在社交媒体上被部分用户声讨。 一方面，是山姆上架了一批以好丽友、溜溜梅、卫龙等为代表的传统国民级品牌食品，被消费者质疑 差异性不足，有损中产定位；另一方面，山姆下架了一批在消费者视角下的高复购产品，如低糖蛋黄 酥、杨枝甘露、太阳饼，也引起了诸多不满。 过去几年，以其雄厚的商品力、贴合国内消费需求的运营方式，山姆享受到了在中国市场厚积多年后 的薄发时刻。 据山姆官方，中国已有8家山姆门店单店年销售额突破5亿美元（约合人民币36.7亿元），2024年山 姆中国整体销售额突破1000亿元。在山姆的强势带动下，自2023年起，沃尔玛常居中国连锁经营协 会发布的《中国连锁百强榜单》首位。 山姆这次之所以遭遇舆论危机，核心不在于山姆的商品力是否真的在消费者视角下有所下滑——它再 下滑，山姆在国内零售界的供应链底蕴依然无人能及——而在于，面 ...

Core Viewpoint - The ongoing controversy surrounding Sam's Club's product selection, particularly regarding the "Hao Li You" and "Liu Liu Mei" brands, has raised consumer concerns about product quality and supplier changes, leading to a perception of quality degradation [1][19][28]. Group 1: Supplier Changes - Sam's Club has changed suppliers for several products, including Member's Mark coconut water and various snacks, leading to consumer scrutiny over quality and ingredient changes [3][5][22]. - The transition from imported products to domestic suppliers is evident, with products like the Chilean dried plums shifting from overseas production to local manufacturing [23][24]. - The rapid succession of supplier changes across multiple product categories has raised questions about the stability and quality of the supply chain [26][27]. Group 2: Consumer Perception - Consumers have expressed dissatisfaction with the perceived decline in product quality following supplier changes, associating these changes with a loss of value in their membership experience [28][32]. - The lack of transparency regarding supplier changes has contributed to negative consumer sentiment, as members feel their trust in the brand is being undermined [31][36]. - The introduction of well-known brands like "Hao Li You" and "Liu Liu Mei" has led to disappointment among members who expected unique and differentiated products [28][29]. Group 3: Supply Chain Strategy - Sam's Club is pursuing a dual strategy of localizing its supply chain while optimizing and replacing suppliers within the domestic market [24][26]. - The shift towards domestic suppliers is driven by the need to reduce costs and improve supply chain responsiveness, especially in light of rising import costs and logistical challenges [24][26]. - The company's focus on maintaining a balance between cost, quality, and scale is critical to sustaining its membership model, which relies heavily on consumer trust [33][37].

Core Viewpoint - Sam's Club is facing a public relations crisis due to a mismatch between product adjustments and consumer expectations, highlighting the importance of communication with its expanding member base [2][4]. Group 1: Current Situation - Sam's Club has recently been criticized on social media for introducing traditional domestic brands while removing high-repurchase products, leading to dissatisfaction among consumers [2][3]. - The company has experienced significant growth in China, with eight stores achieving annual sales exceeding $500 million and plans to surpass $100 billion in overall sales by 2024 [3]. - Membership numbers have surged from approximately 2 million in 2019 to an expected 9 million by mid-2025, indicating a rapid expansion of its consumer base [3]. Group 2: Consumer Communication - Trust is essential for the membership model, and Sam's Club has failed to adequately inform members about product removals and new offerings, which has contributed to the current crisis [5][6]. - There is a need for Sam's Club to educate consumers about its product offerings, emphasizing that it is not solely about imported goods but about quality products [7][9]. Group 3: Product Strategy - The removal of popular products, such as the low-sugar egg yolk pastry, has led to consumer disappointment, especially when these items were previously marketed as best-sellers [14][16]. - Sam's Club's strict product removal standards focus on maintaining a unique value proposition for members, but this can lead to consumer frustration if not communicated effectively [16]. Group 4: Recommendations - The company should adopt better communication strategies, similar to those used by Trader Joe's, which includes detailed product introductions and consumer engagement through various channels [10][11]. - Providing reasons for product removals and ensuring transparency in product changes can help rebuild trust and manage consumer expectations [12][16].

Group 1 - The total revenue of the companies on the Fortune Global 500 list is approximately $41.7 trillion, which is over one-third of the global GDP, representing a growth of about 1.8% compared to last year [1] - The minimum sales revenue required to be listed increased from $32.1 billion to $32.2 billion [1] - The total net profit of the listed companies grew by approximately 0.4% year-on-year to about $2.98 trillion [1] Group 2 - In the food and beverage sector, the list of companies remains unchanged, but many did not continue the significant ranking improvements seen last year [3] - PepsiCo and Coca-Cola are exceptions, showing resilience in a challenging environment [3] Group 3 - In the "Food: Consumer Products" sub-list, the companies listed are Nestlé, PepsiCo, and Mondelez International, with PepsiCo being the only company to see an increase in ranking and growth in both revenue and profit [5] - Nestlé's revenue increased by 0.2% to $103.7495 billion, while its profit decreased by 0.9% to $12.361 billion [6] - PepsiCo's revenue grew by 0.4% to $91.854 billion, and profit increased by 5.6% to $9.578 billion [9] Group 4 - Mondelez International's ranking dropped by 14 places to 436, with revenue growth of 1.2% to $36.441 billion, but profit decreased by 7% to $4.611 billion [9] - Mars, Inc. is not listed but has a significant revenue of $54.6 billion, which would place it at 267th if it were included [11] Group 5 - In the "Beverages" sub-list, Coca-Cola had the highest revenue growth of 2.9% to $47.061 billion [13] - Anheuser-Busch InBev and Fomento Económico Mexicano maintained stable revenue and rankings, while Heineken's revenue decreased by 1.8% [15] Group 6 - In the "Food: Food Service" sub-list, Compass Group improved its ranking by 28 places to 370, with a revenue increase of 10.5% to $42.002 billion [17] - Starbucks' ranking fell by 23 places to 441, with a slight revenue increase of 0.6% to $36.176 billion [17] Group 7 - In the "Food Production" sub-list, ADM remains at the top despite a drop of 26 places to 143, with revenue of $85.530 billion [22] - JBS and Wilmar International follow, with JBS rising 9 places to 167 [23] Group 8 - China Resources ranked 67th with a revenue of $129.624 billion, up 5 places [26] - COFCO Group ranked 133rd with a revenue of $88.26 billion, down 27 places [28] Group 9 - Walmart remains the largest company globally for the twelfth consecutive year, with a revenue increase of 5.1% to $680.985 billion and a profit increase of 25.3% to $19.436 billion [30] - Saudi Aramco leads in profit with approximately $105 billion, despite a year-on-year decline of about 13% [32] Group 10 - A total of 130 Chinese companies made the list, with 49 improving their rankings and 68 declining [34] - Pinduoduo saw the most significant ranking increase among Chinese companies, rising 176 places to 266 [34]