蒙牛冰淇淋：产品升级、营销破圈、增收又增利

Core Viewpoint - Mengniu Dairy's ice cream business has achieved positive revenue growth in the first half of 2025, driven by healthy inventory levels, effective marketing strategies, and strong sales of new products [1] Group 1: Financial Performance - In the first half of 2025, Mengniu's ice cream revenue showed a counter-cyclical growth despite challenging industry competition and weakened offline sales capabilities [1] - The sales proportion of new products increased by 2.7 percentage points year-on-year, with nine new products achieving sales exceeding ten million [1] Group 2: Product Development - Mengniu launched 20 new ice cream products in the first half of 2025, focusing on health, premium quality, and personalization, effectively addressing consumer demands for quality and experience [2] - Notable new products such as "随变转," "随变MINI," "绿色心情双皮奶," and "绿色心情黑芝麻" exceeded sales expectations [1] Group 3: Channel Strategy - The company has strengthened its four major channels: traditional, modern, special, and new retail channels, with significant improvements in sales and market presence [2] - The fresh e-commerce sales grew over 40%, and the instant retail segment saw explosive growth in customer transaction values [2] Group 4: Future Plans - In the second half of 2025, Mengniu plans to enhance marketing capabilities through targeted strategies, channel restructuring, and efficiency upgrades [3] - The company aims to implement a "one city, one policy" approach to create city-specific marketing strategies and establish urban accounting units [3]