“雪王”整顿鲜啤？蜜雪冰城近3亿买下“鲜啤福鹿家”

Core Viewpoint - The acquisition of 53% stake in Xianpifulu by Mixue Ice City for approximately 297 million RMB reflects the company's strategy to expand into the fresh beer market, aligning with its "high quality and affordable" business philosophy [1][6]. Group 1: Transaction Details - Mixue Ice City acquired 51% of Xianpifulu's equity by subscribing to its new registered capital of approximately 68.9 million RMB and an additional 2% stake from a former shareholder for 11.2 million RMB [1][5]. - Following the transaction, Xianpifulu will become a non-wholly owned subsidiary of Mixue Ice City, with its financial data included in the group's consolidated financial statements [1][6]. - The largest shareholder of Xianpifulu, Tian Haixia, reduced her stake from over 60% to 29.43% post-transaction, while Mixue Ice City holds 53% [5][6]. Group 2: Company Background - Xianpifulu, established in 2021, is the first brand in China to receive national certification for "fresh beer" and has become the leading brand in terms of the number of fresh beer chain stores, with around 1,200 locations across 28 provinces and cities by August 31, 2025 [1][4]. - The brand primarily operates through a franchise model, generating revenue from sales of materials and equipment to franchisees [1][4]. Group 3: Financial Performance - Xianpifulu reported a net loss of 1.527 million RMB in 2023 but turned a profit in 2024 with a net profit of 1.07 million RMB [4][5]. - The financial turnaround indicates potential for growth and profitability in the fresh beer segment [4][5]. Group 4: Strategic Implications - The investment allows Mixue Ice City to diversify its product offerings in response to the evolving consumer demand for high-quality beverages, as the beer industry shifts from quantity to quality [6][7]. - Xianpifulu's franchise model and asset-light operation align closely with Mixue Ice City's expansion strategy, providing a solid foundation for integration and operational synergy [7].