冲上热搜，蜜雪冰城要卖啤酒了！跨界收购福鹿家，「雪王」将卖现打鲜啤

Core Viewpoint - On October 1, Mixue Group announced an investment agreement with Fulu Family (Zhengzhou) Enterprise Management Co., Ltd., acquiring a 53% stake in the company for a total investment of RMB 297 million, marking a strategic expansion into the fresh beer market [1][4][7]. Investment Details - Mixue Group will invest RMB 286 million to subscribe for new registered capital of RMB 6.9017 million, representing 51% of the expanded registered capital of Fulu Family [4]. - Additionally, Mixue Group will acquire a 2% stake from Zhao Jie for RMB 11.2 million, bringing the total investment to RMB 297 million [4]. - Following the completion of this investment and share transfer, Fulu Family will become a non-wholly-owned subsidiary of Mixue Group, with its financial performance consolidated into Mixue Group's results [4]. Market Expansion - The acquisition allows Mixue Group to diversify its product offerings from fresh fruit drinks, tea, ice cream, and coffee to include fresh beer [7]. - Fulu Family, established in 2021, operates approximately 1,200 stores providing fresh beer products, including classic and innovative fruit beers [5][7]. Financial Performance - For the first half of 2025, Mixue Group reported revenue of RMB 14.87 billion, a year-on-year increase of 39.3%, with a net profit of RMB 2.72 billion, reflecting a growth of 44.1% [7]. - The company has expanded its global store count to over 53,000, with a significant increase of 9,796 stores compared to the previous year [7]. Strategic Positioning - The acquisition of Fulu Family is seen as a critical step in enhancing Mixue Group's product matrix, particularly in the rapidly growing craft beer market, which is projected to reach RMB 100 billion by 2025, with a compound annual growth rate exceeding 30% [8]. - Mixue Group's multi-brand strategy is also showing results, with its coffee brand, Lucky Coffee, surpassing 7,000 signed stores domestically by July 2025 [8]. Market Reaction - On October 2, Mixue Group's stock closed at HKD 392 per share, reflecting a 0.93% increase, with a market capitalization of HKD 148.8 billion [9].