NHD(SZ:002946) Sou Hu Cai Jing·2025-10-03 02:03Core Insights - Mijue Ice City has acquired a 53% stake in Fresh Beer Fulu Family for approximately 297 million RMB, expanding its product offerings to include freshly brewed beer [1][5] - The investment aligns with Mijue's mission to provide high-quality and affordable products, catering to consumer demand [1] Company Overview - Fresh Beer Fulu Family offers freshly brewed beer priced between 6-10 RMB for 500mL and aims to achieve profitability in 2024 with a projected net profit of 1.071 million RMB [5] - As of August 2025, Fresh Beer Fulu Family has established 1,200 franchise stores across 28 provinces in China [5] Strategic Implications - The acquisition is seen as a significant move for Mijue Ice City to diversify its product range and leverage supply chain advantages in the fresh beer sector [5] - Mijue Ice City plans to enhance its domestic market presence, expand Lucky Coffee franchises, and continue growth in Southeast Asia [5] Financial Performance - As of June 30, 2025, Mijue Group operates over 53,000 stores globally, with 48,281 located in China [5] - In the first half of 2025, Mijue Group reported revenues of 14.87 billion RMB, a year-on-year increase of 39.3%, with product and equipment sales contributing 14.49 billion RMB [5] - The gross margin for product and equipment sales was 30.3%, while the margin for franchise and related services was significantly higher at 82.7% [5]