“雪王”，要跨界卖啤酒了？

Core Viewpoint - The company, Mixue Group, is acquiring a 53% stake in the fresh beer brand "Xianpi Fulu Jia" for a total investment of approximately 296.8 million RMB, marking a strategic expansion into the fresh beer market [1][2]. Investment Details - Mixue Group will invest 285.6 million RMB to subscribe to new registered capital of 6.90174 million RMB, representing 51% of the expanded registered capital [1]. - The company will also acquire an additional 2% stake from Zhao Jie for 11.2 million RMB [1]. - The investment will be funded through internal resources and will not involve proceeds from the company's global offering [1]. Shareholding Structure - Post-investment, Mixue Group will hold 53% of the shares in the target company, while the controlling shareholder, Tian Haixia, will hold 29.43% [3]. - The shareholding structure before and after the investment shows a significant increase in Mixue Group's ownership [3]. Financial Performance - The target company reported a pre-tax loss of 1.5277 million RMB for 2023 but is projected to turn a profit of 1.0709 million RMB in 2024 [4][5]. - As of August 31, 2025, the target company's total assets and net assets are estimated to be approximately 92.7 million RMB and 19.52 million RMB, respectively [4]. Market Position and Strategy - Mixue Group is a leading player in the low-priced beverage market, with a strong competitive edge, offering products priced around 6 RMB [5]. - The fresh beer brand aims to provide high-quality, affordable fresh beer, with a network of approximately 1,200 stores by August 31, 2025 [6]. - The investment is seen as a strategic move to tap into the growing fresh beer market, which is characterized by a shift from quantity to quality in the beer industry [7]. Industry Trends - The fresh beer market is in its early stages but is expected to grow due to consumer preferences for fresh flavors and quality [7]. - The new business models and product categories in the beer industry indicate a long-term growth potential for fresh beer products [7]. Future Outlook - Mixue Group plans to penetrate existing markets and explore Southeast Asia while investing in capacity building and innovation [8]. - The company aims to enhance its brand presence through diverse content offerings, including animations and films [8].