GYBYS(SH:600332) Nan Fang Du Shi Bao·2025-11-28 11:36Group 1 - The core point of the article is that Guangzhou Pharmaceutical's Wanglaoji has obtained distribution rights for Thai Tsingtao's taurine Red Bull in five provinces in China, indicating a strategic move to expand its market presence in the competitive functional beverage sector [1][2]. - Wanglaoji has confirmed the partnership with Thai Tsingtao but denied any specific sales targets, which were reported to be 80,000 boxes per month by late 2025 and over 500 million by 2026 [2][3]. - The collaboration is seen as a potential boost for Thai Tsingtao's Red Bull, suggesting a shift in the competitive landscape against Huabin's Red Bull, which has dominated the market for years [4]. Group 2 - The ongoing trademark dispute between Thai Tsingtao and Huabin has been a significant issue since 1998, with legal battles over trademark rights and competition intensifying in recent years [4][5]. - Thai Tsingtao has invested approximately 4.36 billion yuan in expanding its production capacity in China over the past five years, indicating a strong commitment to increasing its market share [6]. - The competitive dynamics are shifting, with Wanglaoji's entry into the market potentially increasing pressure on Huabin, which has been diversifying its brand portfolio to maintain growth [6].