“梭哈”酒店也困于酒店，谁在偷走两面针们的利润？

Core Viewpoint - Two sides of the needle are expanding production, focusing on hotel toothpaste and slippers, but despite maintaining a leading market share, profitability has significantly declined [1][11]. Group 1: Company Strategy and Performance - The company plans to invest 68.85 million yuan to expand its production base for functional oral care products, including toothpaste and hotel slippers [2]. - The current production capacity for hotel toothpaste is nearly at full capacity, with a utilization rate of 90.21% for the hotel toothpaste workshop, while the household toothpaste factory has a much lower utilization rate of 34.5% [4][5]. - The average selling price of hotel toothpaste has remained low, around 8 cents per unit, which has not changed significantly over the past decade [1][12]. Group 2: Market Position and Competition - Despite losing market share in the household toothpaste segment, the company remains a leader in the hotel channel, with hotel toothpaste sales increasing from 980 million units in 2015 to nearly 1.6 billion units in 2024 [8][9]. - The company faces intense competition as other brands, such as Yunnan Baiyao and Shuke, are also entering the hotel market, which may further pressure profit margins [27]. - The gross margin for hotel toothpaste is low, with the company lacking significant negotiation power against major hotel groups, leading to reduced profitability [11][15]. Group 3: Historical Context and Challenges - The company was once a dominant player in the household toothpaste market, achieving a market share of 16.3% in the early 2000s, but has since struggled to maintain its position [7][18]. - The shift towards diversification in various sectors has diluted focus on the core toothpaste business, contributing to declining performance in the competitive landscape [17]. - The household toothpaste sales have drastically decreased from 50.84 million units in 2015 to 32.59 million units in 2024, indicating a significant loss of market presence [19][22].