“王中王”的焦虑：光把肉做好，已经不够了

Core Viewpoint - The partnership between Shuanghui Development and Taoxiaopang represents a strategic shift for Shuanghui, moving from a traditional supply model to a more integrated approach that allows for earlier participation in defining consumer demand [3][11][22]. Group 1: Partnership Details - Shuanghui's wholly-owned subsidiary, Luohe Shuanghui Commercial Investment Co., Ltd., has formed a joint venture with Henan Taoxiaopang Commercial Management Co., Ltd. to establish Luohe Taoxiaopang Commercial Management Co., Ltd. [1] - The collaboration aims to deepen cooperation in commercial retail and product customization [1]. Group 2: Industry Context - Shuanghui has historically operated in the upper-middle reaches of the meat processing industry, focusing on large-scale production and stable supply, but has become less involved in direct sales decisions [3][4]. - The traditional retail channels are experiencing a decline, while new channels are seeing significant growth, indicating a shift in consumer demand patterns [4][5]. Group 3: Market Dynamics - In the first three quarters, Shuanghui's meat products in new channels reached 191,000 tons, a year-on-year increase of 25.8%, highlighting the importance of adapting to new retail environments [5]. - The management has acknowledged the need to respond more effectively to changes in retail channels, as traditional sales are not compensating for declines in established markets [4][7]. Group 4: Strategic Implications - The partnership with Taoxiaopang allows Shuanghui to engage more closely with consumer preferences and market signals, moving away from a purely supply-driven model [10][20]. - This collaboration is seen as a way to address the challenges posed by fragmented consumer demand and the need for faster market feedback [10][22]. Group 5: Future Outlook - The evolving landscape of the food supply chain suggests that roles within the industry are becoming less distinct, with upstream and downstream players needing to collaborate more closely [22][24]. - The joint venture is not just about expanding channels but is a strategic move to shorten the distance between production and consumer demand [11][20].