SANYUAN(SH:600429) 第一财经·2026-01-16 09:23Core Viewpoint - The launch of "Sanyuan Beijing Yogurt," the first yogurt in China to receive both "clean label" and "natural ingredients" certifications, represents a significant step in Sanyuan Food's comprehensive renewal strategy [1][3]. Product Innovation - The new yogurt series includes four flavors: "Natural Original," "Papaya Pineapple Passion Fruit," "Lime Grapefruit," and "Strawberry Raspberry Fig," all made with natural ingredients and free from synthetic and genetically modified components [5]. - Sanyuan Beijing Yogurt aims to meet the health-conscious trends in food consumption by presenting a simplified and natural ingredient list, emphasizing the brand's commitment to consumer trust and sovereignty [3][6]. Market Positioning - The product is positioned to disrupt the yogurt market, showcasing Sanyuan's determination to drive long-term growth through high-quality offerings [3]. - The yogurt's design reflects a shift from the previous trend of adding various functional ingredients to a focus on natural, healthy, and nutritious attributes, utilizing 100% proprietary milk sources and high-quality fermentation strains [6][9]. Consumer Trends - A survey indicates that over 68% of consumers frequently check food ingredient lists, with simple and understandable ingredients being the second most important factor influencing purchase decisions [7]. - The yogurt's "clean label" certification addresses consumer demand for transparency and health, providing both physiological health benefits and psychological satisfaction regarding purity and control [7]. Competitive Landscape - The introduction of Sanyuan Beijing Yogurt is seen as an upgrade in competitive dimensions within the food sector, as simpler products often require higher implementation standards in terms of raw materials, processes, and flavors [9]. - The combination of "natural ingredients" and "clean label" creates a new model that builds consumer trust through authoritative endorsements, establishing a higher barrier to entry in the yogurt market [9]. Strategic Focus - Sanyuan Food, as a local state-owned enterprise, has a strong foundation in dairy supply and has established advanced digital farming systems across its 29 modern dairy farms [11]. - The company has undergone a strategic restructuring to focus on its core strengths and enhance brand assets, as evidenced by the successful launch of "Beijing Fresh Milk" in September 2025 [11][14]. - The new yogurt product is expected to complement "Beijing Fresh Milk" in various consumption scenarios, enhancing Sanyuan's market share in the low-temperature dairy segment in Beijing and North China [14].