Coca-Cola(US:KO) 新浪财经·2026-02-15 09:23Core Viewpoint - Coca-Cola is facing significant challenges in both domestic and international markets, with zero growth in global sales for the first time in a decade and declining profits in key regions, particularly in the Asia-Pacific market [2][5][7]. Group 1: Sales Performance - Coca-Cola's global single-box sales remained flat in 2025, marking the first instance of zero growth in ten years [5][4]. - The Asia-Pacific region, including China, saw a 7% decline in revenue to $1.139 billion in Q4 2025, with operating profit dropping 36% [5][8]. - The company's revenue in China has shown a downward trend, decreasing from approximately 485.58 billion HKD in 2021 to around 467.25 billion HKD in 2024 [6]. Group 2: Pricing Strategy and Consumer Sentiment - The company has implemented price increases, with product prices rising by 4% in 2025, but this has not translated into increased sales volume [13][14]. - Consumer feedback on social media indicates dissatisfaction with the taste of Coca-Cola, with many claiming it has become less sweet and enjoyable [3][10]. - The shift in taste is attributed to the replacement of higher-quality sugars with cheaper alternatives, impacting brand reputation [10][13]. Group 3: Competitive Landscape - Local beverage companies like Dongpeng, Nongfu Spring, and Yuanqi Forest are gaining market share, with significant revenue growth reported [9]. - Dongpeng is expected to achieve a revenue of 20.76 billion to 21.12 billion CNY in 2025, while Nongfu Spring reported a 15.6% increase in revenue for the first half of 2025 [9]. Group 4: Management Changes - Coca-Cola's current COO, Brian Smith, is set to become the new CEO on March 31, 2026, after the tenure of current CEO James Quincey [14][15]. - Smith has extensive experience in various roles within the company, including leadership in the Greater China region, which may influence future strategies in that market [15][16].