农业农村部：培 育英德红茶等18 个茶叶品牌，推 动新式茶饮行业 健康发展_南方 +_南方plus 近日，农业农村 部在《对十四届 全国人大三次会 议第5837号建议 的答复摘要》 中，就品牌建设 特别点名英德红 茶，文中指出： 目前，已将226 个区域公用品牌 纳入培育计划， 包括英德红茶、 安化黑茶、来凤 藤茶等18个茶叶 品牌。 此次回复，是针 对代表提到的推 动新式茶饮行业 健康发展，农业 农村部将会同有 关部门，持续完 善茶产业行业制 近年来，农业农 村部高度重视农 业品牌建设，推 动建立农业品牌 目录体系，实施 农业品牌精品培 育计划，培育了 一批产业优势领 先、市场空间潜 力大、文化底蕴 深厚的农业精品 品牌。目前，已 将226个区域公 用品牌纳入培育 计划，包括英德 红茶、安化黑 茶、来凤藤茶等 18个茶叶品牌。 修订，进一步加 强质量安全监 管，积极发展订 单农业，加快联 合开展技术攻 关，培育更多农 业农村技能人 才，深入实施农 业精品品牌培 育。 下一步，农业农 村部将继续深入 实施农业品牌精 品培育计划，重 点在渠道对接、 媒体宣展、金融 服务、海外推广 等方面提供支 持，助力提高我 ...

农场负责人介绍，随着羽衣甘蓝类的新茶饮越来越火爆，国内知名的茶饮头部企业纷纷选择直接与农场对接合作。这些羽衣甘蓝早在一个多月 前就被客商全部抢先预定了。 市场的火爆为种植基地带来了新变化。这家农场采用一年多茬种植，年产量超过8000吨，力求全年不间断供应市场。 为了满足市场的新需求，羽衣甘蓝不仅要"种得多"还要"种得好"。当地加快提升羽衣甘蓝的机械化、标准化种植技术和管理水平，对无土栽 培、日光温室生产、冷链流通保鲜等多项技术进行统一标准规范，进一步提高种植品质和亩均综合效益。 在云南石屏，工人们在羽衣甘蓝的种植管理过程中还采用了数字农场智慧化系统，从土壤分析、生物肥和生物药剂精准供给等各环节都实现了 数据监管。 新式茶饮带动庞大产业链发展 央视网消息：2025年夏天，越来越多茶饮店的饮品单上出现了羽衣甘蓝、苦瓜等字样，茶饮市场掀起了绿色果蔬风。茶饮店跨界卖"菜"让一些 蔬菜身价倍增，成为"超级蔬菜"，为各地种植户带来了新的发展机遇。 这两天，在山东高密的羽衣甘蓝种植基地，2000亩羽衣甘蓝迎来采收旺季，采收工人从早到晚忙个不停。 走出国门 中国新式茶饮海外"圈粉" 近年来，中国茶饮品牌在海外市场迅速发展。尤 ...

Group 1 - The tea beverage market is experiencing a trend towards incorporating green vegetables like kale and bitter melon, leading to increased demand and higher prices for these vegetables, creating new opportunities for farmers [1][5][9] - In Shandong, a kale farm has seen a surge in labor demand, employing around 150-160 workers daily and paying over 20,000 yuan in wages [3][5] - The kale farm is adopting advanced agricultural techniques, including mechanization and standardized planting methods, to enhance quality and yield, aiming for an annual production of over 8,000 tons [11][9] Group 2 - The new tea beverage trend is driving the development of a comprehensive industrial chain, with significant growth in related sectors such as coffee and jam production [14][16] - A tea beverage brand reported a sales increase of approximately 30% to 50% in the first quarter, leading to full utilization of production lines and boosting the growth of upstream and downstream enterprises [16][18] - The tea beverage industry is creating numerous job opportunities, with one county attracting over 20 related enterprises and generating more than 4,000 jobs [22] Group 3 - Chinese tea brands are rapidly expanding in overseas markets, particularly in Southeast Asia, with significant increases in store numbers and consumer demand [21][23] - A Chinese tea brand in Indonesia sold over 4,000 cups on its opening day and has expanded to five stores within four months, indicating strong market acceptance [25][27] - The success of Chinese tea brands abroad is attributed to their understanding of local consumer preferences and efficient supply chain management [29][31] Group 4 - The tea beverage market is witnessing a health trend, with a 507% increase in searches for "fruit and vegetable juice" and a 210% increase in order volume [35][39] - The demand for beverages containing kale has surged, with a 44-fold increase in delivery volume, while drinks with bitter melon have seen an 11-fold increase [37][39] - Regional specialty drinks are gaining popularity nationwide, with significant increases in search volumes for unique local ingredients [39]

Core Viewpoint - The Chinese ready-to-drink tea market is experiencing remarkable growth, with HSBC highlighting Guming and Mixue as standout brands due to their scalability and competitiveness, with a more favorable outlook for Guming's growth potential [1][20]. Market Overview - The market size of China's ready-to-drink tea is projected to reach RMB 211.5 billion by the end of 2023, significantly surpassing the ready-to-drink coffee market at RMB 151.5 billion [3]. - The market is highly fragmented, with approximately 660,000 tea shops and 4,000 to 5,000 brands, resulting in a low survival rate [3]. Company Analysis Mixue - Mixue is positioned as a low-cost market leader, with some products priced as low as RMB 7 [7]. - It has over 46,000 stores in China and nearly 5,000 overseas, making it the largest fast-food chain by store count globally [7]. - Despite its strong market position, its current valuation reflects its advantages, leading to a neutral rating. The expected compound annual growth rate (CAGR) for net profit from 2024 to 2027 is 17.4%, with a price-to-earnings growth (PEG) ratio of approximately 1.67, indicating limited attractiveness [8][9]. Guming - Guming targets the mid-range market, focusing on fresh fruit tea, and has established a self-operated cold storage supply chain, creating a strong competitive barrier [10][15]. - It has a higher single-store profitability, with a payback period of 16 months, compared to Mixue's longer payback period [12][20]. - Guming's average annual gross merchandise volume (GMV) per store is RMB 2.4 million, significantly higher than Mixue's RMB 1.4 million [16]. - The average GMV per transaction for Guming is RMB 27.9, while Mixue's is RMB 11.6, reflecting their different market positioning [19]. - Guming's expected net profit CAGR from 2024 to 2027 is 24.4%, with a PEG ratio of approximately 1.03, suggesting better growth potential and investment value, leading to a "buy" rating [15]. Competitive Landscape - Both companies have ambitious expansion plans, with Mixue aiming for 100,000 stores in China and Guming targeting 30,000 to 40,000 stores [20]. - HSBC's end-game model indicates that Guming may have a higher net profit growth potential (34%) post-2027 compared to Mixue (26%) despite the difference in store numbers [20][21]. Investment Considerations - The report provides a clear analytical framework for investors, indicating that while Mixue wins in scale, its high valuation limits upside potential, whereas Guming shows superior growth potential and investment value through its product and supply chain strategies [20].

5月29日，茶咖日报的主要内容有： 新茶饮4月开店1857家 5月29日，据茶咖观察报道，今年4月份，其长期跟踪的26家新式茶饮连锁品牌共新开门店1857间，较3 月环比增长25.05%，但相较去年同期同比减少34.22%。现存门店总数达到112252间，较上月增加1569 家。 其中，有17个品牌4月开店量多于3月，除长期保持开店量第一的蜜雪冰城外，沪上阿姨单月开店190 家，位居第二位；爷爷不泡茶开出122家，位居第三。 即便品牌开店积极性较3月更高，与去年同期相比却不乐观。今年4月，仅有爷爷不泡茶、快乐番薯和茉 莉奶白较去年同期开店量大幅提升。多数品牌今年的开店政策较为谨慎，例如，喜茶、奈雪的茶、马伍 旺饮料产、茶话弄4月开店同比都减少了90%左右。 奈雪的茶：在东南亚第8家门店于清迈开业 近日，奈雪的茶方面透露，其在泰国清迈CENTRAL FESTIVAL店已正式开业。作为奈雪在东南亚市场 的第8家门店，清迈首店首月营收近350万泰铢（约77万人民币），高峰期单日出杯量超2000杯。 茶话弄温哥华首店位于Richmond帝国广场，整体依然沿用了茶话弄极具国风韵味的设计风格，产品也 与国内版本的菜单基本 ...

5月8日上午9点30分，港交所铜锣声响，沪上阿姨(02589.HK)以113.12港元的发行价正式在港交所主板 挂牌上市，成为新式茶饮赛道第六股，也是继蜜雪冰城、古茗之后，又一家成功登陆资本市场的以"下 沉市场"为核心战略的茶饮品牌。 上市首日，沪上阿姨开盘价为190.6港元，较发行价上涨68.49%，盘中股价最高涨至197.6港元/股，总市 值一度突破200亿港元。首日股价的狂热表现，既反映出市场对其商业模式和发展战略的认可，也折射 出投资者对新式茶饮赛道的乐观情绪。 近年来，随着我国经济的增长和人均可支配收入的增加，包括现制饮品在内的高品质消费品市场得到扩 张。据灼识咨询统计，中国现制饮品市场在过去五年保持快速增长，以GMV计算的市场规模由2018年 的人民币1878亿元增加至2023年的人民币5175亿元，复合年增长率为22.5%。在未来五年，市场规模预 计将以17.6%的复合年增长率进一步增长，到2028年时达到人民币11634亿元。 而得益于中国深厚的茶文化、茶的创新应用及多元消费场景，在中国现制饮品市场的各个细分市场中， 现制茶饮市场所占份额最大，2023达到50%，且现制茶饮店是目前中国现制茶饮 ...

从上海街头一家毫不起眼的小店，到携9000多家门店站上港交所舞台。12年时间，沪上阿姨（上海）实业股份有限公司（以下简称沪上阿姨）从新式茶饮赛 道中杀出了一条血路。 Hang Seng Index 2 589.1 i 188.0 : HKD ▲ 74.88 ( 4 66 BID 186.00 | ASK . 102.75 ( ▼ 0.45%) : 2589 . .. · . i . 在竞争白热化、品牌层出不穷的新式茶饮江湖，沪上阿姨凭什么突破重围？答案或许藏在两组关键数据里：年销6亿杯的惊人数字，是消费者用味蕾为其品 质投下的信任票；5000多家加盟商用真金白银的支持，以30%的二店率表达对品牌的信心。 正是这场品牌与消费者、加盟商之间的"双向奔赴"，让沪上阿姨以"毛细血管"式的扩张策略，将门店渗透至全国300多个城市，完成了从区域品牌到全国巨 头的华丽转身。 如今港股上市，沪上阿姨迎来全新起点。在下沉市场已占得先机的它，能否凭借这来之不易的信任基石，在资本助力下续写商业传奇？ 三大品牌满足消费者多样需求 一条拥挤的上海弄堂，一家无名奶茶店前排起的长龙——这个偶然的发现，彻底改变了单卫钧和周蓉蓉的人生轨迹。 ...

Group 1 - The new-style tea beverage industry is experiencing a listing boom, with six brands, including Hu Shang A Yi, successfully entering the capital market [1][3] - Hu Shang A Yi's stock price opened 68.49% higher on its first day, reaching HKD 190.6 per share, with a market capitalization of HKD 20 billion, and its public offering was oversubscribed by 3616.83 times, setting a record for new stock subscriptions in Hong Kong this year [1] - The company, founded in 2013, has expanded from "five-grain milk tea" to fresh fruit tea, with 9,176 stores across over 300 cities and a GMV of CNY 10.736 billion by the end of 2024 [1] Group 2 - The Chinese ready-to-drink tea market is projected to reach CNY 374.9 billion by 2025, with the 10-20 CNY price range experiencing the fastest growth [3] - 59.1% of consumers plan to maintain or increase their tea beverage consumption frequency, indicating a shift from "scale expansion" to "efficiency competition" in the industry [3] - The industry is facing intensified competition and slowing growth, with Hu Shang A Yi's revenue expected to decline slightly in 2024 and average single-store GMV decreasing [3][4] Group 3 - Analysts suggest that the new-style milk tea sector is entering a critical phase of consolidation and competition, with many leading companies accelerating their IPOs to strengthen their overall capabilities and financial resources [3][4] - Hu Shang A Yi primarily operates in northern China, where consumer spending power is relatively lower, posing challenges for sustainable development and future market performance [4] - Despite challenges, the new tea beverage industry is viewed as a high-potential sector, with listings like Hu Shang A Yi expected to drive industry integration and upgrades [4]

今年以来，新式茶饮品牌密集登陆资本市场。 继2月古茗、3月蜜雪集团赴港上市，4月霸王茶姬赴美上市之后，5月8日，港股市场迎来第5家上市茶饮品牌——沪上阿姨。加上此前已在美股上市的霸王 茶姬，新式茶饮品牌已有6家登陆资本市场。 尤其值得关注的是，在蜜雪冰城上市前，资本市场对新式茶饮品牌一直不太"感冒"，甚至还一度萦绕着"破发魔咒"。但随着蜜雪冰城在今年3月正式登陆 港股市场，整个新式茶饮的热度持续拉升，古茗和蜜雪冰城股价不断上涨。 而沪上阿姨仍在持续这一热度，截至证券时报记者发稿，沪上阿姨大涨超54%。 昨晚暗盘即大涨超60% 沪上阿姨的这一市场表现并不让人意外。在沪上阿姨上市前夜，其暗盘涨幅就已超过60%，富途牛牛还显示，其融资申购倍数达到3447.33倍，融资申购 额超过940亿港元。 而从沪上阿姨来看，其本身的质量也不错。招股书显示，近两年，沪上阿姨的门店快速扩张，由2022年底的5307家，快速增长至2024年底的9176家。根据 灼识咨询，截至2023年12月31日，沪上阿姨是覆盖最多中国城市的中国中价现制茶饮店品牌。 据介绍，沪上阿姨成立于2013年，当时沪上阿姨开设第一家门店售卖"五谷奶茶"——一 ...

今年以来，新式茶饮品牌密集登陆资本市场。 继2月古茗、3月蜜雪集团赴港上市，4月霸王茶姬赴美上市之后，5月8日，港股市场迎来第5家上市茶饮品牌——沪上阿姨。加上此前已在美股上市的霸王茶姬，新 式茶饮品牌已有6家登陆资本市场。 尤其值得关注的是，在蜜雪冰城上市前，资本市场对新式茶饮品牌一直不太"感冒"，甚至还一度萦绕着"破发魔咒"。但随着蜜雪冰城在今年3月正式登陆港股市场， 整个新式茶饮的热度持续拉升，古茗和蜜雪冰城股价不断上涨。 而沪上阿姨仍在持续这一热度，截至证券时报记者发稿，沪上阿姨大涨超54%。 昨晚暗盘即大涨超60% 沪上阿姨的这一市场表现并不让人意外。在沪上阿姨上市前夜，其暗盘涨幅就已超过60%，富途牛牛还显示，其融资申购倍数达到3447.33倍，融资申购额超过940 亿港元。 | 富途证券 | | | | | --- | --- | --- | --- | | | | | 495.45亿 | | 辉立证券 | | 192.00亿 | | | 信诚证券 | | | | | | 77.00亿 | | | | 老虎国际 | | | | | | 73.03亿 | | | | 耀才证券 | | | | | ...