Social Research* 喜茶品牌与营销深度解析 向 Social Research 提问 → DATAST■RY | ○ 数i只指数 喜茶品牌社媒表现深度解析报告 撰写机构：Social Research | 报告生成时间：2025-12-22 19:22:47 执行摘要 喜茶作为新式茶饮的代表品牌，以其"灵感之茶"的定位和多元化的产品线（包括芝士茶、果 茶、波波家族等）深受年轻消费者喜爱。近半年来，喜茶在各大社媒平台表现活跃，尤其在抖音 和种草平台上互动量显著。其社媒声量和互动量呈现出明显的季节性和活动驱动特征，例如8月 份受"喜茶 × CHIIKAWA 联名"活动影响，全平台声量和互动量均达到高峰。 消费者对喜茶的情感整体偏向积极，但对排队时间过长、产品价格等问题也存在一定负面反馈。 喜茶根据不同平台特性构建了差异化的内容矩阵：微博侧重品牌动态和促销信息，抖音侧重UGC 和病毒式传播,种草平台侧重产品种草和购物攻略,微信公众号则专注于深度内容和品牌价值传 递。 在达人营销方面，喜茶通过与优惠/促销类、生活/趣味内容创作者等不同类型达人合作，实现了 促销转化和品牌形象植入等多重目标。其中,"喜茶 ...

根据新思界产业研究中心发布的《2025年加纳茶叶行业市场现状及海外企业进入可行性研究报告》显 示，为了满足国内消费需求，近年来加纳每年仍会从海外进口较大规模的茶叶商品，中国则为其最主要 的进口来源地。具体来看，根据中国农业国际合作促进会统计的数据显示，在2024年，中国（内地）的 茶叶出口总量达到37.41万吨，出口总额达到141929.08万美元，主要出口到摩洛哥、加纳、马来西亚、 毛里塔尼亚、美国等地；其中，出口到加纳的茶叶数量达到3.86万吨，同比增长9.44%，占比约为 10.32%，金额达到15367.79万美元，同比增长8.44%，占比约为10.83%。 茶叶一般包括茶树的叶子和芽，由其制成的茶饮料，与可可、咖啡并称为"世界三大饮料"。根据加工工 艺和发酵程度的不同，茶叶可分为绿茶（不发酵茶）、白茶（微发酵茶）、黄茶（轻发酵茶）、青茶 （乌龙茶，半发酵茶）、红茶（全发酵茶）和黑茶（后发酵茶）这六大基本类别。 茶叶富含茶多酚、咖啡碱、氨基酸等活性成分，具有抗氧化、提神醒脑、辅助代谢、保护心血管、延缓 衰老等功能。近年来，随着大众对健康生活方式的愈发重视，天然、无添加的饮品需求增加，茶叶作为 一种健康 ...

Core Insights - Baima Tea Co., Ltd. has successfully listed on the Hong Kong Stock Exchange, raising approximately HKD 450 million with a market capitalization of HKD 72.25 billion as of the latest trading price of HKD 85 per share [2][3] - The journey to IPO has been challenging for Baima Tea, with multiple attempts to list on different exchanges since 2013, facing regulatory hurdles and market conditions that were not favorable for traditional tea companies [2][3][4] - The capital market shows a preference for new-style tea beverage companies over traditional leaf tea producers, indicating a broader trend in consumer preferences [3][5] Company Overview - Baima Tea is a national chain brand engaged in the research, design, standard output, and retail of various tea products, including Oolong, black, red, green, and white teas, as well as tea-related products [7] - The company claims to be the largest tea supplier in China by the number of chain stores and holds leading sales positions in several tea categories, including Tieguanyin [7][9] - The high-end tea market in China is growing, with a projected increase from RMB 890 billion in 2020 to RMB 1,353 billion by 2029, reflecting a compound annual growth rate (CAGR) of approximately 5.6% [7] Financial Performance - Baima Tea's revenue for 2022, 2023, and 2024 was RMB 18.18 billion, RMB 21.22 billion, and RMB 21.43 billion, respectively, with a noticeable slowdown in growth rates [12][20] - The company reported a decline in revenue of 4.2% in the first half of 2025, attributed to decreased sales in offline channels and increased administrative expenses [13] - The gross profit margin has shown an upward trend, with figures of 53.3%, 52.3%, 55.0%, and 55.3% over the reporting periods [16] Market Dynamics - The Chinese tea market is highly fragmented, with over 1.6 million companies involved in tea planting, production, and distribution, leading to a competitive landscape where the top five companies hold only about 5.6% market share [9][33] - Baima Tea's market share in the high-end tea segment increased from approximately 1.1% in 2020 to 1.7% in 2024, indicating a gradual improvement in its competitive position [9] - The offline sales channel remains dominant, accounting for over 70% of Baima Tea's total revenue, while online sales are growing but still represent a smaller portion of overall sales [36] Strategic Initiatives - The company has initiated a multi-brand strategy, launching sub-brands like "Xiaoma Tea Fun" and "Wanshan Red" to target younger consumers and diversify its product offerings [40][42][43] - Baima Tea has established a strong membership system, which is crucial for maintaining customer loyalty and driving sales in the high-end tea market [21] - The company is focusing on digital transformation and smart production to enhance operational efficiency and product innovation [21]

Core Insights - Nayuki Tea launched a pop-up store in Flushing, New York, generating significant consumer interest and long lines, indicating strong market engagement [1] - The store is strategically located in a high-traffic area with over 100,000 daily visitors and lower rental costs compared to Manhattan, contributing to its potential success [1] - The U.S. ready-to-drink tea market is growing at an annual rate of 9.1%, with substantial expansion opportunities, as no single brand holds more than 5% market share [1] Company Insights - Nayuki Tea is currently the only publicly listed company in the new-style tea beverage sector, but it remains one of the few brands experiencing ongoing losses [2] - In the first half of 2025, Nayuki reported revenue of 2.18 billion yuan, a year-on-year decline of 14.4%, with an adjusted net loss of 118 million yuan [2] - The company's international expansion is a key strategic focus as it seeks to transform its business model [2] Industry Insights - The U.S. tea beverage market is becoming increasingly competitive, with major players like Starbucks closely monitoring trends and ensuring supply chain stability [2] - The market is seeing a rise in the popularity of Asian-inspired ingredients, with black sugar milk tea sales increasing by 48.7% year-on-year [1] - Over 36% of tea shops are adopting a "tea + light food" model, indicating a trend towards product diversification within the tea beverage industry [1]

Group 1 - The core viewpoint of the articles indicates that Naixue, recognized as the first stock of China's new-style tea beverage industry, reported a revenue of 2.178 billion yuan for the first half of 2025, representing a 14.4% decline compared to the same period last year [1] - The adjusted net loss for Naixue was 118 million yuan, although this reflects a significant narrowing of 73.1% year-on-year, it remains the only loss-making brand among listed tea beverage companies [1] - Naixue's total revenue of 2.178 billion yuan for the first half of 2025 shows a double-digit decline compared to 2.544 billion yuan in the same period last year [1] Group 2 - Over the past three years, Naixue's store count has decreased from 2,800 to 1,321, a reduction of 1,479 stores [2] - All main business lines of Naixue are facing downward pressure, with revenue from direct-operated stores amounting to 1.912 billion yuan, accounting for 87.8% of total revenue, despite a year-on-year increase of 5.1 percentage points, the revenue amount decreased by 9% compared to the same period last year [2] - The bottled beverage business has shown particularly weak performance, generating only 107 million yuan in revenue, a decline of 37.8% from 172 million yuan in the same period last year, indicating significant challenges for this business line [2]

Core Insights - The company, COFCO Biochemical (Chengdu) Co., Ltd., has launched a beverage store named "Mojia Floating Flower" within its facility to collect real-time consumer data and feedback for product development [1][2] - The company has entered the flavoring sugar market, producing 60,000 tons annually, and has become a leading player in the new-style tea beverage market in China [1] - The company is actively testing new products, including ginger-flavored syrup and rose-flavored drinks, with plans to launch these products to the market by the end of September [2] Group 1 - The beverage store serves as a laboratory for the company to gather consumer feedback and sales data [1] - The company has identified a significant market opportunity in the flavoring sugar sector, leading to the establishment of a new production line [1] - The company’s beverage store sold over 600 cups on its opening day, indicating strong consumer interest [1] Group 2 - The company is developing a range of products, including a ginger latte made from its own syrup, which has quickly become a top seller [2] - The company is expanding its production capacity with a new project aimed at producing 150,000 tons of flavoring sugar, bringing total capacity to 270,000 tons [2] - An e-commerce platform is being prepared to allow individual consumers to purchase the company’s flavored syrups through major online retailers [2]

Core Viewpoint - Baima Tea, a high-end tea brand known for its Tieguanyin, is struggling to maintain its market position and has faced multiple failed IPO attempts over the past 12 years, raising questions about its viability in the capital market [3][4][6]. Group 1: IPO Journey - Baima Tea has made four attempts to go public since 2019, with its latest application submitted to the Hong Kong Stock Exchange after previous failures in various markets [4][5]. - The company has faced significant challenges in the capital market, with traditional tea companies generally receiving a cold reception from investors [6][8]. Group 2: Business Model Challenges - Over 50% of Baima Tea's products are produced through a private label model, raising concerns about the authenticity of its "ancient method" branding [9][15]. - The company relies heavily on franchise stores, which account for 93% of its retail outlets, leading to quality control issues and a slowdown in revenue growth [10][26]. - Baima Tea's revenue declined by 4.2% year-on-year, with net profit dropping by 17.8% as of mid-2025 [10]. Group 3: Market Position and Consumer Trends - The high-end positioning of Baima Tea is becoming problematic in a consumer environment marked by downgrading spending habits, particularly among middle-class consumers [11][48]. - Membership data shows a decline in average annual spending among Baima Tea's customers, indicating weakening purchasing power [49]. Group 4: Competition and Consumer Preferences - Baima Tea's traditional tea offerings are facing stiff competition from new-style tea brands that attract younger consumers, highlighting a disconnect with the target demographic [50][58]. - The company's attempts to innovate and appeal to younger consumers through new sub-brands have not yielded significant results, as these products lack differentiation in a saturated market [60][62]. Group 5: Strategic Recommendations - To regain market traction, Baima Tea should focus on improving franchise management and product quality control, ensuring alignment with brand values [39][38]. - A shift from a passive to an active approach in engaging younger consumers is necessary, moving beyond traditional marketing strategies to embrace innovative and experiential offerings [68].

Core Insights - The new-style tea drinks are revitalizing the beverage market in Singapore, gaining popularity due to their health benefits and lifestyle attributes [1][3] - Local brands are modernizing traditional tea culture, with a rise in herbal teas, fruit teas, and tea balls over the past year [1] - New tea brands are being introduced based on traditional Chinese medicine concepts, offering healthier and functional beverages compared to sweet bubble tea [1] Market Trends - A local entrepreneur has launched 22 functional tea drinks, such as a product combining reishi mushroom and ginseng to enhance immunity and relieve fatigue, appealing to younger consumers [1] - Some stores will introduce AI smart mirrors to diagnose customers' physical conditions and recommend suitable tea drinks [1] - New tea houses are promoting tea culture and mindfulness, with offerings like high-quality oolong tea and tea-infused desserts [3] Consumer Engagement - Tea houses are providing tasting packages to cultivate appreciation for the complexity of tea flavors among both tea enthusiasts and newcomers [3] - A tea brand focuses on caffeine-free herbal and freeze-dried fruit teas, emphasizing tea's role in promoting inner peace and health [3] - Despite increasing competition, sellers view the rising visibility of tea drinks as a positive sign for the market, indicating greater influence and diversity in the tea beverage sector [3]

Core Viewpoint - Tianye Co., Ltd. is embroiled in a financial fraud scandal involving inflated revenues, manipulated costs, and misrepresented asset values, leading to significant financial restatements and potential delisting risks [1][2][3] Financial Performance - In 2024, Tianye's total profit was revised down from 34.08 million to 14.21 million, a decrease of approximately 58.3%, while net profit attributable to shareholders fell by 66.2% from 28.59 million to 9.65 million [2] - Revenue increased slightly by 7.3% compared to 2023, but net profit saw a dramatic decline of 71.5%, marking the lowest point since 2012 [2] - The company's revenue from core juice products accounted for 74.3% and 90.9% of total revenue in 2023 and 2024, respectively, but faced significant price pressures and declining margins [4][5] Client Dependency and Market Challenges - Major clients in the new-style tea beverage sector, such as Nayuki Tea and Tea Baidao, accounted for 82.9% of procurement, contributing significantly to revenue [2] - The competitive landscape has intensified, with major clients experiencing substantial losses, leading to reduced orders from Tianye [3][4] - The average price of mango juice dropped from 10,200 CNY/ton to 8,800 CNY/ton, while unit costs increased by 2%, resulting in a significant decline in gross margins [4][5] Governance and Investment Issues - Tianye established a private equity fund with Fangfu Venture Capital, but the fund's investment progress has raised concerns, with no direct project investments reported [6][7] - The fund's intended investment projects have been delayed, and there are questions regarding the legitimacy of certain transactions, including a questionable acquisition of shares in an unrelated biotech company [8][9] - Tianye has urged Fangfu to fulfill its capital contribution obligations by August 31, 2025, or risk exiting the fund [9]

Core Insights - Guangxi Hengzhou is renowned for its jasmine flower production, contributing over 80% of China's total jasmine flower output and more than 60% of the world's supply, earning it the title "Hometown of Chinese Jasmine" [2] - The local jasmine industry has created a diverse "1+9" industrial cluster, including flower tea, potted plants, food, tourism, and more, benefiting around 340,000 flower farmers [8] - The introduction of digital platforms and automated production lines has significantly improved efficiency in jasmine tea production, increasing flower fragrance utilization from below 50% to over 80% [12] Industry Development - The jasmine flower industry in Hengzhou has a rich historical background, with jasmine tea becoming a popular beverage since the Ming and Qing dynasties [12] - Recent years have seen a rise in new-style tea drinks, with local suppliers providing raw materials to over 70 new enterprises, contributing approximately 32% of revenue from new tea drink products in 2024 [15] - The establishment of over 170 flower tea enterprises in Hengzhou has fostered local economic growth and stability for farmers, allowing them to remain in their communities [8][6]