商业世界的故事、逻辑、认知。由"和讯商业"团队出品。 以下文章来源于和讯商业 ，作者孟圆 和讯商业 . 螳螂捕蝉，黄雀在后，零食行业的后来者不只一位，量贩渠道的力量正在不断渗透。 随着市场竞争 加剧，行业逻辑也正在被改写。 截至4月24日收盘，洽洽食品（002557.SZ）报价23.99元，日跌7.37%，盘中一度逼近跌停，已触 及近三年最低水平。这主要是受一季度业绩超预期下滑影响。 面对近期股价接连下跌，洽洽食品此前在投资者互动平台表示，公司正在实施回购股份计划。 2024年，洽洽食品还算交出一份稳定的答卷，营收净利润双增长，业绩稍有回暖，但同时公布的 2025年一季报却再遭滑铁卢，营收下降超13%，净利润下滑近七成。另一端，竞争对手三只松鼠 （300783.SZ）则高歌猛进，以106.22亿元的营收和49.3%的增速，重回百亿营收高位。 从年报来看，三只松鼠显得从容许多。 2024年，三只松鼠结束营收连续四年的下滑状态，以106.22 亿元的营收创历史新高，同比增速达49.3% ；实现归母净利润 4.08 亿元，增长85.51%；归母扣非 净利润3.19亿元，同比大增214.3%，其增长动力主要来自抖音等 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000417 证券简称：合百集团 公告编号：2025-11 √适用 □不适用 是否以公积金转增股本 □是 √否 公司经本次董事会审议通过的利润分配预案为：以2024年12月31日的总股本779,884,200股为基数，向全 体股东每10股派发现金红利1.1元（含税），送红股0股（含税），不以公积金转增股本。 一、重要提示 本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投资者 应当到证监会指定媒体仔细阅读年度报告全文。 所有董事均已出席了审议本报告的董事会会议。 非标准审计意见提示 □适用 √不适用 董事会审议的报告期利润分配预案或公积金转增股本预案 董事会决议通过的本报告期优先股利润分配预案 □适用 √不适用 二、公司基本情况 1、公司简介 ■ 2、报告期主要业务或产品简介 （一）公司主要业务、经营模式 1.主要业务 公司目前的主营业务为零售业、农产品交易市场两大类主业。公司零售业包括百货、家电、超市连锁、 电子商务、商贸批发等细分业态。公司百货、家电、超市三业态共有252家实体经营门店，均占据安徽 省多个城市的 ...

第一部分 2024年消费市场的趋势 "扩内需、提振消费"是2024年消费市场的主基调。相较于2023年，尽管社会消费品零售总额增速放缓， 但总体规模依然保持稳健增长。国家统计局数据显示，2024年社会消费品零售总额为48.79万亿元，同 比增长3.5%。 从具体消费品类来看，中国消费市场呈现出多样化和创新的特点，不仅反映了消费者需求的多元化，也 揭示了产业升级和科技发展的深刻影响。《中国消费市场绿色低碳趋势调查报告（2024-2025）》从消 费场景、消费需求、宏观背景等维度，调研并总结出2024年消费市场三大趋势。 1、服务型消费主导增长 从细分种类的零售额来看，服务零售额以6.2%的增速形成新引擎，较商品零售高3个百分点。旅游交通 量（铁路同比增长10.8%，民航同比增长17.9%）、数字服务（通讯信息同比双位数增长）构建增长双 支柱，消费重心从实物向体验迁移。 这一趋势可以归结为以下三个主要原因： 第一，政策红利释放服务供给潜力。政府通过放宽市场准入、优化服务标准等政策，推动旅游、教育、 医疗等服务领域的供给升级。例如，文旅融合项目、智慧景区建设刺激出游需求，全年铁路/民航客流 增幅超两位数，印证了服务 ...

Core Viewpoint - The company, Diya Co., is navigating challenges in the jewelry industry while leveraging its unique brand positioning and global expansion strategies to maintain resilience and growth amidst market fluctuations and increased tariffs [1][9]. Industry Overview - The Chinese jewelry market is projected to reach approximately 778.8 billion yuan in 2024, showing a slight decline from 2023 but still reflecting a strong consumer base and potential demand [2]. - The jewelry industry is facing challenges due to global economic volatility, with gold gaining popularity as a safe-haven asset, while the diamond sector has experienced a downturn [2]. Company Strategy - Diya Co. is actively exploring new markets and channels, particularly in Europe and the U.S., to counteract the impacts of tariffs and market competition [2][9]. - The company emphasizes a differentiated brand identity centered around the theme of love, utilizing new media platforms for brand promotion and channel upgrades [2][4]. Brand Differentiation - The DR brand is a core asset for the company, known for its unique value proposition of "one ring for one person," which reinforces the commitment to love [3][6]. - The company invests in technology, including decentralized blockchain encryption, to ensure the uniqueness and security of customer identities, enhancing the luxury aspect of its products [3][4]. Financial Health - As of Q3 2024, the company holds over 5.1 billion yuan in monetary assets and maintains a low debt ratio of less than 12%, positioning it favorably within the industry [5]. - The company has consistently provided stable dividends since its IPO in 2021, which is significant for long-term investors [5]. Brand Story and Consumer Engagement - The DR brand was founded on a personal love story, aiming to create meaningful engagement through its products, which are designed to symbolize lifelong commitments [6][7]. - The brand has garnered a following of over 30 million fans who resonate with its message of true love, including endorsements from various celebrities [8]. Global Expansion and Future Vision - The company is committed to a multi-brand, omnichannel, and global development strategy, aiming to position DR as a leading symbol of love worldwide [9][10]. - The long-term vision includes establishing DR as the premier wedding ring brand globally, while also tapping into the domestic market's potential in lower-tier cities [9][10].

编译：linlin, haina 海外独角兽原创编译 转载请注明 2. Customer Support是世界最大 SaaS 市场之一： Salesforce 从 Service Cloud （即工单系统）获得的 83 亿美元收入甚至超过了从 Sales Cloud 或 CRM 获得 的 75 亿美元收入。世界上最大的 SaaS 公司从其支持系统获得的收入最多，，这正是Pylon决定进入的领域。 3. B2B 沟通方式正在全渠道化： 增长最快的公司都是那些抓住新兴趋势并随之成长的公司。 对 Pylon 来说，这一趋势是 B2B 企业与客户沟通正在变得更 加 Omnichannel。 AI Customer Support 是我们持续关注的领域。客户关系管理直接影响 B2B 客户留存与拓展。然而现有工具多针对 B2C 场景，B2B 支持渠道尚不完 善。基于 B2B 复杂的 Customer Support 链条与产品需求，初创公司 Pylon 正在打造专为 B2B 企业全栈 Customer Support 团队设计的协同工作平台。 Pylon 也是我们从硅谷 founder 口中经常听到的名字。 Pylon ...

Summary of Conference Call Company and Industry Overview - The conference call discusses the performance and outlook of a company in the food industry, specifically focusing on its revenue growth, product categories, and market strategies. Key Points Financial Performance - The company reported a total revenue of 2.412 billion yuan for 2024, representing a year-on-year growth of 16.79% [1] - The scale of operations reached 291 million yuan, with a year-on-year increase of 39.01% [1] - The company's Q4 revenue was 76.62 million yuan, marking a record high for a single quarter in its history [1] Product Categories and Growth - All three core product categories showed growth, with cloud products performing exceptionally well [1] - Small packaging products exhibited strong performance, particularly in circulation and human channels [4] - The company has introduced new products, including various types of meat and plant-based options, which have received positive market feedback [2] Channel Performance - The company achieved steady growth across all seven major regions in China, with notable performance in temporary and modern channels [3] - The temporary channel expanded to cover over 100 temporary systems and more than 30,000 stores, achieving over 100% growth [3] - Online sales faced challenges, experiencing a single-digit decline, but showed signs of recovery towards the end of the year [7] Market Strategy - The company is focusing on a multi-channel strategy, including traditional retail and e-commerce, to enhance market penetration [9] - There is an emphasis on product innovation and differentiation to meet consumer demands and maintain competitive advantages [22][23] - The company plans to expand its product offerings and improve packaging to cater to different consumer preferences [10][28] Supply Chain and Cost Management - The company is expanding its production capabilities, including a new facility in Guangxi, to enhance supply chain efficiency [18] - Cost pressures are anticipated due to rising raw material prices, but the company expects to manage these within a stable range [20][46] Future Outlook - The company aims for continued growth in the fish product category, projecting a high-speed growth trajectory [26] - There is confidence in the market potential for the safety egg product category, with expectations of reaching a market size of 100 billion yuan [36] - The company is committed to maintaining quality over price competition, focusing on long-term brand development [25] Additional Insights - The company has received recognition for its social responsibility initiatives, including awards for sustainable development [5] - The management emphasizes the importance of innovation and adapting to consumer trends to ensure long-term success [24][37] Conclusion - The company is positioned for growth in 2025, with a focus on expanding its product lines, enhancing supply chain capabilities, and maintaining a strong market presence through innovative strategies and quality products.

今天分享的是：腾讯&罗兰贝格：2025年医疗大健康行业全渠道营销报告 报告共计：24页 《医疗大健康行业全渠道营销报告》由罗兰贝格与腾讯营销洞察联合发布，深入剖析了大健康行业的发展趋势、 营销痛点，并提出全渠道营销解决方案。 1. 产业变革与机遇挑战：在"健康中国"战略和消费升级推动下，大健康产业迎来发展机遇，各细分板块增长潜力 强劲。但也面临资本市场理性、集采政策深化等挑战。需求端，消费者健康管理需求升级，从疾病治疗向全生命 周期健康维护转变；供给端，终端渠道多元化，消费品和医药企业跨界竞争加剧，政策驱动渠道变革和营销规范 化。 2. 品牌营销痛点：新品牌面临市场信任壁垒高、品牌建设难度大等问题；成熟品牌需提升用户忠诚度，应对线上 营销挑战；品牌组合协同增长时，存在资源分配不均、内部竞争等情况；传统强牌则要解决品牌形象固化、沟通 方式落后的问题。这些痛点反映出大健康企业在渠道整合、数字化营销、订单转化和品牌建设方面存在不足。 3. 全渠道营销的必要性及方案：全渠道营销能深度把控"消费者健康周期"，实现从"产品销售"到"健康服务"的升 级，提升市场竞争力和用户忠诚度。腾讯营销生态通过私域深度运营、数据融合决策 ...

Core Viewpoint - The article highlights the potential of China's snack market, particularly focusing on the growing popularity of chicken feet snacks, such as "tiger skin chicken feet," and the opportunities for domestic brands to establish themselves as global leaders in the snack industry [1][3][19]. Market Overview - The overall scale of China's snack market exceeds 1.4 trillion yuan, with the pre-packaged meat snack segment projected to reach 290.2 billion yuan by 2024 [1]. - Chicken feet snacks account for over 80% of the global chicken feet production, with a significant annual consumption of 33.6 billion pieces in China [3]. Consumer Preferences - The top three snack categories in China are nuts and seeds, puffed snacks, and marinated snacks, all of which are billion-yuan markets with double-digit annual growth rates [4]. - Tiger skin chicken feet are emerging as a popular snack, with a growth rate of 18%, driven by their versatile flavor profile and cultural significance in Chinese cuisine [5]. Brand Development - Wang Xiaolu, a leading brand in the tiger skin chicken feet category, has achieved nearly a hundredfold revenue growth from 2019 to 2024, showcasing the potential for domestic brands to thrive [3][11]. - The brand emphasizes flavor innovation and product standardization to ensure consistent quality, addressing challenges in traditional marinated snack production [9][11]. Distribution Channels - Despite the growth of e-commerce, 80% of snack sales still occur through offline channels, highlighting the importance of physical retail presence for snack brands [13]. - Wang Xiaolu has successfully penetrated over 230,000 retail outlets across more than 300 cities, with offline sales contributing over 70% to its revenue [17]. Branding and Marketing Strategies - The article discusses the significance of emotional value and social connection in snack consumption, with brands needing to build strong identities to compete against private label products [19][20]. - Wang Xiaolu's marketing strategy focuses on targeting the "binge-watching" scene, leveraging popular dramas and social media to enhance brand recognition and consumer engagement [21][22]. Industry Challenges - The lack of world-class snack brands in China is attributed to insufficient brand building and market fragmentation, with many brands competing on price rather than quality [19]. - The article suggests that for a domestic brand to achieve global recognition, it must excel in product development, distribution, and branding [22].

Baozun (BZUN) Q4 2024 Earnings Call March 20, 2025 07:30 AM ET Company Participants Wendy Sun - Senior Director of Corporate Development & Investor RelationsVincent Qiu - Chairman and CEOJunhua Wu - Director, Chief Strategy OfficerCatherine Yanjie Zhu - Chief Financial OfficerArthur Yu - President of E-commerce BusinessKen Huang - CFOXiaowei Yan - Model Risk Management - Market and CCR Risk & VP Conference Call Participants Alicia Yap - AnalystNone - Analyst Operator Good morning, ladies and gentlemen, and ...

Kohl’s (KSS) Q4 2025 Earnings Call March 11, 2025 09:00 AM ET Company Participants Trevor Novotny - Senior Finance Manager, Investor RelationsAshley Buchanan - CEOJill Timm - Chief Financial OfficerDana Telsey - CEO and Chief Research OfficerOliver Chen - Managing Director - Retail, Luxury, New Platforms Sector HeadMichael Binetti - Senior Managing DirectorAshley Helgans - Senior Vice PresidentBrooke Roach - Vice President - Equity Research Conference Call Participants Mark Altschwager - Senior Research Ana ...