公开资料显示，新希望集团是一家以现代农牧与食品产业为主营业务的民营企业集团，是中国最大的 肉、蛋、奶综合供应商之一。同时，该集团立足农牧行业并不断向上、下游产业延伸，形成农牧食品、 乳品快消、智慧城乡等相关产业。 不难看出，新希望集团不断扩大自身业务版图，通过业务创新持续保持营收增长。不过，王子约提到， 从宏观战略角度来看，企业在寻找第二增长曲线时，一定要做自己熟悉的领域。传统企业贸然布局无关 高新产业，背后风险很高。 她举例道，新希望集团生产的低温食品一直都有冷链运输的需求。公司以合伙人模式投资整合数字化冷 链公司，已经做到中国第一。"这个公司我们大概投资运营8年。投的时候是2亿元，每年都实现倍增， 现在大概估值早已超过百亿元。"王子约说，这就是在产业链上做合理延伸。 而从微观的角度来看，王子约认为，我国消费品早已从过去的不足转向满足细分需求和场景的阶段，建 议企业在产品创新角度要聚焦。 【新希望王子约：用户关注情绪消费和品类冠军 品牌创新应做聚焦】2025年12月10日，由《中国经营 报》主办的"趋势之上 信仰之下"2025中国消费趋势论坛在北京举行，新希望集团品牌总经理、四川省 永好公益慈善基金会理事长 ...

Core Insights - The consumer market is undergoing significant changes, with a focus on value for money and niche category champions [3] - Emotional consumption is becoming more prevalent, as seen with the success of local specialty products like tree tomato hot pot base [3] - Brand marketing is shifting towards comfort marketing, emphasizing consumer perspectives rather than traditional aggressive marketing tactics [3] Company Overview - New Hope Group is a leading private enterprise in China, primarily engaged in modern agriculture, animal husbandry, and food industries, recognized as one of the largest suppliers of meat, eggs, and dairy products [3][4] - The company is expanding its business scope through innovation while maintaining revenue growth [4] Business Strategy - From a macro perspective, companies should focus on familiar fields when seeking new growth avenues, as venturing into unrelated high-tech industries carries significant risks [4] - New Hope Group has successfully integrated digital cold chain logistics, achieving a valuation exceeding 10 billion yuan after an initial investment of 200 million yuan [4] Product Innovation - The consumer goods sector has shifted from scarcity to meeting specific needs and scenarios, suggesting that companies should concentrate on product innovation [4] - New Hope Group has historically developed around 600 SKUs annually, but only a few have performed well, indicating a need for focused product strategies [4] Financial Performance - New Hope Group's dairy segment, New Dairy, reported revenue of 8.434 billion yuan in the first three quarters of the year, reflecting a year-on-year growth of 3.49%, with a net profit of 623 million yuan, up 31.48% [5] Future Trends - The market for functional products is expected to grow, driven by consumers' evolving health consciousness, alongside significant potential for the industrialization of native products [5] - Companies need to standardize and professionalize the processing of native products to unlock their market potential [5] - Innovation in the consumer sector requires a fundamental rethinking of the entire supply chain and product development approach [5]

Core Insights - The report by QuestMobile indicates that the monthly active user base of post-00s on Xianyu has reached 43.61 million, ranking fourth in the mobile shopping industry, with a growth rate of 47.1%, surpassing platforms like Taobao, JD.com, and Pinduoduo [1][3] User Engagement and Demographics - As of October 2025, the total monthly active user base of post-00s in the mobile internet has reached 179 million, showing a year-on-year growth of 10.1%, accounting for 14% of all internet users [3] - Post-00s exhibit a higher depth of internet usage compared to other demographics, with an average monthly usage time of 217.6 hours and an average of 3,296.7 sessions, reflecting year-on-year increases of 3.7% and 4% respectively, significantly above the average levels of all internet users [3] Consumption Trends - The consumption patterns of post-00s in the mobile internet reveal new characteristics, as they are not only focused on shopping but also engage in cyclical and emotional consumption, which serves both personal fulfillment and social asset accumulation [3] - Post-00s are identified as the core driving force behind the "Guzi economy," showing strong interest and high spending potential in trendy toys and IP culture [3] - Xianyu has experienced explosive growth in Guzi and trendy toy consumption this year, with historical highs in Guzi transaction volume in Q1 and a 167% increase in sales of traditional Guzi products; in Q2, trendy toy transaction volume surged over 300%, with a year-on-year increase of 43.4% in average monthly consumers and an average spending of 218 yuan per transaction [3]

Investment Rating - The report indicates a high growth potential for the Chinese collectible card market, with a compound annual growth rate (CAGR) of 67.87% from 2017 to 2024, and a projected CAGR of 11.1% from 2024 to 2029 [8][10]. Core Insights - The Chinese collectible card market is experiencing rapid expansion driven by "IP economy," "emotional consumption," and "social interaction," transitioning from a highly concentrated competitive landscape to a more diversified one [7]. - The market size has grown from RMB 700 million in 2017 to RMB 26.3 billion in 2024, with expectations to reach RMB 44.6 billion by 2029 [8][10]. - Despite the rapid growth, per capita spending in China remains significantly lower than in mature markets like Japan and the USA, indicating substantial room for growth [11]. Market Dynamics - The competitive landscape is currently dominated by a few key players, with 卡游 holding a market share of 71.1% as of 2024, while the top five companies account for 82.4% of the market [15][20]. - The core driver of the collectible card industry is the richness and exclusivity of IP resources, which are essential for building competitive strength [16]. - Channel layout and community operation are critical for maintaining market position, with 卡游 leveraging a robust multi-channel sales network [17]. Consumer Trends - The user demographic is becoming younger, with the Z generation and female users increasingly participating in the market, shifting towards interest and emotional consumption [24]. - Innovative models like live-streaming card unboxing have transformed card consumption into community interaction activities, significantly boosting user engagement [27][28]. Product Categories - The industry has diversified into four main product categories: IP cards, sports cards, film cards, and star cards, with IP cards being the largest segment [37][38]. - Each category has distinct characteristics and target audiences, with IP cards leading the market due to their strong cultural appeal [40]. Future Outlook - The report suggests that the future of the collectible card market will depend on the ability to innovate and deepen engagement with core drivers, such as IP development and community building [37][46]. - The integration of online and offline channels is crucial for providing a diverse consumer experience, with significant growth potential in the online sales segment [34].

洞见数据研究院 以下文章来源于表外表里 ，作者洞见数据研究院 表外表里 . 来源丨 表外表里（ID：excel-ers） 作者丨 杨晓庆 编辑丨 付晓玲 曹宾玲 图源丨泡泡玛特官方微博 泡泡玛特，正在上演 一场 惊心动魄的 "景气接力" 。 当人们观察 到A面， 北美 铺货 占比达 2/3 的 L abubu ，在 " 黑五 " 销量 走弱 ， 美国 本季度 销售增速 可能从 120 0% 降至 500% ， 便 推 断 L abubu会 过气 ， 超级景气周期即将 告终 。 然而却 忽视了B面，SP 系列审美逐渐"风格 漂移"。原来的暗黑系逐渐演变成甜美 风 ，去年 主打 温暖 陪伴 的 经典 "温度"系列，又卖火了 。 更重要的是，星星人的 爆发 势头， 也超越了 曾经的 L abubu ： 从搪胶玩偶推出到销售额逼近4 亿 大关， 花了近 2 年，而星星人 诞生 仅仅 6 个月，便达成这一里程碑。 这 AB 两面，反映了一个事实 ： L abubu 也许 会 过气，但泡泡玛特不会。 真正去理解情绪消费这门生意、了解泡泡玛特的爆款从何而来 、 如何 接力，会发现其 增长法则一 直很清晰 —— 在社会环境、 ...

Core Insights - The article discusses the evolution of wealth in China over the past decade, highlighting the shift from real estate tycoons to new wealthy individuals in sectors driven by "emotional value" such as Pop Mart, Laopu Gold, and Card Game [4][6][9]. Group 1: New Wealth Creation - The top new entrants in the wealth rankings for 2025 include Xu Gaoming and Xu Dongbo from Laopu Gold with a wealth of 69.5 billion yuan, and Li Qibin and Qi Yan from Card Game with 60 billion yuan [7]. - Pop Mart's revenue and net profit have both increased by over 200% year-on-year, while Card Game's revenue is projected to exceed 10 billion yuan in 2024 with a net profit margin over 40% [7][9]. - The rise of milk tea brands has also contributed to the creation of new wealthy individuals, with brands like Guming and Bawang Tea entering the wealth rankings [9]. Group 2: Historical Context - The article contrasts the current wealth landscape with that of 2015, when high-tech internet and manufacturing sectors were the primary sources of new wealth, exemplified by DJI's founder Wang Tao and Didi's Cheng Wei [9][10]. - Many of today's successful companies were initially underestimated by major investors, who missed opportunities to invest in them before they became billion-dollar enterprises [10][12]. Group 3: Female Entrepreneurs - The article notes a significant increase in female entrepreneurs on the wealth list, with women making up 22.4% of the total, and over 70% being first-generation wealth creators [13][16]. - Notable female figures include Zong Fuli, who became the first female billionaire in 2024, and Zhong Huijuan, who, along with her daughter, became the first female billionaire from the pharmaceutical industry [16][17]. Group 4: Wealth Stability and Changes - The article outlines that five individuals have held the title of China's richest over the past decade, including Wang Jianlin, Xu Jiayin, Jack Ma, Zhang Yiming, and Zhong Shanshan [19]. - Zhong Shanshan's wealth, primarily from his companies Nongfu Spring and Wantai Biological Pharmacy, reached 530 billion yuan, making him the richest for the fourth consecutive year [19][20]. Group 5: Decline of Real Estate Tycoons - The article highlights a significant decline in the representation of real estate tycoons on the wealth list, dropping from 30% to just 10% over the past decade [28]. - Wang Jianlin and Xu Jiayin, once at the top, have faced severe financial difficulties, with Wang's company facing economic disputes and Xu's assets being frozen due to debt issues [30][31][32].

封面来源 | 企业提供 "她在花车上。" 当地时间11月27日，家住纽约的雅各布参加了梅西百货感恩节大游行，他原以为LABUBU会以巨型气球的形态亮相，没想到除了大气球，LABUBU明星 朋友也出现在花车上。 在纽约留学的李悦也同样感到惊讶。"泡泡玛特和迪士尼的花车经过的时候，全场欢呼声非常响亮。我以为知道LABUBU的都是中国人，但显然很多美国 人对LABUBU也非常感兴趣。" 今年的游行队伍中，共包括34个大型气球、28辆花车。 其中，泡泡玛特的花车以"Friendsgiving in Pop City"为主题，16英尺高的LABUBU与MOKOKO以毛绒气模形态登场，同时携手SKULLPANDA、MOLLY、 DIMOO、PEACH RIOT和DUCKOO等IP一同亮相。 作为全美瞩目的文化盛事，能登上梅西感恩节大游行花车的IP，大多已是世界级的文化符号：无论是米老鼠、超级马里奥、史努比，还是海绵宝宝、巴斯 光年和宝可梦，在上个世纪就已经诞生，陪伴几代全球粉丝成长，并展现出持久的全球影响力与商业价值。 一位行业人士表示，LABUBU等一众IP以"新面孔"的姿态亮相，引发当地消费者的热情欢呼，一定程度上也 ...

主题演讲 "老名酒"与"新消费"双向奔赴 陕西西凤酒厂集团有限公司党委副书记 2025年是"十四五"的收官之年，也是谋篇布局之年。"科技自立自强"与"社会民生改善"是"十五五"的主要目标之一。加快建设强大国内市场，增强内需拉 动经济的能力是"十五五"的重要战略任务。 回顾2025年的消费市场，中式消费思维和产品不断向全世界延伸，国内的消费思维和惯性也在不断地向务实和理性看齐。消费者对于品牌的信任感在不断 攀升，各类商品的品牌形象建设也达到全新的高度。 "趋势之上"要求企业不只是追逐潮流，而是要洞察并引领根本性的变化；"信仰之下"则指向最高阶的品牌目标——如何打造一个让消费者不仅喜欢，更产 生信任乃至信仰的品牌。在AI技术开始影响和渗透各行各业的大环境下，如何运营新的技术重塑和赋能品牌成为当下各个产品所面临和思考的问题。 "2025中国消费趋势论坛"围绕"新消费、新趋势、新市场"，解码消费市场的商业逻辑，挖掘潜藏的商业机遇。 郭拴新表示，"老名酒"与"新消费"的双向奔赴终在共生，唯有实现传统与现代的"生"，才能成就行业发展的"态"。西凤酒的实践印证了一个核心逻辑，那 就是"新消费"不是对传统的颠覆，而是让传统以 ...

Core Viewpoint - Pop Mart is experiencing a dynamic "economic relay," where while Labubu's sales growth in North America is expected to decline significantly, the emergence of new IPs like Star People indicates that Pop Mart's overall growth strategy remains robust and adaptable to changing consumer emotions [1][3]. Group 1: Market Dynamics - Labubu's sales growth in North America is projected to drop from 1200% to 500% during the Black Friday period, raising concerns about its longevity [1]. - The emergence of Star People, which achieved nearly 400 million in sales within just six months, suggests a shift in consumer preferences and highlights Pop Mart's ability to adapt [3]. - The strategy of capturing mainstream emotions allows Pop Mart to continuously engage young consumers, as evidenced by the high resale prices of Star People products in the secondary market [5][6]. Group 2: Emotional Consumption Strategy - Pop Mart's approach diverges from traditional IP models by focusing on "controllable randomness" to activate emotional consumption, indicating a new path for sustaining interest in its products [5]. - The evolution of IPs reflects societal emotional changes, with Star People resonating with current youth sentiments, contrasting with the earlier popularity of Labubu [6][8]. - The company has successfully identified and nurtured IPs that align with societal emotions, leading to a clear growth pattern in its product offerings [8][10]. Group 3: Global and Local Adaptation - Pop Mart's global IPs resonate with diverse cultural backgrounds, allowing for emotional expression without the need for a shared narrative, which is crucial for international appeal [10][14]. - Localized IP strategies, such as using softer aesthetic characters in regions with different cultural values, demonstrate Pop Mart's adaptability in various markets [14][17]. - The company's growth strategy is rooted in understanding local economic conditions and cultural sentiments, maximizing the value derived from emotional consumption [17][20]. Group 4: IP Development Mechanism - Pop Mart employs a systematic approach to IP development, utilizing a "anchor-reserve-race-test-heat" mechanism to identify and cultivate potential hits [18][24]. - The company has established a robust pipeline of over 350 artists globally, ensuring a continuous influx of creative IP ideas [20][22]. - The success rate of new IPs at Pop Mart has reached 68%, significantly higher than the industry average of 30%, showcasing the effectiveness of its development strategy [30]. Group 5: Long-term Vision - Pop Mart is positioned as a long-term player in the market, focusing on social emotions as a guiding principle for growth and employing industrial standards to refine its entire operational chain [30][31]. - The company aims to become a global IP factory, continuously evolving its strategies to capture and respond to changing consumer sentiments [31].

Core Insights - The report by QuestMobile indicates that the monthly active user base of post-2000s (00后) on Xianyu has reached 43.61 million, ranking fourth in the mobile shopping industry, following Taobao, JD.com, and Pinduoduo, with a growth rate of 47.1%, surpassing all comprehensive e-commerce platforms [1]. User Engagement and Demographics - As of October 2025, the total monthly active user base of post-2000s on the mobile internet has reached 179 million, representing a year-on-year growth of 10.1%, accounting for 14% of the overall internet user base [3]. - Post-2000s users exhibit a higher engagement level in mobile internet usage compared to other demographics, with an average monthly usage time of 217.6 hours and an average of 3,296.7 usage instances, reflecting year-on-year increases of 3.7% and 4% respectively, significantly above the average levels of all internet users [3]. Consumption Trends - The consumption patterns of post-2000s users on mobile internet reveal new characteristics, as they are not only focused on shopping but also engage in cyclical and emotional consumption, which serves to recharge their spirits and build social assets, forming a complete value satisfaction system [3]. - The report highlights that post-2000s users are the core drivers of the "Guzi Economy," showing strong interest and high consumption potential in trendy toys and IP culture. Xianyu has experienced explosive growth in these areas, with historical highs in Guzi transaction volumes in Q1 and a 167% increase in sales of traditional Guzi products; in Q2, the transaction volume for trendy toys surged over 300%, with a year-on-year increase of 43.4% in average monthly consumers and an average spending of 218 yuan per transaction [3].