日前，河北石家庄城发投集团举办"与城市共生长"四周年战略发布会，正式发布《石家庄城发投集团品 牌战略白皮书》。 据介绍，2021年10月，由原石家庄住建集团、城投集团、地产集团、国控集团四大集团及石家庄市市政 建设总公司、市建筑设计院等15家国有企业重组整合，成立了石家庄国控城市发展投资集团有限责任公 司（简称"石家庄城发投集团"）。该集团下设住建集团、城投集团、城运集团等12家二级集团（公 司），是一家集融资、投资、城市建设、管理、服务、运营等职能于一身的现代新国企。 （来源：经济日报） 转自：经济日报 "下一步，集团将围绕'与城市共生长'的品牌核心，精准对接城市更新需求，构建'空间、资本、能力'三 大品牌价值闭环，全面赋能石家庄高质量发展。"刘守彬说。 石家庄城发投集团副总经理刘守彬介绍，集团将自身品牌定位为"城市综合运营商，产业融合践行者"， 从规划、建设到运营、服务全链条统筹推进，把城市作为有机生命体系统谋划，作为整体艺术品精雕细 琢；不仅把楼建起来，更要把产业引进来，让资本、项目、企业和人才在石家庄扎根生长、彼此成就。 ...

"致力于解决客户实际生产中的难题，用技术创新回应行业期待。"范韶刚表示，中国煤科实现全产业布 局，从矿山智能设计到示范矿山建设，从透明地质保障平台到智能采煤成套装备，从生态环境治理技术 到煤炭清洁高效利用方案，从安全监测监控设备到煤矿灾害防治救援，中国煤科产品矩阵全面覆盖煤炭 全产业链，以精准适配性满足不同场景下的客户需求。 "面向未来，中国煤科将围绕构建清洁低碳、安全高效的现代能源体系总目标，推动智能技术与煤炭产 业深度融合，在保障国家能源安全、推动行业科技进步、建设品牌强国的征程中，勇担央企使命，谱写 品牌发展新篇章。" 1月6日，中国煤科党委副书记、总经理范韶刚在第二届中国煤科品牌发布会上如是表示。 近年来，国务院国资委系统推进中央企业品牌建设工作，将"品牌"列为央企核心竞争力的关键要素，为 做强做优做大国有企业和国有资本、实现高质量发展提供坚实支撑。 范韶刚说，中国煤科坚持价值创造，强化战略实施，将品牌建设与企业改革发展、生产经营、科技创新 统筹推进、深度融合，努力探索符合企业实际的品牌建设之路。围绕煤炭绿色智能开发和清洁高效低碳 利用，中国煤科将"创新领先"与"品质可靠"作为品牌的核心价值，下大力气 ...

Core Viewpoint - The company is experiencing strong performance in its IF coconut water brand, with expectations for continued growth in 2025, outpacing industry averages. However, Innococo's sales have declined in the first half of 2025, with anticipated recovery in the second half following channel adjustments [1][2]. Group 1: Company Performance - IF coconut water is expected to maintain a rapid growth trajectory in 2025, leading the industry average growth rate [1]. - Innococo's sales volume decreased in the first half of 2025, but a recovery is anticipated in the second half after channel adjustments [1]. - The company's market share increased in Q3 2025 compared to the same period last year, with distributor inventory levels remaining in a reasonable and controllable range [1]. Group 2: Industry Outlook - The coconut water industry is projected to grow at an overall rate of 27.18% in 2025, significantly higher than the growth rates of the soft drink industry (7.78%), carbonated beverages (5.52%), packaged water (12%), and functional drinks (10%) [1]. Group 3: Channel Expansion and Cost Management - The company has signed a partnership with COFCO in September 2025, with plans for further agent expansion and increased channel layout efforts in 2026 [2]. - Coconut procurement costs have decreased in 2025 due to expanded production capacity, with expectations for continued cost optimization and supply chain efficiency improvements in 2026 [2]. Group 4: Brand Development and Marketing - In September 2025, Innococo announced a new brand ambassador and launched new products, alongside a series of marketing campaigns [2]. - The company plans to enhance brand recognition through increased resource investment in platforms like Xiaohongshu and WeChat, focusing on consumer education [2]. - A memorandum of cooperation was signed during the China International Import Expo in November 2025, establishing the IF brand's China headquarters in Shanghai [2]. Group 5: Financial Projections - Revenue projections for 2025-2027 are $183.86 million, $256.20 million, and $322.21 million, reflecting year-on-year growth rates of 16.63%, 39.34%, and 25.77% respectively [2]. - Expected net profit for the same period is $31.84 million, $51.30 million, and $67.42 million, with year-on-year growth rates of -4.43%, 61.13%, and 31.41% respectively [2]. - The projected EPS for 2025-2027 is $0.12, $0.19, and $0.25, with corresponding PE ratios of 18, 11, and 8 times [2].

（文章来源：证券日报） 证券日报网讯 1月7日，明牌珠宝在互动平台回答投资者提问时表示，公司持续加大明牌传家金品牌推 广及渠道建设，以夯实品牌矩阵，推动业绩提升。 ...

Core Viewpoint - China Coal Science and Technology Group aims to integrate intelligent technology with the coal industry to build a clean, low-carbon, safe, and efficient modern energy system, while enhancing brand development and ensuring national energy security [1][3]. Group 1: Brand Development and Strategy - The State-owned Assets Supervision and Administration Commission (SASAC) has prioritized brand building as a key element of central enterprises' core competitiveness, supporting the growth and high-quality development of state-owned enterprises [1]. - China Coal Science and Technology Group emphasizes value creation and strategic implementation, integrating brand development with corporate reform, production operations, and technological innovation [1][2]. Group 2: Technological Innovations and Product Offerings - The company has developed several flagship products, including the "China Coordinate" coal sea dragon, a world-first 10-meter high intelligent coal mining machine, and the longest 727-kilometer coal transportation pipeline in Shaanxi [2]. - China Coal Science and Technology Group's product matrix covers the entire coal industry chain, addressing various customer needs from intelligent mining design to ecological environment management and disaster prevention [2]. Group 3: Innovation and Quality Management - The company is focused on optimizing its innovation ecosystem, enhancing technological innovation capabilities, and fostering research talent, which has led to the establishment of 8 champion enterprises and 11 champion products [2]. - China Coal Science and Technology Group integrates craftsmanship into all aspects of the coal industry, implementing comprehensive quality management and developing a digital quality control model [2]. Group 4: Strategic Goals - The company will continue to strengthen research on key core technologies and common foundational technologies, aligning with national strategic needs and carbon neutrality goals [3].

中邮证券发布研报称，IFBH(06603)旗下IF椰子水品牌2025年预计延续较快增长，行业整体增速领先软 饮赛道。公司渠道持续扩张并签约新代理商，同时成本端迎来优化。品牌建设方面，通过签约代言人、 新品推广及加大营销投入强化市场认知。维持"买入"评级。 中邮证券主要观点如下： 品牌IF椰子水延续良好表现，公司同步推进品牌建设与运营完善 IF椰子水25年预计保持较快增长势头，增速领先行业平均水平；Innococo25年上半年销量出现下滑，下 半年受渠道调整影响订单交付，预计整改后年底将恢复正常，因此该行预计下半年市场表现将继续承 压。公司25Q3市场份额较去年同期有所提升，目前经销商库存处于合理可控的正常区间。从行业层面 来看，2025年椰子水行业预计整体增速在27.18%，高于软饮行业整体增速7.78%、碳酸饮料5.52%、包 装水12%和功能饮料10%，椰子水行业整体仍处于高速增长期。 渠道持续扩张，网点拓展成效显著 公司25年9月签约中粮名庄荟，预计未来仍将有代理商拓展计划，渠道布局力度不断加大，26年预计继 续推进渠道拓展。成本端随着近几年原产地产能持续扩大，25年椰子采购成本有所下降，26年预计除延 ...

Core Viewpoint - The IFBH's coconut water brand is expected to maintain rapid growth in 2025, outpacing the overall soft drink industry growth rate, supported by channel expansion and cost optimization efforts [1][2]. Industry Overview - The coconut water industry is projected to grow at a rate of 27.18% in 2025, significantly higher than the soft drink industry's growth of 7.78%, carbonated drinks at 5.52%, packaged water at 12%, and functional beverages at 10% [2]. Company Developments - The company has signed a new partnership with COFCO in September 2025, indicating ongoing plans for channel expansion and increased distribution efforts [3]. - The procurement costs for coconuts are expected to decrease in 2025 due to expanded production capacity, with further cost optimization measures planned for 2026 [3]. - The company announced a brand ambassador in September 2025 and plans to enhance marketing efforts through various media platforms, including Xiaohongshu and WeChat [3]. - A memorandum of cooperation was signed during the China International Import Expo, establishing the IF brand's China headquarters in Qingpu, Shanghai, with plans for office setup and team formation in 2026 [3]. Financial Projections - Revenue forecasts for 2025-2027 are $183.86 million, $256.20 million, and $322.21 million, representing year-on-year growth of 16.63%, 39.34%, and 25.77% respectively [4]. - Expected net profit for the same period is $31.84 million, $51.30 million, and $67.42 million, with growth rates of -4.43%, 61.13%, and 31.41% respectively [4]. - The projected earnings per share (EPS) are $0.12, $0.19, and $0.25, with corresponding price-to-earnings (PE) ratios of 18, 11, and 8 times [4].

证券研究报告：食品饮料 | 公司点评报告 股票投资评级 买入|维持 个股表现 -70% -60% -50% -40% -30% -20% -10% 0% 10% 20% 30% 2025/6/30 2025/7/31 2025/8/31 2025/9/30 2025/10/31 2025/11/30 IFBH 食品饮料 资料来源：聚源，中邮证券研究所 | 公司基本情况 | | --- | | 最新收盘价(港元） | 16.69 | | | --- | --- | --- | | 总股本/流通股本(亿股) | 2.67 | | | 总市值/流通市值(亿港 | 42 | | | 元） | | | | 52 周高/低(港元） | 47.55/14.49 | | | 资产负债率(%) | 17.81 | | | 市盈率 PE | 17.4 | | | 第一大股东 | General | Beverage | | | Co., Ltd. | | 研究所 分析师:蔡雪昱 SAC 登记编号:S1340522070001 Email:caixueyu@cnpsec.com 分析师:张子健 SAC 登记编号:S13405240 ...

现在的购物中心去吃饭的人占大多数。网红餐厅的热闹提醒我们：大家永远愿意为美好的体验和社交价值付费。与之相对的是服装店里只有店员。 比如，有芸友去看了厦门海沧SM城市广场开业，当天有八万多的客流，餐饮甚至有些排队，但相对而言，服装零售店提袋率仍非常低。 庄主询问芸友他们有无想过通过门店装修改进来吸引客流。芸友表示有想过，但现在推动店铺装修整改要额外花钱，大家现在都不愿意做大投入。另外装 修如果只是小改动，无法让顾客有明确的感知；如果大动但货品不进行相应调整，客户即使进店了，发现货品和以前仍一样，也可能不太会买。 潮牌店 ▼以下的冷芸时尚圈讨论是就行业问题的讨论及总结。这些分享属于集体智慧的结晶。（它们并不代表冷芸个人观点）。希望通过此种方式能让更多行业 人士受益！ 当下服装品牌生意现状？ 1、大家分享各自业务现状 有芸友说现在杭州服装公司的日子都不好过，都在裁员，内卷也很厉害。 有位芸友的潮牌店虽然开在上海流量中心的位置，但是客流并不高。好在潮牌产品有二级市场可以炒价格，所以来买的人支付的客单价高，基本3000以上 的单占比大，这就可以平衡人流问题。 有芸友坐在红袖 hopeshow 门店门口观察40分钟，觉得 ...

Core Insights - The article discusses the transition of cross-border e-commerce from an "opportunity-driven" approach to a "capability-driven" one, emphasizing the need for manufacturing companies to adapt to global standards and compliance requirements in order to succeed in overseas markets [1][6]. Group 1: Company Strategy and Operations - The company, Chuangtong Yigou, has strategically positioned itself in the cross-border e-commerce space by focusing on Amazon as its primary channel, starting from the UK and gradually expanding to Europe and North America [1][6]. - The management team began researching cross-border e-commerce models around 2018, influenced by the visible success of peers who had launched small teams on Amazon and achieved significant revenue growth [8][9]. - Initial sales in the UK exceeded expectations, with daily order volumes quickly surpassing 300, indicating a strong and stable demand for their standardized products [11][13]. Group 2: Challenges and Adaptation - As the company expanded into new regions, it faced challenges related to compliance and product adaptation, particularly due to the fragmented standards for electrical products across Europe [15][17]. - The importance of compliance was highlighted by an incident where multiple product listings were taken down due to compliance complaints, leading to a potential loss of hundreds of thousands of yuan [17]. - The company learned to leverage Amazon's support system effectively, which provided clear guidance during critical moments, thus reducing the trial-and-error cycle in their operations [19][22]. Group 3: Future Plans and Brand Development - Building on its experience in established markets, the company plans to enter emerging markets such as Brazil, Australia, and the Middle East, with a more systematic approach to replicating successful operational strategies [24]. - The company recognizes the need to elevate brand building as a priority, moving beyond reliance on price and functionality to create long-term consumer preferences [27]. - The relationship with Amazon has evolved from basic support to a more strategic partnership, focusing on long-term collaboration and shared goals [26].