1月19日，茂业商业盘中下跌2.14%，截至09:48，报6.87元/股，成交7992.28万元，换手率0.66%，总市 值118.99亿元。 截至9月30日，茂业商业股东户数3.03万，较上期增加4.82%；人均流通股57208股，较上期减少4.60%。 2025年1月-9月，茂业商业实现营业收入18.24亿元，同比减少14.20%；归母净利润4173.16万元，同比减 少72.88%。 资金流向方面，主力资金净流出197.96万元，特大单买入0.00元，占比0.00%，卖出113.22万元，占比 1.42%；大单买入910.24万元，占比11.39%，卖出994.97万元，占比12.45%。 茂业商业今年以来股价涨17.64%，近5个交易日跌10.66%，近20日涨8.53%，近60日涨66.75%。 今年以来茂业商业已经2次登上龙虎榜，最近一次登上龙虎榜为1月12日。 资料显示，茂业商业股份有限公司位于四川省成都市东御街19号，成立日期1993年12月31日，上市日期 1994年2月24日，公司主营业务涉及控股公司服务;项目投资及管理;企业管理咨询服务;租赁业务;商务信 息咨询;批发、零售商品;货物进出 ...

1月16日，供销大集盘中上涨2.05%，截至14:16，报2.49元/股，成交4.88亿元，换手率1.35%，总市值 449.65亿元。 截至1月9日，供销大集股东户数35.03万，较上期减少1.57%；人均流通股42006股，较上期增加1.60%。 2025年1月-9月，供销大集实现营业收入12.09亿元，同比增长6.91%；归母净利润7235.53万元，同比增 长165.19%。 分红方面，供销大集A股上市后累计派现4.49亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年9月30日，供销大集十大流通股东中，香港中央结算有限公司位居第十大流 通股东，持股2.11亿股，为新进股东。 责任编辑：小浪快报 资金流向方面，主力资金净流出4131.16万元，特大单买入2105.59万元，占比4.31%，卖出4105.64万 元，占比8.41%；大单买入6731.26万元，占比13.79%，卖出8862.38万元，占比18.15%。 供销大集今年以来股价跌0.40%，近5个交易日跌0.40%，近20日跌4.23%，近60日跌6.74%。 资料显示，供销大集集团股份有限公司位于陕西省西安市新城区解放路10 ...

Core Viewpoint - The company, Xiaocaiyuan, has announced a partnership to establish a joint venture aimed at enhancing its e-commerce and local lifestyle business, which includes online shopping and community instant stores [1] Group 1: Joint Venture Details - Xiaocaiyuan will collaborate with Deng Gaoke and Tian Chunying, contributing a total of 2 billion yuan (1400 million yuan from Xiaocaiyuan, 500 million yuan from Deng Gaoke, and 100 million yuan from Tian Chunying) to form the joint venture [1] - The joint venture will operate as a non-wholly owned subsidiary of Xiaocaiyuan and will focus on four main business areas: comprehensive e-commerce, local lifestyle, supply chain operations, and fourth-party distribution [1] Group 2: Strategic Goals - The transaction is expected to facilitate efficient resource allocation within the group and leverage the strengths of technology, channels, and talent from all parties involved, creating synergies to enhance overall operational efficiency [1] - The joint venture aims to explore the growth potential of quality supply chain resources and develop a new food consumption platform that integrates online shopping, community retail, and instant dining, thereby increasing brand value and market share [1] Group 3: Retail Strategy - Xiaocaiyuan plans to utilize its own products, such as rice and oil, for sales through both online platforms (like JD.com, Taobao, Douyin, and its own mall) and offline channels, including shopping malls and stores [2] - Future collaborations with suppliers or supply chains are anticipated to develop more products to meet the demands of the new retail channels [2]

谁能想到，如今零售业界的"当红炸子鸡"山姆会员店，竟然需要花260元购买一张"入场券"才能进入消费？这与家门口那些无需任何门槛的普通超市形成了 鲜明对比，不禁让人疑惑：山姆究竟有何魔力，能让消费者心甘情愿地为此买单？ 当传统大卖场接连倒闭，昔日的光辉逐渐褪色之时，山姆却逆势而上，年销售额高达1400亿，会员数量更是突破了1000万大关，其成功的背后，蕴藏着怎样 的商业逻辑和经营智慧？ 要理解山姆的成功，不妨先看看它的老对手盒马的经历。当年，作为阿里"新零售"战略的排头兵，盒马可谓风头无两，备受瞩目。 2016年，马云在云栖大会上高调推出"新零售"概念，瞬间点燃了整个零售行业的热情。含着金汤匙出生的盒马，由侯毅亲自带队，背靠阿里强大的流量和资 金支持，目标直指线上线下消费场景的深度融合。 盒马最初的设想极具吸引力：线下门店不仅是超市，更是前置仓，同时也能为APP引流。当年，帝王蟹的爆红，让消费者意识到原来在超市里直接享用海鲜 是如此新潮的体验。 然而，问题也随之而来。盒马过于急功近利，试图打造一个"全能王"，结果却迷失了方向。一会儿推出会员店，一会儿又开设邻里店和奥莱店，会员权益也 朝令夕改，时而收费，时而取消 ...

（文章来源：证券日报） 证券日报网1月15日讯 ，千味央厨在接受调研者提问时表示，从产品的角度来说，公司有服务大B端的 产品定制化研发能力；从质量控制的角度来说，公司各个生产及运输环节都有严格的检测和监测；从生 产的角度来说，公司具有稳定的供应能力；从品牌认知的角度，公司自成立就深耕行业，获得了广大消 费者的好评。公司有能力服务好新零售渠道客户的需求。 ...

Core Insights - The company, Qian Dama, has experienced a rapid growth trajectory, crossing the 10 billion RMB revenue mark in 8 years, but has faced significant challenges leading to a net loss of 288 million RMB in the first three quarters of 2025 after previously earning 288 million RMB annually [1][9][11] - The fresh food industry is notoriously difficult, with many companies, including Dingdong Maicai and Hema Fresh, struggling despite large-scale financing and initial high growth expectations [2][4] - Qian Dama's recent attempt to list on the Hong Kong stock exchange reflects a desperate need for capital amid financial pressures and a competitive landscape [5][17] Company Overview - Qian Dama was founded in 2012 in Dongguan, initially focusing on pork sales, and expanded to over 3,700 stores nationwide, achieving peak revenue of over 11.7 billion RMB [6][8] - The company adopted a "daily fresh" model, significantly reducing inventory turnover time to under 12 hours, which is much lower than the industry average of 2-4 days [12][13] - Despite its initial success, Qian Dama's revenue growth has stagnated, with a notable decline in net profit, attributed to a shift in consumer behavior towards only purchasing fresh goods [9][14] Financial Performance - In 2023, Qian Dama reported a revenue of 11.744 billion RMB, with a slight increase projected for 2024, but a decline of 4.2% expected in the first nine months of 2025 [11] - The company's gross profit margins are significantly lower than the industry average, with 2023 and 2024 margins at 9.8% and 10.2%, respectively, compared to the typical 15%-20% [14] - The number of stores has decreased to approximately 2,900 by September 2025, with a higher number of franchise terminations than new openings in recent years [16] Industry Context - The fresh food retail sector is highly competitive, with established players like Alibaba, JD, and Pinduoduo solidifying their positions, while Qian Dama's traditional model appears outdated [20][22] - Competitors such as Dingdong Maicai and Hema Fresh have shown signs of recovery and profitability, contrasting with Qian Dama's ongoing financial struggles [21][22] - The shift in consumer preferences towards price sensitivity has raised concerns about customer loyalty and profitability for Qian Dama, as many customers now only buy discounted fresh goods [16]

Core Viewpoint - Zhongbai Group's stock price has shown a modest increase in early trading, reflecting positive market sentiment despite recent financial challenges [1][2]. Group 1: Stock Performance - As of January 15, Zhongbai Group's stock price rose by 2.16% to 8.05 CNY per share, with a trading volume of 61.35 million CNY and a turnover rate of 1.17%, resulting in a total market capitalization of 5.33 billion CNY [1]. - Year-to-date, Zhongbai Group's stock has increased by 6.20%, with a 2.29% rise over the last five trading days, and a 2.94% increase over both the last 20 and 60 days [2]. Group 2: Company Overview - Zhongbai Group, established on January 9, 1990, and listed on May 19, 1997, is a large chain enterprise primarily engaged in commercial retail, including supermarkets and department stores, with additional involvement in pharmaceuticals, logistics, property management, and import-export trade [2]. - The company's revenue composition is primarily from merchandise sales, accounting for 91.07%, while other income contributes 8.93% [2]. Group 3: Financial Performance - For the period from January to September 2025, Zhongbai Group reported an operating income of 6.55 billion CNY, representing a year-on-year decrease of 19.41%, and a net profit attributable to shareholders of -580 million CNY, down 74.83% year-on-year [2]. - The company has distributed a total of 919 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [3]. Group 4: Shareholder Information - As of December 31, the number of shareholders in Zhongbai Group reached 97,700, an increase of 6.53% from the previous period, with an average of 6,711 circulating shares per person, a decrease of 6.13% [2]. - As of September 30, 2025, Hong Kong Central Clearing Limited was the sixth-largest circulating shareholder, holding 3.627 million shares as a new shareholder [3].

Core Insights - The decline of traditional beauty retail stores like Sa Sa and Watsons reflects a significant transformation in China's beauty retail industry, driven by changing consumer preferences and the rise of e-commerce [1][2][4] - The traditional retail model based on information asymmetry and personal sales has become ineffective, leading to a shift towards online shopping and new retail formats that prioritize consumer experience [4][5][12] Group 1: Decline of Traditional Retail - Watsons' parent company reported a 3% year-on-year decline in revenue to HKD 6.666 billion, with a net reduction of 145 stores, marking the fourth consecutive year of revenue decline [1] - Sa Sa International has completely exited the mainland China market, closing all physical stores by June 30, 2025, with a staggering 38.2% drop in revenue from offline channels, amounting to HKD 103 million [1] - The profitability of Watsons has significantly decreased, with EBITDA dropping 53% to HKD 117 million, the lowest in seven years [1] Group 2: Rise of New Retail Formats - New beauty retail players are emerging, focusing on experiential shopping and social media engagement, which resonate more with younger consumers [5][8] - These new stores, such as The Colorist and WOW COLOUR, emphasize a "freedom of experience" and have become popular destinations for young shoppers [7][9] - The new retail model prioritizes immersive experiences and interactive activities, transforming traditional shopping into a more engaging and enjoyable process [8][11] Group 3: Challenges and Future Outlook - The beauty retail industry faces the risk of homogenization, as many new stores adopt similar aesthetics and experiences, potentially diminishing their appeal [12][13] - To sustain consumer interest, new retail formats must innovate beyond surface-level replication and focus on unique brand narratives and product offerings [15][18] - The challenge remains to convert one-time visitors into loyal customers, requiring either exclusive product offerings or exceptional service experiences [16][17]

三全食品所属申万行业为：食品饮料-食品加工-预加工食品。所属概念板块包括：预制菜、新零售、无 人零售、中盘、融资融券等。 截至9月30日，三全食品股东户数4.40万，较上期减少1.48%；人均流通股14319股，较上期增加1.50%。 2025年1月-9月，三全食品实现营业收入50.00亿元，同比减少2.44%；归母净利润3.96亿元，同比增长 0.37%。 1月14日，三全食品盘中下跌2.06%，截至14:08，报11.40元/股，成交8786.14万元，换手率1.20%，总市 值100.23亿元。 资金流向方面，主力资金净流出181.03万元，特大单买入235.54万元，占比2.68%，卖出345.19万元，占 比3.93%；大单买入1098.42万元，占比12.50%，卖出1169.81万元，占比13.31%。 三全食品今年以来股价涨0.97%，近5个交易日涨0.97%，近20日涨1.79%，近60日涨5.26%。 资料显示，三全食品股份有限公司位于河南省郑州市综合投资区长兴路中段，成立日期2001年6月28 日，上市日期2008年2月20日，公司主营业务涉及家庭用速冻食品与餐饮业务用速冻食品以及冷藏、 ...

资金流向方面，主力资金净流入67.67万元，特大单买入184.74万元，占比3.38%，卖出114.42万元，占 比2.09%；大单买入1202.74万元，占比22.00%，卖出1205.39万元，占比22.05%。 1月14日，美凯龙盘中上涨2.07%，截至09:49，报2.96元/股，成交5467.77万元，换手率0.52%，总市值 128.90亿元。 机构持仓方面，截止2025年9月30日，美凯龙十大流通股东中，香港中央结算有限公司位居第九大流通 股东，持股1554.10万股，相比上期减少292.72万股。 责任编辑：小浪快报 美凯龙今年以来股价涨9.63%，近5个交易日涨8.82%，近20日涨2.78%，近60日涨7.25%。 截至9月30日，美凯龙股东户数5.39万，较上期减少3.86%；人均流通股0股，较上期增加0.00%。2025年 1月-9月，美凯龙实现营业收入49.69亿元，同比减少18.62%；归母净利润-31.43亿元，同比减少 66.55%。 分红方面，美凯龙A股上市后累计派现39.01亿元。近三年，累计派现3.48亿元。 资料显示，红星美凯龙家居集团股份有限公司位于上海市闵行区申长路 ...