Core Viewpoint - The resignation of Zong Fuli as the chairman and general manager of Wahaha Group marks a significant shift in the company's leadership, with the younger generation taking over amidst a backdrop of internal family conflicts and brand challenges [1][2][6]. Group 1: Leadership Changes - Zong Fuli has stepped down to focus on her own brand "Wah Xiaozong," while Xu Simin, born in 1994, has been appointed as the new general manager, leaving the chairman position vacant [1]. - The control of Wahaha has effectively returned to its largest shareholder, the Hangzhou State-owned Chengdu Cultural Tourism Group [1]. Group 2: Brand and Market Position - The brand "Wah Xiaozong" is seen as a forced choice for Zong Fuli, indicating a complete separation from Wahaha [2][3]. - The brand value of Wahaha, previously estimated at 90 billion, is now in jeopardy due to negative public perception and the collapse of the personal brands associated with the Zong family [12][13]. Group 3: Asset and Investment Considerations - Wahaha Group's actual assets are limited, with the Zong family retaining control over the production and sales, making it unattractive for potential investors [8][9]. - The complexity of separating the brand from the Zong family's operational control poses significant challenges for any prospective buyer, especially given the brand's tarnished reputation [10][19]. Group 4: Governance and Future Prospects - The governance structure requires unanimous consent from all shareholders for brand licensing, complicating any potential transition to new ownership [15]. - The current situation presents a challenging environment for any investor, with the risk of further brand devaluation and operational difficulties looming [17][20].

Group 1 - In September 2025, Greentown Group launched 14 self-invested projects with a total sales area of approximately 210,000 square meters and achieved sales of 1,966 units, amounting to approximately RMB 12.8 billion, with an average selling price of RMB 43,657 per square meter [3] - From January to September 2025, Greentown Group recorded a total contracted sales area of approximately 3.08 million square meters and a total sales amount of approximately RMB 107.9 billion, with equity attributable to Greentown Group amounting to approximately RMB 71.7 billion [3] - As of September 30, 2025, Greentown Group had a total contracted sales area of approximately 8.41 million square meters and a total contracted sales amount of approximately RMB 178.5 billion [3] Group 2 - On September 17, 2025, Greentown China successfully issued its seventh tranche of medium-term notes for 2025, with a total issuance size of RMB 1 billion and a coupon rate of 3.18% [3] - Greentown China has been recognized as a leading brand in customer satisfaction in the Chinese real estate industry for 14 consecutive years, ranking in the top three in brand value with RMB 117.6 billion [4] - Greentown China received multiple industry honors, including being listed among the top 10 real estate development companies by brand value and top 10 in delivery brand influence for the first half of 2025 [4]

Core Insights - Lao Feng Xiang, a century-old Chinese jewelry brand, has signed a strategic cooperation agreement with Maybach Luxury Goods Asia Pacific Ltd in Shanghai, marking a significant milestone in its brand development and market expansion efforts [1][3] - Lao Feng Xiang has been included in the "Apparel 50 2025" list published by Brand Finance, ranking 38th, which reflects a rise of five positions from the previous year [6][8] - The partnership aims to enhance brand promotion, expand into the Asia-Pacific market, and improve global positioning, showcasing a commitment to integrating Eastern and Western craftsmanship [3][6] Brand Value Rankings - Chanel has surpassed Louis Vuitton to become the most valuable apparel brand globally, according to the latest Brand Finance report [4][5] - Other notable brands in the top rankings include Nike, Hermès, and Rolex, with Lao Feng Xiang being the only mainland Chinese jewelry brand on the list [5][6] - The inclusion of Chinese brands like Anta, Bosideng, and Chow Tai Fook in the rankings highlights the transformation and cultural confidence within China's manufacturing sector [8]

Core Insights - The "Guangdong-Hong Kong-Macao Greater Bay Area Blue Book: Construction Report (2025)" indicates that the economic total of the Greater Bay Area will reach 14.79 trillion yuan in 2024, surpassing New York and San Francisco, and ranking alongside the Tokyo Bay Area globally [1] - The report highlights the steady economic growth of the Greater Bay Area, evidenced by the brand value of listed companies [1] Company Insights - In 2025, the Greater Bay Area will have 589 companies listed in the "Top 3000 Chinese Listed Companies by Brand Value," with a total brand value of 80,355.99 billion yuan [2] - Tencent Holdings leads the brand value rankings with 26,823.97 billion yuan, exceeding the combined brand value of the other nine companies in the top ten [2][3] - Other notable companies in the top ten include Midea Group, BYD, and China Ping An, each with brand values exceeding 3,000 billion yuan [2][3] Industry Insights - The internet industry dominates the brand value landscape in the Greater Bay Area, with a total brand value of 27,151.02 billion yuan, significantly higher than other industries [6][8] - The home appliance industry ranks second, with a brand value increase of 1,661.24 billion yuan in 2025 [6][8] - The real estate industry has seen a decline in brand value, dropping over 2,000 billion yuan in the past four years [6][8] - The automotive industry, led by companies like BYD, has experienced a brand value increase of over 2,000 billion yuan [6][8] City Insights - Shenzhen has the highest number of listed companies and total brand value in the Greater Bay Area, with a notable increase of 26 companies and a brand value growth of 11,752.39 billion yuan from 2022 to 2025 [4][5] - In contrast, Guangzhou has seen a decrease in the number of listed companies over the past four years, with a total brand value growth of only 308.24 billion yuan [6] - The key factors supporting Shenzhen's leading position include a concentration of high-tech industries, a favorable business environment, and strong recognition from talent and capital [6]

文｜朱浪 名门之秀五粮春，再次荣登权威品牌百强榜单。 近日，2025（第31届）中国品牌价值100强研究报告重磅发布，五粮春以276.06亿元的品牌价值位列榜单第31位，品牌价值连续8年攀升。 30年前五粮春问世，始终坚持以消费者为中心进行品牌建设工作，持续聚焦进行IP打造和品牌创新，践行长期主义，多次荣登品牌百强榜单，赢得 行业和专业机构高度认可。 伴随品牌价值的不断累积，五粮春品牌渗透力将进一步提升，消费者文化和情感认可也会更加凸显，产品市场动销有望进一步提速。 获权威机构评定 品牌价值连续攀升 1994年，中国品牌价值100强研究报告创立，历经31年，已经发展为品牌价值比较领域的专业榜单。 该榜单以跟踪时间长、专业、权威著称，专业团队通过独立研究、独立发布，让消费者及海内外各界了解中国品牌，也展现出消费趋势的新变化。 2018年，五粮春上榜中国品牌价值报告榜单百强，品牌价值为165.67亿元，当年排名第38位。2025年榜单显示，五粮春品牌价值跃升至276.06亿元（名列 榜单第31位），相较去年增长13.18亿元，连续8年保持增长。 此次五粮春再度上榜，表明其品牌内涵不断获得社会各界和专业机构认可，品 ...

欣逢国庆华诞、中秋月圆，双节同辉之际，临沂再传喜报！2025年9月29日，在沂河宾馆隆重举行的"2025临沂市企业品牌价值评价信息发布会"上，山东 温和酒业集团以品牌价值57.28亿元的卓越实力闪耀亮相，为佳节献上了一份厚礼，更为鲁酒振兴添上了浓墨重彩的一笔！ | 发布 | | --- | | 山东盛阳集团有限公司 山东温和酒业有限公司 山东锣响汽车制造有限公司 | | 施可丰化工股份有限公司 青援食品有限公司 山东华盛中天机械集团股份有限公司 | | 团有限公司 山东关化新创源科技股份有 公司 国东景观 瑞集团 演 香港企业集团有限公司 | 韩东董事长在致辞中同时对温和酒业品牌塑造工作做了精彩分享。特别强调品牌价值的高度源自于企业对品质初心的坚守与文化底蕴的传承，定位为临沂 人民的口粮酒。温和酒业不仅拥有逾七百年的酿造技艺积淀、更凭借"老五甑纯粮酿造工艺"入选省级非物质文化遗产，被评定为中国纯粮固态发酵白酒标 志企业。 此外，企业建立了严格的全流程质量管控体系，组建了由国家级品酒师、酿酒师构成的专业团队。其核心产品"温河大王"先后荣获布鲁塞尔国际烈性酒大 赛金奖、齐鲁白酒酒体设计金奖等权威奖项。同时建设了高 ...

Investment Rating - The report maintains a "Buy" rating for key companies in the sportswear sector, including Anta Sports, Li Ning, and Xtep International, indicating a positive outlook for their long-term growth potential [4][8]. Core Insights - The sportswear industry is experiencing resilience in demand despite economic fluctuations, driven by increased health awareness and government policies promoting sports participation [1][13]. - In the U.S. and Japan, the growth of the sports industry is attributed to historical factors, including economic recovery, government support, and major sporting events like the Olympics [1][20]. - In China, the running and outdoor segments are key growth drivers, with a projected compound annual growth rate (CAGR) of 16% for high-performance outdoor apparel from 2024 to 2029 [3][30]. Summary by Sections Industry Analysis - The U.S. fitness club membership increased by 3.7% to 68.9 million in 2022, and outdoor activity participation among Americans aged 6 and above grew by 4.1% in 2023 [1][19]. - Japan's sports consumption has been steadily increasing, supported by economic recovery and the Tokyo Olympics, with a focus on low-barrier sports like running and fitness [20][25]. Competitive Factors - Product strength and brand value are critical for leading international sports brands like Nike and Adidas, which focus on product development and brand building [2][32]. - Domestic brands in China, such as Anta and Li Ning, are enhancing their product innovation and brand image through sponsorships and professional athlete endorsements [3][37]. Investment Recommendations - The report highlights Anta Sports as a key player with strong operational capabilities and a projected price-to-earnings (PE) ratio of 18 times for 2025 [4][8]. - Li Ning is recommended for its long-term earnings potential, with a PE ratio of 17 times for 2025, while Xtep International is noted for its stable performance and growth prospects in the running segment, with a PE ratio of 11 times for 2025 [4][8].

31年来，五粮液品牌价值在白酒行业一直排在第一位。研究认为，品牌价值不是比谁的产品卖价高，利 润高，而是产品市场覆盖率高，人们重复消费的频率高。如果仅仅是卖价高，但是由于种种原因而产量 受局限，市场假冒很难免。品牌的名称也很重要，酒类产品过去常常以地名作为品牌，如法国"香槟"因 为突出的是产地，其品牌发展因此受限。五粮液的名称很符合酒的特质，而且有着丰富的产品线，如五 粮春、五粮醇等不同产品档次和清晰的价位区分，能够覆盖更多不同需求的消费群体，因而具有更大的 发展空间。 2025（第31届）中国品牌价值100强研究报告日前揭晓，海尔品牌价值5152.76亿，连续24年居首，其后 是阿里巴巴4662.83亿、五粮液4298.16亿、腾讯2687.65亿、茅台1856.86亿、美的1764.76亿、联想 1635.67亿、TCL1438.58亿。 该研究始于1994年，是国内最早也是持续时间最长的关于品牌价值比较的专业研究。该研究在国内最先 提出"品牌是最有价值的资产"，目的是推进中国企业创建自主品牌，由北京名牌资产评估有限公司连续 31年跟踪进行。 今年的研究重点，继续关注2020年新冠疫情5年来对品牌发展的影 ...

9月24日，世界品牌实验室(World Brand Lab)在中国香港发布了2025年(第二十届)《亚洲品牌500强》年 度报告。五粮液位列榜单第29名，排名较去年上升1位，连续20届入选《亚洲品牌500强》榜单，并上 榜"国民最喜爱的10大品牌"，彰显出强劲的品牌影响力。 kiE明:五粮液(四川省官宾五粮 有效期至:2026年9月23日 DATE OF EXPIRY: 23 SEP 2026 发证日期:2025年9月24日 DATE OF ISSUE: 24 SEP 2025 业并购过程中无形资产评估的重要依据。 此次《亚洲品牌500强》共有20个国家和地区的品牌入选，中国（包含港澳台）入选的品牌共计217个， 占整个亚洲品牌500强的43.40%，位居第一。年度报告显示，中国大陆消费者对本土品牌的热度持续走 高，由十多年前的36%增长至71%。食品饮料行业共41个品牌入选，五粮液位列食品饮料行业第二名， 具有较大世界影响力。 《亚洲品牌500强》是以品牌的亚洲影响力为评判标准的榜单，基本评价指标包括市场占有率、品牌忠 诚度和亚洲领导力三方面。今年，五粮液在品牌影响力、品牌忠诚度、亚洲领导力3个维度的得分均 ...

Core Insights - The World Brand Lab released the 2025 "Asia's 500 Most Valuable Brands" report, with Wuliangye ranked 29th, marking a rise of one position from the previous year, and it has been included in the list for 20 consecutive years [1][3] - Wuliangye was also recognized as one of the "Top 10 Most Beloved Brands" in the report, highlighting its strong brand influence [1] Group 1: Brand Rankings and Performance - The report included brands from 20 countries and regions, with 217 brands from China (including Hong Kong, Macau, and Taiwan), accounting for 43.40% of the total, the highest among all regions [3] - Wuliangye ranked second in the food and beverage sector, demonstrating significant global influence [3] - The evaluation criteria for the rankings included market share, brand loyalty, and Asian leadership, with Wuliangye achieving full scores of 5 in all three dimensions, being the only liquor brand to receive full marks in Asian leadership [3] Group 2: Brand Value and Recognition - Wuliangye ranked second in the "Brand Finance Global 50 Most Valuable Spirits Brands" list, maintaining the highest AAA+ rating, with a ten-year compound growth rate leading among global liquor brands [5] - It has been included in the "World's 500 Most Valuable Brands" list for eight consecutive years, now ranked 219th, an increase of eight positions year-on-year, the highest growth in the liquor industry [5] - With a brand value of 487.657 billion yuan, Wuliangye ranked 15th in the "China's 500 Most Valuable Brands" list, achieving positive brand value growth for eight consecutive years and recognized as the "Best Performing Brand of the Year" [5] Group 3: Cultural and Global Engagement - Wuliangye has actively participated in high-profile platforms such as the Boao Forum for Asia, APEC, and the China International Import Expo, showcasing China's national brand and cultural confidence [4] - The company aims to promote traditional Chinese culture, particularly through liquor, to the world, facilitating cultural exchange and mutual understanding [4] - Wuliangye plans to continue enhancing its brand construction and value, aiming to become a world-class brand while deepening its "Harmony" culture [5]