Core Viewpoint - The company is undergoing a significant transformation from a nut-focused business to a comprehensive consumer goods retailer, with ambitious plans for future growth and diversification [1][2][3]. Group 1: Strategic Direction - The company aims to build a "super supply chain system" and a "full-category, all-channel" business model, moving away from its previous "OEM" label to become a "manufacturing retail brand" [2][5]. - The company has set clear sales targets for various product categories by 2025, including 250 million yuan for convenience food, 100 million yuan for alcoholic beverages, and 50 million yuan for coffee [4][5]. Group 2: Financial Performance - In 2024, the company achieved a revenue of 10.622 billion yuan, representing a year-on-year growth of 49.3%, and a net profit of 408 million yuan, up 85.5%, successfully reaching its goal of "returning to 10 billion" [3][4]. Group 3: Product and Market Expansion - The company has launched over 1,000 new SKUs in the snack category in 2024 and is expanding into various sectors, including ready-to-eat meals, beverages, and personal care products [4][6]. - The company is focusing on building a distribution network in the vast county market, emphasizing the importance of small retail outlets in reaching consumers [5][6]. Group 4: Supply Chain Development - The company plans to use IPO proceeds to strengthen its supply chain by establishing new processing plants across various regions in China and setting up a factory in Vietnam to achieve economies of scale [6][7]. - The company is pursuing investment partnerships to enhance supply capabilities, aiming to improve product quality and reduce costs through collaborative efforts [6][7].

证券研究报告 | 行业专题研究 gszqdatemark 2025 05 20 年 月 日 纺织服饰 新消费趋势下，如何寻找服饰板块投资机会？ 新的消费市场偏好和逻辑：实用主义和"悦己"。1）国内消费力增长有限，同时消费者对传 统营销与大众品牌逐渐祛魅，决策选择更加理性，带来"实用主义"的盛行。2）年轻群体出 于悦己需求，偏好体验式互动式消费，热爱个性化、多元化品类，同时追求舒适性与自然。 服饰珠宝赛道新趋势明显，户外/古法金等品类盛行，新渠道业态产生。1）产品端：多样化 需求得以体现。①在服装板块，居民对户外运动以及跑步参与度不断提升，相关鞋服产品消 费规模扩张。同时以马面裙、洞洞鞋为代表的细分品类在年轻消费者"悦己"、"实用主义" 消费观念下，市场规模也处于扩张过程，2024Q4 洞洞鞋头部公司 crocs 在中国市场的营收 同比增长 64%。②在珠宝板块，古法金需求火热，中国古法黄金珠宝市场规模从 2018 年的 130 亿元增长至 2023 年的 1573 亿元，中长期我们认为随着年轻消费群体成为主流，同时 古法金饰品设计优异，市场规模有望保持快速增长态势。2）渠道端：全渠道融合加速、体验 升级。线上 ...

近日，潮宏基（股票代码：002345）股价在5月20日早间迅速攀升至涨停板，收盘价达到每股11.28元，日涨幅高达10.05%。 值得注意的是，潮宏基在近三个交易日内股价涨幅偏离值累计已超过20%，根据深圳证券交易所的相关规定，这一现象被视为股票交易异常波动。 针对股价的异常波动，潮宏基在5月20日晚间发布了股价异动公告。公告中透露，为了深化公司的全球化布局、提升国际品牌形象以及加强与境外资本市 场的联系，潮宏基正在积极筹划在香港联合交易所发行H股并上市。目前，公司正与相关中介机构就H股上市的具体细节进行商讨，但相关方案尚未最终 确定。潮宏基强调，此次H股上市并不会改变公司的控股股东和实际控制人。 根据相关法律法规，潮宏基在确定了具体方案后，还需将H股上市计划提交公司董事会和股东会审议，并需经过中国证券监督管理委员会备案以及香港联 交所等监管机构的审核。公告提醒投资者，此次H股上市能否顺利通过审议、备案和审核程序并最终实施，存在重大不确定性。 潮宏基还表示，除正在筹划的H股上市事项外，公司、控股股东和实际控制人不存在其他应披露而未披露或处于筹划阶段的重大事项。 潮宏基强调，在推进H股上市的过程中，公司将充分考 ...

丨证券研究报告丨 公司研究丨点评报告丨菜百股份（605599.SH） [Table_Title] 菜百股份 2024 年报和 2025 年一季报点评：全 直营稳健经营，Q1 业绩表现优异 报告要点 [Table_Summary] 公司 2024 年营收 202.3 亿元，同比增长 22.2%，归母净利润 7.2 亿元，同比增长 1.7%；2025Q1 收入 82.2 亿元，同比增长 30.2%，归母净利润 3.2 亿元，同比增长 17.3%，扣非归母净利润 2.8 亿元，同比增长 9.9%。 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 分析师及联系人 [Table_Author] SAC：S0490514080004 SAC：S0490520080019 SFC：BUV258 李锦 罗祎 张彦淳 1 菜百股份（605599.SH） cjzqdt11111 [Table_Title 菜百股份 2024 2] 年报和 2025 年一季报点评：全 直营稳健经营，Q1 业绩表现优异 [Table_Summary2] 事件描述 公司 2024 年营收 202.3 亿元，同 ...

一、心享电商：全域运营领航者 在抖音电商日活突破 9 亿、GMV 预计突破 8 万亿的 2025 年，抖店代运营行业已从流量红利期迈入精细化运营时代。为帮助品牌高效布局抖音生态，本文 综合服务案例、技术实力及行业口碑，评选出 2025 年抖店代运营十大服务商，心享电商凭借全域运营能力和创新模式荣登榜首，灵析电商凭借全域数智化 创新位列第二。 作为连续三年登顶的行业龙头，心享电商以 "数据中台 + 创意内容" 双驱动模式构建核心壁垒。其自主研发的 AI 智能分析系统可实时追踪抖音流量趋势、 竞品动态及用户行为，精准制定店铺定位、爆品打造及活动策略。核心团队来自阿里、字节跳动等头部企业，深谙抖音算法逻辑与用户心理，擅长通过 "短 视频引流 + 直播转化 + 私域沉淀" 全链路打法实现品牌长效增长。 核心优势如下： 全域流量整合 ：打通抖音、淘宝、拼多多等多平台资源，构建 "搜索 + 推荐 + 私域" 流量闭环。例如，为某家居品牌定制的 "场景化短视频 + 直播秒杀" 策 略，单月 GMV 突破 5000 万，自然流量占比提升至 40%。数据驱动决策 ：AI 智能选品系统通过分析千万级用户行为数据，预测爆款成功率超 ...

Core Viewpoint - The 618 shopping festival has evolved beyond mere price wars among e-commerce platforms, becoming a significant battleground for online retail, particularly in the 3C and daily necessities sectors, with a clearer understanding of the retail industry's "walls" and "moats" [1] Group 1: Expansion and Strategy - JD.com is aggressively expanding its offline presence with self-operated stores in first-tier and new first-tier cities, and is entering the restaurant sector with the launch of its "Qixian Meishi MALL" brand [1][4] - The company reported a daily order volume of over 20 million for its food delivery service, indicating strong competitive capabilities and synergy with its core e-commerce and logistics operations [2][4] - JD.com plans to invest over 6.5 billion in its "old for new" appliance replacement service, having already recycled over 20 million old appliances [5][6] Group 2: Financial Performance - JD.com's Q1 2025 financial report showed a revenue increase of 15.8% year-on-year to 301.1 billion, with core categories like 3C and daily necessities achieving double-digit growth [5][6] - The active user base grew by 20% year-on-year, with JD Retail's revenue reaching 263.8 billion, a 16% increase, and operating profit rising by 38% [5] Group 3: Marketing and Promotions - During the 618 festival, JD.com is offering substantial discounts, with consumers able to save up to 2,000 yuan on select products, alongside various promotional coupons [6][10] - The "京喜" (Jingxi) platform is playing a crucial role in JD's low-price strategy, extending its reach to factory sources and optimizing supply chain costs [10][11] Group 4: Future Plans - JD.com aims to open 27 additional JD MALL stores by the end of 2025, enhancing its offline retail strategy to provide an exceptional customer experience [7][8] - The company is also focusing on integrating domestic and foreign trade opportunities through its Jingxi platform, which has rapidly covered 244 industrial belts and partnered with over a million merchants [11]

以下为业绩说明会问答实录： 1、问：报告期内公司经营活动现金流净额同比增长117.93%，主要得益于哪些业务环节的优化？未来 如何维持现金流健康增长？ 回答：尊敬的投资者您好，报告期内公司经营性现金流同比增长的原因主要得益于销售收入增长、成本 费用控制以及存货管理优化等方面。以上因素使得公司的经营性现金流得到改善和提升，未来我们将持 续优化上述方面，保持现金流健康增长，感谢您对公司的关注！ 2、问：请问，贵司如何看待线上和线下销售的平衡发展？ 回答：尊敬的投资者您好，随着Z世代成为消费主力，我司认为线上与线下渠道已进入深度融合阶段。 我们观察到消费者既依赖线上平台上完成产品浏览、比价和初步筛选，又注重线下门店的实物体验与产 品定制。因此，我们通过"线上精准引流+线下场景化体验"模式，实现全渠道协同：线上商城依托视 频、直播带货等数字化工具提升转化，线下门店则强化沉浸式购物场景与VIP服务，最终通过会员系统 打通消费数据闭环。这种全域零售策略既能满足新一代消费者"随时随地下单，按需到店体验"的混合需 求，也会为我们带来了跨渠道复购率提升，感谢您对公司的关注！ 2025年05月15日，曼卡龙2024年度暨2025 ...

2025年3月，宏香记获全球领先的新经济产业第三方数据挖掘和分析机构iiMedia Research（艾媒咨询） 授予的"高端肉脯连续3年全国销量第一""牛肉豆脯连续10年全国销量第一""中国牛肉豆脯开创者"三项 市场地位确认。 一方面，同质化竞争、价格战此起彼伏，新锐品牌不断涌入，传统厂牌也积极参与，竞争激烈程度与日 俱增；另一方面，消费者需求呈现出个性化、碎片化、颜值化且分层分级的特点。行业已从增量市场逐 步转向存量市场，"大行业、小企业"的特征显著，使得众多休闲零食企业面临巨大压力。 在休闲食品行业加速向存量竞争转型的当下，如何持续捕捉年轻消费者的需求脉搏，已成为品牌破局的 核心命题。作为行业老牌玩家，宏香记以差异化战略重构市场格局，展现出破局逻辑。 基于艾媒自主研发并获得省部级重大科技专项立项的CMDAS大数据系统监测及严格的调查，以及对中 国（不含港澳台）高端肉铺、牛肉豆脯市场研究比对的结果进行统计确认，宏香记荣获全球领先的新经 济产业第三方数据挖掘和分析机构iiMedia Research（艾媒咨询）授予的"高端肉脯连续3年全国销量第 一""牛肉豆脯连续10年全国销量第一""中国牛肉豆脯开创者"三 ...

a.k.a. Brands Holding (AKA) Q1 2025 Earnings Call May 13, 2025 04:30 PM ET Speaker0 Please note that this call is being recorded. I will now turn the conference over to our host, Emily Schwartz, Investor Relations. Thank you. You may begin. Speaker1 Good afternoon. Thank you for joining AK Brands to discuss our first twenty twenty five results released this afternoon, which can be found on our website at ir.akabrands.com. With me on the call today is Keiran Long, Chief Executive Officer and Kevin Grant, Chi ...

Core Insights - The Trade Desk (TTD) highlights the rapid rise of premium internet centered around Connected TV (CTV) globally, driven by increasing consumer demand for high-quality digital content [1] - TTD emphasizes that for Chinese brands, this trend offers a new opportunity to establish a trustworthy international brand image through immersive experiences on premium content platforms [1] - The global CTV advertising market is experiencing significant growth, with 41% of UK consumers subscribing to new streaming services last year and 44% of US consumers significantly increasing their streaming TV content consumption [1] Industry Trends - Advertisers are significantly increasing their investment in CTV advertising, with global CTV ad revenue projected to grow by 20% in 2024, reaching a record $35.2 billion, and expected to further increase to $46.3 billion by 2026 [2] - The shift in the advertising market necessitates brands to adopt more refined and coordinated strategies to stand out in a competitive landscape, aligning with consumer demand for seamless brand experiences [2] - Research indicates that a highly connected omnichannel strategy can enhance user attention by 1.4 times, emotional connection by 1.9 times, and significantly reduce cognitive fatigue by 2.2 times [2] Channel Strategies - Different channels play distinct roles in a coordinated omnichannel strategy, with CTV enhancing brand storytelling through immersive visual experiences, audio ads increasing attention in multitasking scenarios, and digital out-of-home (DOOH) ads capturing attention through strong visual impact [2] - The emotional connection effect of DOOH ads can increase by 5.3 times when used in conjunction with audio advertising [2]