证券日报网讯甘源食品（002991）10月29日发布公告，在公司回答调研者提问时表示，公司始终践行全 渠道发展战略，积极与各渠道开展密切合作。基于公司的产品创新研发与快速响应能力，我们积极与各 渠道共同探索多元化的产品合作机会。针对不同渠道的客群特质与场景需求，公司依托柔性的供应链体 系，为KA卖场、会员店、量贩系统、即时零售等量身定制差异化方案：从主打家庭消费的高性价比共 享装、满足年轻群体尝鲜需求的创新风味单品，到契合即时场景的小规格便携装，乃至与渠道联合研发 的专属口味产品，实现从"渠道定制"到"产品共创"的深度合作。未来公司产品的合作渠道及消费场景将 持续丰富，逐步将产品优势转化为渠道竞争力，提高渠道的认可度。 ...

证券代码：002991 证券简称：甘源食品 甘源食品股份有限公司 投资者关系活动记录表 编号：2025-006 答：公司稳健深耕海外业务，目前以东南亚地区为重点市场。前期我们已经积 累了宝贵的本地化运营经验，但也面临当地政策变化等挑战。目前公司正逐步 开拓印尼、泰国、马来西亚等新市场，深度本土化，针对当地口味偏好开发产 品。我们将以长期主义的耐心，建立本地团队、研发贴合本地需求的产品、融 入本地供应链，逐步在海外市场树立品牌，稳步推动海外业务的长期发展。 问：公司对于费用投入是如何计划的？ 答：报告期内，公司为支持新品投放与海外新市场拓展而策略性提升了销售费 用率。后续，公司将通过精细化预算管理，优化费用结构，将资源往优质渠道 与核心单品集中，减少低效投入，推动费用率稳步回落。 问：公司的产品力比较强，请问在渠道合作方面具备哪些优势？ 答：公司始终践行全渠道发展战略，积极与各渠道开展密切合作。基于公司的 产品创新研发与快速响应能力，我们积极与各渠道共同探索多元化的产品合作 机会。针对不同渠道的客群特质与场景需求，公司依托柔性的供应链体系，为 KA 卖场、会员店、量贩系统、即时零售等量身定制差异化方案：从主打家 ...

Core Viewpoint - JD.com has announced a collaboration with GAC Group and CATL to launch the "National Good Car," sparking speculation about JD.com's entry into car manufacturing, which the company quickly clarified it is not directly involved in manufacturing but focuses on consumer insights and exclusive sales [1][3]. Group 1: Collaboration Overview - The partnership is seen as a culmination of JD.com's ten-year strategy in the automotive sector, reflecting the ambition of internet platforms to reshape the traditional automotive industry [3]. - The collaboration involves three major players: JD.com (e-commerce), GAC Group (vehicle manufacturing), and CATL (battery technology), forming a notable "iron triangle" [4]. Group 2: Roles and Responsibilities - GAC Group is responsible for vehicle manufacturing, ensuring compliance with safety standards and providing a dedicated electric vehicle platform [5]. - CATL focuses on addressing "range anxiety" by supplying battery technology and supporting the battery swapping ecosystem [6]. - JD.com positions itself as an "ecosystem integrator," concentrating on user demand insights and sales channel operations, aiming to connect the entire production to service chain [6]. Group 3: Strategic Background - JD.com's interest in the automotive sector dates back to 2015 when founder Liu Qiangdong invested in NIO, leading to a systematic approach in the automotive industry, including launching a vehicle trading platform and establishing an independent automotive division [8]. - The company aims to redefine what consumers want in vehicles, leveraging user research to influence vehicle design and features [10]. Group 4: Advantages and Challenges - JD.com's strengths include vast consumer data and a comprehensive online sales network, with nearly 3,000 car service stores and over 40,000 partner stores nationwide [15]. - However, challenges exist in areas such as vehicle maintenance, test drive management, and after-sales service, where JD.com lacks experience [17][18]. Group 5: Business Model Comparison - JD.com adopts a different approach compared to other tech companies like Xiaomi and Huawei, focusing on an "ecosystem integration" model rather than direct manufacturing [20]. - This asset-light model may seem less risky but poses challenges in quality control and technological adaptation [21]. Group 6: Future Implications - The success of this collaboration will depend on various factors, including JD.com's ability to create a "car consumption ecosystem" that encompasses the entire customer journey from selection to after-sales service [23][24]. - If successful, JD.com could redefine the sales and service model in the automotive industry, making car buying as convenient as purchasing a smartphone [27].

Core Viewpoint - The live streaming industry is experiencing significant changes as consumer demands and perceptions evolve, leading to a more rational approach to purchasing decisions, emphasizing product quality, performance, and price balance [1][4][5]. Group 1: Consumer Behavior Changes - Consumers are becoming more rational and price-sensitive, focusing on product quality and practicality rather than impulsive buying [1][3]. - The age group of 31-40 years constitutes 55.14% of live streaming platform users, indicating that family-oriented consumers are a key audience [3]. - The majority of users on live streaming platforms have a monthly income between 5,000 to 15,000 yuan, with 30.43% earning between 10,000 to 15,000 yuan, suggesting that economic conditions significantly influence their purchasing behavior [3]. Group 2: Quality Expectations - Consumers are increasingly demanding higher quality products in live streaming, leading brands to collaborate with manufacturers to develop proprietary products [4][5]. - The focus has shifted from merely seeking low prices to considering a balance of quality, performance, and price in purchasing decisions [4][5]. Group 3: Impact of Information Transparency - The diversification and transparency of information sources empower consumers to make more informed decisions, as they can access product reviews and feedback from various platforms [9]. - The upcoming implementation of the "Live E-commerce Supervision Management Measures" in 2025 aims to clarify responsibilities within the live streaming ecosystem, enhancing consumer trust [9]. Group 4: Role of Social Media and Word-of-Mouth - Social media and word-of-mouth are becoming increasingly influential in consumer purchasing decisions, with the "grass planting economy" thriving as consumers share experiences and recommendations [10][11]. - Brands are shifting towards "grass planting marketing," collaborating with KOLs and KOCs to showcase product advantages and create emotional connections with consumers [11]. Group 5: Consumer Participation in Product Development - Consumers are becoming key players in product co-creation, with live streaming platforms facilitating real-time communication between brands and consumers [12][13]. - Brands that actively engage with consumers and incorporate their feedback into product development can enhance loyalty and market competitiveness [12][13].