每经记者｜范芊芊 每经编辑｜张海妮 当地时间7月22日，可口可乐发布了2025财年第二季度财报。在本财季，可口可乐的营收为125.35亿美 元，同比增长1%，净利润为38.03亿美元，同比增长58%。 净利润的大幅增长或源于提价和产品组合的调整。根据财报，2025财年第二季度，可口可乐全球销量同 比下滑1%，但价格/产品组合同比增长6%。其中，中国市场销量则实现了增长。在财报会上，可口可乐 公司董事会主席兼首席执行官詹鲲杰表示，中国市场、旗舰品牌可口可乐和餐饮渠道的强劲表现推动了 整体销量增长。 在财报会上，另一备受关注的话题是可口可乐的蔗糖饮品。"今年秋季在美国市场，我们将推出一款使 用美国蔗糖制成的产品，以扩大旗舰品牌可口可乐的范围，满足消费者对差异化口味的需求。"在财报 会上，詹鲲杰这样表态。他还表示："实际上，从柠檬水到茶饮、部分咖啡饮品以及维生素水系列，我 们美国产品线中的多个品牌都在使用蔗糖。我们正在全面探索各类可用的甜味剂方案，根据消费者的偏 好进行灵活调配。" 在财报会上，詹鲲杰还提到了咖啡这一品类。在他看来，在整个饮料行业中，咖啡是一个规模庞大、市 场分散且持续增长的品类。他也坦言，从投资策 ...

Core Viewpoint - The company reported a slight increase in revenue for Q1 2025, but a decline in net profit, indicating mixed performance amidst rising costs and increased expenses [1][2]. Financial Performance - Q1 2025 revenue reached 280 million, a year-on-year increase of 1.1%, reversing the previous quarter's decline of 0.4% [1]. - The gross margin improved both year-on-year by 1.4 percentage points to 45.9% and quarter-on-quarter by 7.5 percentage points [1]. - The net profit attributable to shareholders was 48 million, a year-on-year decrease of 4.8%, while the non-recurring net profit was 47 million, down 5.0% year-on-year [1]. - The company's net profit margin and non-recurring net profit margin both decreased by 1.1 percentage points to 17.5% and 17.1%, respectively [1]. Outlook for 2025 - The company plans to focus on promoting new products such as garlic sauce and zero-fat spicy sauce, with an emphasis on e-commerce channels and existing pharmacy systems [2]. - The company aims to deepen market penetration in the regions of its 61 sales offices and enhance the offline customer experience to boost sales [2]. - Despite rising raw material costs, the company anticipates an overall improvement in gross margin for 2025 compared to 2024, driven by price adjustments and a slight increase in mushroom prices [2]. - Revenue projections for 2025-2027 are 1.14 billion, 1.23 billion, and 1.32 billion, reflecting year-on-year growth rates of 4.0%, 7.6%, and 7.7%, respectively [2]. - Expected net profits for the same period are 190 million, 210 million, and 230 million, with year-on-year growth rates of 9.7%, 7.4%, and 9.4% [2].