"Z世代"消费群体的崛起，电商渠道、高端会员店渠道和零食量贩渠道成为品牌新增量的重要来源。上半年，洽 洽电商业务营收为4.51亿元，同比增长24.79%。公司通过渠道数字化平台已掌控终端网点56万家。与此同时，国 际市场也成为洽洽食品的重要增长点，上半年海外收入同比增长13.18%，产品目前已覆盖亚洲、欧洲、美洲等 近70个国家和地区。 休闲食品正朝着出个性化、定制化、多样化方向发展，对企业创新能力以及供应链效率提出更高要求。在业内 看来，洽洽食品通过持续加大品牌投入和建设，抢占消费分层带来的结构性机遇。未来，随着供应链管理水平 的不断提升以及海外市场的持续突破，有望打开新的增长空间。 全渠道转型 电商业务双位数增长 在休闲食品市场逐渐饱和、竞争日趋激烈、同质化严重的行业背景下，行业加速向全渠道转型。 2025年上半年，洽洽食品实现营收27.52亿元，归母净利润为0.89亿元。从具体产品来看，葵花子产品收入17.72 亿元，占比总营收的64.39%，依旧是洽洽食品的第一大收入来源；坚果类产品收入6.14亿元，占总收入 22.32%。 随着全球化布局提速，休闲食品行业正迎来新的增长势头。8月21日晚间，洽洽食品 ...

Core Insights - The Chinese market has become increasingly attractive for international brands due to rising consumer demand and digital economic opportunities [1][4] - IKEA has partnered with JD.com to enhance its omnichannel strategy in China, launching an official flagship store on JD that offers over 6,500 products across various categories [1][4] - The collaboration is seen as a response to the competitive home furnishings market, with IKEA implementing price reductions on over 300 products to attract consumers [5][7] Market Dynamics - The number of new foreign-invested enterprises in China increased by 10.4% year-on-year from January to May, indicating a growing interest from international brands [1] - Chinese consumers are becoming more discerning, leading international brands to adapt their strategies to be more localized and service-oriented [4][5] - The home furnishings market is expected to continue evolving, driven by urbanization, diverse consumer needs, and the digitalization of shopping experiences [6][7] Digital Integration - The partnership with JD.com allows IKEA to leverage JD's advanced logistics and digital marketing capabilities, enhancing the customer experience [10][11] - JD's unique business capabilities, including full-channel marketing and innovative technologies like AIGC, provide IKEA with a competitive edge in reaching consumers [11][13] - The collaboration aims to address common online shopping concerns such as product quality and delivery efficiency, offering services like same-day delivery and comprehensive after-sales support [13][14] Consumer Trends - The shift in consumer demographics, particularly the rise of younger consumers, is driving demand for personalized and high-quality home furnishings [7][10] - The integration of online and offline shopping experiences is becoming essential for brands, with consumers seeking both convenience and tangible product experiences [15][17] - JD's extensive network of offline stores complements its online presence, providing a comprehensive shopping experience for consumers [15][17] Strategic Implications - The partnership between IKEA and JD.com represents a significant move towards the deep integration of international brands into the Chinese market, combining global design standards with local operational capabilities [17][18] - As more international home brands join JD's ecosystem, consumers can expect a richer and more convenient shopping experience, positioning JD as a key player in the market [18]