2025.10.16 本文字数：1300，阅读时长大约2.5分钟 作者 |第一财经 揭书宜 近日，有消费者在社交平台表示，最近去西贝，发现石景山万达这家，餐厅logo从之前的红白配色换成 了白绿配色，"西贝莜面村"改成了"西贝 我从草原来"。 有消费者向第一财经记者表示，来到石景山万达西贝门店，发现确实如此，曾经鲜明的红色logo已不复 存在，取而代之的是以白色和绿色为主色调的logo。 第一财经记者致电该门店，工作人员表示，"我从草原来"只是广告语而已，不是把logo换成新的，logo 还是西贝。现在logo是白色的，广告语是绿色的。 西贝官网显示，今年年初其曾进行logo焕新升级，"西贝莜面村"升级为"西贝XIBEI"，红白配色不变。 天眼查APP显示，北京西贝餐饮管理有限公司曾注册"天上的草原"商标。 对于本次门店门头的变更，第一财经记者采访了西贝集团相关负责人，截至发稿暂无更多消息。 广东省食品安全保障促进会副会长朱丹蓬告诉第一财经记者，消费者对于西贝的愤怒和"抛弃"，并不是 因为logo，也不是品牌名。更多的是基于定位比较高的前提下，中国的消费者还是比较相信西贝的食 材、出品，而当预制菜的风波出现了 ...

第一财经记者致电该门店，工作人员表示，"我从草原来"只是广告语而已，不是把logo换成新的，logo还是西贝。现在 logo是白色的，广告语是绿色的。 西贝官网显示，今年年初其曾进行logo焕新升级，"西贝莜面村"升级为"西贝XIBEI"，红白配色不变。天眼查APP显示， 北京西贝餐饮管理有限公司曾注册"天上的草原"商标。 对于本次门店门头的变更，第一财经记者采访了西贝集团相关负责人，截至发稿暂无更多消息。 广东省食品安全保障促进会副会长朱丹蓬告诉第一财经记者，消费者对于西贝的愤怒和"抛弃"，并不是因为logo，也不是 品牌名。更多的是基于定位比较高的前提下，中国的消费者还是比较相信西贝的食材、出品，而当预制菜的风波出现了 之后，铁粉应该是感受到被欺骗，这种感觉对于一个品牌的伤害是最大的。 除了更新了石景山万达店的门头，西贝最近频繁发放优惠券。 近日，有消费者在社交平台表示，最近去西贝，发现石景山万达这家，餐厅logo从之前的红白配色换成了白绿配色，"西 贝莜面村"改成了"西贝 我从草原来"。 有消费者向第一财经记者表示，来到石景山万达西贝门店，发现确实如此，曾经鲜明的红色logo已不复存在，取而代之的 是以 ...

Summary of Bawang Chaji Conference Call Company Overview - **Company**: Bawang Chaji - **Industry**: Tea Beverage Industry Key Points Financial Performance - Bawang Chaji's single-store model is robust, with annual revenue exceeding 5 million yuan, demonstrating significant operational efficiency [2][3] - In Q1, the average monthly sales per store were approximately 430,000 yuan, showing a slight year-on-year decline, but improvements were noted in May with new product launches [2][6] - The company anticipates revenue growth of 10%-20% in the future [2][3] Market Position and Competition - Bawang Chaji holds a competitive edge in the tea beverage market, particularly in the price segment above 10 yuan, where it competes strongly with brands like Gu Ming and Mi Xue Bing Cheng [4] - The company has a projected profit of approximately 2.5 billion yuan for 2024, ranking second in the new-style tea beverage sector [4][23] - The brand's high repurchase rate and strong brand value are validated by its leading Baidu search index compared to competitors [2][8] Expansion Plans - The company plans to slow down domestic store openings, focusing on refined management and profitability for franchisees, with a target of 1,000 new stores in 2025 [10][31] - Bawang Chaji is expanding internationally, with Singapore stores achieving over 20% operating profit margins and plans to enter multiple Southeast Asian countries and California in the U.S. [13][31] Product Innovation and Marketing - New product launches, including collaborations with celebrities, are expected to drive sales and potentially act as catalysts for stock price increases [7][9] - The company emphasizes brand building over traditional marketing, focusing on product series expansion and maintaining a strong brand presence [9][19] Operational Efficiency - Bawang Chaji has streamlined its supply chain, achieving over 90% sales concentration on its main product, "Tea Latte," and reducing raw material costs from 59% in 2022 to 49% in 2024 [20] - The company utilizes automation and digital tools to enhance operational efficiency, with top-performing stores achieving daily sales of 1,300 cups [20] Future Growth Projections - Revenue is expected to grow by 24% in 2025 and 20% in 2026, reaching 15.3 billion yuan and 19 billion yuan, respectively [33] - The company anticipates a net profit of 2.91 billion yuan in 2025 and 3.51 billion yuan in 2026, with adjusted net profit margins potentially declining due to increased investments [35] Risks - Bawang Chaji faces risks including changing consumer preferences, intensified market competition, underperformance in overseas markets, and food safety concerns [37] Valuation - The company is valued at a target price of $41.5, based on a projected P/E ratio of 19 for 2025, reflecting its position in the premium tea beverage market and growth potential in international markets [36]