值得一提的是，去年以来，胖东来、东方甄选、元气森林等品牌相继入局包装饮用水领域，进一步瓜分了传统水企的市场份额。 2025年，包装饮用水市场的价格战声势渐弱，但行业的竞争程度有增无减，各大水饮企业也将发力重点放在了饮料品类战场，试图找到更多的增长曲线。 便利店货架上的饮用水。时代财经摄。 2025年，包装饮用水赛道仍暗潮涌动。 近日，两大饮用水企业龙头农夫山泉和华润饮料相继发布2025年中期业绩。期内，农夫山泉（09633.HK）收入256.22亿元，同比增长15.6%，毛利154.56 亿元，毛利率达到60.32%；净利润约为76.22亿元，同比增长22.1%，净利率逼近30%。 其中，饮用水业务收入虽重回增长轨道，但受近两年"价格战"影响，该分部收入规模和盈利能力均未达到2023年同期水平。截至8月29日收盘，农夫山泉 股价报收49.98港元/股，总市值超5500亿港元，年内累计升幅超50% 怡宝母公司华润饮料（02460.HK）上半年实现收入62.06亿元，期内利润8.23亿元，分别同比下降18.5%和28.7%。此外，华润饮料各种规格的饮用水产品 收入均录得下滑。 在"二代"接班人宗馥莉的渠道策略推动 ...

Group 1 - The core point of the news is the partnership between Li Ning and the Chinese Olympic Committee, where Li Ning will serve as the sportswear partner for the Chinese sports delegation from 2025 to 2028, including events like the Los Angeles 2028 Olympics [2][4] - The cooperation agreement is valued at 800 million yuan, which represents a nearly 33% increase compared to the previous cycle, indicating intense competition among sports brands for this scarce resource [4] - Li Ning aims to enhance its brand strategy and deepen its multi-category layout through this partnership, emphasizing its commitment to technological innovation and high-quality sports equipment for top athletes and sports teams [5][4] Group 2 - The signing ceremony was brief, lasting only 25 minutes, and featured several Olympic champions, showcasing Li Ning's strong association with elite athletes [7] - Li Ning's founder, who won multiple medals at the 1984 Los Angeles Olympics, expressed that becoming the sportswear partner is both an honor and a responsibility, highlighting the brand's dedication to supporting the Chinese Olympic Committee and athletes [5][2] - The partnership is seen as a continuation of Li Ning's historical involvement with the Chinese Olympic Committee, having previously been a partner from 1992 to 2004, thus reinforcing its legacy in Chinese sports [4][2]