Core Insights - Miaokelando has established itself as a leading player in the cheese industry in China, aiming to make cheese a staple in every household and targeting a vision of becoming a "leading and respected cheese enterprise" globally during the 14th Five-Year Plan [2][8] - The company has achieved significant market share, with over 38% in the packaged cheese segment and a strong focus on expanding its product offerings to cater to a wider age demographic [3][4] Company Performance - In the first three quarters of 2025, Miaokelando reported total revenue of 3.957 billion yuan, a year-on-year increase of 10.09%, and a net profit attributable to shareholders of 176 million yuan, up 106.88% [3] - The company has successfully transitioned from a focus on children's cheese products to a broader "national cheese" strategy, introducing various products for different consumer segments [4] Strategic Initiatives - The "Store Efficiency Doubling" strategy has been identified as a key initiative for the next three years, focusing on enhancing profitability through high-margin products and improving operational efficiency [5][6] - Miaokelando is committed to increasing the localization of its raw materials, with ongoing projects aimed at reducing reliance on foreign ingredients and enhancing cost control [7] Market Position and Future Plans - The cheese market in China is still in its early growth stage, with significant potential for expansion, as current deep-processed dairy products account for only 7.3% of the market [7] - The company plans to implement a dual strategy of "toB + toC" and pursue international expansion through acquisitions and product innovation, aiming to create several blockbuster products [8]

Core Insights - The article discusses the recent research conducted by QuanGuo Fund on the listed company MiaoKeLanDuo, highlighting its strategic focus on the "Store Efficiency Doubling" initiative as a long-term plan for the next three years [1][2]. Group 1: Company Strategy - The "Store Efficiency Doubling" strategy is identified as the company's top priority, aimed at transforming marketing and operations by focusing on consumer needs and enhancing resource allocation towards frontline operations [1][2]. - The company is implementing a triangular organizational model to shift from resource input to capability enhancement, which is expected to drive high-quality development [1][2]. Group 2: Business Performance - As of September 29, 2025, QuanGuo Fund's best-performing product, QuanGuo XuYuan Three-Year Holding Mixed A, achieved a return of 54.74% over the past year [2]. - The company has seen significant progress in both B-end and C-end business operations, with a focus on domestic raw material substitution and enhanced supply chain capabilities [3][4]. Group 3: Product Development and Market Expansion - The company is expanding its product offerings to cater to a broader demographic, including children, teenagers, and adults, by introducing new products like cheese balls and cheese snacks [7][12]. - The company aims to enhance its market position in the cheese segment by leveraging its strong R&D capabilities to customize products for various retail channels [4][9]. Group 4: Sales and Marketing Strategy - The sales team is structured to optimize collaboration with distributors and retailers, focusing on enhancing efficiency through a unified command system [6][8]. - The company is utilizing a dual-brand pricing strategy in the snack retail channel to increase product penetration and market share [4][10]. Group 5: Future Outlook - The company envisions becoming a leading cheese enterprise in China and a respected player globally, with a five-year plan that includes a dual-driven strategy focusing on both B-end and C-end markets [12][13]. - The company plans to enhance its supply chain capabilities and expand its market reach through strategic partnerships and product innovation [12][13].