香港饮料老字号维他奶，仍未能扭转业绩颓势。 近年来，维他奶内地业务负责人几经更迭。2021年，中国内地行政总裁钟廷毅离职后，该职位由曾任职 于雀巢徐福记、玛氏等企业的苏强接任。此后，苏强离任，内地业务改由维他奶行政总裁陆博涛暂代。 直至2024年4月，内地业务掌舵人才由曾在宝洁、百事等公司担任高管的王栋接任。 11月25日，维他奶国际（00345.HK）披露2026财年上半年业绩。截至2025年9月31日的6个月，集团收 入为32.27亿港元，同比下降6%；公司经营溢利为2.47亿港元，同比下降4%；公司股东应占溢利1.72亿 港元，同比增长1%。 维他奶的收入来源为制造及销售食品及饮品，豆奶与柠檬茶是其旗下核心产品。目前，中国内地与中国 香港两大市场贡献了维他奶近9成的收入，其中，中国内地收入占比超过50%。 2026财年上半年，维他奶在中国内地市场收入为17.78亿港元，同比下滑9%，成为公司整体收入下滑的 主因。受中国内地产品售价下降等因素影响，维他奶的毛利率也由去年同期的51.6%微降至51.1%。 维他奶在中国内地市场的销售疲软并非短期现象。2023财年上半年至2025财年上半年，维他奶中国内地 收 ...

Core Viewpoint - The entry of Nongfu Spring into the iced tea market with its new product "Ice Tea" is expected to intensify competition in the beverage industry, particularly targeting the existing player Yuanqi Forest, which has seen significant sales growth in its iced tea segment [6][7]. Group 1: Market Dynamics - Nongfu Spring plans to invest 2 billion yuan in research and promotion for its iced tea product, emphasizing its "100% real tea extraction" process and "0 additives" approach [7]. - Yuanqi Forest's iced tea sales reached 200 million yuan in 2023 and are projected to exceed 1 billion yuan in 2024, marking a 500% year-on-year growth [19]. - The iced tea market is characterized by fierce competition, with Yuanqi Forest's sugary iced tea challenging established brands like Master Kong and Uni-President, while Nongfu Spring's no-sugar iced tea aims to capture market share [7][20]. Group 2: Historical Context - The iced tea category in China was pioneered by the local brand "Xuri Sheng," which launched its iced tea product in 1994 and achieved significant market success, capturing over 70% market share at its peak [9][12]. - Following Xuri Sheng's success, competitors like Uni-President and Master Kong entered the market, leading to intense competition and the eventual decline of Xuri Sheng by 2002 [13][15]. Group 3: Current Competitive Landscape - As of 2024, Master Kong's iced tea revenue approached 18 billion yuan, maintaining a dominant position in the market, while Xuri Sheng has ceased operations [15][20]. - Uni-President has also adapted its strategy by launching low-sugar versions of its products and increasing marketing efforts, resulting in an 8.2% revenue growth in its beverage segment [21]. - Yuanqi Forest has adjusted its product sizes and introduced new flavors to enhance its market presence, achieving a 460% year-on-year sales growth in 2024 [22]. Group 4: Future Trends - The global iced tea market is projected to reach 53.3 billion USD in 2023, with a compound annual growth rate of 6.7%, indicating strong growth potential [24]. - Consumer preferences are shifting towards reduced-sugar or no-sugar options, with 71.4% of consumers considering "sugar reduction" as a key factor in their purchasing decisions [24].