前两天跟一个朋友聊天，她跟我说了个她做自媒体的事，很有意思。 她说她刚开始做的时候，报了好多班，学了好多什么爆款文案，视频剪辑技巧，然后坚持日更，给自己累了个半死，结果就是做不出来满意的成绩，后来 偶尔有一次听一个大V说，投流如何如何，她一咬牙给自己买了好多流量，结果，真的就爆了，后来，没钱可投了，就再也没爆过。 她从中悟到两件事： 1. 原先以为大家都是公平竞争，没想到好多都是氪金玩家，直接用人民币烧流量，她这点投入在"烧钱投流"的大号面前简直不值一提，原来这么多号"不 讲武德"。 2.自己的内容是真的有待提高，短期内不投流确实没人看。要想增长，质量还得长时间继续提升优化。 于是，她陷入一个困境：这个流，到底投还是不投？ 其实，做自媒体面对的状况，只是整件事的一个缩影。真正疯狂和残酷的，发生在以线上流量为根基的电商领域。 01疯了：烧钱的和卖货的很崩溃 我在抖音（同名：李倩说品牌）上发了一个短视频，也是关于买流量的话题，评论区感觉都要炸了。 有人说：不投流鬼都没有，也有人说：你以为我们是赚的是卖货的钱吗，还有人说赶快管管吧，马上就要1块钱买辆劳斯莱斯了，更有做电商直播的说自 己"不投等死投了找死"…… 前年 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [3] Core Views - The company has shown robust revenue growth and continuous improvement in operational quality, with a revenue of 2.07 billion yuan in H1 2025, representing a year-on-year increase of 16.20% [5] - The company is expected to benefit from the rapid growth of the baking industry and the diversification of sales channels, with projected revenues of 4.46 billion yuan, 5.04 billion yuan, and 5.58 billion yuan for 2025, 2026, and 2027 respectively, reflecting year-on-year growth rates of 16%, 13%, and 11% [5][6] Revenue and Profitability - The company's revenue for 2023 was 3.50 billion yuan, with a projected increase to 3.83 billion yuan in 2024, and further growth to 4.46 billion yuan in 2025 [3] - The net profit attributable to the parent company is forecasted to rise from 268 million yuan in 2024 to 343 million yuan in 2025, and 408 million yuan in 2026, indicating a year-on-year growth of 28% for 2025 [3][6] - The gross profit margin for H1 2025 was 30.35%, with a net profit margin of 8.25%, showing an improvement in profitability despite a slight decrease in gross margin compared to the previous year [5] Product and Channel Performance - The revenue structure indicates that frozen baked goods accounted for approximately 55% of total revenue, with a year-on-year growth of about 6%, while baking ingredients (cream, sauces, etc.) contributed around 45% with a growth of over 30% [5] - The company has successfully launched new products in key retail channels, achieving nearly 30% growth in supermarket sales, and over 40% growth in innovative channels such as restaurants and new retail [5] Financial Projections - The earnings per share (EPS) is projected to increase from 1.58 yuan in 2025 to 2.79 yuan in 2027, with corresponding price-to-earnings (P/E) ratios of 23.9, 20.0, and 17.3 for the respective years [3][6] - The company’s return on equity (ROE) is expected to improve from 10% in 2024 to 12.8% in 2027, indicating enhanced profitability and efficiency [6]

Group 1 - The core viewpoint is that Yiwu Miaoxiang Business Co., Ltd. is actively leveraging the TikTok e-commerce platform to expand its cross-border e-commerce business, capitalizing on its supply chain advantages and TikTok's vast user base [1][9] Group 2 - The market potential of TikTok is immense, with over one billion users globally, providing opportunities to attract a young audience through innovative product promotion methods like short videos and live streaming [3][9] - Yiwu's local supply chain advantage allows the company to quickly access diverse products and ensure efficient logistics, which is crucial for reducing inventory costs and maintaining a competitive edge [4][9] Group 3 - The company faces challenges such as intense competition on the TikTok platform, requiring significant investment in content creation to stand out among numerous competitors [6][9] - The evolving commercialization model of TikTok introduces uncertainties, including changes in advertising costs and traffic distribution, which can impact the profitability of e-commerce projects [6][9] Group 4 - Continuous innovation and precise operations are essential for the company to enhance user experience and conversion rates, as well as to explore cross-border logistics optimization and collaborations with KOLs [7][9] - Utilizing data analysis and user feedback will enable the company to refine its products and marketing strategies, which is critical for long-term success in a competitive environment [7][9]

Core Viewpoint - Supor is leveraging its innovative "non-stick iron" technology and focusing on niche markets to drive growth, particularly through its successful strategies on the Pinduoduo platform [1][17]. Group 1: Product Launch and Sales Performance - Supor's new frying pan launched on Pinduoduo achieved nearly a thousand sales in just one week, reinforcing the company's strategy on the platform [2]. - Since entering Pinduoduo in 2021, Supor's cookware products have seen sales increase nearly fourfold over the past three years, with several products achieving annual sales of over ten million [2]. - The introduction of the honeycomb stainless steel frying pan in 2022 generated annual sales of 15 million, establishing Supor's foothold on Pinduoduo [4]. - The company has also developed smaller pressure cookers for young families, which have become another hot-selling item in 2023 [4]. Group 2: Market Strategy and Consumer Insights - Supor's strategy focuses on niche markets, targeting specific consumer needs, such as the growing number of young couples and the elderly [4][6]. - The company has identified that consumers in lower-tier cities prioritize cost-effectiveness, while those in first- and second-tier cities are more interested in health and smart products [16]. - Pinduoduo's broad user base and various marketing tools, such as "hundred billion subsidies," have significantly contributed to Supor's rapid market penetration [8][16]. Group 3: Marketing and Operational Support - Supor has benefited from Pinduoduo's specialized support teams, which provide insights into user demographics and consumption trends, aiding in product development [14]. - The use of marketing tools like "multi-user groups" and "hundred billion subsidies" has allowed Supor to quickly elevate new products to high sales levels [9][10]. - The company estimates that promotional cost savings from Pinduoduo's support have freed up hundreds of thousands of yuan annually for new product development [16]. Group 4: Future Innovations - Supor is set to launch its flagship "non-stick iron" frying pan, which is expected to achieve annual sales of over 20 million [2][17]. - The development of this product addresses long-standing issues in the cookware industry, such as uneven heating and food sticking, aligning with consumer demand for healthier cooking options [17][18].

Core Concept - SCRM (Social Customer Relationship Management) is an upgraded version of traditional CRM, focusing on social interaction and precise operations to enhance customer relationships and experiences [1][2][3] Group 1: Definition and Purpose of SCRM - SCRM emphasizes two main goals: improving customer experience through automated interactions and utilizing social data for cost-effective user engagement [3][4] - It is particularly suitable for B2C sectors, especially in retail, where direct consumer engagement is crucial [5] Group 2: Core Functions of SCRM - SCRM integrates customer data from various social platforms, creating comprehensive customer profiles for better follow-up [6] - It enables social interaction and targeted marketing through automated notifications and personalized messages based on customer behavior [7] - Data analysis and intelligent decision-making are facilitated by tagging customers based on their interactions, helping businesses to predict purchasing intentions [8] - SCRM includes growth tools like group buying and referral incentives, which can significantly increase potential customer acquisition [8] - Efficient customer service is supported through multi-agent collaboration and automatic issue assignment based on keywords [9] Group 3: Key Features of SCRM - SCRM deeply integrates with high-frequency social platforms, allowing businesses to interact with customers anytime [10] Group 4: Effective Applications of SCRM - SCRM is essential for digital transformation, especially for small and medium enterprises aiming for precise customer acquisition and sustainable growth [13] - It can enhance customer loyalty through long-term interactions, as evidenced by a 30% increase in repurchase rates for certain brands [14] Group 5: Choosing the Right SCRM System - Companies should first clarify their needs, whether for small community management or comprehensive data integration [14] - The system's scalability and ability to support future upgrades are critical considerations [14] - Emphasis on service and security is vital, ensuring that the chosen brand provides technical support and data protection [14]

作者：杨瑞 来源：财经三分钟 以下文章来源于财经三分钟 ，作者杨瑞 财经三分钟 . 4 亿中产财经资讯平台，专注深度财经商业报道。由财经媒体人杨瑞团队执笔，出品《广州租售同 权》、《北京学区房多校划片》、《国家抢占人工智能制高点》等多篇千万级刷屏文章。 一场堪称戏剧性的资本大戏正在上演。 然而2025年5月7日，吉利汽车突然宣布拟以25.66美元/ADS的价格私有化极氪，较发行价溢价 22%，距离上市不足一周年。 极氪，那个曾以" 美股最快上市新势力 "惊艳众人的高端品牌，在短短37个月后，竟要匆匆落幕， 宣布私有化退市。 而此刻的新能源汽车赛道，早已不是当年的模样。小米从"营销之神"到深陷危机，行业竞争愈发激 烈。极氪也深陷舆论漩涡， 新车频出却被指"背刺"消费者 。 现在选择私有化退市，也许并不是坏事。 01 极氪光速上市，跑着退市！ 2024年5月，极氪以"美股最快上市新势力"之姿登陆纽交所，耗时仅37个月，风光无限。 这一操作创下新能源车企" 最快上市-最快退市 "纪录，资本周期之短令人咋舌。 表面看是吉利响应《台州宣言》推进资源整合，实则暴露了上市初期估值泡沫与后续经营不及预期 的双重困境。 可以说 ...