本文转载自每日经济新闻 值班编辑 ｜ 江江 视觉 | 诺言 10月1日，蜜雪集团发布公告称，9月30日联交所交易时段后，蜜雪集团已与标的公司及标的公司股东签 订投资协议，此次标的公司为福鹿家（郑州）企业管理有限公司（以下简称"福鹿家"）。 ，， 据此，蜜雪集团拟（自行及/或通过其指定附属公司）以向福鹿家注资人民币2.86亿元的方式认购标的公 司新增注册资本人民币690.17万元（占其经扩大注册资本的51%）。同日，蜜雪集团还与赵杰签订股权 转让协议，据此，赵杰同意转让及蜜雪集团同意受让福鹿家认缴出资额27.06万元（占其经扩大注册资本 的2%），总代价为人民币1120万元。 由此，蜜雪集团将合计斥资2.97亿元，取得福鹿家53%的股权。待上述投资及股权转让完成后，福鹿家 将成为蜜雪集团的非全资附属公司，而其财务业绩将并入蜜雪集团的财务业绩。 10月2日，"蜜雪冰城要卖啤酒了"话题冲上热搜，引发广泛关注。同日，据极目新闻，记者从一位接近蜜 雪冰城的人士处了解到，此消息属实。 据了解，蜜雪冰城是以新鲜冰淇淋茶饮为主的全国知名饮品连锁品牌。截至2025年6月，蜜雪集团全球 门店超过53000家，拥有蜜雪冰城、幸运咖 ...

Group 1: Market Entry and Strategy - Wuliangye's subsidiary, Xianlin Ecological Wine Industry, has launched a new craft beer brand "Fenghuolun," entering the mid-to-high-end craft beer market with a price of 19.5 yuan per can (390ml) [1] - Guizhou Zhenjiu has also entered the craft beer market with its "Niushi" craft beer, priced at 88 yuan per 375ml aluminum bottle [1] - The craft beer market in China is projected to reach a scale of 134.2 billion yuan by 2025, with a sustained growth rate leading the overall beer industry [1][7] Group 2: Consumer Targeting and Brand Positioning - Wuliangye's strategy focuses on three consumer groups: young consumers, middle-aged individuals in small towns, and experienced white-collar workers, targeting ages 25-49 who seek quality, individuality, and cultural experiences [2] - The introduction of "Fenghuolun" is seen as a significant evolution of Wuliangye's brand strategy, enhancing brand youthfulness and internationalization while integrating unique Chinese elements [3] Group 3: Competitive Landscape and Challenges - The entry of traditional liquor giants into the craft beer market is expected to raise channel thresholds and squeeze smaller brands in the short term, but may also promote the maturation and development of the craft beer category in the long term [1][4] - White liquor companies possess advantages such as established distribution networks and high-end brand images, which can support the premium pricing of craft beer products [4][5] - However, challenges include brand recognition conflicts, consumer skepticism regarding the expertise of liquor companies in beer production, and the mismatch between the short shelf life of craft beer and the long inventory cycles typical of liquor [6] Group 4: Industry Trends and Future Outlook - The craft beer market is entering a "Warring States" period, with traditional liquor giants like Wuliangye and Zhenjiu targeting the mid-to-high-end market, while independent craft beer brands focus on innovation in niche segments [8] - The overall consumption of craft beer in China is expected to grow significantly, with a compound annual growth rate of 17% from 2022 to 2025 [7] - The rise of instant retail and modern logistics is transforming consumer habits and scenarios in the craft beer industry, enhancing consumer experience through precise marketing and immediate delivery [8]

Core Viewpoint - The chairman of Zhenjiu Lidou, Wu Xiangdong, announced the launch of a high-end craft beer named "Niu Shi-NEWS" priced at 88 yuan per bottle, aiming to capitalize on the booming craft beer market and counteract the declining performance in the white liquor sector [1][3][9]. Group 1: Product Launch and Strategy - Wu Xiangdong's new beer product is designed to promote a lifestyle of enjoyment for both oneself and others [3]. - The beer's name "Niu Shi" will have its inspiration revealed during a live product launch on August 8 [6]. - This is not Wu's first venture into the beer industry; he has previously invested in a craft beer brand, indicating a strategic interest in this market [6][8]. Group 2: Market Context and Rationale - The decision to enter the beer market is influenced by the current turmoil in the white liquor market, with Zhenjiu Lidou experiencing a significant decline in sales [9][10]. - The company anticipates a revenue drop of 38.3% to 41.9% year-on-year for the first half of the year, with expected revenues between 2.4 billion to 2.55 billion yuan [9]. - The craft beer market is currently thriving, and the introduction of a new product during the peak sales season could help boost overall sales [8][12]. Group 3: Competitive Landscape and Challenges - The craft beer market is characterized by a trend towards premium pricing, but the 88 yuan price point for "Niu Shi" is significantly higher than the mainstream market, which typically sees prices between 6 to 10 yuan [13]. - Analysts express skepticism about the potential for high sales volume at this price, suggesting that the product may initially serve as a marketing tool before introducing more affordable options [13]. - The beer market is experiencing a "consumption grading" phenomenon, where premium products are gaining traction, but the overall market remains dominated by lower-priced offerings [13].