量贩零食

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品牌运营:赵一鸣品牌多维度深度解析-数说故事
Sou Hu Cai Jing· 2025-10-08 14:25
今天分享的是:品牌运营:赵一鸣品牌多维度深度解析-数说故事 报告共计:15页 《赵一鸣品牌多维度深度解析-数说故事》由Social Research发布,基于2025年3月25日-9月25日社媒数据,从品牌发展、调性、营销、内容、舆情等维度剖 析量贩零食领军品牌赵一鸣。品牌起源于2019年江西宜春,由赵定创立,2023年与零食很忙战略合并,2024年集团更名为鸣鸣很忙并实现万店规模,2025年 9月门店超2万家,主打量贩模式,SKU超2000种,每月上新100余种,价格低至市面三分之一,聚焦三四五线城市下沉市场,还推出"赵一鸣省钱超市"拓展 至百货日化等品类,2023年曾获黑蚁资本领投、良品铺子跟投的1.5亿元A轮融资。品牌调性年轻潮流,以"不玩套路真便宜"为Slogan,愿景是"让中国老百 姓实现零食自由",通过直供供应链降本让利消费者与加盟商,但存在加盟商盈利质疑(如用户反馈毛利低、成本高)及员工待遇问题(工作强度大、无故 开除)。近半年营销上,5月"6.1愿望成真节"邀林一代言、设高价值奖品,抖音互动量破1124万,微博/抖音NSR达97%/94%;6月"怀集水灾哄抢事件"致舆 情骤降(B站NSR -6 ...
零食行业:赵一鸣品牌多维度深度解析-数说故事
Sou Hu Cai Jing· 2025-10-05 23:44
数说故事发布的《赵一鸣品牌多维度深度解析》报告,聚焦2025年3月-9月赵一鸣零食的发展现状、运营策略、营销表现及潜在风险,揭示其作为量贩零食 赛道领军品牌的成长逻辑与挑战。 报告显示,赵一鸣零食2019年由赵定在江西宜春创立,2023年与零食很忙战略合并,2024年母公司更名鸣鸣很忙集团,2025年9月门店超2万家,成为行业头 部企业。品牌主打"量贩"模式,SKU超2000种,每月上新100余种,价格低至市面价1/3,聚焦三四五线城市下沉市场,还推出"赵一鸣省钱超市"拓展至百货 日化领域。资本层面,2023年完成1.5亿元A轮融资(黑蚁资本领投、良品铺子跟投),推动门店从84家快速扩至2500余家。 品牌调性以"年轻、潮流、高性价比"为核心,Slogan"不玩套路真便宜"传递低价与真诚理念,愿景是"让中国老百姓实现零食自由"。价值观上强调"让利加盟 商与消费者",通过直供供应链与数智化仓配降本,但实际存在矛盾:一方面控制货架高度、设"寻宝"购物体验;另一方面,社交媒体有加盟商抱怨毛利仅 15%、回本难,员工反映工作强度大、待遇低。 营销方面,近半年呈"事件驱动"特征。5月"6.1愿望成真节"邀林一代言,联合 ...
鑫闻界丨带病IPO?闭店风波中的“好想来”母公司万辰集团闯关港交所
Qi Lu Wan Bao· 2025-09-26 09:18
Core Viewpoint - The competition for the first snack stock on the Hong Kong Stock Exchange is intensifying, with Fujian Wancheng Biotechnology Group Co., Ltd. submitting its listing application following the earlier submission by the parent company of the "Zhao Yiming" brand [1] Group 1: Company Overview - Wancheng Group, established in 2011, initially focused on the cultivation of edible mushrooms and successfully listed on the Shenzhen Stock Exchange in April 2021 [4] - The company has transitioned its main business focus to snack and beverage retail, with revenue contributions of 94.2% and 98.3% for 2023 and 2024, respectively [1] - The "Good Idea" brand operates 15,365 snack and beverage stores across 29 provinces and regions in China, with over 99% being franchise stores [1] Group 2: Financial Performance - As of June 2023, Wancheng Group's total liabilities exceeded 5 billion yuan, with interest-bearing loans over 930 million yuan and trade payables exceeding 1.5 billion yuan [5] - The company's asset-liability ratio stands at 68.95%, and sales expenses have increased by 41.86% year-on-year [5] Group 3: Market Outlook - The retail scale of the snack and beverage market is projected to reach 613.7 billion yuan by 2029, accounting for 11.4% of the overall market [1] - Wancheng Group plans to continue consolidating its competitive advantage in the Chinese snack and beverage retail industry and expand its successful "hard discount" business model into broader fast-moving consumer goods markets [7] Group 4: Management Changes - Recent management changes include the resignation of the former chairman and the appointment of Wang Lijing as the new chairman, with Wang Zeneng, the son of the former chairman, taking over as general manager [6] - The company primarily relies on a franchise model for expansion, which poses risks related to the performance of franchise stores and the ability to maintain and attract new franchisees [6]
量贩零食龙头品牌“好想来”母公司冲刺“A+H”双重上市
Jing Ji Guan Cha Wang· 2025-09-25 03:28
Core Viewpoint - Wanchen Group, the parent company of the leading retail brand "Haoxianglai," has submitted an application for H-share listing on the Hong Kong Stock Exchange, aiming for a dual listing in A+H shares, with plans to use the raised funds for expansion and upgrading of its store network, product diversification, logistics efficiency, and digital infrastructure enhancement [1][2]. Group 1: Company Overview - Wanchen Group, established in 2011, initially focused on edible fungi and transitioned to the bulk snack industry in 2022, integrating multiple snack retail brands into "Haoxianglai" [2][3]. - The company's revenue surged from 4.26 billion yuan in 2021 to an expected 32.33 billion yuan in 2024, marking a year-on-year growth of 247.9% [2][3]. - The gross merchandise volume (GMV) for 2024 is projected to reach 42.6 billion yuan, reflecting a 282% increase from 2023 [1][2]. Group 2: Business Model and Market Position - Wanchen Group operates a franchise model, with 99% of its 15,365 stores being franchises, which has contributed to its rapid expansion and market penetration across 29 provinces in China [3][4]. - The company has established a significant presence in high-consumption areas like the Yangtze River Delta, leveraging a zero-franchise fee and zero-delivery fee strategy to create a mutually beneficial relationship with franchisees [3][4]. Group 3: Industry Insights - The bulk snack retail market in China is experiencing rapid growth, with the market size projected to increase from 7.3 billion yuan in 2019 to 129.7 billion yuan in 2024, representing a compound annual growth rate (CAGR) of 77.9% [4][5]. - The market is expected to reach 613.7 billion yuan by 2029, with a forecasted CAGR of 36.5% from 2024 to 2029, driven by increasing consumer demand for diverse and cost-effective products [5][6]. Group 4: Competitive Strategy - To address product homogenization challenges, Wanchen Group has launched two proprietary product lines: "Haoxianglai Value" focusing on core categories with high cost-performance, and "Haoxianglai Selection" targeting high-end and differentiated products [6]. - The company has accumulated over 150 million registered members, providing a solid foundation for sustained growth [3]. Group 5: Stock Performance - On September 24, Wanchen Group's A-share price rose by 2.23%, closing at 172.18 yuan per share, with a market capitalization of 32.304 billion yuan [7].
万辰赴港角逐量贩零食第一股
Bei Jing Shang Bao· 2025-09-24 16:37
Group 1 - Wanchen Group has officially submitted a listing application to the Hong Kong Stock Exchange, aiming to raise funds for expanding and upgrading its store network, enriching its product portfolio, enhancing logistics efficiency, and upgrading digital infrastructure [1] - The company initially focused on edible fungi and went public on the Shenzhen Stock Exchange in April 2021. It has since acquired several regional snack brands and consolidated them into the "Haoxianglai Brand Snacks" in 2023, forming a significant presence in the snack market [1] - As of the first half of 2025, Wanchen Group reported revenue of 22.583 billion yuan, a year-on-year increase of 106.89%, with net profit attributable to shareholders reaching 472 million yuan, a staggering increase of 50,358.8% [1] Group 2 - The snack retail industry is experiencing rapid growth, characterized by a "two super, many strong" competitive landscape, with leading companies expanding through a franchise model. Wanchen Group's store count reached 14,196 by the end of 2024, while its competitor, Mingming Hen Mang, had 14,394 stores [2] - By June 30, 2025, Wanchen Group's store count increased by 1,169 to 15,365, while Mingming Hen Mang surpassed 20,000 stores by September 2025 [2] - Both companies are competing for the title of "first snack stock in Hong Kong," with Wanchen Group's IPO application and Mingming Hen Mang's ongoing IPO process aimed at funding store expansion and supply chain optimization [2] Group 3 - Wanchen Group anticipates entering a "refined operation" phase in the snack industry, with a slowdown in store growth and a focus on supply chain efficiency and proprietary brands as key competitive factors [3] - The company has begun launching new store formats and developing its own brands, such as "Haoxianglai Super Value" and "Haoxianglai Selection," to cater to diverse consumer needs [3] - Experts suggest that Wanchen Group's IPO strategy is aimed at enhancing brand recognition and industry standing, attracting more consumers and partners, and securing additional financing channels to strengthen its competitive position [3]
转卖零食后,这家公司营收3年涨了75倍
3 6 Ke· 2025-09-24 10:11
近日,A股上市公司万辰集团正式递表港交所,向港股发起冲击。 万辰集团旗下拥有量贩零食品牌"好想来""老婆大人",截至2025年6月30日,门店总数约1.54万家。招股书显示,按2024年零食饮料GMV(商品交易总 额)计,"好想来"是中国量贩零食饮料零售的最大品牌,市占率28.2%;"老婆大人"位列第五,市占率4.2%。 资料图好想来线下门店 中新经纬 闫淑鑫摄 卖金针菇的转卖零食,年入逾300亿 招股书显示,2022年至2024年,万辰集团实现收入5.49亿元、92.94亿元、323.29亿元,2024年的营收增速达247.9%,2025年上半年,该公司实现收入 225.83亿元,同比增长106.9%。 以此计算,从2021年到2024年,万辰集团营收3年涨了近75倍。 利润方面,2022年至2024年,万辰集团录得经调整净利润3930万元、-2810万元、8.23亿元;2025年上半年实现经调整净利润9.22亿元,同比增长286.8%。 2022年至2024年及2025年上半年,万辰集团毛利率分别为1.1%、9.0%、10.7%、11.4%;经调整净利润率分别为7.2%、-0.3%、2.5%、4.1%。 ...
两个百亿国资,为了江陵首富“打”起来了
Sou Hu Cai Jing· 2025-09-14 03:38
Core Insights - The acquisition of Liangpinpuzi by state-owned enterprises has become a hot topic, with Wuhan Yangtze International Trade Group (Changjiang Guomao) entering the picture after a previous agreement with Guangzhou Light Industry [3][4][7] - The deal involves the transfer of 29.99% of Liangpinpuzi's shares, with Changjiang Guomao set to gain control of the company [8][4] - Liangpinpuzi's founder, Yang Hongchun, has faced challenges as the company transitions from a high-end snack positioning to a focus on "natural and healthy new snacks" amid increasing competition [11][12][15] Acquisition Details - Changjiang Guomao will acquire 21% of Liangpinpuzi's shares for 10.46 billion yuan and an additional 8.99% for 4.45 billion yuan, maintaining the price of 12.42 yuan per share [4][8] - The acquisition process has been complicated by a lawsuit from Guangzhou Light Industry, which had previously signed an agreement to acquire shares from Liangpinpuzi's controlling shareholder [3][9] Company Background - Liangpinpuzi, once a leading player in the snack industry, has seen its market position challenged by the rise of low-cost competitors and changing consumer preferences [11][12] - The company previously thrived on the dual trends of consumption upgrade and e-commerce boom, achieving a peak market value of over 30 billion yuan [11][12] Strategic Shifts - Liangpinpuzi is undergoing a strategic transformation to address market challenges, focusing on reducing sugar, salt, fat, and additives in its products while promoting a "clean label" approach [13][14] - The company aims to lower prices by 10%-40% on key products to compete with low-cost snack retailers, while also enhancing its supply chain efficiency [14][15] Industry Trends - The Chinese snack industry is expected to face significant challenges in the next five years, including consumption segmentation, health awareness, and supply chain excess [15][18] - Brands must adapt by upgrading their products, supply chains, channels, and emotional branding to survive and thrive in a competitive landscape [15][18]
从金针菇大王到零食帝国掌舵人,90后富二代领航万辰集团冲刺IPO
Sou Hu Cai Jing· 2025-09-01 15:00
Core Insights - Wancheng Group has successfully transformed from a mushroom producer to a player in the bulk snack industry, preparing to re-enter the capital market [1][3] - The company faced a significant decline in profitability in its original mushroom business, prompting a strategic pivot to capitalize on the growing snack market [3][5] Company Overview - Established in 2011, Wancheng Group initially thrived on mushroom products, with revenue from mushrooms exceeding 70% from 2017 to 2021, leading to its listing on the Shenzhen Stock Exchange in 2021 [1][3] - In 2023, the gross margin for the mushroom business plummeted to -1.95%, despite a slight revenue increase to 402 million yuan in 2024 [3][5] Market Expansion - The Chinese snack industry is experiencing substantial growth, which Wancheng Group aims to leverage through its "Luxiaochan" brand launched in August 2022 [3][5] - The company rapidly expanded its store count from under 100 to over 20,000 across various regions in just a few years, with 98% of its 2024 revenue of 32.3 billion yuan coming from the snack business, marking a 248% year-on-year growth [3][5] Challenges Faced - The rapid expansion has led to issues such as food safety and service quality complaints, particularly regarding brands like "Haoxianglai" and "Laiyoupin" [5] - Despite high revenue, the company struggles with low profitability, reporting a net profit margin of -0.89% in 2023 and only 0.91% in 2024 [5] Management Changes - The company has undergone significant management changes, with founder Wang Jiankun under investigation and his sister Wang Liqing taking over as acting chairperson, while his son Wang Zeneng emerges as the actual controller [5][6] - Wang Zeneng's leadership is seen as stabilizing the company during this transition and continuing the transformation process [5][6] Future Considerations - Wancheng Group must address challenges such as maintaining market leadership, improving profitability, and reducing debt levels [6] - Consumer preferences for brands like "Haoxianglai" will be crucial for the company's ongoing success in the competitive snack market [6]
万辰集团(300972):25Q2量贩零食业务净利率高位再升
HTSC· 2025-08-29 07:06
Investment Rating - The report maintains a "Buy" rating for the company [5][6] Core Views - The company achieved a revenue of 22.583 billion RMB in H1 2025, representing a year-over-year increase of 106.89%, with a net profit of 472 million RMB, reflecting a staggering year-over-year growth of 50358.80% [1] - The snack retail business continues to show strong growth, with Q2 revenue reaching 11.762 billion RMB, up 93.29% year-over-year and 8.69% quarter-over-quarter [1][2] - The net profit margin for the snack retail business has improved, reaching 4.67% in Q2, driven by scale effects and enhanced bargaining power [3] Revenue Breakdown - In Q2 2025, the snack retail business generated 11 billion RMB, a 95% increase year-over-year, with an addition of approximately 1,069 stores, bringing the total to 15,365 stores [2] - The edible mushroom segment reported revenue of 105 million RMB, down 1.1% year-over-year due to oversupply and low sales prices [2] Profitability Analysis - The overall gross margin for Q2 was 11.76%, with a decrease in sales expense ratio to 2.88% [3] - The company has validated its profit release logic for 2025, with expectations for continued profit growth supported by the recovery of minority equity and potential Hong Kong listing [3] Earnings Forecast and Valuation - The forecast for net profit for 2025-2027 has been adjusted upwards to 897 million RMB, 1.233 billion RMB, and 1.545 billion RMB, respectively, with corresponding EPS of 4.78, 6.57, and 8.23 RMB [4] - The target price has been raised to 234.22 RMB, based on a 49x PE for 2025, reflecting the company's strong market position and growth potential [4]
翻倍牛股,中报业绩大增500倍
中国基金报· 2025-08-29 00:14
Core Viewpoint - Wanchen Group reported a significant increase in revenue and net profit for the first half of the year, with revenue reaching 22.58 billion yuan, a year-on-year growth of 106.89%, and net profit attributable to shareholders soaring to 471.57 million yuan, an increase of 50,358.80% [2][3] Financial Performance - The company achieved a net cash flow from operating activities of 1.30 billion yuan, up 133.37% year-on-year [3] - Basic earnings per share were 2.62 yuan, reflecting a 45,864.91% increase compared to the previous year [3] - The gross profit margin for snack products improved to 11.49%, an increase of 0.62% year-on-year [7] Business Segments - Wanchen Group's main business segments include edible fungi and the rapidly growing snack retail business, which has become the core focus [5][6] - The snack retail business generated 22.34 billion yuan in revenue, marking a 109.33% increase year-on-year [3][6] Store Expansion and Strategy - As of mid-2025, the company operated 15,365 snack retail stores across 29 provinces, with a slower growth rate in new store openings compared to previous years [6] - The company is shifting its strategy from merely increasing store numbers to enhancing store quality and expanding business boundaries [6] Mergers and Acquisitions - Wanchen Group plans to acquire a 49% stake in Nanjing Wanyou Commercial Management Co., Ltd. for approximately 1.38 billion yuan to strengthen its core team [9][10] - The company aims to enhance operational efficiency and profitability through internal resource integration and external capital market engagement [10] Market Performance - As of August 28, Wanchen Group's stock closed at 176.5 yuan per share, with a total market capitalization of 33.11 billion yuan, reflecting a year-to-date stock price increase of over 120% [11]