广州前11月社零总额破万亿元 消费品市场回暖 中新网广州12月25日电 (许青青 孙雨燕)据广州市统计局25日介绍，1-11月，该市实现社会消费品零售总 额10078.01亿元，同比增长4.2%，增速比1-10月提高0.4个百分点，消费品市场呈回暖态势。 其中，在11月，广州紧抓年末消费旺季，围绕"广州暖冬消费季"推出汽车促销政策，并借力"双十一"、 广州国际美食节及精品消费月等大型活动，同步发放"食在广州"消费券，车市迎来放量、线上平台热 卖、赛事经济升温三大动能共同激发消费品市场潜力。 车市方面，在年末"广东优品购"汽车消费活动的激励下，汽车零售市场被成功点燃，呈现强劲的年末翘 尾特点。1-11月，全市限额以上汽车类商品零售额1143.99亿元，同比增长4.2%，增速较1-10月大幅提高 7.6个百分点，当月同比增速达64.1%，拉动全市社零总额增长0.5个百分点。其中，新能源汽车累计零 售额达506.81亿元，同比增长12.7%，11月当月增速达118.3%。 此外，借十五运会赛事热潮叠加年末消费升温，赛事吉祥物走红，相关文创产品引发消费者购买热潮， 体育娱乐、金银珠宝等品质类商品需求旺盛。1-11月， ...

来源：巨潮WAVE 2018年8月，泡泡玛特正式成立海外事业中心，开始拓展海外市场。 彼时，泡泡玛特整个公司也就600多人，年营收刚刚突破5亿元，海外业务一无所有，但创始人王宁笃定，"海外业务能达到公司一半收入"。 短短7年之后，泡泡玛特海外市场贡献了约50%的销售额，目标达成。 类似泡泡玛特的案例，近年来其实屡见不鲜。小米、名创优品等新一代中国企业，都在全球商业舞台展现了惊人的"中国速度"。它们仅用了10年左右，就 完成了全球化大规模布局，跻身世界品牌行列。从2015到2025，小米集团海外营收已从年收入40.6亿元增长到半年收入749亿元，增幅超17倍；名创优品 自2015年在新加坡开设首家海外门店起，截至2025年6月底，海外门店数量已达3307家，海外业务收入35.34亿元，占品牌总收入的40.9%...... 这种速度，与传统消费巨头的全球化历程形成了鲜明反差。回顾商业史，可口可乐、麦当劳、星巴克等无一不是耗费了数十年甚至上百年的漫长积累才建 立起如今的全球化版图。 "本质原因是全球化的驱动内核发生了根本变革，这是一场由数字化驱动的结构性降维打击"，全球支付平台PingPong联合创始人卢帅分享道。 ...

来源：新浪新消费 自带热搜体质的巴奴火锅，近日再次陷入舆论风波中。 12月初，湖北经视《经视直播》栏目微博发文称，有消费者反映，巴奴当月推出的尝鲜菜"水性杨花"有歧义。随后，巴奴将该 菜品改名并下架。有律师指出，该菜名在非云南地区可能涉嫌违反公序良俗。 消息一出，随即引发了热议，也为正在冲击港股IPO的巴奴蒙上了一层阴影。 不过，IPO前大笔分红的合理性，以及员工社保公积金欠缴等备受争议的问题仍然存在。8月时，这些问题已经引发了证监会 的关注，并要求其就股权架构合规性、分红合理性等9个方面的事项作出说明。 2025年以来，餐饮企业掀起了赴港上市潮，蜜雪冰城、绿茶餐厅、遇见小面等餐饮企业相继于港股IPO。不过，它们在资本市 场上的表现却堪称冰火两重天，雪王一飞冲天，绿茶和遇见小面则是跌跌不休。 这一次，巴奴能如愿成功上市吗？又能否获得资本市场的青睐？ "水性杨花"菜品引争议，巴奴风波不断 巴奴对于"水性杨花"菜品名的使用，似乎并非刻意为之。而且，该菜品如今已改名为"云南海菜花"，26元一份。 （图源：巴奴小程序） 公开资料显示，该菜品又名"波叶海菜花"，随水漂动，在云南当地常被称为"水性杨花"。从这一层面来看， ...

智通财经APP获悉，财通证券发布研报称，百胜中国(09987)同店保持韧性增长，门店持续扩张，态势保 持向上。该行认为公司具备长期领先的规模、品牌影响力和行业管理能力、数字化能力。该行预计 2025-2027年公司归母净利润分别为9.2/9.91/10.57亿美元，对应PE分别为19X/17X/16X，维持"增持"评 级。 财通证券主要观点如下： 公司公布RGM3.0战略 公司在投资者日上公布RGM3.0战略，继续聚焦韧性、增长、护城河三大核心维度，秉持"创新与提 效"双轮驱动策略，采用"前端分层，后端聚合"的发展理念。即在前端通过多品牌组合与多元化产品 线，覆盖广泛消费场景与客群;于后端通过跨门店、跨地区的资源共享与整合提升效率，构建更强协同 效应。 加速门店网络扩张 截至3Q2025全国门店17514家，较2024年净新增门店1119家。公司公布未来五年门店的增长目标：稳步 推进2026年门店总数达2万家的目标;2028年门店总数增加至超过2.5万家;到2030年门店总数力争突破3万 家。在加盟店上，2025年肯德基与必胜客净新增门店中加盟店的占比分别达到40%-50%和20%-30%，公 司计划未来几年 ...

财通证券发布研报称，百胜中国(09987)同店保持韧性增长，门店持续扩张，态势保持向上。该行认为 公司具备长期领先的规模、品牌影响力和行业管理能力、数字化能力。该行预计2025-2027年公司归母 净利润分别为9.2/9.91/10.57亿美元，对应PE分别为19X/17X/16X，维持"增持"评级。 加速门店网络扩张 肯德基前九个月净新增992家门店，到2028年，公司计划门店总数将增加约三分之一至1.7万多家，并在 经营利润上力争突破人民币100亿元，成为国内首个跨过该里程碑的餐饮品牌。 财通证券主要观点如下： 公司公布RGM3.0战略 公司在投资者日上公布RGM3.0战略，继续聚焦韧性、增长、护城河三大核心维度，秉持"创新与提 效"双轮驱动策略，采用"前端分层，后端聚合"的发展理念。即在前端通过多品牌组合与多元化产品 线，覆盖广泛消费场景与客群;于后端通过跨门店、跨地区的资源共享与整合提升效率，构建更强协同 效应。 截至3Q2025全国门店17514家，较2024年净新增门店1119家。公司公布未来五年门店的增长目标：稳步 推进2026年门店总数达2万家的目标;2028年门店总数增加至超过2.5万家;到 ...

Company Overview - Qixian Xiaochu, a quality dining platform under JD.com, has opened 30 stores in Beijing within 4 months since its first store launch, achieving coverage of major urban areas within the Fifth Ring Road [1] - The brand focuses on "freshly stir-fried" meals, aiming to provide consumers with a new dining choice while shifting the traditional takeaway market from price competition to quality competition [3][4] Product and Service Innovation - Qixian Xiaochu emphasizes a dining experience centered on "fresh, transparent, and safe" food, utilizing high-quality raw ingredients processed through standardized procedures and delivered via cold chain logistics [4][6] - The brand has introduced a 24-hour kitchen live-streaming feature, allowing consumers to watch the cooking process in real-time through the JD.com delivery app, enhancing transparency and consumer trust [4][6] Supply Chain and Quality Control - Transparency in ingredient sourcing is crucial for building consumer trust, with Qixian Xiaochu publicly disclosing its suppliers, which include top industry brands for various ingredients [6] - The integration of JD.com's mature supply chain capabilities allows Qixian Xiaochu to control the entire process from raw material procurement to delivery, significantly reducing operational costs and enabling rapid expansion [6][7] Industry Impact - Qixian Xiaochu's model is reshaping the competitive landscape of the takeaway market, moving the focus from price wars to quality and safety, thereby setting a new benchmark for the industry [7] - Analysts believe this approach could drive the takeaway industry away from homogenized price competition towards value-based competition centered on quality and safety, providing compliant dining businesses with greater growth opportunities [7][8]

（文章来源：第一财经） 中信证券研报表示，11月全国奶茶供给开始减少，咖啡门店维持增长。部分投资者担忧行业明年高基数 下的表现，我们认为具备产品创新、线下引流能力的头部品牌有望穿越周期，同时积极关注海外市场可 能增长的品牌。 ...

Core Insights - The article discusses the rapid rise of Guande, a small city in southeastern Anhui, as a popular destination due to its unique food offerings, particularly the "Guande three-piece set" consisting of stewed pot, milk tea, and peach crisp, which has garnered significant online attention and visitor influx [1][2][8] Group 1: Tourism and Consumer Behavior - The "Guande three-piece set" concept emerged from social media, attracting visitors from the Yangtze River Delta region, highlighting the convenience of travel to Guande [2][3] - The rise in popularity aligns with a shift in tourism trends from product-driven to experience-driven consumption, where the three-piece set fulfills various consumer needs [3][8] - The city has seen a significant increase in visitor numbers, with over 400 million views of related topics online and a 30% increase in revenue for small dining businesses [8][9] Group 2: City Governance and Infrastructure - Guande's local government has implemented a coordinated response to manage the influx of tourists, including free shuttle buses and enhanced market regulation to ensure safety and order [4][5][6] - The city is focusing on systematic urban governance improvements, including infrastructure upgrades and cultural integration to support long-term growth and sustainability [7][9] - Local businesses are actively participating in the tourism boom, with restaurants increasing staff and production capacity to meet demand [6][8] Group 3: Sustainable Development and Future Planning - Guande is exploring sustainable development strategies by connecting local agricultural products to the food industry and expanding into pre-prepared meal markets [9][10] - The city aims to diversify tourist attractions beyond the main street by promoting historical and natural sites through free transportation initiatives [9][10] - Long-term plans include developing a health and wellness industry, with significant investments and projects underway to enhance the city's appeal and infrastructure [10]

Group 1 - The beverage market is experiencing a surge in demand for turmeric drinks, particularly among young consumers, despite taste complaints and high sugar content [3] - The health and wellness trend is gaining traction among young people, with a significant increase in health-related consumption, particularly in the "healthcare and wellness" sector [4] - The approval of elderberry anthocyanins as a new food ingredient in China marks a significant opportunity in the functional food market, with a projected global market size of $960 million by 2027 [5] Group 2 - The 2025 Probiotic Industry White Paper highlights the rapid growth of the probiotic market in China, with an expected annual growth rate of 11%-12% [6] - The food and beverage sector is anticipated to gradually recover, supported by government initiatives to promote consumption and the integration of various consumption scenarios [9] - The classic beverage iced tea has seen a resurgence in popularity, with sales reaching 12.7 billion yuan, driven by nostalgia and innovative marketing strategies [10] Group 3 - The plant-based market is facing challenges, with major brands like Beyond Meat withdrawing from China due to high prices and poor taste, indicating a need for product improvement [12] - The beverage industry is entering a price war, with major brands signaling price reductions, which may impact profit margins across the supply chain [13] - The low glycemic index (GI) food market is rapidly expanding, with a projected market size of 176.2 billion yuan by 2024, driven by health trends and rising diabetes rates [14] Group 4 - Beer companies are diversifying into the beverage sector as the beer market slows, reflecting a trend of cross-industry expansion [15] - The self-service dining model is gaining popularity in the restaurant industry, with significant growth in the small hot pot segment, driven by cost-effectiveness [17] - The trend of cross-industry collaboration in the food and beverage sector is evident, with brands like Mixue Ice City testing breakfast offerings to expand consumer engagement [18] Group 5 - The beverage market is witnessing structural growth opportunities, particularly in niche segments that cater to specific consumer needs [19] - Innovative product forms and visual appeal are becoming key drivers in the beverage industry, as brands seek to differentiate themselves in a crowded market [21] - The competition among food delivery platforms is intensifying, with major players adjusting strategies to focus on operational efficiency rather than solely on price competition [22] Group 6 - New product launches in the food and beverage sector include innovative items like sugar-free Oreos and functional non-alcoholic beers, reflecting changing consumer preferences [23][24] - Companies like Kunlun Mountain Mineral Water are expanding their market presence through strategic partnerships, aiming to enhance brand visibility and market reach [25] - Jiahua Foods is facing challenges in its transition to consumer branding, with rising costs impacting profitability despite slight revenue growth [26]

今年以来，河南省抢抓节假日消费关键节点，密集发放消费券等惠民礼包，有效激发市场热情。今 年前11个月，全省限额以上单位餐饮收入482.8亿元，同比增长7.2%；商品零售额实现6788.2亿元，同 比增长9.1%。 能看到"焕新"需求的巨大潜力。今年，河南积极落实国家"两新"政策，加力扩围"以旧换新"，带动 家电、新能源汽车等大宗商品消费增长。企业、平台快速跟上，叠加推出优惠礼包，有效降低居民换新 成本。今年前11个月，全省限额以上单位通讯器材、家用电器和音像器材、汽车零售额同比分别增长 61.6%、10.5%、4.7%，其中11月当月可穿戴智能设备、智能手机、新能源汽车类商品零售额同比分别 增长74.6%、49.9%、16.8%。 河南日报记者 王歌 能看到新型消费的增量空间。今年以来，郑州奥体中心"好戏连台"，大型演唱会、体育赛事等活动 密集举办，直接带来门票收入的同时，还有效带动了餐饮、住宿、购物等消费。10月中旬，五月天在郑 州奥体中心连唱3天，带动周边餐饮、住宿、交通等消费超7亿元。 消费一头连着国民经济，一头连着老百姓的衣食住行。今年前11个月，河南社会消费品零售总额实 现2.64万亿元，同比增长5 ...