抖音，正成为消费趋势风向标 Fast Reading 作者丨高越 坐在蒙古包里，身穿传统民族服饰的主播举起一片大如羽扇、薄如纸片的牛肉干脆片，几乎挡住了 半张脸，"吃起来像薯片一样"，嘎嘣脆。直播间最醒目的背景是一块"呼伦贝尔原产地直播"的牌子， 左下角还在不断跳出观众提问。 平均每一天，有15000桶牛脆脆从哈尼牧场工厂内不断运转的生产线上新鲜出炉，封袋装箱，被送到 全国各地的消费者手中。 今年五一，抖音电商成为年轻人消费趋势的风向标。内蒙古的顶流牛肉干、酱牛肉等成为居家、出 游的必备零食之一，也有很多像牛肉干一样有地方特色的特产出圈，完成了向大众零食的蜕变。 ■ 吃起来像薯片一样嘎嘣脆的牛肉片，让原本是地方特产的牛肉干成了一款复购强、受众广的 大众零食。 ■ 一场突发奇想的草原直播，让探味草原当天的成交额冲到了300万元。 ■ 依托抖音平台，商家发现好生意，消费者发现好商品，共同铸就健康的商业生态。 据抖音电商数据，"零食""出游美食""野餐"在五一期间相关搜索量提升127%，内蒙古奶皮子成交额 同比增长6.8倍，荣昌卤鹅成交额同比增长31倍，海南清补凉成交额同比增长135倍。 花了近半年时间，尝试过几轮 ...

Core Viewpoint - The company, Three Squirrels, is expanding its product line to include a new sanitary napkin brand called "She Zhi Mei," aiming to become a comprehensive consumer brand beyond just nuts [1][3]. Group 1: Product Expansion - Three Squirrels is not only launching sanitary napkins but also plans to develop various other product lines, including pet food, alcoholic beverages, and personal care products [1][5]. - The sanitary napkin brand "She Zhi Mei" emphasizes high safety and quality standards, featuring a sterilization level, 0 fungal contamination, and a 99% antibacterial effect [3]. Group 2: Market Context - The sanitary napkin industry has faced significant scrutiny due to safety issues, leading to a consensus that the industry is in a period of reshuffling and requires a reset [3][4]. - The entry of Three Squirrels and other brands into the sanitary napkin market is seen as an attempt to address these safety concerns and provide reliable products [3]. Group 3: Financial Performance - In 2024, Three Squirrels reported revenue of 10.622 billion yuan, a 49.3% increase year-on-year, and a net profit of 407.7 million yuan, up 85.5% [6][7]. - The company has invested heavily in marketing, with sales expenses reaching 1.868 billion yuan, a 50.9% increase from the previous year [7]. Group 4: Strategic Goals - Three Squirrels has set ambitious sales targets for its new product lines, including 250 million yuan for convenience food and 100 million yuan for both alcoholic beverages and personal care products by 2025 [5]. - The company aims to enhance its supply chain by establishing new processing plants across various regions in China and in Vietnam to achieve economies of scale [8]. Group 5: Future Outlook - The company's founder, Zhang Liaoyuan, describes the upcoming year as a "year of rebirth," indicating a focus on growth and market expansion [6]. - The success of Three Squirrels' diversification strategy will depend on its ability to establish competitive positions in new market segments [5][9].

Group 1 - The core viewpoint of the articles highlights the rapid expansion of discount snack stores in urban areas, driven by consumer demand for affordable products, with "Mingming Hen Mang" leading the market with 14,394 stores and a projected GMV of 55.5 billion yuan by the end of 2024 [1][3] - The introduction of the "Zhao Yiming Savings Supermarket" 3.0 store format by "Mingming Hen Mang" reflects a strategic shift to include a wider range of products, catering to consumers' desire for both savings and quality, thereby enhancing the one-stop shopping experience [3][5] - The McKinsey 2024 China Consumer Report indicates a shift towards rational consumption, with consumers prioritizing value for money, which has made cost-effectiveness a key competitive advantage in the discount retail sector [5][6] Group 2 - The discount retail model is gaining traction across various sectors, with the apparel industry also adapting to this trend, as evidenced by Vipshop's GMV reaching 52.4 billion yuan in Q1 2025, with a significant portion of sales coming from clothing and accessories [5] - The discount retail market in China reached a scale of 1.62 trillion yuan in 2021, with projections estimating it will grow to 2.28 trillion yuan by 2025, reflecting a compound annual growth rate (CAGR) of 11% from 2022 to 2025 [5][6] - The future of discount retail is expected to become more widespread as consumer rationality deepens and businesses optimize their supply chains and product categories, indicating potential growth in various industries beyond snacks and apparel [6]

Group 1 - The core theme of the 2025 Hubei Qianjiang Lobster Industry Expo is "Qianjiang Lobster Red Across the World," focusing on industrial upgrades and consumption trends [3] - The strategic partnership between Liangpinpuzi and the leading local restaurant brand "Xiahuang" aims to launch new summer products, including crispy lobster tails and a dual-flavor hot pot set [1][3] - The brand value of "Qianjiang Lobster" is reported to be 52.72 billion yuan, with a year-on-year increase of 24.8%, maintaining its position as the industry leader for seven consecutive years [3] Group 2 - In 2024, the total processing and trading volume of Qianjiang's small lobsters is expected to exceed 800,000 tons, accounting for 60% of Hubei's total output and 25% of the national total [3] - Liangpinpuzi has been awarded the title of "Ecological Strategic Cooperation Partner of Regional Public Brands" by local government leaders during the event [5] - The company plans to establish 10 core raw material bases across 50 origin areas this year, aiming to create a full industry chain value loop from "soil to food" [5]

Core Viewpoint - Hunan Mingming Hen Mang Commercial Chain Co., Ltd. has officially submitted its listing application to the Hong Kong Stock Exchange, focusing on a "low-margin, high-volume" business model that emphasizes supply chain optimization and efficient operations to provide high-quality snacks at lower prices [1][3]. Group 1: Business Model and Strategy - The company maintains a net profit margin of approximately 2.3% from 2022 to 2024, leveraging a "low-margin, high-volume" philosophy [3]. - Mingming Hen Mang employs a direct procurement model with manufacturers, enhancing bargaining power through large-scale purchases, with about 25% of its 3,380 SKUs sourced from customized manufacturer collaborations [3]. - The company has optimized its logistics and warehousing costs to 1.5%-1.7% of revenue, allowing for price reductions for consumers and franchisees [3]. Group 2: Market Penetration and Consumer Accessibility - The company targets lower-tier markets, providing high-quality snacks at competitive prices, breaking traditional retail barriers in county and town markets [5]. - Mingming Hen Mang has opened over 14,000 stores nationwide by the end of 2024, with 58% located in county and town areas, offering products at an average price 25% lower than traditional supermarkets [1][5]. - The company has customized 25% of its products to fit local tastes and has introduced small packaging strategies to lower the trial cost for consumers [5]. Group 3: Franchise Model and Profitability - The company's revenue model is heavily reliant on franchise sales, with 99.5% of income coming from franchise and direct store sales, while franchise fees account for less than 0.5% [7]. - Mingming Hen Mang's franchise model focuses on mutual profit, enhancing operational efficiency for franchisees through a smart product selection system and dual supervision [7]. - The average operational efficiency of franchisees has significantly improved, as evidenced by franchisee testimonials [7]. Group 4: Financial Performance and Future Plans - The company projects a GMV of 55.5 billion yuan for 2024, with over 1.6 billion transactions, and has improved its net profit margin from 1.7% to 2.1% despite low gross margins of 7.5%-7.6% [9]. - Over 60% of the funds raised from the IPO will be allocated to supply chain upgrades and optimizing the county-level store network, reinforcing its competitive advantage in lower-tier markets [9].

Core Viewpoint - The company is undergoing a significant transformation from a nut-focused business to a comprehensive consumer goods retailer, with ambitious plans for future growth and diversification [1][2][3]. Group 1: Strategic Direction - The company aims to build a "super supply chain system" and a "full-category, all-channel" business model, moving away from its previous "OEM" label to become a "manufacturing retail brand" [2][5]. - The company has set clear sales targets for various product categories by 2025, including 250 million yuan for convenience food, 100 million yuan for alcoholic beverages, and 50 million yuan for coffee [4][5]. Group 2: Financial Performance - In 2024, the company achieved a revenue of 10.622 billion yuan, representing a year-on-year growth of 49.3%, and a net profit of 408 million yuan, up 85.5%, successfully reaching its goal of "returning to 10 billion" [3][4]. Group 3: Product and Market Expansion - The company has launched over 1,000 new SKUs in the snack category in 2024 and is expanding into various sectors, including ready-to-eat meals, beverages, and personal care products [4][6]. - The company is focusing on building a distribution network in the vast county market, emphasizing the importance of small retail outlets in reaching consumers [5][6]. Group 4: Supply Chain Development - The company plans to use IPO proceeds to strengthen its supply chain by establishing new processing plants across various regions in China and setting up a factory in Vietnam to achieve economies of scale [6][7]. - The company is pursuing investment partnerships to enhance supply capabilities, aiming to improve product quality and reduce costs through collaborative efforts [6][7].

Core Insights - The collaboration between Liangpinpuzi and brands like Qianjiang Shrimp King and Xiaofeige has led to the launch of an innovative snack, the crispy shrimp tail hot pot set, at the 2025 Hubei "Qianjiang Lobster" Industry Expo, emphasizing the craftsmanship of "5 pounds of live shrimp yields 1 pound of shrimp tails" and traceability technology [1][3] Group 1 - Qianjiang lobster is renowned for its quality, with 3 out of every 10 small lobsters in China produced in Qianjiang, and the regional public brand value of "Qianjiang Lobster" is projected to reach 52.72 billion yuan by 2025, maintaining its national leadership for seven consecutive years [3] - The new crispy shrimp tail product adheres to a strict 5:1 shelling standard, ensuring the integrity and crispiness of the shrimp meat while incorporating the classic flavor of Qianjiang's oil-braised shrimp, delivering a spicy and sweet taste experience [3][7] - Liangpinpuzi employs digital technology to provide traceability for its products, allowing consumers to scan QR codes to access information about the origin of the shrimp, enhancing food safety and creating an emotional connection between consumers and the production area [5] Group 2 - The brand utilizes innovative techniques such as liquid nitrogen freezing to transform seasonal delicacies into convenient year-round offerings, and plans to continue developing core raw material bases in collaboration with Qianjiang, promoting an ecological model of "shrimp-rice co-cultivation" [7] - Industry experts note that Liangpinpuzi's combination of "extreme craftsmanship and traceability technology" addresses the challenge of regional delicacies gaining wider recognition, with the success of the crispy shrimp tail opening new consumption scenarios for the Qianjiang lobster industry [7] - The story of "3 out of 10 Chinese shrimp are produced in Qianjiang" is being further developed in the snack sector, as Liangpinpuzi aims to bring the essence of Qianjiang's fresh and spicy flavors to consumers nationwide this summer [7]

Group 1 - The event "New Business Civilization - Exploring Smart Technology Empowering Inclusive Healthcare" was held in Chengdu, attracting industry experts and company representatives to discuss the application and development of smart technology in the healthcare sector [1] - Li Weihua, a leading figure in franchise and chain management, provided deep insights into the development of the industry and offered constructive suggestions for Meitian Jingbao [1][3] Group 2 - Li Weihua emphasized that a scientific and reasonable business model must meet five primary indicators: politics, law, business, ethics, and emotion, along with 60 secondary indicators [3] - He discussed the evolution of business models, categorizing them into old models (such as distribution and direct sales) and new models (including e-commerce and community-based commerce) [3][5] - Li Weihua highlighted the importance of integrating modern technology tools like the internet, blockchain, and AI into business models, while cautioning that digitalization should not be viewed as the sole solution [5] Group 3 - For the healthcare sector, Li Weihua suggested designing a B2B and B2C profit model to meet diverse market demands, while advocating for a comprehensive franchise system covering various operational functions [5][6] - He noted that the trend of low pricing is crucial in today's market, as evidenced by successful companies like McDonald's and Starbucks, and recommended that Meitian Jingbao leverage this trend to provide affordable healthcare services [6] - Li Weihua recognized the potential of Meitian Jingbao to achieve inclusive healthcare through a nationwide franchise system, aiming to benefit a broad audience rather than just a niche market [6]

Group 1 - The core viewpoint of the article highlights the successful launch of new products by Liuliu Mei, focusing on health, innovation, and market expansion in the snack industry [1][2] - Liuliu Mei has established a comprehensive distribution network covering 34 provinces in China, with 1,396 distributors and a strong online presence [2] - The company emphasizes research and development, collaborating with universities and industry associations to innovate and improve product offerings [2][3] Group 2 - Liuliu Mei's market share in the Chinese fruit snack industry is projected to reach 4.9% in 2024, ranking first, while its share in the plum product sector is 7.0% [1] - The company has successfully diversified its product matrix, including various plum-based snacks and innovative jelly products, capturing consumer interest [1][3] - The brand's commitment to quality and safety is evident in its production processes, which include automated production lines and a focus on maintaining raw material freshness [4] Group 3 - Liuliu Mei is expanding its product line to include regional specialties, such as Guizhou spicy plums, which have received positive consumer feedback and high sales [3] - The company has built a robust supply chain, sourcing high-quality raw materials both domestically and internationally, ensuring competitive pricing and quality [3][4] - Future plans include enhancing the brand's global market presence and promoting sustainable practices in sourcing and production [4]

｜2025年5月21日 星期三｜ NO.1 多家券商扎堆举办消费主题策略会 宠物、零食、保健品、潮玩、美容个护……今年A股新消费板块热点层出不穷。据《每日经济新闻》记 者不完全统计，在最近10天左右的时间内，华福证券、中信建投、国金证券等多家券商举办了消费行业 主题策略会。火爆场面和两年前部分券商策略会消费分论坛惊现"零"观众的场景，形成鲜明反差。有券 商首席向记者反馈称，新消费行情趋热，甚至吸引了一些新能源、科技行业分析师来"蹭热度"。 点评：新消费板块近期备受关注，多家券商举办消费主题策略会，显示出市场对该领域的强烈兴趣。宠 物、零食、保健品等行业的热度上升，吸引了新能源和科技行业分析师的关注。这一趋势可能推动相关 公司股价波动，并带动整个消费板块的活跃度。总体来看，新消费行情的趋热将对股市整体产生积极影 响，投资者需关注相关行业动态。 NO.4 低利率改变打法，私募"弃债投股" 私募最新投资月报显示，目前多家宏观策略私募保持积极的权益资产净多头仓位，港股互联网和红利资 产备受青睐。在业内人士看来，低利率时代下，债券投资的难度显著提升，权益资产的性价比愈发凸 显，尤其伴随着政策持续发力，上市公司回购力度加 ...