这是新消费智库第 2 6 3 0 期文章 1. 青提味养乐多全新上市 近 日，养乐多官宣活菌型乳酸菌乳饮品（青提味）线上首发，。据品牌介绍，新品每瓶至少含 100 亿活菌，并添加钙、维生素 D ，口感清 爽。 （食业头条） 2. 三得利推出无酒精起泡葡萄酒 2. 三得利推出无酒精起泡葡萄酒 3. 烘焙品牌麦吉士上新胡萝卜 A2 高钙吐司 4. 红松集团推出新款益生菌产品 5. 天府可乐推出藿香小可乐 PLUS 版 6. 希腊酸奶生产商乔巴尼将对纽约工厂投资 12 亿美元 7. 九州通拟 6.73 亿元投资奥园美谷 8. Commercial Bakeries 收购饼干制造商 Hol landia 9. 美国内衣品牌 Huug 完成 600 万美元 A 轮融资 10. 贝泰妮集团成长沙浴见第二大股东 11. Columbia 推出联合限定款 PFG 系列钓鱼衬衫 12. BegL 餐厅登陆深圳万象天地 13. 亚马逊推出医学护肤与高端美妆专区 14. ILI-NING1990x cloveclub 联名系列发布 15. Miu Miu 武汉 SKP 全新旗舰店启幕 近日， 三得利上架无酒精起泡红葡萄酒和无酒精起 ...

Financing Dynamics - Chobani, a Greek yogurt producer, will invest $1.2 billion to build its third dairy processing plant in New York, expected to create over 1,000 full-time jobs [3] - Huug, a brand specializing in machine-washable bras, raised $6 million in Series A funding led by Kaylim Capital to expand its business [5] Delisting & Listing - Orijin announced the completion of its cash acquisition of COFCO Packaging, leading to COFCO Packaging's delisting from the Hong Kong Stock Exchange due to loss of equity financing and prolonged trading stagnation [7] - JBS received approval from the SEC for its New York listing plan, which could increase its market value to $30 billion [10] Brand Dynamics - Charoen Pokphand Group will acquire the remaining 23.8% stake in CP Foods from Itochu Corporation for $1.1 billion, achieving full control [11] - Nestlé Japan launched two new concentrated beverages, Nescafé Espresso Base, to cater to the growing demand for iced coffee [18] - Bunge announced the sale of its North American dry corn and cornmeal processing business to Grain Craft, marking a strategic business optimization [21] Personnel Dynamics - Nike appointed Jennifer Hartley as Chief Strategy Officer, aiming to drive and execute the company's strategic initiatives [27]

文 ｜ 杨帆 玛西高娃 ▍ 我国对美出口贸易在省际层面呈现出东部集中、区域分化和集群支撑的三重特征 。 第一，我国对美出口高度集中于东部沿海省份，2 0 2 3年以来前五大省份贡献了7 2 . 3%的出口额，前八大省份合计贡献8 4 . 9%，其中广东和浙江 出口动能更为强劲，两者分别贡献了2 5 . 1%和1 6 . 6%。不过前五大外贸大省在面对关税2 . 0的表现，出现了分化，山东和浙江可能抢出口诉求更 强，上海和广东略靠后。出口交货值视角也基本印证上述结论，当前上海在出口交货值增速上较为疲弱。 我国分省市对美出口整体呈现出东部集中、区域分化和产业集群支撑的三重特征。其中，广东和浙江等东部沿海省份是出口主力，山西和河南等 中部省份对美出口依赖偏高。同时结合商品结构层面，我国各省市对美出口贸易呈现商品出口中心度较高、总体依赖度不高且结构多元的特征。 第一，从出口中心度来看，机电设备、纺织鞋服和家具类是支撑出口的核心品类，不同省份在这些品类上的中心度高低差异明显。第二，从对美 出口依赖度来看，大部分省市总体依赖度不高，大部分省份在主要品类上的依赖度低于5%，另外，沿海地区整体呈现出产业链多元、出口商品 类别 ...

Summary of Conference Call Company and Industry - The conference call pertains to a company in the apparel industry, specifically focusing on intimate wear and related products. Key Points and Arguments 1. **Revenue Growth**: The company reported a revenue of RMB 30.1 billion for 2024, representing a 9% increase from RMB 27.57 billion in 2023 [1][5][6]. 2. **Gross Margin Decline**: The gross margin decreased from 47.5% in the previous year to 45.7% in 2024, attributed to lower margins from industrial projects compared to core business [6][7]. 3. **Profit Increase**: The company's profit increased significantly, from approximately RMB 42 million in the previous year to RMB 126.1 million in 2024, marking a twofold increase [6][10]. 4. **Dividend Distribution**: The company initiated dividend payments for the first time post-pandemic, with a distribution of HKD 1.6 per share [6][10]. 5. **Sales Strategy Shift**: A strategic shift from self-operated to a combination of self-operated and joint-operated models was implemented, leading to a GMV of RMB 15.7 billion in 2023 [4][9][22]. 6. **Market Positioning**: The company aims to strengthen its market position in key provinces, focusing on both online and offline sales channels [19][21]. 7. **Brand Marketing Initiatives**: Significant investments in brand marketing were made, including partnerships with national sports teams and extensive advertising campaigns across various platforms [20][21]. 8. **Product Diversification**: The company introduced new product lines and maintained a focus on high-quality offerings, with a notable increase in sales for certain brands [11][25]. 9. **E-commerce Growth**: The e-commerce segment showed substantial growth, with a GMV increase of 100% year-over-year, indicating a strong online presence [22][42]. 10. **Inventory Management**: Effective inventory management strategies were highlighted, with a reduction of RMB 200 million in old inventory, contributing to improved gross margins [39][40]. Other Important but Possibly Overlooked Content 1. **Operational Efficiency**: The company emphasized improvements in operational efficiency and cost control, which contributed to better profit margins despite revenue challenges [9][15]. 2. **Future Outlook**: The management expressed optimism about future growth, particularly in e-commerce and market expansion in lower-tier cities [28][32]. 3. **Asset Utilization**: The company is actively working on asset optimization, including the sale of underperforming properties to enhance cash flow [43][44]. 4. **Shareholder Returns**: Discussions on shareholder returns included a focus on dividends rather than share buybacks, with a projected return rate of approximately 6% based on current share prices [44]. This summary encapsulates the essential insights from the conference call, highlighting the company's performance, strategic initiatives, and future outlook within the apparel industry.

以下文章来源于最人物 ，作者北方女王。 最人物 . 有人的地方，就有最人物。 作者：北方女王 来源：最人物（ID：iiirenwu） 11年前某个夏日清晨，都市丽人在香港上市，自此成为"中国内衣第一股"，风头无两。 创始人郑耀南在上午 9点半准时敲响了上市铜锣，马上步入不惑之年的他意气风发，在上 市路演整个过程中，他的身旁一直站着代言人林志玲。 志玲姐姐一句 "新的内衣新的你，我是都市丽人，你呢"广告语，让其成为家喻户晓的内 衣品牌。 上市后，都市丽人的市值一度高达 200亿，被视为"中国版维密"。 随着都市丽人的上市，郑耀南完成了华丽转身，曾经的沃尔玛商场保安在不到 20年的时 间里，蜕变为上市公司董事长兼CEO。 声势最盛时，郑耀南不会想到，日渐拥挤的内衣市场，正在向都市丽人涌来。 01 近日， "中国内衣第一股"都市丽人 正式官宣古力娜扎为全新品牌代言人， 也发布正面盈利报 告，2024年利润飙升至1.19亿元。 自2021年年底郑耀南回归CEO职位后，他陆续推出的改良措施，让都市丽人的经营状况有所回 升。 去年都市丽人的收入增长，主要来源于地产业务，副业生意红火，主业内衣仍面临巨大挑战。 都市丽人诞生 ...

Core Viewpoint - Despite achieving profitability, the survival situation of the traditional lingerie brand Urban Beauty remains challenging due to reliance on non-core revenue sources and declining main business performance [1][2]. Financial Performance - Urban Beauty reported a total revenue of 3.01 billion yuan in 2024, representing a year-on-year increase of 9.18% [1]. - The net profit attributable to shareholders reached 126 million yuan, marking a significant year-on-year growth of 196.96% [1]. - The revenue from industrial projects and logistics contributed 455 million yuan, accounting for approximately half of the profit from this segment [2]. Revenue Sources - The increase in revenue was primarily driven by the sale of factory buildings, which provided a one-time boost to financial performance [1][2]. - The company’s e-commerce gross merchandise volume (GMV) exceeded 1.5 billion yuan, showing a growth of over 100% year-on-year [2]. - Urban Beauty's main business revenue from intimate apparel recorded 2.555 billion yuan, a decline from 2.643 billion yuan in 2023 [3][4]. Cost Management and Challenges - The decline in main business revenue was attributed to the reduction of low-efficiency self-operated e-commerce platforms, leading to a decrease in related e-commerce income [4]. - The gross profit margin for intimate apparel decreased by 0.7 percentage points to 47.3% due to increased promotional activities and inventory clearance efforts [5]. Strategic Adjustments - Urban Beauty is shifting its focus from purely sales volume to the profitability of franchisees, with plans to increase the number of stores to over 5,000 by 2025 [5]. - The company is transitioning its ordering model from a futures-based system to a real-time inventory system to enhance product sell-through rates and reduce channel inventory [5]. Future Outlook - Urban Beauty is exploring opportunities in overseas markets, particularly through cross-border e-commerce in Southeast Asia, with plans to finalize strategies in the near future [6].

Core Insights - Urban Beauty, known as "China's first lingerie stock," reported a revenue of 3.01 billion yuan for 2024, marking a year-on-year increase of 9.18% and a net profit of 126 million yuan, up 196.96% [2][4] Revenue Breakdown - The revenue growth was significantly driven by over 300 million yuan from the sale of properties, while the core business of intimate apparel saw a slight decline in sales [2][5] - The main business, intimate apparel, generated 2.555 billion yuan, a slight decrease from 2.643 billion yuan the previous year [4][5] - Non-core business revenues included 132 million yuan from logistics and 323 million yuan from industrial project sales [4] Store Expansion and Strategy - Urban Beauty opened 850 new stores in 2024, bringing the total to over 4,500, with plans to exceed 5,000 stores by the end of the year [2][8] - The company is focusing on a "strong county in major provinces" strategy, targeting six populous provinces for store openings [9][10] E-commerce and Market Share - The company reported that its e-commerce gross merchandise volume (GMV) exceeded 1.5 billion yuan, with a year-on-year growth of over 100% [5] - A shift in e-commerce strategy has occurred, moving from self-operated to partnerships with large merchants, which is expected to drive further growth [5] Operational Adjustments - Urban Beauty has adjusted its ordering system from a futures model to a spot model, allowing for better inventory management and increased profitability for franchisees [10] - The company aims to enhance store efficiency and ensure sustainable growth for franchisees, with a focus on improving the overall health of the franchise network [10]

Core Viewpoint - The company, Urban Beauty (02298), reported unexpectedly strong financial results amidst a challenging macroeconomic environment, showcasing its robust recovery in profitability and significant growth in e-commerce sales [1][2]. Financial Performance - In 2024, Urban Beauty achieved revenue of RMB 3.01 billion, a year-on-year increase of 9.18% [1] - The profit attributable to the company's owners reached RMB 126 million, reflecting a remarkable year-on-year growth of 196.96% [1]. E-commerce Growth - The company's e-commerce GMV surpassed RMB 1.5 billion, with a year-on-year growth exceeding 100% [1] - The innovative "joint venture e-commerce" model has effectively reduced channel costs and improved overall business gross margins [1]. Store Expansion Strategy - Urban Beauty opened 850 new stores, bringing the total to over 4,500, focusing on third and fourth-tier cities and county markets [2] - The company aims to enhance its market share in key provinces such as Henan, Shandong, and Sichuan through a "strong county" strategy [2]. International Expansion - The company is exploring cross-border e-commerce opportunities in Southeast Asia rather than opening physical stores abroad [3]. R&D and Product Innovation - Urban Beauty has accumulated 561 patents, focusing on innovative products like invisible bras and lightweight down jackets [3]. - The brand positions itself as "good yet affordable," integrating deeply with sports and entertainment sectors for enhanced brand recognition [3]. Marketing and Supply Chain Optimization - The company has optimized its supply chain management, introducing flexible ordering and rapid replenishment systems, leading to a 200% year-on-year increase in instant sales [4]. - Urban Beauty's marketing strategy includes extensive high-speed rail media coverage across over 29 provinces and 160 cities [4]. Future Revenue Streams - The industrial park project completed in 2024 is expected to contribute to revenue in 2025, enhancing profitability and cash flow [5]. Shareholder Returns - Urban Beauty has shown commitment to shareholder returns with a total dividend payout of HKD 11.24 million, maintaining a dividend payout ratio of approximately 30% since the pandemic [5].

Group 1 - The core viewpoint of the article highlights the significant growth in revenue and profit for the company, with a revenue of 3.01 billion yuan in 2024, representing a 9.18% increase year-on-year, and a net profit attributable to shareholders of 126 million yuan, up 196.96% [2] - The company's revenue growth is primarily attributed to the expansion of its e-commerce business, which has significantly improved its market share in China [2] - The company has made strides in brand building, product development, channel expansion, and supply chain management, contributing to overall performance improvement [2] Group 2 - The company reported that its e-commerce GMV exceeded 1.5 billion yuan, with a year-on-year growth of over 100% [2] - The company opened more than 850 new stores, bringing the total to over 4,500, with the number of pure cotton home brand stores exceeding 100 for the first time [2] - The company has accumulated 561 patents as of 2024, including products like soft size invisible underwear and black gold lightweight down clothing [2] Group 3 - The company optimized its supply chain management by introducing a flexible ordering system and rapid replenishment mechanism, effectively reducing inventory risk and improving cash flow turnover efficiency [3] - Instant sales for the company grew by over 200% year-on-year in 2024, addressing consumer demand for quick shopping [3] - The company plans to continue deepening its presence in the Chinese market, particularly in shopping centers and e-commerce channels, with expectations of doubling the number of pure cotton home brand stores and performance by the end of 2025 [3]