Core Viewpoint - JD Group founder Liu Qiangdong announced the official launch of the fresh beverage brand "Qixian Coffee," emphasizing the use of "only fresh milk" and recruiting partners nationwide [1] Group 1 - Qixian Coffee has already been established in Beijing and is expanding at a rate of 3 to 5 new stores per week [1] - The brand is expected to cover major districts in Beijing by the end of this year [1]

北京商报讯(记者何倩)11月17日，第3场京东品酒会在三亚保利瑰丽酒店举办。活动现场，京东正式推 出旗下现制饮品品牌"七鲜咖啡"。京东集团创始人、京东集团董事局主席刘强东在品酒会现场表 示："京东推出七鲜咖啡，只用鲜奶，希望为用户提供更新鲜、更好喝、更健康的咖啡体验。七鲜咖啡 面向全国招募合作商，希望随着七鲜咖啡在全国各地的开业，能够整体带动咖啡消费。" 据了解，目前七鲜咖啡已率先在北京落地，正以每周新开3—5家门店的速度稳步拓展，预计在今年年底 覆盖北京主要城区。 ...

记者丨贺泓源 实习生韦怡琦 编辑丨高梦阳 视频丨赵智豪 瑞幸看起来正为重回美国主板上市而努力。 同年4月，瑞幸承认财务造假。6月，该公司从纳斯达克退市并转入粉单市场。 前述变动潜台词是，瑞幸步入动荡期。2020年5月12日，钱治亚和刘剑因财务造假，先后被免去瑞幸 CEO和瑞幸COO职位，郭谨一由此接任CEO一职。 眼下，瑞幸似乎已经站起来了。 "经过内外部全面彻底的调查和严肃处理，事件相关的原股东和团队彻底退出，大钲资本作为新控股股 东和新管理团队全面接手，我们重塑了求真务实的企业价值观，重新打造了业务战略和发展模式，彻底 完成了历史切割。"郭谨一说。 业绩上也能说明这一点。二季度，瑞幸营收同比增长47.1%至123.6亿元；归母净利润同比增长43.6%至 12.5亿元。当期，瑞幸咖啡门店总数达到26206家。同时，瑞幸还在持续加快海外门店布局。 据厦门市工商联披露，在2025年厦门企业家日大会上，瑞幸咖啡联合创始人兼首席执行官郭谨一表示， 该公司在厦门市委市政府的指导下，正积极推动重回美国主板上市进程。"该项工作一旦完成，将成为 具有国际影响力的重大事件，也将进一步宣传厦门招商引资的新形象，成为宣传厦门卓越 ...

2019年5月，瑞幸咖啡在纳斯达克成功上市。不过到2020年，瑞幸咖啡因财务造假问题从纳斯达克退 市，随后钱治亚、陆正耀等人退出瑞幸咖啡，郭谨一担任董事长兼首席执行官。2021年全年，瑞幸共推 出113款全新现制饮品，其中4月推出的生椰拿铁成为瑞幸爆款产品，2021年销量超7000万杯。 11月12日，据多家媒体报道，瑞幸咖啡首席执行官郭谨一在厦门市一场活动上表示，瑞幸正积极推动在 美国主板的重新上市进程，一旦完成上市，有助于将厦门打造为更具吸引力的全球商业与投资目的地。 2022年后，瑞幸咖啡完成金融债务重组，通过椰云拿铁、酱香拿铁等联名产品，再度重获消费者市场关 注。 对此，瑞幸咖啡官方表示，瑞幸咖啡会持续关注美国资本市场，但公司目前对于重返主板上市没有确定 的时间表，瑞幸咖啡现阶段的首要任务仍是践行公司的业务战略、聚焦发展。证券时报记者亦从接近瑞 幸咖啡的知情人士处证实了此消息。 在经历了2024年同店销售负增长的低迷期后，瑞幸咖啡在今年展现出强劲的复苏势头。从2025年第二季 度财报来看，2025年第二季度，瑞幸咖啡总净收入为123.59亿元人民币，同比增长47.1%。二季度 GAAP营业利润同比增长 ...

郭谨一在由政府主办的活动中表示，在当地政府的指导下，瑞幸"正积极推动在美国主板的重新上市进 程"。他同时感谢了政府在瑞幸转型过程中给予的支持。然而，郭谨一并未在现场提供关于重返美股的 具体进展或时间表。 瑞幸咖啡的官方发言人随后在给媒体的一份声明中表示，公司"仍致力于美国资本市场"，但"目前没有 重返主板上市的明确时间表"。公司当前的重点仍然是战略执行、业务运营和提升品牌竞争力。(作者/ 于雷) 凤凰网科技讯 11月12日，自2020年因财务造假丑闻从纳斯达克退市后，瑞幸咖啡的回归之路似乎正迎 来关键节点。据CNBC报道，瑞幸咖啡联合创始人兼CEO郭谨一近日在厦门的一次企业家活动上透露， 公司正准备重返美国主板市场。 ...

瑞幸咖啡CEO：公司正准备在美国重新上市。 更多消息，持续更新中 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况 或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责任自负。 ...

Core Insights - The 8th China International Import Expo (CIIE) showcases China's commitment to openness amid a complex global trade environment, serving as a platform for over 150 countries to engage with Chinese brands [1][3] - Luckin Coffee's active participation at the expo highlights its role in "brand diplomacy," moving beyond traditional exhibition to create a strong global presence [1][3][4] Group 1: Brand Diplomacy and Global Presence - Luckin Coffee's involvement in multiple national pavilions at the expo, including hosting pop-up stores and participating in opening ceremonies, signifies its strong brand influence and industry impact [3][4] - The company's unique product offerings and culturally themed designs have attracted significant attention, enhancing foot traffic at various national pavilions [4][6] Group 2: Sustainable Supply Chain and Global Integration - Luckin Coffee's partnerships in coffee-producing countries like Brazil and Indonesia reflect a shift from being a mere buyer to a development partner, emphasizing sustainable supply chain practices [7][9] - The establishment of offices and support centers in Brazil, along with initiatives to support local coffee farmers, illustrates the company's commitment to building long-term, mutually beneficial relationships [7][9] Group 3: Future of Chinese Brand Globalization - Luckin Coffee's approach at the expo represents a new phase in Chinese brand globalization, focusing on capability integration rather than just product or capital export [10][12] - The company's efforts align with China's strategic goals for high-level openness and responsible brand image, showcasing the potential of the Chinese coffee market while fostering cultural and economic collaboration with partner countries [12][10]

Core Insights - Starbucks has officially announced the sale of its controlling stake in the Chinese market to the alternative asset management firm Boyu Capital, marking a significant shift in its operational strategy in China [2][4][5] - Boyu Capital will hold 60% of the joint venture, while Starbucks retains 40%, allowing the company to recover $4 billion from this transaction [2][4][5] - The decision to divest comes amid declining market share and increasing competition in the Chinese coffee market, where Starbucks' share has dropped from a peak of 42% in 2017 to 14% in 2024 [3][11] Company Background - Starbucks entered the Chinese market in 1999 through a joint venture model, gradually shifting to a wholly-owned model by 2017 [6] - The company has faced challenges in recent years, with a reported revenue of $2.958 billion in fiscal year 2024, a decline of 1.4% year-on-year, and a continuous drop in same-store sales [11][12] Market Dynamics - The competitive landscape in China has intensified, with local players like Luckin Coffee capturing significant market share through aggressive pricing strategies [11][12] - As of 2024, Luckin Coffee holds a market share of 35%, while Starbucks has around 14%, with Luckin operating over 24,000 stores compared to Starbucks' 8,000 [11][12] Strategic Adjustments - In response to market pressures, Starbucks has implemented localized strategies, including rare price reductions and a focus on expanding into lower-tier markets [12][13] - The company has entered 166 new county-level markets in fiscal year 2025, nearly doubling its previous efforts, and has adjusted its store model to smaller formats to better cater to these markets [12] Future Outlook - The partnership with Boyu Capital is seen as a move towards further localization and a potential pathway for Starbucks to regain lost market share and stabilize growth in China [13]

Core Insights - Starbucks has reintroduced the "Toffee Nut Latte" and "Holiday Red Cup" for the year, with significant changes to the Toffee Nut Latte, which is now developed by the Starbucks China team and features a sugar-free option with selectable sweetness [1] - The "flavor without added sugar" experience has been extended to the holiday limited edition beverage, enhancing consumer choice [1] Product Innovation - In April, Starbucks China launched the "True Flavor Sugar-Free" innovation system, separating flavor syrups into flavor beverage concentrates and syrups, allowing for a complete separation of flavor and sugar content [1] - This innovation aims to expand the coverage of different flavor directions on the coffee flavor wheel, enriching consumer options [1]

Core Insights - The coffee beverage market in China is expected to reach nearly 130 billion yuan by 2025, driven by increasing consumer acceptance and local product trends [1][2] - Despite market growth, coffee brands face challenges such as high costs, price pressures, product homogenization, and intensified competition from fast-food chains and convenience stores [1][2] Market Overview - The coffee market is experiencing steady growth, with independent brand stores accounting for over 60% of the total [2][6] - By September 2025, the number of coffee stores in China is projected to exceed 260,000, marking a 19.9% year-on-year increase [2] - The market is entering a deeper competitive phase, with a significant number of new coffee-related enterprises registered [2] Regional Distribution - The top three regions for coffee store numbers are East China (35.9%), South China (23.2%), and Southwest China (14.4%) [4] - Regions with less than 10% market share, such as Central and Northern China, are experiencing rapid growth, with store numbers increasing by over 20% year-on-year [4] Brand Dynamics - Independent brands are projected to account for 60.5% of coffee stores by 2025, while chain brands will make up nearly 40% [6] - Major chain brands like Luckin Coffee and Kudi Coffee are rapidly expanding, with store counts reaching 26,000 and 13,000 respectively [8] Product Segmentation - The coffee beverage category can be divided into commercial coffee and specialty coffee, with specialty coffee stores making up nearly 30% of the total [11] - Specialty coffee brands are facing challenges from low-priced commercial brands and rising operational costs [11] Consumer Trends - The coffee market is seeing a shift towards product diversification, with brands increasingly launching tea products to attract consumers [15][16] - Downstream markets, particularly in third-tier cities, are becoming strategic battlegrounds for coffee brands, with significant growth potential [18] Pricing and Competition - The average consumer spending on coffee has decreased from 41 yuan in September 2023 to 26 yuan in September 2025, driven by price wars among brands [20] - The proportion of coffee stores with average spending below 15 yuan has increased from 29.8% to 36.9% [20] Conclusion - The coffee beverage sector is experiencing growth alongside challenges such as high costs and price competition, with future opportunities in the release of consumer potential in lower-tier markets and advancements in local supply chains [22]