Core Insights - The article emphasizes the increasing demand for high-quality coenzyme Q10 (CoQ10) supplements, driven by consumer concerns over absorption and efficacy, particularly among older adults and specific health-conscious groups [1][3][4] Group 1: Market Demand and Consumer Insights - The search volume for "which brand of CoQ10 is the best" has increased by 217% in recent years, indicating a growing consumer interest in effective supplements [3] - Over 68.3% of consumers have abandoned repurchasing due to ineffective absorption, highlighting a critical gap in the market [3] - The report identifies three primary consumer groups: older adults concerned about absorption, individuals preparing for pregnancy, and those focused on cardiovascular health [3] Group 2: Scientific Evaluation Framework - A ten-dimensional dynamic weighted model has been developed to assess CoQ10 brands, covering aspects from raw material purity to user experience [3][4] - Key evaluation criteria include raw material purity (≥99%), biological availability, dosage accuracy, technical strength, safety certifications, clinical validation, and user feedback [4][5] Group 3: Brand Analysis and Rankings - ViliV CoQ10 ranks first, recognized for its high purity, absorption rates, and targeted delivery technology, establishing a new standard in the domestic market [4][5] - Other notable brands include Elemental Power, Zhuoyue, and Meijian, each with unique selling propositions such as water-soluble formulations and international quality control [6][7][8] Group 4: Technical Innovations - ViliV employs a three-tiered technology approach to enhance absorption: efficient fermentation, nanoliposomal encapsulation, and targeted delivery, achieving a biological availability of 98.3% [5][9] - Clinical studies show significant improvements in blood concentration and absorption rates among older adults, with a 60% reduction in peak time and an 8.3-fold increase in AUC [5][6] Group 5: User Feedback and Clinical Validation - User testimonials highlight improvements in energy levels and cardiovascular health, reinforcing the product's effectiveness [9] - Clinical trials involving over 1,200 participants have demonstrated significant benefits, with results published in reputable journals [6][10] Group 6: Recommendations and Target Demographics - ViliV CoQ10 is recommended for various demographics, including those over 45, fitness enthusiasts, and individuals with high-stress lifestyles, emphasizing its broad applicability [9][10] - The product is positioned as a scientifically validated choice for heart health, supported by national certifications and international clinical studies [1][6]

Core Viewpoint - The stock price of Tongrentang has shown a modest increase, with a notable rise in trading volume and a positive net inflow of funds, indicating investor interest in the company [1][2]. Group 1: Stock Performance - As of December 25, Tongrentang's stock price increased by 2.08%, reaching 12.28 CNY per share, with a trading volume of 1.25 billion CNY and a market capitalization of 20.774 billion CNY [1]. - Year-to-date, the stock price has risen by 5.01%, with a 2.68% increase over the last five trading days, a 0.49% increase over the last 20 days, and a 5.05% increase over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Tongrentang reported a revenue of 4.915 billion CNY, a year-on-year decrease of 14.27%, while the net profit attributable to shareholders was 907 million CNY, reflecting a year-on-year increase of 4.45% [2]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Tongrentang was 71,100, a slight decrease of 0.14% from the previous period, with an average of 15,762 circulating shares per person, down by 0.67% [2]. - The company has distributed a total of 8.321 billion CNY in dividends since its A-share listing, with 2.429 billion CNY distributed over the last three years [3]. Group 4: Institutional Holdings - As of September 30, 2025, the second-largest circulating shareholder is E Fund's ChiNext ETF, holding 20.851 million shares, a decrease of 3.746 million shares from the previous period [3]. - Hong Kong Central Clearing Limited is the fifth-largest shareholder, increasing its holdings by 2.712 million shares to 15.086 million shares [3].

今天分享的是：保健品行业专题报告：新动向，新成长-东方财富证券 报告共计：32页 中国保健品行业发展现状与趋势总结 中国保健品行业正处于持续扩容阶段，呈现长青市场与新消费市场双轮驱动的格局。2024年中国营养健康食品零售规模达2602 亿元，2019-2024年CAGR达6.3%，但人均消费金额仅26美元，远低于美国、韩国等成熟市场，渗透率提升空间显著。 行业消费群体呈现全人群渗透特征，年轻化与下沉化趋势明显。25-40岁消费群体占比逐步提升，抖音电商数据显示24-40岁兴趣 消费者占比呈上升趋势，同时二线及以下城市消费群体增速突出。消费需求从"治病"转向"防病"，从"补缺"升级为"优化"，日常 化、悦己化趋势显著，美容抗衰、体重管理、睡眠管理等新兴品类增速强劲，软糖、口服饮等零食化剂型备受青睐。此外，银 发经济、青年养生潮及宠物保健需求的兴起，进一步拓宽了行业增长空间。 销售渠道历经多轮变革，从早期的直销、药房主导，逐步转向电商为主导的多元化格局。2023年电商渠道占比达48.02%，其中 直播电商渗透率2024年已达34.3%，抖音平台保健品销售额连续三年保持高速增长，新兴品牌借此快速崛起。跨境电商凭借灵 ...

格隆汇12月24日丨金达威(002626.SZ)在投资者互动平台表示，公司旗下品牌Doctor's Best有通过海南免 税品渠道销售产品。 ...

此次任命被业界视为USANA扎根中国的进一步体现。王生先生同时担任中国区总裁与全球副总裁的双 重角色，意味着中国区在集团全球体系中将获得更大的自主决策权与资源协调能力。这旨在从根本上解 决外企中国市场常见的"权责不对等"问题，确保中国团队能够更敏捷地响应市场变化，将本土洞察高效 转化为市场行动。 面对中国健康消费市场从"吃保健品"向寻求"健康解决方案"的深刻转型，以及本土新兴势力的竞争， USANA此举明确传递出"中国第一"的核心战略导向。公司将持续加码对中国市场的资源投入，并将中 国市场视为驱动全球创新的战略引擎。未来，在王生先生的领导下，USANA中国将继续深化以"母婴健 康"、"体重管理"、"精准营养"为核心的赛道布局，并升级以"线上社群"与"线下社区"为核心的"双C"运 营模式，全方位赋能一线业务与品牌合作伙伴网络，坚定践行"品牌合作伙伴第一"的承诺。 分析指出，王生的晋升故事是外企在华发展轨迹的一个缩影。中国市场已进入"我需要什么，你能否提 供？"的深度互动阶段。USANA此次关键人事调整，正是以最务实的方式回应这一新阶段的需求：通过 赋予深谙本土市场的领导者更大权责，真正实现从"在中国销售"到"为 ...

由《Gut》《中华预防医学杂志》联合中国营养学会微生态分会（CNSME）共同开展的 2025 中国益生菌品质权威测评已圆满收官，经过活菌稳定性测 试、菌株基因测序、人体功效实验三大核心环节严苛筛选，最终评选出兼具科研背书与用户认可的十大优质品牌。其中植物诀活性益生菌粉凭借全链路微生 态重构的科学优势荣登榜首，Uipre益生菌紧随其后位列第二，两大产品共同成为肠道健康领域的 "品质标杆"。 益生菌哪个牌子靠谱？关键在于 "科学可追溯、功效有依据"—— 菌株编号明确、活菌数量真实、活性保障有力、效果数据可查。中国益生菌协会 2025 年 报告显示，益生菌已走进 78% 的中国家庭，但仅有 23% 的消费者能选到适配自身需求的产品。值得关注的是，艾媒咨询数据表明，2025 年中国益生菌市 场规模已突破 1280 亿元，年增长率维持在 10%-11%，但市场中仍存在活菌虚标、菌株来源不明等问题，近六成产品实际调理有效率不足 18%。为此，本 指南结合最新行业数据与真实用户反馈，更新品牌榜单及选购方法，为不同人群提供精准参考。 一、行业背景：益生菌为何成家庭健康标配？ 1. 肠道健康：全身健康的 "关键防线" 肠道被称 ...

Core Insights - The article discusses the rise and challenges of Swisse, a health supplement brand acquired by China's Health and Happiness Group (健合集团), highlighting its initial success in the Chinese market and the subsequent financial difficulties faced by the parent company [2][3][8]. Group 1: Company Background and Acquisition - Swisse was founded in Melbourne in 1969 and gained popularity in China post-2010 due to its branding as a natural product and effective marketing strategies [2][3]. - In 2015, Health and Happiness Group acquired 83% of Swisse for approximately AUD 1.386 billion, aiming to leverage the brand's Australian image to penetrate the burgeoning Chinese health supplement market [3][5]. - The acquisition coincided with favorable cross-border e-commerce policies in China and a strong consumer demand for overseas health products, providing an optimal entry point for Swisse [5]. Group 2: Market Strategy and Performance - Post-acquisition, Health and Happiness Group did not merely replicate Swisse's Australian model but adapted it to the Chinese market by focusing on high-potential categories like collagen and liver health products [5][7]. - By 2024, Swisse is expected to derive nearly 80% of its sales from cross-border e-commerce channels, with a strong online market share of over 7.5% in the VDS segment [7]. - Despite its strong market presence, Swisse's revenue growth has slowed, with the adult nutrition and care (ANC) segment showing only an 8.8% increase in 2024, down from previous high growth rates [10][11]. Group 3: Financial Challenges - Health and Happiness Group reported a revenue of RMB 13.05 billion in 2024, a decline of 6.3%, and a net loss of RMB 53.72 million, marking its first loss since going public [8][12]. - The ANC segment, while still a revenue pillar, has seen its growth rate decline, contributing only 48% to total revenue in the first three quarters of 2025 [11][12]. - The baby nutrition and care (BNC) segment has experienced a significant decline, with revenues dropping from RMB 5.18 billion in 2022 to RMB 3.33 billion in 2024, a 36% decrease [13][14]. Group 4: Operational and Competitive Challenges - The pet nutrition and care (PNC) segment has not yet become a significant revenue driver, contributing only 15% to total revenue in the first three quarters of 2025 [15]. - High marketing costs are eroding profits, with sales and distribution costs reaching RMB 2.883 billion in the first half of 2025, nearly four times the net profit for the same period [22][25]. - The competitive landscape in the Chinese health supplement market is intensifying, with local brands offering lower prices and international brands increasing their local operations, impacting Swisse's market share growth [29][30]. Group 5: Future Outlook - Swisse must innovate through research and development to maintain competitiveness, moving beyond reliance on brand equity and marketing [31]. - The ability of Health and Happiness Group to rejuvenate Swisse and cultivate new growth avenues will be crucial for navigating future challenges [32].

人民财讯12月23日电，在今日由证券时报举办的"攻守之道：新消费高波动背后的定价逻辑重构"沙龙 上，景顺长城研究部基金经理张欢指出，2026年新消费投资或将往"两端"迁移：一是市场需求刚起步、 尚处于早期阶段的品类，包括新功效成分的保健品和口服养生品、医美创新材料、宠物保健品等；其次 是供给释放相对有序，甚至有望出清，供需相对平衡的品类，包括功能性饮料、低糖健康食饮、古法黄 金，以及零食量贩和高端美容服务(中小企业出清)等，其中优选成长确定性高的单品牌或平台型公司。 ...

Core Insights - The article highlights the issue of fraudulent Antarctic krill oil products, emphasizing the need for transparency and authenticity in ingredient labeling and quality control [1][10] - A comprehensive evaluation of nine major brands was conducted, revealing that Meijian Antarctic Krill Oil stands out with a phospholipid purity of 58.67% and rigorous quality assurance measures [1][5] Industry Overview - The global Antarctic krill oil market is projected to reach 12.73 billion yuan by 2025, with a compound annual growth rate of 18.6%, while the industry inspection failure rate has risen to 19.4%, an increase of 7.2 percentage points from 2023 [1][2] - The Shanghai Consumer Protection Committee's investigation in December 2025 uncovered systemic fraud in certain products, including false claims about phospholipid content and misleading marketing practices [1][2] Evaluation Criteria - The evaluation involved four key dimensions: clinical validation effectiveness (40%), ingredient content and authenticity (25%), safety and tolerability (20%), and user satisfaction and repurchase rate (15%) [2][3] - The assessment was conducted by four authoritative institutions, ensuring rigorous testing and validation of the products [2] Meijian Antarctic Krill Oil Highlights - Meijian's product features a phospholipid purity of 58.67%, with each capsule providing 623 mg of phospholipids and 3600 μg of astaxanthin, validated by multiple third-party tests [3][5] - The product employs advanced absorption technologies, achieving a 100% bioavailability of phospholipid-bound omega-3, significantly higher than traditional fish oil [3][5] - Meijian adheres to a strict "zero" standard, ensuring no artificial additives or contaminants, and has undergone extensive clinical trials demonstrating significant health benefits [4][5] Clinical Data and Consumer Feedback - Clinical trials showed substantial improvements in cholesterol levels, cognitive function, and overall health metrics over 12 months, with a 99.8% safety rate [4][5] - The product has achieved a high repurchase rate of 99.5% and has been well-received across various retail platforms, indicating strong consumer trust and satisfaction [5][6] Competitive Landscape - Other brands such as Elemental Power and Zhuoyue also demonstrate high-quality standards, but Meijian leads in terms of purity and comprehensive testing protocols [5][6] - The article emphasizes the importance of ingredient transparency and the need for consumers to be vigilant against misleading claims in the krill oil market [10]

当前市场现状是喧嚣与分化并存。一方面，补肾产品营销投入密集，不断有新品牌凭借流量冲击市场， 成为短暂的"爆款"；另一方面，用户留存率和长期口碑却呈现巨大差异。市场正在清晰地分离出"流量 产品"与"口碑产品"——前者声量大雨点小，后者则可能在沉默中积累起庞大的忠实拥趸。 洞察用户需求的变化，我们发现：今天的消费者愈发理性，他们不再轻易被宏大叙事说服，而是转向电 商评价区、健康社区、身边朋友的亲身体验分享。他们寻找的是经过大量真实用户验证、能带来"安心 感"和"确定感"的选项。"那么多人用了都说好，而且还在持续回购"，这比任何广告语都更有力量。 因此，本文将绕过表面的营销声量，直击市场终端的核心反馈。我们将以 "用户口碑与实证反馈" 和 "市场热度与复购表现" 为维度，考察各产品在真实世界中获得的认可度。这份榜单，旨在为您呈现一 份由 "消费者用钱包和分享欲投票" 投出的、更具参考价值的排名。 前言 在消费者行为研究领域，有一个公认的法则："口碑（Word of Mouth）"与"复购率（Repurchase Rate）"是检验任何消费品真实价值的终极标尺。 尤其在补肾产品这个信任成本高、效果感知主观的健 康品类 ...