美国咖啡爱好者原本指望，唐纳德・特朗普总统上月调整关税的举措能很快让日常咖啡的价格降下来， 如今看来恐怕要失望了。 特朗普政府今年夏季起对多国征收大范围进口关税，涉及巴西等主要咖啡生产国，这直接推高了生咖啡 豆的价格。但经纪商、贸易商及行业专家表示，新增成本目前仍在供应链中逐步传导，尚未波及终端消 费者。 换句话说，美国咖啡零售价走高，主要是受去年咖啡豆供应短缺的影响 —— 截至今年 3 月的 12 个月 内，生咖啡豆价格一度翻倍。 独立咖啡分析师克里斯托弗・费兰表示："目前我们看到的大部分零售端涨价，并非是对关税政策的反 应，而是与去年以来生豆市场价格创下历史新高有关。" 费兰与其他行业专家估算，生豆价格变动传导至消费者至少需要 9 个月时间，这其中部分原因在于咖啡 豆烘焙周期以及价格谈判流程。这意味着，咖啡零售价要回落，很可能要等到明年年中。 美国是全球最大的咖啡消费国，该国消费者将不得不更长时间承受高价咖啡。对于白宫而言，想要在 2026 年 11 月美国中期选举前遏制食品通胀，也将是一项棘手的任务。 此前，由于选民对食品价格上涨的不满情绪，民主党在新泽西州、纽约州和弗吉尼亚州的选举中胜出， 特朗普因此 ...

这是11月22日在土耳其伊斯坦布尔独立大街拍摄的曼达巴特马兹咖啡店所在巷道的入口。新华社记者 刘磊 摄 蓝色火苗包裹着一把小铜壶，壶中的咖啡渐渐升起细密的气泡。咖啡香气随之漫出，萦绕在巷道之间。这家名为"曼达巴特马兹"的土耳其咖啡 店，藏身于土耳其伊斯坦布尔独立大街旁一条不起眼的小巷里。 店主坎·奥兹曼从父辈手中接过这家已有近60年历史的小店，为了延续传统，至今仍坚持用铜壶和小火煮咖啡。除此之外，奥兹曼说："土耳其咖 啡不需要过滤，要完整地享用。" 土耳其咖啡历史悠久，于2013年被列入联合国教科文组织人类非物质文化遗产名录。这家街边咖啡店所延续的正是这一份传统。 中国云南高黎贡山区地处世界黄金咖啡种植带。高黎贡山寨子里长大的咖叔本名李金合，今年53岁，云南省保山市隆阳区芒宽彝族傣族乡烫习村 人，在芒宽乡横跨怒江的双虹桥边经营"路边咖啡馆"已有14年。 喷枪的火舌增温，虹吸壶内的咖啡粉随沸水翻动。峡谷里独特的咖啡萃取方式和怒江水一同携着咖香，流向远方。随着"火烧咖啡"走红网络，咖 叔也有了知名度。 周末上午是"路边咖啡馆"的高峰时刻，本就不大的店面人满为患，端着咖啡寻座的游客索性站着品鉴"火烧"的滋味。游客们 ...

12月1日，南明区森林公园的猴子咖啡店内咖啡醇香与创业热情在此交融碰撞。由南明区委统战部、区 政务服务中心、区工商联联合主办的"啡常一课——咖啡主理人带您开好店"活动，以"经验+政策+资 源"精准赋能，为10余家创业者破解成长难题。氤氲咖香里折射出南明区蓬勃生长的咖啡产业未来图 景。 南明区政务中心主任蒲庆表示，此次活动是深化"企业之家"服务品牌、优化营商环境的生动实践。未来 南明"企业之家"将持续深化跨部门协同，为咖啡产业注入"政策咖啡因"，助力咖啡创业人在南明落地生 花。 贵州日报天眼新闻记者 何欣 编辑 罗丹 二审 谌思宇 猴子咖啡主理人曹梓涵以"人生是旷野"的创业箴言点燃全场。她分享了从商业模式深度剖析、创业初期 流量积累的艰辛，到参与打造"为了一杯咖啡来贵阳"的城市IP实战经验。从门店选址装修的黄金法则、 产品精准定位的诀窍，到客户深度维护与成本精细控制，曹梓涵的分享宛如一本开办咖啡店"创业宝 典"。"创业是一个过程，是探索未知的旷野"，她鼓励新手创业者，"初创小白，建议先从行业了解起 步，哪怕是从一个服务员做起。" 活动现场，政府与企业间的"连心桥"——"企业之家"平台成为焦点。区政务服务中心副主 ...

Investment Rating - The report maintains a rating of "Buy" for the company [6][9]. Core Insights - The company is focusing on growth and market share, steadily expanding its store count to lay a solid foundation for long-term development [2][9]. - The company reported a significant increase in revenue and gross merchandise volume (GMV) for Q3 2025, with revenue reaching 15.3 billion RMB, a year-on-year increase of 50.2% [9]. - The company is experiencing short-term pressure on profit margins due to a significant increase in delivery costs, which has impacted operating profit margins [9]. Financial Summary - Total revenue projections for the company are as follows: - 2023: 24,903 million RMB - 2024: 34,475 million RMB (growth of 38.44%) - 2025E: 50,340 million RMB (growth of 46.02%) - 2026E: 59,811 million RMB (growth of 18.82%) - 2027E: 66,341 million RMB (growth of 10.92%) [4] - Net profit projections are as follows: - 2023: 2,848 million RMB - 2024: 2,932 million RMB (growth of 2.94%) - 2025E: 3,853 million RMB (growth of 31.44%) - 2026E: 4,713 million RMB (growth of 22.30%) - 2027E: 5,320 million RMB (growth of 12.90%) [4] - The company’s operating profit margin (OPM) for Q3 2025 was reported at 17.5%, a decrease of 6.0 percentage points year-on-year [9]. Store Expansion and Sales Performance - As of Q3 2025, the company operates 29,214 stores, an increase of 36.88% year-on-year, with a net addition of 3,008 stores in Q3 [9]. - Same-store sales for self-operated stores increased by 14.4% in Q3 2025, driven by a surge in demand from delivery services [9]. Cost Structure and Profitability - The company is facing challenges with rising delivery costs, which have negatively impacted profit margins. The delivery cost ratio increased to 18.90%, a year-on-year increase of 9.79% [9]. - The company plans to optimize its cost structure through refined operations and digital capabilities to maintain healthy profit margins despite rising costs [9].

Core Insights - The article highlights the emergence of "Konggu Wujie," a coffee shop in Guiyang High-tech Zone, as a new cultural and commercial space that integrates coffee with reading and business activities [1][3][4] - The founders, with extensive backgrounds in the coffee and new media industries, emphasize the unique potential of Guiyang's coffee market, supported by government initiatives [3][4][6] - A recent government policy aims to establish Guiyang as a nationally influential coffee consumption destination by 2027, which is expected to accelerate the growth of the local coffee industry [6] Company Overview - "Konggu Wujie" was founded by Chen Chun and Guo Jianwei, who bring over 20 years of coffee industry experience and expertise in new media, respectively [3] - The coffee shop aims to create a "third space" that transcends traditional commercial boundaries, offering a platform for various cultural and business interactions [3][4] Industry Context - Guiyang High-tech Zone is identified as a vibrant economic area with a high demand for quality leisure spaces, making it an ideal location for coffee shops [4] - The local government's recent policy to promote the coffee industry has been positively received, indicating a strategic move to harness the growth potential of the coffee sector [6] - The coffee culture in Guiyang is expected to flourish, contributing to the city's tourism and cultural identity by 2027 [6]

Core Points - The 2025 Guangdong Province Barista Skills Competition and the Guangdong-Hong Kong-Macao Youth Barista Skills Innovation and Entrepreneurship Exchange Event will be held from November 28 to 30 in Jiangmen [1] - The event is co-hosted by the Guangdong Provincial Human Resources and Social Security Department and the Jiangmen Municipal Government, featuring 23 teams and 67 participants from Guangdong, Hong Kong, and Macao [1] - The competition aims to promote the development of skilled barista talent and the high-quality growth of the coffee industry, fostering an atmosphere that values and respects skills [1] Event Details - The theme of the competition is "Gathering Coffee in the Overseas Chinese Capital, Skills for a Better Guangdong" [1] - The competition includes two main modules: "Coffee Latte Art" and "Coffee Cup Tasting," assessing participants' professional skills and overall qualities [1] - Winners of the finals will receive vocational skill level certificates as Barista Technicians (Level 2) or Senior Workers (Level 3) according to national standards [1]

Core Insights - The 138th Canton Fair opened on October 15, showcasing the theme "Mutual Benefit Worldwide: Guangdong Foreign Trade for a Thousand Years" with record-breaking participation and exhibition space [2][3] - The fair features over 3.2 million exhibitors and 74,600 booths, marking a historical high, with more than 3,600 companies participating for the first time [2] - The event highlights the evolution of the Canton Fair from its inception in 1956 to its current status, reflecting China's transformation towards innovation, intelligence, and sustainability in foreign trade [2] Exhibition Highlights - The exhibition area reached 1.55 million square meters, with over 110,000 new products expected to be showcased, including 35,300 smart products [3][4] - The fair introduced a smart medical section featuring innovations such as medical robots and intelligent diagnostic tools, with over 60% of new products applying new technologies [3] - The event also implemented advanced services, including a comprehensive service counter at the airport and seamless access for international visitors, enhancing the overall experience [4] Technological Innovations - The fair showcased the world's first 6th generation COFE+ fully intelligent coffee machine, which combines various technologies to redefine global coffee standards [4] - The use of Bluetooth, Beidou, and 5G technology for navigation within the exhibition halls demonstrates the fair's commitment to integrating cutting-edge technology [4] - The Canton Fair is positioned not just as a trading venue but as a catalyst for industry transformation and a platform for innovative applications [4]

Domestic News - As of June 2025, China's foreign financial assets reached $110,645 billion, with foreign liabilities at $72,555 billion, resulting in a net foreign asset of $38,090 billion [1] - The China Railway Group reported that on October 3, the national railway sent 18.16 million passengers, maintaining a high level of passenger flow for four consecutive days, with an expected 18.2 million passengers on October 4 [1] - The Shanghai Railway Group indicated that during the National Day and Mid-Autumn Festival holiday, it is expected to send 3.85 million passengers on October 4, a 3.9% increase compared to the same day last year [2] - The China Geographic Information Industry Association projected that the total output value of the national geographic information industry will reach nearly 1 trillion yuan by 2025, growing nearly 30% from the end of the 13th Five-Year Plan [2] International News - Boeing is expected to delay the delivery of the 777X aircraft again, with the new estimated delivery time pushed from 2026 to early 2027, potentially resulting in losses of billions of dollars [5]

Core Insights - Guiyang is emerging as a new "Coffee City" with significant growth in independent coffee shops and a unique local flavor, attracting tourists and creating a vibrant coffee culture [1][2][6] - The success of Guiyang's coffee scene is attributed to low chain density, affordable rents, and a strong community that fosters skill sharing and innovation among baristas [2][3] - Despite its rapid growth, Guiyang faces challenges such as a limited consumer base, a shortage of skilled operational talent, and supply chain issues due to its inland location [3][4] Group 1: Growth and Popularity - Guiyang has a coffee shop density of one for every 2,000 residents, with over 20 national champions emerging from the city [1] - The city has gained popularity on social media, with nearly 20 million views related to Guiyang coffee on platforms like Xiaohongshu [1] - The local football team representing Guiyang in a national tournament is named "Guiyang Coffee Team," highlighting the city's branding efforts [1] Group 2: Community and Culture - Independent coffee shops in Guiyang serve as training grounds for baristas, promoting a culture of collaboration and skill development [2] - The local coffee culture integrates unique local flavors, such as the "Folded Root Americano," which reflects the region's culinary heritage [1][2] Group 3: Challenges and Concerns - The rapid increase in coffee shops may dilute customer traffic, as the local population of 6.6 million may not sustain such density [3] - There is a scarcity of operational talent in areas like branding and digital marketing, which poses challenges for business expansion [3] - Supply chain issues, including reliance on external sources for coffee beans and logistical inefficiencies, hinder the growth of the coffee industry in Guiyang [3][4] Group 4: Policy and Future Development - Current policies to support the coffee industry in Guiyang need further refinement to address key issues such as talent acquisition and supply chain infrastructure [4] - Initiatives like the establishment of the Guiyang Coffee Industry Association and the launch of a bilingual coffee map indicate proactive steps towards industry development [6] - The city aims to redefine its cultural image through coffee, appealing to younger consumers and enhancing its tourism profile [6][7]

Core Insights - The article highlights the success story of a young coffee shop owner, Nafeis Dilixtati, in Urumqi, Xinjiang, who has integrated local culture with modern coffee trends, leading to significant popularity and customer engagement [3][4]. Company Summary - Nafeis Dilixtati opened her coffee shop, "A Coffee Shop," two years ago in southern Urumqi, and it has since gained over a million views on social media platforms [3]. - The shop features a menu that combines traditional coffee offerings with creative drinks inspired by local specialties such as apricots and melons [3][4]. - The shop has experienced a surge in popularity, leading to increased customer traffic and a need for quality control, prompting a temporary closure for adjustments [4]. Industry Summary - The coffee culture in Northwest China is evolving, with independent coffee shops thriving amidst a growing trend of cultural and deep travel experiences [5]. - Young entrepreneurs are increasingly viewing coffee as not just a business but a lifestyle, contributing to the development of the coffee industry in the region [5]. - The article mentions the emergence of various coffee-related businesses, including mobile coffee services in scenic areas, showcasing the diverse opportunities within the coffee sector in Xinjiang [5].