Core Insights - The relationship between manufacturers and distributors has undergone significant changes over the past two years, leading to a breakdown of the traditional partnership model that has existed for over 20 years [1][28] - The phenomenon termed "clearing big brands" is becoming increasingly common, where distributors abandon all first-tier brands while still managing other brands, indicating a shift in brand and channel dynamics [1][2][3] Group 1: Changes in Distributor Relationships - 2024 is referred to as the "year of fear of marriage" for manufacturers, as they struggle to recruit distributors, while 2025 is expected to be the "year of divorce," with many manufacturers terminating partnerships [1] - The "clearing big brands" phenomenon reflects a broader trend where distributors are opting out of first-tier brands due to profitability concerns, despite still operating with other brands [2][3] - The current market environment is characterized by a structural decline in volume, particularly affecting large single products, which are crucial for first-tier brands [20][21] Group 2: Market Dynamics and Trends - The relationship between manufacturers and distributors has shifted from a focus on mutual growth to a scenario where distributors prioritize profitability over sales volume [4][6][10] - The emergence of new supply chains and the decline in sales volume are leading to a situation where manufacturers are increasingly "bound by growth," resulting in price instability [10][11] - The "Coca-Cola phenomenon" describes how first-tier brands are becoming less profitable for distributors, as the direct supply model reduces the role of traditional distributors [14][17] Group 3: Future Strategies for Brands - First-tier brands must adapt to a mature market by enhancing brand strength and considering strategic partnerships with B2B platforms for distribution [24][25] - The focus should shift from deep distribution to leveraging high-potential channels, such as modern retail formats and e-commerce [25][31] - The role of distributors is evolving from traditional distributors to operators, emphasizing the need for them to adapt to new market realities and consider operating in niche markets [32][33]

公告称，公司的收益主要产生自快消品分销及销售，其中大部分为食品与饮料产品及提供物流、仓储及 其他服务。收益减少主要由于第三方品牌的分销收益减少约2260万令吉。第三方品牌的收益减少主要归 因于乳制品、糖果及包装食品减少约2940万令吉。 智通财经APP讯，双财庄(02321)发布截至2025年6月30日止6个月的中期业绩，该集团取得收益4.68亿令 吉，同比减少0.83%;净利润2079.8万令吉，同比增加45.61%;每股基本盈利2.08仙。 ...

公告称，公司的收益主要产生自快消品分销及销售，其中大部分为食品与饮料产品及提供物流、仓储及 其他服务。收益减少主要由于第三方品牌的分销收益减少约2260万令吉。第三方品牌的收益减少主要归 因于乳制品、糖果及包装食品减少约2940万令吉。 双财庄(02321)发布截至2025年6月30日止6个月的中期业绩，该集团取得收益4.68亿令吉，同比减少 0.83%;净利润2079.8万令吉，同比增加45.61%;每股基本盈利2.08仙。 ...