来源：联商网 出品/联商翻译中心 编译/松柏 来源/Forbes 近日，由菲律宾亿万富翁陈觉中(Tony Tan Caktiong)及其家族控制的菲律宾最大快餐连锁集团——快乐蜂食品公司 (Jollibee Foods Corporation)，宣布计划将其国际业务从本土业务中分拆，并寻求于2027年前在美国上市。 根据公司声明，快乐蜂将成立一家独立的国际业务实体——"快乐蜂食品国际公司"(Jollibee Foods Corporation International)，该实体将涵盖所有菲律宾以外的业务，定位为一家面向全球市场的成长型公司。分拆后，现有股东 将按持股比例获得新公司的股份。快乐蜂集团将继续保留在菲律宾证券交易所的上市地位。 截至2025年8月，陈觉中及其家族净资产达29亿美元(约合人民币202.6亿)，在《福布斯亚洲》发布的菲律宾富豪榜 上位列第十。 "此举可能带来双重影响，"Luna证券公司董事长约翰·加特马伊坦(John Gatmaytan)表示，"国际业务分拆后运营将 更加透明，有利于投资者看清其真实状况。该业务已通过扩张与收购投入数十亿美元。" 快乐蜂集团全球总裁兼首席执行官陈蔓中(E ...

On the dividend front, Pepsi's 4% dividend yield is impressive. But I'd argue the company's 53-year track record of raising its dividend is even more impressive.Despite concerns that the company's business model is inherently cyclical, we've seen robust sales through past down markets. Thus, I'd argue his is a dividend stock with a solid defensive tilt.Pepsi's upside in the past has come from immense pricing power, which I'd argue hasn't gone away. The ability for Pepsi to raise prices on its core snack bus ...

广发证券发布研报称，预计25-27年百胜中国（09987）归母净利润分别为9.2、10.1、10.9亿美元。公司 同店表现稳健，单店UE持续优化，仍有较强扩张预期，维持较高股东回报指引，参考可比公司，给予 公司26年20xPE，对应港股合理价值453.62港元/股，美股合理价值58.33美元/ADS，均给予"买入"评 级。 该行认为肯德基和必胜客仍有较大潜在拓展空间，未来加速开店的底气来自：（1）超越周期、优于行 业的稳健经营；（2）持续优化的单店资本开支、更为灵活的店型；（3）加盟模式跑通、加速贡献新增 门店。 股东回报丰厚，红利属性凸显 25-26年维持每年分红+回购15亿美元，当前市值对应回报率8.8%。公司指引2027年及之后股东回报为集 团当年自由现金流约100%，预计2027-2028年每年股东回报至少9-10亿美元，当前市值对应回报率约 5.3%-5.8%。 风险提示：宏观经济波动，门店扩张不及预期，市场竞争加剧等。 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 责任编辑：史丽君 广发证券主要观点如下： 今年以来，公司同店止跌、优于行业大盘，在11月投资者日上，公司指引26- ...

智通财经APP获悉，广发证券发布研报称，预计25-27年百胜中国(09987)归母净利润分别为9.2、10.1、 10.9亿美元。公司同店表现稳健，单店UE持续优化，仍有较强扩张预期，维持较高股东回报指引，参 考可比公司，给予公司26年20xPE，对应港股合理价值453.62港元/股，美股合理价值58.33美元/ADS， 均给予"买入"评级。 广发证券主要观点如下： 该行认为肯德基和必胜客仍有较大潜在拓展空间，未来加速开店的底气来自：(1)超越周期、优于行业 的稳健经营;(2)持续优化的单店资本开支、更为灵活的店型;(3)加盟模式跑通、加速贡献新增门店。 股东回报丰厚，红利属性凸显 今年以来，公司同店止跌、优于行业大盘，在11月投资者日上，公司指引26-28年同店增速维持0-2%， 有望持续彰显较强的抗周期能力 优秀的经营水平、强劲的品牌势能、完善的数字化体系与供应链建设支撑公司快速扩张，公司指引26 年/28年/30年门店总数分别达到2万家/2.5万家/3万家，在单店资本开支优化、灵活店型及加码加盟模式 的助力下向下一个万店里程碑进击。 该行认为同店提升的抓手包括：(1)肯悦、KPRO新模块有望贡献增量;( ...

Group 1 - Neuralink plans to start high-volume production of brain-machine interface devices in 2026, with significant advancements in the implantation process, including a streamlined and automated surgical method [2] - The Shenzhen government will launch a comprehensive vehicle and appliance trade-in program in 2026, offering subsidies of up to 20,000 yuan for new cars and 1,500 yuan for home appliances [3] - OpenAI is enhancing its audio AI models in preparation for the launch of its first AI-driven personal hardware device, focusing on audio interaction capabilities [4] Group 2 - LVMH's subsidiary Belmond accuses a Carlyle Group-controlled railway company of responsibility for a fatal train collision near Machu Picchu, resulting in one death and multiple injuries [5] - Sapphire Foods and Devyani International are merging in India for $934 million to create a fast-food franchise giant, expecting annual synergies of 2.1 to 2.25 billion rupees ($23.34 to $25.01 million) [6] - Indonesia will ban imports of rice, sugar, and corn starting in 2026, citing significant domestic production increases and a shift towards food self-sufficiency [8] Group 3 - The box office for New Year's Day 2026 reached 336.89 million yuan, showing a year-on-year growth of over 10% [9] - Kweichow Moutai has established a new company, "i Moutai Digital Technology Co., Ltd.," with Wang Hualin appointed as general manager, indicating a push towards digitalization and direct consumer engagement [10] - The animated film "Zootopia 2" became the box office champion for New Year's Day 2026, contributing to a total box office of 329 million yuan [11] Group 4 - Chongqing has initiated a comprehensive trade-in subsidy policy for consumer goods starting January 1, 2026, with allocated funds of 210 million yuan for vehicle scrappage and 55.5 million yuan for vehicle replacement [12] - BYD reported December 2025 sales of 420,398 new energy vehicles, a year-on-year decline of approximately 18.2%, while total annual sales reached 4,602,436 units, a growth of 7.73% [13]

遇见小面(02408)涨近5%，截至发稿，涨4.71%，报4.45港元，成交额254.5万港元。 消息面上，据广州日报，12月29日，遇见小面全球第500家门店暨新加坡首店，在新加坡当地潮流商业 地标乌节路313@Somerset正式揭幕。据悉，遇见小面在新加坡的拓展步伐正持续加速，新加坡淡滨尼 广场店及其他门店也已在筹备中。 东吴证券指出，复盘公司历史，三大要素助力公司成功：锚定差异化高潜赛道，即川渝风味辣口食品； 较早推行标准化、数字化；率先跑通商场店模式。该行认为，中长期而言在外卖增量、新品类拉动、海 外优质门店并入、经营降本等多措并举下，同店有望迎来修复。 ...

Core Viewpoint - The company "遇见小面" (Meet Noodle) is experiencing a positive market response following the opening of its 500th store in Singapore, indicating strong expansion plans and potential for growth in the overseas market [1] Group 1: Company Expansion - "遇见小面" has opened its first store in Singapore at the popular shopping destination Orchard Road 313@Somerset, marking its 500th global location [1] - The company is actively preparing for additional store openings in Singapore, including a location at Tampines Mall [1] Group 2: Market Performance - The stock price of "遇见小面" increased by approximately 5%, reaching HKD 4.45, with a trading volume of HKD 2.545 million [1] Group 3: Strategic Insights - Dongwu Securities highlights three key factors contributing to the company's success: focusing on differentiated high-potential markets, early adoption of standardization and digitalization, and pioneering the shopping mall store model [1] - The firm anticipates that same-store sales may recover in the medium to long term due to various strategies, including growth in food delivery, new product categories, integration of quality overseas stores, and cost reduction measures [1]

新华财经上海12月23日电（葛佳明）2025年以来，全球消费市场复苏缓慢，欧美市场消费者信心持续低迷，国内消费市场也正经历结构性调整，消费行业总 体表现弱于大盘。 据新华财经统计，截至2025年12月23日发稿，标普500消费精选指数今年迄今上涨约6%，落后于标普500指数同期16.9%的涨幅；欧洲STOXX600消费指数今 年迄今下跌1.3%，而同期STOXX600指数上涨13.9%；沪深300消费指数今年迄今下跌超7%，而沪深300指数同期上涨17.3%。 多位分析师在接受新华财经采访时直言，2026年全球消费行业分化走势仍将持续，消费景气的自身修复预计仍需时间，整体需求回暖节奏偏慢。具备品牌 力、定价权和精细化运营能力的企业将更具韧性。未来消费市场的机会可能集中在服务消费、出海消费，以及满足情绪和健康等个性化需求的细分领域。 全球消费走势分化 在就业市场疲弱、美国关税政策推高通胀以及高利率环境的影响下，欧美等发达经济体消费者信心回升缓慢，消费意愿不强。 美国密歇根大学发布的调查数据显示，2025年12月美国消费者信心指数终值为52.9，低于市场预期的53.4，同比下滑近30%，约47%的受访消费者认为高 ...

静安MOHO店店员肯定地说："配料表里除了牛肉没东西，就是牛肉……写的就是西冷牛排。" 而在新世界店，一位店员则坦言："是合成的，就是牛肉打碎之后跟其他的料合成。" 在记者的坚持下，其中一家的店员翻拍了生牛排包装上的配料表，配料表上除了牛肉外，还有长长一串配料和添加剂，包括了大豆分离蛋白、明 胶、呈味牛肉粉等等。包装上还注明有致敏物质信息，包含大豆、鱼类、谷物及其制品。 在必胜客的线上官方旗舰店，却有以"原肉整切牛排"为名的多款生牛排在售。 记者下单购买了其中一款，拿到手后，外包装上的名字却是 "整切调理牛排"，配料表除了牛肉外还有一长串，产品类别为调制食品，还标注了 含有大豆等可能导致过敏的信息，和线下门店提供的配料表高度重合。 相关部门已介入 罗永浩发声 日前，有网友发现，在连锁餐厅必胜客吃到的牛排，和菜单上的图片差距巨大，口感也有些奇怪，这到底用的是什么肉？ 据上海广播电视台报道，记者随机挑选了两家必胜客线下餐厅，点了菜单上价格从59到85元不等的多款牛排。端上来的牛排，看起来与菜单上 的确实有差别，口感也不像原切牛肉。当记者提出疑问时，两家店员给出了截然不同的回答。 必胜客方面相关负责人员称："我们的 ...

Core Viewpoint - The article highlights discrepancies between the advertised and actual quality of steaks served at Pizza Hut, raising concerns about the use of synthetic ingredients and the transparency of product labeling [1][2][9]. Group 1: Product Quality and Transparency - Customers reported that the steaks served at Pizza Hut did not match the images on the menu and had an unusual taste, leading to questions about the type of meat used [1]. - Staff at different locations provided conflicting information regarding the nature of the steaks, with one claiming they were pure beef and another admitting they were synthetic, made from ground beef mixed with other ingredients [2]. - The packaging of the steaks revealed a long list of additives, including soy protein and gelatin, which were not disclosed prominently to consumers [2][5]. Group 2: Regulatory Response - Market regulatory authorities have begun investigations into the matter, conducting inspections at the involved Pizza Hut locations [8][11]. - The company stated that the steaks are classified as "whole cut processed steaks," but the information was only minimally indicated on the menu [9]. Group 3: Financial Performance - Yum Brands, the parent company of Pizza Hut, is facing pressure as Pizza Hut is the only brand within its portfolio showing negative growth in system sales and same-store sales for Q3 2025 [12][13]. - In contrast, Pizza Hut's revenue in China showed a year-on-year increase of 3.25% to $635 million, with system sales up by 4% [16].