作者｜ 旷晓伊 编辑｜ 宝珠 七十多岁正是"带货"的年纪，在一段视频中，埃隆·马斯克的母亲梅耶·马斯克依旧和年轻时一样优雅、大 气，她顶着一头银发，展示着手里的SKG按摩仪，说到："第一次看到它，我就被它时尚的外观深深吸 引了"。 梅耶·马斯克正在使用SKG的颈部按摩仪/图源： SKG未来健康 马斯克的妈，和一款国产网红按摩仪，这个场景看起来不免有些诡异。但首富母亲梅耶·马斯克的"力 挺"一度让SKG成为全球互联网的热议焦点，诸如"国产按摩仪火到首富家""马斯克妈妈的母亲节礼物"等 话题广泛传播。 这样的营销操作在网红按摩仪SKG的发展历程中并非个例。早在梅耶・马斯克的 "自来水" 背书之前， SKG 就已签约过王一博、杨洋、古力娜扎等人气明星担任代言人，凭借 "明星背书 + 流量裂变" 的成熟 打法，不仅成功完成从小家电企业向智能穿戴品牌的转型，更在竞争激烈的按摩仪细分赛道站稳脚跟， 甚至实现领跑。 据弗若斯特沙利文数据，按GMV统计，2024年，SKG以21.5%的市场份额稳居中国智能舒缓穿戴设备行 业国内企业榜首。 | 排名 | 公司 市佔率(按GMV) | | | --- | --- | --- | ...

出品：新浪财经上市公司研究院 作者：木予 按摩仪品牌SKG母公司未来穿戴健康科技股份有限公司（简称：未来健康）近日向港交所递表，冲击主板上市，由中信建投国际担任独家保荐人。 如今行至港交所门前，未来健康交出的"成绩单"不俗。2022-2024年，公司分别实现总营收9.05亿元、10.46亿元、10.45亿元；经调整净利润录得1.37亿元、 1.23亿元、1.26亿元，毛利率保持在50%上下，整体表现稳健。 2025年1-9月，未来健康总营收约为8.78亿元，同比增长16.2%，经调整净利润约为1.18亿元，较2024年同期大幅提升58.8%。相较之下，抢先以"智能按摩设 备第一股"登陆资本市场的倍轻松，2025年前三季度营收同比下降34.1%，扣非后归母净亏损666.83万元，最新股价已经跌破发行价。 不过，未来健康的前路也并非坦途。核心产品按摩仪销量近乎停滞、研发费用率不断走低、前五大经销商支撑起约四成收入，公司还在递表前一边高调现金 分红，一边举债维持运营。2022年，未来健康的估值一度高达160亿元，市盈率超过百倍。但随着可比公司倍轻松的市值自最高点蒸发近80%，同赛道的估 值基准已显著下调，港股投资者 ...

Core Insights - Brand strategy has evolved from a marketing function to a core element of corporate top-level design in the rapidly changing global business environment of 2025 [1] - The quality of brand strategy formulation and implementation directly influences a company's survival and growth potential in the era of rising consumer sovereignty [1] Group 1: Strategic Diagnosis and Monitoring - Establishing a multi-dimensional monitoring mechanism is essential for brand strategy formulation, allowing companies to track industry structure changes, competitive landscape shifts, technological trends, and consumer value orientation [3] - A brand strategy health dashboard should be constructed to monitor key indicators of brand assets in real-time, providing precise data support for strategic adjustments [3] - Brand strategies must possess foresight and adaptability to respond to the rapidly changing market environment [3] Group 2: Differentiation and Resource Allocation - Planning and selecting a differentiation path is a core aspect of brand strategy, requiring alignment between a company's core capabilities and market opportunities [3] - Companies should define their value propositions, identify target customer groups, and establish a complete brand architecture system to create differentiated advantages [3] - Optimizing strategic resource allocation and leveraging effects is crucial for the implementation of brand strategies, necessitating a focus on resource efficiency across R&D, production, channels, and communication [3] Group 3: Implementation and Performance Management - Planning the implementation path and execution control determines the ultimate effectiveness of brand strategies, requiring the breakdown of long-term strategies into phased goals [5] - A cross-departmental collaboration mechanism should be established, along with a scientific performance evaluation system to incorporate strategic execution outcomes into departmental assessments [5] - Successful brand strategies depend on rigorous execution control in the current era where execution capability is paramount [5] Group 4: Digital Transformation and Competitive Advantage - In the digital wave of 2025, the formulation and implementation of brand strategies have become a rigorous management science [7] - Companies that integrate systems thinking, data-driven approaches, and continuous innovation will build sustainable competitive advantages and gain proactive development in intense market competition [7]