Investment Rating - The report assigns a "Buy" rating for the company, Lihigh Food (300973.SZ), marking its first coverage [1]. Core Insights - Lihigh Food has established a dual-driven model of "Frozen Baking + Baking Ingredients," with frozen baked goods being the core segment, including a variety of products such as mochi, tart crusts, donuts, and frozen cakes. The company has seen significant success with its Swiss roll product, which became a billion-yuan item within a year of its launch [3][4]. - The demand for frozen baked goods is expected to grow significantly, with the market projected to reach 25 billion yuan by 2025, reflecting a growth rate of 26.4%, which is substantially higher than the industry average [4]. - The company is also benefiting from the accelerated domestic substitution of raw materials, particularly in the cream segment, where the domestic market share is expected to rise from 20% in 2020 to 45% by 2024 [4][5]. Company Overview - Lihigh Food's revenue structure shows that baking products account for the highest revenue share, with a projected revenue breakdown for 2024 of 55.62% from baked goods, 27.59% from cream, and 5.87% from sauces [3][33]. - The company has a diversified brand matrix covering the entire industry chain, with brands like "Lihigh," "Aokun," and "Meihuang" targeting different segments of the market [26][30]. Industry Analysis - The baking industry in China is undergoing a transformation characterized by channel diversification and accelerated domestic substitution. The market size is estimated to be around 116 billion yuan, with independent bakeries still dominating but facing increasing competition from cross-industry collaborations [4][46]. - The frozen baking market is expected to see rapid growth, driven by the increasing demand for standardized semi-finished products in both B2B and B2C segments. The penetration rate of frozen baking products in China remains low compared to international markets, indicating significant growth potential [49][50]. - The competition in the frozen baking sector is relatively concentrated, with Lihigh Food holding a leading market share of 15.5%. In contrast, the baking ingredients market is more fragmented, with numerous players competing on product innovation and quality assurance [5][64].

2026礼好端午 春季节令糕点及米制品发展论坛与团体赛 （主办方审核） 发言嘉宾及企业介绍 （按出场顺序，不分先后） 张帅 中国焙烤食品糖制品工业协会副理事长兼秘书长 林莉 中国焙烤食品糖制品工业协会理事长助理兼Bakery China董事总经理 中国焙烤食品糖制品工业协会（简称：中焙糖协）于1993年12月18日经国家民政部批准登记注册成立。是由焙烤食品、糖制食品等行业相关的企事业单 位、社会组织和个人自愿结成的全国性、行业性社会团体，是非营利性社会组织,国家一级协会。协会下设21个专业委员会,现有企事业会员单位1500家左 右，基本涵盖了国内焙烤食品糖制品行业大中型骨干企业。 本会的登记管理机关是民政部,行业管理部门是工业和信息化部。 本会党的工作接受中央社会工作部的统一领导。本会接受民政部、行业管理部门的业务指导和监督管理。 北京贝克瑞会展服务有限责任公司 *是中国焙烤食品糖制品工业协会与国药励展展览有限责任公司的合资公司。国药励展是中国大健康领域领先的展览和会议组织者，是中央管理的我国领 先的医药集团——中国医药集团和全球领先的展览会主办机构——励展博览集团的成员公司。 *是中国国际焙烤展览会(Bak ...

一个包子，拿下韩国80%蒸包市场，卖出68亿个，能绕地球好几圈。 它叫三立Hopang（谐音：好棒）。 这是我在写《包子、馒头与面包，终有一战》时发现的日韩包子品类里两个创新案例之一（另一个是日本的551蓬莱）。最让我震惊的是，原来包子也能 像互联网产品一样，快速、大量地迭代。看到这些产品，我恨不得挨个去试一遍。比如它和好时巧克力联名的薄荷巧克力包子，直接颠覆了我的认知—— 原来包子，还能这么做？ 它是1971年推出的，到今天卖出了68亿个，我认真算了下确实可以绕地球17圈。 韩国人口只有5100万，相当于每个韩国人，平均每年都要吃掉2到3个。 它卖的不便宜，8至12元，相当于国内包子价格的5倍，却依然能够做到连续55年销量第一。 1969年的韩国冬天街头（Mote莫特，Nano Banana生成） 时间回到1969年，当时韩国烘焙行业有一个致命痛点：一到冬天，面包就卖不动。 韩国的冬天比较冷，我查了一下，1969年前后冬天比现在还要冷，平均温度只有0度，当年的小卖部和路边摊，几乎不可能有加热设备。摆在货架上的面 包，一到冬天就又冷又硬，销量随之陷入"滑铁卢"。 相比之下，街头那些现蒸现卖的红豆包（Jjinp ...

本报（chinatimes.net.cn）记者胡梦然 见习记者 黄海婷 深圳摄影报道 近日，因存在虚假宣传违法行为，去年深陷舆论风波的"美诚月饼"品牌运营方——广州市美诚食品有限 公司收到广州市花都区市场监督管理局开出的行政处罚单。该公司因在2024年中秋节前直播销售中，对 公司经营时间、规模、知名度等作引人误解的商业宣传，被合计罚没约50.46万元。 这一罚单的落地，距离其委托方"三只羊公司"因同一事件被合肥官方拟罚近6900万元已有数月之久。随 着品牌方处罚的尘埃落定，这起搅动2024年中秋礼品市场、引发全网对直播带货信任危机的标志性事 件，正式进入行政处罚的收尾阶段。 然而，罚单背后的商业逻辑远未终结。《华夏时报》记者深入调查发现，以美诚为代表的"香港商标 +内地生产+网红带货"模式，在食品乃至快消品领域早已是公开的"秘密"。这种利用信息差进行"区域套 利"的轻资产运营模式，如何在直播电商的流量裹挟下，编织起"全网最低价"的谎言，收割消费者的信 任溢价？《华夏时报》记者通过多方采访，为您揭开这条灰色产业链的面纱。 "伪进口"模式的低成本包装术 2月25日，《华夏时报》记者拨打广州市美诚食品有限公司的公开 ...

2月25日，桃李面包（603866）发布公告，自本公告披露日起15个交易日后的3个月内，公司控股股东及 实际控制人吴志刚计划通过大宗交易的方式减持股份数量合计不超过31,994,383股，占公司股份总数的 2%。计划通过集中竞价交易的方式减持股份数量合计不超过9,979,805股，占公司股份总数的0.62%。 视为一致行动人的肖蜀岩计划通过集中竞价交易的方式减持股份数量合计不超过6,017,386股，占公司股 份总数的0.38%。 截至本公告披露日，公司控股股东及实际控制人吴志刚持有公司股份87,539,682股，约占公司总股本的 5.47%；视为一致行动人肖蜀岩持有公司股份6,017,386股，约占公司总股本的0.38%。这也意味着，肖 蜀岩此次计划为"清仓式"减持。 | 股东名称 | 吴志刚 | | --- | --- | | 计划减持数量 | 不超过:41,974,188 股 | | 计划减持比例 | 不超过:2.62% | | --- | --- | | 减持方式及对应减持数 | 大宗交易减持,不超过:31,994,383 股 | | 量 | 集中竞价减持,不超过:9,979,805 股 | | 减持 ...

好利来大公子、执行总裁罗昊的人设翻车了。 数年前，他在综艺节目上因维护"总裁形象"拒绝涂鸦，甚至不惜与女友分手。而近期，他却在社交媒体 上以长发、精致妆容和女性化穿搭亮相，引发外界争议。 作为二代接班后，罗昊加大了在营销上的投入。一个例子是，好利来门店女店员统一身穿制服，在社交 媒体上吸引了不少眼球。甚至就连招聘门店保洁员，都要求"形象气质佳"。 但好利来似乎有些舍本逐末。在黑猫投诉 【下载黑猫投诉客户端】上，不少消费者反馈在好利来商品 中吃到异物、吃出头发、商品发霉、食用后身体不适等情况，遭遇门店推脱责任。 做足了营销的好利来，却丢了食品安全？ 押注营销，执行总裁却人设翻车？ 近期，好利来执行总裁罗昊近月以长发、精致妆容和女性化穿搭亮相社交平台，坦然接受"美女"称呼并 自称"罗昊子"，这一形象转变与其维护"总裁形象"的表现形成巨大反差，引发公众热议。 文 | 《BUG》栏目 张俊 早在2021年，罗昊与周扬青共同参加恋爱综艺《女儿们的恋爱4》，并在节目中植入了好利来的产品， 进行宣传。录制期间，周扬青在游戏中获胜后按规则在罗昊脸上画满涂鸦，导致罗昊情绪崩溃并当场罢 录。他事后解释称，作为企业管理者，担心"鬼 ...

本报记者 李颖 孔明哲 潘碧云 张剑 说出来可能现在的年轻人不会信，在上世纪八九十年代，逢年过节走亲戚，最"扎台型"的礼物莫过于提 一个12寸的凯司令奶油蛋糕。 在那个蛋糕还不是随买随吃的年代，吃奶油蛋糕是一件很有仪式感的事，通常只有过年和过生日的时候 才能吃上一回。春节到了大年初二，基本都要走亲戚。一盒奶油蛋糕在舅舅阿姨叔叔家轮番流转，最后 又回到自己家，经历过的人，懂的都懂。 如今，蛋糕是饭后的甜品，是下午茶的首选。而那些年在亲戚间流转的轨迹，也早已封存进了旧时光 里，沉淀成了上海人味蕾深处最甜蜜的年味密码。 ...

最近，一种长得扁扁平平，表面扑着白面粉，看起来甚至有点"灰头土脸"的面包，火上了热搜。 这种面包名叫恰巴塔，音译自意大利语Ciabatta，意思是"拖鞋"。 在小红书上，不少网友打趣道：恰巴塔已经进入了"瑜伽裤时代"。这个比喻可谓形象，瑜伽裤因为极强的弹性，可以包裹各种身材；而恰巴塔则因为其独 特的形状和内部结构，像个超大容量的"口袋"，能把各种中式的西式的食材统统塞进去。 图源：小红书@秃子秃子大秃子（已获授权） 爆火的恰巴塔究竟是什么来头？ 恰巴塔进入中国，从帕尼尼变成夹馍？ 很多人第一次接触恰巴塔，是肯德基在2015年推出的早餐帕尼尼。热压香脆、夹着芝士蛋或猪柳的恰巴塔三明治，在早餐时段广受关注，成了不少人对恰 巴塔记忆的起点。 后来，一线城市烘焙店开始将恰巴塔单独售卖。2018年，上海MBD面包店就推出黑豆松子恰巴塔，成为网红必吃产品。Drunk Baker等烘焙店也因恰巴塔 等产品备受关注。2024年8月，山姆上新恰巴塔。2025年初，盒马也紧跟趋势推出恰巴塔新品。2025年7月，桃李、曼可顿等传统烘焙巨头相继推出恰巴塔 产品，把它从精品面包房带到了更大众的消费场景里。 就这样，在多个品牌都推出恰巴 ...

Core Viewpoint - The article discusses the strategic shift of food and beverage companies in China towards international markets as a response to domestic saturation and increasing competition, highlighting the potential for growth and brand enhancement through overseas expansion [2]. Group 1: Industry Logic - The Chinese food and beverage industry has developed mature capabilities in product research and development, supply chain management, and digital operations, making it ready for international expansion [4]. - National policies such as "dual circulation" and the "Belt and Road Initiative" provide support for companies looking to expand overseas by facilitating customs, tax, and investment processes [4]. - China's global leadership in e-commerce infrastructure, mobile payments, and agile supply chains empowers brands to penetrate emerging markets like Southeast Asia effectively [4]. Group 2: Data Insights - There is a growing overseas demand, particularly in online consumption, and Chinese consumer brands are increasingly gaining influence beyond the Chinese diaspora, reaching local populations [4]. - The export value of Chinese food products has shown significant growth over the past five years, indicating a positive trend in international demand [6]. - The cultural elements of Chinese products, such as tea culture, are gaining popularity on global social media platforms, contributing to the rise of "Chinese cultural fever" abroad [4]. Group 3: Sector-Specific Insights - Different segments within the food and beverage industry show varying levels of overseas revenue contribution, with health products at 40.74%, meat products at 10.91%, while soft drinks and baked goods lag significantly behind at 0.08% and 0.61% respectively [8]. - Higher overseas revenue contributions are typically seen in categories with strong standardization and cultural adaptability, while lower contributions in segments like soft drinks and baked goods face challenges related to cold chain logistics and local taste preferences [8]. Group 4: Focus on Supply Chain - The analysis emphasizes a focus on companies transitioning from market penetration to full-scale expansion, particularly through supply chain strategies, which leverage China's manufacturing efficiency and supply chain management advantages [9].

Core Insights - The "Dubai Chewy Cookie" has become a phenomenon in South Korea, with consumers queuing for hours to purchase it, reflecting its immense popularity and demand [1][3][19] - The product is a transformation of the globally popular "Dubai Chocolate," which gained fame through social media and has now inspired various adaptations in the dessert market [15][16][26] Group 1: Product Popularity - The Dubai Chewy Cookie is so popular that a dedicated "map" was created to track its availability across stores in South Korea, indicating high consumer interest [5][8] - The product's appeal is attributed to its unique combination of flavors and textures, featuring a soft outer layer and a crunchy inner filling, which has captivated the younger demographic [11][16] - The cookie's success has led to a surge in related products, with numerous brands launching their own versions, including Starbucks and various convenience stores [21][22][25] Group 2: Market Impact - The popularity of the Dubai Chewy Cookie has resulted in increased demand for key ingredients like pistachios, leading to a reported shortage and price hikes in the market [16][34] - Sales data indicates that the CU convenience store sold nearly 1.8 million units of its version of the cookie within three months of its launch, showcasing the product's commercial viability [31] - The trend has extended beyond South Korea, with similar products being introduced in international markets, including the United States, indicating a broader appeal of the "Dubai" brand [41][43] Group 3: Brand Engagement - Major brands, including GS25 and Emart24, have rapidly expanded their product lines to include various "Dubai" themed items, reflecting a strategic response to consumer demand [35][39] - The phenomenon has also influenced pricing strategies, with many retailers adjusting prices due to rising ingredient costs, which has sparked discussions among consumers about affordability [34][39] - The "Dubai" branding has evolved into a symbol of exotic and luxurious flavors, leading to a diverse range of products across different food categories, from desserts to beverages [41][43]