零食连锁

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万辰集团20250824
2025-08-24 14:47
万辰集团 20250824 摘要 万辰集团量贩零食业务 2024 年营收达 317.9 亿元,占总收入 98.3%, 门店数量 14,196 家,仅次于鸣鸣很忙,规模效应显著,但仍有较大下 沉和加密潜力,尤其在南方、东北及二线城市,并计划出海东南亚市场。 公司积极试水折扣超市转型,作为第二增长曲线,通过扩大经营面积和 增加非零食品类,如蛋挞、烤肠、日化个护等,满足消费者多品类需求, 提升同店效益,目前已优于传统社区商超和便利店业态。 公司通过收购四大区域型零食连锁品牌及整合自有品牌陆小馋,在量贩 零食渠道获得领先地位,同时自有原材料种植基地及规模化生产基地提 供强大的供应链支持,含羞草作为第四大临时供应商,年采购额达 5 亿 元。 公司通过核心高管持股和业务合伙人模式,充分调动团队积极性,创始 人家族及核心高管合计持股 58.1%,总经理王泽宁穿透持股 30.23%, 深度绑定有助于确保管理层与公司利益一致,提高运营效率。 东南亚零食市场复合年增长率(CAGR)高于中国,渠道重构为量贩零 食渗透率提升提供契机,中国上游零食企业积极探索东南亚供应链建设, 有助于降低运营成本,复制国内渠道竞争优势。 Q&A 万辰 ...
零嘴福是杂牌?港股挂牌企业, 获千万融资,实力不容小觑
Sou Hu Cai Jing· 2025-08-22 16:41
Core Insights - The brand "零嘴福" is rapidly emerging in the competitive snack market, backed by a recent A-round financing of 50 million yuan, indicating strong strategic planning and capital support [1][5]. Business Model - "零嘴福" employs a "bulk purchase" strategy to reduce costs, offering high-cost performance snacks with over 2000 product varieties, including imported snacks and popular domestic items [3]. - The company has established direct partnerships with quality suppliers, enhancing product quality and price advantages, supported by an efficient logistics system that ensures quick turnover and reduced inventory pressure [3]. Capital Market Recognition - Following the 50 million yuan A-round financing, the company plans to expand its store network from over 800 to 1500 locations in the next two years, enhance digital infrastructure, and invest in product development to create proprietary brands [5]. - As a publicly listed company, "零嘴福" benefits from high financial transparency and governance standards, which enhance trust among consumers and partners [5]. Marketing Strategy - The company utilizes social media for direct interaction with young consumers, employing a content team to create engaging snack reviews and creative consumption ideas, effectively building a significant follower base [7]. Market Positioning - "零嘴福" positions itself as a "high-quality affordable snack expert," balancing product quality with competitive pricing, and maintains a monthly product turnover rate of approximately 15% to keep the shopping experience fresh [8]. - The brand targets urban professionals and young families aged 25-40, who have strong purchasing power and a desire for quality living [8]. Future Outlook - If "零嘴福" maintains strategic focus and prioritizes store profitability and user experience during expansion, it has the potential to grow from a regional brand to a national snack chain giant [10]. - The company may leverage capital for mergers and acquisitions to quickly expand market share, while enhancing digital capabilities to create new growth opportunities through an integrated online and offline retail model [10].
“红枣大王”好想你上半年亏损收窄,7亿投资鸣鸣很忙影响净利超10%
Sou Hu Cai Jing· 2025-08-18 06:46
瑞财经 吴文婷近日,"红枣大王"好想你发布2025年半年度报告。 根据公告,公司实现营业收入为6.89亿元,同比减少15.64%;归属于上市公司股东的净利润为-1983.88万元,而2024年同期为-3623.47万元;归属于上市公司 股东的扣除非经常性损益的净利润为1707.12万元,同比扭亏为盈。 | | 本报告期 | 上年同 | | --- | --- | --- | | 营业收入(元) | 688,730,956.56 | 816,408. | | 归属于上市公司股东的净利润(元) | -19.838.777.72 | -36,234, | | 归属于上市公司股东的扣除非经常性损 益的净利润(元) | 17,071,229.21 | -36,308. | | 经营活动产生的现金流量净额(元) | 113,907,688.14 | 30,552. | | 基本每股收益(元/股) | -0.0440 | | | 稀释每股收益(元/股) | -0.0440 | | | 加权平均净资产收益率 | -0.57% | | | | 本报告期末 | 上年度 | | 总资产(元) | 4,428,129,712.65 ...
三只松鼠宣布与爱零食“分手” 量贩零食赛道竞争加剧
Zhong Guo Jing Ying Bao· 2025-06-27 13:45
Core Viewpoint - The acquisition of Hunan Ailing Snack Technology Co., Ltd. by Three Squirrels has been terminated due to disagreements on key terms, which reflects the competitive landscape in the snack retail sector [2][3][4] Company Summary - Three Squirrels announced the termination of the acquisition of Ailing Snack, stating that it would not have a significant adverse impact on its operations or future strategic plans [2] - The acquisition was initially proposed at a maximum price of 200 million yuan, indicating a valuation below 400 million yuan for Ailing Snack [4] - Ailing Snack, founded in 2020, has over 2,000 stores and ranked fifth in the number of snack store brands in China as of November 2023 [3] Industry Summary - The snack retail sector is experiencing intense competition, affecting profitability and operational decisions for companies like Three Squirrels [2][4] - The shift towards bulk snack retailing is seen as a strategic move by Three Squirrels to adapt to market pressures and explore growth opportunities [5] - The overall revenue for Three Squirrels has fluctuated, with a notable decline from 2019 to 2023, but is projected to rebound to over 10 billion yuan in 2024 [5][6] - The competitive landscape is challenging for non-leading snack brands, with many facing difficulties in maintaining store operations and profitability [7]
收购爱零食告吹,三只松鼠线下拼图少了一块
Jing Ji Guan Cha Bao· 2025-06-17 09:50
Core Viewpoint - The acquisition of Hunan Ailing Snack Technology Co., Ltd. by Three Squirrels has been terminated after eight months of negotiations due to disagreements on core terms, marking a setback in the company's offline expansion strategy [1][4]. Group 1: Acquisition Details - Three Squirrels planned three acquisitions in 2024, with the largest being the proposed acquisition of Ailing Snack for up to 200 million yuan, part of a total investment of no more than 360 million yuan across all three deals [2][5]. - The acquisition aimed to leverage Ailing Snack's extensive network of over 2,000 stores to strengthen Three Squirrels' offline presence and tap into new market segments [2][5]. - Ailing Snack has been actively expanding, having acquired several snack brands and increasing its store count from approximately 1,800 to over 2,000 in 2023 [3][5]. Group 2: Strategic Implications - The failure of the acquisition is seen as a significant obstacle to Three Squirrels' goal of balancing its revenue structure from 70% online to 50% offline over the next 2-3 years [4][5]. - The company has been facing declining revenues since 2019, with a notable recovery in 2024, achieving a revenue of 10.622 billion yuan, a 49.3% increase year-on-year [5][6]. - Three Squirrels is now seeking alternative opportunities to pursue its offline strategy, although it has not disclosed plans for new acquisition targets [6][7]. Group 3: New Strategic Direction - Three Squirrels has shifted its strategic focus from solely snacks to a broader "all-category, all-channel" approach, aiming to provide high-quality products across various categories [7][8]. - The company has recently entered the beverage market and plans to open all-category lifestyle stores and convenience shops, indicating a significant shift in its business model [7][8]. - The founder has positioned 2025 as a "year of rebirth" for the company, suggesting a transformative phase ahead [9].
好想你健康食品股份有限公司关于对参股企业会计核算方法变更的公告
Shang Hai Zheng Quan Bao· 2025-06-06 21:25
Overview of Accounting Method Change - The company has changed its accounting method for its investment in Hunan Mingming Henmang Commercial Chain Co., Ltd. from equity method to fair value measurement due to changes in its board representation and shareholding percentage [3][4] - The investment in Mingming Henmang amounts to RMB 700 million, representing a 6.64% stake prior to the change [3] Financial Impact - The change in accounting method results in a decrease of RMB 723.87 million in long-term equity investments and an increase of RMB 684.02 million in other non-current financial assets on the consolidated balance sheet [3] - The capital reserve increases by RMB 37.45 million, while investment income decreases by RMB 77.31 million, leading to a corresponding decrease in net profit attributable to the parent company [3] Future Accounting Treatment - Future changes in the fair value of the investment will be recognized in the current profit and loss statement, reflecting a shift in how the company accounts for this investment [2][4] - The company emphasizes that the financial data changes are temporary and do not reflect a fundamental change in its operational capabilities or investment value [2][4]
新消费企业抢滩港股IPO,能否再造“泡泡玛特式神话”?
Di Yi Cai Jing· 2025-05-28 11:58
Core Viewpoint - The Hong Kong stock market is experiencing a surge in IPOs from new consumption companies, driven by policy support, improved liquidity, and valuation recovery, with notable performances from companies like Mixue Group and Pop Mart [3][5][10]. Group 1: Market Trends - Since 2025, there has been a wave of new consumption companies going public in Hong Kong, including Mixue Group (02097.HK) and Pop Mart (09992.HK), which have shown strong market performance [1][3]. - As of May 28, 2025, there are 159 companies in the IPO queue for Hong Kong, with 25 in the consumption sector, accounting for approximately 16% [4]. - The consumer theme index in the Hong Kong stock market has seen a year-to-date increase of over 20%, with companies like Pop Mart and Mixue Group reaching historical highs in market capitalization [1][5]. Group 2: Investment Dynamics - The influx of southbound capital has significantly contributed to the liquidity in the Hong Kong market, with a net inflow of 636.91 billion HKD since 2025 [5][6]. - The average price-to-earnings (P/E) ratio for the consumer theme index is 20 times, while new consumption stocks have much higher P/E ratios, indicating a preference for high-growth potential [6][10]. - The Hong Kong stock market has become an attractive venue for new consumption brands due to favorable policies and a more lenient listing environment compared to A-shares [6][10]. Group 3: Company Performance - Pop Mart reported a revenue of 13.04 billion CNY in 2024, a year-on-year increase of 106.9%, with an adjusted net profit of 3.4 billion CNY, up 185.9% [9]. - 52TOYS, a competitor in the toy sector, has shown revenue growth but has faced continuous net losses, indicating challenges in achieving profitability [8][10]. - Companies like Mingming Hen Mang and Baima Tea are also facing profitability challenges despite high gross merchandise volume (GMV) and extensive market presence [9][10]. Group 4: Competitive Landscape - The new consumption sector is characterized by increasing homogenization, leading to questions about how companies can differentiate themselves and find the next breakout brand [3][7]. - Companies are encouraged to innovate in product offerings, improve supply chain efficiency, and build strong brand cultures to overcome competitive pressures [10]. - The potential for valuation bubbles exists as some companies may prioritize meeting venture capital exit demands over maintaining quality profitability [10].
两个85后霸总组CP,一年干出555亿
创业家· 2025-05-22 10:33
Core Viewpoint - The article discusses the rapid growth and competitive dynamics of snack retail brands "Zhao Yiming Snacks" and "Snacks Are Busy," highlighting their recent merger and the implications for the snack retail market in China, particularly in county-level cities [6][39]. Group 1: Company Overview - "Zhao Yiming Snacks" and "Snacks Are Busy" are two emerging snack retail brands that have gained popularity in county-level cities, with a significant increase in store openings [6][39]. - The brands are led by two 85-year-old CEOs, Zhao Ding and Yan Zhou, who have transformed their businesses from traditional snack shops to modern retail chains [7][20]. Group 2: Business Growth and Strategy - "Zhao Yiming Snacks" was founded in 2019 and quickly expanded from 84 stores in 2022 to over 2,500 stores [31]. - "Snacks Are Busy" has over 4,000 stores as of October 2023, supported by significant funding from investors [30][31]. - Both brands focus on low-cost snack offerings, with prices averaging 7%-40% lower than traditional supermarkets [36]. Group 3: Market Dynamics - The merger of "Zhao Yiming Snacks" and "Snacks Are Busy" into "Ming Ming Very Busy" aims to reduce internal competition and enhance market presence [37][39]. - The combined entity is expected to leverage their strengths in different market segments, with "Snacks Are Busy" focusing on acquisitions and "Zhao Yiming Snacks" on expanding in lower-tier cities [39]. Group 4: Consumer Behavior and Market Trends - The snack retail market is witnessing a shift in consumer preferences, with a high repurchase rate of 75% for members of "Ming Ming Very Busy," indicating strong customer loyalty [41]. - The article suggests that the demand for snacks may surpass that of beverages like milk tea, reflecting changing consumer habits in county-level markets [44]. Group 5: Financial Performance - "Ming Ming Very Busy" reported retail sales of 55.5 billion yuan in 2024, with over 1.6 billion transactions [47]. - The company is positioned as a leading player in the snack retail sector, with plans for further expansion following its recent IPO application [48][49].
湖南长沙又将跑出一个百亿IPO
投中网· 2025-05-11 02:12
Core Viewpoint - The article discusses the merger of "Ling Shi Hen Mang" and "Zhao Yi Ming Snacks" to form Hunan Ming Ming Hen Mang Commercial Chain Co., Ltd., aiming to become the "first stock in bulk snack food" in China, highlighting the rapid growth and market strategies of the combined entity [2][4][6]. Group 1: Company Overview - Hunan Ming Ming Hen Mang, formed from the merger of two brands, has quickly established itself as a leading player in the bulk snack food market, with a goal to expand its market presence significantly [2][5]. - The company operates with a dual-brand strategy post-merger, maintaining both "Ling Shi Hen Mang" and "Zhao Yi Ming Snacks" to leverage their respective strengths in market expansion and supply chain management [5][6]. Group 2: Market Position and Performance - As of the end of 2024, the company boasts 14,394 stores and holds a 28.6% market share, leading the industry with over 16 billion annual transactions and a member repurchase rate of 75% [6][8]. - Revenue surged from 4.286 billion to 39.344 billion from 2022 to 2024, reflecting a compound annual growth rate of 203%, while adjusted net profit increased from 81 million to 913 million, marking a growth of over ten times [8][10]. Group 3: Strategic Initiatives - The company plans to utilize 60% of its IPO proceeds to expand its store count to 30,000, 30% for upgrading its supply chain and proprietary brands, and 10% for AI product selection and warehouse automation [14]. - Management emphasizes that efficiency is crucial for sustainable low pricing, with a commitment to invest 20% of the raised funds to enhance supply chain responsiveness [10][12]. Group 4: Competitive Landscape - The Chinese bulk snack market is projected to reach 370 billion by 2024, with the top five brands holding only 6% market share, indicating significant room for growth and competition [13]. - The merger is seen as a successful case in the retail industry, allowing the company to reduce internal competition and focus on market expansion [5][6].
鸣鸣很忙闯上市:晏周贷款超4亿元购买赵定所持股权,帮助其套现
Sou Hu Cai Jing· 2025-05-06 13:56
Core Viewpoint - Hunan Mingming Hen Mang Commercial Chain Co., Ltd. (referred to as "Mingming Hen Mang") has submitted its prospectus for an IPO on the Hong Kong Stock Exchange, with Goldman Sachs and Huatai International as joint sponsors [1][3] Company Overview - Mingming Hen Mang operates brands including "Snacks Hen Mang" and "Zhao Yiming Snacks," with the former founded in March 2017 and the latter in January 2019 [3] - The two companies merged in late 2023 to form Mingming Hen Mang Group, with Zhao Yiming serving as Vice Chairman and Executive Director, and Yan Zhou as Chairman and General Manager [3] - As of December 31, 2024, Mingming Hen Mang has established a network of 14,394 stores, with a projected GMV of approximately 55.531 billion yuan for 2024 [3] Shareholder Activity - Prior to the IPO, several shareholders of Mingming Hen Mang have transferred their stakes, including A-share listed company Yanjinpuzi, which sold its entire stake for 360 million yuan after investing 350 million yuan in a B-round financing in December 2023 [5] - Zhao Yiming's control over Mingming Hen Mang is approximately 22.69% through Yichun Bird's Nest, while Yan Zhou holds 25.75% of the company [16][19] - Zhao Yiming's stake transfer activities have raised questions about the actual cash-out amount, with the company acknowledging a cash-out of less than 100 million yuan, while calculations suggest it could exceed 565.656 million yuan [15][22]