近日，中国证监会发布公告，批准湖南鸣鸣很忙商业连锁股份有限公司的境外发行上市及"全流通"备案。这意味着，这家国内量贩零食行业的头部企业，已 取得赴香港联合交易所上市的关键通行证。 | | | 截至12月31日止年度 | | 截至6月30日止7 | | --- | --- | --- | --- | --- | | | 2022年 | 2023年 | 2024年 | 2024年 | | | | | (人民幣千元) | | | | | | | (未經審核) | | 收入 . | 4,285,745 | 10,295,318 | 39,343,511 | 15,078,178 28 | | 銷售成本 | (3,966,394) | (9,522,979) | (36,344,463) (14,085,900) | (25 | | 毛利 ... | 319,351 | 772,339 | 2,999,048 | 992,278 | 量贩零食业态的兴起，本质上是针对传统零食零售效率低、成本高痛点的一次变革。鸣鸣很忙通过整合供应链，缩短从工厂到消费者的交易链条，以"多、 快、省"的特点吸引价格敏感的消费者。其门店通常以丰 ...

Core Insights - The phenomenon of "weight shrinkage" in snack retailing is becoming a common practice across thousands of snack chain stores in China, where products appear similar to those in supermarkets but have significantly reduced weights [2][3] Group 1: Product Discrepancies - Consumers have reported that products purchased from snack chains often have different weights compared to those sold in supermarkets, leading to the "same product, different specifications" issue [3] - Examples include Oreo cookies sold in supermarkets at 97 grams, while snack stores sell them at 77.6 grams, and other products showing similar discrepancies [3] Group 2: Business Model and Pricing Strategy - Snack chains leverage a business model that combines brand attraction with private label profitability, creating a low-price image to draw customers [4][5] - The structure of products in these stores shows that leading snack brands have a gross margin below 10%, while private label products have a gross margin exceeding 30%, which is crucial for profitability [5] Group 3: Industry Challenges and Future Outlook - The snack retail industry is facing a reshuffling phase, with many stores experiencing quality and safety issues, leading to consumer complaints [6] - Approximately 60% of snack chain stores in the Weifang area are reported to be operating at a loss, with only 20% achieving profitability, indicating a challenging market environment [6]

报道称微软再次放缓数据中心投资。 部分中国供应商按原价恢复向美国供货。 早前沃尔玛等美国大型零售商已经发出发货通知，愿意承担关税。据界面新闻报道，一些中国供应 商已经恢复向美国发货，仍按照加征关税之前的价格。但在竞争更激烈的服饰行业，有供应商收到 市场调研机构 Semianalysis 称，过去两个季度，微软放弃远超 2GW 的数据中心租赁合同。此外， 微软还在冻结 1.5GW 近期自建数据中心项目——这些项目原计划在 2025 年和 2026 年投入使用。 数据中心的功耗越大，算力越强。作为对比，马斯克旗下 xAI 建设的 20 万张 GPU 数据中心，功 耗大约 0.5 GW。该报告称，微软放缓数据中心投资与 OpenAI 转向与甲骨文合作、微软的 AI 服务 推广缓慢等因素有关。 保时捷称在华停售电动车是误读。 近日，有媒体报道称保时捷首席执行官奥博穆透露，"未来两到三年内，保时捷可能停止在中国市 场销售电动汽车。" 对此，保时捷 29 日在发给我们的回应中表示，"这是误读，保时捷在中国仍将 坚定不移地推进电动化进程，也将加快提供产品数智化本土解决方案。我们下一款纯电车型将是全 新的纯电动 Cayenn ...