Core Insights - The article highlights the success of Atour Planet as a new consumer brand in the sleep industry, emphasizing its focus on user experience and product quality [3][5][20] - Atour Planet's approach has led to a transformation in the supply chain, fostering a collaborative environment between manufacturers and the brand [26][27] Group 1: Company Overview - Atour Planet has evolved from a hotel-based brand to a leading player in the sleep product market, with a focus on user-driven product development [3][4] - The brand's "Deep Sleep Pillow" has achieved cumulative sales of 7.8 million units, showcasing its popularity and market acceptance [4][14] - The company emphasizes a philosophy of understanding user needs and refining products, which has proven effective in various economic conditions [5][16] Group 2: Product Development - Atour Planet's product development is characterized by rigorous standards, such as the requirement for millimeter-level precision in pillow manufacturing to ensure consistent quality [7][9] - The introduction of the "Deep Sleep Standard" aims to enhance user experience by focusing on dynamic pressure distribution and temperature control [17][19] - The company has successfully launched innovative products like the Deep Sleep Temperature-Controlled Quilt, which addresses common sleep issues [12][14] Group 3: Supply Chain Collaboration - The collaboration between Atour Planet and its suppliers has led to significant advancements in manufacturing processes, including the adoption of high-precision cutting equipment [9][24] - The partnership has transformed factories from mere manufacturers to co-creators, enhancing their capabilities and contributing to higher product quality [26][27] - Atour Planet's approach has resulted in a more resilient supply chain, aligning with national strategies for domestic consumption and production [26][27]

Core Viewpoint - Atour Group has raised its revenue guidance for the full year 2025 to a 30% year-on-year growth based on positive expectations for its retail business [10][11]. Financial Performance - In Q2, Atour Group reported revenue of 2.469 billion RMB, a year-on-year increase of 37.4% [3]. - Adjusted net profit reached 427 million RMB, up 30.2% year-on-year [3]. - Adjusted EBITDA was 610 million RMB, reflecting a 37.7% year-on-year growth [3]. Hotel Operations - As of the end of Q2, Atour Group operated 1,824 hotels, a 29.2% increase year-on-year, with a pipeline of 816 projects [7]. - The overall RevPAR was 343 RMB, with an ADR of 433 RMB and an occupancy rate of 76.4% [7]. - The company has developed a multi-tiered brand and product system to target different market segments, establishing a differentiated competitive barrier [7]. Market Segmentation - In the mid-to-high-end market, Atour's 3 and 4 series hotels cater to diverse user preferences and accommodation needs, providing various investment options for franchisees [7]. - The 3.6 series focuses on enhancing convenience and comfort, with the first hotels already opened and a positive signing momentum [7]. - The 4.0 series targets business travel and urban vacation needs, with over 30 hotels opened, marking a significant leap from product innovation to quality verification [7]. Retail Business Growth - Atour's retail business continued strong growth, with GMV increasing by 84.6% to 1.144 billion RMB [10]. - During the 618 shopping festival, retail GMV reached 578 million RMB, a year-on-year increase of 86.1%, setting a new sales record [10]. - Atour Planet has launched several new products, including the Deep Sleep Pillow Pro 3.0, which features innovative design and support structures [10]. Membership and User Engagement - Atour's membership base has surpassed 100 million, with a new growth system for gold members that aligns with user needs [10]. - The company emphasizes a user-centric approach, continuously optimizing and expanding its product matrix to enhance market recognition [10].