证券日报网12月18日讯香飘飘（603711）在12月17日回答调研者提问时表示，目前，冲泡板块的终端网 点数量约40万家，即饮板块的终端网点数量约30万家，公司在短期内暂时不会追求门店数量的大幅增 加，而是希望对现有门店进行深耕。一方面，公司会根据冲泡业务和即饮业务的特点，分别筛选适配的 经销商和终端渠道资源；另一方面，公司会选取一些动销比较好的渠道和门店进行聚焦，集中投放资源 和费用，通过产品的生动化陈列，建立产品势能，营造热销氛围，以带动其他渠道和门店的销售。未 来，随着公司即饮业务系统性运营能力的提升，将会循序渐进地增加即饮终端网点的覆盖率。 ...

Core Insights - In the first half of 2025, the company reported a revenue of 1.035 billion yuan, a year-on-year decrease of 12.21%, and a net loss of 97 million yuan [1] - The company’s brewing business generated a revenue of 423 million yuan, while the ready-to-drink business achieved a revenue of 591 million yuan, reflecting a year-on-year growth of 8.03% [1] - The company is committed to a "dual-drive" strategy focusing on "stability, progress, and transformation" to navigate the changing external consumption environment [1] Financial Performance - Revenue for the first half of 2025 was 1.035 billion yuan, down 12.21% year-on-year [1] - Net loss for the same period was 97 million yuan [1] - The brewing business revenue was 423 million yuan, while the ready-to-drink segment saw an increase to 591 million yuan, up 8.03% year-on-year [1] Strategic Initiatives - The company plans to continue its "dual-drive" strategy in the second half of the year, focusing on "stabilizing brewing and strengthening ready-to-drink" operations [1] - In Q3, the company will enter the peak season for brewing business, emphasizing channel stocking and inventory management [1] - The company aims to enhance the gift market by developing upgraded gift packaging products to meet consumer demand [1] Product Development - The company will increase the launch of new products in the second half of the year to build momentum for market expansion [2] - The brewing business will introduce new flavors and "functional" health products for trial sales [2] - The ready-to-drink segment plans to continue launching more cup-based products and explore new market segments to enhance growth potential [2]