Core Insights - The "warm economy" is driving consumer spending in winter, with hot pot and warm beverages becoming popular choices as temperatures drop across the country [1][4]. Group 1: Hot Pot Consumption - Hot pot has emerged as the leading dining choice this winter, with online transaction volumes for hot pot restaurants ranking first across all categories [2]. - Since the start of winter, the number of group purchase orders for hot pot on Meituan has increased by over 330% compared to the same period last year [2]. - Popular hot pot flavors this year include nourishing and health-focused options, with online transaction volumes for black goat hot pot, mushroom hot pot, and hot pot chicken each growing by over 70% year-on-year [2][3]. - Customer traffic at Ba Nu Mao Du hot pot has significantly increased, with peak wait times exceeding 2 hours during weekends [2]. Group 2: Beverage Trends - The demand for warm beverages has doubled since the onset of winter, with tea brands prominently displaying their new winter hot drink offerings [3][4]. - Tea Baidao reported that the sales proportion of hot drinks has doubled in the past month, with their new product "Bean Milk Black Qilin" selling nearly 200,000 cups on its first day [3]. - The trend towards health-conscious consumption is reflected in the increased sales of tea drinks containing grains, nuts, and seasonal fresh fruits [3]. Group 3: Market Dynamics - The winter tea drink market is showing diverse changes, driven by the "warm economy" and a growing focus on light health concepts [4]. - Tea brands are innovating products and creating engaging consumption scenarios to meet consumer demands, thereby energizing the winter consumption market [4].

Group 1 - The "warm economy" is driving consumer preferences towards hot pot and hot beverages as winter approaches, significantly boosting the winter consumption market [1] - Data from Meituan and Dianping indicates that hot pot has become the leading category in winter dining, with online transaction volume for hot pot dining increasing over 330% compared to the same period last year [2] - Popular hot pot flavors this winter include nourishing and health-focused options, with online transaction volumes for black goat hot pot, mushroom hot pot, and hot pot chicken all increasing by over 70% [2] Group 2 - The customer traffic and sales for hot pot restaurants have seen a notable increase since the start of winter, with some locations experiencing wait times exceeding 2 hours during peak hours [2][3] - New winter products from Hai Di Lao, such as the "Double Flavor True Fragrance Pot," reflect consumer preferences for fresh and healthy ingredients, emphasizing the emotional value of dining experiences [3] - The sales of hot beverages have doubled as consumers seek warm drinks during the cold winter months, with tea brands prominently displaying their winter offerings [5] Group 3 - The demand for health-conscious tea drinks has surged, with brands like Cha Bai Dao reporting a doubling in hot drink sales and the successful launch of new products like "Soy Milk Black Qilin" [5] - The trend towards "warm and nourishing" food and drink options indicates a shift in consumer preferences, with tea brands innovating to meet these demands and enhance the winter consumption experience [6]

Group 1: Beverage Market Overview - The beverage market has entered a contraction phase, with overall sales down 9% year-on-year in September, and offline sales down 10.4% [1] - Uni-President China reported that its beverage business saw a low single-digit decline in revenue for Q3, while food business revenue grew in the mid to low single digits [1] - The decline in beverage revenue is attributed to price wars on delivery platforms and industry competition, with specific categories like juice facing significant pressure [1] Group 2: Dairy Industry Impact - The dairy market is also facing challenges, with Yili noting that ready-to-drink tea is substituting liquid milk products, particularly impacting packaged liquid milk sales [2] Group 3: Production Trends - National Bureau of Statistics data indicates a weakening trend in beverage production in Q3 compared to the first half of the year, with soft drink production declining by 0.17%, 6.79%, and 10.12% year-on-year in July, August, and September respectively [3] Group 4: External Factors - Adverse weather conditions, including typhoons and heavy rain, may have also impacted beverage sales during Q3 [4] Group 5: Market Recovery Signals - There are signs that the delivery platform price wars are becoming more manageable, which could be a positive development for the beverage market [5][6][7]

Core Viewpoint - Haidilao is actively engaging in community support by providing warmth to frontline workers such as police officers and delivery personnel during the winter season, coinciding with the launch of its winter hot pot offerings and promotional activities [7][27][39]. Group 1: Winter Product Launch - Haidilao has introduced its winter product lineup ahead of the season, featuring the "Double Flavor True Fragrance Pot" as the main offering [9][11]. - The winter menu includes a variety of new items such as "Sichuan Fruit Fragrance Five-Flower Bacon" and "Waterfall Snowflake Pork Slices" [10][12]. - A promotional event titled "Haidilao V You, Winter's First Hot Pot" will run from November 7 to 13, offering discounts for customers [6][14][15]. Group 2: Community Support Initiatives - In response to the cold weather, Haidilao has initiated charitable activities to provide meals and warmth to grassroots workers, including police and delivery personnel [7][27]. - On November 6, Haidilao's Aegean Sea store in Shanghai organized an event to deliver dumplings and afternoon tea to frontline police officers [28][36]. - Similar initiatives took place across various locations, where delivery workers were invited to enjoy meals at Haidilao restaurants, fostering a sense of community and appreciation [38][39].