10月30日晚间，奶茶企业香飘飘（603711.SH）发布2025年第三季度财务报告。数据显示，2025年 1-9月，公司实现营业收入16.84亿元，同比下降13.12%，其中冲泡板块营收8.22亿元，即饮板块营收 8.33亿元，同比增长3.92%。 在渠道拓展方面，在校园渠道之外，积极开拓多元化消费场景。其中量贩零食渠道成果斐然，公司 与零食量贩门店的合作数量成功突破3万家，当前已为即饮板块贡献了重要的业绩增量。 此外，香飘飘还将目光投向餐饮渠道，加大试销探测力度，并收获了积极的市场反馈。为精准契合 餐饮场景需求，香飘飘特别定制了多款特色产品，包括Meco果茶（PET包装）、杯装冻柠茶，以及红 豆薏米养生水、陈皮山楂养生水等。这些产品凭借解油、解腻、佐餐、健康养生等特性，与常规渠道产 品形成差异化互补，深度契合餐饮消费场景下用户的差异化需求，有望成为未来业绩增量的关键战场。 编辑：侯隽 另外，公司三季度还推出了养生茶饮"古方五红"暖乳茶，搭配红参、黄芪等药食同源小料，迎合消 费者健康养生的追求，进一步彰显了公司对健康化升级的坚定决心与积极投入。 作为公司精心培育的第二增长曲线，即饮板块在香飘飘业务版图中扮演 ...

公告指出，公司第三季度营业收入与净利润下降，主要系公司主动调整冲泡产品出货节奏，冲泡产品出 货节奏延后导致。 10月30日，香飘飘发布公告称，2025年前三季度，公司实现营业收入16.84亿元，同比下降13.12％；净 亏损8920.72万元，同比转亏。其中，第三季度公司实现营业收入6.49亿元，同比下降14.53％；归属净 利润818.37万元，同比下降82.67％，且冲泡类产品销售收入下降19.68%，即饮类产品销售收入下降 4.93%。 第三季度，公司继续推进冲泡健康化新品类"原叶现泡"系列的消费者沟通工作，传递产品"健康化"理 念；同时，推出功能性养生茶饮"古方五红"暖乳茶，持续加大对冲泡产品健康化升级的力度。此外，即 饮业务开始加大对餐饮渠道的试销探测范围，并取得积极的销售反馈。但整体而言，上述新品销量占比 仍然较小。 受到外部消费环境的影响，公司围绕"守正、稳进、创变"的年度工作基调，主动调整旺季前备货节奏， 进一步保障第四季度及春节旺季渠道与终端的货龄新鲜度。截至八月底，公司持续推进渠道去库存工 作，旺季市场启动及备货工作于九月中下旬陆续开展，因此，冲泡产品销售出货相比往年有所延后。当 前，经销 ...

Group 1 - Adidas has shown a strong performance in Q3 2025, with global revenue increasing by 12% year-on-year to €6.6 billion (approximately ¥546.41 billion) excluding Yeezy factors, and operating profit rising by 23% to €736 million (approximately ¥60.93 billion) [1] - The Greater China region has been a key driver for Adidas, with revenue in Q3 2025 growing by 10% year-on-year to €947 million (approximately ¥78.40 billion) [1] - For the first three quarters of 2025, Adidas reported global revenue of €18.735 billion (approximately ¥155.11 billion), a 14% increase year-on-year, with Greater China revenue at €2.774 billion (approximately ¥229.66 billion), up 12% [1] Group 2 - Despite the growth, Adidas faces challenges as its revenue growth rate in Q3 was lower than in the first three quarters, indicating ongoing growth pressures in China [2] - Competitors like Anta and Li Ning have reported mixed results, with Anta showing low single-digit growth and Li Ning experiencing a decline in sales [2] - Nike's revenue in Greater China has also declined by 10%, highlighting the competitive landscape [2] Group 3 - Adidas's market share in China has dropped significantly from 15% in 2021 to 8.7% in 2024, while Nike's market share decreased from 18.1% to 16.2%, maintaining its leading position [3] - Anta's market share increased from 9.8% to 10.5%, ranking second, while Li Ning's market share slightly rose from 9.3% to 9.4% [3] - In 2024, Adidas ranked fourth in market share in China, trailing Li Ning by 0.7 percentage points [4] Group 4 - Given Li Ning's sales decline, there is a possibility that Adidas could surpass Li Ning in market position in China [5] - However, Adidas still has a long way to go in terms of self-positioning compared to its competitors [6]

Group 1 - A customer reported finding a plastic glove in a coffee cup at a KFC location in Harbin, leading to a request for video evidence from the store [1] - KFC's customer service stated that they could not verify the claims made on social media and advised customers to contact the store directly for service [1] Group 2 - COFCO Technology announced partnerships with several leading tea beverage companies to promote D-alloheptulose sugar, which is seen as a promising product in the health trend [2] - The collaboration aims to enhance product offerings in the tea beverage sector [2] Group 3 - Xiangpiaopiao signed a cooperation agreement with Zhejiang Chinese Medical University to establish a health beverage research institute, focusing on integrating traditional Chinese medicine into daily consumption [3] - The first product from this collaboration is "Five Red Warm Milk Tea," based on traditional remedies [3][4] - Xiangpiaopiao is undergoing a strategic upgrade from a milk tea pioneer to a leader in health-oriented tea beverages, emphasizing product innovation and brand rejuvenation [3][4] Group 4 - Jiahua Foods reported a 68.5% decline in net profit for the first three quarters of the year, despite a 5.3% increase in revenue to 1.77 billion yuan [5] - The company attributed the profit drop to rising raw material costs and increased marketing expenses [5][6] - Jiahua Foods is facing challenges due to the trend of "de-plant-based cream" in the new tea beverage market, leading to a significant decrease in sales [6] Group 5 - Eight Horse Tea officially listed on the Hong Kong Stock Exchange with an initial price of 50 HKD, closing at 93.35 HKD, marking an increase of 86.7% [7] - The company plans to expand its physical presence by adding 1,500 new stores over the next three to five years and aims to establish an intelligent production base [7] - Eight Horse Tea has a strong family ownership structure, with significant control held by the Wang family, who have a long history in tea production [8]