Core Viewpoint - Recently, Naixue's breakfast set prices have increased in Guangzhou and Shenzhen, requiring consumers to purchase a membership card to enjoy discounted prices [2][3] Price Adjustment - Breakfast prices in Guangzhou and Shenzhen have risen from 9.9 yuan to 15.9 yuan, with some items increasing by 6 to 7 yuan, representing a price hike of 46.5% to 70.7% [2] - Consumers in Guangzhou and Shenzhen must purchase a breakfast membership card for 9.9 yuan to access the discounted prices, while prices in Beijing and Shanghai remain unchanged [2][3] Comparison of Prices - For example, a "American Coffee + Thick-cut Rock-baked Cheese Toast" costs 16.9 yuan in Guangzhou compared to 9.9 yuan in Beijing and Shanghai; with the membership card, the price in Guangzhou drops to 10.9 yuan [2] - Another example, "American Coffee + Spinach Pork Bone," is priced at 18.9 yuan in Guangzhou and Shenzhen, while it is 12.9 yuan in Beijing and Shanghai; the membership card price is 13.9 yuan in Guangzhou and Shenzhen [2] Company Background - Naixue launched the "9.9 yuan starting" breakfast promotion in July 2023, with price adjustments starting on May 19, 2024, in Guangzhou and Shenzhen [3] - Naixue has 1,453 directly operated stores and 435 franchise stores, totaling 1,798 stores nationwide, with a significant presence in Guangzhou and Shenzhen [3] Recent Developments - Naixue has recently rebranded its logo and opened its first "Green Store," focusing on light food offerings alongside beverages [4] - The company is under pressure to improve its performance, having reported a revenue decline of 4.71% to 4.921 billion yuan and a net loss of 926 million yuan in 2024 [4] Industry Comparison - Naixue is the only tea beverage company among its peers to report a loss, while competitors like Mixue Ice City and others reported significant profits in 2024 [5]

Group 1: Luxury Retail Expansion - Wangfu Central has expanded its high-end brand matrix by introducing the first Chinese flagship store of British jewelry brand GRAFF and LE LABO's fragrance laboratory in Beijing [1] - The dining sector has welcomed 17 new national or Beijing first stores, including certified Thai restaurant "CHINCHIN" and a Cantonese social dining space "DING+DIMBAR" [1] - Wangfu Central has launched cultural events such as intangible cultural heritage art exhibitions and coffee tastings, and upgraded its tax refund services for international travelers [1] Group 2: Gold Price Fluctuations - International gold prices have seen a significant decline from approximately $3430 per ounce to around $3240 per ounce, with a notable drop of $72 per ounce on May 14 [2] - Domestic gold prices have also decreased, with the price of gold from Chow Tai Fook falling to 986 yuan per gram, down 36 yuan from a week prior [2] - Shenzhen's water bay gold price dropped from 792 yuan per gram to 756 yuan per gram, reflecting a decline of over 4% due to international price changes [2] Group 3: Pricing Changes at Nai Xue - Nai Xue has increased prices for breakfast sets, requiring customers to pay for a membership card to access the original price of 9.9 yuan, with non-members facing a starting price of 15.9 yuan [3] - Several classic baked goods have been removed from the breakfast set, with new additions requiring an extra charge of 6 yuan [3] - The brand has recently changed its logo, removing "of tea" and introducing a new design that resembles both a snowflake and a fruit [3] Group 4: Necessary Mall Suspension - Necessary Mall has announced a temporary suspension of operations due to severe difficulties, with the app and mini-program still accessible but product links showing as "out of stock" [4][6] - Founded in July 2015, Necessary Mall was one of the early adopters of the C2M business model in China, initiated by CEO Bi Sheng [6] Group 5: Meituan's New Features - Meituan has upgraded its "Mingchu Plan" by introducing a "Dine-in Store" label to enhance transparency for restaurant merchants [8] - The label will be prominently displayed on the platform, helping merchants with physical stores gain more exposure [8] - Meituan has increased subsidies for small and medium-sized restaurants, with a total subsidy amounting to 50 million yuan for hardware and installation costs [8] Group 6: Dingdong Maicai's Financial Performance - Dingdong Maicai reported a revenue of 5.48 billion yuan for Q1 2025, marking a year-on-year growth of 9.1% and maintaining positive growth for five consecutive quarters [9] - The GMV reached 5.96 billion yuan, with a year-on-year increase of 7.9% [9] - Dingdong Maicai has achieved profitability under Non-GAAP standards for ten consecutive quarters and under GAAP standards for five consecutive quarters [9] Group 7: Cancellation of Meicheng Food Company - Meicheng Food Company has been deregistered, transitioning from active status to cancellation [11] - The company was involved in controversy over the authenticity of its mooncakes, leading to regulatory scrutiny and operational suspension [11]