Core Viewpoint - The article discusses the contrasting performance of the tea beverage brand Mixue Ice City, highlighting its strong financial results amidst challenges posed by rising lemon prices and competitive pressures in the market [3][4][11]. Financial Performance - Mixue Ice City reported a revenue of 14.87 billion yuan and a net profit of 2.72 billion yuan for the first half of 2025, outperforming competitors like Bawang Tea and Guming [3]. - Forecasts suggest that Mixue's revenue could reach 29.7 billion yuan in 2025, reflecting a steady growth of 20% year-on-year [3]. Supply Chain and Raw Material Challenges - The brand's success is attributed to its robust supply chain and competitive pricing, particularly for its lemon-based products, which account for 15%-20% of its revenue [4][7]. - Extreme weather conditions have severely impacted lemon production, with some regions experiencing a yield reduction of 30%-60%, leading to a surge in wholesale lemon prices to 15 yuan per kilogram, nearly doubling year-on-year [7][9]. Competitive Landscape - Mixue Ice City faces significant pressure from competitors who primarily use a different variety of lemon (fragrant lemon), which has not seen the same price increases as the yellow lemon used by Mixue [9][10]. - The ongoing "takeout war" has eroded Mixue's price advantage, as competitors offer substantial discounts, making it challenging for Mixue to maintain its market position [12]. Strategic Responses - In response to the lemon crisis, Mixue has diversified its product offerings by incorporating fragrant lemons into new products, thereby alleviating some supply chain pressures [10][11]. - The brand is leveraging its IP, "Snow King," to enhance customer engagement and loyalty through innovative marketing strategies, including blind box promotions and emotional branding [13][15]. Expansion into New Markets - Mixue is expanding into new product categories, including coffee and fresh beer, to capture a broader consumer base and diversify its revenue streams [18][21]. - The launch of its coffee brand, "Lucky Coffee," has seen rapid expansion, with over 8,200 locations globally, and aims to penetrate first-tier cities [19][21]. Conclusion - The challenges posed by rising lemon prices and competitive dynamics have prompted Mixue Ice City to adapt its strategies, focusing on emotional branding, product diversification, and market expansion to sustain its growth trajectory [21].

据智通财经，蜜雪冰城一家位于北京丰台万达广场门店的工作人员称："最近一段时间，有些门店柠檬水缺货，但有些门店有，有时候需要抢货，如果抢 不上的话，就没有了。" 此外，多家广州、苏州地区蜜雪冰城门店店员确认近一周柠檬断货，目前跟柠檬相关的饮品如柠檬水、柠檬奶等都无法制作。 据了解，近日部分门店原料波动，源于近期一批进口柠檬受天气影响延期到港。 每经编辑｜金冥羽 据红星资本局，近日，因主要原料黄柠檬短缺，多地蜜雪冰城的冰鲜柠檬水断货。 据悉，冰鲜柠檬水是蜜雪冰城的明星大单品。9月17日，上海一家蜜雪冰城的店员表示，从上周日开始，店里就订不到黄柠檬片了，目前店里没有冰鲜柠 檬水，暂不清楚何时可以补货。 四川地区的蜜雪冰城门店表示，目前店里没有冰鲜柠檬水，因为"最近公司供货供不上，我们这边都断货了。"同时，该店员表示，不清楚什么时候能再恢 复供货。 据蜜雪冰城微信号，其冰鲜柠檬水一年卖超10亿杯，被蜜雪冰城称为"镇店之宝"。按4元/杯的售价计算，这款产品年销售额40亿元，相当于蜜雪集团2025 年上半年收入的13%。 编辑|金冥羽 易启江 校对|陈柯名 同时，蜜雪冰城主要柠檬供给地——川渝地区的柠檬已经进入采摘期，因 ...

Core Insights - The sudden popularity of lemon milk has captured significant attention on social media, with over 9.3 million views on related posts, prompting major brands like Mixue and Hushang Auntie to introduce their own versions of lemon milk drinks [1][3][5] - Lemon milk is not a new concept, particularly in regions like Zhejiang and Guangdong, where it has been a staple beverage for years, leading to a surge in local store sales as the trend spreads nationally [7][12] Brand Responses - Mixue has launched new lemon milk products in select regions, including the Snow King Lemon Milk and Lemon Milk Coffee, responding to consumer demand for nationwide availability [1][5] - Hushang Auntie introduced the Modern Little Iron series, featuring refreshing lemon milk drinks that quickly became the second most repurchased item in the month of June [5][11] Market Trends - The trend towards lemon milk reflects a broader consumer shift towards refreshing flavors, particularly in summer, as consumers seek alternatives to traditional sweetened beverages [9][20] - The rise of lemon milk indicates a growing market for fruit-flavored dairy products, with brands exploring innovative combinations to enhance flavor profiles and consumer appeal [20][22] Technical Developments - Advances in production techniques have addressed the common issue of curdling in lemon milk, allowing for a smoother consumer experience and broader market acceptance [12][14] - Brands are utilizing methods such as temperature control and ingredient optimization to minimize curdling, which has historically limited the popularity of lemon milk [14][16] Consumer Preferences - There is a noticeable fatigue with traditional light milk tea flavors, prompting consumers to seek out new and exciting options like fruit-infused dairy beverages [16][18] - The introduction of fruit flavors into milk tea is expected to create a more dynamic and refreshing drinking experience, appealing to a wider audience [22]