中山市市场监督管理局食品监督抽检信息通告（2025年第21期） 中山市市场监督管理局组织对中山市范围内食品生产经营环节的六大类食品进行监督抽检，具体包括餐饮食品、糕点、粮食加工品、肉制品、食用农 产品和饮料，不合格样品5批次。检验依据按照《广东省食品安全监督抽检实施细则》执行。 欢迎广大消费者积极参与食品安全监督工作，关注每期食品抽检信息公布，如发现危害社会公众的食品及其违法行为，请及时拨打市市场监督管理局 举报投诉电话12345。 特此通告。 中山市市场监督管理局 2025年6月27日 | 食品监督抽检不合格信息表（2025年第21期） | 任 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | - ...

Core Viewpoint - The recent announcement by Zunming Co., Ltd. regarding the transfer of 50.83% equity in Zunming Xiangxiang indicates a strategic retreat due to financial struggles and declining profitability [1][3][7] Group 1: Financial Performance - Zunming Xiangxiang has accumulated losses of 29.16 million yuan since its establishment, with the company facing high debt levels and cash significantly lower than short-term liabilities [1][2] - In 2024, Zunming Xiangxiang reported revenue of 72.03 million yuan but incurred a loss of 23.52 million yuan, while the first quarter of 2025 showed revenue of 21.69 million yuan with a loss of 0.38 million yuan [2] - Zunming Co. itself reported a loss of 25.14 million yuan in 2024 and a further loss of 5.91 million yuan in the first quarter of 2025 [2] Group 2: Expansion Strategy - Since its IPO in January 2021, Zunming Co. has pursued aggressive expansion, establishing production bases in various regions, including Jiangsu, Hubei, Shanxi, Guizhou, and Beijing [3] - The establishment of Zunming Xiangxiang was part of a strategy to penetrate the Beijing-Tianjin-Hebei market, which has now been reversed with the equity transfer [3][4] Group 3: Operational Challenges - Despite an increase in production capacity, Zunming Co. has seen a decline in the utilization rates of its facilities, with actual utilization rates for fresh bean products at only 40% and for plant protein beverages at 35% [5][6] - The company has faced a significant drop in profit margins, with gross margin decreasing from 33% in 2020 to 22.74% in 2024, and net margin falling from 8% to 2.34% over the same period [6] Group 4: Debt and Financial Health - Zunming Co.'s debt-to-asset ratio has risen from approximately 40% at the time of its IPO to 55.61% in 2024, indicating increasing financial pressure [6] - The company has 1.42 billion yuan in cash against short-term interest-bearing liabilities of 6.56 billion yuan, resulting in a cash-to-short-term debt ratio of only 0.22 [6]

Core Viewpoint - Dongpeng Beverage is strategically establishing a new production base in Zhongshan with a total investment of 1.2 billion yuan, aiming to enhance its production capabilities and market presence in the beverage industry [1] Group 1: Investment and Production Capacity - The Zhongshan production base will cover an area of 180 acres and will include production lines for four major categories: vitamin functional drinks, compound tea drinks, plant protein drinks, and electrolyte drinks [1] - The project is expected to achieve an annual production capacity of 60 million boxes through the implementation of eight high-end production lines and an intelligent warehousing and logistics system [2] Group 2: Product Strategy and Market Expansion - The Zhongshan base will serve as an incubator for new product categories, with plans for an annual production of 2.5 million boxes for the electrolyte drink "Bushi La" and 2.5 million boxes for compound tea drinks targeting a market with over 20% annual growth [4] - As of Q1 2025, the revenue share of Dongpeng's "other beverages" category has increased to 7.74%, indicating the initial success of the intelligent production base and multi-category strategy [4] Group 3: Regional Economic Strategy - The location of the Zhongshan base is strategically positioned in the core area of the Guangdong-Hong Kong-Macao Greater Bay Area, allowing for rapid product response and market penetration in Southern China [5] - The base will work in conjunction with the Hainan base to form a dual hub, leveraging the advantages of industrial clusters and consumption upgrades in the Greater Bay Area [5] Group 4: Global Supply Chain and Market Penetration - Dongpeng Beverage is establishing a global supply chain system by linking the Zhongshan base with its factories in Indonesia and Yunnan, facilitating quick product delivery to ten ASEAN countries [7] - The company adopts a localized production strategy in markets like Indonesia to reduce costs and offers competitive pricing compared to rivals like Red Bull, demonstrating the effectiveness of its supply chain localization and cost-performance advantage [7]

口味方面，健康养生和小众尝鲜成为新的趋势。近两年来，主打食药同补的红豆、枸杞、红枣、薏米 等，在酒水市场甚为活跃。中医酒馆、中药酒肆成为网红，放纵又调理的中医酒馆吸引大批年轻人打 卡。 通过降低酒精度数来减少身体负担，凭创意包装和小众水果口味出圈……当宅家微醺成为年轻人休闲放 松的好方法，酒水不再局限于传统口感，健康和潮流成为其新的关键词。 低度酒成为微醺首选 近年来，消费者对酒水饮料的味型需求不再局限于传统的口感，健康和潮流成为新的关键词。国家酒类 品质与安全国际联合研究中心、值得买科技等单位联合发布的《中国消费者生活方式演进趋势系列报告 （酒水饮料篇）》显示，2024年低度酒市场增长迅猛，其中果酒和预调酒的线上销售同比增长分别达到 128%和88%。这种趋势背后是国人对健康生活方式的追求。 低度酒不仅满足了日常社交的需求，还减少了身体负担，成为年轻人微醺时刻的首选。传统酒类也在不 断创新。白酒行业在保持传统香型的基础上，开始探索新的风味，如馥郁香、老白干香等。葡萄酒市场 则迎来了甜白、起泡酒等细分品类的崛起。在饮料领域，健康化趋势同样明显。无糖茶、植物蛋白饮料 等品类受到越来越多消费者的喜爱。 酒水也要" ...

中山市市场监督管理局食品监督抽检信息通告（2025年第13期） 中山市市场监督管理局组织对中山市范围内食品生产经营环节的六大类食品进行监督抽检，具体包括餐饮食品、调味品、糕点、食用农产品、蔬菜制 品和饮料共127批次，合格样品122批次，不合格样品5批次。检验依据按照《广东省食品安全监督抽检实施细则》执行。 欢迎广大消费者积极参与食品安全监督工作，关注每期食品抽检信息公布，如发现危害社会公众的食品及其违法行为，请及时拨打市市场监督管理局 举报投诉电话12345。 特此通告。 | 研究 | 院 | 广州 | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 市 | 2025 | 餐 | 中山市丽 | 金桔柠 | 餐 | 质量 | 中山市火炬开发区 | 监 | 加工日 | 年5 | 饮 | ...

卖甜牛奶的李子园为降低原料成本及开拓新业务，打算进军奶粉市场。 在近日召开的业绩说明会上，有投资者向李子园提问：未来有哪些计划来稳定和提升公司净利润水平，李子园回 应称有四方面的计划，其中一条是优化产业布局，2025年聚焦奶粉及乳制品生产与销售，向上游产业链延伸。意 味着该公司将进军奶粉市场。 与此同时，李子园还拟投资3.2亿元建设"李子园日处理1000吨生乳深加工项目"，并成立全新子公司，向奶粉生产 发力。据悉，随着业绩压力加大，李子园在大单品甜牛奶以外正寻求多元化产品布局，除奶粉外还布局了植物蛋 白饮料、维生素饮料、茶味啤酒等。 拟投资3.2亿建设生乳深加工项目 李子园欲闯进奶粉赛道 日前，李子园发布关于签署投资协议暨设立全资子公司的进展公告，公告显示，公司目前已审议通过了《关于拟 签署投资协议书暨设立全资子公司的议案》，同意公司拟以自筹或自有资金在银川市西夏区新设全资子公司实 施"李子园日处理1000吨生乳深加工项目"，全资子公司名称为宁夏李子园食品有限公司。 该项目预计投资金额3.2亿元，项目建设周期预计为取得土地使用权后18个月内。项目建设内容包括建设全脂脱脂 奶粉、浓缩奶、稀奶油、奶酪、奶制品深加 ...

李磊： 鼎晖投资成立于2 0 0 2年，是国内做PE投资最早的团队之一。现在资金在管规模 1 3 00亿左右，6个业务线。鼎晖从PE业务起家，最初以少数股权投资为主，10多年前开 始逐步转型，逐渐加大并购型交易的比重。我们过去几年做了1 4单并购型交易，将近 2 0 0亿投资，辐射的交易规模达到1300亿，是国内较早拓展到并购型交易的投资机构。 并购机遇出现。 报道 I 投资界PEdaily 2 0 24年12月1 0 - 11日，由中共重庆市委金融委员会办公室指导，清科创业、投资界主 办，重庆渝富控股集团联合主办的"第二十四届中国股权投资年度大会"走进西部金融中 心重庆。作为股权投资行业晴雨表，本次大会将以"万象耕新"为主题，回顾行业风云， 重塑格局策略，探索价值发现，持续为中国股权投资行业注入力量。 本场 《并购市场拐点已来，VC/PE机构如何参与》 投资界龙门阵，由清科集团管理合 伙人、清科创投主管合伙人 袁润兵 主持，对话嘉宾为： 路威凯腾 董事总经理 艾天 鼎晖投资 董事总经理 李磊 德弘资本 董事总经理 王玮 信宸资本 管理合伙人 信跃升 以下为对话实录， 经投资界（ID:peda il y 2 ...