以下文章来源于财经三分钟 ，作者杨瑞 财经三分钟 . 4 亿中产财经资讯平台，专注深度财经商业报道。由财经媒体人杨瑞团队执笔，出品《广州租售同 权》、《北京学区房多校划片》、《国家抢占人工智能制高点》等多篇千万级刷屏文章。 作者： 杨瑞 来源：财经三分钟 2026年开年，椰树又凭挂历火了。 只是这一次，火的理由和往年完全不同。 没有了网友调侃的"视觉暴击"，没有身材火辣的"椰树女 郎"扎堆出镜，满屏都是加粗到刺眼的大红大绿字体，和一整篇创始人的励志奋斗史。 ------------------------------ ▲ 图源：小红书 反差感拉满的画风，让网友忍不住调侃："椰树这是把PPT直接印成了挂历？""以前看挂历费眼， 现在看挂历费脑，得耐着性子读企业传记"。 但吐槽归吐槽，不少人转头就求购："有没有海南本地的朋友，愿意出跑腿费+快递费求一本"。 其实 这本挂历的转变，远不止画风调整那么简单。 椰树 似乎 给自己画的一道分界线， 开始 告别坚持多年的"擦边营销"，一头扎进了"安全牌"的怀 抱。 而这背后 恐怕 是老品牌在流量红利见顶与监管收紧双重压力下，最现实的求生选择。 谁记得椰树以前的挂历长什么样 ...

兰州新区综合保税区。甘肃国际物流集团供图 "一线"放开，将海南自贸港与我国关境外其他国家和地区之间作为"一线"，实施一系列自由便利进出举措。 "一线"进口的"零关税"商品税目由1900种扩大到6600多种 "零关税"水平由之前的21%提高到74% 【经济观察】 海南封关，给甘肃带来什么 2025年12月18日，一艘装载着17.9万吨石化原辅料的船舶泊入国投洋浦油储码头30万吨级原油泊位。新华社 记者 郭程 中国公民到海南岛出差、旅行，不需要办理额外的证件 86个国家持普通护照人员可免签入境海南。 新甘肃·甘肃日报记者 王占东 2025年12月18日，海南自贸港正式启动全岛封关运作。 封关不是封闭，更不是封岛，而是进一步扩大开放。 自此，海南岛全岛成为一个海关监管特殊区域，实施以"'一线'放开、'二线'管住、岛内自由"为基本特征的自 由化便利化政策制度。从而加快吸引全球优质要素聚集，促进海南自贸港高质量发展，为全国改革开放探路 开路。 海南封关，将给我省带来哪些机遇和红利？为此，记者进行了采访。 A 外贸企业：可望降低关税成本 优化企业生产布局 2026年元旦前夕，甘肃西部粮源国际商贸有限公司负责人马全财的关注 ...

| 摘 要 | 争议广告引发冒犯和导致购买意愿下降之间不完全一致。大部分情况下，争议广告冒犯消费者会引发购买意愿下降，但仍存在一些争议广告，虽然 冒犯了消费者，但不会引发购买意愿下降。为了对这一反直觉现象在理论上予以揭示，需要进一步探究争议广告的作用机制。本研究通过扎根理论提炼解释 这一现象的理论模型。定性研究发现，争议广告会给消费者带来产品效用损失、心理效用损失、体验效用损失和情感损失，共同构成冒犯度。消费者基于感 知价值、产品依恋和转换成本的考量对争议广告产生容忍度，消费者购买意愿是否下降取决于冒犯度和容忍度之间的衡量比较，极端情况下跳过理性衡量程 序直接做出购买意愿维持或下降的决定。从长期来看，争议广告必然导致消费者购买意愿的下降。 | 关 键 词 | 争议广告 理论模型 扎根研究 01 引言 03 扎根研究 3.1 深度访谈 商业广告从诞生起，就遵循市场经济的发展逻辑，既是经济发展、商品繁荣的结果，也是促进经济发展的有效催化剂。广告本质决定了广告首要功能是帮助 广告主营销，这是无可厚非的，但广告在逐利的过程中也催生了很多异形的产物，在互联网时代的产物之一是博眼球的商业争议广告。商业争议广告是指因 产品 ...

广告圈的"渣女营销学"正在泛滥：追逐流量时，他们喊着"更懂女性"的口号拉近关系，转头就给女性贴上"生活白痴""贤妻良母"的刻板标签。靠冒犯性内 容赚得曝光后，若引发质疑轻描淡写致歉后，换个套路卷土重来。 尽管有全棉时代、宝洁们的前车之鉴，但同类型争议广告仍频频冒头。这种把女性尊严当作流量筹码的做法，究竟是成就品牌的流量密码，还是损害品牌 的致命毒药？广告行业该如何摒弃"渣女思维"？我们带来一些新的思考。 全棉时代曾因"女性卸妆"的广告遭全网怒怼，施华蔻将"原生发"直译为"处女发质"后致歉，宝洁因"女性脚臭是男性5倍"的不实科普广告被罚款70万，这 些广告翻车名场面，看似无关却藏着同一套"渣女逻辑"。 01."广告渣女学"套路大赏 套路一：用刻板印象锁死女性价值 核心特征：以"懂女性"为幌子，通过塑造"生活白痴"、"决策无能"等刻板印象否定女性价值。 具体表现：职场场景中，刻意呈现女性"不会做基础报表"的笨拙；生活场景里，设计"对智能家电手足无措、看不懂导航"的剧情，用无知凸显产品或男性 的"有用"。 同时将女性价值框定在"贤妻良母"标签内，如2024年蓝月亮母亲节广告"让妈妈洗衣更轻松"默认家务归女性，厨具品 ...

Core Viewpoint - Dongpeng Beverage has submitted an application for listing on the Hong Kong Stock Exchange, aiming to enhance its brand recognition and expand its market presence internationally, particularly in Southeast Asia [2][5]. Fundraising Purpose - The net proceeds from the listing will primarily be used for capacity expansion, supply chain upgrades, brand building, consumer engagement, national strategy implementation, overseas market exploration, digital transformation, product development, and general corporate purposes [4]. Previous Listing Attempts - Dongpeng Beverage previously submitted a listing application to the Hong Kong Stock Exchange on April 3, 2025, but the prospectus became invalid on October 3, 2025. The company had successfully listed on the A-share market in 2021 [4]. Market Strategy - The company aims to leverage the Hong Kong platform to attract global investors and enhance brand awareness, following the internationalization strategies of competitors like Red Bull and Monster [5]. Shareholder Considerations - A significant factor for the Hong Kong listing is the need for shareholders to reduce their holdings, as they have collectively reduced their stakes by over 5 billion yuan since the A-share listing [5]. Regulatory Challenges - Dongpeng Beverage faced regulatory scrutiny from the China Securities Regulatory Commission, requiring additional information regarding its business scope and compliance with foreign investment policies [6]. Financial Performance - Dongpeng Beverage has shown rapid revenue growth, with revenues of approximately 8.5 billion yuan in 2022, 11.26 billion yuan in 2023, and 15.83 billion yuan in the first half of 2025. Gross profits and net profits have also increased significantly during this period [7][8]. Product Strategy - The company has adopted a "1+6 multi-category strategy," focusing on its core product, Dongpeng Special Drink, while expanding into six new categories, including electrolyte drinks and coffee beverages [9]. Channel Development - Dongpeng Beverage is addressing the challenge of maintaining and upgrading its distribution channels while exploring e-commerce and new retail opportunities to cater to younger consumers [10].

然而，椰树的营销之路也伴随不少争议。2024年5月，椰树因"用椰汁擦乳"等广告语被罚款。此后，椰树似乎开始"裹紧衣服"，直播中的模特不再穿着紧 身衣，招聘海报也删去了"美女帅哥追"的表述。有网友发现，椰树甚至删除了过往模特跳舞的抖音作品。 营销风格的转变似乎也影响了椰树的热度。有网友坦言："最近刷不到椰树的'骚操作'，还以为它真的不行了。"这在一定程度上暴露了椰树对博眼球营销 的依赖。尽管椰树集团2023年销售额达到了50亿元，但其主要收入依然依赖经典椰汁产品，多年来未能推出具有同等影响力的新产品。 椰树集团前掌门人王光兴曾说过："椰树不怕争议，怕的是被市场遗忘。"这次"破产"乌龙事件，再次证明了椰树深谙此道。换句话说，此次"破产"无论是 有意还是无意，它又一次成功地让自己成为了话题中心。 近日，椰树集团总部大楼上一行醒目大字，"'椰树'破产谁救活"。此举让不少路过网友心里一惊。这红黄黑配色的招牌配上密集的排版，是椰树一贯的"牛 皮癣"风格，但"破产"二字还是让人忍不住猜测：这个号称"从小喝到大"的品牌，难道真要倒了？ 网友们很快发现，这更像是椰树的一次"自我表彰"。大楼窗户上还贴着黄底黑字的横幅："连亏七年 ...

Core Insights - The dairy market is experiencing intensified competition and a trend towards diversified and quality-driven consumer demand by 2025 [1] - Panda Dairy is focusing on concentrated dairy products, achieving notable operational results through market expansion, product innovation, and brand development [1] Financial Performance - In the first half of the year, Panda Dairy reported revenue of 353 million yuan and a net profit of 41.34 million yuan [2] - The traditional product, condensed milk, continues to perform well due to brand strength and a reliable supply chain, catering to the food service and beverage industries [2] Sales Strategy - Panda Dairy employs a "mainly distribution, supplemented by direct sales" model, with a strong presence in East and South China, having 146 distributors in East China and 89 in South China [2] - Direct sales to major food manufacturers have seen significant growth, enhancing the company's reputation and influence in the industry [2] Product Development - The company is actively expanding into the cheese and cream segments of concentrated dairy products, targeting the family consumption market with children's cheese and cheese snacks [2] - Panda Dairy is also focusing on plant-based products, launching coconut and rice-based items that have gained traction in tea and coffee applications [3] Growth in Plant-Based Segment - The plant-based product line generated revenue of 36.81 million yuan, marking a substantial 97% year-on-year increase, driven by the coconut product business [3] - The Hainan production base is crucial for this segment, with a production capacity of 4,810.93 tons in the first half of 2025 and plans to expand to 23,000 tons annually [3] Research and Development - The company has obtained a total of 77 patents and is collaborating with universities and research institutions to enhance its R&D capabilities [3] Future Vision - Panda Dairy aims to become the leading professional player in the concentrated dairy product sector, focusing on condensed milk, cheese, and cream while also advancing plant-based business development [4]

Core Insights - Panda Dairy reported a slight decline in revenue for the first half of 2025, achieving 353 million yuan, while net profit attributable to shareholders was 41.34 million yuan [1] - The company maintains a leading position in the concentrated dairy product sector, with concentrated dairy products generating 268 million yuan in revenue, a year-on-year increase of 3.80% [1] - The plant-based product line has emerged as a significant growth area, with coconut product revenue reaching 36.81 million yuan, marking a substantial year-on-year growth of 97.00% [2] Business Performance - Concentrated dairy products remain the main revenue driver, with a gross margin of 34.63%, up 0.87 percentage points from the previous year [1] - The company has a strong presence in East and South China, with 146 and 89 distributors respectively in these regions [1] - The cheese and cream segments are also showing promising results, with a focus on both B2B and B2C markets [1] Sales Channels - The company employs a "mainly distribution, supplemented by direct sales" strategy, with 400 signed distributors covering over 30 provinces [3] - Direct sales to major food manufacturers generated 83.97 million yuan, reflecting a 42.01% increase year-on-year [3] Innovation and R&D - Panda Dairy has secured 77 patents, enhancing its competitive edge through customized solutions for clients [3] - The company received a first-class award for technological advancement from the China Dairy Industry Association in 2025 [3] Future Outlook - The company plans to continue focusing on condensed milk, cheese, and cream while expanding into plant-based products [3] - The operational efficiency of production bases in Zhejiang, Shandong, and Hainan is expected to support future growth [3]

Core Viewpoint - Companies are misleading consumers by registering confusing trademarks, which increases consumer identification costs and may lead to a loss of trust in the long run [1][2][3] Group 1: Misleading Trademarks - Many brands use ambiguous trademarks that create confusion, such as "zero" or "zero additives," which consumers interpret as natural and free from additives, despite the lack of a unified industry definition [1][2] - Brands like "多半" (more than half) mislead consumers regarding product quantity, damaging brand reputation when the actual product does not meet expectations [1] Group 2: Consumer Trust and Brand Integrity - Consumers often assume that products with similar branding to well-known brands are of comparable quality, leading to potential disappointment when the actual product does not match expectations [2] - The erosion of trust occurs when brands use clever marketing tactics that obscure the true nature of their products, making it difficult for consumers to hold companies accountable [2][3] Group 3: Increased Consumer Identification Costs - The use of misleading trademarks complicates the purchasing process, increasing the difficulty for consumers to make informed decisions and leading to negative experiences [3] - Instances of brands claiming to be "sugar-free" while containing sugar illustrate how deceptive marketing can damage consumer trust and brand integrity [3]

Core Points - The 15th China (Nanjing) International Sugar and Wine Food Fair (CNWFF2025) will be held from June 20 to 22 at the Nanjing International Exhibition Center, showcasing the importance of the event in the food and beverage industry [1][3] - The fair will feature prominent brands such as Yanghe, Gujing, Jinshiyuan, Guotai, Wangwang, and Coca-Cola, providing a platform for industry professionals to network, exchange ideas, and observe industry trends [3][4] - Jiangsu Province is a key market for liquor brands, with beverage alcohol sales exceeding 100 billion yuan in 2024, accounting for approximately 10% of the national total, highlighting the significance of the Nanjing Sugar and Wine Fair for brand exposure [4][5] Industry Highlights - Major liquor-producing regions such as Jiangsu, Anhui, and Guizhou will have representative enterprises participating in the fair, showcasing their products and competitive strengths [5][8] - The fair will also feature a variety of food and beverage products, with over 10,000 items available for selection, catering to the upcoming sales peaks during the Mid-Autumn Festival and National Day [9] - Various activities, including industry seminars, new product launches, and regional brand promotions, will take place, enhancing the fair's role as a high-quality communication platform for the industry [10][12]