南京硬折扣超市 "硬"在哪 凭借数据与供应链优势，南京硬折扣超市以极致效率切入民生消费 凭借数据与供应链优势，南京硬折扣超市以极致效率切入民生消费 在南京，出现在街头巷尾的硬折扣超市"硬"控了不少消费者。2025年12月30日，本土企业汇通达布局的 首个硬折扣赛道项目——"折折蜂"社区硬折扣超市首批10家门店，在南京同日亮相。1月4日，汇通达又 宣布拓店计划，预计春节前会在南京市场开出一批新店。此外，近期盒马也在南京密集布点同一赛道的 超盒算NB（前身为"盒马NB"），"队友"奥乐齐也官宣于1月24日"四店同开"。 硬折扣超市究竟因何而"硬"？又如何持续保持竞争力？ 供应链改革省去中间环节加价 供应链改革省去中间环节加价 供应链改革省去中间环节加价 在供应链环节，传统商超多与经销商、分销商对接，而硬折扣超市普遍直接连接产地或工厂。生鲜产品 能通过源头直采保证新鲜，同时削减批转费用；包装商品则借助定制生产与自有品牌，消除品牌溢价与 渠道加价，从源头控制成本。 据介绍，折折蜂采用的是"联营+自采"的供应链模式，即一部分商品来自汇通达的自营品牌，一部分通 过与硬折扣行业企业的联营，保障门店内约60%商品直接来自工厂 ...

在龙里县，"企业之家"依托平台优势，创新构建政银企协同服务机制。以标准化流程、精准化对接、全链条服务，为县域企业注入金融活 水。位于龙里高新技术开发区的贵州贝佳科技有限公司，日均生产洗衣液800吨、洗衣凝珠300万颗。今年6月，企业计划升级设备扩大产 能，却遭遇资金缺口。"企业之家"服务专员迅速启动"园区融资服务一件事"机制，联合金融办、工商银行及企业特派员组建专项服务队， 上门开展"一对一"融资辅导。通过精准评估企业财务状况和市场前景，量身定制融资方案，仅用7个工作日便促成500万元贷款落地，助力 企业顺利完成设备升级。 龙里县"企业之家"打造标准化服务流程，将贷款申请拆解为需求受理、政策匹配、银行对接等7个环节，形成"企业点单、平台派单、银行 接单、网格督单"的闭环机制。通过编制《金融产品汇编》、建立企业信用档案，融资匹配效率提升60%，助力企业降本增效。推出"4 + 2 + N"服务体系，梳理"园区一件事"增值服务清单，实现"园区事园区办"。今年已帮助150余家企业解决诉求，推动金融资源精准服务实体经 济。 惠水县同样积极探索创新，一项"政银企"高效联动机制持续发力。县"企业之家"将服务功能前移至银行网 ...

记者丨李振 编辑丨蒋韵 广东十大战略性支柱产业集群中有6个属于传统产业范畴，汽车家电、石化纺织、钢铁建材、机械等占 规模以上制造业增加值比重超七成，利税占65%。 全国范围内，不少传统产业不可避免地走到了转型时刻——低端供给过剩、高端供给不足、要素成本上 升，其竞争优势面临很大挑战。而广东通过主动引导企业跨界创新、转型升级，让不少产业焕发新生。 谈及广东，人们总是最先想到"经济第一大省"的标签。作为经济总量占全国比重长期保持在10%以上的 省份，广东是全国经济当之无愧的"领头羊"。 看总量，广东GDP连续36年居全国首位，也是首个突破14万亿元的省份；看增量，广东GDP自2019年起 接连跨越10万亿元、11万亿元、12万亿元、13万亿元、14万亿元五道大关。 当然，压力也不小。广东处于"两个前沿"风口浪尖，承压更早更大，同时作为率先发展起来的地区，也 较早遇到转型的难题。广东发展不平衡不充分问题仍然突出，而新旧动能转换也正处于提速和突破阶 段。 一个较为客观的评价：经济体量大，意味着高速增长的难度也更大，"经济增长的每一个点都来之不 易"。对广东而言，增长不仅比过去难，也比其他省份难。 但越是在新旧动能交替 ...

记者丨李振 编辑丨蒋韵 谈及广东，人们总是最先想到"经济第一大省"的标签。作为经济总量占全国比重长期保持在10%以上的省份，广东是全国经济当之 无愧的"领头羊"。 看总量，广东GDP连续36年居全国首位，也是首个突破14万亿元的省份；看增量，广东GDP自2019年起接连跨越10万亿元、11万亿 元、12万亿元、13万亿元、14万亿元五道大关。 一个较为客观的评价：经济体量大，意味着高速增长的难度也更大，"经济增长的每一个点都来之不易"。对广东而言，增长不仅比 过去难，也比其他省份难。 但越是在新旧动能交替的关键阶段，越能催生出一种穿越周期的能力。作为经济大省，广东当仁不让地担负起为全国发展大局挑大 梁的重任，在很长一段时间以来，凭借完整产业链构成的"超级生态"、1.5亿实时人口支撑的"超级市场"、千行百业融合催生的"超级 场景"，拼出了一个基础稳、结构优、活力足、潜力大的基本面，奠定了穿越周期的信心与底气。 穿越周期的广东"进化论" 长期以来，传统产业撑起了广东经济的高速增长奇迹。 广东十大战略性支柱产业集群中有6个属于传统产业范畴，汽车家电、石化纺织、钢铁建材、机械等占规模以上制造业增加值比重超 七成，利税 ...

谈及广东，人们总是最先想到"经济第一大省"的标签。作为经济总量占全国比重长期保持在10%以上的 省份，广东是全国经济当之无愧的"领头羊"。 看总量，广东GDP连续36年居全国首位，也是首个突破14万亿元的省份；看增量，广东GDP自2019年起 接连跨越10万亿元、11万亿元、12万亿元、13万亿元、14万亿元五道大关。 当然，压力也不小。广东处于"两个前沿"风口浪尖，承压更早更大，同时作为率先发展起来的地区，也 较早遇到转型的难题。广东发展不平衡不充分问题仍然突出，而新旧动能转换也正处于提速和突破阶 段。 一个做装修瓷砖起家的建材巨头，为何密集布局硬科技赛道？ 蒙娜丽莎集团董事张旗康认为，"今天房地产行业造成的困难不代表永远的困难，蒙娜丽莎作为上市公 司，在聚焦做好主业的前提下，也希望在大陶瓷范围内找到第二增长曲线。" 一个较为客观的评价：经济体量大，意味着高速增长的难度也更大，"经济增长的每一个点都来之不 易"。对广东而言，增长不仅比过去难，也比其他省份难。 但越是在新旧动能交替的关键阶段，越能催生出一种穿越周期的能力。作为经济大省，广东当仁不让地 担负起为全国发展大局挑大梁的重任，在很长一段时间以来，凭借 ...

Core Insights - The company, Blue Moon, is facing a significant profitability crisis despite its collaboration with top livestreamers to boost sales, indicating a strategic dilemma in its operations [1][5]. Group 1: Strategic Misalignment - Blue Moon's current predicament stems from an over-reliance on online channels, particularly e-commerce livestreaming, which has led to a "channel tax" that pressures profit margins [2][6]. - The brand has distanced itself from traditional offline channels, resulting in a weakened connection with everyday consumers and a lack of a stable offline foundation to buffer against rising online costs [2][6]. - This "one-legged" channel strategy has diminished Blue Moon's bargaining power with increasingly dominant online platforms and influencers, further squeezing profit margins [2][6]. Group 2: Innovation and Product Matrix Challenges - Blue Moon's pace of product innovation has lagged behind market changes, failing to introduce disruptive product concepts after establishing itself with "deep cleaning" as a key innovation [3][7]. - The company has become overly dependent on its laundry cleaning product line, lacking a diversified product matrix to address the growing segmentation in the home cleaning market [3][7]. - Brand reputation is under threat due to product quality controversies and negative publicity, eroding consumer trust and diminishing appeal among younger demographics [3][7]. Group 3: Need for Strategic Reevaluation - In the ever-evolving consumer goods industry, Blue Moon must rediscover its innovative spirit and find a new balance between maintaining its core offerings and embracing change [4][8]. - As consumers begin to scrutinize the true costs of livestream sales, it may be time for Blue Moon to reassess its strategic direction [4][8].

Core Insights - The renovation of the Huijia Times Changji Shopping Center supermarket in Xinjiang focuses on enhancing product quality, optimizing the supply chain, and upgrading service systems, aiming to invigorate the local consumer market [1] Group 1: Product Quality and Offerings - The upgraded supermarket features a bakery area that offers freshly baked goods daily, including milk-flavored bread and crispy snacks, which are sold on the same day they are made [1] - The introduction of a dedicated section for the "Fat Donglai" brand has attracted customers looking for high-quality daily necessities, such as cooking oil and cleaning products [1] Group 2: Supply Chain Optimization - The supermarket has actively introduced a range of "Fat Donglai" products and has stocked up on various food items, cleaning supplies, and other essentials in preparation for the upcoming National Day holiday shopping peak [1] - The restructuring of product offerings aims to meet the diverse shopping needs of both young and older consumers, enhancing the overall shopping experience [1] Group 3: Service Enhancements - A new convenience service area has been established for shoppers to rest, with amenities such as free drinking water and daily necessities available [1] - The implementation of fair scales for weighing products ensures consumer rights are protected, reflecting a commitment to integrity in business operations [1]

Group 1 - The core theme of the promotion is "Nine is the time to decorate and replenish the home," running from September 13 to 21, 2025, offering significant discounts to consumers [2][3] - Consumers can participate in a daily flash sale at 11 AM, where they can purchase a 1,000 yuan voucher for only 9.9 yuan, limited to one per person, which can be used to offset large orders [2] - Additional rewards are available for purchases over 2,000 yuan, including various gifts such as laundry beads, wine, and kitchen appliances, enhancing the shopping experience [2] Group 2 - The promotion includes a special event on September 14 and 21, where customers who place two different brand orders, each over 2,000 yuan, can enter a red envelope draw with prizes ranging from 18 to 4,999 yuan [2] - The company emphasizes its commitment to providing high-quality and cost-effective home products, making this promotion an excellent opportunity for consumers to refresh their homes this autumn [3] - Customers are encouraged to set reminders for the promotion and participate actively to maximize their benefits during the event [3]

Investment Rating - The investment rating for the company is "Accumulate" [1] Core Views - The company has demonstrated strong growth in its private label and brand management business, showcasing robust brand incubation capabilities [3] - The company reported a significant increase in revenue and net profit for the first half of 2025, with revenue reaching 1.319 billion yuan, a year-on-year growth of 67.55%, and net profit of 72 million yuan, up 85.6% [2] Summary by Sections Financial Performance - In the first half of 2025, the company's revenue from different segments was as follows: 380 million yuan from agency operations, 340 million yuan from brand management, and 600 million yuan from private label, with year-on-year changes of -2.79%, +53%, and +242% respectively [3] - The gross profit margin for the first half of 2025 was 56.92%, an increase of 11.4 percentage points year-on-year, primarily due to improved margins in agency operations and a higher proportion of revenue from private label products [3] Brand Development - The brands "Zhanjia" and "Feicui" are expanding their product categories around home cleaning and anti-aging, establishing a comprehensive multi-channel marketing capability [4] - "Zhanjia" has launched 18 different fragrance variants of its core product "Four Seasons Bloom Laundry Liquid," which accounts for over 40% of total sales [4] - "Feicui" achieved revenue of 160 million yuan in the first half of 2025, with a significant increase in sales through various channels, including a 62% quarter-on-quarter growth in GMV [5] Shareholder Returns - The company announced a mid-term dividend plan, proposing a cash dividend of 3 yuan per 10 shares, totaling approximately 65.6 million yuan, and a capital reserve conversion of 4 shares for every 10 shares held [7] - A share buyback plan was also announced, with a budget of 100 to 200 million yuan to repurchase 1.3 to 2.6 million shares, reflecting confidence in long-term growth [7] Earnings Forecast - The earnings forecast for 2025-2027 has been revised upwards, with expected revenues of 2.983 billion yuan, 3.848 billion yuan, and 4.619 billion yuan respectively, and net profits of 179 million yuan, 265 million yuan, and 339 million yuan [8] - The expected EPS for the same period is 0.82 yuan, 1.21 yuan, and 1.55 yuan, with corresponding PE ratios of 74, 50, and 39 times [8]

Core Viewpoint - The company reported strong revenue and profit growth in the first half of 2025, with a revenue of 1.319 billion yuan, a year-on-year increase of 67.55%, and a net profit of 72 million yuan, up 85.60% year-on-year, indicating enhanced profitability and operational quality [1] Group 1: Revenue Growth - The company's proprietary brand business saw significant growth, achieving revenue of 603 million yuan, a substantial increase of 242.42%, accounting for 45.75% of total revenue [1] - The brand management business generated revenue of 335 million yuan, reflecting a year-on-year growth of 52.53%, contributing 25.42% to total revenue [1] - The agency operation business reported revenue of 380 million yuan, with a gross margin improvement of nearly 10 percentage points compared to the same period last year [1][9] Group 2: Brand Performance - The LYCOCELLE brand "Zhenjia" achieved revenue of 444 million yuan, a year-on-year increase of 157.11%, driven by innovative product offerings and effective marketing strategies [2][3] - The "FineNutri" brand generated revenue of 160 million yuan, with significant growth in the second quarter compared to the first quarter, supported by new product launches and collaborations [6] - During the 618 shopping festival, the brand "Zhenjia" saw over 160% growth in GMV across all channels, ranking first in the Tmall home cleaning industry [4] Group 3: Innovation and Product Development - "Zhenjia" launched several successful products, including the "Four Seasons Fragrance" laundry liquid, which saw sales increase by over five times on its first day [3] - "FineNutri" expanded its product matrix with new offerings such as the "Stress Relief Serum" and "Beauty Light Serum," achieving top rankings in various categories on e-commerce platforms [6] Group 4: Digital Transformation and Talent Development - The company is accelerating its digital transformation by leveraging AI technologies to enhance operational efficiency across various business processes [10][11] - A focus on talent development is evident, with efforts to build a diverse talent pool that supports the company's multi-channel strategy and innovation in product development [11] Group 5: Future Outlook - The company plans to continue its coordinated development of proprietary brands, brand management, and agency operations, with a focus on the health and personal care sectors [11] - There is an emphasis on exploring new opportunities in the evolving consumer landscape, aiming to strengthen competitive advantages through comprehensive brand strategies and product innovations [11]