扬州市新闻传媒中心记者 屠明娟 文/图 8月22日—23日，扬州发布、扬州日报、扬州晚报陆续报道《扬州"山姆"开业时间定了！》的消息，受 到市民的广泛关注，有网友提出："胖东来啥时候来扬州？"有网友回复："SM广场金城万家超市已经有 胖东来专区了！"为此，记者专门进行了现场探访，发现随着M会员店、盒马鲜生、山姆会员店等陆续 进驻扬州市场，市民越来越期待胖东来、奥乐齐等更多的超市品牌进入本地市场，在超市消费模式悄然 发生变化的同时，现有超市也进入"调改"阶段。 记者探访 胖东来专区有啥？本土超市品牌今年有啥新变化？ 8月24日，记者探访SM广场金城万家超市了解到，这里不但新增了"胖东来商品专购区"，还新增了"奥 乐齐专购区"的字样，每个专区摆放着几十种来自胖东来、奥乐齐的网红商品，比如：果汁、坚果、食 用油、气泡水、洗衣液、酱油等，不少市民正在选购。 市民王女士说："之前去胖东来买过燕麦片、坚果等零食，还在奥乐齐买过好大一桶脆锅巴，味道很不 错，没想到现在扬州也能买到了，挺方便的。" 除了胖东来和奥乐齐专区，记者还注意到，金城万家超市内有不少自有品牌商品，涵盖饮料、酒、日用 品等多个品类。该超市相关负责人介绍， ...

Core Insights - Blue Moon Group reported a stable revenue of HKD 30.37 billion for the first half of 2025, with a significant reduction in losses by 34.4% to HKD 4.35 billion, indicating effective strategic adjustments and operational optimizations [1] - The board proposed an interim dividend of HKD 0.08 per share, reflecting management's confidence in cash flow and future operations [1] Revenue Breakdown - The core business showed resilience despite challenges in the consumer environment, with laundry care products generating HKD 26.41 billion, accounting for over 87% of total revenue [1] - Personal care products experienced a notable revenue growth of 12.4%, becoming the fastest-growing category [1] Channel Performance - Offline distributor channel revenue increased by 15% year-on-year, highlighting the effectiveness of the company's channel penetration and refinement strategies [1] - Although there was a slight decrease in the revenue share from online channels due to resource reallocation, Blue Moon maintained top sales positions for several core categories during the 618 shopping festival on major e-commerce platforms [1] Brand Strength - In 2025, Blue Moon's laundry detergent and hand sanitizer have ranked first in the China Brand Power Index for 15 consecutive years, indicating a deepening brand moat [1] Strategic Outlook - For the second half of the year, Blue Moon plans to advance three key strategies: providing comprehensive home cleaning solutions, enhancing omni-channel sales and distribution efficiency, and strengthening user awareness through "scientific washing" knowledge marketing [2] - The company will also deepen digital factory construction and promote green low-carbon packaging to enhance long-term competitiveness in sustainable growth [2]

上半年由盈转亏，在永辉超市（601933.SH）今日召开的公司业绩说明会上，公司全年业绩展望、门店 调改进度以及调改店经营情况成为投资者尤为关注的问题。 结合财报来看，上半年，公司一共关闭了227家亏损门店。截至报告期末，公司已开业门店合计552家， 调改开业门店124家。谈及调改门店的经营情况，吴凯之介绍，调改店完成后，销售相比调改前取得了 非常明显的增长。此外，进入稳定经营期的调改店，整体也已进入稳定盈利状态。 从调改节奏来看，据公司官微消息，截至本月15日，永辉超市全国自主调改门店总数达到160家。公司 并计划，到9月底，实现全国调改门店达到200家。 与此同时，闭店在下半年也还将继续。董事长张轩松介绍，公司的闭店工作正在按既定战略稳步推进， 今年下半年的闭店数量，会依据市场状况以及门店的综合经营情况来确定。 门店调改的同时，永辉超市还在推进自有品牌产品。张轩松介绍称，截至目前，公司自有品牌已上架橙 汁和洗衣液两款产品，市场反响不错。全年计划上新60支单品，覆盖日用、食用标品等。 考虑到上半年归母净利润亏损，有投资者担忧公司会有ST风险。对此，董秘黄晓枫回应称，公司目前 有可持续经营能力，没有ST风险。 ...

Core Viewpoint - Sam's Club in China is facing challenges due to its large packaging strategy, which may not align with the consumption habits of smaller Chinese households, leading to potential waste and dissatisfaction among members [5][8][10]. Group 1: Sam's Club's Business Model - Sam's Club operates on a membership-based model, offering large quantities of products at lower unit prices, which is effective in the U.S. due to larger household sizes and storage spaces [7][8]. - The club's strategy of bulk purchasing allows it to reduce costs and maintain competitive pricing by leveraging economies of scale [7][8][9]. Group 2: Market Adaptation Challenges - In China, the average household size has decreased from 3.10 in 2010 to 2.62 in 2020, with a significant rise in one-person and two-person households, making bulk purchases less practical [8][9]. - The preference for fresh food and high shopping frequency among Chinese consumers contrasts with Sam's Club's model of infrequent, large purchases [9][10]. Group 3: Target Demographics - Sam's Club's primary customer base consists of urban middle-class consumers, with a significant portion of sales coming from food items, which are harder to consume in bulk [10][12]. - The average annual spending per member at Sam's Club is 14,000 yuan, which is significantly higher than that of other e-commerce platforms, indicating a strong but niche market [10][12]. Group 4: Consumer Behavior and Perception - The perception of value among members is tied to the quality and uniqueness of products offered, which can be undermined by the introduction of lower-quality items [12][13]. - The distance to Sam's Club locations and the large packaging sizes create barriers for frequent visits, leading to potential over-purchasing and waste [15][16]. Group 5: Marketing and Social Media Influence - Sam's Club has successfully leveraged social media to create a buzz around its products, appealing to younger consumers seeking a taste of middle-class lifestyle [12][13]. - The emergence of a "splitting and reselling" market for bulk items reflects the mismatch between Sam's Club's offerings and the needs of smaller households [12][13].

Summary of Key Points Core Viewpoint - The Shanghai Municipal Market Supervision Administration conducted a quality inspection of laundry liquid products, revealing that all 20 sampled batches met the relevant quality standards, indicating a positive trend in product quality within the industry [2]. Group 1: Inspection Details - A total of 20 batches of laundry liquid products were sampled from various regions, including Shanghai, Anhui, and Zhejiang [2]. - The inspection was based on the implementation guidelines SHSSXZ0005-2025 for liquid detergents in Shanghai [2]. - All sampled products were sourced from physical retail outlets, ensuring a comprehensive assessment of market offerings [2]. Group 2: Product Information - The inspection included products from both local and external manufacturers, with 4 batches from Shanghai and 16 from other provinces [2]. - Notable brands included Blue Moon, OMO, and others, with various specifications such as 1kg, 2kg, and 5kg packaging [2]. - The inspection results highlighted a range of products, including those with specific features like antibacterial properties and natural ingredients [2][3].

Core Viewpoint - The article emphasizes the importance of large-scale cultural events, such as the "Moonlight in All Directions Concert," in connecting people emotionally in a fragmented society, showcasing how brands like Blue Moon leverage art to resonate with consumers' emotions and values [3][5][10]. Summary by Sections Event Overview - The "Moonlight in All Directions Concert," sponsored by Blue Moon and produced by the Central Radio and Television Station, serves as a prelude to the Mid-Autumn Festival, aiming to elevate national sentiment as the full moon approaches [3]. - This concert, held on the Blue Moon Supreme cruise ship, combines music, scenic views, and cultural expressions, creating an immersive experience that transcends traditional formats [3]. Emotional Connection - The concert's core message revolves around "emotion," with the "full moon" symbolizing a bond among citizens. The event achieved a total online viewership of 61.186 million, reaching an audience of 532 million [5]. - On Weibo, the concert's hashtag garnered over 340 million views, ranking first in the variety show index, indicating a strong emotional resonance with the audience [5]. Aesthetic Society - The concept of an "aesthetic society" suggests that consumer choices are increasingly driven by aesthetic values rather than mere functionality. This shift reflects a broader trend where consumers seek emotional connections through brands [6][8]. - Blue Moon's strategy of integrating art into its brand narrative aligns with this trend, allowing the brand to differentiate itself in a competitive market by fostering emotional resonance and cultural identity [6][8]. Long-term Brand Strategy - Blue Moon's commitment to using art as a medium for brand expression is a long-term strategy, aiming to redefine cleanliness as a lifestyle and aesthetic value rather than just a functional necessity [8][11]. - The brand's collaboration with the Mid-Autumn Festival has been ongoing for 12 years, emphasizing a consistent narrative of "clean art and beautiful living" that resonates with consumers [13][15]. Cultural Significance - The moon, as a symbol of reunion and purity in Chinese culture, naturally aligns with Blue Moon's brand identity, enhancing emotional connections with consumers [10][11]. - The artistic expression in the concert reflects Blue Moon's values of cleanliness, order, and aesthetic comfort, reinforcing the brand's commitment to a holistic view of cleanliness that encompasses physical, psychological, and aesthetic dimensions [11][18]. Consumer Engagement - Blue Moon's approach to consumer engagement extends beyond traditional marketing, focusing on creating meaningful experiences that resonate with consumers' emotional and aesthetic needs [20][26]. - The brand's initiatives, such as the "Blue Moon Festival" and "Laundry Master" events, aim to educate consumers on cleaning techniques while fostering a deeper connection with the brand [22][24]. Broader Impact - Blue Moon's ongoing support for various cultural and social initiatives reflects its commitment to a broader narrative of cleanliness and well-being, positioning the brand as a leader in the daily consumer goods sector [27].

Core Viewpoint - The company RYUCHEN plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance its capital strength, competitiveness, and international brand image [1][4] Group 1: H-share Listing Plans - RYUCHEN is in discussions with intermediaries regarding the issuance of H-shares, with details yet to be finalized [1] - If successful, RYUCHEN could become the first operating company to achieve an "A+H" share structure [1] - The CEO of iiMedia Consulting, Zhang Yi, noted that listing H-shares can optimize the shareholder structure by attracting more international institutional investors [1][3] Group 2: Financial Performance - RYUCHEN's stock price reached a high of 64.68 CNY per share in 2025, with a market capitalization exceeding 14 billion CNY, but has recently declined to 53.79 CNY per share, with a market cap of 11.76 billion CNY [1] - The rolling P/E ratio stands at 107.23, significantly higher than the Shenzhen A-share average of 27.54 [1] - In 2024, RYUCHEN's revenue grew by 29% to 1.766 billion CNY, with net profit increasing by 95% to surpass 100 million CNY [5] Group 3: Business Expansion and Strategy - RYUCHEN's primary business is e-commerce operations, but it has expanded into brand management and has developed its own brands, including ZHENJIA and FICUI [5] - The company aims to leverage its global strategy to enhance international influence and integrate global resources [4][6] - RYUCHEN plans to prioritize its own brand ZHENJIA for international expansion, focusing on the Southeast Asian market [6] Group 4: Market Conditions and Regulatory Environment - The recent policy changes in the capital market, including relaxed listing conditions for A+H share companies, have created a favorable environment for RYUCHEN's plans [7][8] - The company acknowledges that the international capital market has stricter requirements for information disclosure and corporate governance, which may increase compliance costs [9]

Core Viewpoint - The rise of hard discount retailing is driven by rational consumer behavior and intense competition in supply chain efficiency, with companies like Wumart entering the market alongside established players like Hema and Jiajiayue [1] Group 1: Company Developments - Wumart has launched its first six hard discount stores named "Wumart Super Value" in Beijing, marking its entry into the community hard discount market [1] - The new stores have significantly reduced their product offerings to under 1,300 items, which is only 15% of the typical Wumart hypermarket, focusing on fresh produce, meats, and baked goods [2] - Wumart's hard discount stores emphasize low pricing rather than promotional discounts, with notable price reductions on various products, such as a 120g facial cleanser reduced from 34.99 yuan to 29.8 yuan [2] - Over 60% of the products in Wumart's hard discount stores are private label items, which are priced competitively, such as 1-liter non-GMO soybean milk at 5.9 yuan [2][3] - Wumart plans to open 25 additional "Wumart Super Value" stores in Beijing within the year, aiming for higher turnover efficiency and reduced operational costs through streamlined supply chain processes [3] Group 2: Industry Trends - The hard discount format is not new, originating from international brands like Aldi, which has successfully expanded in China, achieving a sales growth of 100% to 2 billion yuan in 2024 [4] - Domestic competitors are also entering the hard discount space, with Hema and Jiajiayue launching their own discount formats to leverage their supply chains and reduce costs [4] - E-commerce platforms are also exploring the hard discount model, with Meituan planning to open its first hard discount store "Happy Monkey" in Beijing and Hangzhou [5] Group 3: Market Challenges - The rise of hard discount stores reflects a shift in consumer behavior towards value and quality over brand loyalty, necessitating improved supply chain management from retailers [6] - Maintaining high quality at low prices poses significant challenges for hard discount retailers, as any failure in product quality can quickly erode customer trust [7] - The market has seen failures, such as the abrupt closure of discount operator Biyide, which struggled with operational management and market demand despite initial funding [7]

Group 1 - A new type of online shopping scam has emerged, where fraudsters set up online stores to deliberately send incorrect or low-quality products, luring consumers into private transactions under the guise of "after-sales compensation" [1][2] - The number of reported cases of this scam is rapidly increasing, prompting police to warn consumers to remain vigilant [1] - Scammers often use tactics such as enticing consumers with small refunds or commissions initially, only to later demand larger sums under various pretexts, leading to significant financial losses [1][2] Group 2 - Fraudsters typically operate by registering as individual businesses on platforms like Douyin, Kuaishou, and Taobao, selling everyday items and intentionally sending wrong or inferior products to provoke complaints [2] - The scams follow a clear pattern: after receiving complaints, they guide consumers to private communication channels, where they employ both enticing offers and threats to extract money [2] - Police emphasize that legitimate businesses will never require consumers to transfer money, perform tasks, or download unfamiliar software for after-sales service [2][3] Group 3 - Authorities are calling for e-commerce and social media platforms to enhance store monitoring and prominently display anti-fraud warnings in customer service interfaces [3] - Consumers are advised to report suspected scams immediately by calling the police [3]

Core Viewpoint - Recent reports indicate a rise in online shopping scams where fraudsters exploit after-sales service as a means to lure victims into financial traps [1][2][3] Group 1: Scam Techniques - Fraudsters intentionally send incorrect or low-quality products to customers, prompting them to contact customer service, which leads to a scam under the guise of after-sales compensation [1][2] - Victims are often directed to scan QR codes or add customer service representatives on private messaging platforms, allowing scammers to evade platform oversight [2][3] - Scammers use various tactics, including promising refunds, additional compensation for positive reviews, and investment opportunities, to manipulate victims into transferring money [2][3] Group 2: Victim Experiences - One victim, Mr. Li, was lured into a scam after receiving the wrong product and was promised compensation through a series of tasks, ultimately losing tens of thousands of yuan [1] - Another victim, Ms. Wang, was convinced to invest in a fraudulent scheme after being promised high returns, resulting in a loss of 50,000 yuan [2] - A third victim, Ms. Zhang, faced threats of legal action and family repercussions, which pressured her into transferring a significant amount of money to the scammers [3] Group 3: Law Enforcement Response - Beijing police have identified a surge in fraudulent online shops across various platforms, with a wide range of products being sold [3] - Authorities emphasize that legitimate businesses will never require customers to transfer money or perform tasks for after-sales service [3][4] - Police urge social media and e-commerce platforms to enhance monitoring and provide clear warnings to consumers about potential scams [4]