此次两家企业入选中国消费名品公示名单，不仅提升了我市消费品工业品牌的知名度和美誉度，也充分彰显了我市在品牌建设和科技创新方面取得的显著 成效。 近日，工业和信息化部公示2025年度中国消费名品名单，我市溜溜果园集团股份有限公司（溜溜梅）、三只松鼠股份有限公司（三只松鼠）2家企业入选 （全省共5家），入选企业数量并列全省第一。 公示时间： 2026年1月5日至2026年1月9日 联系电话： 附件： 工业和信息化部消费品工业司 2026年1月4日 往 期 回 顾 根据《工业和信息化部办公厅关于组织征集2025年度中国消费名品的通知》（工信厅消费函〔2025〕378号），经企业申报、省级工业和信息化主管部门 初审推荐、专家评审，并征求国家发展改革委、民政部、生态环境部、商务部、应急管理部、市场监管总局、国家知识产权局、国家药监局、全国妇联、 中国残联、全国工商联、中国消费者协会等单位及有关行业协会意见，现将2025年度中国消费名品名单公示5个工作日。如有异议，请在公示期内与工业 和信息化部消费品工业司联系。 ...

作为最传统也最有效的营销方式，代言人营销始终占据品牌传播的核心位置，诞生过许多经典案例。 往远看，周杰伦一句"把你捧在手心"，让优乐美成为80、90后的青春记忆；和杨幂的合作，则让溜溜梅成功破圈，知名度连上数个台阶。往近看，台铃电 动车牵手王一博后，品牌搜索指数暴涨2740%；肖战成为欧莱雅男士全球代言人当天，品牌全平台销售额飙升，多款产品售罄。 长期以来，大牌明星、顶流偶像一直是各大品牌争抢目标。但如今，代言人营销思路发生了许多改变："冷门"代言人愈发常见，顶流不再是唯一选项；代 言人数量激增、更换频率加快，甚至出现"泛滥"之势。 变化背后，有着复杂的市场成因：市场竞争加剧、传播媒介碎片化，消费者也需要更真实、多元的情感连接。代言人营销的核心价值或许从未改变，但品 牌的具体策略需要与时俱进，才能在变局中延续生命力。 品牌代言人新趋势：多元混搭、热衷玩梗、日渐"邪门" 代言人营销的重要性毋庸置疑。 根据东娱传媒发布的《2025代言人营销白皮书》，今年前三季度代言人官宣数量同比增长22.61%，呈现量价齐飞态势，品牌依旧十分依赖这一营销手 段。但面对流量红利减退、舆论趋势飘忽不定、用户审美日趋多元的新局面，品牌 ...

Core Insights - The article discusses the rising trend of "mystical snacks" among young consumers, highlighting how brands are leveraging this interest to create products that resonate with their emotional needs [1][16][21] Group 1: Consumer Behavior - Young consumers are increasingly incorporating mystical elements into their daily lives, such as fortune-telling and rituals, reflecting a shift from traditional beliefs to modern interpretations of luck and fortune [1][16] - The consumption of mystical snacks serves as a low-cost emotional outlet for young people, with 88.2% feeling significant stress and over 60% using consumption to alleviate anxiety [16][21] Group 2: Brand Strategies - Brands like OREO and Wangwang are creatively aligning their products with positive connotations, using names and shapes that symbolize good fortune, such as "升升" (rising) and "柿柿如意" (everything goes well) [6][10][18] - The marketing strategies include visualizing good luck through product design, such as making dumplings look like persimmons, and enhancing the ritualistic aspect of eating snacks to create a sense of blessing [18][19] Group 3: Market Performance - The sales performance of mystical snacks has been impressive, with products like "柿柿如意" dumplings achieving over 100 million in sales within three months, indicating a strong market demand [16] - The success of these products is attributed to their ability to transform abstract feelings of anxiety into tangible experiences, effectively turning snacks into "spiritual supply stations" for consumers [21]

Core Viewpoint - Liuliu Fruit Garden Group Co., Ltd., the parent company of the "Liuliu Mei" brand, is urgently seeking to enter the capital market, having submitted its listing application to the Hong Kong Stock Exchange for the fourth time after previous attempts failed [1][3]. Group 1: Listing Attempts and Financial Pressure - The company has made multiple attempts to go public, including a withdrawal of its A-share application in December 2019 due to revenue decline and short-term profit pressure [2][3]. - A significant buyback obligation arose from a previous investment agreement, leading to a total payment of approximately 261 million yuan, which severely impacted the company's cash flow [3][4]. - As of the end of 2024, the company's cash and cash equivalents were only 78.05 million yuan, while interest-bearing bank loans reached 321 million yuan, indicating a deteriorating financial position [5][6]. Group 2: Revenue Growth and Channel Transformation - The company has shown steady revenue growth, achieving revenues of 1.174 billion yuan in 2022, 1.322 billion yuan in 2023, and 1.616 billion yuan in 2024 [7][8]. - In the first half of 2025, the company reported revenues of 959 million yuan, a year-on-year increase of approximately 25%, with net profits rising by 75.4% to 106 million yuan [8]. - The sales channel transformation has been significant, with the share of revenue from traditional distribution channels dropping from 74.5% to 31.2%, while revenue from snack specialty stores surged from 1.1% to 35.3% [8][10]. Group 3: Profitability Challenges - Despite revenue growth, the company's gross margin has been declining, from 38.6% in 2022 to 34.6% in the first half of 2025 [11][12]. - The gross margin for core products, such as dried plums, has also decreased significantly, indicating challenges in maintaining profitability amid a shift to lower-margin sales channels [11][12]. - The company faces dual pressures from the D-round financing deadline for listing and declining profitability due to its low-price volume strategy in new sales channels [12][13].

Core Viewpoint - Liuliu Fruit Garden Group Co., Ltd., the parent company of the "Liuliu Mei" brand, is urgently seeking to enter the capital market, having submitted its listing application to the Hong Kong Stock Exchange for the fourth time after previous attempts failed due to various challenges [1][3]. Group 1: Listing Attempts and Financial Pressure - The company has faced significant pressure from a bet agreement with investors, which requires it to go public by the end of 2025 or face substantial financial penalties [2][3]. - Liuliu Fruit Garden's cash flow has been severely impacted by the repayment of 261 million yuan, which includes the original investment and interest, far exceeding the initial investment of 135 million yuan [3][4]. - As of the end of 2024, the company's cash and cash equivalents were only 78.05 million yuan, while interest-bearing bank loans reached 321 million yuan, indicating a deteriorating financial position [5][6]. Group 2: Revenue Growth and Channel Transformation - The company has shown steady revenue growth, achieving 1.174 billion yuan in 2022, 1.322 billion yuan in 2023, and 1.616 billion yuan in 2024, with a net profit increase from 68.43 million yuan in 2022 to 148 million yuan in 2024 [7][8]. - A significant shift in sales channels has occurred, with the revenue share from traditional distribution channels dropping from 74.5% to 31.2%, while revenue from snack specialty stores surged from 1.1% to 35.3% [8][10]. - The company’s reliance on a few major clients has increased, with the top five clients accounting for 43.7% of revenue in the first half of 2025, raising concerns about potential revenue volatility if these relationships change [10]. Group 3: Profitability Challenges - Despite revenue growth, the company's gross margin has been declining, from 38.6% in 2022 to 34.6% in the first half of 2025, primarily due to a low-price volume strategy adopted to compete in new sales channels [11][12]. - The gross margin for core products, such as dried plums, has also decreased significantly, indicating challenges in maintaining profitability amid aggressive pricing strategies [11][12]. - The company faces a critical need to balance expansion and profitability while navigating the pressures from both capital requirements and market competition [13].

Core Insights - Sam's Club has faced significant backlash from its members following an app update that introduced features perceived as overly complicated and less transparent, leading to a wave of negative reviews and calls for boycotts against new management [1][3][4] - The backlash reflects deeper issues regarding the brand's identity and its alignment with the values of its middle-class consumer base, who view Sam's as a symbol of quality and exclusivity [5][10][12] Group 1: Member Sentiment and Brand Identity - The dissatisfaction with the app update stems from a long-standing expectation among middle-class families for high-quality, carefully curated products that simplify their shopping experience [3][4] - Members are not just purchasing a membership; they are buying into an identity that signifies access to a superior lifestyle, which is threatened by perceived changes in product quality and brand strategy [7][10] - The rapid expansion of Sam's Club has diluted its exclusivity, leading to concerns that the brand may lose its appeal to its core demographic [12][17] Group 2: Competitive Landscape and Strategic Challenges - Sam's Club is under pressure from both traditional competitors like Costco and emerging players such as Hema and online platforms, necessitating a strategic shift to maintain market relevance [13][15] - The company has accelerated its store openings, planning to increase from 5-6 stores annually to 6-7 by 2024, with a record 8 new stores planned for this year [10][12] - The recent app update and product changes are seen as attempts to adapt to competitive pressures, but they risk alienating existing members who value the brand's traditional standards [17] Group 3: Future Directions and Strategic Focus - To navigate the current backlash and competitive environment, Sam's Club must balance its international brand identity with the need for local adaptation, ensuring that it meets the evolving demands of Chinese consumers [17] - Addressing operational issues, such as complex shipping rules and product selection, will be crucial for restoring member trust and satisfaction [17] - The company must prioritize maintaining its "member first" philosophy while exploring innovative ways to enhance the shopping experience without compromising its core values [17]

Capital Dynamics - Smart electric RV company "Squirrel Power" completed Pre-A round financing led by a well-known industrial investment institution, with existing shareholders continuing to invest [3] - The company, founded in 2022 by former Anker Innovation product line general manager, aims to promote the mass production of its first product and expand into the North American market [3] IPO Dynamics - OpenAI completed a restructuring deal valued at $500 billion, laying the groundwork for an upcoming IPO [7] - During negotiations, OpenAI's valuation surged from $100 billion to $500 billion, with a potential maximum valuation of $1 trillion and fundraising exceeding $60 billion [8] Brand Dynamics - Meituan Flash Purchase announced plans to collaborate with over 10,000 brands to establish "official lightning warehouses," enhancing brand presence in instant retail [15] - PepsiCo unveiled a new global brand identity, including a refreshed logo and color scheme, aimed at emphasizing its commitment to sustainability and innovation [20]

Core Viewpoint - Liuliu Fruit Garden Group Co., Ltd. is eager to enter the capital market, having submitted a new listing application to the Hong Kong Stock Exchange after a previous application expired. The company is under pressure to meet a deadline set by investors for an IPO [1][6]. Financial Performance - Liuliu Fruit Garden has shown steady revenue growth, with revenues of 1.174 billion yuan, 1.322 billion yuan, and 1.616 billion yuan from 2022 to 2024, and a revenue of 959 million yuan in the first half of 2025, representing a year-on-year growth of approximately 25% [3][4]. - Net profits for the same periods were 68.43 million yuan, 99.23 million yuan, and 148 million yuan, with a net profit of 106 million yuan in the first half of 2025, reflecting a year-on-year increase of 75.4% [3][4]. Gross Margin Trends - Despite revenue growth, the company's gross margin has declined from 38.6% in 2022 to 36% in 2024, and further down to 34.6% in the first half of 2025. The gross margins for core products, such as dried plums and western plums, have also decreased significantly [4]. - The gross margin for dried plums fell from 39.6% in 2022 to 32.9% in the first half of 2025, while western plums dropped from 36.7% to 30.7% in the same period. In contrast, the gross margin for plum jelly increased from 36.2% to 40.9% [4]. Sales Channel Shift - The company has shifted its sales channels towards snack specialty stores, with the revenue share from these stores rising from 1.1% to 35.3% between 2022 and the first half of 2025. Conversely, the revenue share from traditional distribution channels decreased from 74.5% to 31.2% [4]. Customer Concentration - The concentration of customers has increased, with the top five customers accounting for 43.7% of revenue in the first half of 2025, up from 12.7% in 2022. This high dependency on a few major clients poses potential risks to the company's revenue stability [5]. Investment Pressure - The urgency for the IPO is linked to a bet agreement with investors, which requires the company to go public or face significant financial penalties. The company has faced challenges in its previous attempts to list, including a withdrawal of its A-share application in 2019 due to revenue decline and short-term profit pressures [6][7]. Financial Strain - The company has experienced cash flow issues due to the substantial buyback payments required under the investment agreement, leading to a decrease in cash and cash equivalents from 78.05 million yuan at the end of 2024 to 42.43 million yuan in the first half of 2025 [8].

Core Viewpoint - Liuliu Guoyuan is under significant pressure to go public due to a countdown related to a betting agreement with investors, which could lead to substantial financial liabilities if the listing does not occur by the end of 2025 [4][8][22]. Product Structure - Liuliu Guoyuan's main business is heavily concentrated on "plum" snacks, with a declining gross margin, indicating a reliance on star marketing and bulk sales channels that pose growth risks [3][12]. - The company has a narrow product range, primarily focusing on three categories: dried plums, western plums, and plum jelly, with other products contributing less than 1% to revenue [10][11]. Financial Performance - From 2022 to 2024, Liuliu Guoyuan's revenue grew from 1.174 billion to 1.616 billion, with a compound annual growth rate of 16%, while net profit increased from 68 million to 148 million [14]. - Despite revenue growth, the gross margin for dried plums has been declining, from 39.6% in 2022 to 32.1% in 2024, with an average selling price dropping from 38.1 yuan/kg to 32.6 yuan/kg [14][15]. Marketing and Cost Structure - The company has high marketing expenses, which accounted for 24.08% of revenue in 2024, while R&D spending remains low at about 1-2% of revenue [16][17]. - Liuliu Guoyuan's marketing strategy heavily relies on celebrity endorsements, which has led to a limited brand perception despite significant advertising expenditures [17][18]. Channel Structure - In 2024, revenue from distribution channels was 659 million, making up 40.8% of total revenue, with major clients being bulk snack chains [18]. - The company faces challenges from a "price wave" in the snack industry, affecting its pricing strategy [18]. Shareholder Structure and Financing - The ownership structure is highly concentrated, with the founder and his wife controlling 87.77% of the shares [18]. - Liuliu Guoyuan has undergone multiple financing rounds since 2015, often accompanied by agreements that require the company to go public [19][20]. Market Reputation and Challenges - The company has faced significant complaints regarding product safety, with over 400 complaints related to issues like mold and foreign objects [28][29]. - Despite efforts to improve production safety, the brand's reputation has been impacted by past incidents, raising concerns about consumer trust as the company approaches its listing deadline [29][30].

Core Viewpoint - Liuliu Fruit Garden is urgently pursuing an IPO due to a countdown on a betting agreement with investors, which requires the company to go public by the end of 2025 or face buyback obligations [1][22]. Group 1: IPO Urgency - Liuliu Fruit Garden submitted a new IPO application to the Hong Kong Stock Exchange on October 28, just 12 days after its previous application lapsed due to inactivity [1]. - The average listing cycle for Hong Kong stocks in 2024 is approximately 393 days, indicating a tight timeline for Liuliu Fruit Garden to complete its IPO before the end of 2025 [1]. Group 2: Historical Context - The company first attempted to go public in 2019 by applying for an A-share listing but withdrew the application six months later, citing unfavorable market conditions [2]. - In the same month of the A-share withdrawal, a significant shareholder, Li Qing, sold his shares for 118.5 million RMB, indicating a lack of confidence in the company's immediate prospects [2]. Group 3: Financial Obligations - Liuliu Fruit Garden has faced significant financial pressure due to a buyback agreement with Beijing Sequoia, which required the company to redeem shares for 135 million RMB by November 2024, along with interest payments [4][5]. - The company has entered into new betting agreements with investors, requiring it to complete a qualified IPO by the end of 2025, or face buyback demands at a 6% annual interest rate [6]. Group 4: Ownership Structure - The founder, Yang Fan, and his wife control 87.77% of the company's shares, with Yang holding 37.97% directly [9][10]. - If the IPO fails, Yang and his wife would bear the primary financial losses, highlighting the personal stakes involved in the company's public offering [9]. Group 5: Market Position and Strategy - Liuliu Fruit Garden has shifted its focus to a new strategic direction, emphasizing the health benefits of its products, particularly the sour plum snacks, which are aimed at becoming mainstream [12][14]. - The company has seen growth in sales through supermarkets and specialty snack stores, with these channels accounting for 25% and 35.3% of sales, respectively, in the first half of the year [20]. Group 6: Financial Performance - The company's total revenue has shown a steady increase, with figures of 1.174 billion RMB in 2022, 1.322 billion RMB in 2023, and projected revenues of 1.616 billion RMB for 2024 [20][21]. - Despite growth, the company has not yet reached its goal of becoming a billion-dollar brand, indicating ongoing challenges in scaling its operations [22].