全球正处于第五次工业革命浪潮之巅，AI驱动的新质生产力，不仅颠覆了传统的生产范式与增长逻辑，更在深刻地重塑价值标准，打破既有产业边界。 中国凭借超大市场纵深、完备产业体系与升级消费需求，已然成为驱动全球经济复苏与创新的核心引擎之一。 中央经济工作会与"十五五"规划明确将消费定位为"核心引擎与战略支点"。新时代"大消费"已超越传统供给，深度耦合技术、产业与社会变迁，渠道深刻 变革，正推动中国消费从"追随全球"向"定义全球"跨越。 时代转型期，企业家精神面临三重考验：周期震荡的战略迷雾、转型路径的探索压力、高质量发展与社会责任的平衡挑战。唯有以长期主义穿透波动，以 战略定力锚定方向，兼顾"企业成长"与"人文关怀"，方能凝聚团队共识，为基业长青注入精神动能。 值此百年变局，中国企业与全球巨头同迎重塑机遇。我们需以"破局"勇气穿越周期，以"AI赋能"为刃，以"逐浪出海"为志，方能在变革中"立潮头"，成为 时代引领者。 该评选不仅是对阶段性成就的记录，更是一种面向未来的判断与回应。通过这一平台，福布斯中国期待持续连接资本、产业与社会，推动经验沉淀、价值 对话与生态共建，让中国消费力量在更广阔的世界舞台与更长远的时间维度 ...

Investment Rating - The report indicates a gradual recovery in the food and beverage sector, suggesting a positive outlook for investment opportunities in the industry [6]. Core Insights - The beverage market is experiencing a surge in demand for health-oriented products, particularly turmeric drinks and low-GI foods, driven by younger consumers' health consciousness [2][10]. - The approval of elderberry anthocyanins as a new food ingredient is expected to unlock a significant market potential, with a projected global market size of $960 million by 2027 [4]. - The report highlights the ongoing price wars in the beverage industry, with major brands signaling a trend towards price reductions, which may impact profit margins across the supply chain [9]. Industry Trends - The popularity of turmeric drinks among young consumers is attributed to their perceived health benefits, despite concerns over taste and sugar content [2]. - The rise of the health economy is evident, with a significant increase in sales of health-related products, such as herbal teas and functional foods, particularly among millennials and Gen Z [2]. - The elderberry anthocyanins market is anticipated to grow rapidly, with opportunities for product innovation in immune support and gut health [4]. - The low-GI food market is projected to reach ¥176.2 billion by 2024, driven by increasing health awareness and the prevalence of diabetes among younger populations [10]. - The beverage industry is facing a structural shift, with a focus on "precision" beverages that cater to specific consumer needs and preferences [14]. Brand Dynamics - Kunlun Mountain Mineral Water has entered a strategic partnership to expand its market presence in Hong Kong, leveraging local resources and distribution channels [16]. - Jiahe Foods is transitioning from a contract manufacturer to a consumer brand, facing challenges in profitability due to rising raw material costs and increased marketing expenses [19]. - Vitasoy International reported a decline in revenue, particularly in the mainland market, as competition in the plant-based milk sector intensifies [20]. - Tian Shili's "medical-grade" sugar-free tea has achieved a high repurchase rate by targeting pre-diabetic consumers, showcasing the potential for functional beverages in the health market [21]. - The new brand "Bie Xiang Bao Bao" has gained traction in the sugar-free tea market, achieving significant sales growth through innovative product offerings [22].

（来源：内蒙古日报） 肉羊产业奏响牧区振兴新牧歌。四子王旗是乌兰察布市最大的农牧结合旗，该行向内蒙古赛诺种羊科技 公司投放4000万元农业科技贷款，支持企业构建"良种繁育—科学养殖—精深加工—品牌营销"全产业链 体系，通过"引推一体化、种养加销一条龙"发展路径，实现了生态保护与产业发展的良性互动，带动当 地牧民增收致富，为北方牧区探索出了一条生态友好型畜牧业发展新路径。 帮扶成果筑牢共同富裕新根基。乌兰察布曾是典型的深度贫困地区，深度贫困县占全区53%，深度贫困 嘎查村占全区45%。该行紧盯脱贫人口、易地搬迁群众、防返贫监测户等重点群体，投放精准帮扶贷款 28亿元、易地扶贫后续扶持贷款2亿元，不断提高精准帮扶带动成效，辖内脱贫县、重点帮扶县贷款增 速高于全行贷款增速。并向脱贫地区捐赠98万元物资，助力更多脱贫群众共享发展成果。 从阴山麦田到生态牧场，从酸奶工厂到智慧羊圈，农发行人的初心化作润泽沃野的金融活水，在乌兰察 布广袤的土地上，持续书写着"支农报国、富民兴边"新时代答卷。（周盖群） 一粒燕麦，绘就乡村振兴新画卷。随着健康饮食理念普及，燕麦片、燕麦奶等产品消费需求持续攀升。 市场快速增长的过程中，燕麦种植 ...

11月27-28日，被誉为"年度科技与商业风向标"的36氪WISE2025商业之王大会，在北京798艺术区传导空间落地。 今年的WISE不再是一场传统意义上的行业峰会，而是一次以"科技爽文短剧"为载体的沉浸式体验。从AI重塑硬件边界，到具身智能叩响真实世界的大门； 从出海浪潮中的品牌全球化，到传统行业装上"赛博义肢"——我们呈现的不仅是趋势，更是捕捉在无数次商业实践中磨炼出的真知。 我们将在接下来的内容中，逐帧拆解这些"爽剧"背后的真实逻辑，一起领略2025年商业的"风景独好"。 破局东方 我比较喜欢今天我们在谈的这个话题叫"风景这边独好"。大家知道今年外资企业面临挑战。很多人也好奇在这样一个形势下，OATLY会怎么样？我觉得我 们今年下半年的业绩确实还是向市场证明了我们的实力。 冯大刚：你们是长了差不多30%，比全球水平大概要高两倍。 张春：中国今年三季度跟去年同比实现了28.8%的增长，8月份我们有40%左右的增长，三季度不仅扛住了，而且还往上走了不少，四季度也不错，现在也在 稳步推进中。 最大的心得体会是，一方面，原来的战略和考虑是对的；第二，这份坚持是对的；第三，团队经过七年的打拼，摸索出了一套做植物 ...

Group 1 - Qianwei Central Kitchen announced a shareholder gift plan, offering frozen product gift packages worth 200 yuan to shareholders holding 100 shares or more, clarifying that this is a seasonal reward and not a stock clearance effort [3][4] - Former Wahaha Group executive Pan Jiajie has joined Guming as Senior Vice President of Supply Chain, focusing on new business incubation, which is expected to enhance the company's supply chain and production management [3][4] - Country Garden Services has formed a strategic partnership with Mengniu Group to collaborate on various dairy products, aiming to reduce delivery costs and improve service efficiency in community logistics [6][7] Group 2 - Lu Hua Group signed a strategic cooperation agreement with NetEase Yanxuan to leverage each other's strengths in channel capabilities and product quality to expand online market reach [6][7] - Zilin Vinegar's main products have received EU organic certification, allowing them to use the EU organic logo and access the EU market [6] - COFCO Technology plans to invest 880 million yuan to build a new starch sugar project in Pingliang, with a capacity of 250,000 tons per year, aiming to fill a gap in the northwest region [6][7] Group 3 - Gai Shi Food launched a new black gold gift box featuring rare seafood, inspired by "Seven Swords Descend from the Sky," targeting various gifting scenarios [7] - Jiangzhong Shiliao introduced a new series of vegetarian noodles, emphasizing high protein and low fat, suitable for health-conscious consumers [7] - The market has seen a rise in discussions around "hormone eggs," with misinformation spreading about their characteristics, highlighting the public's concern for food safety [10][11] Group 4 - Chilean cherry exporters have officially launched the 2025/26 cherry season in China, with over 546,000 tons imported in the previous season, amounting to approximately 3.3 billion USD [12] - Beijing's government has proposed to enhance the modern logistics system, focusing on food safety in key sectors and promoting cold chain logistics for fresh food [12]

Core Insights - A new trend in the A-share market is emerging where companies are offering "physical dividends" to shareholders, enhancing the shareholder experience beyond traditional cash dividends and stock price appreciation [3][4][10] Group 1: New Trends in Investor Relations - The A-share market is witnessing a transformation in investor relations management, shifting from cash dividends to product-based rewards for shareholders [3] - Companies like Emei Mountain A and Qianwei Yangchun are leading this trend, with Emei Mountain A offering free admission to shareholders holding over 500 shares, and Qianwei Yangchun providing product gift packages worth 200 yuan to shareholders holding over 100 shares [3][4] Group 2: Strategic Considerations Behind Physical Dividends - The trend of physical rewards is not merely about providing benefits; it represents an upgrade in investor relations management to brand experience marketing, creating a low-cost yet innovative approach [4][5] - For tourism companies, offering free admission and discounts can lead to significant secondary consumption, enhancing overall revenue [4][10] Group 3: Industry-Specific Approaches to Shareholder Engagement - Different industries are adopting unique strategies to engage shareholders: - In the tourism sector, Emei Mountain A offers comprehensive benefits including free tickets and discounts on various services [7][10] - In the food industry, Qianwei Yangchun provides product gift packages, while other companies like Wufangzhai and Zhongjing Foods also offer food gifts without strict holding requirements [7][8] Group 4: Case Study of Qianwei Yangchun - Qianwei Yangchun's shareholder reward strategy aligns with its broader market expansion goals, allowing shareholders to experience products directly and potentially become loyal customers [8][9] - The company is strategically timing its rewards to coincide with its efforts to penetrate the consumer market [8] Group 5: Emei Mountain A's Unique Offerings - Emei Mountain A's rewards program is designed to counteract a 7.9% decline in visitor numbers, showcasing an innovative approach to attract more visitors [10] - The program includes not just free admission but also discounts for family members, creating a holistic consumer experience [10] Group 6: Balancing Aspirations and Realities - While the trend of physical dividends is gaining traction, companies must ensure product quality and sustainability of these initiatives to avoid damaging their reputation [13][15] - Market reactions to these initiatives can lead to short-term stock price increases, but without solid performance fundamentals, there may be risks of price corrections [15]

聚焦规划，助力嘉兴产业升级 对市委"十五五"规划，张凯建议：一是将植物基产业纳入重点培育目录，打造特色产业地标；二是深 化"放管服"改革，优化创新生态，激活企业内生动力；三是抢抓开放机遇，推动与"一带一路"沿线合 作，释放产业协同效应。 张凯表示，菲诺的成长离不开嘉兴培育，未来将持续弘扬企业家精神，深耕特色产业、坚持创新引领， 当好植物基产业领跑者与嘉兴特色产业代言人，为嘉兴打造长三角重要中心城市贡献民营企业家力量。 此次座谈会上，政企同心共话发展的热烈氛围让参会企业家备受鼓舞。作为嘉兴特色产业的代表性企 业，菲诺将以此次会议为契机，持续深化全产业链布局，以创新驱动品牌升级，在实现自身"全球绽 放"的同时，为嘉兴民营经济高质量发展注入更强动能。 12月3日，嘉兴市企业家座谈会召开，市委书记陈伟主持会议，政企齐聚共商"十五五"发展大计。菲诺 集团总裁张凯作为桐乡特色产业代表受邀参会，立足植物基产业实践作交流发言，为嘉兴经济高质量发 展献智献策。 逆势领跑，菲诺锚定全球发展 张凯指出，当前植物基产业迎来高速增长机遇，但面临技术突破不足、同质化等挑战，"特色化、全链 化"是破局关键。诞生于桐乡的菲诺，2025年实现 ...

Core Viewpoint - The trend of A-share companies offering unique shareholder rewards is gaining popularity, with companies like Emei Mountain A and Qianwei Yangchu engaging in promotional activities to attract investor attention and boost stock prices [1][2][3] Group 1: Company Activities - Emei Mountain A announced a shareholder reward program allowing individual shareholders holding over 500 shares to enjoy free admission to its scenic area from December 1, 2025, to January 31, 2026, along with discounts for accompanying family members [2] - Qianwei Yangchu quickly followed suit by offering a product gift package worth 200 yuan to shareholders holding at least 100 shares, which led to a temporary increase in its stock price [1] - Over 30 listed companies have engaged in similar shareholder reward activities since 2025, including gifting products and offering discounts, indicating a broader trend in the market [3] Group 2: Market Implications - These shareholder reward initiatives serve as innovative and low-cost investor relations strategies that can enhance shareholder loyalty and public goodwill, although their long-term impact on investment value depends on the company's core business growth and profitability [4] - Such activities can create short-term trading opportunities and significantly boost stock prices, but they often lack sustained fundamental support, leading to potential price corrections after the initial excitement [4] - The emotional impact on investors can lead to speculative behavior, diverting attention from the company's fundamental value and increasing market volatility [4]

Core Viewpoint - Vitasoy International's performance in the mainland China market has been adversely affected by a previous public relations crisis, leading to a decline in revenue and market competitiveness. Group 1: Financial Performance - For the six months ending September 30, Vitasoy International reported a revenue of HKD 3.227 billion, a year-on-year decrease of 6% [2] - Operating profit was HKD 247 million, down 4% year-on-year, while profit attributable to shareholders slightly increased by 1% to HKD 172 million, largely due to cost-cutting measures that reduced total operating expenses by 7% [2] - Revenue from the mainland market was HKD 1.778 billion, a decline of 9% year-on-year, with a slight decrease in gross margin to 51.1% due to lower product prices and increased promotional spending [3] Group 2: Market Challenges - The decline in Vitasoy's mainland revenue is attributed to a long-standing impact from a public relations crisis in July 2021, which led to significant brand damage and a 22.77% drop in revenue for the 2022 fiscal year [3] - The company has faced ongoing revenue declines in the mainland market, with a slight recovery only expected in the 2025 fiscal year [3] - Vitasoy's product and channel strategies are losing competitiveness in a fiercely competitive mainland market, with traditional retail channels slowing down and consumers shifting towards e-commerce and chain snack stores [4] Group 3: Competitive Landscape - The plant-based milk sector is still growing, but the market growth rate has slowed, with increased competition from both new and established brands [5] - In the tea beverage segment, competition has intensified, particularly with the rise of new brands and the proliferation of chain tea shops, which have impacted Vitasoy's lemon tea sales and market share [5] Group 4: Management and Future Outlook - Since the public relations crisis in July 2021, Vitasoy's leadership has seen two changes, with the founder's second-generation leader, Lo Yau Lee, being 84 years old and not yet retired [6] - Despite short-term challenges in the mainland market, the executive chairman expressed confidence in the long-term growth potential and plans to optimize channels and innovate products, focusing on low-sugar and no-sugar options [6]

Core Viewpoint - Vitasoy International's performance in the mainland China market has been significantly impacted by a previous public relations crisis, leading to a decline in revenue and market competitiveness. Group 1: Financial Performance - For the six months ending September 30, Vitasoy International reported a revenue of HKD 3.227 billion, a year-on-year decrease of 6% [1] - Operating profit was HKD 247 million, down 4% year-on-year, while net profit attributable to shareholders slightly increased by 1% to HKD 172 million, largely due to cost-cutting measures that reduced total operating expenses by 7% [1] - Revenue from the mainland China market was HKD 1.778 billion, a decline of 9% year-on-year, with a slight decrease in gross margin to 51.1% due to lower product prices and increased promotional spending [1] Group 2: Market Challenges - The decline in Vitasoy's mainland market performance is attributed to a long-standing issue stemming from a public relations crisis in July 2021, which led to a significant drop in revenue and a shift from profit to loss in the 2022 fiscal year [3] - The company has faced ongoing revenue declines in the mainland market for two years, with only a slight recovery projected for the 2025 fiscal year [3] - Vitasoy's product and channel strategies are losing competitiveness in a rapidly evolving market, with traditional retail channels slowing down and consumers shifting towards e-commerce and chain snack stores [3] Group 3: Competitive Landscape - The plant-based milk sector is experiencing growth, but the market's growth rate is slowing, with increased competition from both new and established brands [6] - The tea beverage segment is highly competitive, with a surge in demand for sugar-free tea leading to new brands gaining market share, impacting Vitasoy's lemon tea sales [6] Group 4: Management Perspective - Since the public relations crisis, Vitasoy has seen two changes in leadership for its mainland operations, with the founder's second-generation leader, Lo Yau Lee, still at the helm at the age of 84 [7] - The executive chairman expressed confidence in the long-term potential for growth in the mainland market, emphasizing plans to optimize channels and innovate products, focusing on low-sugar and sugar-free options [7]