Investment Rating - The report does not explicitly provide an investment rating for the restaurant industry Core Insights - The report analyzes the new product launch trends in the restaurant industry, focusing on six representative categories: Western fast food, noodles, tea drinks, coffee drinks, bakery, and hot pot. A total of 330 brands were monitored, with 177 brands launching new products in June 2025, accounting for 53.6% of the monitored sample. The total number of new products launched across these categories was 785, representing a 14.1% decrease compared to May 2025 [4][10][15]. Summary by Category Western Fast Food - In June 2025, 20 brands launched 66 new products, with dessert items leading at 24.2%. Innovations focused on filling and flavor, with 51.4% of new products emphasizing filling innovation, integrating local and healthy ingredients [24][17][22]. Noodles - Among 61 monitored brands, 21 launched 65 new products, with mixed noodles and dessert drinks forming a core launch strategy, together accounting for over 40%. The main innovation direction involved using local and wild ingredients as toppings, with 66.7% of innovations focusing on toppings [32][30]. Tea Drinks - A total of 64 brands launched 245 new products, with fruit tea leading the category. The report highlights the use of seasonal fruits and emphasizes the reduction of vegetable elements in new products. 73.1% of new products contained tea bases, with green tea being the most popular [35][36][40]. Coffee Drinks - 23 brands launched 78 new products, with fruit elements comprising 71.2% of the ingredients. Coffee liquid bases were predominant, making up 66% of new products. The report notes a trend towards complex flavor profiles in new coffee products [46][50][53]. Bakery - 33 brands launched 263 new products, with cakes being the most prevalent at 57.8%. The report indicates a focus on seasonal and health-oriented products, with a notable increase in the use of fruits and dairy ingredients [60][63]. Hot Pot - 16 brands launched 68 new products, with hot pot ingredients leading at 54.4%. The emphasis was on the quality of ingredients and traditional preparation methods, showcasing local specialties [66][64].

Core Insights - The report from Hongcan Industry Research Institute highlights the trends in new product launches within the restaurant industry, focusing on six major categories as of June 2025 [1][3]. Group 1: Overall Market Trends - In June 2025, 177 out of 330 monitored brands launched new products, representing 53.6% of the sample [3]. - A total of 785 new products were launched across the six categories, showing a decrease of 14.1% compared to May [5]. - The categories of Western fast food, noodle dishes, tea drinks, coffee drinks, bakery, and hot pot were monitored, with varying trends in new product launches [3][5]. Group 2: Category-Specific Insights Western Fast Food - 20 brands launched 66 new products, with desserts leading at 24.2% of the total, followed by pizza at 21.2% [8][10]. - Innovations focused on ingredient fusion and local flavors, with significant emphasis on filling and flavor innovations [10] [11]. Noodle Dishes - 21 brands introduced 65 new products, with mixed noodles and drinks being the core focus, accounting for over 40% of new launches [11][13]. - Local and wild ingredients were highlighted as key innovation points in toppings [13]. Tea Drinks - 64 brands launched 245 new products, with fruit tea leading the category [16]. - The price range for new tea products was primarily between 15-20 yuan and 10-15 yuan, indicating a focus on affordability [16]. Coffee Drinks - 23 brands introduced 78 new products, with fruit elements dominating at 71.2% of the total [20][23]. - The trend shows an increase in the use of coffee liquid bases combined with other bases [23]. Bakery - 33 brands launched 263 new products, with cakes being the most popular category at 57.8% [25]. - Seasonal and health-oriented products were emphasized, particularly for summer [25]. Hot Pot - 16 brands introduced 68 new products, with hot pot ingredients making up 54.4% of the new launches [26][29]. - Emphasis was placed on the quality of ingredients and traditional preparation methods [27][29].

Group 1 - The overall restaurant industry prosperity index in June 2025 slightly decreased to 104.1, down 0.1% from May's 104.2 [5][3] - The decline in the index was influenced by various factors, including seasonal changes and consumer behavior adjustments [8][4] - The index for third-tier and below cities saw the largest decline at 5.4%, followed by second-tier cities at 4.6%, while first-tier cities experienced a slight increase of 1.2% [12] Group 2 - The "Red Restaurant Index Top 100" for June 2025 saw 36 brands rise in rankings, 33 fall, and 30 remain unchanged, with one new entry [18] - The top three brands in the index were Haidilao, KFC (China), and Luckin Coffee, followed closely by McDonald's (China) and others [20][18] Group 3 - In June 2025, the snack fast food category showed significant growth, with its prosperity index rising to 103.7, an increase of 5.4% [16] - Conversely, the beverage category's index fell to 116.5, down 2.2%, while the index for hot pot and barbecue categories were 93.5 and 81.9, respectively, both showing declines [16] Group 4 - The restaurant industry saw active financing events in June 2025, with a total of 10 financing occurrences, marking a significant increase from the previous month [59] - Notable IPO movements included the submission of a prospectus by Banu International Holdings for a main board listing and the listing of Haitian Flavoring and Food Company on the Hong Kong Stock Exchange [62][58] Group 5 - The restaurant industry is witnessing a trend of local brand expansion and international market penetration, with brands innovating through unique store formats and digital models [55] - Significant industry events included the opening of Haidilao's first fresh-cut beef theme store in Guangzhou and Luckin Coffee's first stores in the U.S. [61][62]