Core Insights - Hema's self-owned brand strategy is a key competitive advantage, with plans to incubate 100 new brands in 2021 to enhance product differentiation and support multi-channel operations [1][2] Group 1: Brand Incubation Strategy - Hema has launched the "Hema X Accelerator" to facilitate the incubation of new brands by integrating resources for investment, product development, supply chain support, and marketing [1][2] - The focus for 2021 includes collaboration with KA brands, internet celebrity brands, catering brands, and time-honored brands to quickly develop unique products for young consumers [1][2] Group 2: Product Quality and Market Positioning - All new products will undergo a "trial period" to ensure quality through a strict selection process, aiming to meet consumer needs [2] - The establishment of the Hema X Accelerator is intended to enhance Hema's own brand capabilities and create a competitive edge over traditional retail and other membership stores [2] Group 3: Market Competition and Differentiation - The core of Hema X membership stores will be its self-owned products, which are expected to account for approximately 50% of the offerings [2] - The creation of a brand incubation platform is seen as essential for maintaining product differentiation in a highly competitive market, reducing the likelihood of price wars [2][3]