酒业 水井坊预计上半年销售量增加14.54%，Q2商务宴请和宴席场景承压，致发货恢复节奏放缓 7月14日，水井坊发布2025年半年度业绩预告。披露预计 2025 年半年度公司实现归属净利润为1.05亿 元，与上年同期相比，预计下降 56.52%；预计上半年实现营业收入14.98亿元，预计下降 12.84%；预计 销售量与上年同期相比增加 543 千升，同比增加 14.54%。2025年上半年，白酒行业整体仍处于深度调 整阶段。尤其在第二季度，商务宴请和宴席等传统消费场景持续承压，市场恢复节奏放缓。在上述因素 影响下，公司上半年营业收入预计同比下降 12.84%。由于白酒产品毛利率较高，收入下滑对利润造成 的影响更为显著，预计归属于母公司股东的净利润同比下降56.52%。春节期间总体消费表现低于预 期，导致渠道库存水平高于预期，进而对春节过后几个月的发货量造成一些影响。疲软趋势在第二季度 进一步加剧，宴席和商务宴请等关键场景需求不振，进一步影响了去库存进程，放缓了发货恢复的节 奏。 食品饮料 百事Q2净销售收入227.26亿美元，桂格切入咸味轻食新赛道 7月17日，百事公司公布2025年第二季度业绩，期内净销售 ...

7月17日，百事公司公布2025年第二季度业绩，期内净销售收入为227.26亿美元（折合人民币约1648.87亿元），营业 利润为17.89亿美元（折合人民币约129.8亿元），有机销售增长2.1%。据披露，百事公司中国的食品和饮料业务市场 份额均保持稳定增长。 "我们的净销售收入增长较上一季度加快，这令我们备受鼓舞，我们的业务有效地应对了充满挑战的环境。我们的国 际业务保持了其发展势头，而北美业务在关键细分品类和渠道的执行力和竞争力也得到提升。"百事公司董事长兼 CEO龙嘉德表示。 今年Q2，百事公司还与山姆联合开发了全新桂格高纤燕麦粥番茄罗勒口味，进军咸味轻食新赛道。该产品于7月在山 姆首发上市。 另据了解，百事公司最新投建的陕西西安食品工厂项目正在如期推进，预计将于2025年第三季度竣工投产。这是百事 公司西北地区首家食品生产基地，于去年6月动工，满足西北七省市场日益增长的消费需求。 （企业公告） 展望未来，龙嘉德提到，百事公司将继续推动国际业务的成功扩张和增长，并加快实施提升北美市场业绩的举 措。"因此，对于2025财年，我们仍然有信心实现低个位数的有机收入增长，核心固定汇率每股收益与上年基本持 平。 ...

Core Insights - The article provides a comprehensive overview of the latest trends and new product launches in the baking industry, highlighting innovative flavors and unique offerings from various brands [1][2]. Product Launches - A variety of new products have been introduced, including: - **Layered Cakes**: Matcha and double berry flavor, and grapefruit flavor from HPC Bakery [3]. - **Specialty Breads**: Low-temperature, low-sugar rice fermented toast from Hema [14], and rose cranberry toast from Aida [16]. - **Seasonal Cakes**: Summer limited cakes featuring pineapple and mango from Rosenina [26]. - **Unique Pastries**: Ice cream croissant rolls from KenGee [34] and cheese milk horns from Lai'ao [45]. Collaborations and Promotions - Notable collaborations include: - **Luckin Coffee**: Launching a series of products in partnership with "Chang'an's Lychee," featuring lychee-infused drinks [119]. - **Heytea**: Introducing seasonal flavors with a focus on local ingredients [120]. - **Ningji**: Collaborating with "Junji Ito's Selected Works" to launch summer drinks [121]. Market Expansion - Companies are expanding their market presence: - **DQ**: Plans to open 800 new stores over the next three years, including various types of outlets [127]. - **Luckin Coffee**: Testing operations in the U.S. with a menu featuring 44 items priced between approximately 24.74 to 57 yuan [125]. - **Guming**: Achieved nationwide coverage with over 7,600 stores offering freshly brewed coffee [128]. Industry Trends - The baking industry is seeing a rise in health-conscious products, such as: - **Natural Ingredients**: Use of natural yeast and low-sugar options in bagels from Duck Shop [66]. - **Innovative Flavors**: Unique combinations like rose and lychee in bread from Haohao [91] and fruit-infused pastries from various brands [5][6]. Consumer Preferences - There is a growing demand for refreshing and light summer treats, as seen in the introduction of fruit-based cakes and pastries that cater to seasonal tastes [20][26][49].

Overall Situation - The Xian Ning Market Supervision Administration conducted a special food safety inspection, sampling 170 batches of food across 21 categories, with 169 passing and 1 failing [3][4]. - The categories included grain products, edible oils, seasonings, meat products, dairy products, beverages, convenience foods, and more [3]. Non-compliant Products - The only non-compliant product was produced by Chibi Mingxing Food Co., Ltd., specifically a milk cake that exceeded the allowed limit of sorbic acid and its potassium salt, with a measured content of 1.15 g/kg against a standard of ≤1.0 g/kg [4][5]. - The local authorities have mandated the immediate recall and investigation of the non-compliant product, including the identification of the batch, quantity, and reasons for the non-compliance [4][5]. Compliance Actions - The Xian Ning Market Supervision Administration has instructed local market supervision departments to enforce compliance measures, including the sealing and removal of the non-compliant product from shelves [4][5]. - Further investigations will be conducted to determine the production and operational practices of the involved company [4].

同期，乐事美食研究所宣布贾乃亮成为乐事米饼系列代言人。作为知名演员和全能明星爸爸，贾乃亮严 苛的选品标准，正是乐事裸米饼好品质的有力背书。二者的联手将持续引领米类零食的潮流风向。 干净美味，真材实料带来自然奶香醇 乐事牛乳裸米饼美味的奥秘，始于乐事美食研究所精选的东北大米基底。东北大米自带清甜，在烘焙工 艺的巧妙激发下，释放出自然回甘。而甄选新西兰进口乳粉的加入，更是与米香实现了醇美交融。两者 的完美结合，不仅带来了酥脆轻盈的口感，更呈现出清甜不腻且奶香醇厚的独特风味。 乐事裸米饼以干净配方、品质原料和出众口感，成功实现了干净、安心和美味的三重享受。 另外，乐事裸米饼系列采用小巧便携的独立包装，满足消费者日益碎片化、多元化的食用场景。无论是 上学上班间隙的充饥，还是运动后的加餐，乐事裸米饼都能满足消费者多样化的场景需求。值得一提的 是，新品在包装上增添了小奶牛的卡通形象设计，不仅让视觉呈现更为生动，其可爱有趣的形象也更吸 引全家人的喜爱。 乐事美食研究所米饼系列再续味觉新作！此次新品在坚持裸米饼干净配方的基础上，甄选品质牛乳原 料，以本味清甜米香碰撞醇厚奶香，为米类零食带来更丰富的风味表达。这是乐事美食研究所 ...

Group 1 - The drama "The Lychee of Chang'an" has attracted over 30 brands for advertising, including major names like Tmall, Budweiser, and Longan Auto [1][2] - Various products have been launched in collaboration with the drama, such as the "Guifei-style" lychee from Baiguoyuan and several co-branded items from Luckin Coffee [1] - The enthusiasm for "The Lychee of Chang'an" is evident in the oversaturation of advertising from infant formula brands and dairy products [1] Group 2 - As of June 17, "The Lychee of Chang'an" ranked second in the drama ratings, behind "Lingjiang Xian" [4][5] - Tencent Video has played a crucial role in the success of "The Lychee of Chang'an," leveraging its ecosystem to create a mature business model that integrates the entire industry chain [6] Group 3 - The average price of pork in China's wholesale markets remained stable at 20.24 yuan per kilogram as of June 18 [14] - During the "618" shopping festival, the price of Feitian Moutai dropped below 2000 yuan, with the lowest price recorded at 1840 yuan on Pinduoduo [15]

Core Viewpoint - The article emphasizes the evolving consumer preferences in China towards healthier and more transparent snack options, driven by the "Healthy China 2030" strategy, highlighting the importance of ingredient selection and nutritional awareness in snack consumption [1][2]. Group 1: Consumer Trends - Chinese consumers are increasingly seeking snacks that not only taste good but also align with their health-conscious lifestyles, reflecting a desire for "happiness on the plate" [1]. - The notion that snacks are not inherently bad is supported by experts, who advocate for selective and moderate consumption of snacks made from simple, high-quality ingredients [1][2]. Group 2: Nutritional Awareness - The article discusses the significance of reading ingredient lists and nutritional information, particularly the Nutrient Reference Value (NRV%), which indicates the percentage of daily nutrient needs met by a serving [2]. - Consumers are encouraged to focus on the first few ingredients in the list to assess the quality of the snack, particularly regarding sugar content [1][2]. Group 3: Product Examples - The article highlights the example of Lay's Fresh Baked Naked Rice Cake, which features a clean ingredient list with no added sugars or artificial additives, showcasing a commitment to quality and consumer preferences [3][5]. - The nutritional profile of the Lay's product is favorable, with zero trans fats and a low calorie count, making it suitable for health-conscious consumers [5][6]. - The introduction of new flavors, such as the Milk Naked Rice Cake, reflects the brand's innovation in meeting the demands of families and enhancing the overall snack experience [6].

Core Viewpoint - The aggressive diversification strategy of the company, which has launched multiple new brands across various sectors, aims to build a comprehensive consumer brand amidst declining growth in the snack industry [1][2]. Group 1: Financial Performance - In 2024, the company's revenue rebounded to 10.622 billion yuan, reflecting a year-on-year growth of 49.3% [2]. - Online channels contributed 7.407 billion yuan in revenue, accounting for 69.7% of total revenue, with Douyin emerging as the largest growth driver, generating 2.188 billion yuan, a staggering increase of 81.73% year-on-year [2]. - Offline distribution revenue grew by 80% to 2.641 billion yuan, representing 24.9% of total revenue, aided by the launch of the "Yifenli Convenience Store" model [2]. Group 2: Strategic Initiatives - The company is pursuing a "full-category consumer brand" strategy to create a growth moat in response to the slowing snack industry [2]. - The sub-brand "Xiaolu Lanlan" generated 794 million yuan in revenue, accounting for 7.5% of total revenue, with a year-on-year growth of 35.01% [2]. Group 3: Challenges and Risks - The company faces structural issues, including a high reliance on online sales (nearly 70%) and uneven development among sub-brands, with only "Xiaolu Lanlan" achieving scale [3][4]. - The OEM procurement amount reached 4.482 billion yuan in 2024, with over 50% of major procurement being outsourced, leading to increased quality control pressures [5]. - The company must navigate a competitive landscape in new sectors, such as sanitary products, where established players hold 70% market share, and in coffee, where it faces price competition from major brands [6]. Group 4: Conclusion - The company's aggressive diversification represents a proactive evolution during industry transformation, validating the feasibility of the "full-category consumer brand" strategy despite challenges in sub-brand incubation and quality control risks [7].

日本的京都以料理而闻名，这里也是日本面包消费量最高的地方。京都曾作为日本的首都达一千多年，所以这里从不缺匠心故事，也不缺钻研工 匠，是日本餐饮文化的风暴中心。能在这里登上TOP榜的面包店，一定很有两把刷子——比如日本面包店的传奇，被称为面包圣地的 【玉木亭】。 甚至有从附近大学毕业的学生离开校园后，会特意定期回来购买几箱面包带走冷藏....真·面包脑袋了... 主理人玉木润（Jun Tamaki）曾在面包店Tamaki、日本面包技术研究所、京都世纪酒店和Donq进行培训。 京都市内有很多受欢迎的面包店，但玉木亭在日本当地美食网站的"京都面包店"排名中占据绝对冠军位置。 【玉木亭】位于宇治市一个名叫黄檗的小城镇。附近除了有一所大学外，还有一个普通的住宅区，以及每天远远超过这个社区居民数量的客流量， 即使是工作日，也永远都排着长队。 进门就会迎接到来自面包的暴击，长长的拱形展架上摆满了各种各样的面包，店内SKU总数量大概在90-100种，从甜面包到欧包应有尽有。但是选 择困难症在这里没有困难，因为"所有的种类都不会踩雷"，店内所有的品类都是热销款。 1996年，他代表日本参加了"面包世界杯"（Coupe du M ...

Core Points - The successful landing of the Shenzhou 19 manned spacecraft marks a significant achievement in China's space exploration, with astronauts spending 183 days in space and completing various missions [1] - The variety of food available to astronauts has increased significantly, with options including traditional dishes and innovative food production methods [3][5] Group 1: Food Variety and Innovations - Astronauts now have access to a diverse range of foods, including stir-fried rice, dumplings, and even ice cream, showcasing advancements in space food technology [1][3] - NASA's "Deep Space Food Challenge" has led to innovative food solutions, such as using carbon dioxide exhaled by astronauts to produce alcohol and developing systems to grow vegetables and insects in space [3][5] Group 2: Food Restrictions in Space - Certain foods, like Brussels sprouts, are prohibited in space due to their potential to cause gas, which poses a risk in the confined environment of a spacecraft [5][7] - Foods that can create crumbs or liquid, such as bread and juicy fruits, are also restricted to prevent contamination and hazards in microgravity [10][11] Group 3: Taste Preferences in Microgravity - The microgravity environment affects astronauts' taste and smell, leading to a preference for stronger flavors, such as spicy sauces [11][14] - The use of liquid seasonings instead of solid ones is common to avoid issues with floating particles in the spacecraft [10][12]