哈喽，大家好，今天小睿这篇行业观察，就来拆解网红烘焙一年关店8.7万背后的真相：流量神话破灭 后，烘焙行业的淘汰赛已进入白热化。 2025年末，85°C济南最后一家门店悄然闭店的消息，为网红烘焙行业的寒冬再添一抹凉意。 两个月前，这个曾需要排队半小时才能买到面包的"网红鼻祖"，刚刚关闭了北京的最后一家门店，据光 明网报道，其今年在大陆的关店数量已超40家，创下近五年新高。 不止85°C，拿过千万美元融资的杭州品牌欢牛、社交媒体上风头正劲的广莲申、新店仅存活9个月的祐 禾等新旧网红品牌，均难逃关店厄运。 美团数据显示，截至2024年12月15日，过去一年国内面包烘焙店关停数量达87658家，日均关店240家， 行业平均寿命仅32个月，57%的门店撑不过两年。 消费者的热情进一步点燃了市场，在社交货币的驱动下，"排队一小时、拍照五分钟"成为常态，发朋友 圈分享网红面包的仪式感，甚至超过了面包本身的食用价值。 这种消费心态让品牌的溢价策略屡屡得手，头部品牌招股书显示，当时行业毛利率普遍高达60%以上， 部分品牌客单价达65元，毛利率更是飙升至68%。 高额利润吸引资本蜂拥而入，2022年烘焙赛道融资达22起，网红烘 ...

Group 1 - The core point of the article highlights the contrasting trends in the baking industry, with rising prices due to increased raw material costs, while popular brands like 85°C are closing multiple stores due to brand aging and intensified market competition [2] - 85°C has closed its last store in Beijing and is reducing operations in cities like Hangzhou, Shanghai, and Nanjing [2] - The demand for advanced packaging solutions in the semiconductor industry is increasing, leading companies like 美满电子 and 联发科 to consider Intel's EMIB technology for ASIC chip designs [2] Group 2 - 华夏幸福 is undergoing financial due diligence by a debt committee, with the company unable to define its obligations to cooperate [3] - 优必选 has secured a 2.64 billion yuan order for humanoid robots, expected to be delivered in December [4][6] - The holiday season in the U.S. is anticipated to maintain stable consumer spending despite higher prices due to new tariffs, with retailers like Walmart and Target showing positive early signals for sales [5] Group 3 - 高盛 has set a target price of 53.5 HKD for 小米集团-W, anticipating more AI-related achievements that will enhance its ecosystem [6] - 美团's subsidiary, 昆明团骑信息科技, has increased its registered capital by 75% to 70 million USD, indicating growth in its software and technology services [7] - 蚂蚁集团 and 紫金矿业 have invested in the fusion technology research company 星能玄光, which focuses on innovative energy solutions [8] Group 4 - 茅台 has denied rumors about plans to establish 850 direct stores nationwide, clarifying that such information is false and damaging to its brand image [9] - 阿里巴巴's AI assistant app, 千问, has achieved over 10 million downloads in its first week of public testing, making it the fastest-growing AI application [10] - The movie "Zootopia 2" has set a record for pre-sale box office for imported animated films in China, surpassing 1.82 billion yuan [11] - Apple is streamlining some positions in its sales department to enhance customer engagement, while still continuing to hire [12]