以下文章来源于盐财经 ，作者宝珠 盐财经 . 洞察趋势，睿智人生。《南风窗》旗下专业财经媒体。 中国第一包子股。 文 ｜ 宝珠 编辑 ｜ 江江 来源｜ 盐财经（ID：nfc-yancaijing） 封面来源 ｜ Unsplash 一个1.5元菜包，一个2元肉包，再配上一杯2元豆浆，总计5.5元，对于大多数普通人来说，这就是一顿丰盛的中式早餐。 在国内，早餐，长期被视作一门小生意：客单价低、人力密集，似乎也难以规模化，通常依附于街边的夫妻店。 即便如此，在这条被认为"做不大"的赛道上，出现了一家上市公司——巴比馒头。 有意思的是，刘会平，巴比馒头的创始人，他与全国无数早餐店的老板一样，都来自安徽省。安徽老板这个群体在中国餐饮商业版图上反复出现，深藏功与 名。 根据2025年三季度财报，巴比馒头在2025年前三季度营收13.56亿元，同比增长12.05%，归母净利润为2.01亿元，同比上升3.5%。 | | | | 单位: 元 | 币种:人民币 | | --- | --- | --- | --- | --- | | | | 本报告期比 上年同期增 | | 年初至报告 期末比上年 | | 项目 | 本报告期 | | ...

1月5日，湖城湖东街道邱家漾社区党支部组织志愿者在社区志愿者驿站开展"冬日送温暖"行动，为外卖 员、环卫工人送上热姜茶、茶叶蛋，并致以诚挚的问候。 （来源：湖州日报） 转自：湖州日报 记者 陆一平 摄 ...

Company Overview - Babimantou, a listed company, operates in the breakfast sector, traditionally viewed as a small business with low customer spending and labor-intensive operations [2] - The company primarily sells a variety of buns, including vegetable, meat, and sweet options, along with other breakfast items like tea eggs and soy milk [2] Founder Background - The founder, Liu Huiping, started his career as a painter at the age of 17 before learning to make pastries from relatives [2] - He opened his first store, "Liu Shifu Da Bao," in Shanghai in 2001, and later rebranded to Babimantou in 2003 [2] Financial Performance - For the first three quarters of 2025, Babimantou reported a revenue of 1.356 billion yuan, representing a year-on-year growth of 12.05% [2] - The net profit attributable to the parent company was 201 million yuan, an increase of 3.5% compared to the previous year [2] - The company is actively expanding its presence across the country [2]

Core Points - The Anqing Market Supervision Administration conducted a food safety inspection, collecting 63 samples from various food categories based on consumer preferences, resulting in 61 compliant samples and 2 non-compliant samples [2] Group 1: Non-Compliant Products - Two batches of bananas sold on Meituan were found to contain pesticide residues (thiamethoxam) exceeding national food safety standards, with results of 0.12 mg/kg and 0.15 mg/kg, while the standard limit is ≤0.02 mg/kg [2] Group 2: Compliant Products - A total of 61 samples from various food categories, including restaurant food, snacks, pastries, alcoholic beverages, grain products, frozen foods, and agricultural products, passed the safety inspection [2]

Core Viewpoint - The convenience store industry is facing significant challenges, including increased competition and declining sales in traditional categories, prompting operators to adapt their business models and product offerings to meet changing consumer demands [2][4][5]. Group 1: Store Adjustments - Operators like Yuan Peng have implemented store renovations and product adjustments, introducing hot food equipment and school-related items, resulting in a 30% increase in customer traffic and a 50% rise in gross margin [3][4]. - The adjustments are driven by the need to align product offerings with local consumer preferences, particularly in school areas where demand for specific items is high [3][4]. - Effective supply chain management is crucial for the success of these adjustments, as new product categories can lead to inventory management challenges [3][4]. Group 2: Industry Challenges - The convenience store sector is experiencing pressure from the expansion of snack and discount stores, which offer lower prices and a wider variety of products, negatively impacting convenience store sales [4][5]. - Sales of high-end tobacco and alcohol products have declined, leading to inventory buildup and reduced revenue for convenience stores [4][5]. - Despite a compound annual growth rate of 17.4% in sales over the past nine years, profitability remains a significant issue for the industry, as exemplified by the struggles of foreign brands like 7-Eleven and FamilyMart [6][7][8]. Group 3: Shift to Food Services - In response to revenue pressures, convenience stores are increasingly focusing on fresh food offerings, which have higher profit margins, to offset losses in other product categories [10][11]. - The introduction of dining areas and fresh food stations aims to attract more customers, but this shift poses operational challenges, including space constraints and the need for specialized staff [11][12]. - The success of fresh food offerings in lower-tier markets is uncertain, as local preferences may not align with the products typically offered by foreign brands [12][13]. Group 4: Product Differentiation - Global trends show that convenience stores, such as those in Japan, are diversifying their product ranges to include non-traditional items like clothing and small appliances, moving away from a food-centric model [16][17]. - This diversification strategy aims to enhance store efficiency and sales without opening new locations, but it also increases operational complexity and inventory management challenges [17][18]. - The balance between expanding product categories and maintaining core competencies in convenience and food offerings is critical for long-term success [19].