封面图来源：屯河媒体矩阵 在食品行业，国企品牌曾长期被贴上 "稳重型、偏传统" 的标签 —— 虽然产品占据市场主导地位，聚焦大众市场与经典品类，却因 "墨守成规" 与年轻消 费群存在认知隔阂。不过近 3 年，一批国企品牌开始主动 "打破时光滤镜"，以 "全产业链硬实力 + 年轻需求新表达"掀起 "焕新浪潮"： 图片来源：大白兔、华润五丰、茅台×瑞幸媒体矩阵 这些案例共同指向一个趋势：国企品牌正从 "靠规模稳市场"，转向 "以创新触达新人群"。在这股 "国企焕新潮" 中，中粮集团所属番茄业务的中粮屯河番 茄（专注番茄产业的核心品牌），则选择以 "场景创新" 为切口，用 "街舞大赛 + 微醺嘉年华" 的双场景组合，尝试从 "远销 80 多个国家和地区的外贸优 品"，向 "国内年轻场景新焦点" 跨越 —— 这是国企品牌在 "年轻化、体验化" 赛道的又一典型破局样本。 1 双场景创新： "全产业链底气" 下的 C 端突破 依托中粮集团从番茄育种、种植、加工再到销售的全产业链支撑，中粮屯河在中国的黄金种植带（天山雪水灌溉、全年超 3000 小时日照、20℃昼夜温 差）布局了30万亩番茄种植基地，在智慧生产系统和卫星定位 ...

Core Viewpoint - The return of the classic white liquor milk tea "Drunk Step on the Road" by the new tea drink brand Cha Baidao highlights the growing trend of cross-industry collaboration between liquor and tea drink brands, aiming to capture the expanding market of young consumers in the "micro-drunk economy" [1][9][10]. Group 1: Product Launch and Market Response - "Drunk Step on the Road" was first launched in 2020 as a collaboration between Cha Baidao and Luzhou Laojiao, and it has made a comeback after five years, achieving nearly 120,000 cups sold on its first day [1][2]. - The product has generated significant buzz on social media, with consumers expressing surprise at its taste, which combines milk and a subtle hint of white liquor [2][4]. - Sales of "Drunk Step on the Road" have been strong in various locations, particularly in settings like cinemas where consumers seek a light alcoholic beverage [4][5]. Group 2: Industry Trends and Consumer Behavior - The beverage market is increasingly leaning towards younger, lower-alcohol, and healthier options, with young consumers driving the "micro-drunk economy" [1][9]. - Reports indicate that over 60% of white liquor consumption is now attributed to young consumers aged 18-35, with the potential market size for young drinkers reaching 400 billion yuan [10][11]. - The trend of cross-industry collaborations is seen as a way for liquor brands to attract younger consumers, with various brands experimenting with new flavors and marketing strategies [11][12]. Group 3: Future Outlook and Challenges - Industry experts suggest that while the initial sales of "Drunk Step on the Road" are promising, long-term success will depend on the product's ability to encourage repeat purchases [8][15]. - The market for low-alcohol beverages is growing, with a reported market size of approximately 634.1 billion yuan in 2023, indicating a shift in consumer preferences towards lighter options [15]. - Experts caution that the novelty of liquor and tea drink collaborations may wear off, and brands need to focus on product quality and consumer engagement to sustain interest and sales [16].

Core Viewpoint - The collaboration between Luzhou Laojiao and Cha Baidao, named "Drunken Steps to the Road," marks a significant attempt to merge the tea and liquor industries, aiming to attract younger consumers after a five-year hiatus [2]. Group 1: Product Launch and Market Response - The product was relaunched and achieved nearly 120,000 cups sold on the first day, indicating strong consumer interest and engagement [2]. - The reintroduction of this product has been humorously referred to as "Empress Xi's Return to the Palace" by netizens, highlighting its nostalgic appeal [2]. Group 2: Industry Trends and Consumer Behavior - Liquor brands are increasingly seeking to engage with younger demographics through innovative collaborations, as seen with Moutai's partnership with Luckin Coffee to launch a sauce-flavored latte [2]. - The shift in consumer demand is towards experiences and consumption scenarios, rather than just the products themselves, suggesting a need for brands to adapt their marketing strategies [2]. - Industry experts suggest that such cross-industry collaborations may not lead to frequent repurchases, but serve to make liquor brands more approachable and relevant to younger consumers [2].

Group 1 - The core idea of the article is the collaboration between Luzhou Laojiao and Cha Baidao, marking a return of their product "Drunken Steps on the Road" after five years, which combines milk tea and liquor for the first time [1] - The product's re-launch was met with significant consumer interest, achieving nearly 120,000 cups sold on the first day, indicating strong demand among young consumers [1] - The liquor industry is increasingly seeking to engage younger audiences through innovative collaborations, as seen with Moutai's partnership with Luckin Coffee and various promotional events by Luzhou Laojiao [1] Group 2 - Current consumer preferences are shifting towards experiences and consumption scenarios rather than just products, highlighting the importance of emotional engagement in marketing strategies [1] - Industry experts suggest that such cross-industry collaborations may not lead to frequent repurchases, but serve to make liquor brands more approachable and relevant to younger consumers [1] - The trend of periodic collaborations is viewed as a more realistic approach for liquor brands to connect with new generations, rather than relying on constant engagement [1]

Core Viewpoint - Starbucks and Burger King are adapting their strategies in the Chinese market to remain competitive against local brands, focusing on localization and strategic partnerships rather than merely seeking financial investment [3][5][9]. Group 1: Starbucks Strategy - Starbucks is seeking a strategic partner in China, not selling its business, aiming to enhance brand development through local expertise [12][14]. - The company has nearly 8,000 stores in China, its second-largest market, but faces increasing pressure from local competitors [15][16]. - Starbucks needs local insights to navigate the complex Chinese market, including collaboration with local delivery platforms and social media [18][20]. - The potential partners include major investment firms and tech companies, indicating a desire for more than just financial backing [19][20]. - Starbucks aims to retain a significant equity stake, indicating a desire for control while seeking collaboration [21][23]. - The valuation of Starbucks' Chinese business has reportedly increased from $5 billion to nearly $10 billion, reflecting its perceived value despite market competition [24]. Group 2: Burger King Strategy - Burger King's parent company, RBI, has taken full control of its China operations, moving away from a less effective franchise model [27][28]. - The company is also seeking a local partner to enhance its operational capabilities in the Chinese market [30][35]. - A new management team with extensive experience in the Chinese food and beverage sector has been established to drive local operations [31][32]. - Recent changes have led to a turnaround in performance, with same-store sales showing positive growth after several quarters of decline [32][41]. - Burger King is focusing on local product innovations and collaborations with popular culture to attract younger consumers [33][34]. Group 3: Market Dynamics - The Chinese market is rapidly evolving, with consumers demanding better value, novelty, and social engagement from brands [9][38]. - Both Starbucks and Burger King are recognizing the need for local adaptation to survive in a competitive landscape dominated by agile local brands [38][46]. - The future success of these brands will depend on their genuine commitment to localize operations and the effectiveness of their partnerships [47][48].

Core Insights - The coffee industry, which thrived in the Middle East and grew in Europe, is now facing significant competition from China, leading to strategic shifts among international coffee chains [1][3][4] Group 1: Market Dynamics - International coffee giants like Starbucks are planning to sell significant stakes in their Chinese operations, with Starbucks reportedly looking to sell 70% of its stake in China [1] - Coca-Cola is preparing to package and sell its Costa brand, which was acquired for £3.9 billion (approximately ¥34.7 billion) seven years ago, now listed at £2 billion (approximately ¥19.4 billion) [1] - The competitive landscape in China has shifted dramatically, with local brands like Luckin Coffee and Kudi rapidly expanding and capturing market share through innovative business models [3][11] Group 2: Local Brand Expansion - Local brands have successfully redefined coffee consumption in China, moving from a high-end, elite perception to a more accessible daily beverage, with prices as low as ¥9.9 [13][16] - The average annual coffee consumption in China has increased from 6 cups in 2016 to 22 cups in 2024, particularly in lower-tier cities [13][16] - Luckin Coffee and Kudi are now looking to expand their successful models into Southeast Asia and beyond, with Luckin already entering Singapore and planning to open stores in the U.S. [16][18] Group 3: Challenges in International Markets - Despite their domestic success, Chinese coffee brands face challenges in international markets, where established brands like Starbucks still dominate [20][21] - The operational costs and consumer preferences in developed markets differ significantly from China, making it difficult for Chinese brands to replicate their low-cost models abroad [22][24] - Chinese brands are adapting their strategies to local tastes and preferences, such as adjusting sweetness levels for Southeast Asian consumers [24][26] Group 4: Future Outlook - The global coffee market still holds significant potential, with regions like Southeast Asia expected to grow at an annual rate of 8% over the next five years [16] - Chinese coffee brands are leveraging their digital capabilities and cost efficiencies to challenge established players, but they will need time to build brand recognition and consumer loyalty in new markets [28]

Group 1 - The collaboration between Luckin Coffee and "Honkai: Star Rail" has launched, requiring customers to purchase 26 cups for a complete set, costing approximately 400 yuan, which has gained significant attention online [1] - The high-frequency collaborations in the market may not replicate the success of the "Sauce Latte" phenomenon, raising questions about whether quantity or quality will prevail in future partnerships [1] - The market is currently awaiting answers regarding the effectiveness and sustainability of such collaborations [1]

Core Viewpoint - Luckin Coffee has made significant strides in its financial performance and is speculated to be on the verge of a potential relisting on the Nasdaq, despite facing challenges from past financial misconduct and intense market competition [3][19][23]. Financial Performance - In the first half of 2025, Luckin Coffee reported revenues of 212.24 billion yuan and a net profit of 17.89 billion yuan, marking year-on-year growth of 44.57% and 17.89% respectively [3]. - For Q2 2025, the company achieved a net revenue of 123.59 billion yuan, a 47.1% increase year-on-year, and a GAAP operating profit of 17 billion yuan, up 61.8% [6]. - Monthly active customer numbers reached 91.7 million, a 31.6% increase, with total cumulative customers surpassing 380 million [7]. Market Position and Competition - Luckin Coffee operates over 26,200 stores, outpacing competitors like Kudi, Starbucks, and Lucky Coffee combined [10]. - The company faces significant competition from Kudi and Lucky Coffee, which are aggressively expanding their market presence [5][50]. - Despite its current success, Luckin Coffee's pricing strategy remains a challenge, as it struggles to move beyond a 9.9 yuan price point amidst fierce competition [50]. Challenges to Relisting - The path to relisting on Nasdaq involves overcoming hurdles related to restoring market trust and hiring a reputable auditing firm, particularly given its history of financial fraud [4][25][32]. - The company has been exploring the possibility of privatization followed by a listing in Hong Kong as an alternative route to relisting [40][41]. - Luckin's current market valuation stands at approximately 10.339 billion USD, which complicates potential privatization efforts due to high costs and shareholder equity dilution [43]. Strategic Considerations - The involvement of major shareholders like Dazhong Capital adds complexity to the decision-making process regarding relisting and potential exit strategies [46]. - The competitive landscape in the coffee market is dynamic, with new entrants and aggressive pricing strategies from rivals, necessitating continuous adaptation from Luckin [48][58]. - The company is also focusing on international expansion, with 89 stores globally, although this segment is still in the investment phase and not yet profitable [64].

Group 1 - Luckin Coffee has entered the top 500 private enterprises in China with a revenue of 34.475 billion yuan for 2024, marking its first appearance on the list [1] - In the first half of 2025, Luckin's revenue and net profit reached 21.224 billion yuan and 1.789 billion yuan, respectively, with year-on-year growth of 44.57% and 17.89% [1] - The company is experiencing a significant improvement in its fundamentals, and speculation about its potential return to NASDAQ has increased following the appointment of new chairman Li Hui [1][10] Group 2 - In Q2, Luckin achieved a net revenue of 12.359 billion yuan, a year-on-year increase of 47.1%, and a GAAP operating profit of 1.7 billion yuan, up 61.8% [4] - The average monthly transaction customer count rose to 91.7 million, a 31.6% increase, while total transaction customers exceeded 380 million [4] - Coffee revenue reached 9.49 billion yuan, growing 44.9%, and fresh tea drink revenue increased from 6.01 billion yuan to 8.67 billion yuan, a 44.3% rise [4] Group 3 - Luckin has over 26,200 stores, surpassing competitors like Kudi, Starbucks, and Lucky Coffee combined [5] - The company has seen a same-store sales growth rate of 13.4% in Q2, returning to double-digit growth [8] - Luckin's expansion strategy is aggressive, with 2,109 new stores opened in Q2, exceeding the management's initial target of 4,000 for the year [9] Group 4 - The company is facing challenges from competitors like Kudi and Lucky Coffee, which are expanding rapidly and could impact Luckin's performance [2][24] - The competitive landscape is dynamic, with price wars intensifying, particularly with Kudi offering coffee as low as 2.9 yuan [24] - Luckin's pricing strategy remains anchored at 9.9 yuan, which may limit its ability to raise prices amidst competitive pressure [24] Group 5 - The path to re-listing on NASDAQ is complicated by the need to restore market trust following past financial misconduct and the requirement to hire a top-tier auditing firm [13][17] - The company has faced multiple changes in auditing firms since the financial scandal, which poses a significant hurdle for regaining investor confidence [14][16] - There are discussions about the possibility of privatization followed by a listing in Hong Kong as an alternative route to re-enter the capital markets [21][22]

Core Viewpoint - The upcoming "National Day" holiday indicates a trend of younger consumer groups in the tourism sector, which is also reflected in other consumption industries, presenting both challenges and opportunities for brands to adapt to this demographic shift [1][2]. Group 1: Brand Strategies - Brands need to enhance innovation by continuously improving products based on the preferences of young consumers, as seen with Luzhou Laojiao's focus on low-alcohol products and Moutai's collaboration with Luckin Coffee to launch a popular sauce-flavored latte [1]. - Engaging young consumers in product design and promotion can strengthen brand loyalty, exemplified by Taiping Bird's "Guochao Transformation" campaign on Douyin, where netizens voted on designs for production [1]. - Brands should cultivate a youthful, fashionable, and vibrant image, as demonstrated by Li Ning's sub-brand "China Li Ning" debuting at New York Fashion Week, and Tea Yan Yue Se's creative marketing using elements from "Shan Hai Jing" to appeal to younger audiences [1]. Group 2: Marketing and Interaction - Brands must keep pace with industry trends and consumer demand by innovating marketing strategies and enhancing interaction with young consumers, which is essential for expanding domestic demand and promoting economic growth in China [2].