（来源：南湖晚报） 转自：南湖晚报 七星文化的"味道" N晚报记者 徐杨蕾 通 讯 员 段素芳 王佳萱 "我要两个油墩，一个团子。"昨天早上，家住湘家荡区域（七星街道）湘南社区的小赵像往常一样，走 进"妈妈的味道——赵红小吃店"买早餐。这家小店主打鸡蛋糕、梅花糕、油酥饺等江南传统糕点，咸甜 兼备，很多制作工具都是从上一辈传承下来的。 "今天是立夏，别忘了吃麦芽塌饼。""清明时节，该吃青团了。"……周月红的朋友圈也总跟着时令走。 她说："像团子、尺糕等，都是我们这儿风俗里少不了的东西，家家户户都要用。搬家、孩子结婚、宝 宝满月，大家也都会来订上几份。" 位于湘家荡大道的春光饭店，则是另一处承载记忆的"老字号"。这家店自1986年开业至今，白切鸡、油 爆虾、糯米团子等特色菜，早已成为周边居民心中一份温润而扎实的味觉记忆。 对许多在外求学、工作的游子而言，去春光饭店吃一顿饭，或是买一份传统糕点当早点，便是触手可及 的"家的味道"。那一口熟悉的滋味，不仅唤醒了舌尖的记忆，更加深了人与城的情感联结。它承载的不 仅是手艺与风味，更是一方水土的文化密码、时令节气的民间注脚。 近年来，湘家荡区域（七星街道）以美食为媒激活文化 ...

Core Viewpoint - The company emphasizes its three main business segments: the sauce and marinated products segment as the core pillar, the rice products segment operated by its subsidiary, and the freeze-dried food segment acquired from Fuzhou Lixing Food, which will be launched by September 2025 [1][2]. Business Segments - The sauce and marinated products segment is identified as the company's core pillar [1]. - The rice products segment is managed by the subsidiary Zhenzhen Laolao [1]. - The freeze-dried food segment includes products like freeze-dried chocolate, tea drinks, and yogurt cubes, primarily targeting B2B channels, with partnerships established with brands such as Sam's Club, Yili, and Meiji Black Chocolate [1]. Offline and Online Integration - The company's offline store layout is primarily concentrated in Jiangxi (approximately 40% share), Guangdong, and Fujian, while it is adapting to new retail and media trends to enhance online and offline integration [2]. - A diverse online channel matrix has been established, covering delivery platforms, group buying, live streaming, and community e-commerce, as well as sales platforms like Taobao, Tmall, JD, and Pinduoduo [2]. - The company aims to drive sales through a comprehensive model combining stores, delivery, community, and Douyin, with online orders accounting for about 35% of total sales [2]. Future Promotion Strategies - Future brand promotion will focus on three main directions: collaborative promotion to break regional blind spots, innovative low-cost marketing strategies, and deepening customer engagement to enhance brand youthfulness [3]. - The company plans to leverage online platforms for content virality and explore the establishment of a membership rights system to strengthen long-term competitiveness [3].

Core Insights - Shanghai is the leading city in China's baking industry, with over 8,000 baking stores, accounting for a significant portion of the 338,000 nationwide [1][4] - The city's baking culture has evolved through distinct phases, each reflecting changes in consumer preferences and market dynamics [6][8] Group 1: Historical Development of Baking in Shanghai - The baking industry in Shanghai can be divided into four key phases, each marked by unique characteristics and consumer trends [8][10] - The first phase (1990s) saw the emergence of local brands and a mix of traditional and modern baking styles, with brands like 凯司令 and local shops gaining popularity [8][10] - The second phase (late 1990s to early 2000s) marked the entry of foreign and Taiwanese brands, leading to a brand-centric market with chains like 面包新语 and 克莉丝汀 becoming household names [12][14] - The third phase (mid-2000s) introduced boutique bakeries focusing on artisanal products, emphasizing quality ingredients and craftsmanship, with brands like Sunflour and 百丘 leading the way [17][20] - The fourth phase (late 2010s to early 2020s) saw a resurgence of local flavors and innovative concepts, blending traditional Chinese elements with Western baking techniques [22][24] Group 2: Factors Contributing to Shanghai's Dominance - Shanghai's unique consumer base, characterized by a willingness to experiment and a high aesthetic standard, has fostered a vibrant baking culture [32][34] - The city's dense urban structure and strong social media presence facilitate rapid brand visibility and consumer engagement, making it a trendsetter in the baking industry [35][37] - The evolution of baking entrepreneurs, often with international experience, has led to a focus on brand storytelling and lifestyle integration, enhancing product differentiation [38][40] - The discerning nature of Shanghai consumers drives continuous innovation among baking brands, ensuring that they remain at the forefront of market trends [41][46] Group 3: Current Trends and Consumer Behavior - The current baking landscape in Shanghai is marked by a diverse range of offerings, catering to various consumer segments and preferences [27][29] - The rise of health-conscious consumers has led to an emphasis on ingredient transparency, with terms like "French flour" and "natural yeast" becoming essential in brand positioning [48][50] - A shift in aesthetic preferences has emerged, with consumers favoring simplicity and authenticity over ostentation, reflecting a broader cultural trend towards minimalism [51][53] - The concept of baking as a lifestyle and cultural expression has solidified, with products serving as social currency and identity markers among consumers [55][57]

Core Viewpoint - The article explores the cultural and historical connections between Taiwan and mainland China through street names and local cuisine in Taipei, highlighting the shared memories and nostalgia among the Taiwanese people [2][6][8]. Group 1: Street Names and Historical Significance - Taipei features numerous streets named after places in mainland China, reflecting a systematic naming convention based on geographical locations [6]. - After Taiwan's return to China in 1945, many streets were named to eliminate colonial influences, with a notable architect using a map of China to guide the naming process [6][8]. - There are currently 151 streets in Taiwan named "光复" (Restoration), which carry historical significance and are integrated into daily life [4]. Group 2: Culinary Heritage and Market Culture - The South Gate Market in Taipei, with nearly 120 years of history, serves as a hub for traditional mainland Chinese snacks and goods, showcasing the culinary nostalgia of the Taiwanese people [8][9]. - The market features long-standing businesses, such as "合兴糕团店," which has been operating for almost 80 years, offering traditional foods that evoke memories of home [9][11]. - The connection to mainland China is emphasized through the experiences of business owners who maintain their culinary traditions while expressing pride in their heritage [11].

Core Insights - The article explores the cultural and historical significance of street names in Taipei, reflecting a connection to mainland China and the shared memories of the Taiwanese people [7][10][13] - It highlights the culinary heritage found in markets like the South Gate Market, showcasing traditional foods that evoke nostalgia among the Taiwanese population [11][13] Group 1: Street Names and Cultural Significance - Taipei features numerous streets named after locations in mainland China, allowing residents to feel a connection to their heritage [6][7] - The naming of streets in Taipei was influenced by a systematic approach, aligning with geographical locations in mainland China, which was initiated after Taiwan's return to Chinese sovereignty in 1945 [7][10] - There are currently 151 streets in Taiwan named "光复" (Restoration), reflecting historical memories and cultural identity [4] Group 2: Culinary Heritage - The South Gate Market, with nearly 120 years of history, serves as a hub for traditional snacks and goods from mainland China, catering to the nostalgia of the Taiwanese people [10][11] - The market features long-standing businesses, such as the He Xing Cake Shop, which has been operating for almost 80 years, emphasizing the continuity of culinary traditions [11][13] - The connection to mainland China is further reinforced by the experiences of business owners who maintain ties to their ancestral homes, showcasing pride in their heritage [13]

Group 1 - The company is focusing on optimizing its production capacity to seize market opportunities, with new production lines for seasonal foods already established this year [2] - The cold processing area of the new production facility meets a ten-thousand-level air purification standard, specializing in products like Qing Tuan, rice mooncakes, and rice cakes, with a daily production capacity of 8 tons [2] - By enhancing production processes and increasing line utilization, the company aims to ensure product quality while empowering future development in baking [2] Group 2 - For the Mid-Autumn Festival in 2025, the company will focus on high-margin products such as the "Chuan Shi Zhen Yue" and "Wu Fang Rice Moon" gift products, continuing to deepen its seasonal market layout [2]

Core Viewpoint - Wufangzhai is planning to expand its international market presence through a listing on the Hong Kong Stock Exchange, aiming to enhance brand recognition and financing capabilities, although some analysts believe this move may be premature given the current acceptance of traditional Chinese food in overseas markets [2][4]. Group 1: Company Overview - Founded in 1921, Wufangzhai specializes in the research, production, and sales of glutinous rice-based foods and is recognized as one of the first "Chinese Time-honored Brands" [4]. - The company operates two major production bases in Jiaxing and Chengdu and has established a comprehensive marketing network across China, including retail, chain stores, and e-commerce [4]. - Wufangzhai's product range includes seasonal foods like zongzi and mooncakes, as well as frozen foods and baked goods [4]. Group 2: Financial Performance - In the first half of 2025, Wufangzhai reported revenue of 1.592 billion yuan, a slight increase of 0.66% year-on-year, while net profit attributable to shareholders decreased by 16.7% to 195 million yuan [4][5]. - The company is focusing on optimizing its channel structure, with significant growth in direct high-end supermarket channels and steady expansion of chain stores [5]. Group 3: Production and Efficiency - For the first half of 2025, Wufangzhai produced 33,553.05 tons of zongzi, with an outsourcing production of 7,128.92 tons, resulting in a self-production ratio of 82.48% [6]. - The company has implemented cost reduction and efficiency enhancement strategies, leading to a decrease in sales and management expenses compared to the previous year [6]. Group 4: Market Expansion and Challenges - Wufangzhai has plans to accelerate its international market expansion, seeking new growth opportunities despite concerns about the readiness of overseas markets for traditional Chinese foods [2][5]. - The company has faced food safety issues, including a recall of products due to contamination concerns, highlighting the importance of stringent quality control in the food manufacturing industry [8]. Group 5: Store Network - As of June 30, 2025, Wufangzhai operated 106 direct stores and 27 cooperative stores, totaling 496 outlets across major cities in the Yangtze River Delta, Wuhan, and Macau [9].

Group 1 - The core point of the article is that Wufangzhai, known as the "first stock of zongzi," plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and brand image [2] - The company aims to accelerate its internationalization and diversify its capital operation platform to improve overseas financing capabilities [2] - The H-share listing requires approval from the board of directors, shareholders, and regulatory bodies, which introduces significant uncertainty regarding its implementation [2] Group 2 - Wufangzhai's main products include zongzi, mooncakes, qingtuan, tangyuan, baked goods, frozen foods, and pre-prepared dishes [3] - In the fiscal year 2024, the revenue from zongzi was 1.579 billion CNY, a decrease of 18.64% compared to the previous year [3] - For the first half of 2025, the company's net profit attributable to shareholders was 195 million CNY, down 16.70% year-on-year [3] Group 3 - As of September 26, Wufangzhai's stock price closed at 17.68 CNY per share, with a total market capitalization of 3.485 billion CNY [4] - The stock's trading data includes a highest price of 18.01 CNY, a lowest price of 17.60 CNY, and a trading volume of 24,627 hands [5] - The company has a total share capital of 197 million shares and a price-to-earnings ratio (TTM) of 33.79 [5]

Group 1 - The company Wufangzhai plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international brand image and diversify its capital operations [2] - The H-share listing is part of the company's overall development strategy and aims to accelerate its internationalization and overseas business layout [2] - The listing process requires approval from the board of directors, shareholders, and regulatory bodies, which introduces significant uncertainty regarding its implementation [2] Group 2 - Wufangzhai's main products include traditional festival foods such as zongzi, mooncakes, and various baked and frozen foods [3] - In the fiscal year 2024, the company's revenue from zongzi was 1.579 billion yuan, a decrease of 18.64% compared to the previous year [3] - As of June 30, 2025, Wufangzhai had established 496 stores through various business models including direct sales and franchising [3] Group 3 - As of September 26, the company's stock price was 17.68 yuan per share, with a total market capitalization of 3.485 billion yuan [4]

Core Viewpoint - Wufangzhai, known as the "first stock of zongzi," plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and brand image while diversifying its capital operations [2]. Group 1: H-Share Listing - Wufangzhai announced its intention to issue H-shares and list on the Hong Kong Stock Exchange, with the board authorizing management to initiate preparatory work for this listing [2]. - The H-share issuance aims to accelerate Wufangzhai's international strategy and overseas business layout, enhancing its international brand image and financing capabilities [2]. - The listing process requires approval from the board and shareholders, as well as regulatory review by the China Securities Regulatory Commission and the Hong Kong Stock Exchange, introducing significant uncertainty [2]. Group 2: Corporate Governance - A shareholder meeting was held on the same day to elect five non-independent directors and three independent directors, with Li Jianping as chairman and Wei Rongming as vice chairman [3]. - Key management appointments include Ma Jianzhong as general manager and Ma Dongda as executive vice general manager, among others [3]. Group 3: Product and Financial Performance - Wufangzhai's main products include zongzi, mooncakes, and various baked and frozen foods, with a diverse product range [3]. - For the fiscal year 2024, Wufangzhai reported zongzi revenue of 1.579 billion yuan, a decline of 18.64% year-on-year [3]. - In the first half of 2025, the company's net profit attributable to shareholders was 195 million yuan, down 16.70% compared to the same period last year [3]. - As of June 30, 2025, Wufangzhai had established 496 stores through various operational models [3]. Group 4: Market Performance - As of September 26, the closing stock price of Wufangzhai was 17.68 yuan per share, with a total market capitalization of 3.485 billion yuan [4].