但很多母婴店还是老思路，抖音开了团购却核销不足10单，靠9.9元游泳体验课引来的客户，大多只消 费低价品，想推高端奶粉、定制育儿服务根本没人买。更头疼的是，抖音引来的客户分散在私信、评论 区，没法集中维护，后续的育儿知识、新品活动没法精准推送，客户慢慢就流失了，之前花的引流成本 也打了水漂，真的很可惜。 2025年母婴行业获客真的彻底变了！我看数据说，抖音母婴类账号播放量虽然降了47%，但转化率却涨 了2.3倍，而且高端私域社群的首单客单价能到4800元，是低价体验课客户的16倍，这个差距真的太大 了。现在年轻爸妈也不买"专家人设"的账了，反而喜欢"沉浸式带娃""失败经验分享"这类真实内容，再 加上爸爸参与育儿决策的比例达到39%，母婴店的获客逻辑早就不是靠低价引流那么简单了。 现在母婴获客的关键是筛选精准客户，而不是盲目追求流量。年轻爸妈更愿意为"解决方案"买单，比如 把奶粉融入辅食制作场景，把婴儿游泳和发育监测结合起来。私域社群就是最好的培育场景，用工具批 量运营节省下来的时间，能多做些客户调研、真实体验分享，让客户觉得你是"育儿伙伴"而非"推销 员"，这样客户才愿意为高端产品和服务买单。 母婴行业的红利 ...

Core Viewpoint - The company faces increased uncertainty in its transformation journey due to the debt crisis of its controlling shareholder and changes in the board of directors [1][3]. Debt Crisis - The controlling shareholder, Zhejiang Xiaobei Damei Holdings Co., applied for pre-restructuring due to liquidity issues and inability to repay debts, which was approved by the court [3][4]. - As of July 23, Xiaobei Damei holds 132.6 million shares of the company, accounting for 12.28% of total shares, with 98.85% of these shares pledged or frozen [3][4]. - The company claims that the pre-restructuring will not significantly impact its daily operations, asserting its independence in business and financial matters [3][4]. Performance Fluctuations - The company's revenue peaked at over 6 billion yuan in 2013 but has since declined, with 2024 revenue reported at 2.773 billion yuan, less than half of its peak [5]. - The company has experienced five years of negative net profit over the past decade, with the highest loss exceeding 1 billion yuan in 2017 [5][6]. - Frequent performance revisions have led to the company being labeled as "A-share face-changing king," with multiple corrections to earnings forecasts and financial reports since 2013 [6]. Transformation Challenges - The company attempted to expand its product positioning to "full lifecycle health management" but faced challenges shortly after this announcement [7]. - The controlling shareholder has been listed as a dishonest executor, and there have been non-operational fund occupations amounting to 47.85 million yuan that were returned within the same year [7]. - The company has diversified into adult milk powder and high-end products, but new business segments account for less than 10% of total revenue as of 2024 [8]. - Factors contributing to the difficulties in transformation include resource dispersion, insufficient investment in core business, and frequent management changes leading to a lack of coherent operational strategies [8].