Core Viewpoint - The increasing consumer interest in fresh milk products, particularly raw sheep milk, raises health concerns due to potential contamination and lack of proper pasteurization [1][2][3] Group 1: Consumer Behavior and Health Risks - Consumers are increasingly purchasing fresh milk products online, including raw sheep milk, due to perceived nutritional benefits [1] - A case study involving a consumer who contracted brucellosis after consuming unpasteurized sheep colostrum highlights the risks associated with such products [2] - The lack of proper labeling and pasteurization of raw milk products sold online poses significant health risks, including the potential for serious infections [4][5] Group 2: Regulatory and Safety Measures - Local agricultural authorities are conducting tests on sheep farms to ensure the health of livestock and prevent the spread of brucellosis [3] - Experts emphasize the importance of consuming only pasteurized milk products to mitigate health risks associated with raw milk consumption [5] - Recommendations include prioritizing the purchase of milk labeled as "pasteurized" or "UHT sterilized" and monitoring for symptoms after exposure to raw milk [5]

以下文章来源于新零售 ，作者映山红 新零售 . 品牌升级的表象与深层动因 中国零售门户网站联商网出品，全面关注新零售、新业态、新门店。 出品 / 联商专栏 撰文 / 映山红 编辑 / 娜娜 最近，消费者 走进任何一家盒马 NB门店，可能留意到一个微妙变化：原先品名为"盒马NB"的鲜牛奶，包装已悄然更换为 "超盒算NB" 字样。 店内工作人员证实， 不仅是自有品牌 logo 会 逐步更换，店招也将全面更新，供应商已开始测量门店 店招 尺寸。 这一变化看似只是表面视觉调整，实则 标志着 盒马 NB战略的重大转折。 01 表层变化是去 "盒马化"的直接体现。在乳制品等核心品类上，"盒马NB"品牌名已被"超盒算NB"取代，包装设计也进行了全面更新。这一变化正快速向全 线自有品牌商品延伸。咨询门店员工得到的反馈显示，店招更换工作已进入实施阶段，品牌视觉体系将全面革新。 更深层次的动因则源于盒马NB与盒马鲜 生的定位冲突。 作为阿里旗下盒马孵化的硬折扣品牌，盒马NB以"天天低价，件件爆款"为口号，主攻价格敏感型消费群体。这与盒马鲜生多年来建立的中高端形象形成鲜 明对比。当消费者在盒马NB买到低价但品质稍逊的商品时，很容易 ...

2025 年 07 月 06 日 批发和零售贸易行业研究 买入（维持评级） 行业周报 证券研究报告 国金证券研究所 分析师：赵中平（执业 S1130524050003） zhaozhongping＠gjzq.com.cn 分析师：许孟婕（执业 S1130522080003） xumengjie＠gjzq.com.cn 联系人：王译 wangyi9@gjzq.com.cn 上周(2025/06/30-2025/07/04)上证指数、深证成指、沪深 300、恒生指数、恒生科技指数分别+1.40%、+1.25%、 +1.54%，-1.52%、-2.34%，商贸零售(申万) -0.16%，板块对比来看，商贸零售板块上周涨幅在 9 个申万大消费 一级行业板块中位列第 8。 永辉将首次举办"717 好吃节"，即时零售竞争再度升级 核心观点 线下：7 月 1 日，永辉超市正式预告其 2025 年度重磅品牌活动——"717 好吃节"即将开启。本次活动将于 7 月 9 日正式拉开帷幕，并持续至 7 月 20 日。永辉超市 CMO 佘咸平强调："717 好吃节是永辉从'货架逻辑'向'生 活方式逻辑'跃迁的关键一步。全面学习与对标 ...

Core Viewpoint - New Dairy aims to maintain expansion amidst market fluctuations, focusing on revenue and profit growth, with a strategic plan to double net profit margin over five years [2][25]. Revenue and Profit Performance - In 2024, New Dairy reported revenue of 10.665 billion yuan, a year-on-year decline of 2.93%, primarily due to the exclusion of Chongqing New Niu Han Hong Industrial from consolidated revenue [4]. - Liquid milk revenue for New Dairy in 2024 was 9.836 billion yuan, showing a slight increase of 0.83% year-on-year [4]. - In Q1 2025, New Dairy's revenue grew by 0.42% to 2.625 billion yuan, with net profit increasing by 48.46% to 133 million yuan [5]. Market Trends and Competition - The overall dairy market is facing challenges, with Nielsen IQ reporting a 2.7% decline in dairy sales for 2024 [2]. - Major competitors like Yili and Mengniu are experiencing significant declines in liquid milk revenue, with Yili's liquid milk revenue dropping by 12.32% to 75.003 billion yuan in 2024 [2]. - The low-temperature fresh milk market remains relatively stable, with a 0.4% year-on-year growth in 2024, contrasting with a 7.5% decline in overall liquid milk sales [8][9]. Strategic Initiatives - New Dairy's growth is attributed to its focus on the low-temperature fresh milk segment, which has shown resilience and growth potential [8]. - The company has introduced a variety of products, including high-end fresh milk and low-temperature yogurt, with high-end fresh milk achieving double-digit growth in 2024 [16]. - New Dairy is expanding its distribution channels, including over 500 "24-hour fresh milk" stores and partnerships with major retailers like Sam's Club and Hema [17]. Future Directions - New Dairy is exploring new growth avenues, including expanding into the beverage market and enhancing its product offerings [22]. - The company is also considering international expansion, particularly in Southeast Asia, leveraging resources from New Hope Group [24].

Group 1 - The article discusses food storage practices during summer heat, emphasizing the importance of proper refrigeration to prevent spoilage and ensure safety [1] - Different vegetables have varying storage temperature requirements; leafy greens should not be stored for more than 3 days, while other vegetables like potatoes and carrots can be stored longer [1] - Fresh milk, especially pasteurized milk, has a short shelf life of about one week and should be consumed quickly after opening [1] Group 2 - A case study is presented where a patient experienced severe dehydration and acute kidney failure after consuming overnight watermelon, highlighting the risks of eating improperly stored food [2] - It is advised that cut fruits should not be stored in the refrigerator for more than two hours to avoid bacterial growth [2] - The article warns against consuming ice-cold foods immediately after sweating, as it can lead to gastrointestinal issues [2]

以下文章来源于姚兰 Yvonne ，作者姚兰 姚兰 Yvonne . 95后作者，写消费品牌和消费投资机构，有商业和青年文化 这是新消费智库第 2 6 5 4 期文章 新消费导读 一声"Goodme"，正是对自己最有力的肯定。 作者 ：姚兰 编辑：竺天 审核： Single 来源：姚兰 Yvon n e 一代人有一代人的 "破烂"，Z世代痴迷于收集LABUBU，也热衷于收集好看的奶茶杯。 奶茶品牌在抖音开演唱会？ 去年 10月，我曾写到，ZIMOMO（LABUBU家族的首领）人偶的舞蹈视频在网络上疯传，是LABUBU出圈的原因之一。"动作清晰有力， 还会揉肚子，气血很足。""一看就是第一天上班。""谁再说自己的爱豆因为服装吃动作，就把这个给他看。". . . . . .抖音上遍地锐评。 LABUBU能够拿捏孤独的成年人，怎可忽略洗脑神曲《LABUBU之歌》？这首歌的歌词仅由一个英文单词LABUBU构成，在小红书上，有人 称歌词写得好，另一位天赋型选手对此来劲儿了："给你也写一首，momo momomomo momo momomo mo mo mo momo。" 去年下半年，我多次写到，奶茶的品牌就是它的包材， ...

茶饮市场迎来一位老字号。近日，三元食品推出新IP"北京市牛奶公司"，并开出了主打"现打鲜奶+饮品"的茶饮店，还售卖三元牛奶等零售产品。三元牛奶 的前身便是北京市牛奶公司，也是陪伴不少消费者成长的"回忆杀"，但随着消费者选择越发丰富，品牌也感到一定压力，如今便决定以茶饮店的形式增强与 年轻消费者的互动。在业内人士看来，老字号破圈"保鲜"的案例并不在少数，均在积极拥抱市场变化的，但茶饮市场竞争激烈，三元食品还需放大自身优 势，并通过差异化布局在新消费市场站稳脚跟。 今年计划新增5家门店 又一老字号开始焕发新活力。近日，一家名为北京市牛奶公司的茶饮店引发消费者打卡，门头上"70年只为一杯好牛奶""始于1956"等字样都在暗示其身份并 不简单。而这家店，正是老字号三元食品接近年轻消费者的新举措。从现场看来，门店以红白色调为主，还列出了品牌历史，不少消费者都表示唤起了过往 回忆。 产品上，菜单上的"24h牧场直供"强调着品牌特色，现场售卖茶饮、咖啡等现制饮品和奶皮子鲜牛奶等零售产品。值得注意的是，"现打鲜奶"是北京市牛奶 公司的一大特色产品，与红星前进面包牛奶公司等品牌提供的鲜奶产品在形式上较为相似。售价上，现制饮品售 ...

Core Viewpoint - New Hope Dairy is focusing on a "fresh strategy" to drive growth and innovation in the dairy industry, emphasizing high-end products, market penetration, and user engagement [2][3]. Group 1: Company Strategy - The company aims to innovate through a dual-engine approach involving product and channel development, targeting high-end and deep market segments [2][4]. - New Hope Dairy's "fresh strategy" includes a comprehensive framework of "eight fresh" dimensions, covering fresh sourcing, production, orders, delivery, and consumer engagement [4]. - The company has established a strategic partnership with the Norwegian Gene Cow Breeding Association to enhance its product offerings with Norwegian Red Cow milk [4]. Group 2: Financial Performance - In 2024, New Hope Dairy's net profit attributable to shareholders is projected to grow by 24.8%, with a net profit margin of 5.15% [3]. - The company's high-end fresh milk business has seen double-digit growth, with the "24-hour" mid-to-high-end product series revenue increasing by over 15% [3]. Group 3: Market Expansion - New Hope Dairy is pursuing a three-pronged growth strategy, which includes high-end national development, localized market penetration through the "Cool Mountain Snow" brand, and international expansion [6][7]. - The "Cool Mountain Snow" brand has achieved a 75% market share in its local area, demonstrating effective market penetration strategies [6]. Group 4: Innovation and Sustainability - The company is committed to technological and channel innovation to ensure freshness and break through homogenized competition [4][7]. - New Hope Dairy emphasizes the importance of environmental friendliness and health in its product offerings, aiming to create a sustainable and enjoyable lifestyle for consumers [7].

一些分析文章认为，山姆在中国市场不断暴雷的食品负面事件底层逻辑是由于这些年山姆在中国市场快 速发展，导致标准化的管理体系在各个门店中走样甚至失效，说到底是管理颗粒度不够细化，管理半径 太大。 一方面，广大中产依然对山姆趋之若鹜，不少人对山姆形成近乎刻板印象的认知：山姆的商品品质相较 于传统商超要好很多，甚至有业内人士也认为，对比很多国内超市，山姆对供应链的管理依然是要求最 严格的。而另一方面成为"显眼包"的恰恰又是层出不穷的山姆食品负面事件，从去年至今，几乎不间断 地被见诸报端，而且在面对这些负面事件时，山姆的处理态度甚至显得不紧不慢，不温不火。 对于如此吊诡，让人有些哭笑不得的山姆，中国的消费者还能爱它多久？也许，中国普通大众对高品 质、高保真、高安全的商品需求太渴望，而能够确保提供这"三高"产品的商家又让广大消费内心深处无 法产生足够的确定性，所以只能一方面看着山姆不断犯错，一方面又对山姆欲罢不能。 山姆在中国市场，似乎成为一种独特的存在。 山姆中国区总部对于频发的负面事件显然已经引起了高度重视，去年底，山姆换了中国区CEO。新官上 任三把火，山姆在中国进一步加快开店步伐，同时形成新的组织架构体系。 01 ...

Core Viewpoint - New Hope Dairy is focusing on innovation and consumer demand for fresh and diverse dairy products to navigate the challenges of a slowing market and declining consumption [1][2] Industry Overview - The domestic dairy industry is characterized by intense competition with a trend towards increased concentration among leading companies [2] - In 2024, China's total dairy production is projected to decline to 29.62 million tons, a decrease of 1.9% year-on-year, with liquid milk production experiencing its first drop in five years [2] - Per capita dairy consumption is expected to decrease by 5.6% year-on-year, indicating a shift in consumer behavior towards value and quality [2] Company Strategy - New Hope Dairy is committed to a "fresh strategy" that emphasizes product innovation across various categories, including fresh milk and beverages [3] - The company aims to enhance its competitive edge through the integration of AI and synthetic biology in its production processes [3] - New Hope Dairy's revenue for 2024 is projected at 10.665 billion yuan, a slight decrease of 2.93% year-on-year, while net profit is expected to rise by 24.8% to 538 million yuan [3] Growth Drivers - The company identifies three key growth drivers: high-end product development, deepening market penetration, and international expansion [4][5] - The "24-hour" fresh milk series and local market strategies are expected to contribute significantly to revenue growth, with high-end products seeing over 15% year-on-year revenue increase [5] - New Hope Dairy is also focusing on innovative distribution channels, including partnerships with major retailers and the establishment of fresh milk stores [5] Strategic Partnerships - New Hope Dairy has formed a strategic partnership with the Norwegian Gene Cow Breeding Association to introduce and cultivate Norwegian Red Cattle, enhancing its product offerings [6] - The company has already launched its first Norwegian Red Milk product, which has received positive market feedback [6]