Core Viewpoint - The announcement of table tennis Olympic champion Sun Yingsha as the spokesperson for Xiangpiaopiao's original leaf instant tea series signals a clear intent to reshape brand value and aligns with the company's performance expectations for the 2025 third quarter report [1][3]. Group 1: Business Performance - In the first three quarters, Xiangpiaopiao achieved a revenue of 1.684 billion yuan, with the ready-to-drink segment contributing 833 million yuan and the brewing segment contributing 822 million yuan [1]. - The company is focusing on a dual-driven strategy to stabilize its business, emphasizing "differentiation + health" to meet core consumer demands [1][3]. Group 2: Product Innovation - Xiangpiaopiao is launching the original leaf instant tea series, which includes original leaf instant milk tea and light milk tea, aiming to provide high-quality products at affordable prices, starting from a minimum price of 6 yuan [4]. - The company emphasizes a "quality-price ratio," ensuring better quality at the same price or lower prices for the same quality, leveraging its 20 years of industry experience in product development and supply chain [4][5]. Group 3: Market Positioning - The ready-to-drink segment has surpassed the brewing segment in revenue contribution, with the introduction of Meco fruit tea, which features real fruit juice and freshly brewed tea, targeting the 5 yuan price range [5]. - Xiangpiaopiao's differentiation strategy connects the two business lines, targeting the gap between ready-to-drink and traditional beverages, providing healthy and quality products at accessible prices [5][9]. Group 4: Consumer Engagement - The company is actively engaging consumers through experiential marketing, such as pop-up stores that offer on-site original leaf instant tea, enhancing consumer connection and brand recognition [9][10]. - Xiangpiaopiao's target audience primarily includes young professionals, students, and health-conscious women, utilizing tailored spokespersons and various marketing channels to reach these demographics effectively [10]. Group 5: Technological Innovation - The company is committed to health-oriented product innovation, employing a full-chain technology upgrade to create barriers to entry, ensuring reliable quality and safety while maintaining affordability [7][8]. - Xiangpiaopiao's production processes utilize advanced technologies, such as ultra-instant freshness locking and high-quality raw material sourcing, to enhance product quality and extend shelf life without preservatives [8].