古茗：供应链筑基，下沉市场稳步加密

山山看消费2025-07-08

投资要点▌“外卖大战”爆发，茶饮旺季充分受益继2025年4月京东入局外卖之后，7月2日，淘宝闪购宣布启动500亿元规模补贴计划，将在未来12个月直补消费者及商家，7月5日美团上线大量大额优惠券进行定向狙击，当日截至22时54分美团即时零售日订单突破1.2亿单，其中出餐稳定、客单低、消费频次高的茶饮行业在此轮竞争中充分受益，同时品牌端受益于高频曝光与有效消费者触达，后续长尾效应明显。▌供应链效率筑牢...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2549592666?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2025-07-08 13:50","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2549592666","market":"hk","top_or_hot":-1,"title":"古茗：供应链筑基，下沉市场稳步加密","media":"山山看消费","content":"<div>\n<p>投资要点▌“外卖大战”爆发，茶饮旺季充分受益继2025年4月京东入局外卖之后，7月2日，淘宝闪购宣布启动500亿元规模补贴计划，将在未来12个月直补消费者及商家，7月5日美团上线大量大额优惠券进行定向狙击，当日截至22时54分美团即时零售日订单突破1.2亿单，其中出餐稳定、客单低、消费频次高的茶饮行业在此轮竞争中充分受益，同时品牌端受益于高频曝光与有效消费者触达，后续长尾效应明显。▌供应链效率筑牢...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250708135141a69c6c14&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>古茗：供应链筑基，下沉市场稳步加密</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n古茗：供应链筑基，下沉市场稳步加密\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-07-08 13:50 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250708135141a69c6c14&s=b><strong>山山看消费</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>投资要点▌“外卖大战”爆发，茶饮旺季充分受益继2025年4月京东入局外卖之后，7月2日，淘宝闪购宣布启动500亿元规模补贴计划，将在未来12个月直补消费者及商家，7月5日美团上线大量大额优惠券进行定向狙击，当日截至22时54分美团即时零售日订单突破1.2亿单，其中出餐稳定、客单低、消费频次高的茶饮行业在此轮竞争中充分受益，同时品牌端受益于高频曝光与有效消费者触达，后续长尾效应明显。▌供应链效率筑牢...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250708135141a69c6c14&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01364","symbol_name":"古茗","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250708135141a69c6c14&s=b","article_id":"2549592666","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250708135141a69c6c14&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2549592666","pubTimestamp":1751953818,"columns":[],"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"公司自建高效供应链与渠道精益管理构筑核心运营壁垒，随着门店扩张规模效应凸显，公司强成本管控利好市场竞争。▌盈利预测公司作为大众现制茶饮龙头，以自建供应链筑基，通过咖啡场景延伸与门店扩张激活增量，持续挖掘下沉市场空间，同时单店经营持续向好。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"01364":"古茗","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","LU2488822045.USD":"ALLIANZ CHINA HEALTHY LIVING \"AT\" (USD) ACC","BK1233":"餐馆","BK1616":"咖啡茶饮"},"translate_title":"Gu Ming: Supply chain foundation, sinking market steadily encrypts","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"01364":1},"content_text":"投资要点▌“外卖大战”爆发，茶饮旺季充分受益继2025年4月京东入局外卖之后，7月2日，淘宝闪购宣布启动500亿元规模补贴计划，将在未来12个月直补消费者及商家，7月5日美团上线大量大额优惠券进行定向狙击，当日截至22时54分美团即时零售日订单突破1.2亿单，其中出餐稳定、客单低、消费频次高的茶饮行业在此轮竞争中充分受益，同时品牌端受益于高频曝光与有效消费者触达，后续长尾效应明显。▌供应链效率筑牢底盘，规模效应持续释放公司作为大众现制茶饮龙头，目前已实现全国30+仓库500店/仓高覆盖，重点区域双仓强基提效，建仓周期压缩至半年，集采保障产品品质稳定与价格优势；同时对加盟商实行强管控，督导+稽核双线保障。公司自建高效供应链与渠道精益管理构筑核心运营壁垒，随着门店扩张规模效应凸显，公司强成本管控利好市场竞争。▌布局咖啡拓展品类剧增，区域深耕稳扎稳打公司以业务拓展与规模扩张为核心增长引擎，战略布局咖啡品类及推进门店网络下沉。咖啡业务代言活动期间销量翻倍，逐步建立品牌心智；核心产品轻椰拿铁定位年度经典品类，叠加7月推新，持续巩固市场热度。门店网络加速扩张，后续区域布局延续区域加密策略，深度挖掘下沉市场，2025年目标净增2000家，单店模型持续优化，投资回报周期逐步修复，盈利能力有望进一步提升。▌盈利预测公司作为大众现制茶饮龙头，以自建供应链筑基，通过咖啡场景延伸与门店扩张激活增量，持续挖掘下沉市场空间，同时单店经营持续向好。预计2025-2027年EPS分别为0.82/0.99/1.17元，当前股价对应PE分别为31/26/22倍，首次覆盖，给予“买入”投资评级。▌风险提示宏观经济下行风险，行业竞争加剧风险，食品安全风险，门店拓展不及预期。盈利预测","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2549592666","isCrawlerRequest":true}