中泰证券：快餐市场重焕生机产品创新增时运营

智通财经02-09

智通财经APP获悉，中泰证券发布研报称，受宏观经济影响，叠加市场需求持续变化、市场结构进一步调整、餐饮行业经历了一轮快速洗牌，占据半壁江山的快餐市场在经历门店数量及客单价波动后已出现企稳回升态势，增长韧性较强。当前快餐行业正朝着门店更下沉、产品更多元、运营时长更长等趋势发展，建议关注门店规模数量领先、供应链体系完备、研发创新能力优异的西式快餐龙头百胜中国(09987)。中泰证券主要观点如下：据辰智...

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/2610652337?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-02-09 14:19","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2610652337","market":"us","top_or_hot":-1,"title":"中泰证券：快餐市场重焕生机 产品创新增时运营","media":"智通财经","content":"<div>\n<p>智通财经APP获悉，中泰证券发布研报称，受宏观经济影响，叠加市场需求持续变化、市场结构进一步调整、餐饮行业经历了一轮快速洗牌，占据半壁江山的快餐市场在经历门店数量及客单价波动后已出现企稳回升态势，增长韧性较强。当前快餐行业正朝着门店更下沉、产品更多元、运营时长更长等趋势发展，建议关注门店规模数量领先、供应链体系完备、研发创新能力优异的西式快餐龙头百胜中国(09987)。中泰证券主要观点如下：据辰智...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260209143431a6e4d0af&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>中泰证券：快餐市场重焕生机 产品创新增时运营</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中泰证券：快餐市场重焕生机 产品创新增时运营\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-09 14:19 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260209143431a6e4d0af&s=b><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉，中泰证券发布研报称，受宏观经济影响，叠加市场需求持续变化、市场结构进一步调整、餐饮行业经历了一轮快速洗牌，占据半壁江山的快餐市场在经历门店数量及客单价波动后已出现企稳回升态势，增长韧性较强。当前快餐行业正朝着门店更下沉、产品更多元、运营时长更长等趋势发展，建议关注门店规模数量领先、供应链体系完备、研发创新能力优异的西式快餐龙头百胜中国(09987)。中泰证券主要观点如下：据辰...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260209143431a6e4d0af&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":"LU0572944931.SGD","symbol_name":"Janus Henderson Horizon China Opportunities A2 SGD","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260209143431a6e4d0af&s=b","article_id":"2610652337","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260209143431a6e4d0af&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=2610652337","pubTimestamp":1770617994,"columns":[],"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"中泰证券主要观点如下：据辰智大数据，中国餐饮市场上，中式快餐占比超过47.0%，西式快餐门店占2.1%，两者门店规模达到近400万家，构成中国餐饮半壁江山。分品类来看，西式快餐规模增速领跑小吃快餐赛道，2025年市场规模有望突破三千亿，看好西式快餐在国内市场的持续扩容。复盘近几年中西式快餐发展，发现以下三个趋势：1)门店分布正向三线及以下城市下沉；2)产品创新加速迭代，呈现融合化与健康化趋势。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"LU0572944931.SGD":"Janus Henderson Horizon China Opportunities A2 SGD","LU2279701549.SGD":"JPMorgan Funds - Emerging Markets Sustainable Equity A (acc) SGD","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","LU0456842615.SGD":"JPMorgan Funds - Emerging Markets Equity A (acc) SGD","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","BK4531":"中概回港概念","BK4526":"热门中概股","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","BK4585":"ETF&股票定投概念","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","LU0431992006.USD":"摩根大通新兴市场机会A（acc）","IE0003895053.USD":"PINEBRIDGE ASIA DYNAMIC ASSET ALLOCATION \"AD\" USD  ACC","LU0650527681.SGD":"Fidelity China Consumer A-SGD","IE00BGV7N243.SGD":"FSSA Global Emerging Markets Focus I Acc SGD","LU2177674079.SGD":"Fidelity Asia Pacific Opportunities A-ACC-SGD (hedged)","YUMC":"百胜中国","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","BK4504":"桥水持仓","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","BK4209":"餐馆","BK4588":"碎股","LU0823426480.USD":"法巴中国股票经典Dis","LU0823426308.USD":"法巴中国股票基金","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","LU0651946864.USD":"贝莱德新兴市场股票收益A2","LU2008162690.USD":"FIDELITY FUNDS - ASIA PACIFIC OPPORTUNITIES \"A\" (USD) ACC","LU1267930573.SGD":"TEMPLETON GLOBAL \"AA\" (SGD) ACC A","LU0868486357.SGD":"JPMorgan Funds - Emerging Markets Opportunities A (acc) SGD-H","LU0228659784.USD":"施罗德金砖四国基金","LU1051768304.USD":"贝莱德新兴市场股票收益A6","LU0359201612.USD":"贝莱德中国基金A2","LU0310800379.SGD":"FTIF - Templeton Global A Acc SGD","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU0594300419.USD":"富达中国消费基金A","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC"},"translate_title":"Zhongtai Securities: Fast food market revitalizes, product innovation increases time operation","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"YUMC":0.9},"content_text":"智通财经APP获悉，中泰证券发布研报称，受宏观经济影响，叠加市场需求持续变化、市场结构进一步调整、餐饮行业经历了一轮快速洗牌，占据半壁江山的快餐市场在经历门店数量及客单价波动后已出现企稳回升态势，增长韧性较强。当前快餐行业正朝着门店更下沉、产品更多元、运营时长更长等趋势发展，建议关注门店规模数量领先、供应链体系完备、研发创新能力优异的西式快餐龙头百胜中国(09987)。中泰证券主要观点如下：据辰智大数据，中国餐饮市场上，中式快餐占比超过47.0%，西式快餐门店占2.1%，两者门店规模达到近400万家，构成中国餐饮半壁江山。从门店数目角度拆分，中西式快餐近年均呈现“先降后缓升”的波动特征。分品类来看，西式快餐规模增速领跑小吃快餐赛道，2025年市场规模有望突破三千亿，看好西式快餐在国内市场的持续扩容。从消费区间分布来看，快餐赛道主要人均消费区间在30元及以下。中式快餐消费客单价呈K形分化，西式快餐客单价24年略有下滑，25Q1趋于平稳。这一消费趋势反应消费者在选择品牌时，最重要的考虑因素是在预算不变的情况下，享受到更多样性的选择、更丰富的用餐体验，不再将目光只聚焦于价格，而是更强调品质与价格的平衡。因而，具备快速研发上新能力的企业有望把握更多消费需求。复盘近几年中西式快餐发展，发现以下三个趋势：1)门店分布正向三线及以下城市下沉；2)产品创新加速迭代，呈现融合化与健康化趋势。从产品类别方面，中西融合趋势、“餐+饮”模式、营养健康产品广受关注。肯德基以平均每月7.5款的上新速度领跑赛道，推出中式早点、米饭和夜宵炸串、荤素多多卷系列、轻食子品牌“KPRO”等。3)加码全时段运营，最大化提升门店利用率。如推出下午茶限定套餐、灵魂夜宵系列，提升下午茶时段与夜宵时段订单量占比。风险提示：门店拓张进展不及预期，消费需求变化，原料及人工成本大幅上升，研报信息更新不及时、第三方数据失真及市场规模测算偏差。","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,"symbols":[],"gpt_button":1,"need_auth":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":"4.36.2","shortVersion":"4.36.2","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/2610652337","isCrawlerRequest":true}

中泰证券：快餐市场重焕生机 产品创新增时运营

精彩评论

中泰证券：快餐市场重焕生机产品创新增时运营