中金：26年精细化运营为餐饮行业重点关注部分品牌调整和新模型效果_老虎社区_美港股上老虎

中金：26年精细化运营为餐饮行业重点关注部分品牌调整和新模型效果

智通财经04-03

智通财经APP获悉，中金发布研报称，自2H25以来，餐饮品牌分化延续，“外卖大战”退坡以来门店盈利能力分化、取决于同店和实收水平，26年预计各茶饮品牌将更重视产品创新并重塑健康渠道结构，部分正餐出现边际改善。26年精细化运营为行业重点，关注部分品牌调整和新模型效果。中金主要观点如下：现制饮品门店盈利分化，部分正餐出现边际改善，26年精细化运营为行业重点具体来看：1)饮品方面，估计4Q25沪上/古茗...

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