20250629-海通国际-餐饮_潮玩及家电行业周报_10页

China Discretionary & Staples Weekly Summary (June 29, 2025)

Industry Highlights:

• Guming launched freshly brewed coffee at 8.9 RMB with celebrity endorsement, signaling expansion in affordable coffee market.
• Time Magazine included Pop Mart and Mixue Ice Cream as influential global companies for the first time.
• Bubble Mart is rumored to enter the appliance sector, seeking talent in areas like smart home technology.
• Chagee introduced a new tea product, while Yum China unveiled AI-driven tools for restaurant operations, and Domino's expanded its durian pizza lineup.
• National policies boosted consumer spending through trade-in funds exceeding 1.4 trillion RMB, and Haier established a robotics division.
• New refrigerator energy efficiency standards set to take effect in 2026, accompanied by rising industrial automation.

Stock Performance:

• Food & Beverage Sector: Top performers include Small Caiyuan (+17.2%), Green Tea Group (+14.0%), DPC Dash (+10.8%), and Xiabuxiabu (+7.5%). Underperformers include Chagee (-7.8%).
• Designer Toys Sector: Strong shows from Bubble Mart (+7.6%) and Miniso (+3.5%), contrasting with Bloks (-3.9%).
• Home Appliances Sector: Robo Knight (+5.4%) led gains, while Hisense Holdings A shares (-5.6%) lagged.