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131 FMCG Listed Companies Release Annual Reports: 63 See Revenue Growth, 68 See Decline
In 2024, China's total retail sales of consumer goods reached 48.79 trillion yuan, a year-on-year increase of 3.5%, marking the first time it fell below the GDP growth rate of 5%. Amid slowing consumption growth, the FMCG industry has entered a new phase dominated by 'stock competition.' As of now, New Distribution has compiled revenue and net profit data from 131 FMCG companies' annual reports, ranked by revenue.
杨玉琳The Industry Has Changed: FMCG Manufacturers and Distributors Should Stop Gaming Each Other
In the FMCG industry, the distribution network is like the body's vascular system, and its smooth operation directly determines market vitality. How manufacturers and distributors build an efficient and collaborative distribution model is key to whether a brand can establish a firm foothold in regional markets. This article, based on the author's past experience, analyzes the core logic and practical strategies of distribution design to help manufacturers and distributors achieve win-win cooperation. The FMCG market shows significant regional differentiation.
邢仁宝31 Retail Enterprises Release Q1 Financial Reports: Wanchen Net Profit Surges 3344%, Yonghui Net Profit Plunges 79.96%
In Q1 2025, extreme contrasts within comprehensive retail, supermarkets, and snack food stores intensified. Suning.com, a leading enterprise, validated its transformation resilience with four consecutive profitable quarters, while Bailian Group offset a 14% revenue decline through REITs innovation and first-store economy. Regional leader Tianhong Co., Ltd. achieved profit recovery through business format restructuring, whereas Liqun Co., Ltd. and Dalian Friendship were mired in the dilemma of revenue growth without profit increase. In the supermarket sector, Bubugao leveraged the Pangdonglai model to achieve a 488% surge in net profit, while Yonghui Superstores saw profits plummet by 79.96% due to store closure pains. In the snack industry, Wanchen Group led with a 3344% net profit growth, crushing traditional brands, while Liangpin Shop and Laiyifen retreated in the price war. This industry reshuffle, driven by a supply chain efficiency revolution, is reshaping the competitive landscape of China's retail sector.
赵胜男Should Distributors Make Short Videos? In 2 Years, She Attracted 2,000+ New Customers Proactively! Sales Doubled
As short videos become part of daily life, more distributors are tapping into their traffic potential. A post-95s distributor in Hebei Langfang used 536 short videos over two years to attract over 2,000 new customers, reactivate 42% of old customers, and double annual sales.
葛畅The Time Bomb in Supermarket Business: The Joint Venture Model
The joint venture model, once a highly efficient combination for supermarkets and suppliers during the era of rapid growth, has become a time bomb threatening the survival of both parties as market increments stagnate. This article uses the story of a supermarket owner, Xiao Chen, to illustrate how the model's inherent flaws—lack of core competitiveness, mutual distrust, and neglect of product quality—lead to a lose-lose situation, and proposes a shift towards a win-win partnership based on trust and transparency.
零售荆言Orion Loses Favor: Who Stole the Sweetness of Childhood?
For Orion, 2025 is a critical year. At the 112th National Sugar and Wine Fair in March, the company launched 11 new products, the most in its exhibition history. After a 7.7% revenue growth in China in 2024, Orion faces challenges in regaining its peak performance from 2016 amid changing market dynamics and health trends.
谢小丹No Burning Money, No Rash Moves: How Can Distributors Build a B2b Business from Scratch?
During recent visits to distributors to help them implement B2b transformations, the author observed a clear divide in understanding: while most agree B2b can solve traditional trade pain points, many are stuck at the implementation stage. This article outlines which types of distributors are best suited for B2b, common pitfalls to avoid, and a phased approach to building a B2b platform from zero to one.
云川The 'Cheese Queen' Aims for 10 Billion in Revenue
When asked about her recent state, Chai Xiu, founder of Miaokelanduo, described it as 'busy and happy.' She said that with the new year, the entire company is fully committed to the new three-year goal, and this year marks the beginning of the new strategic plan. In mid-March, Chai Xiu told the author, 'After more than two years of layout and adjustment, Miaokelanduo has entered a more vibrant and confident state, with a significant trend of returning to high growth. In the first three months of this year, the company's work has been advancing efficiently.'
李欣The Evolution of a Bowl of Instant Noodles: How Master Kong Uses 'Emotional Narrative' to Win Over Young Consumers
In the highly mature instant noodle market, growth space is shrinking. As 'low price' and 'emergency use' no longer resonate with the new generation, brands must find new ways to connect. Master Kong's relaunch of its Black and White Pepper Noodles in 2024, with upgraded flavors and visuals, sparked social buzz. By 2025, the brand deepened its strategy—from selling taste to evoking emotions, from emphasizing 'classic' to co-creating 'self-pleasing' scenarios—using IP, anime-style content, and community language to engage young consumers emotionally.
冯瑶"Where There Are Scenes, There Is Sales": Brands Need a Scene 'Roadmap' for Sustained Growth
Coca-Cola's sustained growth is attributed to its consistent practice of scene marketing, which involves discovering new consumption scenes. The article introduces a scene marketing roadmap for new brands, comprising four types of scenes: source scenes, lead scenes, mainline scenes, and branch scenes, guiding brands from initial user education to sales expansion.
刘春雄Dialogue with Cai Yu: What This Generation of Users Wants Is Not Touching, but Complicity
In the first installment of our series on business narrative, we invited Cai Yu, author of the Dedao course 'Cai Yu's Business Reference' and the book 'Emotional Value.' She believes that after oversupply, sales ability becomes crucial, and sales ability is narrative ability. Narrative is our filtering, narration, and interpretation of information, selling a certain proposition to others through various actions. Today, a company's content and narrative capabilities should be part of its product strategy, even its corporate strategy; relegating them to marketing is an underestimation.
梁将军How to View JD's 7FRESH Supermarket Accelerating Its 'Warehouse-Store' Expansion?
By the end of June this year, JD's 7FRESH supermarket will open 20 'warehouse-stores' in Tianjin, according to a JD insider. This signals an acceleration in JD's layout in the instant retail market, as it aims to cover all six districts and four suburbs of Tianjin, with a new model combining stores and warehouses.
零售氪星球Under the Supermarket 'Bare Price Direct Sourcing' Storm, What Should the Cut-Off Distributors Do?
In March, Yonghui Supermarket's acting CEO Ye Guofu announced a 'bare price direct sourcing' strategy, eliminating intermediaries, which has shocked FMCG distributors. This move, along with the rise of private labels, is forcing traditional distributors to transform or face elimination.
关关Beyond ALDI: How Lidl Became the World's Largest Hard Discount Chain
At the 2025 China Supermarket Week, Jiang Shijia, head of Lianshang.com's overseas center, shared insights on Lidl's success as the world's largest hard discount retailer. Lidl's model focuses on high quality at low prices, efficient operations, and a strong private label strategy, offering lessons for Chinese retailers.
联商网编辑部How Chinese Sunflower Seeds and Spicy Strips Are Winning Over 670 Million Stomachs
In 2023, Thailand's per capita annual snack consumption reached 10.52 kg, equivalent to about 161 bags of Lay's potato chips (65g each), meaning Thai consumers ate a bag every two days. With a young population and growing purchasing power, Southeast Asia's snack market is booming, attracting Chinese snack brands to expand overseas.
唐飞Two Growth Paths for Brands: Either Dominate a Category or Dominate a Scenario
This article argues that brand growth follows two paths: one is to dominate a category (stock growth), and the other is to dominate a scenario (incremental growth). Using the example of OATLY's success in China, it illustrates how scenario-based marketing and labeling can create new demand and break through category limitations.
空手Spring Sugar Fair Concludes Successfully, Jinsha Distillery Amplifies Presence with 'Exhibition + City + Conference' Strategy
The 112th National Sugar and Wine Fair and 2025 Spring Sugar Season concluded successfully in Chengdu on March 27. As the chief partner, Jinsha Distillery impressed the industry and market with its 'Strive Upstream' brand narrative, delivering a multidimensional event covering product experience, cultural interaction, and industry dialogue, celebrating the upstream genes of the Chishui River and declaring its commitment to the industry's future.
金沙酒业The Channel Evolution of a 137-Year-Old Brand: How Lee Kum Kee and Its Distributors Navigate Cycles Together
How does a condiment brand that has spanned three centuries and 137 years of history face the new era? At the 10th China FMCG Conference, Ms. Zhang Yaping, Vice President of Lee Kum Kee Sauce Group China and Head of New Retail Operations Center, delivered a keynote titled "Thinking of Others, Winning with 'Lee' – Manufacturer-Distributor Collaboration for Shared Value." The presentation was divided into three parts: Redefining Distributor Value: From Channel Movers to Value Creators; How Distributors Develop Amid Retail Channel Transformation; and A New Paradigm of Manufacturer-Distributor Symbiosis: From Transactions to Co-creation.
张亚苹Bain & Company's Lu Xiuqiong: Consumer Breakthrough through Scenario Growth
Scenario marketing is currently a hot topic in the FMCG industry and a key strategy for driving growth. Over the past few years, it has been widely applied with notable results. Coca-Cola's OBPPC concept, which includes five elements: O for Occasion, B for Brands, P for Pack, P for Prices, and C for Channel, was proposed decades ago and has been practiced for over 50 years. The core of scenario growth lies in defining scenarios—composed of people, place, time, and emotion—to drive consumer demand. This approach requires a shift in business logic from production and price competition to demand creation through innovation and experience.
鲁秀琼Scene Revolution: Reconstructing the Golden Moments of Alcohol Consumption through Emotional Resonance
From copywriting marketing to brand renewal and multi-brand matrix upgrade, how did Jiangxiaobai achieve this? At the 10th China FMCG Conference, Yan Hongjian, Deputy General Manager of Bottle Planet (formerly Jiangxiaobai), shared insights on 'Scene Revolution: Reconstructing the Golden Moments of Alcohol Consumption through Emotional Resonance.' He detailed the practice from scene reconstruction to mind-share capture, revealing the core logic of 'precise depth' in a stock market—creating demand through emotional resonance and driving brand value leap through scene-based experiences.
颜红坚How to Seek Breakthroughs Amidst a Once-in-Thirty-Years Retail Generational Shift?
A once-in-thirty-years retail generational shift has arrived. How can traditional channels transform? How can manufacturers and distributors seize the dividends of category restructuring? At the 10th China FMCG Conference, Zhang Xinzhao, founding partner of Qicheng Capital, systematically dissected the paradigm shift in the retail industry from 'supply-driven' to 'demand-driven' from an investment perspective, and proposed breakthrough paths for the next decade. New Distribution has distilled Mr. Zhang's core viewpoints into this article for our readers (with some deletions).
张鑫钊AI in Action: How Distributors Can Achieve 3x Growth
At the 10th China FMCG Innovation Conference, Pan Kun, General Manager of Zhoupudata's Digital Intelligence Division, shared insights on how distributors can integrate AI with their operations to drive growth. He highlighted the challenges distributors face, such as 'intelligent anxiety,' and presented practical solutions like intelligent store expansion, new product distribution, and cost control, all supported by AI tools.
潘坤Want Want High-Calcium Pure Milk Ignites Spring Sugar Fair: How Golden Ratio and Scenario Coverage Reshape the Children's Dairy Track?
Chinese children are far from drinking enough milk. According to the "2020 Blue Book on Healthy Diets for Chinese Children," the average dairy intake of children aged 3-6 is only 67.74ml, with an insufficiency rate as high as 97%. This demand gap has driven the children's milk market to grow from 28.4 billion yuan in 2019 to 37.2 billion yuan in 2023, with a projected CAGR of 5.6% over the next five years. Want Want has seized this opportunity with its high-calcium pure milk in a 125ml portable pack, featuring a golden ratio of 4.8g milk protein and 150mg natural calcium, and scenario-based packaging, making it a standout at the 2025 Chengdu Spring Sugar Fair.
何雯Exploring New Product Growth Points at Spring Sugar, Check Out the Solution from Traditional Chinese Food Supplement Track Leader Lao Jin Mo Fang!
Health is the hottest topic in the consumer industry. During this year's Two Sessions, the director of the National Health Commission's speech on waist circumference went viral, reflecting a surge in health awareness. This has boosted the market for health foods, with the Chinese-style food supplement track experiencing explosive growth. Lao Jin Mo Fang, a veteran brand in this track, stands out with its quality-focused approach and supply chain investment, offering a model for others.
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