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蜜雪冰城海外已进入或者短期拟进入的国家以及对应人口数
蜜雪冰城海外已进入或者短期拟进入的国家以及对应人口数
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所属报告:
蜜雪集团-港股公司研究报告-茶饮下沉与出海标杆未来成长空间几何?-250527(42页).pdf
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图4-112021—2025年蜜雪冰城全球门店数量变化趋势
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自研数据
2026-01-29
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蜜雪冰城是国内现制茶饮龙头
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行业数据
2026-01-28
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蜜雪冰城在国内门店数遥遥领先
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行业数据
2026-01-28
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蜜雪集团拥有全方位供应链体系
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行业数据
2026-01-28
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蜜雪冰城拥有五大生产基地(截至2024年9月30日)
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行业数据
2026-01-28
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蜜雪冰城采购规模大,议价能力强
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市场规模
2026-01-28
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蜜雪集团成长飞轮核心靠规模效应
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市场规模
2026-01-28
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蜜雪冰城在国内平价茶饮市占率超过50%(按
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竞争格局
2026-01-28
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蜜雪冰城更多布局下沉市场(%)
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行业数据
2025-12-08
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2021-2025H1蜜雪冰城加盟商毛开和净开店数量(家)
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2025-11-21
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2021-2025H1蜜雪冰城海外门店收入情况及增速
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2025-11-21
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2021-2025H1蜜雪/古茗/茶百道/沪上阿姨加盟商带店率
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2025-11-21
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2021-2025H1蜜雪冰城加盟商数量(个)及增速
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2025-11-21
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2021-2025H1蜜雪冰城内地门店总数(家)及增速
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2025-11-21
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2021-2025H1蜜雪冰城海外门店数量(家)及增速
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2025-11-21
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海外蜜雪:5 年期维度看,海外蜜雪门店规模有望达到 1.5 万家。参考百胜餐饮集团以及百胜中国两家上市公司 2024 年年报数据,肯德基 2024 年全球门店规模为 3.17 万家,其中中国门店数为 1.16 万家,肯德基中国门店数占比约 36.7%,且中国肯德基门店增速高于全球大盘,假设稳态下肯德基门店占比有望达 40%。若假设蜜雪冰城在全球各国充分渗透的理想状态下,对标肯德基门店海外/国内分布也有望达到 40%/60%分布,上述提及蜜雪冰城国内门店数空间约 5.77 万,理想状态下蜜雪冰城全球理论门店空间约 14.43 万家。结合公司招股说明书及公司最新新闻报导看,目前蜜雪已经进入或短期将进入的国家分别为印尼、巴西(5 月12 日公告将启动供应链建设)、日本、菲律宾、越南、泰国、缅甸、韩国、马来西亚、澳大利亚、柬埔寨、老挝以及新加坡。根据 IMF 最新数据,对应各国常住人口数如下,上述国家人口数占全球总人口数比重为 13.9%,若以人口数作为门店空间的最核心关联指标,则门店空间占比约 16.9%(=13.9%/82.4%)。目前蜜雪现阶段所重点布局的海外市场门店空间 1.5 万家+(计算公式=海外市场门店总空间 8.66 万*海外已布局市场占比 16.9%)。
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蜜雪集团-港股公司研究报告-茶饮下沉与出海标杆未来成长空间几何?-250527(42页).pdf
财务预测与估值
历史及未来3年单店创收及商品销售收入核心假设
不同时间开业的门店店效数据
蜜雪冰城各线级城市、海外市场单店模型以及幸运咖2024年单店模型
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