<p>香港，2026 年 6 月 9 日 -（ACN Newswire）- 根據市場消息，鍋圈（02517.HK）計劃將其 “社區中央廚房” 模式引入香港，首家門店預計位於灣仔，並將在年內開業。市場觀察人士表示，此舉反映了兩個考慮因素。首先，作為品牌的首次跨境舉措，它將測試鍋圈在 “家庭餐飲” 市場的大陸運營經驗是否能夠適應海外環境。其次，這被視為鍋圈海外戰略的謹慎第一步，可能作為將中國高質量食品原料供應鏈帶入國際市場的早期試驗。</p>
<p>門店網絡持續擴展，低層市場仍是核心基礎</p>
<p>截至 2026 年第一季度，鍋圈在全國擁有 11,758 家門店，較去年淨增加 1,637 家。其中，3,123 家門店位於鄉鎮級市場。在網絡結構方面，低層市場仍然是鍋圈門店基礎的重要組成部分，也是其供應鏈、履約能力和會員覆蓋的基礎。</p>
<p>市場參與者指出，鍋圈的線下門店不僅僅是銷售產品。在某種程度上，它們還充當社區服務節點、即時配送的前端履約點和地方交通的入口。該模式使公司能夠通過門店網絡貼近家庭消費場景，同時整合線下客流、會員關係和在線訂單。</p>
<p>從選址到基礎建設：十年產業發展的自然延伸</p>
<p>與一些零售商先通過在線流量擴展再建立線下渠道不同，鍋圈從實體門店和供應鏈發展開始。在建立全國門店網絡、冷鏈倉儲和配送系統以及家庭會員基礎後，公司近年來加大了對在線渠道、即時零售和數字化運營的投資。</p>
<p>在這一模式下，鍋圈建立了六個結構性壁壘：門店覆蓋、供應鏈整合、冷鏈物流、數字化能力、會員數據和基於社區的品牌認知。</p>
<p>1 萬家門店覆蓋和即時履約：鍋圈在中國擁有 11,758 家門店，每家門店都可以作為前端履約點。在線下單、店內兑換和約半小時內配送的模式，使鍋圈具備了基於實體門店的最後一公里響應能力，區別於純電商模式。</p>
<p>深厚的產業供應鏈：鍋圈控制或持有多家生產廠的股份，使其能夠在源頭管理核心品類的質量和成本，並支持以銷售驅動的生產模式和直接從源頭採購。</p>
<p>低層物流和全鏈條配送：20 個數字中央倉庫的網絡支持冷鏈配送，並實現從省會到行政村的次日配送，將物流覆蓋延伸至低層市場。</p>
<p>數據驅動的數字決策：來自門店網絡的實時銷售數據反饋到產品選擇、庫存規劃和區域定價中，幫助提高庫存週轉率和損失控制。</p>
<p>會員生態系統和復購引擎：近 8000 萬會員的基礎提供了家庭消費模式的洞察，而現有用户的重複購買正成為利潤增長的越來越重要的貢獻者。</p>
<p>社區品牌認知：品牌與 “鍋圈家庭餐飲” 的關聯已在社區紮根。因此，炒菜、即時商業和鍋圈農場等新業務無需從零開始教育市場，有助於保持相對較低的客户獲取成本。</p>
<p>門店覆蓋支持即時商業的效率；供應鏈深度支撐定價優勢；會員數據提高產品選擇的準確性；品牌認知降低擴展的邊際成本。市場參與者認為，如果這些能力繼續相互強化，將有助於提高公司的門店運營效率。</p>
<p>隨着大店升級釋放運營槓桿，增長質量改善</p>
<p>在財務表現方面，鍋圈 2026 年第一季度的收入同比增長 31.3% 至 37.2%。核心運營利潤預計達到 1.85 億至 2.05 億元人民幣，同比增長 45.3% 至 61.0%。利潤增長超過收入增長，表明產品組合、成本控制和門店運營效率可能有所改善。</p>
<p>自 2025 年下半年以來，鍋圈一直在推進門店格式升級戰略，將較小的標準門店改造為約 80 至 100 平方米的大型 “社區中央廚房” 格式。其產品類別已從火鍋和燒烤擴展到早餐、即食餐、輕食、酒精飲料和其他時段驅動的產品，同時 24 小時無人值守門店增加了全天候服務能力。更廣泛的消費場景，加上通過 “店長之家” 機制進行的區域化精細化運營，支持了同店銷售和員工效率的提升。</p>
<p>持續的股份回購和穩定的分紅信號顯示對股東回報的承諾</p>
<p>在股東回報方面，鍋圈採取了明確且一致的措施。2025 年的最終股息為每股人民幣 0.0381 元，約合港幣 0.0435 元，已在年度股東大會上獲得批准，並將於 2026 年 6 月 18 日支付。在股票回購方面，鍋圈於 2026 年 4 月宣佈計劃使用最多 2 億港元的內部資金回購 H 股，回購價格上限不超過每次回購前五個交易日平均收盤價的 5% 溢價。公司此前在公告中表示，回購反映了董事會對公司長期發展的信心。</p>
<p>多項新舉措構建效率飛輪</p>
<p>除了核心的火鍋和燒烤業務外，鍋圈今年還擴展到炒菜、露營、即時零售和直接採購的農產品。這些舉措都圍繞家庭餐飲和社區消費場景展開，並依託公司的現有門店網絡、供應鏈和會員體系進行開發。</p>
<p>鍋圈炒菜採用創新的商業模式，滿足外賣與家庭烹飪之間的需求，而鍋圈露營則將 “家庭餐飲” 場景延伸到户外環境。實質上，這兩者都反映了社區中央廚房能力的升級，從銷售食材轉向提供解決方案。支持這些場景推廣的是鍋圈即時商業和鍋圈農場。鍋圈即時商業將每個門店轉變為在線訂單和即時配送的前端履行點，而鍋圈農場則連接供應鏈的前、中、後端，利用榴蓮等熱門產品驅動門店流量，並測試高頻商品支持重複購買的流量循環。</p>
<p>從商業邏輯的角度來看，這些新舉措並不是獨立運營的業務。它們共享相同的門店網絡、供應鏈和會員數據。基於其實體基礎設施，鍋圈正從單一品類的零售店演變為一個更廣泛的消費平台，涵蓋 “每日五餐” 和更廣泛的日常消費場景。</p>
<p>版權 © 2026 ACN Newswire。保留所有權利。</p>

鍋圈

<p>鍋圈計劃將其 “社區中央廚房” 模式擴展到香港，標誌着其首次跨境舉措。截至 2026 年第一季度，公司在全國運營 11,758 家門店，在低線市場表現強勁。財務結果顯示，收入增長 31.3%-37.2%，核心營業利潤達到 1.85 億至 2.05 億元人民幣，主要得益於門店升級和效率提升。公司繼續加強其供應鏈護城河，並通過分紅和股票回購維持股東回報</p>

<p>HONG KONG, June 9, 2026 - (ACN Newswire) - According to market sources, Guoquan (02517.HK) is planning to bring its &#34;community central kitchen&#34; model to Hong Kong, with its first store expected to be located in Wan Chai and to open within the year. Market observers said the move reflects two considerations. First, as the brand's first cross-border initiative, it will test whether Guoquan's mainland operating experience in the &#34;home dining&#34; market can be adapted to an overseas setting. Second, it is viewed as a prudent first step in Guoquan's overseas strategy, and may serve as an early trial for bringing China's high-quality food ingredient supply chain to international markets.</p>
<div class="lb-trans"><p>香港，2026 年 6 月 9 日 -（ACN Newswire）- 根據市場消息，鍋圈（02517.HK）計劃將其 “社區中央廚房” 模式引入香港，首家門店預計位於灣仔，並將在年內開業。市場觀察人士表示，此舉反映了兩個考慮因素。首先，作為品牌的首次跨境舉措，它將測試鍋圈在 “家庭餐飲” 市場的大陸運營經驗是否能夠適應海外環境。其次，這被視為鍋圈海外戰略的謹慎第一步，可能作為將中國高質量食品原料供應鏈帶入國際市場的早期試驗。</p>
</div><p>Store Network Continues to Expand, with Lower-Tier Markets Still the Core Base</p>
<div class="lb-trans"><p>門店網絡持續擴展，低層市場仍是核心基礎</p>
</div><p>As of the first quarter of 2026, Guoquan had 11,758 stores nationwide, a net increase of 1,637 from a year earlier. Among them, 3,123 stores were located in township-level markets. In terms of network structure, lower-tier markets remain an important part of Guoquan's store base and a foundation for its supply chain, fulfillment capabilities and member reach.</p>
<div class="lb-trans"><p>截至 2026 年第一季度，鍋圈在全國擁有 11,758 家門店，較去年淨增加 1,637 家。其中，3,123 家門店位於鄉鎮級市場。在網絡結構方面，低層市場仍然是鍋圈門店基礎的重要組成部分，也是其供應鏈、履約能力和會員覆蓋的基礎。</p>
</div><p>Market participants noted that Guoquan's offline stores do more than sell products. To some extent, they also function as community service nodes, front-end fulfillment points for instant delivery and local traffic gateways. The model allows the Company to stay close to household consumption scenarios through its store network, while integrating offline foot traffic, member relationships and online orders.</p>
<div class="lb-trans"><p>市場參與者指出，鍋圈的線下門店不僅僅是銷售產品。在某種程度上，它們還充當社區服務節點、即時配送的前端履約點和地方交通的入口。該模式使公司能夠通過門店網絡貼近家庭消費場景，同時整合線下客流、會員關係和在線訂單。</p>
</div><p>From Site Selection to Foundation Building: A Natural Extension of a Decade of Industrial Development</p>
<div class="lb-trans"><p>從選址到基礎建設：十年產業發展的自然延伸</p>
</div><p>Unlike some retailers that first scale through online traffic before building offline channels, Guoquan began with physical stores and supply chain development. After building a nationwide store network, a cold-chain warehousing and distribution system, and a household member base, the Company has in recent years stepped up investment in online channels, instant retail and digital operations.</p>
<div class="lb-trans"><p>與一些零售商先通過在線流量擴展再建立線下渠道不同，鍋圈從實體門店和供應鏈發展開始。在建立全國門店網絡、冷鏈倉儲和配送系統以及家庭會員基礎後，公司近年來加大了對在線渠道、即時零售和數字化運營的投資。</p>
</div><p>Under this model, Guoquan has developed six structural barriers: store reach, supply chain integration, cold-chain logistics, digital capabilities, member data and community-based brand recognition.</p>
<div class="lb-trans"><p>在這一模式下，鍋圈建立了六個結構性壁壘：門店覆蓋、供應鏈整合、冷鏈物流、數字化能力、會員數據和基於社區的品牌認知。</p>
</div><p>10,000-store reach and instant fulfillment: With 11,758 stores across China, each store can serve as a front-end fulfillment point. Online ordering, in-store redemption and delivery within around half an hour give Guoquan a last-mile response capability based on physical stores, differentiating it from pure e-commerce models.</p>
<div class="lb-trans"><p>1 萬家門店覆蓋和即時履約：鍋圈在中國擁有 11,758 家門店，每家門店都可以作為前端履約點。在線下單、店內兑換和約半小時內配送的模式，使鍋圈具備了基於實體門店的最後一公里響應能力，區別於純電商模式。</p>
</div><p>Deep industrial supply chain: Guoquan controls or holds stakes in a number of production plants, enabling it to manage the quality and cost of core categories at the source and support a model of production driven by sales and direct sourcing from origins.</p>
<div class="lb-trans"><p>深厚的產業供應鏈：鍋圈控制或持有多家生產廠的股份，使其能夠在源頭管理核心品類的質量和成本，並支持以銷售驅動的生產模式和直接從源頭採購。</p>
</div><p>Lower-tier logistics and full-chain delivery: A network of 20 digital central warehouses supports cold-chain distribution and enables next-day delivery from provincial capitals to administrative villages, extending logistics coverage into lower-tier markets.</p>
<div class="lb-trans"><p>低層物流和全鏈條配送：20 個數字中央倉庫的網絡支持冷鏈配送，並實現從省會到行政村的次日配送，將物流覆蓋延伸至低層市場。</p>
</div><p>Data-driven digital decision-making: Real-time sales data from the store network feeds back into product selection, inventory planning and regional pricing, helping improve inventory turnover and loss control.</p>
<div class="lb-trans"><p>數據驅動的數字決策：來自門店網絡的實時銷售數據反饋到產品選擇、庫存規劃和區域定價中，幫助提高庫存週轉率和損失控制。</p>
</div><p>Member ecosystem and repurchase engine: A base of nearly 80 million members provides insight into household consumption patterns, while repeat purchases from existing users are becoming an increasingly important contributor to profit growth.</p>
<div class="lb-trans"><p>會員生態系統和復購引擎：近 8000 萬會員的基礎提供了家庭消費模式的洞察，而現有用户的重複購買正成為利潤增長的越來越重要的貢獻者。</p>
</div><p>Community brand mindshare: The brand association of &#34;Guoquan for home dining&#34; has taken root in communities. As a result, new businesses such as stir-fry, instant commerce and Guoquan Farm do not need to educate the market from scratch, helping keep customer acquisition costs relatively low.</p>
<div class="lb-trans"><p>社區品牌認知：品牌與 “鍋圈家庭餐飲” 的關聯已在社區紮根。因此，炒菜、即時商業和鍋圈農場等新業務無需從零開始教育市場，有助於保持相對較低的客户獲取成本。</p>
</div><p>Store reach supports the efficiency of instant commerce; supply chain depth underpins pricing advantages; member data improves product selection accuracy; and brand mindshare reduces the marginal cost of expansion. Market participants believe that, if these capabilities continue to reinforce one another, they should help improve the Company's store operating efficiency.</p>
<div class="lb-trans"><p>門店覆蓋支持即時商業的效率；供應鏈深度支撐定價優勢；會員數據提高產品選擇的準確性；品牌認知降低擴展的邊際成本。市場參與者認為，如果這些能力繼續相互強化，將有助於提高公司的門店運營效率。</p>
</div><p>Growth Quality Improves as Large-Store Upgrades Release Operating Leverage</p>
<div class="lb-trans"><p>隨着大店升級釋放運營槓桿，增長質量改善</p>
</div><p>In terms of financial performance, Guoquan's revenue increased by 31.3% to 37.2% year on year in the first quarter of 2026. Core operating profit is expected to reach RMB185 million to RMB205 million, representing year-on-year growth of 45.3% to 61.0%. Profit growth outpaced revenue growth, suggesting possible improvement in product mix, cost control and store operating efficiency.</p>
<div class="lb-trans"><p>在財務表現方面，鍋圈 2026 年第一季度的收入同比增長 31.3% 至 37.2%。核心運營利潤預計達到 1.85 億至 2.05 億元人民幣，同比增長 45.3% 至 61.0%。利潤增長超過收入增長，表明產品組合、成本控制和門店運營效率可能有所改善。</p>
</div><p>Since the second half of 2025, Guoquan has been advancing its store-format upgrade strategy, converting smaller standard stores into larger 'community central kitchen' formats of around 80 to 100 square meters. Its product categories have expanded from hotpot and barbecue to breakfast, ready-to-eat meals, light meals, alcoholic beverages and other daypart-driven offerings, while 24-hour unmanned stores add round-the-clock service capability. The broader range of consumption scenarios, together with regionalized refined operations through the &#34;Store Manager Home&#34; mechanism, has supported improvements in both same-store sales and staff efficiency.</p>
<div class="lb-trans"><p>自 2025 年下半年以來，鍋圈一直在推進門店格式升級戰略，將較小的標準門店改造為約 80 至 100 平方米的大型 “社區中央廚房” 格式。其產品類別已從火鍋和燒烤擴展到早餐、即食餐、輕食、酒精飲料和其他時段驅動的產品，同時 24 小時無人值守門店增加了全天候服務能力。更廣泛的消費場景，加上通過 “店長之家” 機制進行的區域化精細化運營，支持了同店銷售和員工效率的提升。</p>
</div><p>Continued Share Repurchases and Stable Dividends Signal Commitment to Shareholder Returns</p>
<div class="lb-trans"><p>持續的股份回購和穩定的分紅信號顯示對股東回報的承諾</p>
</div><p>On shareholder returns, Guoquan has taken clear and consistent steps. The final dividend for 2025 of RMB0.0381 per share, equivalent to approximately HK$0.0435, has been approved at the annual general meeting and will be paid on 18 June 2026. In terms of share repurchases, Guoquan announced in April 2026 that it planned to use up to HK$200 million of internal funds to repurchase H shares, with the repurchase price capped at no more than a 5% premium to the average closing price over the five trading days preceding each repurchase. The Company previously stated in its announcement that the repurchase reflected the Board's confidence in the Company's long-term development.</p>
<div class="lb-trans"><p>在股東回報方面，鍋圈採取了明確且一致的措施。2025 年的最終股息為每股人民幣 0.0381 元，約合港幣 0.0435 元，已在年度股東大會上獲得批准，並將於 2026 年 6 月 18 日支付。在股票回購方面，鍋圈於 2026 年 4 月宣佈計劃使用最多 2 億港元的內部資金回購 H 股，回購價格上限不超過每次回購前五個交易日平均收盤價的 5% 溢價。公司此前在公告中表示，回購反映了董事會對公司長期發展的信心。</p>
</div><p>Multiple New Initiatives Build an Efficiency Flywheel</p>
<div class="lb-trans"><p>多項新舉措構建效率飛輪</p>
</div><p>Beyond its core hotpot and barbecue business, Guoquan has this year expanded into stir-fry, camping, instant retail and directly sourced agricultural products. These initiatives are all centered on household meals and community consumption scenarios, and are being developed on the back of the Company's existing store network, supply chain and membership system.</p>
<div class="lb-trans"><p>除了核心的火鍋和燒烤業務外，鍋圈今年還擴展到炒菜、露營、即時零售和直接採購的農產品。這些舉措都圍繞家庭餐飲和社區消費場景展開，並依託公司的現有門店網絡、供應鏈和會員體系進行開發。</p>
</div><p>Guoquan Stir-fry uses an innovative business model to address demand between takeout and home cooking, while Guoquan Camping extends the &#34;home dining&#34; scenario into outdoor settings. In essence, both reflect an upgrade of the community central kitchen capability from selling ingredients to providing solutions. Supporting the rollout of these scenarios are Guoquan Instant Commerce and Guoquan Farm. Guoquan Instant Commerce turns each store into a front-end fulfillment point for online orders and instant delivery, while Guoquan Farm links the front, middle and back ends of the supply chain, using popular products such as durian to drive store traffic and test a traffic loop in which high-frequency items support repeat purchases.</p>
<div class="lb-trans"><p>鍋圈炒菜採用創新的商業模式，滿足外賣與家庭烹飪之間的需求，而鍋圈露營則將 “家庭餐飲” 場景延伸到户外環境。實質上，這兩者都反映了社區中央廚房能力的升級，從銷售食材轉向提供解決方案。支持這些場景推廣的是鍋圈即時商業和鍋圈農場。鍋圈即時商業將每個門店轉變為在線訂單和即時配送的前端履行點，而鍋圈農場則連接供應鏈的前、中、後端，利用榴蓮等熱門產品驅動門店流量，並測試高頻商品支持重複購買的流量循環。</p>
</div><p>From a business logic perspective, these new initiatives are not operating as standalone businesses. They share the same store network, supply chain and member data. Built on its physical infrastructure, Guoquan is evolving from a single-category retail outlet into a broader consumption platform covering &#34;five meals a day&#34; and a wider range of daily consumption scenarios.</p>
<div class="lb-trans"><p>從商業邏輯的角度來看，這些新舉措並不是獨立運營的業務。它們共享相同的門店網絡、供應鏈和會員數據。基於其實體基礎設施，鍋圈正從單一品類的零售店演變為一個更廣泛的消費平台，涵蓋 “每日五餐” 和更廣泛的日常消費場景。</p>
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鍋圈的 1 萬家門店網絡增強了其長期護城河，推動收入和利潤增長