不同集团(6090.HK)深度报告:以服务家庭CFO为核心 人群品牌思维下的先行者

中信建投证券
Dec 07, 2025

核心观点公司2019 年创立BeBeBus 品牌,得益于对耐用消费品的成功理解,通过高品质、中高毛利率的产品策略切入高端耐用品市场,瞄准家庭消费的核心决策者——“家庭CFO”(定义为高净值家庭的宝妈);凭借产品创新+前沿材料/工艺/技术构建产品差异化壁垒;通过小红书与抖音锚定用户和建立消费者品牌认知,在电商、私域、线下渠道实现用户价值变现。后续看点在于更多家庭CFO 数量增长、推出更多SKU 达到...

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