文 | 氨基观察

jianzhongshuangxiongzhengbazhengshijinrushenshuiqi。

conglinchuangpkdaochannengjingsai，zaidaoweilaidebujuzhizheng，nuohenuode、lilaidazhanzhenghan。suizheshuangxiongzaiguoneishangyehuadetuijin，xinzhanjusuizhifuchushuimian。

12yue9ri，koufubansimeigelutaizaimeituanquanwangshoufa，tongshiduanyiyoutierbotaikaiqiyuyuefuwu。shuangfangzaizhongguoshichangdeshoucijiaofeng，youyiciyinqileshichangguangfanguanzhu。

zheiyushileyidian，bunengzaiyongchuantongyiyaodeshijiao，qukandairiyiyuxiaofeiyiliaomiqiejiehedeglp-1rleiyaowu，ji，yaofangdengchuantongqudaoguranfeichangguanjian，danxianshangqudaoyezaibiandeyuelaiyuebukehuoque。

fouze，lilaibuhuizaimeiguozhuanmentuichuzijidezaixianyiliaopingtailillydirect，rujinyouzaiguoneidaxiangxianshangzhanyi。

duiyuyiyaochanyeeryan，zheiwuyishiyigezhideguanzhudezhongyaoqushi。

01 首次正面交锋背后

wulunshinuohenuodehaishililai，jiweiguanzhuxianshangqudaodeyuanyinbunanlijie。

glp-1yingyongdehexinchangjing，shiyigejiyao、haiyaodefuzawenti：jiyaohuanzheyouqingxiderenzhi，haiyaojubeiyouxiaodeshouduan，bingqiedapeigaozhiliangdezhenliaotixi。

qizhong，kejixingchengleyigesheiyeraobukaidehuati。yijianzhongshiyingzhengweili，yifangmian，bingbushisuoyoudeyiyuandouyouxiangyingdefeipangmenzhen，yebushisuoyoudehuanzhedouqingchunaxieyiyuankeyikaijuchufang。

lingyifangmian，yinweizaijianzhongyaowuhuopishijianyouxiandeqingkuangxia，shejidaopuhuojindubuyidewenti，chuxianmouxieyiyuanyouyao、youxieyiyuanmeiyouyaodeqingkuang，youqishixianxiazhengzhixinyaoshoufaqi，shichanggongyingliangbenjiujinzhang。ruguobuzhiqingdefeipangzheng、tangniaobinghuanzhe，daliangjiruyiyuan，huijiadayiliaotixixingdefudan，tongshiyehuizengjiahuanzhedejinglichengben。

dakaixiaohongshu，qiugounuoheyinghuoshaichuyuyuejiludebijibibijieshi，zheiqizhongguranyoubufenrenshichuyuaimeijianfei，danyebufadaochuzhaoyaoqueqiuyaowumendehuanzhe。liru，youxiaoshandewangyouzaixiaohongshushangfabubijitucao，paolehaojijiayiliaojigou，douhaimeiyoumaidao。

zheiyeyiweizhe，yaoqixuyaozaiheguidekuangjianei，jianshaohuanzhexunzhaoyaopindeshijianhejingli，rangyaowugengrongyihuode。erzaijiejuekejixingfangmian，yiyaodianshangpingtaibiranshiyigeraobukaidehuati，yinweizheishiyigechujimiangengguang、gengbianjiederukou。

nuoheyingqidongshangyehuahou，chuyuguoneiyaojianguiding，nuohenuodecengduiwaibiaoshi，gongsibingweishouquangaichanpindewangluoxiaoshou。xingyerenshizhichu，xianshangdexiangxianglibingbujuxianzaizuoweixiaoshouqudao，pingtaijuyougengwanzhengdexinxiheshuju，zaibangzhuhuanzhexunyizhaoyaodeguochengzhong，yaoqiyekeyigenghaodiwanchengyonghuxinzhipeiyang。

zaimeituanshang，muqianhuanzhetongguosousuoguanjiancinengtiaozhuandaozhuanlanyemian。

ranhou，genjuyemianzhanshi，huanzhenenggouxuanzebendideyiliaojigou，jinxingyuyuezhenliaofuwuheliuyao，bufendiqudezhensuohaizhichilengliansongyao。youipweiyubeijingdewangyouyuechukaishizaixiaohongshushanggengxinnuoheyingjianfeixinde，qizhengshitongguomeituanwanchengleyuyuefuwu。

congshangshuliuchenglaikan，womenbunanfaxian，yiyaodianshangpingtainenggouweihuanzhejiejuelianggewenti：diyi，jiejuelehenduohuanzhedoubuzhidaoqunageyiliaojigoudekunhuo；dier，daeguanfangbutiejinyibujieshenglehuanzhedegouyaochengben，tigaolexiaolv。

yezhengyinci，nuohenuode、lilaizaiguoneishichangdeshoucijiaofeng，doutixianlequdaoduoyuanhuadetedian。congnuohetaidaonuoheying，zaidaokoufubansimei，keyishuo，“glp-1quanjiatong”bulunshizaidingdiandeshouquanyaofang，haishiyetaigengxinyingdedtpyaofangdengqudao，liangjiayaoqidoujinxinglepuhuo；tongshi，yiyaodianshangpingtaiyechenglebizhengzhidi。

02 折射出趋势之变

yiyaodianshangpingtaichengweibizhengzhidi，zheifuhedangqianchanyefazhandequshi，youqishiduiyujianzhongyaowueryan。

yifangmian，zheishigengfuhejianzhongyaowuhuanzhequntixiaofeixiguandequdao。

nianqingrenshijianzhongyaowudexiaofeizhulijun。jinnianlai，guoneiqingnianfeipanglvchixushangsheng，tangniaobingyechengxianchunianqinghuadequshi。dundunnaicha、tiantianaoyedeshenghuoxiguanxia，wulunshisimeigelutaihaishitierbotai，doushizaishejiaomeitishangguanzhudujiaogaodechanpin。

yinci，weileshipeitamendexiaofeixiguan，bixutupochuantongyaopinyingxiaodexianzhi，gengrongyiyingxiangtamendexiaofeijuece。yiyaodianshangpingtaizhengshiqihelezheiyilinian。

liru，zuoweishenghuofuwupingtai，meituandeyonghuquntinianlingkuaduda，jumeitishuju，shoupi“koufubansimei”zuijijidexiadanyonghujizhongzaizhongniannanren，35suiyishangrenqungaoda53%，youqishi40-50suizheigejieduan，zhengzaijijiweishoushen“duoshou”。ciwai，shangshutijidenianqinghuanzhe，youqishi90houhe00hou，tamenzaimeituandeyonghuzhongzhanbiyejiaoda。

lingyifangmian，zheiyeshigengfuhezhongguohuanzhegouyaodefazhanqushi。

shishishang，buzhishinianqingren，suizhegengweibianjie、xianshangbijia，yijiyibaozhichidengyixilieyinsudetuidongxia，xianshangshouyaozaoyichengweidashisuoqu。2023nianyiyaodianshanglingshouguimowei3064yiyuan，xianshangfeneyou2019niande15.7%zengzhangwei2023niande33%。anzhaozheigezengsu，henkuaijiuhuijinruxianshangxianxiawuwukaidejumian。

zaineiwaishuangzhongyinsudetuidongxia，congnuohenuodedenuoheyingdaonuohexin，zaidaotierbotai，qishoufayuyuedoujijixiangmeituan、jingdong、alidengyiyaodianshangpingtaichangkai。

xiaoguoyexianeryijian。juhuaerjiejianwenbaodao，12yue9ri，koufubansimeizaimeituanshoufadangwan，simeixiangguanchanpindeshunshisousuolianghuanbiqianyirifanbei，ciri“simeigelutai”weijumeituanmaiyaoshishiresouciqiansanwei。

03 仍需继续探索的路

duiyuyaoqieryan，chufangyaodezhuzhanchangrengshiyuannei，danshi，haodechanpinjiehehaodequdaotuiguangcelve，yedequenenggoudadaoshibangongbeidexiaoguo。

jiehefazhanqushilaikan，yiyaodianshangpingtai，wuyishijianzhongyaowuqudaoshiyouyidebuchong，shijingxihuaqudaocelvedeyihuan。dangran，muqianrengyuanweizhizhongdian，wulunyaoqihaishipingtai，douxuyaozaizheitiaolushangjixutansuo。

diyi，ruhegengweizhunque、jishidipipeihuanzhexuqiu？

xiangbiyuxianxiaqudao，hulianwangqueshishiyigegengjingzhundequdao。danshi，duiyuyiyaodianshangpingtaizisheneryan，jingzhunpipeifuwurengshiyigexiangduijiaoxindehuati。

youqishimuqianeryan，yeneirenshifenxi，jianzhongrechaoxia，muqianshimianshangxiangguanyaowudexuqiudayugongying，dangqianduocaiyongdeshiyaodian、zhensuo、dingdiantijianjigoudeyaowuyuyuezhi。

zheiyeyaoqiu，pingtainenggoujiangjishigengxinwanzheng、quanmiandegongjiqingkuang，gengdachengdujianshaohuanzhexunzhaoyaopindeshijianhejingli。

dier，ruhegengquanmianditishengzhenliaofuwu？

jianzhongyaowudetigong，bujinjinshiyigejiandandetigongchanpindeguocheng，ershixuyaozonghekaolvliangfangmianyaosu：

yifangmian，butonghuanzhedetizhi、jiankangzhuangkuanghejianfeixuqiugebuxiangtong；lingyifangmian，jianzhongquntishigaoduchayihuade，bujintixianzaishenticengmian，gengtixianzaijiankangyishi、jingjizhuangkuangdeng，yinciduiyujiankangdezhuiqiuyeshibutongde，jutitixianshi，birumouxiequntizaijianzhongdetongshi，xiwangjigoutigonggengquanmiandejiankangfuwu。

yinci，hulianwangpingtaixuyaotigong、gengquanmiandexuanze，jinerweigengduoquntidailaizhenliaofuwutiyandetisheng。huoxu，zheiyeshijianzhongjutoumenbuyueertongyazhuzaimeituandengdisanfangpingtai，huozijianzaixianyiliaopingtaidehexinyuanyin。

zongdelaishuo，ruhetishengzonghefuwunengli，yigenghaodifuwuzhongguojianzhonghuanzhe，haiyuanweidaozhongdian。zheixuyaoyaoqihepingtaixieshougongjin，jixutansuohewanshan。