有网友在社交平台发帖称，"入职三只松鼠就会失去本名，CEO叫松鼠老爹，老板娘叫松鼠老母。"图片 显示，在三只松鼠的分销会上，每个座位都摆放着以"鼠"字开头的名牌。就连三只松鼠党委名单也均 以"鼠"字开头。相关网帖引发广泛讨论，有网友评论称"校招HR叫鼠爱才"，"旗舰店客服也都是鼠某 某"。 针对网友质疑员工改"鼠"姓是否强制性的问题，11月25日，南都记者从三只松鼠方面获悉，员工 改"鼠"姓是企业内部的一种文化，并非强制规定。三只松鼠工作人员告诉南都记者，松鼠爱吃坚果，在 公司成立之初，员工就代入小松鼠的视角，小松鼠像一个萌宠，所以喊消费者"主人"。 近日，员工入职三只松鼠要改"鼠"姓的话题登上微博热搜。有网友发帖称，三只松鼠党委名单的姓名也 都是以"鼠"字开头。11月25日，南都N视频记者从三只松鼠方面获悉，员工改"鼠"姓是企业内部文化， 并非强制规定。有内部工作人员表示，"名字都是自己取的，有同事叫'鼠标垫''鼠键盘'。离职之后公司 也会帮我们保留名字。" 上述工作人员表示，员工入职的时候，公司会建议大家取一个"鼠"名，让员工自由发挥。"所有的名字 都是我们自己取的，很多同事取名很抽象，比如'鼠标垫''鼠 ...

Group 1 - The return rate for women's clothing live-streaming exceeds 80%, highlighting a significant trust crisis in the e-commerce sector due to high "trust costs" [3][4] - The strictest regulations for power banks will be implemented, rendering previous 3C certification standards obsolete, with new national standards proposing numerous stringent improvements in three technical areas: complete units, circuit boards, and battery cells [3][4] - Three squirrels company confirmed that employees are encouraged to change their names to include "Mouse" as a prefix, emphasizing brand culture [3] Group 2 - Apple is reportedly undergoing rare layoffs as it restructures its sales department, indicating potential shifts in its operational strategy [4] - Lei Jun increased his stake in Xiaomi by 100 million Hong Kong dollars, continuing to repurchase 21.5 million shares over two consecutive days, reflecting confidence in the company's future [4]

Core Viewpoint - The company, Three Squirrels, has a unique internal culture where employees are encouraged to adopt names starting with "Mouse" to enhance brand identity and foster a friendly atmosphere. This practice is not mandatory and does not carry any consequences for those who choose not to participate [1]. Group 1 - Three Squirrels has a cultural practice where employees use names prefixed with "Mouse" to create a sense of closeness and brand uniqueness [1]. - The company clarified that the use of "Mouse" names is not a compulsory requirement, and employees are informed about this custom upon joining [1]. - Photos shared by netizens show name tags starting with "Mouse" at a distribution meeting, indicating the prevalence of this naming convention within the company [1]. Group 2 - Legal expert Yang Min stated that while many companies encourage fun nicknames to strengthen corporate culture, requiring employees to use names with "Mouse" is not illegal as long as it is not enforced coercively [1]. - If the practice is implemented without force and does not infringe on employees' rights, it is generally considered legal [1]. - However, if the company were to enforce this naming convention, it could potentially violate employees' dignity and personal rights [1].

Group 1 - The number of applicants for the national master's degree entrance examination in China has decreased for the first time in eight years, with 2026 registrations at 3.43 million, down from 4.74 million in 2023, marking a reduction of 1.31 million [4] - Xiaomi's founder Lei Jun has increased his stake in the company by purchasing over HKD 100 million worth of shares, raising his ownership to 23.26% [5] - The CEO of Watsons, Ed, made headlines for rescuing a drowning woman in Hong Kong, showcasing a commitment to public safety [5][6] Group 2 - The company Xpeng faced backlash after a customer reported being injured by a door at one of its dealerships, leading to discussions about customer service and safety protocols [9] - The company Jiyue Automotive's associated company has filed for bankruptcy, highlighting financial struggles within the electric vehicle sector [11] - Apple is reportedly undergoing layoffs in its sales department, affecting several positions, despite the company's strong revenue growth [12] Group 3 - OpenAI is actively recruiting from Apple's hardware engineering team, indicating a competitive landscape in the AI sector [14] - Amazon plans to invest up to $50 billion to enhance its AWS capabilities for government clients, focusing on AI and high-performance computing [13] - The Chinese company ZhiYuan has launched a platform allowing users to customize robot characteristics without coding knowledge, reflecting advancements in robotics technology [24]

Group 1 - Lei Jun, the founder and CEO of Xiaomi Group, has personally invested over 100 million HKD to increase his stake in the company to 23.26% by acquiring 2.6 million shares [1] - Xiaomi Group has conducted significant stock buybacks, repurchasing 21.5 million shares for over 800 million HKD in the past two days, bringing the total buyback amount for the year to over 2.3 billion HKD [1] Group 2 - Jidu Automotive's affiliated company, Shanghai Jidu Automotive Co., Ltd., has filed for bankruptcy, with a registered capital of 400 million USD and operations in electric vehicle sales and parts manufacturing [2] - The company has faced financial difficulties since December of last year, leading to supplier claims for unpaid debts [2] Group 3 - Hema's budget community supermarket, Chaohe Suan NB, has officially opened its franchise application, with the first batch of cities including Shanghai, Hangzhou, Jiaxing, and Huzhou, and an annual franchise fee of 50,000 CNY [5] - Deep Blue Automotive has plans to take over Beijing Hyundai's Chongqing factory, although specific production timelines and models remain undisclosed [5] Group 4 - OpenAI has been actively recruiting from Apple's hardware engineering team, hiring over 40 employees, including high-level directors and engineers, which has caused dissatisfaction at Apple [5] - Meta is seeking electricity trading licenses to support its ambitious AI data center plans, which require significant energy resources [5] Group 5 - Tesla's CEO Elon Musk announced that the company is nearing completion of the AI5 chip and has begun development on the AI6 chip, aiming to produce a new AI chip annually [5] - The new chips will be utilized for autonomous driving and humanoid robots, with Musk personally involved in the design process [5] Group 6 - The global sales of new energy vehicles (NEVs) are projected to grow by 25% year-on-year in 2025, with a significant increase in sales expected in the third quarter [20] - BYD and Tesla lead the market in both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) [21] Group 7 - China's textile and apparel exports from January to October 2025 reached 243.95 billion USD, reflecting a decline of 1.6% year-on-year, with October exports alone dropping by 12.6% [22]

Group 1 - Watsons CEO Ed jumped into the sea to save a drowning woman in Hong Kong, completing the rescue in just 48 seconds, highlighting his instinctive response to help others [2] - Three squirrels company clarified that the use of "Mouse" as a name prefix for employees is a cultural practice and not mandatory, aiming to create a friendly and brand-centric environment [3][4] Group 2 - PADI announced the permanent disqualification of a diver who closed another diver's air tank underwater, emphasizing the seriousness of the incident and the diver's lack of professional certification [3] - Twelve routes between China and Japan have canceled all flights, with a projected cancellation rate of 21.6% for the upcoming week, marking the highest rate in a month [4][6] Group 3 - Xiaomi's founder Lei Jun increased his stake in the company by purchasing over HKD 100 million worth of shares, while the company has repurchased over HKD 2.3 billion worth of shares this year [8] - The 2026 national master's degree entrance exam in China has seen a registration of 3.43 million candidates, indicating a significant interest in higher education [9] Group 4 - The U.S. government efficiency department has been confirmed to be dissolved ahead of schedule, with its functions absorbed by the personnel management office [10] - The film "Zootopia 2" has set a record for the highest pre-sale box office for an imported animated film in China, surpassing RMB 200 million [10] Group 5 - The Shanghai government has implemented a new regulation allowing caregivers of elderly individuals to take up to 7 days of leave for hospital visits, enhancing support for families [11] - The Ministry of Industry and Information Technology has announced the establishment of a standardization committee for humanoid robots, with key industry figures appointed as deputy chairs [11] Group 6 - The Malaysian government plans to ban social media use for individuals under 16 years old, aligning with similar measures in Australia to protect minors online [16] - The company Vionbotics has launched the world's first embodied intelligent facade cleaning robot, designed for public spaces like airports and shopping malls [26]

Core Viewpoint - The article discusses a unique cultural practice at Three Squirrels Co., Ltd., where employees adopt names starting with the character "鼠" (meaning "squirrel") to foster a sense of camaraderie and brand identity. This practice is not mandatory but is encouraged within the company culture [2][6]. Group 1 - Three Squirrels has a cultural practice where employees use names prefixed with "鼠" to enhance brand identity and create a friendly atmosphere [2][6]. - The company clarified that this naming convention is not enforced and employees can choose whether to adopt it without facing any consequences [6]. - Legal experts noted that while encouraging such naming practices is generally legal, mandatory enforcement could infringe on employees' personal rights [6]. Group 2 - As of November 24, Three Squirrels' stock price increased by 0.63%, reaching 22.46 yuan, with a market capitalization of approximately 9 billion yuan [7]. - The company was founded in 2012 by Zhang Liaoyuan and is headquartered in Wuhu, Anhui, primarily dealing in nuts and snacks. It went public in 2019, becoming known as the "first stock of national snacks" [6].

Core Viewpoint - The company, Three Squirrels, has a cultural practice where employees adopt names starting with "鼠" (Shu), but participation is not mandatory [2] Group 1: Company Culture - Employees are informed about the naming convention upon joining, and it is accepted without objection [2] - During a distribution meeting, name tags starting with "鼠" were displayed for each seat, indicating the prevalence of this practice [2] - The company’s party committee list also features names beginning with "鼠," further emphasizing this cultural aspect [2] Group 2: Legal Perspective - A lawyer from Hubei Chisheng Law Firm stated that encouraging employees to use fun nicknames is common in many companies [2] - If the company does not enforce this naming convention through coercion and respects employees' rights, it is generally considered legal [2] - However, if the practice is enforced, it could potentially violate employees' dignity and personal rights [2]

Investment Rating - The report maintains a "Buy" rating for the food and beverage industry, highlighting several key companies as investment opportunities [3][4]. Core Insights - The food and beverage industry is experiencing internal rotation in new consumption and improvement at the bottom of traditional consumption. The overall performance in 2025 was weak, primarily due to the adjustment in the liquor sector, but the long-term recovery trend for mass consumer goods remains intact [3][8]. - For 2026, structural opportunities are expected to continue, with new consumption showing internal rotation and traditional consumption gradually recovering from the bottom [3][15]. Summary by Sections Industry Overview - In 2025, the food and beverage sector's revenue grew by only 0.1% year-on-year, while profits fell by 14.6%, underperforming compared to the previous year. The industry index ranked last among 31 sub-industries with a decline of 4.8% [8][11]. - The adjustment in the liquor sector is identified as the main factor for the overall weak performance, while the recovery trend for mass consumer goods is expected to persist [8][11]. Soft Drinks - The beverage industry is projected to benefit from a rebound in travel demand in 2026, with a revenue increase of 6.2% in the first half of 2025 compared to the previous year [42][45]. - Cost advantages from declining prices of raw materials like sugar and PET are expected to continue, enhancing profit margins for beverage companies [45][49]. Snacks - The konjac snack sector is experiencing high growth, with companies like Salted Fish and Wei Long achieving significant revenue increases in 2025 [66][67]. - The competitive landscape for konjac products is expected to remain manageable, with established brands likely to maintain their market positions despite new entrants [70][76]. Dairy Products - The dairy sector is anticipated to see a recovery in supply-demand balance, with raw milk prices expected to stabilize in 2026 due to ongoing supply adjustments [38][39]. - Policies promoting consumption are expected to benefit liquid milk and milk powder sales, driving demand improvements [38][39]. Frozen and Condiment Products - The frozen food sector is expected to see performance improvements as competition stabilizes, with a focus on recovery in demand [38][39]. - The condiment sector is also projected to benefit from a gradual recovery in consumer demand [38][39]. Liquor - The liquor industry is still in an adjustment phase but is gradually approaching a bottoming out stage, with supply clearing expected to continue into 2026 [6][25]. - The report suggests that the long-term value of liquor stocks will become more apparent as the market stabilizes [6][25]. Investment Recommendations - Key companies to watch include Dongpeng Beverage, Nongfu Spring, and Moutai in the beverage sector, as well as Wei Long and Salted Fish in the snack sector [6][8].

Core Viewpoint - The recent controversy surrounding the unique "nickname culture" at Three Squirrels reflects the company's organizational structure and strategic choices during market transitions, highlighting a disconnect between internal perspectives and external consumer perceptions [2][4][10] Group 1: Organizational Culture - The "nickname" culture aimed to break down hierarchical barriers and foster a sense of equality, but terms like "Old Squirrel" and "Old Mother" inadvertently reinforce centralized authority, contrasting with the flat, professional structures favored by modern internet companies [4][6] - The emergence of the term "Return Squirrel" illustrates a focus on internal efficiency, yet it clashes with consumer sensitivities, indicating a growing disconnect as the company scales [4][9] Group 2: Strategic Shifts - Since 2023, Three Squirrels has initiated aggressive reforms aimed at reducing prices and increasing profits, aligning with its "high-end cost-performance" strategy [6][8] - The company has implemented deep supply chain reforms, significantly lowering costs in manufacturing and distribution, which necessitates a highly efficient and committed internal team [8] Group 3: Market Positioning - The strong execution culture is reflected in the company's performance, with high double-digit growth in revenue from platforms like Douyin, indicating a recovery in both revenue and net profit across channels [8] - The nickname culture serves as a tool for organizational management, with the CEO emphasizing the importance of employee alignment with corporate values to maintain operational efficiency [9] Group 4: Risks and Challenges - The brand faces risks of dulling consumer perception as younger generations prioritize equality and emotional value, which may conflict with the paternalistic image projected by the company's internal culture [9][10] - Overemphasis on cultural uniformity may stifle innovation and adaptability within the organization, as evidenced by the delayed response to consumer complaints regarding the "Return Squirrel" incident [9][10]