Group 1 - The leisure food sector increased by 3.01% on January 19, with Li Gao Food leading the gains [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] - Key stocks in the leisure food sector showed significant price increases, with Li Gao Food rising by 7.34% to a closing price of 46.09 [1] Group 2 - The leisure food sector experienced a net inflow of 18.35 million yuan from institutional investors, while retail investors contributed a net inflow of 18.64 million yuan [2] - Notable stocks included San Zhi Song Shu, which had a net inflow of 36.54 million yuan from institutional investors, despite a net outflow from retail investors [3] - The overall trading volume and turnover in the leisure food sector indicated active market participation, with significant movements in individual stock prices [1][2]

Core Viewpoint - The company, Three Squirrels, is set to increase the factory prices of certain nut gift products for its offline distribution channels due to rising logistics and labor costs as the Spring Festival approaches, effective January 19, 2026 [1] Pricing Adjustment - A price adjustment notice was circulated among partners, indicating that the new prices will be based on a specific quotation provided by the company [1] - The price increase will only affect B-end customers, and the terminal prices may not necessarily rise [1]

三只松鼠 工作人员强调，此次价格调整仅面向经销商（To B端），并预留了行业通行的缓冲期，且节 后视成本变化情况恢复原价。"终端价格不一定会涨。"（21财经） ...

Group 1 - The core point of the article is that Three Squirrels (300783) plans to adjust the factory prices of its offline distribution products on January 19, 2026, due to rising logistics and labor costs as the Spring Festival approaches [1][1][1] Group 2 - The price adjustment notification has been confirmed by Three Squirrels, indicating that the specific adjusted prices will be based on a detailed quotation list [1][1][1]

Group 1 - The core point of the article is that Three Squirrels plans to adjust the factory prices of some products for offline distribution on January 19, 2026, due to rising logistics and labor costs as the Spring Festival approaches [1][2]. Group 2 - The price adjustment notification has been confirmed by Three Squirrels, indicating that the specific adjusted prices will be based on a detailed quotation list [1][2].

Core Viewpoint - The company, Three Squirrels Co., Ltd., announced a price adjustment for certain nut gift products in offline distribution channels due to rising logistics and labor costs ahead of the Spring Festival, effective January 19, 2026 [2] Group 1: Price Adjustment Details - The price adjustment specifically targets certain nut gift categories in offline distribution channels [2] - The core reasons for the price increase include tight logistics capacity and rising transportation costs, along with increased labor and service costs [2] - The company aims to maintain product quality and supply chain stability through this price adjustment [2] Group 2: Market Context and Impact - The nut gift market is experiencing heightened demand as it is a key category for the New Year consumption season [2] - The impact of the price adjustment on Three Squirrels' offline distribution business is expected to be limited due to a reasonable buffer period for partners to plan their ordering rhythm [2] - The price adjustment only covers a portion of the product categories and focuses on factory price adjustments, which may help control cost pressures while ensuring product supply and market competitiveness during the festive season [2]

Group 1 - The core point of the article is that Three Squirrels has announced a price increase for certain nut gift products due to rising logistics and labor costs ahead of the Spring Festival [1] - The price adjustment will take effect on January 19, 2026, specifically for offline distribution channels [1] - The new prices will be based on a specific quotation table provided by the company [1]

Core Viewpoint - The price adjustment by Three Squirrels reflects the cost pressures faced by the snack food industry and indicates the company's strategic intent to deepen its offline market presence and optimize channel structure [1][4]. Group 1: Price Adjustment Details - Three Squirrels announced a price increase for certain nut gift products in offline distribution channels starting January 19, while online channels and other product categories remain unaffected [1]. - The company cited rising transportation costs due to tight logistics capacity and increasing labor and service costs as reasons for the price adjustment [1]. - A three-day buffer period was provided for partners to plan orders, adjust inventory, and align pricing, demonstrating consideration for the channel ecosystem [1]. Group 2: Financial Performance - For the first three quarters of 2025, Three Squirrels reported total revenue of 7.759 billion yuan and a gross profit margin of 25.27%, but a low net profit margin of only 1.97%, indicating limited profitability [2]. - The core nut category generated revenue of 2.731 billion yuan in the first half of 2025, accounting for approximately 50% of total revenue, but its gross margin decreased by 2.64 percentage points to 23.91%, highlighting emerging cost pressures [2]. Group 3: Market Strategy and Expansion - The price adjustment is closely related to Three Squirrels' recent market positioning, with offline distribution revenue reaching 938 million yuan in the first half of 2025, a year-on-year increase of 40.21% [4]. - The company has accelerated the expansion of offline stores, with 450 stores established by mid-2025, including 333 "National Snack Stores," which account for over 74% of the total [5]. - The new retail format centered around lifestyle stores aims to capture community instant retail, integrating various product categories to meet high-frequency consumer needs [5].

1月16日，三只松鼠Mini店与分销事业部发布调价通知，宣布自1月19日起上调线下分销渠道部分坚果礼 产品出厂价，引发行业关注。在春节年货消费旺季来临之际，这一调价动作不仅折射出休闲食品行业的 成本压力，更暗藏着三只松鼠深耕线下市场的战略意图。（中国基金报） ...

Core Viewpoint - The article promotes the "Three Squirrels Premium Nut Gift Box," highlighting its selection of five classic nuts as a perfect gift option for various occasions, emphasizing quality and taste [1][19]. Product Features - The gift box includes five types of nuts: - Macadamia nuts, known for their creamy flavor and smooth texture [3] - Purple cashews, which are large, crispy, and sweet [5] - Amber walnuts, coated in a sweet shell, appealing to all ages [7] - Hand-shelled almonds, easy to peel with a rich flavor [8] - Hazelnuts, characterized by their unique woody aroma and plumpness [10] Packaging and Quality - The nuts are packaged in high-quality sealed cans, which not only enhance the aesthetic appeal but also effectively prevent moisture and maintain crispness [13][16] - The company emphasizes the selection of large, full nuts with a low rate of defective or shriveled nuts, ensuring freshness and quality through careful roasting [15] Usage Scenarios - The nut gift box is positioned as a versatile snack option for various settings: - Family gatherings, serving as a popular snack centerpiece [21] - Office drawers, providing a quick energy boost during afternoon slumps [21] - Gifts for visiting friends and relatives, symbolizing health and abundance [21] - A smart choice for personal health snacks, offering quality fats and protein [21] Promotional Offer - The article mentions a promotional campaign allowing customers to use "gold coins" for purchases, enabling a flexible payment option [22]