好想来”母公司又遭减持？量贩零食巨头的“小烦恼

Core Viewpoint - The controlling shareholder of Wancheng Group plans to reduce its stake by up to 1.8 million shares, representing 0.9594% of the total share capital, due to its own operational needs, with the implementation of this plan being uncertain [1][2]. Company Overview - Wancheng Group, founded in 2011 and listed on the Shenzhen Stock Exchange in April 2021, is a key national leading enterprise in agricultural industrialization, focusing on the research, cultivation, and sales of edible fungi [5]. - The company has transitioned into the retail snack business, establishing a subsidiary in August 2022, which has become its largest revenue source [6][7]. Financial Performance - In 2024, Wancheng Group's retail snack business achieved a revenue of 31.79 billion yuan, a year-on-year increase of 262.94%, with a net profit of 858 million yuan after excluding share-based payment expenses [7]. - The company operates 14,196 stores across 29 provinces, with a significant increase of 9,776 new stores in the year [7]. Market Strategy - The company positions its "Haoxianglai" brand as a community-oriented, low-cost snack paradise, relying heavily on franchisees for expansion [8][9]. - The franchise model offers zero franchise fees, management fees, or service fees, with an estimated initial investment of around 470,000 yuan for store setup [8]. Recent Developments - The company has experienced recent insider selling, with executives having previously announced their own reduction plans due to personal financial needs [3][4]. - As of July 4, the stock price has seen a decline of 12.89% over the last three trading days, closing down 0.87% on that day [10].