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百果园董事长余惠勇言论引争议 市值蒸发超七成、2024年由盈转亏 夫妇三年内分走近8000万
Xin Lang Zheng Quan·2025-08-11 04:31

Core Viewpoint - The company Baiguoyuan, known as the first stock in the fruit retail chain, is facing significant controversies and financial difficulties, highlighted by a recent statement from its chairman regarding high fruit prices, which has led to public backlash and a sharp decline in stock price [1][2]. Financial Performance - In 2024, Baiguoyuan reported a total revenue of 10.273 billion yuan, a year-on-year decrease of 9.8% - The gross profit was 764 million yuan, down 41.9% year-on-year - The company recorded a net loss of 386 million yuan, marking a 206.7% decline compared to the previous year, representing its first annual loss since its listing in 2020 [1][2]. Store and Membership Dynamics - By the end of 2024, the total number of Baiguoyuan stores decreased from 6,093 in 2023 to 5,127, a net closure of 966 stores, reflecting a 15.9% decline - The number of paid members fell from 1.171 million to 854,000, indicating a significant drop in consumer willingness to pay for memberships [2][3]. Profitability Challenges - The gross margin plummeted to 7.4% in 2024 from 11.5% in 2023, primarily due to a "high quality-price ratio" strategy that involved lowering product prices to attract consumers - Rising fixed costs from store renovations, digital system upgrades, and marketing investments further squeezed profit margins [2][3]. Market Competition and Consumer Behavior - The fruit retail industry is characterized by long supply chains, high waste, and high costs, with Baiguoyuan facing competition from traditional fruit stalls, farmers' markets, and emerging models like fresh e-commerce and community group buying - Economic factors have led to a downgrade in consumer spending, making them more price-sensitive, which conflicts with Baiguoyuan's high-priced offerings [3]. Franchisee Relations and Brand Image - Tensions between franchisees and the company have surfaced, with reports of franchise stores struggling to sell products and being forced to take on unsold inventory, leading to waste and negative brand perception - Complaints against Baiguoyuan have accumulated, with a total of 2,293 complaints reported on the Black Cat Complaint platform [3]. Executive Compensation and Dividends - Despite underperforming financial results, Baiguoyuan plans to distribute a total of 221 million Hong Kong dollars in dividends from 2023 to 2025 - The founders, Yu Huiyong and Xu Yanlin, hold at least 33.4% of the company's shares, potentially earning 73.814 million Hong Kong dollars in dividends over three years, alongside a combined salary of 4.263 million yuan during the same period [4].