Toly Bread(SH:603866) Mei Ri Jing Ji Xin Wen·2025-09-04 23:02Core Viewpoint - The recent advertisement by Tao Li Bread has sparked controversy due to its insensitive wording, leading to public backlash and the removal of the ad [1][3][5]. Group 1: Advertisement Controversy - The advertisement for the "Egg Mooncake" product included a phrase suggesting that those who dislike the five-nut flavor have not yet experienced life's hardships, which was criticized as using others' suffering for marketing [1][3]. - Following the backlash, Tao Li Bread's official customer service confirmed that the advertisement was taken down and the five-nut flavor was no longer available on their e-commerce platform [5][6]. - The company acknowledged that the ad was part of a new internal creative process involving employees of different ages, but one version led to significant controversy [5][6]. Group 2: Financial Performance - Tao Li Bread's financial performance has been under pressure, with a reported revenue of 1.26 billion yuan from mooncakes in 2024, accounting for approximately 2.07% of total revenue [7]. - The company experienced a decline in both revenue and profit in the first half of the year, with total revenue of 2.611 billion yuan, down 13.55% year-on-year, and a net profit of 204 million yuan, down 29.7% [8]. - The decline in net profit was attributed to increased depreciation costs from new projects and higher advertising expenses, which rose to 42.96 million yuan in the first half of 2025, a more than 40% increase from the previous year [8]. Group 3: Market Position - Tao Li Bread, established in 1997 and known as the "first bread stock" in A-shares, operates a comprehensive business in baked goods, including seasonal products like mooncakes [7]. - The company's stock price recently closed at 5.68 yuan, with a market capitalization of 9 billion yuan [9].