“卖身”武汉国资终止 良品铺子“一股两卖”困境难解

Core Viewpoint - The potential acquisition of the struggling snack giant, Liangpinpuzi, by Wuhan state-owned assets has failed due to unmet conditions in the agreement, leaving the current controlling shareholder, Ningbo Hanyi, in place [1][2]. Group 1: Transaction Details - The transaction, which could have changed Liangpinpuzi's fate, ended after 90 days of negotiation without success [2]. - The termination of the deal was primarily due to a share transfer dispute between Ningbo Hanyi and Guangzhou Light Industry Trade Group [3]. - Ningbo Hanyi had previously signed an agreement with Guangzhou Light Industry in May, allowing the latter to acquire some shares after due diligence, but did not formalize the share transfer [3][5]. Group 2: Legal Disputes - Guangzhou Light Industry's firm stance in the dispute included a request for Ningbo Hanyi to fulfill the share transfer agreement and to pay a penalty calculated at 0.05% of the total transaction price, along with covering legal costs [4]. - As of July 31, the penalties and costs claimed by Guangzhou Light Industry amounted to approximately 1.023 billion yuan [5]. Group 3: Company Performance - Liangpinpuzi recorded its first annual loss since going public in 2024, with a net loss of 46.1 million yuan [6]. - In the first half of 2025, the company experienced a significant loss of 93.55 million yuan, marking a shift from profit to loss [7]. - The company's market value has decreased by over 80% from its peak, now standing at 5 billion yuan, amid challenges such as consumer downgrade and competition from bulk snack brands [7].