“卖身”武汉国资终止，良品铺子“一股两卖”困境难解

Core Viewpoint - The attempt by Wuhan state-owned assets to acquire control of the struggling snack giant, Liangpinpuzi, has ultimately failed due to unmet conditions in the agreement [1][2]. Group 1: Transaction Details - The proposed transaction was intended to change the fate of Liangpinpuzi but ended without success after 90 days of negotiation [2]. - The controlling shareholder of Liangpinpuzi remains Ningbo Hanyi, with actual controllers being Yang Hongchun, Yang Yinfeng, Zhang Guoqiang, and Pan Jihong [3]. - The termination of the transaction was primarily due to a share transfer dispute between Ningbo Hanyi and Guangzhou Light Industry Trade Group [4]. Group 2: Legal Disputes - In May, Ningbo Hanyi signed an agreement with Guangzhou Light Industry, allowing the latter to acquire some shares of Liangpinpuzi after due diligence, but no formal agreement was signed later [4]. - Guangzhou Light Industry expressed dissatisfaction with Ningbo Hanyi's actions and filed a lawsuit on July 14, seeking asset preservation, which led to the freezing of Ningbo Hanyi's 19.89% stake in Liangpinpuzi [4][6]. - By July 31, the penalties and costs claimed by Guangzhou Light Industry amounted to approximately 1.023 billion yuan [6][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 [8]. - In the first half of 2025, Liangpinpuzi transitioned from profit to loss, reporting a loss of 93.55 million yuan [9]. - The company's market value has decreased by over 80% from its peak, now standing at 5 billion yuan, attributed to performance challenges and competition from discount snack brands [9].