Three Squirrels(SZ:300783) Feng Huang Wang Cai Jing·2025-11-27 03:04Core Viewpoint - The recent controversy surrounding the nickname culture at Three Squirrels has sparked mixed reactions, highlighting both employee acceptance and concerns regarding personal identity and corporate culture [1][3]. Group 1: Company Culture and Employee Perspectives - Three Squirrels has implemented a nickname system where employees are referred to by names like "Mouse XX," which is intended to enhance the brand image and create a friendly work environment [1][4]. - Some employees appreciate the nickname culture as it helps to separate work from personal life and reduces hierarchical distinctions, fostering a more relaxed atmosphere [4]. - However, there are dissenting voices among employees, particularly those in customer-facing roles, who find the nickname system uncomfortable and liken it to a form of indoctrination [5]. Group 2: Financial Performance - Three Squirrels reported a revenue of 7.759 billion yuan for the first three quarters of 2025, reflecting an 8.22% year-on-year increase, but the net profit attributable to shareholders plummeted by 52.91% to 161 million yuan [6][7]. - The company's profitability is concerning, as 98.88 million yuan of the reported profit came from government subsidies, indicating that the actual operating profit, after excluding non-recurring income, was only 57 million yuan, down 78.57% year-on-year [6][7]. - The decline in profitability is further illustrated by a significant drop in basic and diluted earnings per share, both down 53.85% to 0.06 yuan per share [7].