三只松鼠回应临近春节涨价：属实

Core Viewpoint - The company is adjusting the ex-factory prices of certain products in its offline distribution channel due to rising logistics and labor costs ahead of the Spring Festival, which is a routine practice. This adjustment is not expected to significantly impact overall operations, and the final retail prices may not necessarily increase [1][2]. Group 1: Price Adjustment - The company plans to adjust the ex-factory prices of some products in its offline distribution channel starting January 19, 2026, with specific prices to be confirmed in a detailed pricing table [1]. - This is the second price adjustment within three months, with the first adjustment occurring in October 2025, affecting various products with price changes ranging from 0.2 to 10 yuan [1]. Group 2: Financial Performance - For the first three quarters of 2025, the company reported an 8.22% year-on-year revenue growth, reaching 7.759 billion yuan, but the net profit attributable to shareholders plummeted by 52.91% to 161 million yuan [2]. - The company's core revenue source, the nut category, generated 2.731 billion yuan in revenue in the first half of 2025, accounting for nearly 50% of total revenue, but its gross margin decreased by 2.64 percentage points to 23.91% [2]. Group 3: Cash Flow and Future Strategy - The company's net cash flow from operating activities for the first three quarters of 2025 was -506 million yuan, a drastic decline of 1690.52% year-on-year [2]. - As of the end of the third quarter, the company's cash reserves were 242 million yuan, which was less than its short-term borrowings of 576 million yuan [2]. - The company is focusing on the development of offline "lifestyle stores" to boost performance, with 16 stores opened across eight locations in Jiangsu and Anhui provinces as of January 16, 2026 [2].