Three Squirrels(SZ:300783) Xin Jing Bao·2026-01-20 05:47Core Insights - The article discusses the recent price increase by Three Squirrels, attributed to rising logistics and labor costs, particularly ahead of the Spring Festival [2][4][5] - This marks the second price adjustment within three months, indicating a higher frequency of price changes compared to industry averages [2][7] Price Adjustment Details - The price increase affects specific products in offline distribution channels, particularly nut gift boxes and popular items, with adjustments ranging from 0.2 yuan to 10 yuan per item [3][5] - The adjustment was communicated to distributors with a three-day buffer for stock preparation, allowing them to lock in prices [4][5] Market Impact and Strategy - Distributors express concerns about the pressure of increased inventory and procurement costs, although they may not fully pass on the price increase to consumers due to competitive market conditions [3][4] - The price increase primarily impacts offline gift products, while online prices and other categories remain unaffected, suggesting limited consumer impact on purchasing decisions [4][5] Financial Performance Context - Three Squirrels has faced a "revenue without profit" situation in the first three quarters of 2025, with revenue of approximately 7.759 billion yuan, up 8.22%, but net profit down 52.91% to about 161 million yuan [9] - The company attributes profit pressure to rising raw material costs and increased market expenses, alongside changes in online platform traffic and fee structures [9]