Three Squirrels(SZ:300783) Xin Lang Cai Jing·2026-02-01 06:39Core Viewpoint - The company expects a significant decline in net profit for 2025, with a projected range of 135-175 million yuan, representing a year-on-year decrease of 57.1%-66.9% [1]. Financial Performance - The company's net profit for Q4 2025 is expected to be between -26 to 14 million yuan, a year-on-year decline of 78.5%-138.6% [1]. - The non-net profit for Q4 2025 is projected to be between -12 to 8 million yuan, reflecting a year-on-year decrease of 85.1%-123.0% [1]. - Revenue forecasts for 2025-2027 are 10.87 billion, 12.57 billion, and 13.91 billion yuan, with year-on-year growth rates of +2.3%, +15.7%, and +10.7% respectively [3]. Strategic Initiatives - The company is actively exploring new business models, including the launch of "life halls" aimed at creating a community convenience living circle [2]. - The life halls will feature a multi-category self-owned brand supply system, focusing on fresh produce, ready-to-eat meals, and standard products [2]. - The company maintains its "high-end cost performance" strategy while moving towards higher quality and differentiation in its product offerings [2]. Innovation and Supply Chain - The company leverages its strong selection advantage in retail to drive rapid innovation and expand its differentiated product system [2]. - The self-owned supply chain supports the company's ability to explore new opportunities through differentiated innovation [2]. Profitability Outlook - Despite short-term profit pressures due to rising traffic costs, the company is expected to explore new growth opportunities through its ongoing business model innovations [3]. - The projected net profit for 2025-2027 is 160 million, 230 million, and 320 million yuan, with a year-on-year change of -59.7%, +41.9%, and +37.4% respectively [3].