Bestore(SH:603719) Xin Lang Cai Jing·2026-02-09 09:41Core Viewpoint - The article highlights issues in the nut gift box market during the Spring Festival, particularly focusing on misleading marketing practices by companies like Liangpinpuzi, which has resulted in consumer confusion and potential legal implications [3][4][19]. Group 1: Product Marketing Issues - Liangpinpuzi's 1800g nut gift box contains nearly 70% of its weight from non-nut items such as drinks and red dates, raising concerns about transparency in product labeling [3][4][19]. - The company has been criticized for mixing pure nut gift boxes with mixed snack boxes in stores without clear differentiation, leading to consumer mispurchases [8][10]. - Customer service has acknowledged the potential for misunderstanding regarding the contents of the gift boxes and stated that they will work on improving product labeling for better transparency [6][20]. Group 2: Financial Performance and Challenges - Liangpinpuzi reported a 24.45% year-on-year decline in revenue for the first three quarters of 2025, with a net loss of 1.22 billion yuan, marking a significant downturn in financial performance [4][27]. - The company has seen a reduction in store count from a peak of 3,293 in 2023 to 2,227 by the end of the third quarter of 2025, indicating a shrinkage of nearly one-third in two years [14][28]. - Ongoing legal disputes regarding shareholder equity have compounded the company's operational challenges, affecting investor confidence and financial support [15][28]. Group 3: Industry Context - The snack food industry is experiencing intense competition, with many brands facing similar issues of misleading marketing practices, as seen with other companies like Three Squirrels and Baicaowei [12][26]. - The market is shifting towards a saturated competition phase, which has led to declining revenues for established brands like Liangpinpuzi amid rising operational costs [27].