Bestore(SH:603719) 21世纪经济报道·2025-03-04 01:25Core Viewpoint - The article discusses the recent leadership changes at Liangpinpuzi and the company's financial performance, highlighting the challenges faced in 2024, including a projected loss for the first time since its IPO in 2020 [2][8][9]. Leadership Changes - On March 3, Liangpinpuzi announced the resignation of Yang Yinfeng as Chairman and General Manager due to personal reasons, while he will continue as a board member and a member of the Strategic and Development Committee [2]. - Cheng Hong has been elected as the new Chairman of the Board, with a term lasting until the current board's term ends, and will also act as General Manager until a new one is appointed [2][6]. Financial Performance - Liangpinpuzi's 2024 earnings forecast indicates a net loss between 400 million to 250 million yuan, contrasting sharply with a net profit of 180 million yuan in 2023 [9]. - The company experienced a decline in profitability, with the first quarter of 2024 showing profits, but subsequent quarters leading to losses, particularly in the second quarter with a loss of 38.59 million yuan [10]. Reasons for Decline - The company attributed its declining performance to a pricing strategy that involved lowering prices without compromising quality, which negatively impacted gross margins [11]. - Additionally, the company faced challenges with a decrease in government subsidies by approximately 33 million yuan and the early termination of its employee stock ownership plan, which resulted in a one-time expense of about 18 million yuan [12]. Controversies - In 2024, Liangpinpuzi faced allegations of product mislabeling and ingredient fraud, although subsequent investigations by local authorities found no basis for these claims [13].