Group 1: Snack Food Industry - Qiaqia Food achieved steady revenue growth in October, but nut category volume contracted in November due to the timing of the Spring Festival, while the sunflower seed category continued to grow. The main focus for future product development will be on nuts, including single nuts and flavored nuts, with increased promotion and distribution efforts. New products in the pipeline include konjac, peanut fruit, potato chips, and nut milk, indicating a stronger push for category expansion compared to the past [4] - Ximai Food's sales performance in Q4 2025 is strong, continuing the trend from the previous three quarters. The company aims to maintain steady revenue growth in its oatmeal business for 2026, with new health products expected to contribute additional revenue. The online sales of new health products launched in late November are performing well, and the company plans to continue channel expansion [4] - Wancheng Group is focusing on improving store quality while controlling the speed of new store openings. The performance of same-store sales has improved compared to H1 2025, and the company plans to accelerate store openings in 2026. The company is also experimenting with new product categories in different city tiers, including short shelf-life products and daily necessities [4] Group 2: Food Supply Chain - Anjijia Food reports continued improvement in operations, with reduced price competition in the frozen food industry. The company has seen improved downstream restaurant demand and has maintained low promotional efforts, resulting in lower inventory levels among distributors. The focus has shifted from channel-driven to new product-driven strategies, with notable sales growth in new products like shrimp slices [5][6] - The company is also expanding into frozen baking and halal food sectors, indicating a diversification of its product offerings. The channel strategy has evolved from fully embracing customization to a more controlled approach, enhancing operational efficiency [6]