Core Insights - The rise of the "Nai Pi Zi Tang Hu Lu" (milk skin candied hawthorn) has created a consumption craze across China, significantly impacting the stock price of San Yuan Co., Ltd. [1][4] Group 1: Phenomenon and Market Impact - The product has transcended traditional food boundaries, becoming a social event with over 100,000 posts on Xiaohongshu and over 300 million views on Douyin [2] - The snack's popularity is driven by both a desire for novelty and social engagement, turning it into a "social currency" among young consumers [2][3] Group 2: Product Characteristics and Consumer Appeal - The product's visual appeal and nostalgic connection to childhood snacks have contributed to its viral success, aligning with health trends and consumer psychology [3] - The combination of traditional flavors and modern presentation has created a strong market presence, leading to widespread consumer participation [3] Group 3: Financial Implications for San Yuan Co., Ltd. - San Yuan Co., Ltd. experienced a stock price surge, with a four-day trading limit increase following the product's popularity, although the company clarified that the product's sales impact is minimal [4][5] - The company's revenue for the first three quarters of 2025 was 4.871 billion yuan, a 10.06% year-on-year decline, indicating underlying challenges despite a 124.84% increase in net profit [5] - The product's short lifecycle and high production costs pose risks to sustained profitability, with raw material prices for milk skin increasing by 400% [5]

Core Viewpoint - The article discusses the phenomenon of "milk skin candied hawthorn," which has gained immense popularity both online and offline, leading to long queues and skyrocketing prices for this traditional snack [4][10]. Group 1: Product Popularity - The milk skin candied hawthorn has become a viral sensation, with consumers waiting in line for over two hours to purchase it, and prices being inflated by resellers [6][9]. - In Shanghai, the online price for this product reached 98 yuan per stick, while the offline price was 49 yuan, reflecting the high demand and limited supply [9]. - The product's popularity has led to significant online engagement, with discussions on platforms like Douyin and Xiaohongshu reaching millions of views [9]. Group 2: Market Dynamics - The rise of milk skin candied hawthorn is attributed to its innovative twist on a traditional snack, combining familiar flavors with a new texture that appeals to consumers [11][13]. - The product has successfully tapped into the emotional value for consumers, transforming a simple snack into a social and experiential item that enhances identity and social capital [13]. - Despite its current popularity, there are concerns about the sustainability of this trend, as consumer feedback indicates mixed feelings about the product's taste and value [14]. Group 3: Industry Insights - The success of milk skin candied hawthorn highlights the importance of understanding consumer preferences for emotional value and the need for businesses to convert fleeting trends into lasting customer loyalty [14]. - The article suggests that future market hits will depend on the ability to maintain product quality and encourage repeat purchases, rather than relying solely on viral marketing [14].

Core Insights - The popularity of "milk skin candied hawthorn" has surged both online and offline, leading to long queues and high prices, with some consumers reporting wait times exceeding two hours [3][10][15] - The product's price has escalated significantly, with online prices reaching 98 yuan per stick and offline prices at 49 yuan, driven by high demand and supply shortages [7][8] - The phenomenon has attracted attention on social media, with discussions on platforms like Douyin and Xiaohongshu reaching millions of views, indicating strong consumer interest [10][11] Summary by Sections Product Description and Popularity - The milk skin candied hawthorn is a variation of the traditional candied hawthorn, featuring a layer of milk skin that enhances its appeal [3][14] - The product has gained traction in major cities like Shanghai, Beijing, and Hangzhou, with reports of extensive queues at various outlets [5][6] Pricing Dynamics - Due to the overwhelming demand, some stores have raised prices, with reports of "scalpers" reselling the product at inflated prices, sometimes adding 20-50 yuan to the original cost [8][9] - In some cases, consumers have reported paying as much as 100 yuan per stick from scalpers, reflecting the high demand and limited supply [9] Consumer Behavior and Market Trends - The rise of the milk skin candied hawthorn is attributed to its ability to resonate with consumer emotions, transforming a simple street snack into a social and experiential product [13][14] - The product's success is also linked to its innovative approach, combining traditional flavors with modern twists, making it more appealing to a younger audience [14][15] Future Considerations - Despite its current popularity, there are concerns about the sustainability of this trend, as consumer feedback indicates potential dissatisfaction with the product's taste and value [15] - The industry may need to focus on maintaining customer loyalty and product quality to ensure long-term success beyond the initial hype [15]