Company Overview - On July 10, the company announced that its controlling shareholder, Ningbo Hanyi Venture Capital Partnership, is planning a significant matter that may lead to a change in control of the company, resulting in the suspension of its stock from July 11 for up to two trading days [1][3] - As of the end of Q1 this year, Ningbo Hanyi directly holds 35.23% of the company's shares, making it the controlling shareholder [2] Stock Performance - On July 10, the company's stock price hit the daily limit, closing at 13.71 yuan per share, with a trading volume of 394 million yuan and a total market capitalization of approximately 5.498 billion yuan [3] Financial Performance - The company reported net profits for the years 2020 to 2024 as follows: approximately 344 million yuan, 282 million yuan, 336 million yuan, 180 million yuan, and a loss of 46.1 million yuan [5] - The company has indicated that its net profit for 2024 is expected to decline due to a strategy of lowering prices without compromising quality, which affects gross margins [5] Industry Context - The snack food industry is currently experiencing intense competition and channel transformation, with the top five brands holding less than 20% market share and frequent price wars due to severe product homogeneity [5] - The rapid expansion of snack retail stores is impacting traditional sales channels [5]