Core Viewpoint - The company, 百果园, is facing significant challenges due to rising consumer complaints about high fruit prices and declining financial performance, leading to a reevaluation of its business strategy [2][3][12]. Financial Performance - In 2024, 百果园 reported revenue of 10.273 billion yuan, a year-on-year decline of 9.8% [3][5]. - The gross profit dropped to 760 million yuan, down 41.9% year-on-year, and the company recorded a net loss of 386 million yuan [3][5]. - The number of stores decreased by 965, averaging 2.64 closures per day, resulting in a total of 5,127 stores by the end of 2024 [3][7]. Market Position and Strategy - 百果园 initially aimed to position itself as a high-end fruit retailer, with about 70% of its products classified as mid-to-high-end [5]. - The company has begun to shift towards a "cost-performance" strategy in response to market competition and consumer demand changes, launching initiatives like the "Good Fruit Reward" campaign [12]. - Online sales reached 3.538 billion yuan in 2024, a 13.7% increase year-on-year, accounting for 34.4% of total sales, up from 29.6% in 2023 [12]. Consumer Perception and Issues - Consumer sentiment has turned negative, with complaints about high prices and quality issues, leading to nearly 3,000 complaints on the Black Cat Complaint platform [11]. - Food safety concerns have emerged, with reports of selling substandard products and improper handling practices, damaging the company's reputation [9][10]. Leadership and Future Outlook - Chairman 余惠勇's comments on not catering to consumer preferences have sparked controversy, raising questions about the company's approach to consumer education versus necessary changes [2][13]. - The ambitious goal of achieving over 100 billion yuan in revenue and expanding to over 10,000 stores in the next decade now appears increasingly difficult to achieve [8].