Core Viewpoint - The snack brand "Liuliu Mei," produced by Liuliu Guoyuan Group Co., Ltd., is attempting to go public again after six years, having previously withdrawn its A-share application in 2019 due to concerns over product singularity [1][2]. Company Overview - Liuliu Guoyuan, founded in Wuhu, Anhui, initially focused on pastry production before launching the "Liuliu Mei" brand in 2001 to meet the market demand for green plum products [1]. - The brand has expanded its sales to international markets, including Australia, Russia, Japan, and South Korea [1]. Financial Performance - The company has diversified its product offerings, with three main products—dried plums, plum jelly, and western plums—generating nearly 1.6 billion yuan in revenue, accounting for 99.5% of Liuliu Mei's performance [2]. - In 2024, revenue from dried plum snacks is projected to be 973 million yuan, representing 60.3% of total revenue; plum jelly is expected to generate 410 million yuan (25.4%); and western plum products are anticipated to bring in 224 million yuan (13.8%) [2]. Market Position - Liuliu Guoyuan ranks first in China's fruit snack industry with a market share of 4.9% in retail sales for 2024, and it holds a 45.7% market share in the natural jelly sector [2]. - The introduction of the low-calorie plum jelly product has become a new growth driver for the company, leveraging advanced preservation technology and natural ingredients [2]. Challenges - Despite the growth in plum jelly products, the company still relies heavily on dried plum products for revenue, indicating ongoing challenges in reducing dependence on a single product line [2].