业绩不佳的桃李面包（603866）(603866.SH)，正在调整内部持股比例。 10月10日晚间，桃李面包公告，因家庭资产规划需要，公司控股股东及实际控制人吴志刚将通过大宗交 易方式，向其配偶盛雅莉转让股份合计不超过3199.44万股，占公司股份总数的2%。 需要注意的是，公告还显示，吴志刚长子吴学东拟最高减持其所持的189股。吴学东将"清仓"所持桃李 面包股份，按公告日收盘价计算可套现约1038元，由此其或与上市公司再无"瓜葛"。此前，桃李面包公 告，吴学东在公司未担任任何职务，且吴学东本人无意愿继续参与公司日常经营及具体事项的表决。 桃李面包是一家典型的家族企业，创始人吴志刚1995年开始创立桃李面包，彼时已60岁。 2019年，84岁的吴志刚退休，其三儿子吴学亮接任董事长，大儿子吴学东任董事，二儿子吴学群任总经 理。 最新一届董事会名单中，吴学亮、吴学群依旧担任桃李面包董事长和总经理，吴学东已不是董事。 业绩方面，长江商报记者注意到，桃李面包营业收入已连续一年半下降，净利润已连续四年半下降。而 且，桃李面包的营业收入在连续四年超过60亿元后，2025年或难达60亿元门槛。 实控人转让股份市值1.76亿 ...

Core Viewpoint - The baking industry is experiencing significant performance divergence, with some companies like Tao Li Bread facing substantial profit declines while others like Li Gao Food are showing steady growth [1][4][14]. Group 1: Company Performance - In the first half of the year, the total revenue of nine listed baking companies in A-shares was approximately 11.03 billion yuan, with a net profit attributable to shareholders of about 595 million yuan [1][4]. - Tao Li Bread, known as the "first stock of bread" in A-shares, reported a net profit of approximately 204 million yuan, a year-on-year decline of 29.7% [2][6]. - The revenue of Tao Li Bread was about 2.61 billion yuan, down 13.55% year-on-year, with a net profit excluding non-recurring gains and losses of approximately 194 million yuan, a decline of 30.03% [6][7]. Group 2: Industry Challenges - The baking industry is facing severe challenges, with trends moving towards chain operations, segmentation, and health-oriented products, emphasizing high cost-performance and differentiated competition [3][14]. - The competition is intensifying, with new entrants in the short-shelf-life bread and general baking products market, leading to increased promotional costs and pressure on profit margins [9][18]. Group 3: Regional Performance - Tao Li Bread's revenue declined across all regions except for the Central China region, indicating a widespread downturn in sales performance [7]. Group 4: Cost and Pricing Pressures - Companies are experiencing pressure from rising costs and sensitivity to end prices, making it difficult to raise prices without impacting profit margins [18]. - The operational challenges include decreased foot traffic and average transaction value in direct sales channels, contributing to revenue declines [10]. Group 5: Food Safety Concerns - Food safety has become a recurring theme in the financial reports of baking companies, with several firms, including Tao Li Bread, facing scrutiny and complaints related to product quality [19][20][25].

Group 1 - The controversy surrounding the advertisement for "Peach Li Egg Mooncake" highlights the disconnect between the company's marketing approach and consumer sentiment, leading to public backlash [1][3] - Peach Li's recent financial report indicates a decline in both revenue and profit, with a revenue of 2.611 billion yuan, down 13.55% year-on-year, and a net profit of 204 million yuan, down 29.7% [3] - The company's marketing expenses have significantly increased, with advertising costs reaching 42.96 million yuan in the first half of 2025, a rise of over 40% compared to the same period in 2024 [4] Group 2 - There are concerns regarding the quality of Peach Li's products, as indicated by a recent food safety inspection that found non-compliance in one of its products, highlighting a potential disconnect between increased marketing spending and product quality [6] - The incident serves as a reminder for food brands that maintaining product quality is essential for long-term success, regardless of marketing efforts [6] - The company must balance its marketing strategies with a commitment to food safety and quality to regain consumer trust and favor [6]

Core Viewpoint - The controversy surrounding the advertisement of Taoli Bread's "Egg Mooncake" product highlights the challenges of marketing strategies that attempt to resonate with diverse consumer experiences, particularly when they may inadvertently offend or alienate certain demographics [1][6]. Group 1: Advertisement Controversy - The advertisement for Taoli Bread's "Egg Mooncake" included a phrase suggesting that those who dislike the five-nut flavor have not yet experienced life's hardships, which sparked backlash on social media [1][3]. - Consumers criticized the ad for being insensitive, with comments indicating confusion over why purchasing mooncakes should involve references to suffering [3][4]. - Following the backlash, Taoli Bread removed the controversial advertisement and the product from its online store, indicating a swift response to consumer feedback [6][4]. Group 2: Company Background and Financial Performance - Taoli Bread, established in 1997, operates as a comprehensive bakery company with over 31,000 retail terminals across China and has been publicly listed since December 2015 [7][9]. - The company's financial performance has been under pressure, with a reported revenue of 1.26 billion yuan from mooncakes in 2024, accounting for approximately 2.07% of total revenue, and both production and sales volumes showing a double-digit decline compared to the previous year [9]. - In the first half of 2024, Taoli Bread's revenue fell to 2.611 billion yuan, a year-on-year decrease of 13.55%, while net profit dropped by 29.7% to 204 million yuan, attributed to increased depreciation costs and higher advertising expenses [9][10].

针对桃李面包"桃李蛋月烧"月饼电梯广告争议，9月5日，桃李面包官方账号发文表示，"确实是领导拍的板，这个锅只能他来背，在此鞠躬道歉，他现在 正在接受'现实毒打'。从今天起，后续宣发正式由我们年轻人接管。批评我们都接受，反思也在进行中，态度端正，挨打立正。" 广告文案翻车，桃李面包道歉 近日，桃李面包一则宣传"桃李蛋月烧"月饼的电梯广告引发争议。9月4日，桃李面包相关负责人表示，涉事广告画面在上线一天后已下架。据此前社交平 台上流传的图片显示，桃李蛋月烧的电梯广告语为："有人说五仁不好吃，我们认为：那是因为你还年轻，还没饱尝过生活的毒打。桃李蛋月烧，等一个 有故事的人下单！" 这句广告语引发了消费者的不满，网友批评其为"爹味营销"和"PUA"式宣传。 官网信息显示，桃李面包股份有限公司成立于1997年1月23日，前身是沈阳市桃李食品有限公司，主要经营面包、糕点，以及月饼、粽子等季节性产品， 是一家烘焙食品生产、加工、销售的综合性公司。截至目前，公司拥有35家子孙公司，已在全国市场建立起超31万个零售终端。 桃李面包于2015年12月22日在上海证券交易所上市，有着A股"面包第一股"之称。在产品营销广告翻车之际， ...

Core Viewpoint - The controversy surrounding the elevator advertisement for "Peach Li Egg Mooncake" led to an official apology from the company, acknowledging the backlash and committing to a change in their marketing approach [1][4][6]. Group 1: Advertisement Controversy - The advertisement claimed that those who dislike five-nut mooncakes are simply too young and have not experienced life's hardships, which sparked consumer outrage and accusations of "dad marketing" and "PUA-style promotion" [4][6]. - The advertisement was taken down within a day of its release due to the negative response, and the company expressed regret for the incident [4][6]. - The company stated that this was their first attempt at an open internal co-creation mechanism for advertising, which inadvertently led to the controversial version being published [6]. Group 2: Financial Performance - Peach Li Bread's revenue for 2024 was reported at 1.26 billion yuan, with mooncake sales accounting for approximately 2.07% of total revenue, indicating a minor impact on overall performance [10]. - The company experienced a significant decline in both revenue and profit in the first half of 2024, with revenue dropping by 13.55% to 2.611 billion yuan and net profit decreasing by 29.7% to 204 million yuan [10][11]. - Advertising and promotional expenses surged by over 40% in the first half of 2025 compared to the same period in 2024, reaching 42.96 million yuan [12]. Group 3: Stock Performance - The company's stock price has seen a dramatic decline of over 79% from its peak in 2020, falling from 27.31 yuan to 5.68 yuan, with a total market value dropping from 44 billion yuan to approximately 9.086 billion yuan [12]. - The stock has consistently underperformed, with declines of over 33% in 2021, 23% in 2022, 40% in 2023, and over 10% in 2024, along with a drop of over 12% in 2025 to date [12].

Core Viewpoint - The controversy surrounding the advertisement by Tao Li Bread reflects a disconnect between the brand's marketing approach and consumer expectations, highlighting the importance of respecting consumer sentiments in marketing strategies [8][11]. Group 1: Advertisement Controversy - Tao Li Bread's advertisement suggested that the dislike for five-nut mooncakes is due to youth and lack of life experience, which was perceived as condescending and manipulative by many consumers [1][3]. - The advertisement was quickly taken down after one day due to backlash, with the company acknowledging the misstep and apologizing for the unintended offense [8]. Group 2: Company Response and Strategy - A company representative stated that the advertisement was part of a new internal creative process involving employees of various ages, aiming to resonate with a diverse audience, but one version sparked significant controversy [8]. - The company has committed to improving its review mechanisms to balance creativity with careful oversight to prevent similar issues in the future [8]. Group 3: Financial Context - Tao Li Bread's financial performance has been under pressure, with a reported revenue of 2.611 billion yuan (down 13.55% year-on-year) and a net profit of 204 million yuan (down 29.7% year-on-year) for the first half of 2025 [11]. - Despite the decline in revenue and profit, advertising expenses increased by 40% to 42.96 million yuan, indicating a potential misalignment between marketing investments and consumer reception [11]. Group 4: Consumer Sentiment and Market Reaction - The backlash against the advertisement is seen as part of a broader trend where brands fail to respect consumer perspectives, similar to past incidents with other companies [11]. - Observers note that the controversy reflects deeper issues of brand transformation and the need for genuine empathy in marketing, emphasizing that respect for consumer dignity should be paramount [11].

Core Viewpoint - The recent controversial advertisement by Tao Li Bread has sparked significant backlash on social media, leading to the removal of the ad and raising questions about the company's marketing strategies [1][3][4]. Group 1: Advertisement Controversy - The advertisement for the "Egg Mooncake" product included a phrase suggesting that those who dislike the five-nut flavor have not yet experienced life's hardships, which was met with criticism from consumers [1][3]. - Following the backlash, Tao Li Bread's customer service confirmed that the advertisement was taken down and that the five-nut flavor was no longer available for purchase [3][4]. - The company acknowledged the controversy and expressed regret, stating that the ad was part of a new creative approach involving contributions from employees of various ages [4]. Group 2: Financial Performance - Tao Li Bread's revenue for 2024 was reported at 1.26 billion yuan, with mooncake sales accounting for approximately 2.07% of total revenue, indicating a minor impact on overall performance [5]. - The company experienced a decline in both revenue and profit in the first half of the year, with total revenue of 2.611 billion yuan, down 13.55% year-on-year, and a net profit of 204 million yuan, down 29.7% [5]. - The significant drop in net profit was attributed to increased depreciation costs from new projects and higher advertising expenses [5][6]. Group 3: Market Position - Tao Li Bread, established in 1997 and listed on the Shanghai Stock Exchange in 2015, is recognized as the "first stock of bread" in A-shares, operating over 310,000 retail terminals nationwide [5]. - As of the latest market data, the company's stock price was reported at 5.68 yuan, with a market capitalization of 9 billion yuan [7].

Core Viewpoint - The advertisement by Peach Li Bread (603866.SH) has sparked controversy due to its insensitive wording, leading to public backlash and the subsequent removal of the ad [1][3][6]. Group 1: Advertisement Controversy - The advertisement for the "Egg Mooncake" product included a phrase suggesting that those who dislike the five-nut flavor have not yet experienced life's hardships, which many consumers found offensive [1][3]. - Following the backlash, Peach Li Bread deleted the controversial advertisement and consumer comments expressing dissatisfaction [3][6]. - The company acknowledged the issue, stating that the ad was part of a creative initiative involving employees from different age groups, but one version led to significant controversy [6][7]. Group 2: Financial Performance - Peach Li Bread's revenue for the first half of 2024 was reported at 2.6 billion yuan, a year-on-year decline of 13.55%, with net profit dropping by 29.7% to 204 million yuan [8]. - The mooncake segment contributed only 1.26 billion yuan to total revenue, accounting for approximately 2.07% of the company's overall earnings, with production and sales volumes declining significantly [7][8]. - The company has increased its advertising and promotional expenses by over 40% in the first half of 2025 compared to the same period in 2024, amounting to 42.96 million yuan [9]. Group 3: Market Position - Peach Li Bread, established in 1997 and listed on the Shanghai Stock Exchange in 2015, is recognized as the "first stock of bread" in A-shares, operating over 310,000 retail terminals nationwide [7]. - The company's stock price recently closed at 5.68 yuan, with a market capitalization of 9 billion yuan [9].

Core Viewpoint - The recent elevator advertisement by Tao Li Bread featuring a controversial message about its Five Nut Mooncake has sparked significant public debate, leading the company to remove the ad following customer feedback [1][4]. Group 1: Advertisement Controversy - The advertisement claimed that those who dislike Five Nut Mooncake are simply too young to appreciate it, which drew criticism from social media users [1][3]. - Following the backlash, Tao Li Bread's customer service confirmed that the advertisement has been gradually taken down [4]. Group 2: Product Issues - In July, Tao Li Bread publicly apologized for the non-compliance of its "Chun Shu Sliced Bread" in a food safety inspection, where the total bacterial count exceeded national standards [4]. - The company took immediate corrective actions, including product recalls and enhanced quality control measures for online sales [4]. Group 3: Company Background - Tao Li Bread Co., Ltd. was established on January 23, 1997, and specializes in the production and sale of baked goods, including bread, pastries, and seasonal products like mooncakes [5]. - The company operates 35 subsidiaries and has established over 310,000 retail terminals across the country [5].