Core Insights - The article highlights the significant growth of snack brands like Three Squirrels and Qiaqia on the Pinduoduo platform, with projected GMV reaching 800 million this year, marking a doubling compared to 2023 [1][2] - Brands are shifting their focus from traditional e-commerce platforms to Pinduoduo, driven by the need for new growth avenues as traditional platforms face stagnation [2][7] - Consumer behavior is evolving towards a preference for quality-price ratio rather than just low prices, aligning with brands' strategies to enhance average transaction values and expand mid-to-high-end products [3] Brand Strategy Shift - Brands are adapting their strategies to fit the unique characteristics of Pinduoduo, launching exclusive products tailored for the platform [4][5] - Qiaqia has developed unique flavors like "Coriander Sunflower Seeds" specifically for Pinduoduo, leveraging the platform's recommendation algorithms to reduce operational complexity [4] - Three Squirrels focuses on cost reduction through simplified packaging and direct shipping methods, which enhances efficiency and lowers logistics costs [5][6] Performance and Growth - The transition to Pinduoduo has resulted in tangible performance improvements, with brands like Qiaqia achieving significant sales growth, including a new product generating over 200,000 in GMV within two weeks [7] - Pinduoduo serves as an effective testing ground for new product categories, with Qiaqia's canned pistachios achieving substantial sales after being launched on the platform [7] - The platform's support policies, including subsidies and promotional resources, have lowered operational barriers for brands, fostering a positive cycle of growth [8]

Core Viewpoint - The snack giant Qiaqia Foods has demonstrated stable performance in its third-quarter report, driven by new product launches and channel expansions [1][2] Financial Performance - In the first three quarters of this year, Qiaqia Foods achieved a revenue of 4.501 billion yuan and a net profit of 168 million yuan. For the third quarter alone, the revenue was 1.749 billion yuan with a net profit of 79.36 million yuan [2] - The company's R&D expenses for the first three quarters reached 62.788 million yuan, marking a significant increase of 33.12% compared to 47.166 million yuan in the same period last year, indicating a commitment to product innovation [2] Product Development - Qiaqia Foods has launched several new products that have shown strong sales potential, including the Yunnan walnut milk, konjac products, and cilantro-flavored sunflower seeds, which have performed well across various platforms [4][6] - The company is focusing on health-oriented and functional upgrades in its product lines, such as the all-nut series that emphasizes 100% pure nuts with no additives, catering to consumer demand for healthier options [6][9] Channel Expansion - The company is actively expanding into new channels such as snack wholesale stores, membership stores, and instant retail, which has led to an increase in direct sales channels [3][8] - Qiaqia Foods has seen a steady increase in sales through its new channels, with significant growth in the snack wholesale channel and improved performance in the Sam's Club channel [8] Brand Development - Qiaqia Foods has been recognized as one of the "Top 500 Asian Brands," with a brand value of 56.872 billion yuan, and is enhancing its brand image through various consumer engagement activities [11][13] - The company has established a strong supply chain and brand effect, which are crucial for maintaining its competitive edge in the fast-moving consumer goods industry [13]

Core Insights - Company plans to launch a new sesame-flavored konjac product in October and aims to expand its konjac product distribution channels [1] - Positive feedback from online sales indicates potential for significant growth, particularly for the konjac products [3] Group 1 - The company announced the upcoming launch of its sesame-flavored konjac product in October [1] - There is a focus on accelerating the expansion of konjac products in various distribution channels [1] - The company appreciates investor feedback and intends to relay suggestions to management and product departments [1] Group 2 - Recent online products have shown strong sales potential, with konjac products ranking second in sales on Douyin [3] - Customer feedback indicates a desire for improved packaging, suggesting a shift from plastic bags to boxes for better delivery experience [3] - The company is encouraged to enhance offline distribution of konjac products and develop new sesame-flavored options to capitalize on market opportunities [3]