Core Viewpoint - The recent resurgence in revenue for Laoganma is attributed to founder Tao Huabi's return to the company, despite previous claims of her stepping back from operations [1][2]. Group 1: Company Performance - Laoganma achieved a revenue of 5.391 billion yuan in 2024, nearing its peak revenue of 5.403 billion yuan in 2020 [2]. - The company reported revenues of 5.26 billion yuan and 5.381 billion yuan in 2022 and 2023, respectively [2]. - Laoganma's products are sold in over 160 countries, with overseas revenue growth outpacing domestic industry averages, showing a year-on-year increase of approximately 30% in 2023 [7]. Group 2: Product and Market Insights - Laoganma offers over ten flavors of products, including spicy vegetables, flavored chicken, tomato chili sauce, and oil chili [2]. - The company maintains a significant market share, holding about 20% of the Chinese chili sauce market, which is more than the combined share of its second and third competitors [7]. - The demand for chili sauce is broad, attracting numerous new entrants into the market, with 5,723 existing chili sauce-related companies in China as of January 13 [8]. Group 3: Company History and Leadership - Tao Huabi, born in 1947, founded Laoganma in 1984, introducing a unique cooking method that led to the product's popularity [4]. - In June 2014, Tao Huabi exited the shareholder structure, with her sons Li Guishan and Li Miaoxing holding 49% and 51% of the shares, respectively [4][5]. - The company has a history of strict quality control, with significant actions taken against products that did not meet standards, including the destruction of 500 tons of product valued at over one million yuan [7].

Core Insights - Lao Gan Ma ranked 57th in the "Top 100 Enterprises in Guizhou 2025" with a revenue of 5.391 billion yuan in 2024, a slight increase of 0.18% from 5.381 billion yuan in 2023, marking three consecutive years of growth and nearing its historical peak of 5.403 billion yuan in 2020 [1] Company Overview - Lao Gan Ma, founded by Tao Huabi in 1984, is a leading producer of chili products in China, known for its unique cooking methods and a wide range of products including flavored doubanjiang and chicken oil chili [5] - The company has become a sales hotspot since mass production began in 1996 and is recognized as one of the largest chili product manufacturers in the country [5] - The brand has gained international recognition, being referred to as "Lao Gan Ma" on many foreign e-commerce platforms and even considered a luxury condiment in the U.S. market [5] Management Changes - Tao Huabi stepped back from the company in June 2014, with her sons Li Guishan and Li Miaoxing taking over the ownership, with Li Miaoxing as the actual controller [1] - Reports suggest that the company's revenue resurgence is linked to Tao Huabi's return to management, although the company denies any changes to its production processes or ingredients [1][2] Product Quality and Consumer Perception - The company has faced consumer complaints regarding changes in taste, attributed to potential shifts in raw materials, but company representatives assert that the original production methods and ingredients remain unchanged [2] - The official response indicates that any perceived differences in taste may be due to evolving consumer preferences rather than changes in the product itself [2] Marketing and Online Presence - Lao Gan Ma's official social media accounts show limited activity, with the last post on its WeChat account dating back to March 2022, and its Douyin account having no live streaming activity in the past year [2][3] - The brand initially leveraged live streaming for marketing but has since reduced its engagement in this area, relying on pre-recorded content featuring Tao Huabi [3]

Core Viewpoint - The recent discussion about "Laoganma changing its taste to save costs" has sparked significant debate among consumers, with some claiming changes in flavor and ingredients, while the company denies any alterations to its original recipe [2][3]. Group 1: Company Response - Laoganma's staff refuted claims of changing ingredients for cost-saving purposes, attributing any perceived taste differences to consumers' evolving preferences and individual taste variations [2]. - The company emphasized that its raw materials, production processes, and recipes have remained unchanged [2]. Group 2: Company Background and Performance - Founded in 1984 by Tao Huabi, Laoganma gained popularity for its unique cooking methods and has since expanded to produce over 20 product lines, including flavored doubanjiang and chili oil [2]. - In the "2025 Guizhou Top 100 Enterprises" list, Laoganma ranked 57th, with a reported revenue of 5.391 billion yuan in 2024, a slight increase of 0.18% from 2023, marking three consecutive years of growth [3]. - The company is close to its historical revenue peak of 5.403 billion yuan in 2020, with only a 0.12 billion yuan difference [3]. Group 3: Leadership and Strategic Changes - There are claims that the return of founder Tao Huabi to active management has contributed to the company's revenue recovery, although company representatives clarified that she has always been involved [3]. - After Tao Huabi stepped back in 2014, the company faced challenges, including a shift to cheaper Henan peppers, which altered the product's taste and led to consumer backlash, resulting in declining sales in 2017 and 2018 [3]. - In 2019, upon Tao Huabi's return to management, the company reverted to its original ingredients, which helped stabilize its performance [3].

Core Viewpoint - The recent controversy regarding the taste change of "Lao Gan Ma" has sparked discussions among consumers, with some claiming a difference in flavor and ingredients, while the company denies any changes to its recipe or raw materials [1][2]. Group 1: Company Response - Lao Gan Ma's staff refuted claims of changing ingredients for cost-saving purposes, attributing any perceived taste differences to consumers' evolving preferences and personal taste variations [1]. - The company emphasized that its raw materials, production processes, and recipes have remained unchanged [1]. Group 2: Company Background and Performance - Founded in 1984 by Tao Huabi, Lao Gan Ma gained popularity for its unique condiment production methods and became a sales hit after mass production began in 1996 [2]. - In the "2025 Guizhou Top 100 Enterprises" list, Lao Gan Ma ranked 57th, with a reported revenue of 5.391 billion yuan in 2024, a slight increase of 0.18% from 2023, marking three consecutive years of growth [2]. - The company is close to its historical revenue peak of 5.403 billion yuan in 2020, being only 0.12 billion yuan short [2]. Group 3: Leadership and Historical Context - There were rumors about Tao Huabi's return to the company, but staff clarified that she has always been involved, despite her stepping back from direct operations in 2014 [2]. - After Tao Huabi's withdrawal from the shareholder structure in 2014, her sons took over the majority of the shares, with Li Miaoxing being the actual controller [2]. - The company faced challenges in 2017 and 2018 due to a shift in raw materials from Guizhou to cheaper Henan peppers, which led to a decline in taste and consumer backlash, prompting a return to original ingredients in 2019 when Tao Huabi resumed operational control [2].