扬子晚报网12月30日讯（记者 万凌云 姜天圣）近日，江苏一名大学生发文称，自己点了30元外卖，因食物完全冰冷无法食用申请退款后，遭到商家的辱 骂其中不乏"你这种人还上什么学祝你出校门早点*""妈没给你生好你就回炉重造"等恶劣言论。此外，该学生还称自己遭到电话骚扰，对方在电话中进行 持续辱骂。学生在帖文中附上了订单截图和短信对话记录作为证据，涉事店铺被曝光为墨鸭黑鸭王镇江江苏大学店。 买家评价 扬子晚报/紫牛新闻记者在点评平台搜索该店铺，发现门店仅有4条评价，页面显示"该商户新增部分与体验无关的评论"，点开显示大量差评，有网友评 论，"下次不敢点了，怕他发短信骂我"、"早点倒闭吧"、"令人气愤"。还有网友写下了"推荐菜单"："嘴臭鸭脖"、"不卖学生卤猪蹄"…… 买家评价 在该店铺的外卖平台（注：外卖平台只有下单才可评价），有买家留言称遭到商家攻击：商家晒出了收款9.9元和25元的截图，并表示，"我也希望生意不 那么火爆呢，见过那么多钱吗孩子，一个月生活费有500吗够花吗"还有买家在今年8月称，"4个鸭爪，1个鸭爪还变鸡爪了，鸭爪（点）的是五香的，给的 是辣的小朋友没法吃"、有买家在今年7月评价"我要的是甜辣的 ...

一、监管下发正式处罚 绝味食品作为"鸭脖大王"备受消费者和投资者青睐，如今却因信息披露违法违规陷入困境。刚在9月， 公司就收到湖南证监局下发的《行政处罚决定书》。如今还需面临投资者索赔事宜。 上海沪紫律师事务所刘鹏律师提示目前维权征集正式开启，信符合于2018年4月16日-2024年8月15日 （含当日）期间买入，并在2024年8月16日之后卖出或仍持有而亏损的即可参与。（绝味食品维权入 口） 此次投资者索赔事宜也引起了市场广泛关注，众多受损投资者纷纷响应维权征集，期望通过合法途径挽 回自身损失，同时也希望以此促使上市公司更加规范运作，保障资本市场的健康稳定发展。 二、多年财报虚假记载 登录新浪财经APP 搜索【信披】查看更多考评等级 受损股民可至新浪股民维权平台登记该公司维权：http://wq.finance.sina.com.cn/ 关注@新浪证券、微信关注新浪券商基金、百度搜索新浪股民维权、访问新浪财经客户端、 新浪财经首页都能找到我们！ （本文由上海沪紫律师事务所刘鹏律师供稿，不代表新浪财经的观点。刘鹏律师，专注证券维权19年， 自2006年执业以来，成功为中青宝、国华网安、劲嘉股份（维权）等 30 ...

Core Insights - The article discusses the decline of the duck neck snack industry, highlighting the closure of 5,600 stores and the loss of consumer interest among young people [1] - Major brands like Juewei, Zhou Hei Ya, and Huang Shang Huang are facing significant challenges, including store closures, financial losses, and a drop in consumer trust [1][6] Group 1: Industry Overview - The duck neck snack was once a staple of nightlife, with brands rapidly expanding and attracting franchisees due to perceived profitability [1][3] - By 2019, the market began to saturate, leading to a decline in single-store revenue as competition increased [3] - In the first half of 2025, Zhou Hei Ya reported revenue of 1.223 billion, a decrease of 2.9% year-on-year, while Huang Shang Huang's revenue was 984 million, down 7.19% year-on-year [1] Group 2: Business Model Challenges - The franchise model initially appeared profitable due to upfront fees and bundled services, but market saturation led to diminishing returns for franchisees [3][8] - Zhou Hei Ya's focus on high-end locations resulted in high rental costs, making its business model vulnerable during economic downturns [3][6] - The number of franchise stores for Zhou Hei Ya decreased to 1,291 by the first half of 2025, indicating a contraction in its business [3] Group 3: Consumer Behavior and Market Trends - The menu offerings of these brands have remained stagnant, failing to innovate and attract younger consumers who prefer trendy and novel options [4][8] - Price increases have alienated consumers, as the cost of duck neck snacks has approached that of full meals, leading to a perception of reduced value [6][8] - The combination of quality control issues, lack of product innovation, and rising prices has contributed to a significant decline in brand loyalty and consumer interest [6][8] Group 4: Financial Impact - The combined revenue of the three major brands decreased by nearly 1 billion in the first half of 2025, reflecting a systemic contraction in the industry [8] - Juewei has faced severe financial issues, leading to its designation as ST (special treatment) in the capital market, with its market value evaporating by 80% from its peak [1][6] - Zhou Hei Ya has been forced to make layoffs and internal adjustments due to declining revenue and increased operational costs [6]

Core Viewpoint - The duck neck industry is facing a significant downturn, with major players like Daguo Duck Neck experiencing a sharp decline in revenue and profit, leading to a wave of store closures across the sector [1] Group 1: Company Performance - Daguo Duck Neck reported a 15.57% decrease in revenue over the past six months [1] - The net profit of Daguo Duck Neck plummeted by over 40% [1] - More than 5,000 stores have closed in the last 20 months [1] Group 2: Industry Trends - Competitors such as Zhou Hei Ya and Huang Shang Huang are also experiencing rapid shrinkage, with record-high store closures [1] - The overall decline raises questions about consumer interest in duck neck products [1]

Core Insights - The article highlights the growth and strategic transformation of Juewei Foods, a leading player in China's marinated food industry, emphasizing its extensive network of stores and efficient supply chain management [2][3][5]. Group 1: Business Model and Operations - Juewei Foods has established a nationwide network of over ten thousand stores, enabling fresh food delivery directly to consumers, which is a core competency that has contributed to its growth as a "marinated food giant" [2]. - The company operates a modern supply chain that connects franchisees with standardized operations and brand support, creating a stable chain from centralized production to local sales [3]. - As of mid-2025, Juewei's franchise committee system has linked over 3,000 franchisees, providing a community-based economic model that attracts many small investors and entrepreneurs [4]. Group 2: Strategic Focus and Market Trends - Juewei Foods is shifting its strategy from "broad expansion" to "deep exploration" of the marinated food sector, focusing on understanding consumer needs and preferences in a competitive market [5]. - The company has invested 24.7 million yuan in R&D during the reporting period, a 9.44% increase year-on-year, to enhance its product offerings and improve customer engagement [6]. Group 3: Social Responsibility and Investor Relations - Juewei Foods emphasizes social responsibility by establishing long-term partnerships with suppliers, stabilizing raw material prices, and contributing to rural revitalization efforts [7]. - Since its listing, the company has distributed a total of 2.364 billion yuan in cash dividends to investors, demonstrating its commitment to sharing growth benefits [7]. Group 4: Consumer Experience and Innovation - The company aims to provide consumers with a seamless shopping experience through a membership-centric model that integrates online and offline channels [8]. - Juewei Foods is committed to exploring new consumption trends and enhancing its service model to resonate with regional economic development [8].

Core Insights - The article highlights the growth and expansion of Juewei Foods, a leading player in the Chinese marinated food industry, which started in 2005 and has developed a nationwide network of over ten thousand stores [2][3] - Juewei Foods has shifted its strategy from broad expansion to deep exploration of consumer needs, focusing on enhancing product offerings and operational efficiency to adapt to changing market dynamics [5][6] Group 1: Business Model and Operations - Juewei Foods utilizes a robust supply chain and distribution network, ensuring fresh products reach thousands of stores daily, which is crucial for maintaining product quality [3][4] - The company has established a comprehensive franchise system that connects over 3,000 franchisees, creating job opportunities for nearly 40,000 individuals and supporting local economies [4][6] Group 2: Strategic Focus and Market Trends - The company is responding to the evolving consumer landscape by investing in product development, with a reported R&D expenditure of 24.7 million yuan, a 9.44% increase year-on-year, aimed at creating healthier and regionally customized products [7] - Juewei Foods is committed to social responsibility, engaging in initiatives that support rural revitalization and establishing long-term partnerships with suppliers to stabilize raw material prices [8][9] Group 3: Financial Performance and Shareholder Returns - Since its listing, Juewei Foods has distributed a total of 2.364 billion yuan in cash dividends, demonstrating its commitment to sharing growth with investors [8] - The company plans to distribute nearly 200 million yuan in cash dividends for the 2024 fiscal year, reinforcing its focus on shareholder returns [8]

Core Viewpoint - The article discusses the paradox of rising snack prices in China, where snacks that were once affordable are now perceived as luxury items, leading to a loss of "snack freedom" for consumers [5][10]. Group 1: Historical Context of Snack Consumption - In the past, consumers chose snacks based on taste and price, with little brand loyalty, often mixing various brands in their purchases [6]. - The rise of major snack brands like Liangpinpuzi and Three Squirrels around 2010 shifted consumer behavior towards brand recognition and loyalty, leading to a more concentrated market [6][7]. - Early competition among snack brands involved aggressive pricing strategies, including significant discounts and promotions to attract consumers [7]. Group 2: Shift to Premium Pricing - By 2019, Liangpinpuzi adopted a "high-end snack" positioning, linking product quality directly to pricing, which has led to significant price increases for similar products over the years [8]. - The change in pricing units from larger to smaller measurements has obscured consumers' perception of price increases, contributing to the feeling that snacks have become unaffordable [8][9]. - The emergence of high-priced snacks has resulted in a loss of the previously enjoyed "snack freedom," as consumers now feel priced out of the market [8][10]. Group 3: Market Response and New Trends - The rise of "white-label" snack stores offering high value for money has disrupted traditional snack brands, with the market for these stores growing from 211 billion yuan in 2019 to 809 billion yuan in 2023, reflecting a 40% compound annual growth rate [10]. - Traditional snack brands like Three Squirrels and Liangpinpuzi have faced declining revenues, with Three Squirrels' revenue dropping from over 10 billion yuan in 2019 to 7.1 billion yuan in 2023 [10][11]. - In response to market pressures, brands have attempted to lower prices, but these efforts have had limited success due to established negative perceptions of high pricing [11]. Group 4: Consumer Sentiment and Future Outlook - The article highlights a growing consumer sentiment against high prices that lack corresponding value, indicating a shift towards seeking better price-to-value ratios [14][15]. - Brands that fail to justify their high prices with tangible quality improvements risk losing consumer trust and market share [15][16]. - The future of the snack industry may depend on balancing premium offerings with consumer expectations for affordability and value, as the market moves away from a singular focus on high pricing [16].

Core Insights - The rising prices of snacks, particularly in the context of "light luxury" experiences, have led to a perception that everyday snacks are becoming unaffordable, with brands like "薛记炒货" and "么凤士多" exemplifying this trend [1][11][19] - The shift from a focus on taste and value to brand recognition and high pricing has created a disconnect between consumer expectations and actual product value, leading to a decline in "snack freedom" [2][5][10] Industry Evolution - The snack market has evolved from a diverse selection of local and unbranded products to a more concentrated market dominated by well-known brands like 良品铺子 and 三只松鼠, which have changed consumer purchasing habits [2][4] - The initial price wars among snack brands led to significant consumer benefits, but as brands established themselves, they began to increase prices, often without clear justification [4][5] Consumer Behavior - Consumers have increasingly associated brand names with quality, leading to a willingness to pay more for branded snacks, but this has also resulted in a backlash as prices have escalated beyond reasonable limits [5][10][18] - The emergence of "平价白牌" snack stores has highlighted a shift back towards value-driven purchasing, with these stores rapidly gaining market share by offering competitive pricing [8][10] Financial Performance - The financial performance of traditional snack brands has declined, with 三只松鼠 and 良品铺子 experiencing significant revenue drops, indicating a potential market correction as consumers seek better value [10][11] - 良品铺子 has initiated a major price reduction strategy in response to declining sales, but the effectiveness of this strategy remains uncertain as consumer perceptions of high pricing linger [10][11] Market Trends - The snack industry is witnessing a trend where high pricing is often mistaken for high quality, leading to a "high-end disease" where brands fail to provide tangible value for their elevated prices [12][19] - The industry's focus on high pricing without corresponding value has led to a growing consumer demand for transparency and justification of costs, indicating a shift towards more rational purchasing behavior [18][19]

Core Viewpoint - A new individual business named "Ladehen Duck Neck Shop" has been established in Ningdu County, with a registered capital of 10,000 RMB, focusing on small-scale food operations and sales of pre-packaged food [1] Company Summary - The legal representative of the newly established shop is Xie Zhuying [1] - The business is registered under the category of individual business and has a registered capital of 10,000 RMB [1] - The shop's operational scope includes licensed projects such as small catering, small grocery, and food workshop operations, which require approval from relevant authorities [1] Industry Summary - The general project of the business includes the sale of food, specifically limited to pre-packaged food items [1] - The business is allowed to operate independently based on its business license, except for projects that require legal approval [1]

Core Points - The rapid development of chain restaurant operations in China has raised significant food safety concerns among the public [1] - Recent food safety scandals involving several chain restaurant brands have highlighted major regulatory gaps in food safety management [1] - The introduction of new regulations by the State Administration for Market Regulation emphasizes the responsibility of chain restaurant headquarters in ensuring food safety [2] Summary by Sections Industry Overview - Chain restaurant operations in China are diversifying with various models such as direct operation, joint ventures, franchising, and specific store-type franchises [1] - Food safety issues have become a pressing concern, with multiple incidents reported in 2023 involving well-known brands [1] Regulatory Changes - The newly released regulations shift the focus from reactive punishment to proactive prevention, real-time control, and accountability in food safety management [2] - Headquarters of chain restaurants are designated as the primary responsible parties for food safety, requiring them to allocate a portion of their revenue annually for food safety management [2] Market Implications - The regulations signal a transformation in the Chinese restaurant industry from quantity expansion to quality assurance, emphasizing the importance of internal control and product quality [2] - Successful global chain restaurants prioritize standardization, safety, and brand reputation, which are now becoming essential for Chinese restaurants to gain consumer trust [2]