Recently, BESTORE announced important information: through the ** plan announced on December 30, 2023, its second largest shareholder, Dayong***, has completed a total of 78950,000 shares of **, accounting for 1 of the total number of shares of BESTORE97%。
In addition, BESTORE's wholly-owned subsidiary filed a lawsuit with the court over the problems with Zhao Yiming's snack project, which involved serious infringement of minority shareholders' right to know.
It is worth noting that BESTORE also announced the implementation of the largest ** adjustment policy in 17 years, but according to market feedback, this measure has not been widely recognized by consumers. In addition, the capital market has also developed a skeptical attitude towards BESTORE.
In addition, in addition to Dayong Co., Ltd., four other companies, Ningbo Hanliang Qihao Investment Management Partnership (hereinafter referred to as "** shareholders"), have also accumulated 60.15 million shares of ** BESTORE shares, accounting for 1 of its total share capital5%。After the end of this ** plan, these four companies hold a total of 243%。
The four companies in this series were acting in concert during the ** period, which runs from 9 June 2023 to 5 December 2023. Until February 24, 2023, the pre-launch restrictions will be lifted for the collection.
As another elite shareholder of BESTORE, Hillhouse Capital has frequently launched ** actions since the lifting of the ban, accounting for 1167% has plummeted to the current 7Around 67%. BESTORE was successfully listed on the Shanghai ** Stock Exchange in February 2020, thus establishing its position as the "No. 1 stock of high-end snacks".
However, in recent years, in the face of changing trends in the snack consumption market, BESTORE, which relies heavily on traditional e-commerce channels, has failed to maintain stable performance, with an average of 21The 67% revenue growth rate is particularly noticeable in comparison.
During the period from 2010 to 2012, BESTORE's total online e-commerce business accounted for a percentage of its total revenue13% and 5042%。Despite the impact of the epidemic, BESTORE's revenue at the same stage still achieved its revenue of11% and 124% growth rate, with an average growth rate of 722%。
According to BESTORE's latest performance report, in the first three quarters of 2023, its revenue was approximately RMB599.9 billion yuan, down 14 percent from the same period last year33%；Net profit attributable to the parent company was approximately RMB19.1 billion yuan, a year-on-year decrease of 3343%。
The decrease in operating income from online channels and the increase in fixed costs were one of the main reasons for the decline in the company's performance.
BESTORE said in a public statement at the end of the third quarter that the company's sales performance fluctuated due to factors such as "platform differentiation and user differentiation".
In the face of a variety of e-commerce platforms and the rapidly emerging mass snack industry, leisure snack brands such as BESTORE are facing severe challenges. At the same time, investment capital has poured into the mass snack market in emerging areas. In the past few years, Snack is very busy, and has successfully attracted capital injection from many companies such as Miss You and Yanjin Shop, as well as well-known investment institutions such as Sequoia China and Gaorong Capital.
With the recent years"Affordable alternatives"BESTORE, which is known for its high quality, has also begun to change its business strategy. Brands have lowered**, mainly to combat the fierce competition from snack discount stores.
For example, a bottle costs only 12 yuan of mineral water, a can of **1$9 for Coke as well as $45 yuan a bottle of Trensu milk, this kind of cheap ** is obviously more attractive to young people. Recently, expiring food has gradually become the first choice for a large number of young consumers. According to the estimated data of the National Bureau of Statistics, the size of China's expiring food market has now exceeded 80 billion yuan. According to the "2021 Chinese Expiring Food User Portrait" report released by iiMedia Consulting, the vast majority of middle-aged people aged 22 and 40 years old account for about 746%。
BESTORE revealed that nut snacks including macadamia nuts, pine nuts, pistachios, cashew nuts, etc., as well as meat snacks such as pork jerky, duck neck, barbecue sausages, and popular products with high repeat purchase rates such as chili strips, dried tofu, bun pastries and sunflower seeds are the key targets for significant price reductions.
Macadamia nuts (400 grams), for example, drop to 29 per can9 yuan, the member price of roasted purple cashew nuts (500 grams) has dropped to 49 per can$9. After the adjustment, nut products such as macadamia nuts, pine nuts and almonds have been reduced by up to 40%. After the **downgrade, some of the popular snacks** of BESTORE are even lower than 9$9. For example, the price of classic pork jerky is 65 yuan per catty after the price reduction.
It is worth mentioning that the ** of BESTORE toast and small bags of crispy winter dates are close to or equal to the level of the same type of products online.
However, in the first three quarters of this year, BESTORE's revenue and net profit attributable to the parent company both fell sharply. Among them, the operating income of BESTORE was 599.9 billion yuan, a year-on-year decrease of 1433%。
Net profit attributable to the parent company was only 19.1 billion yuan, a year-on-year increase of **3343%。Also affected is Laiyifen, which had a total revenue of 30 percent for the first three quarters0.2 billion yuan, down 761%；The net profit was only 454280,000 yuan, but it fell 93 from the same period last year57%。
Looking at the three squirrels, the total revenue in the first three quarters was 458.2 billion yuan, down 1407%；But the net profit is more than 17 billion yuan, an increase of 81 percent year-on-year42%。At this year's interim results conference, BESTORE made it clear that the overall profit margin in its snack food segment remained almost unchanged.
Overall, the situation of BESTORE has become extremely difficult this winter, but there is no doubt about it"by price"It has become a mainstream consumer trend, and BESTORE must show more sincerity in order to regain the trust of consumers.