In the evening of 21 april, the 2025 annual report of the first “good food shop” for leisure snacks revealed that $5,486 million had been earned throughout the year, a decline of 23. 38 per cent over the same period; the net profit lost by shareholders in listed companies was $148 million, a loss of $4,610. 45 million over the same period of the previous year, an increase over the same period. The company proposes to find a gold dividend of $2. 49 (including taxes) per 10 shares. As at 22 april, the shop had reported $10. 16 per unit, a decline of 2. 59 per cent。
According to the annual report, 719 shops were closed in 2025, of which 537 were closed due to losses, 39 were actively optimised and only 112 were added underline shops throughout the year. In 2024, 794 companies were closed, with 205 new ones. Over 1,500 establishments were closed cumulatively over two years, compared with more than 300 new ones, the size of which fell sharply from about 3,300 at its peak in 2023 to 2107 at the end of 2025。
For the sharp decline in net profits in 2025, the shop explains in two respects in the annual newspaper. On the one hand, companies continue to optimize the structure of their outlets, and the proactive phase-out of inefficient ones leads to a decline in sales revenues, while lower prices for products and structural adjustments affect the māori rate. On the other hand, interest income and financial gains in 2025 were lower than in the previous year, and government subsidies were reduced, further reducing the profit margin。
It is the accelerated departure of key shareholders that echoes the continuous downward spiral of performance. On the evening of 13 april, the shop released a communiqué stating that the company's second-largest shareholder, daryong limited, intended to reduce its shares by no more than 3 per cent of the company's gross equity over the next three months. This reduction is estimated at approximately $124 million at the current closing rate of $10. 29 per share。
Dallong limited, the core investment platform under today's capital flag, has invested many times since 2011 in good goods shops through additional registered capital. Before being listed, dallong held a limited share of 33. 75 per cent of the good goods store, and the ipo share was diluted to 30. 3 per cent, the second largest shareholder in the company。
Since 2023, however, the movement has been limited. The data show that between may and november 2023, it had a reduction of 1. 04 million shares, with a total of 404 million yuan; in 2024, three intensive reductions cumulatively exceeded 27 million shares, with a total of about 380 million yuan; and between march and june 2025, with a further reduction of 4. 01 million shares. Over a period of two and a half years, the combined share was reduced by over 48 million shares, over 800 million yuan, and the shareholding ratio fell from 30. 3 per cent to 18. 16 per cent。
In addition, the shop is caught up in an interesting dispute over the transfer of controlling shares. Public reports indicate that, in august 2024, the holding shareholder of the good shop, ningboh, intended to find the guangzhou light industries group at a time when the debt was about to expire, intended to transfer part of the shares, but refused to sign a formal agreement at the end of september after a preliminary intention had been reached。
In may 2025, mr. Yang hongchun, one of the de facto controlrs of the shop, re-opened the acquisition in guangzhou with a view to completing the transfer by 8 june 2025 to resolve the debt crisis, but again failed on 27 may。
Ningbohan then moved to negotiate with yangtze guo, planning to transfer 29. 99 per cent of shares, and the wuhan city state council would become the new de facto controller. This operation prompted guangzhou light workers to sue ningbohan for non-compliance and to request the freezing of its holdings of 79. 76 million good shop shares (19. 89 per cent of total equity)。
However, the acquisition of wuhan state capital was ultimately not completed. According to the declaration of 16 october 2025, the terms of entry into force of the agreement on the transfer of shares with wuhan state capital were not fully achieved and were terminated on 15 october 2025。
According to the announcement of 17 december 2025 by the shop, guangzhou, which had intended to enter the country, changed its original intent from “continuation of performance” to “immediate resolution” of the core claim and demanded more than $20 million in damages for breach of contract. (concerned news: state failure, billions of losses in performance, 280 million overdue debts of stockholders in the shop)
In the face of deteriorating business conditions and complex equity disputes, the proletariat has stated in the annual newspaper that it will implement strategic focus and depth adjustments, proactively phase out inefficient stores, optimize product structures, build core individual products and increase operational efficiency。
