Three Squirrels Co., Ltd.

Three Squirrels Co., Ltd. (SZSE: 300783) is a leading Chinese internet snack food company headquartered in Wuhu, Anhui Province. Established as a prominent online snack food brand, the company has evolved into a major industry player with approximately 3,000 employees and operations spanning over 500 cooperative factories, 3 owned production facilities, and 200+ offline retail locations nationwide. The company reported 2024 revenue of approximately RMB 55 billion, representing year-over-year growth of 8.5%. The company's brand heat score of 76/100 underscores its significant market presence and consumer recognition in China's competitive snack industry.

Core Business

Three Squirrels operates primarily as a brand operations company with a 70% brand and 30% in-house production model. Nuts and Roasted Seeds form the core business, featuring Daily Nuts 750g (mixed nut blend), Charcoal-Roasted Cashews (special braised recipe), and Pecan Pieces in milky and salted egg yolk flavors. Healthy Snacks have become a significant growth category, including High-Fiber Nut Bars, Freeze-Dried Fruits, Probiotic Daily Nuts (fortified with BC30 probiotics), 7-Day Fresh Fruit Crisps (FD freeze-drying technology), and Low-GI Chickpea Crisps. The company also produces Vegetarian Soy Products as part of its plant-based snack portfolio.

Global Presence

Three Squirrels operates primarily within the Chinese market with operations spanning all provincial regions. The company partners with over 500 cooperative factories across China to manage production capacity while maintaining 3 owned production facilities for core product lines. Retail presence includes 200+ offline store locations nationwide, complementing dominant e-commerce channel operations. The company's B2C-focused business model primarily serves Chinese consumers through major e-commerce platforms.

Key Strengths

Three Squirrels' core competitive advantages include internet marketing expertise, brand IP development, and supply chain integration capabilities. As a pioneering internet snack food brand in China, the company has built strong consumer recognition through effective digital marketing and brand personality development. The company's extensive cooperative factory network provides scalable production capacity while maintaining quality control over key product categories. Strategic focus on health-oriented products with functional benefits, including probiotics and low-GI formulations, positions the brand well for growing consumer demand for nutritious snacks.