CITIC SEC's Research Reports indicate that recent channel feedback shows the demand for Spring Festival snack stockpiling is better than other snack categories. It is expected that the demand for snack gifting during the Spring Festival in 2025 is likely to grow well. Tencent has recently begun to focus on the WeChat Small Store channel and gifting function, which will be Bullish for: 1) Snack companies with strong e-commerce channel operation capabilities; 2) Snack companies with strong product and brand strength. The improvement in short-term sales combined with the new WeChat Small Store channel will create Bullish investment opportunities in the snack Sector in the short term.