# margin squeeze

“Jelly King” Qinqin Foods Reverts to Loss as Core Product Slumps and Margins Squeeze

Qinqin Food Group, known as the “Jelly King,” has issued a 2025 profit warning and expects a small net loss after a fragile recovery in 2024. The reversal stems from falling traditional‑channel jelly sales that reduced scale benefits and a mix of one‑off property gains and impairments, underscoring structural challenges for legacy snack brands in China.