Core Insights - The "11.11" shopping festival has officially launched, marking the beginning of the peak consumption season in both online and offline retail markets. Consumer shopping motivations are shifting from impulsive buying to more precise selections, as evidenced by the explosive growth of multiple brands across major platforms like Tmall, JD.com, Douyin, and Pinduoduo [1][3] Group 1: Sales Performance - October Rice Field achieved significant sales during the "11.11" event, dominating various categories such as rice, grains, and dried goods. Their products, including the Seven-Color Brown Rice and Yellow Glutinous Corn, topped sales charts across multiple platforms [1][3] - The company reported a robust performance for the third quarter of the 2025 fiscal year, with revenue reaching between 1.74 billion and 1.82 billion yuan, reflecting a year-on-year increase of 25.7% to 31.5%. Operating profit surged to between 135 million and 150 million yuan, marking a year-on-year growth of 71.5% to 90.5% [3][5] Group 2: Strategic Direction - The company is transitioning from a reliance on rice to a broader product range, including leisure foods, aligning with changing consumer trends. This strategic shift is supported by a projected revenue increase to 6.994 billion yuan by 2027, with net profit expected to rise to 631 million yuan [5] - The company has established a comprehensive online and offline ecosystem, collaborating with over 40 major e-commerce platforms and expanding its presence in physical retail channels. This strategy aims to effectively reach target consumers [5] Group 3: Brand Positioning - The company is focusing on appealing to the younger generation, particularly Generation Z, by using relatable communication and engaging with their lifestyle. This approach aims to transform the brand from a mere "dining symbol" to a "lifestyle symbol" that resonates emotionally with young consumers [5][7] - The appointment of new-generation actor Ke Chun as a brand ambassador and the launch of a co-branded limited edition rice product exemplify the company's efforts to connect with younger audiences. This strategy is expected to enhance brand visibility and drive sales during the "11.11" festival [7]

Core Viewpoint - The report from Industrial Securities initiates coverage on October Rice Field (09676) with a "Buy" rating, projecting revenue for 2025/2026/2027 to be 6.864 billion, 8.097 billion, and 9.546 billion respectively, and net profit attributable to shareholders to be 606 million, 758 million, and 972 million respectively. The firm is optimistic about the company's revenue and profit elasticity in the mid-to-high-end rice and corn business under the health food trend [1]. Group 1: Company Overview - October Rice Field is a leading staple food company in China, with major business segments including rice, corn, miscellaneous grains and beans, and other products. In the first half of 2025, the company's revenue grew by 16.9% year-on-year to 3.06 billion, and adjusted net profit increased by 97.7% to 290 million. In the third quarter of 2025, revenue is expected to grow by approximately 25.7%-31.5%, with operating profit increasing by about 71.5%-90.5% [1]. Group 2: Revenue Structure and Product Strategy - In 2023, the revenue structure heavily relied on rice, which accounted for 79% of total revenue. However, with increased investment in other product categories, the revenue share of rice decreased to 67% in the first half of 2025. The company has focused on enhancing the brand influence of mid-to-high-end rice products, leading to a continuous increase in sales of premium rice, with the revenue from rice business growing by 21% year-on-year and gross profit increasing by 106% [1]. - Corn is emerging as a new staple food choice for consumers due to its low-fat characteristics, with the corn segment growing to become the company's second growth curve. In 2023, corn product revenue accounted for only 3%, but this increased to 14% in the first half of 2025. Additionally, the miscellaneous grains and other products, as well as dried goods and other products, each accounted for about 9% of revenue in the first half of 2025 [1]. Group 3: Channel Strategy - The effectiveness of the omnichannel strategy is evident, with the contribution of modern supermarkets and direct customer channels continuing to rise, becoming significant sources of revenue. In 2023, e-commerce platforms, as the main channel, accounted for 58% of revenue, while the share of online self-operated stores increased. The combined revenue share from modern supermarkets and direct customer channels rose significantly from 26% in 2023 to 35% in the first half of 2025 [2].

Core Viewpoint - The report from Industrial Securities initiates coverage on October Rice Field (09676) with a "Buy" rating, projecting revenue and net profit growth for 2025, 2026, and 2027, driven by the health food trend and the company's focus on mid-to-high-end rice and corn businesses [1] Group 1: Company Overview - October Rice Field is a leading staple food company in China, with major business segments including rice, corn, grains, beans, and other products [1] - In the first half of 2025, the company reported a revenue increase of 16.9% year-on-year to 3.06 billion yuan, with adjusted net profit rising 97.7% to 290 million yuan [1] - In the third quarter of 2025, revenue is expected to grow approximately 25.7%-31.5%, with operating profit increasing by about 71.5%-90.5% [1] Group 2: Revenue Structure and Product Strategy - In 2023, rice products accounted for 79% of total revenue, but this share decreased to 67% in the first half of 2025 due to the company's investment in other product categories [2] - The company has focused on enhancing its mid-to-high-end rice product offerings, leading to a 21% year-on-year revenue growth in rice business and a significant 106% increase in gross profit in the first half of 2025 [2] - Corn has emerged as a new staple choice for consumers, with its revenue contribution rising from 3% in 2023 to 14% in the first half of 2025 [2] - Other product segments, including grains, beans, and dried goods, each contributed approximately 9% to revenue in the first half of 2025 [2] Group 3: Channel Strategy and Performance - The company has seen positive results from its multi-channel strategy, with online sales accounting for 58% of total revenue in 2023, and the share of online self-operated stores increasing [3] - Revenue from modern supermarkets and direct customer channels has risen significantly, from 26% in 2023 to 35% in the first half of 2025, aided by partnerships with chains like Sam's Club [3] - Revenue from the distribution network has remained stable [3]

Core Viewpoint - October Rice Field is a leading and rapidly growing household food company in China, known for brands like October Rice Field and Chaihuo Dayuan, maintaining sales leadership in rice and corn [1] Group 1: Business Performance - The company reported Q3 2025 revenue of 1.74-1.82 billion yuan, a year-on-year increase of 25.7%-31.5%, and operating profit of 135-150 million yuan, up 71.5%-90.5% [1] - Revenue growth accelerated, driven by the launch of new products like corn juice packs and brown rice balls on Douyin, and strong performance in direct customer sales during the Mid-Autumn Festival [1][2] - The company’s operating profit increased by 81% in Q3 2025, with an operating profit margin of 8.0%, up 2.3 percentage points year-on-year, attributed to lower raw material costs and a shift towards higher-margin products [2] Group 2: Product and Channel Development - The company is expanding its product range and channel penetration, focusing on "staple food + snack food" strategy, with plans to deepen corn product offerings across all channels in 2025 [1] - New product launches include collaborations with popular actors and the introduction of various rice products in Sam's Club, enhancing brand recognition and channel partnerships [2] - The company’s products are increasingly available in offline channels like Hema, Tianhong Supermarket, and JD Convenience Stores, indicating a continuous improvement in offline momentum [2] Group 3: Future Outlook - The company is expected to enter a new growth phase, with projected revenues of 6.994 billion, 8.369 billion, and 9.836 billion yuan for 2025, 2026, and 2027, respectively, reflecting year-on-year growth rates of 21.73%, 19.67%, and 17.53% [3] - Net profit forecasts for the same years are 631 million, 796 million, and 974 million yuan, with significant growth rates of 208.62%, 26.23%, and 22.36% [3] - The company’s brand has premium pricing power, and as reliance on rice revenue decreases, a revaluation of the company’s overall value is anticipated [3]

截至月份: 2025年10月31日 狀態: 新提交 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 致：香港交易及結算所有限公司 公司名稱: 十月稻田集團股份有限公司 呈交日期: 2025年11月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 09676 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,068,153,150 | RMB | | 0.1 RMB | | 106,815,315 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 1,068,153,150 | RMB | | 0.1 RMB | | 106,815,315 | 本月底法定/註冊股本總額： RMB 1 ...

Core Viewpoint - CITIC Securities has issued a "Buy" rating for October Rice Field, projecting revenues of 6.994 billion, 8.369 billion, and 9.836 billion yuan for 2025, 2026, and 2027 respectively, with net profits of 631 million, 796 million, and 974 million yuan for the same years [1] Group 1: Financial Performance - The company reported third-quarter revenues between 1.74 billion and 1.82 billion yuan, representing a year-on-year increase of 25.7% to 31.5% [1] - Operating profit for the same period is expected to be between 135 million and 150 million yuan, showing a year-on-year growth of 71.5% to 90.5% [1] Group 2: Business Strategy and Market Position - October Rice Field is recognized as a leading and rapidly growing household food company in China, with well-known brands such as October Rice Field and Chaihuo Dayuan, maintaining leading sales in rice and corn [1] - The company started with rice and online channels, gradually expanding into other product categories and offline channels, successfully launching a popular corn product on Douyin in 2024 [1] - The company is diversifying its product offerings to include more ready-to-eat items, such as fruit corn kernels and instant corn segments, aligning with changing consumer trends towards snack foods [1] - In 2025, the company plans to deepen its corn category across all channels while continuing to expand in offline channels like Sam's Club and Pang Donglai, demonstrating strong growth momentum [1] Group 3: Brand and Market Recognition - The company's brand has premium pricing power, and its marketing capabilities are notable, distinguishing it from traditional basic agricultural product companies [1] - The overall value of the company is expected to be gradually recognized by the market as it reduces reliance on rice revenue and increases the share of offline channels [1]

Core Viewpoint - CITIC Securities has issued a "Buy" rating for October Rice Field (09676), projecting revenue and net profit growth for the years 2025, 2026, and 2027 [1] Financial Projections - Expected revenues for 2025, 2026, and 2027 are 6.994 billion, 8.369 billion, and 9.836 billion respectively, with net profits of 631 million, 796 million, and 974 million [1] - Third-quarter revenue is projected to be between 1.74 billion and 1.82 billion, representing a year-on-year increase of 25.7% to 31.5% [1] - Operating profit is estimated to be between 135 million and 150 million, showing a year-on-year increase of 71.5% to 90.5% [1] Company Overview - October Rice Field is recognized as a leading and rapidly growing household food company in China, with well-known brands such as October Rice Field and Chaihuo Dayuan [1] - The company maintains leading sales in rice and corn, initially focusing on rice and online channels, and is now expanding into other product categories and offline channels [1] Market Strategy - In 2024, the company successfully launched a viral corn product on Douyin, diversifying its product range beyond rice and aligning with changing consumer trends towards snack foods [1] - The company plans to deepen its corn category across all channels in 2025, while continuing to expand in offline channels such as Sam's Club and Pang Donglai, demonstrating strong growth momentum [1] Brand and Value Proposition - The company's brand possesses premium pricing power, and its marketing capabilities are notable, distinguishing it from traditional basic agricultural product companies [1] - The overall value of the company is expected to be gradually recognized by the market as it reduces reliance on rice revenue and enhances its offline channel presence [1]

Core Viewpoint - The company is poised for growth driven by health and convenience food trends, with a strategic focus on "staple + leisure food" and ongoing efforts in product diversification and channel penetration [1] Financial Performance - The company anticipates revenue for Q3 2025 to be approximately RMB 1.74 billion to 1.82 billion, representing a year-on-year growth of about 25.7% to 31.5% compared to Q3 2024 [1] - The expected operating profit for Q3 2025 is projected to be around RMB 135 million to 150 million, indicating a year-on-year increase of approximately 71.5% to 90.5% compared to Q3 2024 [1] Strategic Initiatives - The company is enhancing brand momentum through the "new rice season" marketing campaign and is accelerating the expansion into modern supermarket systems and direct customers [1] - The strategic layout includes the development of instant retail platforms to seize market opportunities and drive sustained growth [1]

Core Viewpoint - The company, 十月稻田, is poised for significant growth driven by health and convenience food trends, with strategic initiatives in product diversification and channel expansion [1] Financial Performance - For the third quarter of 2025, the company expects revenue to be approximately RMB 1.74 billion to RMB 1.82 billion, representing a year-on-year growth of about 25.7% to 31.5% compared to the third quarter of 2024 [1] - The operating profit for the same period is projected to be around RMB 135 million to RMB 150 million, reflecting a year-on-year increase of approximately 71.5% to 90.5% compared to the third quarter of 2024 [1] Strategic Initiatives - The company is focusing on a "main food + leisure food" strategy, enhancing brand momentum through integrated marketing activities during the "new rice season" [1] - There is an accelerated expansion into modern supermarket systems and direct customer channels, along with a strategic layout for instant retail platforms to seize market opportunities and drive sustained growth [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Shiyue Daotian Group Co., Ltd. 9676 自願公告 2025年第三季度最新業務情況 本公告由十月稻田集團股份有限公司（「本公司」），連同其附屬公司統稱「本集團」）自願刊 發，旨在告知本公司股東（「股東」）及潛在投資者本集團最新業務更新。 本公司董事會（「董事會」）謹此知會股東及潛在投資者，根據本集團現時可得資料所作出 之初步評估，得益於健康與便捷飲食趨勢帶來的發展機遇，本集團立足「主食+休食」進行 戰略佈局，在產品多元化與渠道滲透拓展等方面持續發力，本集團於2025年第三季度錄 得收入（未經審核或審閱）約人民幣1,740百萬元至人民幣1,820百萬元，較2024年第三季度 同比增長約25.7%至31.5%，經營利潤（未經審核或審閱）約人民幣135百萬元至人民幣150 百萬元，較2024年第三季度同比增長約71.5%至90.5%。 隨著「新米季」整合行銷活動開展，品牌勢能持續 ...