Core Viewpoint - The domestic consumption market in China is showing signs of weak recovery in the first half of 2025, with retail sales of consumer goods reaching 24,545.8 billion yuan, a year-on-year increase of 5.0%, but still facing pressure due to insufficient domestic demand [1] Company Performance - Wei Long's revenue grew by 18.5% to 3.483 billion yuan in the first half of 2025, with profits also increasing by 18.5% to 736 million yuan, solidifying its leading position in the market [1] - The company declared an interim dividend of 0.18 yuan per share, with the total dividend amount accounting for about 60% of its net profit for the first half of the year, highlighting its strong dividend advantage [1] Market Trends - The snack and beverage market is undergoing a consumption upgrade that emphasizes both health and taste, with consumers increasingly seeking products that offer emotional value and health benefits [2] - Wei Long has adjusted its product structure to capture this trend, with a balanced income source and an increase in high-margin vegetable products, which now account for 60.5% of its revenue [4] Product Innovation - Wei Long continues to innovate within the traditional spicy strip category, launching new flavors to meet diverse consumer preferences and tapping into growth potential [3] - The company has also expanded its product line to include low-calorie, high-fiber konjac products, leading the trend in the konjac snack category [4] Channel Strategy - The retail channel landscape is undergoing significant changes, with online user growth plateauing and offline channels gaining new opportunities due to government support for the real economy [5] - Wei Long has implemented a "full-channel integration + scenario adaptation" strategy, achieving balanced revenue from online (336 million yuan) and offline channels (31.47 billion yuan) [5] Production Upgrades - The company has made significant strides in smart manufacturing, with a new self-developed konjac production line that doubles capacity and improves efficiency by 80% [6] - Wei Long has established a comprehensive food safety assurance system, enhancing brand trust and consumer confidence [6][13] Industry Outlook - The spicy snack market in China is expected to maintain strong growth, with a projected compound annual growth rate of 9.6% from 2022 to 2026, outpacing the overall food industry [14] - Wei Long is positioned to benefit from the increasing concentration in the industry, which may provide greater development space and market premium [14]

Core Insights - Wei Long Mei Wei Global Holdings Limited reported a total revenue of 3.483 billion RMB for the first half of 2025, reflecting a year-on-year growth of 18.5% [1] - The net profit for the same period also increased by 18.5% to 736 million RMB [1] - The board declared an interim dividend of 0.18 RMB per share, maintaining a payout ratio of nearly 60% [1] Revenue Breakdown - The main revenue streams for Wei Long Mei Wei consist of three categories: "seasoned noodle products" represented by the well-known "spicy strips," "vegetable products" represented by "konjac," and "bean products and others" [2] - Vegetable products emerged as a significant growth driver, with revenue increasing by 44.3% year-on-year to 2.109 billion RMB, accounting for 60.5% of total revenue [2] - The spicy snack market is projected to grow at a compound annual growth rate of 9.6%, while the segment for konjac products is expected to grow at 28%, significantly outpacing the industry average [2] Strategic Initiatives - The company is expanding its product matrix to meet consumer demand for healthier snack options, launching new products like the "sour and spicy seaweed" to enhance its vegetable product line [3] - Wei Long Mei Wei is transitioning from a "spicy strip leader" to a "spicy snack ecosystem builder," focusing on health-conscious trends by innovating and optimizing product formulations [3] - The company plans to continue its multi-category strategy, increasing investments in R&D, production, and marketing to enrich its spicy snack product line [3] Channel Expansion - Wei Long Mei Wei has adopted a multi-channel strategy, enhancing its online presence across major e-commerce platforms and engaging in new marketing methods like live streaming and short video promotions [4] - Online sales generated 336 million RMB, representing 9.6% of total revenue, while offline channels accounted for approximately 3.147 billion RMB, or 90.4% of total revenue [4] - The company has partnered with 1,777 offline distributors, enhancing its market penetration in key shopping malls, supermarkets, and convenience stores [4] Production Capacity - The company has unveiled its seventh-generation konjac production equipment, which is expected to double production capacity while reducing space requirements and improving quality [5] - The new facility, covering approximately 16,000 square meters, represents a significant upgrade in efficiency for the spicy snack sector [5]

Core Viewpoint - Wei Long Mei Wei (09985) reported a synchronized growth in revenue and net profit for the first half of 2025, achieving total revenue of 3.483 billion RMB, a year-on-year increase of 18.5%, and a net profit of 736 million RMB, also up by 18.5% [1] Group 1: Financial Performance - The gross profit for the period increased by 12.3% to 1.642 billion RMB, with a gross margin of 47.2% [1] - The company declared an interim dividend of 0.18 RMB per share, maintaining a payout ratio of nearly 60% [1] - Revenue from vegetable products surged by 44.3% to 2.109 billion RMB, accounting for 60.5% of total revenue [1] Group 2: Product and Market Strategy - The company launched several new products, including "Magic Tofu" with sesame flavor and "Spicy Beef" under the brand "Kiss Burn," to enhance flavor innovation and diversify the product portfolio [1] - The company aims to meet diverse and personalized consumer demands through these product innovations [1] Group 3: Brand and Channel Development - Wei Long Mei Wei is deepening brand penetration among young consumers through various online and offline activities, such as the "Spicy Challenge" in collaboration with Linli Lemon Tea [2] - The company is expanding its offline and online channel coverage, enhancing terminal execution capabilities, and improving service capacity and product availability through partnerships with distributors [2] Group 4: Production and Technological Advancements - The company is advancing automation upgrades and technological innovations in production facilities while accelerating the digital transformation of its business systems [2] - As of June 30, 2025, the company operates five factories and has signed an investment agreement to establish a new factory in Nanning, Guangxi, to support ongoing business development and expansion [2]

来源：市场资讯 8月14日晚间，卫龙美味（股票代码：9985.HK）2025年中期业绩出炉，数据显示，报告期内卫龙实现 总收入34.83亿元（人民币，下同），较去年同比增长18.5%。净利润约7.36亿元，同比上升18.5%，收 入与净利润均录得双位数增长。今年上半年，公司整体运营效能全面提升，核心品类呈双螺旋结构性增 长助力业绩持续稳健攀升，公司经营能力稳中上行，成长性充分彰显。 品类双螺旋强化业务韧性 海带或成"第三曲线" 2025年上半年，特别是二季度以来，外部不确定性影响加大。据汇丰环球投资研究发布2025年中经济观 察指出，全球经济或将面临更多下行压力，而中国经济韧性依旧。 在外部的韧性承托下，伴随消费升级、渠道变革与技术创新等多重驱动，中国休闲食品行业的市场规模 复合年增长率为4.8%，其中，辣味休闲食品市场年复合增长率达9.6%（CBNData《2025辣味休闲食品 行业报告》），头部品牌凭借规模效应和资源整合能力加速布局，作为行业领军企业，卫龙以其新鲜出 炉的中期业绩向市场展示出超强定力。 报告期内，卫龙深化落地多品类策略，公司产品矩阵持续获结构性完善。仅2025年上半年，卫龙先后推 出麻酱魔 ...

公告称，收入增长主要由于集团在报告期内持续加强全渠道建设和品牌建设，并优化渠道结构。 报告期内，该集团持续秉承"以工业化思维，让美食的原点价值最大化释放"的产品研发理念，聚焦创 新，深度开展消费者洞察，精 准捕捉市场需求，持续强化研发实力。公司坚信，产品力是发展根基， 是链接消费者、获取信赖并维系长期忠诚的核心。集团坚持多品类产品策略，从新产品、新口味、新工 艺、新包装等维度发力，拓展并丰富产品组合，提升产品品质，满足市场多元及个性化消费需求，驱动 产品力与市场需求匹配。 卫龙美味(09985)公布2025年中期业绩，总收入为约34.83亿元，同比上升18.5%;毛利约16.424亿元，同 比上升12.3%;公司拥有人应占溢利约7.33亿元，同比增长18%;每股基本盈利0.31元，拟派发中期股息每 股普通股0.18元。 ...

来源：市场资讯 公告称，总收入增长主要由于集团期内持续加强全渠道和品牌建设，并优化渠道结构，加上在收入增长 及积极提升供应链效率的因素驱动下，集团经营利润进一步提升所致。 特别声明：文中提及内容均来源于公开信息，不构成实质性投资建议，据此操作风险自担。 （来源：中宏网股票） 中宏网讯 8月14日晚间，卫龙美味$卫龙美味(HK9985)（09985）公布截至2025年6月30日止中期业绩， 集团期内收入34.83亿元（人民币，下同），同比增长18.5%；净利润同比增长18.5%至7.36亿元。每股 基本盈利0.31元；拟派中期股息每股0.18元，同比增加12.5%，派息比率约60%。 ...

人民财讯8月14日电，卫龙美味(09985.HK)8月14日晚间发布2025年中期业绩，上半年总收入34.83亿 元，同比增长18.5%；净利润7.36亿元，同比增长18.5%；每股基本盈利0.31元。公司拟派中期股息每股 0.18元，派息比率约60%。公司称，总收入增长主要由于集团期内持续加强全渠道和品牌建设，并优化 渠道结构，加上在收入增长及提升供应链效率的因素驱动下，集团经营利润进一步提升所致。 ...

Core Viewpoint - The company, Weilong Delicious Global Holdings Limited, reported strong financial performance for the first half of 2025, with significant revenue and profit growth despite challenges in the global consumer market [2][3]. Financial Performance - Total revenue for the first half of 2025 reached 3.483 billion RMB, representing an 18.5% year-on-year increase [2][3]. - Gross profit amounted to 1.642 billion RMB, up 12.3% from the previous year, although the gross margin decreased by 2.6 percentage points to 47.2% due to rising raw material costs [2][3]. - Net profit for the period was 736 million RMB, also reflecting an 18.5% increase, with a stable net profit margin of 21.1% [2][3]. Dividend Announcement - The company declared an interim dividend of 0.18 RMB per ordinary share, with a payout ratio of approximately 60%, expected to be paid on or around October 20, 2025 [3]. Product Strategy - The company maintains a multi-category product strategy, focusing on innovation and responding to consumer demand for new flavors and products [3][4]. - New product launches in the first half of 2025 included "Magic Tofu" with sesame flavor and "Spicy Beef" [3]. Brand Development - The company is enhancing brand penetration through various online and offline activities, targeting younger consumers [3][4]. - Collaborations with popular brands and influencers, such as the "Spicy Challenge" with Linli Lemon Tea, have been effective in reaching a broader audience [3]. Channel Strategy - The company is advancing its offline and online channel coverage, expanding terminal points and enhancing service capabilities [4]. - A comprehensive ecosystem is being built to ensure effective integration between online and offline channels, supporting the overall channel development strategy [4]. Operational Efficiency - The company is committed to upgrading production facilities and accelerating digital transformation across its business systems [4]. - Continuous improvement in organizational development and talent management is aimed at enhancing overall operational efficiency [4].

每经AI快讯，8月14日，卫龙美味(09985.HK)在港交所发布中期业绩报告，上半年收入约34.83亿元，同 比上升18.5%；净利润约7.33亿元，同比增长18%。 （文章来源：每日经济新闻） ...

卫龙美味(09985)发布公告，该公司将于2025年10月20日派发中期股息每股0.18元人民币。 ...