Core Viewpoint - Zhejiang Wufangzhai Industry Co., Ltd. reported a slight increase in revenue for the first half of 2025, but a significant decline in net profit, indicating challenges in maintaining profitability despite stable sales growth [2][3][19]. Company Overview and Financial Indicators - The company achieved operating revenue of CNY 1,591,680,509.20, a 0.66% increase compared to the same period last year [3][19]. - Total profit amounted to CNY 253,969,376.99, reflecting a 15.72% decrease year-on-year [3][19]. - Net profit attributable to shareholders was CNY 194,516,948.26, down 16.70% from the previous year [3][19]. - The company’s total assets reached CNY 2,858,008,023.63, a 26.54% increase from the previous year [3]. - The net asset attributable to shareholders was CNY 1,819,086,234.07, up 5.90% year-on-year [3]. Industry Development - The Chinese zongzi (sticky rice dumpling) market is projected to reach CNY 11 billion by 2025, with a growth rate of approximately 7%, driven by policy support for traditional industry upgrades and increasing consumer health awareness [4]. - The demand for low-sugar and low-fat products is rising, with 41% of consumers focusing on the health attributes of zongzi [4]. - The consumption scenario is shifting from seasonal to daily staple foods, with a 40% increase in repurchase rates for ready-to-eat zongzi in convenience stores [4]. Business Operations - Wufangzhai specializes in the research, production, and sales of glutinous rice-based foods, including zongzi, mooncakes, and other traditional Chinese delicacies, and operates under the mission of preserving and innovating Chinese cuisine [6][7]. - The company has established a comprehensive marketing network across China, with 496 stores as of June 30, 2025, including direct sales, partnerships, and franchises [6][9]. - The company operates two production bases in Jiaxing and Chengdu, focusing on high-quality, health-oriented products [8][9]. Financial Performance Analysis - The company’s operating costs increased by 7.59% to CNY 938,754,294.18, while sales expenses decreased by 2.50% [19]. - The net cash flow from operating activities was CNY 413,689,806.25, down 21.16% compared to the previous year [19]. - The company has implemented cost control measures, resulting in a reduction in management expenses by 13.52% [19]. Strategic Initiatives - The company is focusing on channel innovation and has strengthened partnerships with major retailers, leading to significant growth in direct sales channels [13]. - Wufangzhai is expanding its international presence, successfully entering markets in South Korea, the UAE, and Thailand [13]. - The company is enhancing its supply chain management and quality control systems to improve operational efficiency and product quality [14][18].

□适用 √不适用 第三节 重要事项 公司应当根据重要性原则，说明报告期内公司经营情况的重大变化，以及报告期内发生的对公司 经营情况有重大影响和预计未来会有重大影响的事项 | 浙江五芳斋实业股份有限公司2025 | 年半年度报告摘要 | | | | | --- | --- | --- | --- | --- | | 公司代码：603237 | 公司简称：五芳斋 | | | | | 浙江五芳斋实业股份有限公司 | | | | | | 浙江五芳斋实业股份有限公司2025 | 年半年度报告摘要 | | | | | 第一节 重要提示 | | | | | | 展规划，投资者应当到 www.sse.com.cn | 网站仔细阅读半年度报告全文。 | | | | | 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 | | | | | | 无 | | | | | | 第二节 公司基本情况 | | | | | | 公司股票简况 | | | | | | 股票种类 股票上市交易所 | 股票简称 股票代码 | 变更前股票 | | | | 简称 | | | | | | 上海证券交易所 | 五芳斋 603237 | - | ...

Meeting Overview - The 22nd meeting of the 9th Board of Directors of Zhejiang Wufangzhai Industrial Co., Ltd. was held on August 28, 2025, in a combination of in-person and communication methods [1] - The meeting was chaired by the Chairman, with the presence of the board secretary, supervisors, and senior executives, complying with relevant laws and regulations [1] Financial Report Approval - The board approved the proposal regarding the 2025 semi-annual report and its summary, confirming that the report accurately reflects the company's financial status, operating results, and cash flow for the first half of 2025 [1][2] - The proposal received unanimous approval with 9 votes in favor, 0 against, and 0 abstentions [2] Asset Impairment Provision - The board approved the proposal for asset impairment provision, which was conducted in accordance with accounting standards and company policies, ensuring an objective and fair reflection of the company's financial condition [2] - This decision aims to mitigate asset risks and ensure the reliability of accounting information, also receiving unanimous approval [2] Fund Utilization Report - The board approved the special report on the storage and utilization of raised funds for the first half of 2025, confirming compliance with relevant regulations and the company's management system [2][3] - The raised funds are stored in designated accounts, and there were no incidents of changing the purpose of the funds or harming shareholder interests, with unanimous approval from the board [3]

Meeting Overview - The 16th meeting of the 9th Supervisory Board of Zhejiang Wufangzhai Industrial Co., Ltd. was held on August 28, 2025, with all 5 supervisors present [1] - The meeting was chaired by the Chairman of the Supervisory Board, Hu Jianmin, and complied with relevant laws, regulations, and the company's articles of association [1] Resolutions Passed - The Supervisory Board approved the "2025 Half-Year Report and its Summary," confirming that the report's preparation and review processes met legal and regulatory requirements, and accurately reflected the company's financial status, operational results, and cash flows without any false statements or omissions [1][2] - The Supervisory Board also approved the "Special Report on the Storage and Use of Raised Funds for the First Half of 2025," stating that the use of raised funds complied with relevant regulations and did not harm shareholder interests, with disclosures being truthful and complete [2]

Core Viewpoint - Zhejiang Wufangzhai Industrial Co., Ltd. reported a revenue of 1.592 billion yuan and a net profit of 195 million yuan for the first half of 2025, demonstrating resilience amid changing consumer habits and macroeconomic challenges [2][3]. Financial Performance - The company achieved a revenue of 1.592 billion yuan and a net profit of 195 million yuan in the first half of 2025 [2]. - The company implemented a "cost reduction and efficiency enhancement" strategy, resulting in a significant decrease in various expenses compared to the previous year [3]. Business Strategy - Wufangzhai is focusing on optimizing its core business while gradually releasing the potential of emerging businesses [2]. - The company launched a short-shelf-life vacuum zongzi product to respond to market demands and trends [2]. - Wufangzhai is enhancing brand building with 22 dual-brand collaborations in the first half of the year, exploring cross-border communication models [2]. Product Development - The company is expanding its product categories, with significant growth in roasted and marinated dishes during the Spring Festival, showcasing its capability in developing seasonal products [2]. - The baking segment is innovating with differentiated products based on the concept of "rice and medicinal food sharing" [2]. Marketing and Distribution - Wufangzhai has established a comprehensive marketing network covering trade, chain stores, and distributors, integrating online and offline channels for market expansion [3]. - The company deepened cooperation with major retail channels like Hema, Costco, and Sam's Club, driving direct sales growth [3]. Supply Chain and Efficiency - The company is enhancing quality and efficiency by standardizing supply chain processes and implementing logistics tracking systems [3]. - Significant progress has been made in cost reduction and personnel optimization, with procurement management improvements and steady progress in labor efficiency reforms [3]. Shareholder Returns - In May 2024, the company announced a cash dividend of 0.5 yuan per share, totaling 96.7572 million yuan, and in June, it proposed a share buyback plan of 35 to 70 million yuan [3][4]. - The company emphasizes its commitment to shareholder returns and enhancing investor satisfaction [4].

北京商报讯（记者 郭秀娟 实习记者 王悦彤） 8月28日，五芳斋发布2025年半年报，报告期内，公司实 现营业收入15.92亿元，同比增长0.66%；实现归母净利润1.95亿元，同比减少16.7%。 ...

Core Viewpoint - In the first half of 2025, the company reported a revenue of 1.592 billion yuan, a year-on-year increase of 0.66%, while net profit attributable to shareholders was 195 million yuan, a year-on-year decrease of 16.70% [1] Group 1: Financial Performance - The company achieved operating income of 1.592 billion yuan in the first half of 2025, reflecting a slight growth of 0.66% compared to the previous year [1] - The net profit attributable to shareholders was 195 million yuan, showing a decline of 16.70% year-on-year [1] Group 2: Strategic Initiatives - The company deepened cooperation with major retail channels such as Hema, Costco, and Sam's Club, driving growth in direct sales and validating the effectiveness of its channel upgrade strategy [1] - The company leveraged explosive growth in interest e-commerce by collaborating with Douyin's "With Hui Together" live streaming, exploring new traffic sources [1] - New distribution business growth was driven by channels like Dingdong Maicai and Xiaoxiang Supermarket, capturing opportunities in emerging markets [1] Group 3: International Expansion - The company accelerated its international layout, successfully entering new markets such as South Korea, the UAE, and Thailand, and obtained export qualifications for non-zongzi products, paving the way for long-term overseas strategies [1] Group 4: Consumer Trends and Product Development - The seasonal food attribute of zongzi has not fundamentally changed, but consumer acceptance of vacuum-packed zongzi is adjusting [1] - The company is guiding consumers towards fresh and vacuum-sealed zongzi products, launching short-shelf-life vacuum zongzi this year to respond to changing consumer demands [1] - Significant growth was observed in fresh and short-shelf-life vacuum zongzi, aligning with consumer demand for quality upgrades [1] - The company demonstrated strong capabilities in developing holiday-themed products, with significant growth in roasted and marinated dishes during the Spring Festival [1] - The incubation of non-zongzi products is progressing steadily, with plans for capacity expansion in the future [1]

格隆汇8月28日丨五芳斋(603237.SH)发布2025年半年度报告，报告期实现营业收入15.92亿元，同比增长 0.66%；归属上市公司股东的净利润1.95亿元，同比下降16.70%；扣除非经常性损益后的归属于上市公 司股东的净利润1.89亿元，同比下降16.26%；基本每股收益1.01元。 ...

证券代码：603237 证券简称：五芳斋 公告编号：2025-052 浙江五芳斋实业股份有限公司 第九届董事会第二十二次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 浙江五芳斋实业股份有限公司（以下简称"公司"）第九届董事会第二十二次 会议于 2025 年 8 月 28 日（星期四）以现场结合通讯方式召开。会议通知已于 2025 年 8 月 22 日通过邮件送达各位董事。本次会议应出席董事 9 人，实际出席 董事 9 人。 会议由董事长主持，董事会秘书、监事及高管列席。会议召开符合有关法律 法规、规章和《公司章程》的规定。 二、董事会会议审议情况 出席会议的董事对各项议案进行了认真审议并做出了如下决议： （一）审议通过《关于 2025 年半年度报告及其摘要的议案》 公司 2025 年半年度报告及其摘要的编制和审议程序符合法律、行政法规、 中国证监会和证券交易所的规定，报告内容真实、准确、完整地反映了公司 2025 年上半年的财务状况、经营成果和现金流量等实际情况，不存在虚假记载、误导 性 ...

w u F A N G Z H A 股票代码 603237 五芳斋2025年半年度报告 浙江五芳斋实业股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人厉建平、主管会计工作负责人陈传亮及会计机构负责人（会计主管人员）林耆 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本公司2025年半年度报告中涉及的公司未来计划、发展战略等前瞻性陈述，因存在不确定性， 不构成公司对投资者的实质承诺，敬请投资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司已在本报告中详细描述可能存在的相关风险 ...