证券代码：603777 证券简称：来伊份 公告编号：2025-064 上海来伊份股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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。 重要内容提示： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 09 月 29 日 （星期一） 至 10 月 13 日 （星 期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目 或通过公司邮箱 corporate@laiyifen.com 进行提问。公司将在说明 会上对投资者普遍关注的问题进行回答。 上海来伊份股份有限公司（以下简称"公司"）已于 2025 年 8 月 27 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地 了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 10 月 14 日（星期二）11:00-12:00 举行 2025 年半年度业绩说明会， 就投资者关心的问题进行交流。 一、 说明会类型 会议 ...

Core Viewpoint - The company Laiyifen (603777) has shown fluctuations in stock price and significant financial challenges in its recent performance, with a notable decline in net profit despite an increase in revenue [1][3]. Group 1: Stock Performance - As of August 29, 2025, Laiyifen's stock closed at 13.92 yuan, up 0.94% from the previous week [1] - The stock reached a peak price of 14.39 yuan on August 25, 2025, and a low of 13.48 yuan on August 28, 2025 [1] - The current market capitalization stands at 4.655 billion yuan, ranking 18th out of 23 in the leisure food sector and 3488th out of 5152 in the A-share market [1] Group 2: Shareholder Changes - As of June 30, 2025, the number of shareholders decreased to 41,800, a reduction of 1,320 shareholders or 3.06% compared to March 31, 2025 [2] - The average number of shares held per shareholder increased from 7,810 to 8,006 shares, with an average holding value of 105,100 yuan [2] Group 3: Financial Performance - For the first half of 2025, Laiyifen reported a main revenue of 1.94 billion yuan, an increase of 8.21% year-on-year [3] - The net profit attributable to shareholders was a loss of 50.68 million yuan, a decline of 439.6% year-on-year [3] - The second quarter of 2025 saw a main revenue of 891 million yuan, up 21.92% year-on-year, but the net profit attributable to shareholders was a loss of 63.12 million yuan, down 36.07% year-on-year [3][5] - The company reported a debt ratio of 44.92%, with investment income of 9.283 million yuan and financial expenses of 11.997 million yuan, while the gross profit margin was 32.61% [3] Group 4: Corporate Announcements - On August 25, 2025, the company held its 18th meeting of the fifth board of directors, where the half-year report was approved unanimously [4] - The company will not distribute profits or increase capital from reserves for the first half of 2025 [4][5]

Core Viewpoint - The company, Laiyifen, reported a disappointing performance in the first half of 2025, with revenue growth but a significant net loss, indicating a situation of increasing revenue without increasing profit [2][4][5]. Revenue Performance - Laiyifen's revenue for the first half of 2025 reached 1.94 billion yuan, a year-on-year increase of 8.21% [4]. - The net profit turned negative at -50.68 million yuan, a shift from profit to loss compared to the previous year [4]. - The cash flow from operating activities decreased by 78.68% to 22.40 million yuan [4]. Cost and Profitability Issues - The company's gross margin fell to 32.61%, down 8.67 percentage points year-on-year, while the net margin was -2.27%, a decline of 3.00 percentage points [6]. - In Q2 2025, the gross margin further decreased to 30.21%, down 10.73 percentage points year-on-year [7]. Store Operations and Adjustments - As of June 30, 2025, the total number of stores decreased to 2,979, with a net reduction of 106 stores [8]. - The number of direct-operated stores fell by 90 to 1,395, while franchise stores decreased by 16 to 1,584 [8]. - Revenue from direct-operated stores dropped by 78.69% to 875 million yuan, while franchise store revenue increased by 78.71% to 722 million yuan [8]. Market Challenges and Competitive Landscape - The company faces intense competition from emerging snack retailers, which have adopted low-price strategies that appeal to consumers, particularly in lower-tier markets [5][11]. - The overall consumption environment remains challenging, impacting many physical stores, including those in the snack sector [5]. Strategic Transformation - Laiyifen is undergoing a strategic transformation, focusing on new business channels and product innovation to drive revenue growth [5][10]. - The company is also exploring new product categories, including beverages and prepared foods, to enhance its market presence [9][12]. Recommendations for Improvement - Analysts suggest that the company should enhance product development and innovation, optimize store operations, and strengthen online sales channels to improve profitability [12][13]. - There is a need for better cost control in the supply chain and a clearer brand positioning to differentiate from competitors [13].

Core Viewpoint - The "A Cup of Coffee's Warmth" charity event during the 2025 Shanghai Charity Week aims to integrate coffee culture with charitable activities, engaging over 80 coffee brands and more than 1,300 stores to support migrant and autistic children in the city [1][3]. Group 1: Event Overview - The event will take place from August 31 to September 6, 2025, and is organized by the Shanghai Civil Affairs Bureau [1]. - It aims to create a participatory environment for the public, allowing everyone to engage in charitable acts through coffee consumption [1][3]. Group 2: Participation and Engagement - Over 1,300 coffee shops will act as "charity stations," including both well-known chains like Starbucks and independent brands such as Bear Paw Coffee and Pocket Coffee [2][3]. - Consumers can easily locate participating coffee shops through the "Love Coffee Map" on Gaode Map or by scanning QR codes in stores [3]. Group 3: Corporate Social Responsibility - Companies like KFC and Burger King will implement a "sales-linked donation" model, where each coffee purchase contributes to charity [5]. - Starbucks will offer cultural experiences for special needs children, while Nespresso will provide exclusive coffee for donors [5]. Group 4: Donation Channels - The event features both offline and online donation options, allowing contributions through QR codes in stores or via platforms like Taobao and WeChat [7]. - Donors contributing over 5.20 yuan will receive electronic coffee vouchers and gifts from participating stores [7]. Group 5: Long-term Impact - The initiative aims to build a sustainable charity ecosystem, involving over 20 social organizations and integrating resources from the coffee industry [9][10]. - The funds raised will specifically support projects for migrant and autistic children, ensuring transparency in fund allocation [9]. Group 6: Community Engagement - Offline events such as coffee markets and public displays will be held to raise awareness and encourage participation [12]. - Promotional content will be displayed across major public transport and commercial areas to enhance visibility and engagement [12].

Group 1 - The core viewpoint of the article highlights that Laiyifen (603777) has experienced revenue growth but significant losses in net profit for the first half of 2025, indicating a challenging financial situation [1][2] - The total operating revenue reached 1.94 billion yuan, an increase of 8.21% year-on-year, while the net profit attributable to shareholders was -50.68 million yuan, a decline of 439.6% [1] - In Q2, the operating revenue was 891 million yuan, up 21.92% year-on-year, but the net profit attributable to shareholders was -63.12 million yuan, down 36.07% [1] Group 2 - The gross profit margin was 32.61%, a decrease of 21.01% year-on-year, and the net profit margin was -2.27%, down 412.12% [1] - Total sales, management, and financial expenses amounted to 674 million yuan, accounting for 34.73% of revenue, a decrease of 15.22% year-on-year [1] - The company has a historical median ROIC of 4.59%, indicating average investment returns, with the worst year being 2020 at -4.6% [2] Group 3 - The business model relies heavily on marketing-driven strategies, which necessitates a thorough examination of the underlying factors driving this approach [2] - The company has reported a total of 8 annual reports since its listing, with 2 years of losses, suggesting a fragile business model [2]

Group 1 - Youyou Food achieved a net profit of 108 million yuan in the first half of 2025, a year-on-year increase of 42.47%, with a revenue of 771 million yuan, up 45.59% [1] - Keda achieved a net profit of 255 million yuan, a year-on-year increase of 16.49%, with a revenue of 2.163 billion yuan, up 14.35% [1] - North Navigation turned a profit with a net profit of 116 million yuan, achieving a revenue of 1.703 billion yuan, a year-on-year increase of 481.19% [1][2] Group 2 - China Satellite Communication reported a net profit of 181 million yuan, a year-on-year decrease of 55.59%, with a revenue of 1.221 billion yuan, up 6.33% [3] - Huqin Technology achieved a net profit of 1.889 billion yuan, a year-on-year increase of 46.3%, with a revenue of 83.939 billion yuan, up 113.06% [4] - Huasen Lithium reported a net loss of 72.739 million yuan, with a revenue of 350 million yuan, up 72.02% [4] Group 3 - Putailai achieved a net profit of 1.055 billion yuan, a year-on-year increase of 23.03%, with a revenue of 7.088 billion yuan, up 11.95% [5] - Suochen Technology reported a net loss of 45.698 million yuan, with a revenue of 57.351 million yuan, up 10.82% [5] - Canqin Technology achieved a net profit of 51.912 million yuan, a year-on-year increase of 51.94%, with a revenue of 287 million yuan, up 52.76% [6] Group 4 - Hengtong achieved a net profit of 99.3648 million yuan, a year-on-year increase of 38.86%, with a revenue of 669 million yuan, down 44.66% [6] - Sanan Optoelectronics reported a net profit of 176 million yuan, a year-on-year decrease of 4.24%, with a revenue of 8.987 billion yuan, up 17.03% [7] - New Dairy achieved a net profit of 397 million yuan, a year-on-year increase of 33.76%, with a revenue of 5.526 billion yuan, up 3.01% [8] Group 5 - Yiling Pharmaceutical achieved a net profit of 669 million yuan, a year-on-year increase of 26.03%, with a revenue of 4.040 billion yuan, down 12.26% [10] - Baosteel achieved a net profit of 4.879 billion yuan, a year-on-year increase of 7.36%, with a revenue of 151.372 billion yuan, down 7.28% [12] - Feikai Materials achieved a net profit of 217 million yuan, a year-on-year increase of 80.45%, with a revenue of 1.462 billion yuan, up 3.8% [13] Group 6 - Lier Chemical achieved a net profit of 271 million yuan, a year-on-year increase of 191.21%, with a revenue of 4.507 billion yuan, up 35.36% [15] - Shaanxi Coal achieved a net profit of 7.638 billion yuan, a year-on-year decrease of 31.18%, with a revenue of 779.83 billion yuan, down 14.19% [16] - Dongfang Materials reported a net profit of 654,400 yuan, a year-on-year decrease of 88.48%, with a revenue of 174 million yuan, down 5.06% [18] Group 7 - Blue Sky Bio achieved a net profit of 26.7163 million yuan, a year-on-year decrease of 8.98%, with a revenue of 652 million yuan, up 7.05% [19] - Shanghai Jiubai achieved a net profit of 23.7897 million yuan, a year-on-year increase of 0.24%, with a revenue of 45.0535 million yuan, down 1.09% [20] - Two Sides Needle reported a net loss of 5.0842 million yuan, with a revenue of 522 million yuan, up 1.02% [21] Group 8 - Shanghai Yashi achieved a net profit of 20.3263 million yuan, a year-on-year increase of 42.56%, with a revenue of 2.044 billion yuan, up 56.75% [23] - Bayi Steel reported a net loss of 697 million yuan, with a revenue of 8.733 billion yuan, down 6.73% [25] - Hongrun Construction plans to repurchase shares worth between 150 million and 300 million yuan [27] Group 9 - Kaile achieved a net profit of 10.9193 million yuan, a year-on-year increase of 280.42%, with a revenue of 137 million yuan, down 17.89% [28] - Jingda achieved a net profit of 306 million yuan, a year-on-year increase of 6.03%, with a revenue of 11.856 billion yuan, up 14.28% [29] - Blue Light Marker reported a net profit of 96.4427 million yuan, a year-on-year decrease of 47.33%, with a revenue of 32.36 billion yuan, up 4.87% [30] Group 10 - KOTAI Power achieved a net profit of 23.994 million yuan, a year-on-year increase of 35.52%, with a revenue of 711 million yuan, up 49.51% [33] - Bo Rui Data reported a net loss of 26.1918 million yuan, with a revenue of 70.1997 million yuan, up 5.19% [34] - Jiuzhoutong achieved a net profit of 1.446 billion yuan, a year-on-year increase of 19.7%, with a revenue of 81.106 billion yuan, up 5.10% [37] Group 11 - Aier Eye Hospital achieved a net profit of 2.051 billion yuan, a year-on-year increase of 0.05%, with a revenue of 11.507 billion yuan, up 9.12% [39] - Nandu Property achieved a net profit of 130 million yuan, a year-on-year increase of 532.87%, with a revenue of 914 million yuan, up 2.75% [41] - Weiyuan reported a net loss of 168 million yuan, with a revenue of 4.601 billion yuan, up 1.82% [42] Group 12 - Zhongke Chuangda achieved a net profit of 158 million yuan, a year-on-year increase of 51.84%, with a revenue of 3.299 billion yuan, up 37.44% [43] - Zhongjuxin reported a net profit of 8.1377 million yuan, a year-on-year decrease of 64.57%, with a revenue of 567 million yuan, up 20.40% [44] - Inspur Information achieved a net profit of 799 million yuan, a year-on-year increase of 34.87%, with a revenue of 80.192 billion yuan, up 90.05% [45] Group 13 - Shenghong Technology achieved a net profit of 2.143 billion yuan, a year-on-year increase of 366.89%, with a revenue of 9.031 billion yuan, up 86.00% [46] - Cambrian achieved a net profit of 1.038 billion yuan, turning a profit, with a revenue of 2.881 billion yuan, up 4347.82% [48] - Longteng Optoelectronics reported a net loss of 121 million yuan, with a revenue of 1.289 billion yuan, down 27.91% [49]

Core Insights - The report indicates that as of August 26, 2025, institutional investors hold a total of 196 million shares of Laiyifen, accounting for 58.49% of the company's total equity [1] - There has been a decrease of 1.21 percentage points in the institutional holding ratio compared to the previous quarter [1] - One new public fund, Tianhong CSI Food and Beverage ETF, was disclosed in this period, while UBS AG was not reported as a foreign institution in the current quarter [1] Institutional Holdings - Five institutional investors have disclosed their holdings in Laiyifen A-shares, with a combined shareholding of 196 million shares [1] - The institutional investors include Shanghai Aiwu Enterprise Management Co., Ltd., Shanghai Haiyong Deyu Management Consulting Partnership, Shanghai Ying Shui Investment Management Co., Ltd., Shanghai Deyong Runyu Management Consulting Partnership, and CITIC Securities Co., Ltd. [1] - The total institutional holding ratio stands at 58.49%, reflecting a slight decline from the previous quarter [1] Public Fund Activity - The report mentions the disclosure of one new public fund, Tianhong CSI Food and Beverage ETF, in the current reporting period [1] - This indicates a potential interest from public funds in the food and beverage sector, specifically in Laiyifen [1] Foreign Investment - UBS AG, a foreign institution, was not reported in the current quarter, suggesting a potential shift in foreign investment interest [1]

证券代码：603777 证券简称：来伊份 公告编号：2025-063 上海来伊份股份有限公司 第五届董事会第十八次会议决议公告 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。 三、备查文件 特此公告。 上海来伊份股份有限公司董事会 一、董事会会议召开情况 上海来伊份股份有限公司（以下简称"公司"）第五届董事会第十八次会议 于 2025 年 08 月 25 日以现场方式召开并表决。会议通知于 2025 年 08 月 12 日以 邮件、电话等方式向各位董事发出。本次会议应出席董事 10 名，实际出席董事 的召集、召开及表决程序符合《公司法》及《公司章程》等法律、法规、规范性 文件的规定。 二、董事会会议审议情况 经审议，与会董事一致认为公司编制的上海来伊份股份有限公司 2025 年半 年度报告及其摘要，内容真实、准确、完整地反映了公司的实际情况，不存在任 何虚假记载、误导性陈述或者重大遗漏。具体内容详见同日在上海证券交易所网 站（www.sse.com.cn）披露的《2025 年半年度报告》及《2025 年半年度报告摘要》。 表决 ...

Group 1 - The company reported a revenue of 1.94 billion yuan for the first half of 2025, representing a year-on-year increase of 8.21%, primarily due to the expansion of new business channels and increased revenue from new model businesses [1] - The company experienced a net loss of 51 million yuan, a shift from profit to loss compared to the previous year, mainly due to a decline in gross profit [1] - As of June 30, 2025, the total number of stores was 2,979, a decrease of 14.2% year-on-year, with 1,395 direct-operated stores (47%) and 1,584 franchised stores (53%), indicating a gradual transition from a traditional retail model to a chain management service and supply chain platform model [1] Group 2 - The company continued to implement an omnichannel expansion strategy, adding 44 new distributors during the reporting period [2] - The focus of the special distribution business was on transportation hubs and educational settings, successfully expanding into diverse service models such as push carts and VIP waiting rooms [2] - The company actively explored the campus nutrition meal sector, successfully launching a meal distribution project in schools in Suzhou, and strengthened regional招商 through platforms like the Shenzhen gift exhibition [2]

Group 1 - The company, Laiyifen (603777.SH), reported a total operating revenue of 1.94 billion yuan for the first half of 2025, representing a year-on-year growth of 8.21% [1] - The net profit attributable to shareholders of the parent company was -50.68 million yuan, compared to a net profit of 14.92 million yuan in the same period last year [1] - The basic earnings per share were -0.15 yuan [1]