Core Viewpoint - The leisure food sector experienced a slight increase of 0.02% on December 26, with Wancheng Group leading the gains, while the overall market indices also showed positive movement [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3963.68, up by 0.1% [1]. - The Shenzhen Component Index closed at 13603.89, up by 0.54% [1]. - Key stocks in the leisure food sector showed varied performance, with Wancheng Group closing at 202.40, up by 1.64% [1]. Group 2: Stock Performance Summary - Wancheng Group (300972) led the sector with a closing price of 202.40 and a gain of 1.64% [1]. - Other notable performers included Ximai Food (002956) at 27.08, up by 1.27%, and Laiyifen (603777) at 14.39, also up by 1.27% [1]. - Stocks such as Good Idea (002582) and Guilin Faxiang (002820) saw slight declines of 0.28% and 0.32%, respectively [1]. Group 3: Capital Flow Analysis - The leisure food sector saw a net outflow of 55.17 million yuan from institutional investors, while retail investors contributed a net inflow of 48.18 million yuan [2]. - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors showed interest [2]. Group 4: Individual Stock Capital Flow - Laiyifen (603777) experienced a significant net outflow of 42.53 million yuan from institutional investors, indicating a bearish sentiment [3]. - Wancheng Group (300972) had a net inflow of 2.78 million yuan from retail investors, suggesting some level of support from individual investors [3]. - Ximai Food (002956) saw a net inflow of 3.03 million yuan from institutional investors, reflecting positive interest [3].

Group 1: Company Performance - Tao Li Bread reported a revenue decline of 12.88% year-on-year to 4.049 billion yuan for the first three quarters of 2025, with a net profit attributable to shareholders down 31.49% to 298 million yuan [1] - In Q3, Tao Li's revenue fell by 11.64% year-on-year to 1.437 billion yuan, and net profit dropped by 35.05% to 94 million yuan [1] - The company experienced a nationwide sales decline, with revenues in the North, Northeast, and East China regions decreasing by 10.14%, 14.24%, and 8.25% respectively, while the Central region saw a revenue increase of 7.78% to 60 million yuan [1] Group 2: Competitive Landscape - Bimbo Group is in an expansion phase in China, with a significant increase in effective sales points compared to the previous year, and is likely experiencing revenue growth [2] - Bimbo's growth is driven by B2B channels, including long-term supply agreements with well-known fast-food chains and airlines, and a recent strategic agreement with Dingdong Maicai for overseas business expansion [3] - Bimbo's B2B operations benefit from higher gross margins due to reduced channel costs and marketing expenses, with brand recognition aiding market entry [3] Group 3: Market Strategy - Bimbo's strategy of controlling scale while expanding B2B markets is seen as a viable path for survival in the current market environment [6] - Despite Bimbo's growth, it still has a distance to cover to match Tao Li's overall national scale, but focusing on key urban areas is considered beneficial for stable performance [5]

21世纪经济报道记者贺泓源、实习生李音桦 面包市场继续分化。 该公司披露，截至2025年第四季度，宾堡在中国的有效销售点数较去年同期取得明显提升。2025年至 今，宾堡中国在电商、O2O、会员商店等渠道生意增速显著。另据21世纪经济报道记者了解，宾堡在华 营收大概率处于增长区间。 需要注意的是，桃李面包营收下滑有着C端市场调整因素，客观上宾堡也受到了影响。 而宾堡扩张背后，有着B端推动。该公司不仅是知名快餐连锁企业及知名航司的长期供应商。近期，宾 堡亦与叮咚买菜就出海业务达成战略协议，继续拓展多元业务发展。 此外，21世纪经济报道记者还了解到，宾堡在B端毛利率相对不错。"B端省去大量渠道成本、营销费 用，C端品牌也为打开B端市场起到背书作用。"宾堡相关业务负责人称。 在C端，宾堡近期推出了多滋棒注心饼干、果酱风味多菲角等新品。 需要看到的是，从整体全国布局规模来看，宾堡离桃李面包依旧有着距离。 桃李面包（603866）披露的财报显示，在2025年前三季度，该公司营收同比下滑12.88%至40.49亿元； 归母净利润同比下滑31.49%至2.98亿元。其中，三季度营收同比下滑11.64%至14.37亿元；归母净 ...

Core Viewpoint - The company emphasizes its commitment to information technology development and comprehensive food safety management to ensure operational efficiency and product quality [1] Group 1 - The company actively engages with investors through interactive platforms [1] - The company has a continuous optimization strategy for its management system [1] - The focus on food safety is a key aspect of the company's operational strategy [1]

证券日报网讯12月25日，桃李面包（603866）在互动平台回答投资者提问时表示，公司有水果口味的面 包，如：菠萝的派和草莓甜心可颂面包等。 ...

证券日报网讯12月25日，桃李面包（603866）在互动平台回答投资者提问时表示，股价波动受市场多重 因素影响，公司更专注于长期价值打造。 ...

（编辑 丛可心 王雪儿） 证券日报网讯 12月25日，桃李面包在互动平台回答投资者提问时表示，在原有明星单品的基础上，公 司不断加强新产品的开发和推广，加快产品更新速度，每年通过引进先进的生产设备并加以改良形成自 身独特的生产工艺，结合新原料，推出与市场上具有明显差异化的产品，提高产品附加值。 ...

北京商报讯（记者 陶凤 王悦彤） 12月25日，桃李面包在投资者互动平台回答投资者提问称，在原有明 星单品的基础上，公司不断加强新产品的开发和推广，加快产品更新速度，每年通过引进先进的生产设 备并加以改良形成自身独特的生产工艺，结合新原料，推出与市场上具有明显差异化的产品，提高产品 附加值。 ...

格隆汇12月25日丨桃李面包(603866.SH)在投资者互动平台表示，公司目前有玉米切片面包等相关产 品。 ...

（来源：大象新闻） 近日，桃李面包推出的一款"百洁布蛋糕"，因外形酷似厨房清洁用品在社交媒体上引发关注。 猎奇营销的背后有家长对造成儿童误食的担忧，更有业内对其"重营销、轻研发"的吐槽。 从其财报看，连续4年净利润滑坡的局面尚未扭转，2025年三季度再度提交盈利双降成绩单。 桃李面包，这家从"东北小作坊"兴起的"中国面包第一股"，在即将步入而立之年时，迎来了"中年危机"。 曾经的东北烘焙王，迫切需要转型。 (桃李面包推出"百洁布蛋糕") 营销"翻车"，是创意还是创新不足？ 百洁布+蛋糕？乍听之下人们很难将这两个毫不相干的东西联想在一起。 然而，桃李面包就在近期推出了一款黄绿配色的海绵蛋糕，外形与厨房清洁用的百洁布高度相似，并且这款新品名称就叫"百洁布蛋糕"，目前主要在线上 渠道销售。 这款"脑洞大开"的新品一经推出，就在社交媒体上引发褒贬不一的关注。 有网友出于好奇心理，第一时间下单尝试，也有网友称这块"百洁布"简直是"饭缩力"的代表，降低食欲。同时，更有家长担心其外形会造成儿童误食真实 的百洁布，存在安全隐患。 不可否认，桃李面包这款百洁布蛋糕凭借独特的外形设计，成功激发了消费者关注，从而制造传播声量。但评 ...