Core Points - The first industry standard for the ready-to-drink tea beverage sector has been officially released, addressing previous gaps in industry regulations [1][2] - The standard, titled "Requirements for Raw and Auxiliary Materials of Ready-to-Drink Tea Beverages," will take effect on January 1, 2026, and aims to enhance quality control and safety in the industry [1][3] Industry Development - The ready-to-drink tea industry has experienced rapid growth in recent years, but it has also faced food safety issues due to its relatively short development history [1][3] - As the industry matures, more companies are establishing their own standards, contributing to the overall standardization of the sector [1][3] Standard Details - The newly released standard was developed by the China Tea Circulation Association in collaboration with several leading companies, including Heytea and Gu Ming [2][3] - It specifies quality requirements, inspection methods, packaging, transportation, and storage for various raw materials used in tea beverages, including tea leaves, fruits, dairy products, and sweeteners [2][3] Consumer Focus - There is an increasing consumer demand for high-quality and healthy tea beverages, prompting companies to prioritize the quality of raw materials [1][4] - The standard aims to align with consumer interests by ensuring that the raw materials used in tea beverages meet safety and quality standards [4][12] Future Outlook - The China Tea Circulation Association plans to continue improving the standardization system for the ready-to-drink tea industry, aiming for scientific and high-quality development [5] - The industry is moving towards greater self-regulation, with companies recognizing the importance of adhering to established standards for quality and safety [12]

Investment Overview - The company, Jiahua Food Industrial Co., Ltd., is participating in an investment in the Qiongcheng Jinchih Venture Capital Partnership (Limited Partnership) with a total investment amount of RMB 7 million, representing 12.94% of the total subscribed capital [2][5] - The investment does not require approval from the company's board of directors or shareholders and does not constitute a related party transaction or a major asset restructuring as defined by relevant regulations [3][5] Partner Information - The general partner and fund manager is Beijing Fangyuan Jinding Investment Management Co., Ltd., established on July 10, 2014, with a registered capital of RMB 50 million [4][5] - The fund has a registered capital of RMB 5 million and was established on May 30, 2025, focusing on private equity investment and asset management [5][6] Fund Details - The initial fundraising scale of the fund is RMB 54.1 million, with various limited partners contributing different amounts, including Jiahua Food's subsidiary, Koge Food (Shanghai) Co., Ltd. [5][6] - The fund's investment period is set for five years, with a potential extension of up to two additional years [6][7] Strategic Impact - The investment aligns with the company's strategic development needs, allowing it to leverage the expertise of professional investment institutions in the consumer sector, thereby enhancing its understanding of industry trends and opportunities for sustainable growth [11][12]

投资标的名称：共青城金螭创业投资合伙企业（有限合伙）（以下简称"共 青城金螭基金"、"标的基金"、"合伙企业"或"本合伙企业"）。 投资金额：佳禾食品工业股份有限公司（以下简称 "公司"）的全资子 公司蔻歌食品（上海）有限公司（以下简称"蔻歌食品"）拟作为有限合伙人以 自有资金认缴出资人民币 700 万元，占认缴出资总额的 12.94%。 本次对外投资事项无需提交公司董事会及股东会审议；本次对外投资不 构成关联交易，也不构成《上市公司重大资产重组管理办法》规定的重大资产重 组。 相关风险提示： 证券代码：605300 证券简称：佳禾食品 公告编号：2025-062 佳禾食品工业股份有限公司 关于参与投资私募投资基金的公告 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: 1、蔻歌食品作为有限合伙人，根据合伙协议的相关规定在认缴出资份额内 承担有限责任，存在着在认缴出资额范围内无法收回投资成本的风险。 2、由于私募基金投资具有周期较长、流动性较低等特点，蔻歌食品本次参 与的标的基金的投资回报可能将面临较长的投资回收 ...

Core Viewpoint - The company, Jiahe Foods, is experiencing a significant decline in its financial performance for the first half of 2025, with net profit expected to drop by 77.21% to 84.80% compared to the same period last year, raising concerns about the transformation pains of the leading plant-based cream industry player [1] Group 1: Financial Performance - The projected net profit for the first half of 2025 is between 10.55 million to 15.83 million yuan, a substantial decrease from the previous year [1] - The net profit after excluding non-recurring gains and losses is expected to be as low as 2.37 million to 3.55 million yuan, reflecting a year-on-year decline of 94.24% to 96.16% [1] Group 2: Reasons for Decline - The decline in performance is attributed to a dual pressure from rising costs and strategic investments [1] - Increased product costs due to a rise in raw material prices and higher marketing expenses from expanding into coffee and C-end sales channels are key factors [1] Group 3: Business Strategy and Market Trends - Jiahe Foods' core product, plant-based cream, has seen a significant drop in sales due to the trend of "de-plant-based cream" in the new tea beverage industry [1] - The company is shifting focus towards the coffee industry, having announced plans to raise 725 million yuan for coffee production expansion and working capital [1] - In June, the company enhanced brand recognition by gifting coffee products to shareholders [1] Group 4: Sales and Marketing Expenses - Sales expenses surged by 75.14% year-on-year in 2024, primarily due to increased promotional costs for the coffee business and e-commerce platform expenses [2] - In the first half of 2025, the trend of rising marketing expenses continued, significantly impacting profit margins despite efforts to penetrate the market through free product giveaways and strengthening C-end channel construction [2] - The wholly-owned subsidiary, Jinmao Coffee, reported revenue of 292 million yuan in 2024, but its net profit was only 7.67 million yuan, with profit margins below the industry average [2]

Group 1 - The company, Jiahe Food Industrial Co., Ltd., expects a net profit attributable to shareholders for the first half of 2025 to be between 10.5553 million and 15.8297 million yuan, indicating a significant decline compared to the previous year [1][2] - The estimated net profit after deducting non-recurring gains and losses is projected to be between 2.3682 million and 3.5515 million yuan, representing a year-on-year decrease of 94.24% to 96.16% [1][2] - The previous year's net profit attributable to shareholders for the first half of 2024 was 69.4439 million yuan, with a profit total of 88.6728 million yuan [2] Group 2 - The increase in marketing expenses compared to the same period last year is cited as a primary reason for the decrease in performance [2] - Non-recurring gains and losses did not have a significant impact on the company's performance changes [2] - The performance forecast is based on preliminary calculations by the company's finance department and has not yet been audited by registered accountants [2]

[Current Period Performance Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) The company forecasts a substantial decline in H1 2025 net profit attributable to shareholders and non-recurring adjusted net profit, based on preliminary unaudited data 2025 Semi-Annual Performance Forecast | Metric | 2025 H1 Estimate | Year-on-Year Change | | :--- | :--- | :--- | | Net Profit Attributable to Shareholders of Listed Company | 10.5553 million yuan - 15.8297 million yuan | Decrease 77.21% - 84.80% | | Net Profit After Deducting Non-recurring Gains and Losses | 2.3682 million yuan - 3.5515 million yuan | Decrease 94.24% - 96.16% | - This performance forecast data represents preliminary estimates and has not been audited by accountants[2](index=2&type=chunk)[5](index=5&type=chunk) [Prior Period Performance and Financial Status](index=1&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%8A%E5%B9%B4%E5%90%8C%E6%9C%9F%E4%B8%9A%E7%BB%A9%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%83%85%E5%86%B5) H1 2024 financial results, including net profit attributable to shareholders and non-recurring adjusted net profit, establish the baseline for the current performance forecast 2024 Semi-Annual Performance Review | Metric | Amount | | :--- | :--- | | Net Profit Attributable to Shareholders of Listed Company | 69.4439 million yuan | | Net Profit After Deducting Non-recurring Gains and Losses | 61.6541 million yuan | | Earnings Per Share | 0.17 yuan | [Primary Reasons for Current Period Performance Decline](index=2&type=section&id=%E4%B8%89%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%87%8F%E7%9A%84%E4%B8%BB%E8%A6%81%E5%8E%9F%E5%9B%A0) The performance decline is primarily due to increased product costs from rising raw material prices and higher marketing expenses for coffee product and B2C channel expansion - Core business was impacted by short-term raw material price increases, leading to a year-on-year rise in product costs[9](index=9&type=chunk) - The company continued to develop coffee and other product businesses and vigorously expanded B2C sales channels, resulting in increased marketing expenses compared to the prior year[9](index=9&type=chunk) - Non-recurring gains and losses did not have a significant impact on the company's performance changes[10](index=10&type=chunk) [Related Risk Warning](index=2&type=section&id=%E5%9B%9B%E3%80%81%E7%9B%B8%E5%85%B3%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company emphasizes this unaudited performance forecast is a preliminary estimate with inherent uncertainty, advising investors to consult the official semi-annual report for final data and note investment risks - This performance forecast is a preliminary calculation by the company's financial department based on its professional judgment, which has not yet been audited by certified public accountants, and its accuracy is subject to uncertainty[11](index=11&type=chunk) - Investors are reminded that the final accurate financial data will be based on the company's officially disclosed 2025 semi-annual report, and they should make cautious decisions and be aware of investment risks[12](index=12&type=chunk)

Summary of Key Points Core Viewpoint - Jiahe Foods (605300) has shown a positive stock performance with a closing price of 13.99 yuan as of July 11, 2025, reflecting a 1.45% increase from the previous week [1] Company Announcements - Jiahe Foods announced the use of 50 million yuan of idle raised funds to purchase structured deposits from China Merchants Bank, specifically a 92-day product with an expected annual yield of 1.00% to 1.80% [1] - The decision to manage idle funds was approved by the company's board and supervisory committee, as well as the annual general meeting of shareholders [1] - The total amount raised by the company was approximately 724.99 million yuan, with a net amount of about 711.09 million yuan after deducting issuance costs [1] - The company has implemented measures to ensure the safety of the funds, including compliance with laws, tracking product investments, and oversight by independent directors and the audit committee [1] - As of the announcement date, the balance of temporarily idle raised funds under cash management was 450 million yuan, which is within the authorized range by shareholders [1]

证券代码：605300 证券简称：佳禾食品 公告编号：2025-060 佳禾食品工业股份有限公司 关于使用部分暂时闲置募集资金进行现金管理的进展公告 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： 现金管理产品名称及期限：招商银行点金系列看涨两层区间 92 天结构性 存款（92 天） 履行的审议程序：本事项已分别经佳禾食品工业股份有限公司（以下简 称"公司"）第三届董事会第四次会议、第三届监事会第三次会议及 2024 年年 度股东大会审议通过。具体内容见公司 2025 年 4 月 26 日披露于上海证券交易所 网站（www.sse.com.cn）的《佳禾食品工业股份有限公司关于使用部分闲置募集 资金进行现金管理的公告》（公告编号：2025-030）。 特别风险提示：尽管本次公司进行现金管理购买的理财产品为低风险、 流动性好的产品，属于低风险投资品种，但金融市场受宏观经济、财政及货币政 策的影响较大，不排除该项投资可能受到市场波动的影响，理财收益具有不确定 性。 一、本次现金管理概述 （一）现金管理目的 在不影响 ...

Group 1 - The food and beverage sector showed strong performance on July 7, with companies like Huirong Technology and Jiahe Food hitting the daily limit up [1] - Meituan's retail orders reached a historical high of 120 million on July 5, with over 100 million being food delivery orders, indicating robust growth in takeaway consumption demand [1] - Huirong Technology is a key player in the vegetable fat cream sector, focusing on the R&D and production of baking food ingredients, and holds a significant position in China's vegetable fat cream market [1] Group 2 - New tea beverage stocks in the Hong Kong market also saw collective gains, with companies like Tea Baidao and Gu Ming experiencing varying degrees of increase, reflecting the surge in takeaway orders from mainland delivery platforms [1] - Guotou Zhonglu, a concentrated juice company, achieved a limit up following its announcement of a major asset restructuring plan to acquire 100% equity of China Electronic Engineering Design Institute, indicating a shift from traditional juice business to the electronic engineering sector [1] - The active performance of the food and beverage sector reflects optimistic market expectations for consumer recovery, with the historic surge in takeaway orders providing positive signals for related industry chain companies [1][2]

智通财经7月7日电，早盘食品饮料板块走强，海融科技、佳禾食品涨停，香飘飘、一致魔芋、欢乐家、 熊猫乳品等跟涨。消息面上，在7月5日，美团单日零售订单突破历史纪录——达到1.2亿单，其中餐饮 订单则超过1亿单。 食品饮料板块盘初活跃 海融科技、佳禾食品双双涨停 ...