证券代码：605338 证券简称：巴比食品 公告编号：2025-021 中饮巴比食品股份有限公司 关于召开 2024 年度暨 2025 年第一季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： 会议召开时间：2025 年 6 月 5 日（星期四）13:00-14:45 会议召开地点：上海证券交易所上证路演中心（网址：https://roadshow.s seinfo.com/） 会议召开方式：上证路演中心视频和网络互动 投资者可于 2025 年 5 月 28 日（星期三）至 6 月 4 日（星期三）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 ir@babifood.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。 （二）会议召开地点：上海证券交易所上证路演中心（网址：https://roa dshow.sseinfo.com/） （三）会议召开方式：上证路演中心视频和网络互动 三、参加 ...

Group 1 - The "Measures for Promoting and Managing the Catering Industry" will be implemented on June 15, 2025, with significant enhancements in industry promotion, including support for digital development and local特色餐饮 cultivation [1] - The revised measures provide practical guidance for catering service operators, aiming to improve service quality and competitiveness in the industry [1] - Analysts predict a recovery opportunity for the catering industry in 2025, driven by increased demand for banquets, ongoing subsidy policies like dining vouchers, and a potential rise in business dining as economic activity picks up [1][2] Group 2 - Following the announcement of the new measures, companies like Baba Food and Tianwei Food saw significant stock price increases, indicating positive market sentiment towards the catering sector [2] - Key companies in the catering supply chain include Hai Tian Wei Ye, Tian Wei Food, and An Qi Yeast, with projected revenue growth rates varying across the sector [5][6] - The core companies in the catering industry chain encompass various segments, including basic and compound condiments, as well as small dining chains [6]

Group 1 - The pre-made food concept sector rose by 2.30%, ranking 9th among concept sectors, with 97 stocks increasing in value [1] - Notable gainers in the pre-made food sector included Baba Food, Guoguang Chain, and Zhenghong Technology, which hit the daily limit, while Guangzhou Restaurant, Three Squirrels, and Kangbiter saw significant increases of 7.90%, 7.39%, and 7.27% respectively [1][2] - The sector experienced a net inflow of 254 million yuan from major funds, with 51 stocks receiving net inflows, and five stocks exceeding 50 million yuan in net inflows, led by Yonghui Supermarket with 69.21 million yuan [2][3] Group 2 - The top three stocks by net inflow ratio in the pre-made food sector were Zhenghong Technology, ST Lingnan, and Baba Food, with net inflow ratios of 33.54%, 29.49%, and 27.35% respectively [3] - The trading volume and turnover rates for key stocks in the pre-made food sector showed significant activity, with Baba Food achieving a turnover rate of 4.58% and a daily increase of 10% [3][4] - Other notable stocks included Guangzhou Restaurant with a turnover rate of 2.88% and a daily increase of 7.90%, and Three Squirrels with a turnover rate of 11.50% and a daily increase of 7.39% [4]

Mergers and Acquisitions - Multiple companies are experiencing stock price increases due to merger and acquisition activities, with notable gains including Zongyi Co. at 10.10% and Daqimo at 10.06% [2][3] - New entrants in the market such as Binhai Energy and Jinhongshun also saw significant increases of 10.00% and 9.98% respectively, attributed to similar merger activities [2] - The trend continues with companies like Huayuan Real Estate and Hunan Development achieving first board listings with gains of 9.94% and 9.97% [3] Shipping and Ports - Following the implementation of tariff adjustments between China and the US, there has been a surge in container bookings from China to the US, positively impacting shipping and port stocks [4] - Nanjing Port, Ningbo Shipping, and Lianyungang have all recorded five consecutive days of price increases, with gains of 9.97%, 10.04%, and 10.07% respectively [4][6] Robotics - The robotics sector is gaining attention, with Nvidia's CEO indicating that all mobile devices will become robots, potentially revolutionizing the industrial sector [7] - Companies like Zhongchao Holdings and Xinlong Health have seen stock increases of 10.13% and 10.01% respectively, driven by advancements in robotics [8] Chemical Products - Recent price hikes in chemical products such as dibutyl phthalate and hydroxyl esters have drawn market attention, benefiting companies like Zhongyida and Youfu Co. with stock increases of 9.99% and 10.04% [10][11] Food and Beverage - The release of new regulations by the Ministry of Commerce and the National Development and Reform Commission is expected to boost the food and beverage sector, with stocks like Jiaoda Angli and Baihe Co. seeing gains of 10.00% and 10.01% [12][15] Military and Aerospace - The debut of the "Jiutian" drone at the 15th China Airshow is anticipated to enhance the military sector, with companies like Chengfei Integration and Lijun Co. achieving stock increases of 10.00% and 10.02% [16][19] Nuclear Power - The announcement of procurement projects by China Fusion Energy Co. is expected to stimulate the nuclear power sector, benefiting companies like Wangzi New Materials and Baili Electric with stock increases of 9.99% and 9.92% [16][17] Venture Capital - Recent regulatory changes encouraging private equity participation in mergers and acquisitions are positively impacting venture capital stocks, with companies like Jiuding Investment and Electronic City seeing gains of 10.01% and 9.90% [19] Pet Economy - The pet economy is projected to grow significantly, with companies like Yuande Pet and Tianyuan Pet achieving stock increases of 9.98% and 20.00% [20][21] Carbon Fiber - Price increases in carbon fiber products have been reported, benefiting companies like Jilin Chemical Fiber with a stock increase of 10.04% [22][23] Smart Driving - The Ministry of Industry and Information Technology's push for mandatory standards in smart connected vehicles is expected to drive growth in the automotive sector, with companies like Wan'an Technology and Luchang Technology seeing stock increases of 10.00% [26][27] Rare Earth Permanent Magnets - Tightening supply of rare earth materials due to export controls has led to price increases, benefiting companies like Huayang New Materials and Jiuwu High-Tech with stock increases of 10.10% and 20.02% [28][29] Huawei Harmony - Huawei's upcoming product launch is expected to positively impact related stocks, with companies like Dongfang Zhongke and Dahua Intelligent seeing stock increases of 10.01% and 9.94% [30]

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Core Viewpoint - The food and beverage sector is experiencing active trading, particularly in the prepared food segment, with significant gains observed in companies like Baba Food, Tianwei Food, and others following the announcement of new regulatory measures aimed at promoting the restaurant industry [1] Group 1: Market Activity - The food and beverage sector is showing resilience, with Baba Food hitting the daily limit up [1] - Other companies such as Tianwei Food, Lihigh Food, Chengde Lulu, and Guangzhou Restaurant also reported notable increases in stock prices [1] Group 2: Regulatory Changes - On May 16, the Ministry of Commerce and the National Development and Reform Commission jointly released the "Measures for Promoting and Managing the Restaurant Industry," set to take effect on June 15, 2025 [1] - The new measures include 25 provisions that significantly enhance industry promotion, focusing on aspects such as international cooperation, digital development, standard formulation, and the cultivation of local specialty cuisines [1]

证券代码：605338 证券简称：巴比食品 公告编号：2025-020 中饮巴比食品股份有限公司2024年年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利0.80元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/5/13 | － | 2025/5/14 | 2025/5/14 | 差异化分红送转： 否 一、通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 4 月 18 日的2024年年度股东会审议通过。 权益分派不涉及差异化分红。 因此，公司将以注销回购专用证券账户股份后的总股本239,566,662股为基 数，每股派发现金红利0.80元（含税），共计派发现金红利191,653,329.60元。 三、相关日期 二、分配方案 1.发放年度：2024年年度 2.分派对象： 截至股权登记日下午上海证券交易所收 ...

Core Viewpoint - The company reported a slight increase in revenue and non-net profit for Q1 2025, driven by stable store operations and rapid growth in group meal services [2][3] Financial Performance - In Q1 2025, the company achieved revenue of 370 million yuan, a year-on-year increase of 4.45% [1] - The net profit attributable to shareholders was 37.2 million yuan, a year-on-year decrease of 6.13% [1] - The non-net profit attributable to shareholders was 38.9 million yuan, a year-on-year increase of 3.33% [1] - Basic earnings per share remained stable at 0.16 yuan compared to the same period last year [1] Business Segments - The revenue from franchise stores, direct stores, and group meal services in Q1 2025 was 265 million, 6 million, and 93 million yuan, reflecting changes of 2.75%, -10.16%, and 11.75% respectively compared to the previous year [2] - Revenue by region in Q1 2025 was 305 million, 32 million, 11 million, and 21 million yuan for East China, South China, North China, and Central China, with year-on-year changes of 4.53%, 8.07%, -9.52%, and 8.08% respectively [2] Profitability Metrics - The gross profit margin in Q1 2025 was 25.47%, a decrease of 0.45 percentage points year-on-year [3] - The net profit margin was 10.04%, down 1.35 percentage points from the previous year [3] - The company’s expense ratio improved slightly to 10.82%, a decrease of 0.18 percentage points year-on-year [3] Future Projections - The company is expected to achieve revenues of 1.823 billion, 2.015 billion, and 2.236 billion yuan for 2025-2027, with year-on-year growth rates of 9.1%, 10.5%, and 11.0% respectively [4] - Projected net profits for the same period are 268 million, 293 million, and 315 million yuan, with changes of -3.3%, 9.5%, and 7.4% respectively [4] - Corresponding EPS for 2025-2027 are expected to be 1.12, 1.22, and 1.31 yuan, with PE ratios of 16.4X, 15.0X, and 14.0X based on the closing price of 18.33 yuan on April 29 [4]

Investment Rating - The investment rating for the company is Neutral, maintained from previous assessments [5][15]. Core Views - The company reported a 4.45% year-on-year increase in total revenue for Q1 2025, amounting to 370 million yuan, while net profit attributable to shareholders decreased by 6.13% to 37 million yuan [8][11]. - The company is experiencing a stabilization in operations, with improvements in same-store sales and contributions from acquisitions [2][11]. - The company plans to open 1,000 new stores in 2025, despite a high short-term closure rate, which is expected to ease as same-store revenue recovers [2][13]. Summary by Sections Financial Performance - In Q1 2025, the company achieved a gross margin of approximately 25.5%, a slight decrease of 0.4 percentage points year-on-year, attributed to seasonal revenue fluctuations and increased depreciation from the Wuhan factory [2][11]. - The company maintained good cost control, with sales expense ratio and management expense ratio decreasing by 1.0 and 0.1 percentage points to 4.1% and 7.5%, respectively [2][11]. - The net profit margin for Q1 2025 was approximately 10.5%, reflecting stable profitability [2][11]. Revenue Breakdown - Revenue from various segments in Q1 2025 showed the following year-on-year changes: rice products +2.6%, filling products +11.4%, purchased food +3.7%, packaging and auxiliary materials +3.4%, and service fees -14.7% [11]. - Franchise income increased by 2.7% year-on-year, and group meal business revenue grew by 11.7%, driven by rapid growth in new retail and restaurant chain channels [11]. Future Projections - The company is projected to achieve total revenues of 1.83 billion, 1.99 billion, and 2.14 billion yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 9.4%, 8.6%, and 8.0% [3][15]. - Expected net profits for the same period are 250 million, 270 million, and 300 million yuan, with a projected decline of 8.6% in 2025, followed by growth of 8.0% and 8.1% in 2026 and 2027 [3][15].