Core Insights - The company reported a total revenue of 835 million yuan for the first half of 2025, marking an increase of 71.065 million yuan or 9.31% year-on-year, achieving five consecutive years of growth [1] - The net profit attributable to shareholders reached 132 million yuan, an increase of 20.156 million yuan or 18.08% year-on-year, achieving two consecutive years of growth [1] - The net cash inflow from operating activities was 104 million yuan, up by 1.211 million yuan or 1.18% year-on-year, achieving three consecutive years of growth [1] Financial Ratios - The latest debt-to-asset ratio stands at 18.79%, a decrease of 2.26 percentage points compared to the same period last year [3] - The latest gross profit margin is 27.01%, an increase of 1.54 percentage points from the previous quarter and an increase of 0.84 percentage points year-on-year, achieving two consecutive years of growth [3] - The latest return on equity (ROE) is 5.99%, an increase of 0.96 percentage points year-on-year [3] Earnings Per Share and Turnover Ratios - The diluted earnings per share are 0.55 yuan, an increase of 0.10 yuan or 22.22% year-on-year, achieving two consecutive years of growth [3] - The latest total asset turnover ratio is 0.30 times, an increase of 0.03 times year-on-year, representing a 9.57% increase [3] - The latest inventory turnover ratio is 8.46 times, an increase of 0.35 times year-on-year, achieving two consecutive years of growth [3] Shareholder Information - The number of shareholders is 17,000, with the top ten shareholders holding a total of 170 million shares, accounting for 71.15% of the total share capital [3] - The largest shareholder is Liu Huiping, holding 42.2 million shares [3]

证券研究报告 | 公司点评报告 2025 年 08 月 22 日 巴比食品（605338.SH） Q2 利润略超预期，核心业务增长提速 消费品/食品饮料 公司发布 25 年半年报，25Q2 实现收入/归母净利润/扣非归母净利润 4.7 亿元 /0.9 亿元/0.6 亿元，同比分别+13.5%/+31.4%/+24.3%。25Q2 公司利润表现略 超预期，特许加盟业务侧单店收入增速企稳回升，基本盘业务稳步扩容；大客 户与零售业务表现亮眼、实现多点突破。展望 25H2，公司单店增长修复有望延 续，大客户与零售业务有望通过直播带货、强化客户定制与优质单品等方式继 续培育增长极，与盒马、美团小象超市、天猫等多高势能客户销售有望继续快 速增长，成为驱动公司增长的重要引擎。预计公司 25-27 年 EPS 分别为 1.2 元、 1.3 元与 1.4 元，对应 25 年 18 倍 PE，维持"增持"投资评级。 大客户与零售业务方面：1）大客户业务：25H1 公司聚焦产品体系优化与渠 道布局，去年新开拓的定制馅料销售渠道表现亮眼，25H1 收入约 0.3 亿元 （yoy+约 90%），此外，公司完成一系列重点客户新品开发，持 ...

新华财经北京8月22日电巴比食品21日晚间披露的2025年半年度报告显示，该公司上半年实现营收8.35 亿元，同比增长9.31%；实现净利润1.62亿元，同比增长18.08%；实现扣非后净利润1.01亿元，同比增 长15.29%。 巴比食品股价近日表现较为强势，该公司股价在8月19日至21日的三个交易日累计上涨了11.00%，且连 续三个交易日创下其2025年年内收盘新高。截至2025年8月21日收盘，该公司股价创下2023年12月6日以 来的收盘新高。 巴比食品在半年报中表示，在外卖统管运营方面，公司运营团队通过升级线上门店形象、优化配套营销 活动、打造差异化套餐组合、一对一专项扶持指导、积极联动三大外卖平台的补贴资源等一系列技术及 资源支持，为加盟商持续赋能，报告期内公司加盟门店外卖实际到账平均单店收入实现同比近40%的显 著增长。 2025年上半年，公司大客户与零售业务多点突破、协同发展，合计达成销售收入1.99亿元，同比增长 18.99%，为全年目标达成奠定坚实基础。其中，第二季度实现销售收入1.06亿元，同比增长26.20%，收 入增速呈现逐季上扬的向好态势。 （文章来源：新华财经） 单季度来看，巴 ...

Core Viewpoint - The company, Babifood, has released its unaudited half-year report for 2025, highlighting its operational performance and financial status for the first half of the year [4][6]. Group 1: Company Overview - Babifood's total revenue for the first half of 2025 reached 834.65 million yuan, with main business revenue accounting for 99.90% of this total at 833.84 million yuan, while other business revenue contributed 0.10% at 806,300 yuan [4]. Group 2: Financial Data - The report indicates that the company has not undergone any significant changes in its major financial metrics or shareholder structure during the reporting period [3][5]. Group 3: Important Events - The company will hold a performance briefing on August 29, 2025, from 15:00 to 16:00, at the Shanghai Stock Exchange Roadshow Center, allowing investors to engage and ask questions regarding the half-year results [6][8].

Core Viewpoint - The report highlights the financial performance and operational strategies of Zhongyin Babi Food Co., Ltd. for the first half of 2025, showcasing growth in revenue and net profit, alongside a focus on expanding its franchise model and enhancing product offerings in the frozen food sector [1][2][3]. Company Overview and Financial Indicators - Zhongyin Babi Food Co., Ltd. reported a revenue of approximately 834.65 million yuan, a 9.31% increase compared to the same period last year [2]. - The total profit reached approximately 170.27 million yuan, reflecting a 15.86% year-on-year growth [2]. - The net profit attributable to shareholders was about 131.65 million yuan, marking an 18.08% increase from the previous year [2]. - The company’s net assets decreased by 3.06% to approximately 2.20 billion yuan, while total assets fell by 4.11% to around 2.74 billion yuan [2]. Business Model and Product Offerings - The company specializes in the research, production, and sales of Chinese-style frozen pastries, operating a model that integrates standardized production, cold chain distribution, and both direct and franchise sales [3][4]. - Product categories include a variety of steamed buns, dumplings, and other pastries, with over a hundred products available [3][4]. - The company employs a multi-channel sales strategy, focusing on franchise operations, direct sales, and large customer accounts [5][6]. Industry Context - The restaurant industry in China is becoming a strategic pillar for expanding domestic demand, with a steady growth in market size and an acceleration in chain operations [8][9]. - The frozen food market is projected to grow significantly, with the market size expected to reach approximately 2.13 trillion yuan by 2025 [13]. - The demand for convenient food options is increasing, particularly among urban consumers, driving the growth of the frozen food sector [12][13]. Operational Strategies - The company aims to enhance operational efficiency through digital transformation and supply chain optimization, while also expanding its franchise network [15][19]. - A focus on improving the franchise model has led to a net increase of 542 franchise stores, bringing the total to 5,685 [17]. - The company is actively pursuing strategic acquisitions to strengthen its market position and expand its operational footprint [18]. Market Trends - The restaurant market is witnessing a dual trend of short-term consumption downgrade and long-term value upgrade, with consumers increasingly valuing quality and price ratio [10][11]. - The frozen food sector is benefiting from the growing trend of urbanization and the fast-paced lifestyle of consumers, leading to a shift in consumption patterns [12][13]. - The company is positioned to capitalize on these trends by offering high-quality, convenient food products that meet evolving consumer preferences [21].

公司代码：605338 公司简称：巴比食品 中饮巴比食品股份有限公司 中饮巴比食品股份有限公司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。 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。 无 中饮巴比食品股份有限公司2025 年半年度报告摘要 | 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 | | 人民币普通股（A股） | 上海证券交易所 | 巴比食品 | 605338 | 无 | | 联系人和联系方式 | 董事会秘书 | | 证券事务代表 | | | 姓名 | 苏爽 | 马晓琳 | | | | 电话 | 021-57797068 | 021-57797068 | | | | 办公地址 | 上海市松江区车墩镇茸江路785号 | | 上海市松江区车墩镇茸江路785号 | | | 电子信箱 | ir@babifood.com ...

证券代码：605338 证券简称：巴比食品 公告编号：2025-026 中饮巴比食品股份有限公司 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： ? 会议召开时间：2025 年 8 月 29 日（星期五）15:00-16:00 ? 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：上证路演中心网络互动 ? 投资者可于 2025 年 8 月 22 日（星期五）至 8 月 28 日（星期四）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。 中饮巴比食品股份有限公司（以下简称"公司"）已于 2025 年 8 月 22 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 年半年度的经营成果、财务状况，公司计划于 2025 年 8 月 29 ...

味来""浔早"品牌门店。 | 证券代码：605338 证券简称：巴比食品 | | | | | 公告编号：2025-025 | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 中饮巴比食品股份有限公司 | | | | | | | | | 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。 | | | | | | | | | 中饮巴比食品股份有限公司（以下简称"公司"）根据《上海证券交易所上 | | | | | | | | | 市公司自律监管指引第 3 号行业信息披露：第十四号——食品制造》的相关要求， | | | | | | | | | 现将 2025 年半年度经营数据（未经审计）公告如下： | | | | | | | | | 万元，占营业收入 99.90%；其他业务收入为 80.63 万元，占营业收入 | | | | 0.10%。 | | | | | 一、营业收入分产品 | | | | | | | | | 单位：万元 | | | | ...

截至2025年8月21日15时，巴比食品股价报22.20元，较前一交易日上涨3.11%。当日开盘价为21.55元， 最高触及22.50元，最低下探21.35元，成交额1.49亿元，换手率2.82%。 风险提示：市场波动风险，行业竞争加剧，原材料价格波动等。 巴比食品属于食品饮料行业，主营业务为中式面点食品的研发、生产与销售，采用"标准化生产，全冷 链配送，直营、加盟、团体供餐为一体"的经营模式。截至2025年上半年，公司加盟门店数量达5685 家，较年初净增542家。 公司2025年半年报显示，上半年实现营业收入8.35亿元，同比增长9.31%；归母净利润1.32亿元，同比 增长18.08%。第二季度业绩增长显著，营收同比上升13.5%，净利润同比上升31.4%。此外，公司持续 优化单店经营模型，并通过新品研发和产品改良提升竞争力。 资金方面，巴比食品8月21日主力资金净流入170.44万元，近五日累计净流入342.63万元。 ...

（文章来源：证券日报） 证券日报网讯 8月21日晚间，巴比食品发布公告称，2025年半年度公司实现营业收入834，649，751.53 元，同比增长9.31%；归属于上市公司股东的净利润为131，650，641.34元，同比增长18.08%。 ...