近日，山姆选品策略引发较多关注，好丽友、卫龙、泸溪河、盼盼、溜溜梅、徐福记等品牌入驻山姆的 产品遭到质疑，有网友称充值会员并不是为了购买在普通商超也能买到的产品。在引发热议后，7月15 日晚，山姆迅速把好丽友下架了。 除了好丽友外，另一个陷入较大争议的品牌为盼盼食品。盼盼食品在山姆上架的产品使用"panpan"作为 品牌名称，被质疑故意伪装成洋品牌。除了盼盼外，南都湾财社记者走访山姆后了解到，洽洽食品在山 姆售卖的产品中，同样也有采用英文名称的。 而在前一日（7月16日），针对引发的争议，盼盼食品方面并未正面回应质疑。盼盼食品相关负责人告 诉南都湾财社记者，盼盼食品作为中国休闲食品领军品牌，国民烘焙大品牌，始终坚持"盼盼食品是做 给亲人吃的，盼盼饮料是做给自己亲人喝的"理念，为消费者提供高品质产品。 南都湾财社记者走访山姆门店了解到，除了作为第三方加工厂为山姆自有品牌"Member's Mark"代工 外，多数知名休闲零食品牌在山姆售卖的产品，都是直接采用自己的品牌名，比如溜溜梅、有友食品、 徐福记等外包装上都印有品牌名。 此外，部分品牌入驻山姆的产品似乎有意弱化自身的品牌名称或者logo。如卫龙在山姆销售的 ...

Core Viewpoint - Qiaqia Food has reported its largest decline in net profit since its listing in 2011, with a projected net profit drop of 71.05% to 76.25% for the first half of 2025 compared to the previous year [2] Group 1: Financial Performance - The company expects a net profit of approximately 80 million to 97.5 million yuan for the first half of 2025, with a significant decline in both net profit and non-net profit [2] - In Q1 2025, Qiaqia Food's revenue decreased by 13.76% year-on-year, and net profit fell by 67.88% [2] - The decline in net profit further worsened in Q2 2025, indicating ongoing financial challenges [2] Group 2: Cost Pressures - The primary reason for the profit decline is the rising cost of raw materials, particularly sunflower seeds, which has led to a significant drop in gross margin [2][3] - The company has acknowledged the impact of rising costs on its operations, citing increased procurement prices for sunflower seeds and nuts [2][3] - Qiaqia Food has attempted to mitigate cost pressures by raising product prices multiple times over the past few years, but the positive impact on gross margin has diminished [3] Group 3: Supply Chain and Procurement - Qiaqia Food employs a mixed procurement model for sunflower seeds, which may weaken its control over quality and cost [3] - The company plans to optimize its procurement strategy by increasing the proportion of direct purchases [3] Group 4: Channel Strategy - In response to market conditions, Qiaqia Food is adjusting its channel strategy, increasing its focus on direct sales channels, which saw a revenue increase of 38.29% to 1.462 billion yuan in 2024 [4] - Despite the growth in direct sales, the gross margin for this channel has declined, with e-commerce channels showing particularly low margins [4][5] - The company aims to enhance e-commerce profitability through product structure optimization and is also exploring new channels such as snack wholesale systems and membership stores [5]

Core Viewpoint - The article discusses the recent entry of Qiaqia Food into the ice cream market with its new sunflower seed ice cream product, highlighting the challenges the company faces in promoting this product and its overall business performance decline [2][4][6]. Group 1: Product Launch and Market Entry - Qiaqia Food launched a new sunflower seed ice cream in mid to late June, featuring a combination of sunflower seeds and ice cream in three flavors: melon seed, caramel sunflower seed, and walnut sunflower seed [3]. - The product is currently in the trial sales phase, available on platforms like JD, Tmall, and Pinduoduo, with a price of approximately 7 yuan per 60g unit, totaling around 125 yuan for an 18-pack [4][6]. - Despite the launch, the product is reportedly hard to find in mainstream fresh food channels like Hema and Dingdong Maicai, with many retailers unaware of its existence [6]. Group 2: Business Performance and Challenges - Qiaqia Food has faced significant business challenges, with both revenue and net profit declining for the first time in 2023, and a staggering 67.88% drop in net profit in Q1 2025, marking the worst performance since its listing [2][13]. - The core business of sunflower seeds, which accounts for over 60% of revenue, is nearing a growth ceiling, with revenue growth of only 2.6% in 2024 [15]. - The company has struggled with competition in the sunflower seed market, particularly from fresh-roasted brands, and has seen increasing return rates on unsold products [15]. Group 3: Diversification Attempts - The ice cream venture is part of Qiaqia's broader diversification strategy, which has included attempts to enter various snack categories since 2008, but these efforts have not significantly contributed to revenue [9][12]. - Qiaqia's diversification has faced challenges due to resource dispersion and brand dilution, with past attempts in categories like jelly and chips failing to maintain profitability [12]. - The company aims to leverage its existing resources in nuts and seeds to create differentiated products, but faces stiff competition from established brands like Nestlé and Yili [6][12].

Core Viewpoint - The entry of Qiaqia Food into the ice cream market with its new seed ice cream product aims to attract the younger demographic, but the company faces significant challenges in distribution and market competition [2][5][10]. Group 1: Product Launch and Market Presence - Qiaqia Food has launched a new seed ice cream product, featuring flavors like melon seed ice cream and caramel seed ice cream, targeting the frozen food segment [2][3]. - The product is currently in the trial sales phase, available on platforms like JD, Tmall, and Pinduoduo, with a price of approximately 7 yuan per 60g unit [3][5]. - Despite the online presence, the product is reportedly hard to find in mainstream fresh food channels, indicating a lack of effective distribution [5][6]. Group 2: Business Challenges - Qiaqia Food's recent financial performance has been poor, with a 1.13% decline in revenue to 6.806 billion yuan and a 17.7% drop in net profit in 2023, marking the first negative growth since its listing [10][12]. - The company’s core business, sunflower seeds, which accounts for over 60% of revenue, is facing stagnation, with a mere 2.6% growth in 2024 [12][13]. - Increased competition in the sunflower seed market and changing consumer preferences towards healthier snacks have further pressured Qiaqia's traditional product lines [12][13]. Group 3: Strategic Considerations - Qiaqia Food's diversification efforts, including the ice cream venture, reflect a broader strategy to find new growth avenues amid declining core business performance [7][9]. - The company has previously struggled with diversification, as seen in its attempts to enter various snack categories without significant success [7][9]. - The need for effective cold chain logistics and marketing strategies is critical for Qiaqia to succeed in the competitive ice cream market [6][10].

[ChaCha Food Co., Ltd. 2025 Semi-Annual Performance Forecast](index=1&type=section&id=ChaCha%20Food%20Co.%2C%20Ltd.%202025%20Semi-Annual%20Performance%20Forecast) ChaCha Food Co., Ltd. provides its 2025 semi-annual performance forecast, anticipating a significant decline in net profit primarily due to increased raw material costs [Core Performance Forecast Data](index=1&type=section&id=II.%20Performance%20Forecast%20Overview) The company anticipates a significant year-over-year decline in its 2025 first-half performance, with net profit attributable to shareholders projected to be between 80 million and 97.5 million Yuan, a decrease of 71.05% to 76.25%, and non-recurring net profit expected to fall by 79.85% to 85.86% Key Performance Indicators for 2025 Semi-Annual Performance Forecast | Item | Current Period Forecast (Jan 1 - Jun 30, 2025) | Prior Period (Same Period Last Year) | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders** | Profit: 80.00 million – 97.50 million Yuan | Profit: 336.81 million Yuan | | Year-over-Year Change | **Decline: 71.05% - 76.25%** | - | | **Net Profit After Non-Recurring Items** | Profit: 40.00 million - 57.00 million Yuan | Profit: 282.86 million Yuan | | Year-over-Year Change | **Decline: 79.85% - 85.86%** | - | | **Basic Earnings Per Share** | Profit: 0.158 - 0.192 Yuan/share | Profit: 0.663 Yuan/share | [Analysis of Performance Change Reasons](index=1&type=section&id=IV.%20Explanation%20of%20Performance%20Change) The company attributes the significant decline in 2025 first-half net profit primarily to a substantial increase in raw material procurement prices, which directly eroded the company's gross profit margin - The company explicitly states that the primary reason for the year-over-year decline in net profit is a significant increase in raw material procurement prices, leading to a substantial decrease in gross profit margin[3](index=3&type=chunk) [Other Explanations and Risk Warnings](index=1&type=section&id=III.%20Communication%20with%20Accounting%20Firm) The company emphasizes that this performance forecast is based on preliminary financial department calculations and has not been audited by a certified public accountant, advising investors that final accurate financial data will be subject to the official 2025 semi-annual report and to exercise caution regarding investment risks - This performance forecast represents preliminary data from the company's finance department and has not been pre-audited by a certified public accountant[3](index=3&type=chunk) - The company reminds investors that specific financial data will be based on the 2025 semi-annual report to be disclosed by the company, and investment decisions should be made with caution[3](index=3&type=chunk)[4](index=4&type=chunk)

Overview - The demand for pistachios in China is increasing due to rising living standards and changing consumer preferences towards healthy snacks. In 2024, the demand for pistachios is projected to reach 235,100 tons, with a market size of 22.711 billion yuan, while the domestic production is only 81,100 tons, necessitating significant imports each year [1][10]. Market Policy - China has implemented a series of stringent food safety policies to regulate the production of pistachios, ensuring product quality and promoting the industry's development towards standardization and high quality. Key policies include guidelines for traditional food production, food safety assessment methods, and measures to enhance food enterprise standard management [4][6]. Industry Chain - The pistachio industry chain includes upstream cultivation, processing equipment, flavoring, and packaging materials. The main cultivation areas are in Xinjiang and Gansu, where the climate is suitable for pistachio growth. Due to insufficient domestic production, China heavily relies on imports. The midstream involves processing, while the downstream includes sales channels such as supermarkets, convenience stores, and e-commerce platforms [8][10]. Development Status - The market for pistachios is experiencing continuous growth, with a projected import volume of 133,700 tons and an import value of approximately 86.9 million USD in 2024. The average import price is 6.50 USD per kilogram, with major suppliers being the United States, Iran, Australia, and Turkey [12][10]. Competitive Landscape - The pistachio industry in China is characterized by a fragmented competitive landscape with numerous participants. Key players include Three Squirrels, Qiaqia Food, and Good Products, among others, with operations spread across various provinces [14][16]. Company Analysis - Three Squirrels has achieved significant sales, with total revenue reaching 10.62 billion yuan in 2024, of which the nut business accounted for 5.366 billion yuan, representing 50.5% of total revenue [16]. Good Products, established in 2006, reported total revenue of 7.159 billion yuan in 2024, with the nut business contributing 1.138 billion yuan, or 15.9% of total revenue [18]. Development Trends - The future demand for pistachios is expected to grow as consumer health awareness increases, leading to a shift towards low-fat, high-protein, and nutrient-rich products. Companies are likely to invest in product diversification and innovation, including new flavors and functional products, as well as deep-processing products like pistachio butter and oil [20].

证券代码：002557 证券简称：洽洽食品 公告编号：2025-052 债券代码：128135 债券简称：洽洽转债 洽洽食品股份有限公司 关于变更保荐代表人的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 洽洽食品股份有限公司（以下简称"公司"）于近日收到国元证券股份有限 公司（以下简称"国元证券"）出具的《国元证券股份有限公司关于变更洽洽食 品股份有限公司持续督导工作保荐代表人的函》。国元证券作为公司持续督导阶 段的保荐机构，目前负责持续督导的保荐代表人为王钢先生、孙彬先生。 公司首次公开发行股票并上市持续督导期已于 2013 年 12 月 31 日结束，公 司公开发行可转换公司债券持续督导期已于 2021 年 12 月 31 日结束，但由于募 集资金尚未使用完毕，国元证券需要对公司剩余募集资金的使用和管理继续履行 督导义务。由于公司原保荐代表人孙彬先生因个人原因，不再负责公司的持续督 导工作，为保证公司持续督导工作的有序进行，国元证券现委派黄斌先生接替孙 彬先生担任公司持续督导工作的保荐代表人，继续履行持续督导职责。 公司董事会对孙彬先生在担任公司保 ...

证券代码：002557 证券简称：洽洽食品 公告编号：2025-051 债券代码：128135 债券简称：洽洽转债 洽洽食品股份有限公司 关于股份回购进展情况的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 洽洽食品股份有限公司（以下简称"公司"）于 2024 年 11 月 14 日召开第 六届董事会第十三次会议审议通过了《洽洽食品股份有限公司关于回购公司股份 方案暨取得股票回购专项贷款的议案》，拟使用公司自有资金和股票回购专项贷 款资金以集中竞价交易方式回购公司部分社会公众股份（A 股），公司拟回购股 份用于后期实施股权激励计划或员工持股计划的股份来源；回购的资金总额不低 于人民币 4,000 万元（含），且不超过人民币 8,000 万元（含）；回购价格不超 过人民币 47.48 元/股（含）。本次回购股份的实施期限为自公司董事会审议通 过本次回购方案之日起 12 个月内。公司于 2024 年 11 月 23 日披露了《洽洽食 品股份有限公司回购报告书》。 因公司实施 2024 年前三季度权益分派，公司回购股份的价格由不超过人民 币 47.48 元/股 ...

证券代码：002557 证券简称：洽洽食品 公告编号：2025-050 债券代码：128135 债券简称：洽洽转债 洽洽食品股份有限公司 关于2025年第二季度可转债转股情况的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 特别提示： 根据《深圳证券交易所股票上市规则》、《深圳证券交易所上市公司自律监 管指引第 15 号——可转换公司债券》的有关规定，洽洽食品股份有限公司（以 下简称"公司"）现将 2025 年第二季度可转换公司债券（以下简称"可转债"） 转股及公司股份变动情况公告如下： 深交所挂牌交易，债券简称"洽洽转债"，债券代码"128135"。 根据相关法律法规和《洽洽食品股份有限公司公开发行可转换公司债券募集 说明书》（以下简称"《募集说明书》"）的有关规定，本次发行的可转换公司 债券转股期自可转换公司债券发行结束之日（2020 年 10 月 26 日）起满六个月 后的第一个交易日（2021 年 4 月 26 日）起至可转换公司债券到期日（2026 年 10 月 19 日）止。"洽洽转债"的初始转股价格为 60.83 元/股。 2021 年 6 ...

证券代码：002557 证券简称：洽洽食品 公告编号：2025-049 债券代码：128135 债券简称：洽洽转债 洽洽食品股份有限公司 名称：洽洽食品股份有限公司 统一社会信用代码：913400007300294381 类型：股份有限公司（中外合资、上市） 法定代表人：陈先保 注册资本：伍亿零伍佰捌拾伍万伍仟零玖拾贰人民币元整 成立日期：2001 年 08 月 09 日 住所：安徽省合肥市经济技术开发区莲花路 关于完成工商变更登记并换发营业执照的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 洽洽食品股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日召开第六 届董事会第十七次会议、于 2025 年 5 月 16 日召开 2024 年年度股东大会，审议 通过了《关于修订＜公司章程＞的议案》，同意公司注册资本由 507,000,000 元变更为 505,855,092 元。具体内容详见公司在巨潮资讯网（www.cninfo.com.cn） 披露的相关公告。 近日，公司完成了上述事项的工商变更登记手续，获得了安徽省市场监督管 理局换发的《营业 ...