Core Viewpoint - The company, Hao Xiang Ni, reported a revenue of 1.67 billion yuan in 2024, a year-on-year decrease of 3.39%, and a net profit attributable to shareholders of -72 million yuan, a decline of 38.67%, marking three consecutive years of losses [1] Group 1: Financial Performance - In 2024, the company achieved a revenue of 1.67 billion yuan, down 3.39% year-on-year [1] - The net profit attributable to shareholders was -72 million yuan, representing a 38.67% decline compared to the previous year [1] - Cumulatively, the company has incurred losses exceeding 300 million yuan over the past three years, with net profits of -189 million yuan in 2021 and -52 million yuan in 2022 [1] Group 2: Dividend Policy - Despite consecutive losses, the company plans to distribute a cash dividend of 10 yuan per 10 shares, totaling approximately 432 million yuan for the 2024 fiscal year, along with an additional 173 million yuan in mid-year dividends, bringing the total to 605 million yuan [2] - The company's management stated that the dividend policy considers both investor demands and sustainable business operations, aiming to enhance shareholder returns and confidence [3] Group 3: Shareholding Structure - Approximately 30% of the high dividends are allocated to the founder's family, with the chairman holding 28.59% of the shares, and other family members holding a combined total of over 31% [4] - The chairman, Shi Jubin, and his family members are identified as acting in concert, indicating a significant influence over the company's decisions [4]

证券代码：002582 证券简称：好想你 好想你健康食品股份有限公司 投资者关系活动记录表 编号 2025-003 2 源节流，进一步提升公司市场竞争力，推动公司发展迈 向新的高度，争取为各位投资者提供更加良好的业绩回 报。感谢您的关注！ 4、【查询-004】高管您好，请问您如何看待行业未 来的发展前景？谢谢。 回复：您好。我们对行业前景充满信心。随着国民健 康消费意识持续升级、政策对食养文化的支持深化，健 康食品赛道正迎来结构性增长机遇。公司将以"药食同 源"理念为核心，通过产品创新、全渠道融合及数字化升 级，精准捕捉消费者对功能化、便捷化产品的需求，在行 业高质量发展浪潮中巩固先发优势，着力稳固"红枣专 家好想你"的行业地位。 投资者关系活 动类别 □特定对象调研 □分析师会议 □媒体采访 ☑业绩说明会 □新闻发布会 路演活动 □现场参观 其他 参与单位名称 及人员姓名 投资者网上提问 时间 2025 年 5 月 12 日(周一)下午 15:00-16:30 地点 公司通过全景网"投资者关系互动平台" （https://ir.p5w.net）采用网络远程的方式召开业绩 说明会 上市公司接待 人员姓名 董事 ...

证券代码：002582 证券简称：好想你 公告编号：2025-028 好想你健康食品股份有限公司 二、投资者参会方式 本次业绩说明会将采用网络远程的方式举行，投资者可于 2025 年 5 月 12 日 （周一）15:00-16:30 登陆全景网投资者关系互动平台（http://ir.p5w.net）在线参 会。 三、投资者问题征集及方式 关于举行 2024 年度网上业绩说明会的公告 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。 好想你健康食品股份有限公司（以下简称"公司"）《2024年年度报告》已 于2025年4月24日发布于指定信息披露媒体，为便于广大投资者进一步了解公司 经营情况及未来发展规划，公司定于2025年5月12日（周一）在全景网举行本次 年度业绩说明会，具体安排如下： 一、本次业绩说明会安排 1、召开时间：2025年5月12日（周一）15:00-16:30 2、召开方式：网络远程互动 3、出席人员：董事兼总经理石训先生，财务负责人、董事会秘书豆妍妍女 士，独立董事许晓芳女士（如有特殊情况，参会人员可能进行调整） 为广泛听取投资者的意见和建议，提 ...

Core Insights - The freeze-dried food industry in China is part of the agricultural and agricultural product processing sector, with upstream focusing on raw materials and freeze-drying equipment, midstream on food freeze-drying processing, and downstream on wholesalers, supermarkets, convenience stores, and food companies [1] Industry Overview - The freeze-dried food industry is primarily concentrated in Shandong and Jiangsu, with additional presence in Anhui, Henan, and Fujian [3] - Upstream raw material companies are mainly located in Xinjiang, Gansu, Shandong, and Hubei, while upstream refrigeration equipment companies are found in Beijing and Shanghai. Midstream freeze-dried food companies are predominantly in Shandong and Fujian [6] Company Performance - In the first half of 2024, the revenue from pet snacks for Guai Bao Pet reached 1.194 billion yuan. The gross margin varies significantly among listed companies, with Lai Yi Fen's candy and fruit products gross margin exceeding 45%, while Hao Xiang Ni's health-preserving products have a gross margin of only 11.50% [7][8] - The number of stores for Lai Yi Fen is the highest among listed companies, totaling 3,472 [7] Company Financials | Company Name | Revenue (Billion Yuan) | Gross Margin (%) | Other Indicators | | --- | --- | --- | --- | | Hao Xiang Ni (002582) | 0.35 | 11.50% | Store Count: 390 | | Lai Yi Fen (603777) | 3.41 | 45.18% | Store Count: 3,472 | | Liang Pin Pu Zi (603719) | 6.67 | 33.15% | Store Count: 2,814 | | San Zhi Song Shu (300783) | 0.35 | 21.32% | Store Count: 415 | | Guai Bao Pet (301498) | 1.194 | 39.19% | Pet Feed Sales: 176,000 tons | | Lu Si Co. (832419) | 0.215 | 26.41% | | | Zhong Chong Co. (002891) | 1.136 | 25.45% | Pet Food and Supplies Sales: 99,600 tons | | Pei Ti Co. (300673) | 0.190 | 29.87% | Pet Food and Others Sales: 30,100 tons [8] Recent Developments - Since 2024, representative companies in the freeze-dried food industry have engaged in strategic partnerships, established new companies, and built R&D centers [11]

Company Developments - Bawang Chaji opened its first store in the United States in Los Angeles, with former McDonald's CMO Eugene Lee joining as the Vice President and Chief Marketing Officer for the Asia-Pacific region [3] - Stone Technology reported a revenue of 3.428 billion yuan in Q1 2025, a year-on-year increase of 86.22%, driven by an expanded product matrix and optimized sales structure [4] - Midea Group's overseas OBM business grew by 40% year-on-year, with e-commerce sales increasing by over 50% in Q1 2025 [5] - Didi launched its overseas car rental service in 11 countries and 26 cities to cater to domestic users traveling abroad [6] - Tianlala plans to open over 200 new stores globally by 2025, focusing on Southeast Asia, Europe, North America, and the Middle East [7] - Anker Innovations reported a revenue of 24.71 billion yuan for 2024, a 41.14% increase year-on-year, with Q1 2025 revenue reaching 5.993 billion yuan, up 36.91% [8] - Uber partnered with Momenta to deploy autonomous taxis in Europe by early 2026 [8] - COSCO Shipping established a new company in Saudi Arabia to enhance its operations in the region [8] - Yizhibo plans to expand its consumer content and marketing services overseas, aiming to establish a presence in five countries by the end of the year [8] - JA Solar expects to rapidly increase production capacity after launching a project in Oman [8] - Zeekr Technology Group has entered over 60 international markets, with more than 1,200 global stores [8] - Deep Blue aims for overseas sales to account for 20% of its total sales by 2025 [8] - Cainiao's order volume in the North American market increased by over 30% [11] Macro Policies & Industry Data - The U.S. officially terminated its tax exemption policy for small packages from China, leading to increased logistics costs and delays for e-commerce platforms [12] - The trade volume between China and Arab countries exceeded $400 billion in 2024, marking a tenfold increase since 2004 [12] - In Q1 2025, China's software business exports reached $13.1 billion, a year-on-year increase of 2.4% [13] - The Export-Import Bank of China issued over 300 billion yuan in loans to support foreign trade in Q1 2025 [14] - Mexico is expanding its largest port to strengthen trade ties with China [14] Investment & Financing - In Time Robotics completed nearly 100 million yuan in B3 round financing to accelerate global market expansion [15] - IndustrialNext raised several million dollars in Series A funding to enhance team size and R&D efforts [15] - Aihua New Materials secured several million yuan in A round financing to focus on product development and overseas market expansion [15] - Guopei Chuang (Suzhou) Education Technology completed a million yuan Pre-A round financing to support AI technology development and overseas market expansion [16] - Clickmate, a live-streaming e-commerce platform in South Korea, announced seed round financing, with a monthly transaction volume of 9 billion KRW [17]

Core Insights - The snack industry has seen significant revenue growth, driven by new product launches and channel restructuring, including social e-commerce and discount stores [1][2] - Despite revenue growth, snack companies are facing challenges in maintaining profitability, with fluctuating sales expenses and gross margins [1][8] Revenue Growth Drivers - Major snack companies reported substantial revenue figures for 2024, with Three Squirrels leading at 10.622 billion, followed by other companies like Liangpinpuzi and Qiaqia Foods [2] - New product development has been highlighted as a key contributor to revenue, with Three Squirrels launching over 20 new products that achieved significant sales [3][4] Channel Expansion - The restructuring of sales channels has provided new opportunities for snack companies, with a focus on e-commerce and discount stores [5][6] - Three Squirrels reported an 81.73% increase in revenue from Douyin, indicating the effectiveness of digital marketing strategies [4] International Market Growth - Companies are increasingly targeting international markets, particularly Southeast Asia, to expand their growth potential [6][7] - Qiaqia Foods and other companies have reported significant growth in overseas sales, with Qiaqia's overseas revenue increasing by approximately 90% [6] Profitability Challenges - Many snack companies have experienced rising sales expenses, with increases ranging from 15.55% to 50.92%, primarily due to higher advertising costs [8][9] - Gross margins have shown volatility, with some companies reporting declines due to rising raw material costs and competitive pricing strategies [10] Dividend Distribution - Several companies have announced substantial cash dividends, reflecting confidence in their operational performance and future growth [11][12] - The total cash dividends and share buybacks for some companies represent a significant portion of their net profits, indicating a strong commitment to returning value to shareholders [11]

Group 1 - The company "好想你" has successfully exported various health food products, including red dates, ready-to-eat red dates, walnut-stuffed dates, and crispy red dates, to Southeast Asia, North America, and Europe [1] - The company is also engaging in cross-border e-commerce through the Amazon platform [1]

Core Viewpoint - The company reported a decline in total revenue for 2024 but showed significant improvement in net profit for Q1 2025, indicating a potential recovery in profitability driven by cost management and product optimization [1][2]. Financial Performance - Total revenue for 2024 was 1.67 billion yuan, a decrease of 3% year-on-year, with a net loss of 72 million yuan compared to a loss of 52 million yuan in 2023 [1] - Q4 2024 revenue was 492 million yuan, down 23% year-on-year, with a net loss of 11 million yuan [1] - Q1 2025 revenue was 413 million yuan, a decrease of 16% year-on-year, but net profit increased by 216% to 40 million yuan [1] Profitability and Cost Management - Gross margin for 2024 and Q1 2025 was 22.62% and 33.97%, respectively, with a recovery in profitability due to the depletion of high-cost raw materials [2] - Selling expense ratio decreased by 0.1 percentage points in 2024 and by 1 percentage point in Q1 2025, while management expense ratio decreased by 1 percentage point in 2024 and by 0.1 percentage points in Q1 2025, indicating effective cost control [2] - Net profit margin improved significantly in Q1 2025 to 9.62%, up from a loss margin of 4.53% in 2024 [2] Product and Channel Strategy - Revenue from red date products, health preservation products, and other categories for 2024 was 1.22 billion, 69 million, and 320 million yuan, respectively, with a notable decline in health preservation products due to reduced maintenance of old products [3] - Offline channel revenue increased by 3% to 1.14 billion yuan, driven by new retail channels, while e-commerce revenue decreased by 16% to 475 million yuan due to channel relocation [3] - The company is focusing on optimizing product structure and developing differentiated, high-tech red date products [3] Earnings Forecast - The company is expected to see continuous improvement in profitability due to lower raw material costs and the expiration of certain depreciation expenses [4] - Projected EPS for 2025-2027 is 0.02, 0.17, and 0.27 yuan, with corresponding PE ratios of 502, 70, and 44 times [4]

Group 1 - The well-known private equity firm Tongben Investment recently conducted research on three listed companies [1][2][3] - The first company, Haixiangni, aims to promote its brand culture through the IP image of "Feini and Xiangzai," targeting younger demographics [1] - The second company, Xingsen Technology, specializes in PCB products for industrial control and robotics, with target clients including chip design companies and packaging factories [2] - The third company, Ruilite, has launched an AI health toilet featuring the Deepseek model, introducing AI technology into the bathroom industry [3] Group 2 - Tongben Investment was established in January 2014 with a registered capital of 10 million, and it is recognized for its unique approach as a sunshine private equity firm [3] - The firm is notable for being founded by award-winning analysts, with its general manager and investment director, Mr. Tong Xun, having a strong background in the food and beverage sector [3]

Core Viewpoint - The company "好想你" has shown significant improvement in profitability, with a notable recovery in its financial performance driven by cost advantages and effective expense management [2][3][4]. Financial Performance Summary - In 2024, total revenue was 1.67 billion yuan, a decrease of 3% year-on-year, with a net loss of 72 million yuan compared to a loss of 52 million yuan in 2023. The first quarter of 2025 saw total revenue of 413 million yuan, a decrease of 16%, but a net profit of 40 million yuan, an increase of 216% year-on-year [2]. - The gross profit margin for 2024 and Q1 2025 was 22.62% and 33.97%, respectively, indicating a recovery in profitability as high-cost raw materials have been consumed [3]. Cost Management and Profitability - The company has effectively reduced sales and management expense ratios, leading to improved net profit margins of -4.53% in 2024 and 9.62% in Q1 2025 [3]. - The company is expected to continue benefiting from lower raw material costs and reduced depreciation expenses, which will enhance profitability in the coming years [4]. Product and Channel Strategy - The revenue from red date products, health preservation products, and other categories in 2024 was 1.22 billion yuan, 69 million yuan, and 320 million yuan, respectively, with a focus on developing differentiated and technologically advanced products [3]. - Offline channel revenue increased by 3% to 1.14 billion yuan, driven by new retail channels, while e-commerce revenue decreased by 16% to 475 million yuan due to channel relocation [3]. Earnings Forecast - The company is projected to have earnings per share (EPS) of 0.02 yuan, 0.17 yuan, and 0.27 yuan for 2025, 2026, and 2027, respectively, with current price-to-earnings (PE) ratios of 502, 70, and 44 times [4].