Group 1 - The new retail concept stocks in the A-share market are showing active performance, with several companies hitting the daily limit up [1] - Hai Xin Food, La Fang Jia Hua, Hangzhou Jie Bai, and Xin Hua Du all reached the daily limit up of 10% [1] - Hong Mian Co., San Jiang Shopping, and others saw significant increases, with Hong Mian Co. rising over 6% and San Jiang Shopping increasing by 6.26% [1] Group 2 - Hai Xin Food's market capitalization is 4.274 billion, with a year-to-date increase of 8.01% [2] - La Fang Jia Hua has a market capitalization of 4.804 billion and a year-to-date increase of 10.18% [2] - Hangzhou Jie Bai's market capitalization is 7.204 billion, with a year-to-date increase of 20.99% [2] - Xin Hua Du has a market capitalization of 9.055 billion and a year-to-date increase of 42.47% [2] - Hong Mian Co. has a market capitalization of 7.617 billion, with a year-to-date increase of 10.08% [2] - San Jiang Shopping's market capitalization is 10.7 billion, with a year-to-date increase of 41.68% [2] - Other companies like You Hao Group, Bi Yin Le Fen, and Hong Hui Guo Shu also showed positive performance with increases over 4% [1][2]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 记者|杜恒峰 编辑|段炼 杜波 校对|何小桃 封面图片|视觉中国（图文无关） 2月5日，市场早盘震荡调整，三大指数均跌超1%。截至中午休市，沪指跌1.03%，深成指跌1.81%，创 业板指跌1.94%。沪深两市半日成交额1.45万亿，较上个交易日缩量1682亿。全市超3600股下跌。 （免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。） 新浪声明：此消息系转载自新浪合作媒体，新浪网登载此文出于传递更多信息之目的，并不意味着赞同 其观点或证实其描述。文章内容仅供参考，不构成投资建议。投资者据此操作，风险自担。 责任编辑：凌辰 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 记者|杜恒峰 编辑|段炼 杜波 校对|何小桃 从板块来看，大消费板块大涨，食品饮料、零售、影视院线方向涨幅居前，横店影视6天5板，杭州解百 2连板，安记食品、海欣食品、金逸影视涨停。阿里概念局部异动，新华都直线涨停。算力租赁概念回 暖，二六三封涨停。银行板块逆势拉升，厦门银行涨超6%。 | | 影视传媒 | ...

Market Overview - On February 3, the food processing sector rose by 0.64% compared to the previous trading day, with Hai Xin Food leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] Stock Performance - Hai Xin Food (002702) closed at 6.90, with a gain of 2.37% and a trading volume of 358,900 shares, amounting to a transaction value of 246 million yuan [1] - Other notable performers included: - Ji Yuan Group (603262) at 28.16, up 2.07% [1] - Zi He Co. (603102) at 45.95, up 2.07% [1] - Quan Da Wei (002626) at 18.71, up 1.80% [1] - Jiao Da Ang Li (600530) at 6.44, up 1.58% [1] Declining Stocks - ST Spring (600381) saw a decline of 5.11%, closing at 3.16, with a trading volume of 130,000 shares [2] - Long Da Mei Shi (002726) fell by 3.84%, closing at 4.01, with a transaction value exceeding 181 million yuan [2] - Other declining stocks included: - Xian Le Health (300791) down 1.51% [2] - San Quan Food (002216) down 1.01% [2] Capital Flow - The food processing sector experienced a net outflow of 54.62 million yuan from institutional investors, while retail investors saw a net inflow of 55.69 million yuan [2] - The overall net outflow from retail investors was 1.06 million yuan [2] Individual Stock Capital Flow - Notable capital flows included: - Shuanghui Development (000895) with a net inflow of 33.81 million yuan from institutional investors [3] - Hai Xin Food (002702) had a net inflow of 17.58 million yuan from institutional investors [3] - Xian Le Health (300791) saw a net inflow of 6.75 million yuan from retail investors [3]

Core Viewpoint - Haixin Food expects a net profit attributable to shareholders of -52 million to -37 million yuan for the fiscal year 2025, representing a year-on-year decline of 0.15% to 40.76% [1] Group 1: Financial Performance - The anticipated decline in net profit is primarily due to the ramp-up phase of the production capacity at its subsidiary, Fujian Changheng Food Co., Ltd., which commenced operations in the second half of 2024 [1] - The sales performance of new product categories has not yet reached expected levels, contributing to the overall decline in revenue [1] Group 2: Operational Challenges - The company is continuously increasing investments in channel development and brand promotion, which adds to the fixed costs during this transitional period [1] - A prudent accounting approach led the company to conduct impairment testing on assets related to its wholly-owned subsidiary, Zhejiang Yujie Food Co., Ltd., resulting in the recognition of goodwill impairment provisions [1]

Core Viewpoint - Company Haixin Food (002702) expects a net loss attributable to shareholders of 37 million to 52 million yuan for the year 2025, indicating a similar loss compared to the previous year [4] Financial Performance - The expected net profit loss for 2025 is between 37 million and 52 million yuan, compared to a loss of 36.94 million yuan in the same period last year [4] - The expected non-recurring net profit loss is projected to be between 45 million and 62 million yuan, compared to a loss of 43.58 million yuan in the previous year [4] - Basic earnings per share are estimated to be between -0.0666 yuan and -0.0936 yuan [4] Valuation Metrics - The company's price-to-book ratio (LF) is approximately 3.57 times, and the price-to-sales ratio (TTM) is about 2.43 times based on the latest closing price [4] - Historical price-to-earnings ratio trends indicate significant fluctuations, with the company experiencing negative earnings in recent years [5][6][19] Business Operations - The primary business activities of the company include the production and sale of frozen fish and meat products, frozen rice and noodle products, frozen dishes, and ambient fish and meat products [13] - The anticipated performance decline is attributed to several factors, including the ramp-up phase of its subsidiary Fujian Changheng Food Co., Ltd., which began production in the second half of 2024, leading to high fixed cost amortization [13] - The company is also investing in channel development and brand promotion, while new product categories have not yet achieved expected sales volumes [13]

证券代码：002702 证券简称：海欣食品 公告编号：2026-005 海欣食品股份有限公司 2025 年度业绩预告 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。 三、业绩变动原因说明 2025 年度公司业绩变动的主要原因是： 1、子公司福建长恒食品有限公司于 2024 年下半年投产，产能尚处爬坡阶段， 固定成本摊销较大； 2、新品类销量尚未形成规模，销售业绩未达预期； 一、本期业绩预计情况 1、业绩预告期间：2025年1月1日至2025年12月31日。 单位：万元 | 项 目 | | 本报告期 | | | 上年同期 | | --- | --- | --- | --- | --- | --- | | 归属于上市公司股东的净利润 | | -5,200 | ～ | -3,700 | -3,694.33 | | | 比上年同期下降 | 0.15% | ～ | 40.76% | | | 扣除非经常性损益后的净利润 | | -6,200 | ～ | -4,500 | -4,358.10 | | | 比上年同期下降 | 3.26% | ～ | 42.26% | | | ...

Core Viewpoint - The company is actively expanding its presence in the snack food sector by leveraging its differentiated advantages in seafood protein to enhance product competitiveness [1] Group 1: Product Development - The company has launched multiple ready-to-eat seafood snack products [1] - New products have successfully entered mainstream snack wholesale channels such as "Good Idea" and "Busy Snacks" [1] - The company is also diversifying its distribution channels by targeting regional supermarkets and community group buying [1] Group 2: Market Performance - The new products are performing well in the market, showing steady growth due to their unique seafood flavors and health attributes [1] - The company plans to increase marketing investments to expand collaborations with more snack wholesale channels [1] Group 3: Future Strategy - The company aims to enrich its product flavors and specifications to drive rapid growth in the snack food business, positioning it as a new growth point [1]

Group 1: Product Performance and Market Strategy - The abalone product series maintains a good reputation and brand recognition in the high-end dining and gifting market, leveraging high-quality raw materials and advanced processing techniques [1] - The company is exploring diverse consumption scenarios such as family dining and ready-to-eat snacks to enhance product value, while optimizing channel structure to tap into market potential [1] - The seafood segment is transitioning from raw material supply to end-consumer products, enhancing overall value chain efficiency [1] Group 2: Profitability and Cost Management - There is continuous potential for optimizing product gross margins through various initiatives, including streamlining the product matrix and eliminating low-margin SKUs [2] - The company is focusing resources on high-margin categories such as hot pot products and premium seafood, while implementing refined supply chain management to reduce costs across procurement and production [2] - As revenue scales up, the overall gross margin is expected to improve [2] Group 3: New Product Development - The company emphasizes R&D, leveraging its seafood protein resources to develop healthy, high-quality new products that meet current consumer health trends [3] - New products include low-calorie, high-protein items like simulated crab claws and cod roe packages [3] Group 4: Snack Business Development - The company is actively expanding into the snack sector, utilizing differentiated seafood protein advantages to build product competitiveness [4] - Several ready-to-eat seafood snack products have been launched and successfully entered mainstream retail channels, showing steady growth in market performance [4] - Future plans include increasing market promotion investments, expanding snack retail partnerships, and diversifying product flavors and specifications to drive rapid growth in the snack business [4]

Core Insights - The company has successfully entered the Sam's Club retail channel and launched customized products, which will enhance brand image and product value [1] - The related business is currently in its early development stage, and the company aims to seize channel opportunities, although significant growth and profitability from the new channel will take time to materialize [1]

Core Viewpoint - The company is focusing on the development of new products in the hot pot meatball category while ensuring product quality and optimizing existing offerings [1] Group 1: Product Development - The company is conducting research and development for new products in the hot pot meatball category [1] - There is an emphasis on optimizing existing products and creating combinations to meet market demands [1] - The company plans to continue investing in R&D to achieve breakthroughs in product formulation and processing technology [1]