Core Viewpoint - The announcement from Haixin Food indicates that the controlling shareholder, Teng Yongxiong, has pledged a portion of his shares to meet personal funding needs, which may raise concerns about the company's financial stability and shareholder confidence [1] Summary by Categories Share Pledge Details - Teng Yongxiong has pledged 6.5 million shares, which represents 8.01% of his total holdings and 1.19% of the company's total share capital [1] Pledge Purpose - The purpose of the share pledge is for personal funding requirements [1] Pledge Creditor - The creditor for the pledged shares is Xiamen Hengxin Microfinance Co., Ltd. [1]

海欣食品股份有限公司 关于控股股东所持部分股份办理质押的公告 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。 海欣食品股份有限公司（以下简称"公司"）近日接到公司控股股东滕用雄 先生的通知，获悉其所持公司的部分股份办理了质押业务，具体事项如下： 一、股东股份质押的基本情况 证券代码：002702 证券简称：海欣食品 公告编号：2025-046 （一）股东股份质押基本情况 | | 雄 | 滕用 | | | 名称 | 股东 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 是 | | 一致行动人 | 大股东及其 | 股东或第一 | | 是否为控股 | | | | 650.00 | | | （万股） | 押数量 | 本次质 | | | | | 8.01% | | 比例 | 股份 | 所持 | | 占其 | | | | 1.19% | | 比例 | 股本 | 司总 | | 占公 | | | | 否 | | 售类型） | 注明限 | （如是， | 限售股 | 是否为 | | | | 否 ...

Group 1: Research Basic Information - The research object is Haixin Food, belonging to the food and beverage industry, and the reception time was on October 30, 2025. The listed company's reception staff included Deputy General Manager and Board Secretary Zheng Ming, and Securities Affairs Representative Yang Bin [17] Group 2: Detailed Research Institutions - The reception object type is a securities company, specifically CITIC Securities, and the relevant personnel are Shi Longyang and Xiao Ruihao [20] Group 3: Core Views of the Report - In the face of a challenging consumption environment and intensified industry competition, the company focuses on "improving profit quality" and "enhancing operational resilience." Through strategic adjustments, the overall gross - margin structure in the first three quarters of 2025 has continuously improved, with an increase in the sales proportion of high - margin products and a reduction in the sales of negative - margin products [22] - The improvement in gross margin is mainly due to structural adjustments, including product structure optimization, precise cost control, and lean management on the production side [22] - The常温 leisure food segment is the biggest highlight, with its income in the first three quarters of this year exceeding that of the whole last year and showing significant year - on - year growth. The hot pot ball and slip category shows certain resilience despite a year - on - year decline in income, and the frozen dishes (cold - chain baking) category is in the stage of strategic investment and model exploration [23] - The company adheres to "product - driven + brand - pulling" and launched multiple new products in the third quarter of this year to meet the trends of health and convenience [23] - The growth of the company's leisure food is mainly due to conforming to the "health and convenience" consumption trends and effectively cooperating with mainstream snack chain channels [23] - For the hot pot ball and slip category, the company's strategy is to "stabilize market share and improve product structure" to achieve the dual goals of stable share and increased profitability [24]

Core Viewpoint - Haixin Food reported a significant decline in revenue and net profit for the first three quarters of 2025, indicating ongoing financial struggles and operational challenges [1] Financial Performance - For the first three quarters of 2025, Haixin Food achieved an operating revenue of approximately 970 million yuan, a year-on-year decrease of 15.05% [1] - The net profit attributable to shareholders was approximately -28.19 million yuan, reflecting a year-on-year decline of 17.94% [1] - The company experienced negative cash flow from operating activities, with a decrease of 320.32% year-on-year [1] Operational Challenges - Haixin Food's product offerings include frozen fish and meat products, frozen rice and noodle products, frozen dishes, and ambient temperature products [1] - The company faced losses in the second to fourth quarters of 2024, with overall performance also in the red for that year [1] - In 2025, the first quarter showed profitability, but both revenue and net profit declined year-on-year [1] - The second and third quarters of 2025 also resulted in losses for the company [1] Market Dynamics - The decline in cash flow was attributed to decreased sales and adjustments in distributor contract cycles to align with the natural year [1]

Group 1: Financial Performance - The overall consumption environment is challenging, with a decline in revenue for the first three quarters compared to the previous year [2] - Despite revenue pressure, the company has improved its gross margin structure, with high-margin products (over 20% margin) increasing their sales proportion [2][3] - The company has successfully reduced revenue from low-margin products, enhancing overall profitability [2] Group 2: Strategic Adjustments - Key measures for improving gross margin include: 1. Product structure optimization by eliminating unprofitable SKUs and focusing resources on high-margin core products [3] 2. Precise cost control through centralized procurement and supply chain optimization, leading to a decrease in the cost of key raw materials [3] 3. Lean management in production to reduce waste and improve output efficiency [3] Group 3: Business Segments - The ambient snack food segment is a significant growth driver, with revenue exceeding last year's total and showing substantial year-on-year growth [3] - The hot pot meatball segment, while experiencing a revenue decline, has shown resilience [3] - Frozen dishes are currently in a phase of strategic investment and model exploration [3] Group 4: Product Development and Branding - The company has launched several new products in Q3, including air fryer series and various seafood items, aligning with health and convenience trends [4] Group 5: Market Trends and Consumer Preferences - The growth in snack foods is driven by trends towards health and convenience, with product formulations optimized for natural ingredients and smaller, ready-to-eat packaging [5] - The company has effectively expanded its presence in mainstream snack retail channels [5] Group 6: Hot Pot Meatball Strategy - The strategy for the hot pot meatball segment focuses on maintaining market share and enhancing profitability through: 1. Deepening traditional channel engagement and optimizing in-store displays [6] 2. Expanding into emerging channels like community group buying and real-time retail platforms [6] 3. Promoting high-value products to improve overall gross margin [6]

Core Viewpoint - The company has disclosed its third-quarter financial report for 2025, ensuring the accuracy and completeness of the information presented, and has made adjustments to its fundraising investment scale and internal investment structure based on its development plans and actual fundraising usage [9][22][76]. Financial Data - The third-quarter financial report has not been audited [7]. - The company reported a total asset impairment and credit impairment loss of 4.5716 million yuan for the first three quarters of 2025 [77][81]. - The company has confirmed a reversal of bad debt provisions amounting to 3.2799 million yuan for accounts receivable and 0.3777 million yuan for other receivables during the same period [79][80]. Shareholder Information - The company will hold its first extraordinary general meeting of 2025 on November 17, 2025, to discuss various proposals, including adjustments to the fundraising investment scale [26][39]. - The meeting will allow for both on-site and online voting, with specific timeframes for participation [41][54]. Board and Supervisory Committee Decisions - The board of directors and the supervisory committee have both approved the third-quarter report and the adjustments to the fundraising investment scale and internal investment structure, emphasizing that these decisions do not harm the interests of the company or its shareholders [10][33][72]. - The adjustments to the fundraising investment scale are based on the actual progress of fundraising projects and are aimed at optimizing resource allocation [65][69]. Regulatory Compliance - The company has ensured that all adjustments and decisions comply with relevant regulations and guidelines set forth by the Shenzhen Stock Exchange and other regulatory bodies [71][73].

Group 1 - The core viewpoint of the article is that Haixin Food (002702.SZ) reported a decline in revenue and a net loss for the first three quarters of 2025 [1] Group 2 - The company achieved an operating income of 970 million yuan, representing a year-on-year decrease of 15.05% [1] - The net loss attributable to shareholders of the listed company was 28.1858 million yuan [1] - The net loss attributable to shareholders after deducting non-recurring gains and losses was 35.2698 million yuan [1]

北京商报讯（记者 郭秀娟 王悦彤） 10月29日，海欣食品发布2025年三季报，公司第三季度实现营收 3.63亿元，同比下降14.82%；归母净利润为-788.17万元。前三季度实现营收9.7亿元，同比下降 15.05%；归母净利润为-2818.58万元。 ...

海欣食品股份有限公司 信息披露暂缓与豁免制度 （2025 年 10 月修订） 第一章 总 则 第一条 为规范海欣食品股份有限公司（以下简称公司）信息披露暂缓与豁 免行为，确保公司及相关信息披露义务人（以下简称信息披露义务人）依法合规 地履行信息披露义务，保护投资者的合法权益，根据《中华人民共和国公司法》 《中华人民共和国证券法》《上市公司信息披露管理办法》《上市公司信息披露暂 缓与豁免管理规定》以及有关法律、法规、规章和《海欣食品股份有限公司章程》 （以下简称《公司章程》）、《公司信息披露管理制度》的规定，结合公司信息披 露工作的实际情况，制定本制度。 第二条 公司和信息披露义务人按照《深圳证券交易所股票上市规则》及交 易所其他相关业务规则的规定，办理信息披露暂缓、豁免业务的，适用本制度。 （一）相关信息尚未泄露； （二）有关内幕信息知情人已书面承诺保密； 第二章 信息披露暂缓与豁免的适用情形 第三条 公司和信息披露义务人有确实充分的证据证明拟披露的信息涉及国 家秘密或者其他因披露可能导致违反国家保密规定、管理要求的事项（以下统称 国家秘密），依法豁免披露。 公司和信息披露义务人不得通过信息披露、投资者互动问 ...

海欣食品股份有限公司 子公司管理制度 （2025 年 10 月修订） 第一章 总 则 公司各职能部门应依照本制度及相关内控制度，及时、有效地对子公司做 好指导、监督等工作。 受公司委派并出任子公司的董事、监事、高级管理人员和其他有关人员是 公司的授权代表，依据公司的授权行使相关职权，承担相应的责任，并对本制度 的有效执行负责。 第五条 子公司在公司总体方针目标框架下，独立经营和自主管理，合法有 效地运作企业法人财产。同时，应当执行母公司对子公司的各项制度规定。 第二章 规范运作 第六条 在公司总体目标框架下，子公司应当依据《公司法》及有关法律法 规和子公司的公司章程的有关规定，结合自身特点，建立健全法人治理结构和内 部管理制度。 第七条 子公司可不成立董事会，只设立执行董事；子公司根据自身情况， 可不设监事会，只设 1-2 名监事。前述子公司经全体股东一致同意,也可以不设 监事。 第一条 为加强海欣食品股份有限公司（以下简称"公司"或"母公司"） 对子公司的管理，建立有效的管控与整合机制，促进子公司规范运作、有序健康 发展，提高公司整体运作效率和抗风险能力，切实维护公司和投资者利益，根据 《中华人民共和国公司 ...