来伊份(603777) - 2025 Q2 - 季度财报

Definitions This chapter defines key terms such as company entities, business models, and quality management systems for clear report understanding Definitions of Common Terms This section defines key terms like company entities, business models, and strategic initiatives to ensure clear understanding of the report - Report defines "snack foods" as food consumed during leisure, travel, entertainment, or rest, excluding convenience foods and frozen foods, categorized as fast-moving consumer goods[9] - "Directly operated stores" refer to independent shops or counters opened, managed, and expensed by the company and its subsidiaries[9] - "Franchise" is a business model centered on franchising rights, where franchisees directly operate stores and purchase products from the company[9] - The "1+N" strategy is a diversified, synergistic development model, where a core entity drives the development of multiple related entities[10] Company Profile and Key Financial Indicators This section provides an overview of the company's basic information, contact details, and key financial performance Company Information This section outlines the company's basic registration details, confirming it as Shanghai Laiyifen Co., Ltd - Company's Chinese name is Shanghai Laiyifen Co., Ltd., abbreviated as Laiyifen[12] - The legal representative of the company is Yu Ruifen[12] Contact Person and Information This section provides the contact details for the company's Board Secretary - The Board Secretary is Lin Yun, with the contact address at Laiyifen Management Headquarters, No. 90 Guyi Road, Xuhui District, Shanghai[13] Brief Introduction to Changes in Basic Information This section lists the company's registered and office addresses, noting no changes during the reporting period - The company's registered address is No. 300 Jiufu Road, Jiuting Town, Songjiang District, Shanghai, and its office address is Laiyifen Management Headquarters, No. 90 Guyi Road, Xuhui District, Shanghai[14] Brief Introduction to Changes in Information Disclosure and Document Custody Locations This section details the company's information disclosure channels and report custody location, with no changes - Company information disclosure newspapers include "Shanghai Securities News", "China Securities Journal", "Securities Times", "Securities Daily", and the report website is http://www.sse.com.cn[15](index=15&type=chunk) Summary of Company Shares This section details the company's A-shares listed on the Shanghai Stock Exchange under code 603777 - The company's shares are RMB ordinary shares (A-shares), listed on the Shanghai Stock Exchange, with stock abbreviation "Laiyifen" and code 603777[16] Company's Key Accounting Data and Financial Indicators This section presents H1 2025 key accounting data, showing revenue growth but significant profit and cash flow declines 2025 H1 Key Accounting Data | Indicator | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,939,710,880.49 | 1,792,467,788.63 | 8.21 | | Total Profit | -41,519,121.10 | 18,995,225.58 | -318.58 | | Net Profit Attributable to Shareholders of Listed Company | -50,683,900.22 | 14,924,483.62 | -439.60 | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | -56,613,219.49 | -8,888,775.09 | -536.91 | | Net Cash Flow from Operating Activities | 22,395,425.16 | 105,048,937.04 | -78.68 | | Net Assets Attributable to Shareholders of Listed Company (Period End) | 1,659,939,422.42 | 1,733,448,502.54 | -4.24 | | Total Assets (Period End) | 3,037,219,923.25 | 3,164,288,546.69 | -4.02 | 2025 H1 Key Financial Indicators | Indicator | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (RMB/share) | -0.15 | 0.04 | -475.00 | | Diluted Earnings Per Share (RMB/share) | -0.15 | 0.04 | -475.00 | | Basic Earnings Per Share After Deducting Non-Recurring Gains and Losses (RMB/share) | -0.17 | -0.03 | -466.67 | | Weighted Average Return on Equity (%) | -2.98 | 0.81 | Decrease 3.79 percentage points | | Weighted Average Return on Equity After Deducting Non-Recurring Gains and Losses (%) | -3.33 | -0.48 | Decrease 2.85 percentage points | - Net profit attributable to shareholders of the listed company decreased by 439.60% year-on-year, primarily due to a decrease in sales gross profit[21] - Net cash flow from operating activities decreased by 78.68% year-on-year, primarily due to a decrease in sales gross profit[21] Non-Recurring Gains and Losses Items and Amounts This section details H1 2025 non-recurring gains and losses, totaling RMB 5.93 million, from financial assets and subsidies 2025 H1 Non-Recurring Gains and Losses Items | Non-Recurring Gains and Losses Item | Amount (RMB) | | :--- | :--- | | Disposal gains/losses on non-current assets | 366,197.52 | | Government grants recognized in current profit or loss | 1,410,753.90 | | Fair value changes and disposal gains/losses on financial assets and liabilities held by non-financial enterprises, excluding effective hedging related to normal business operations | 10,233,864.02 | | Fund occupation fees received from non-financial enterprises recognized in current profit or loss | 298,092.01 | | Other non-operating income and expenses apart from the above | 664,943.87 | | Less: Income tax impact | 5,910,291.68 | | Minority interest impact (after tax) | 1,134,240.37 | | Total | 5,929,319.27 | Management Discussion and Analysis This section discusses the company's industry, business operations, core competencies, and financial performance Explanation of the Company's Industry and Main Business Operations During the Reporting Period This section analyzes the snack food industry and confirms no significant changes to the company's main business - China's snack food industry market size is steadily growing, becoming a trillion-RMB market, with retail sales expected to increase from nearly 1.6 trillion RMB to 1.7 trillion RMB from 2022 to 2025[25] - In H1 2025, multiple departments intensively introduced consumption policies, emphasizing boosting consumption and expanding domestic demand, providing strong support for the snack food industry's development[25] - The company is positioned as an industry ecosystem enterprise driven by technology empowerment, industry, and investment, with no significant changes to its main business[32] Industry Overview The snack food industry is growing, driven by policy support and evolving consumer trends towards value, health, and emotional consumption - In March 2025, the National People's Congress emphasized boosting consumption as a top priority for the year, with economic policies shifting more towards improving livelihoods and promoting consumption[25] - In March 2025, the National Health Commission, in conjunction with the State Administration for Market Regulation, issued a newly revised "National Food Safety Standard for Prepackaged Food Labels General Rules", explicitly prohibiting the use of terms like "no added" or "zero added" for prepackaged foods[26] - From 2023 to 2028, China's snack food industry market size is expected to grow at a compound annual rate of approximately 10%, reaching 2.6 trillion RMB by 20