夫妻肺片没人吃了？ 紫燕食品营收连续下降

Core Viewpoint - The sales of "Couple's Lung Slice," a signature dish of Ziyan Food, are under pressure, with revenue contribution of 999.1 million yuan in 2024, a decrease of 108 million yuan from 2023, representing a year-on-year decline of 9.84% [1][4] Group 1: Financial Performance - Ziyan Food's operating revenue has been declining over the past two years, despite an overall increase in the number of stores [1] - The Q1 2025 report shows an operating revenue of 564 million yuan, a year-on-year decrease of 18.9%, and a net profit attributable to shareholders of 15.22 million yuan, down 71.8% year-on-year [3] - The company reported a net loss of 24.89 million yuan in Q4 2024 [3] Group 2: Product Performance - The sales volume of "Couple's Lung Slice" in 2024 was 9,694.6 tons, a decrease of 5.49% compared to the previous year, contributing to revenue of 999.1 million yuan, down 9.84% year-on-year [4] - In 2022 and 2023, the sales volume of this signature dish exceeded 10,000 tons, generating nearly 1.1 billion yuan in annual revenue [4] Group 3: Company Development and Projects - Ziyan Food, which was established in 1996 and went public in September 2022, initially had high expectations for future growth and planned multiple expansion projects [3][5] - Recent announcements indicate that several fundraising projects are progressing slowly, with some experiencing delays or adjustments [5] - The company has extended the timeline for the "Rongchang Food Production Base Phase II" project to April 2028, while also planning to use up to 470 million yuan of temporarily idle fundraising for cash management [5]