南侨食品：2025年上半年归属净利润0.36亿元，泰国子公司营收规模持续增长

Core Insights - In the first half of 2025, the company reported a revenue of 1.555 billion yuan, a year-on-year decrease of 0.69% [1] - The total profit decreased by 68.77% to 49 million yuan, while the net profit attributable to shareholders fell by 72.00% to 36 million yuan, primarily due to the increase in raw material costs outpacing product price hikes [1] Revenue and Profit Performance - The company's revenue for the first half of 2025 was 1.555 billion yuan, reflecting a slight decline of 0.69% compared to the previous year [1] - Total profit for the period was 49 million yuan, down 68.77% year-on-year, and net profit attributable to shareholders was 36 million yuan, a decrease of 72.00% [1] Market Expansion and Strategy - The company is actively exploring lower-tier markets and refining its distributor channels, with a total of 471 distributors by the end of June 2025, an increase of 42 distributors or 9.79% year-on-year [1] - The company has made significant progress in expanding into Southeast Asian markets, with its subsidiaries in Hong Kong and Thailand showing continuous revenue growth [1] - The Thai subsidiary has localized production of pre-baked goods and is enhancing its capacity to meet customer demands more quickly and flexibly [1]