Ge Long Hui A P P·2025-08-18 07:55Core Viewpoint - Guanyuan Food's net profit attributable to shareholders for H1 2025 is 0.75 billion, a year-on-year decrease of 55.2%, while Q2 2025 shows a net profit of 0.22 billion, down 71.0% year-on-year [1] Group 1 - The "old three varieties" performed steadily, with e-commerce and direct sales in supermarkets showing rapid growth [1] - Both e-commerce and direct sales channels achieved positive growth, while distribution channels faced pressure [1] - The company is currently in a transformation adjustment period, leading to fluctuations in revenue and performance [1] Group 2 - With channel adjustments in place and new products being launched, the company is expected to see a rebound in revenue [1] - The company is a leading player in the flavored nut sector, with years of industry experience and strong product quality and R&D capabilities [1] - Following the completion of channel structure adjustments, the company is anticipated to return to a growth trajectory in revenue [1] Group 3 - Based on the performance in H1 2025, the profit forecast has been adjusted, while maintaining a "buy" rating [1]