SEAMILD FOODS(SZ:002956) Xin Lang Cai Jing·2025-08-26 00:42Core Insights - The company reported a revenue of 1.149 billion yuan for the first half of 2025, representing a year-on-year growth of 18.07% and a net profit attributable to shareholders of 81 million yuan, up 22.46% year-on-year [1] - The company is focusing on product innovation and channel expansion, particularly in the health sector, with a new health technology company established in August [3] Financial Performance - For the first half of 2025, the gross margin was 43.59%, an increase of 1.07 percentage points year-on-year, while the second quarter gross margin was 43.50%, up 2.64 percentage points year-on-year [2] - The company’s net profit margin for Q2 2025 was 5.46%, a slight increase of 0.18 percentage points year-on-year [2] Product and Regional Performance - In the first half of 2025, revenue from compound oatmeal grew by 27.6%, while pure oatmeal revenue increased by 13.2% [1] - The southern region generated 683 million yuan in revenue, a year-on-year increase of 20.14%, while the northern region saw a revenue increase of 13.34% [1] Strategic Initiatives - The company is enhancing its product structure by focusing on high-performing products such as organic and milk oatmeal, with compound oatmeal growing faster than pure oatmeal [3] - The company is expanding its sales channels, including offline networks and emerging channels like community group buying [3] Future Outlook - Revenue projections for 2025-2027 are estimated at 2.290 billion, 2.741 billion, and 3.309 billion yuan, with respective year-on-year growth rates of 20.78%, 19.69%, and 20.73% [3] - Expected net profits for the same period are projected at 170 million, 225 million, and 280 million yuan, with growth rates of 27.77%, 32.25%, and 24.25% respectively [3]