老字号转型进入“深水区”，全聚德上半年营收6.3亿元

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, indicating challenges in its traditional business model while attempting to innovate and diversify its offerings [1][2]. Financial Performance - Revenue for the first half of 2025 was 630 million yuan, a year-on-year decrease of 8.34% [1]. - Net profit attributable to shareholders was 12.38 million yuan, down 57.79% year-on-year [1]. Business Transformation - The company has been focusing on transforming its traditional dining experience by introducing innovative dining concepts and diversifying its offerings to attract local consumers and tourists [1]. - New initiatives include the "Wang Tian Er" rooftop theme restaurant and the "Quanjude·You Mian Er" store-in-store concept, which focuses on noodle dishes [1]. - The company is also exploring cultural experiences through its museum and various activities, enhancing its brand presence [1]. Product Development - The company has launched several new products in its food business, including unique duck snacks and ready-to-eat items, which have gained popularity among younger consumers [1]. - The introduction of seasonal innovative pastries and specialty drinks reflects the company's adaptation to new consumer trends [1]. Online Growth - The company has seen significant growth in its online channels, with a notable increase in order volume and the opening of satellite stores focused on delivery [2]. - Twelve of its stores were included in Meituan's 2025 must-order list, highlighting the effectiveness of its marketing strategies [2]. Challenges and Outlook - The transformation efforts have led to short-term profit declines due to substantial investments in theme restaurant renovations, new product development, and marketing [2]. - The company acknowledges that the market cultivation and return on investment will require time, and the effectiveness of its transformation will need further evaluation [2].