Ge Long Hui A P P·2025-08-26 06:36Core Viewpoint - The report from Guohai Securities indicates that Qiaqia Foods is experiencing significant declines in net profit for the first half of 2025, with a year-on-year decrease of 73.68% to 0.89 billion yuan, and a further decline of 88.17% in Q2 to 0.11 billion yuan. The company is expected to face short-term operational pressures but anticipates recovery in revenue and profit as raw material prices stabilize [1] Financial Performance - In H1 2025, the net profit attributable to the parent company was 0.89 billion yuan, down 73.68% year-on-year [1] - In Q2 2025, the net profit attributable to the parent company was 0.11 billion yuan, down 88.17% year-on-year [1] - The non-recurring net profit was -0.15 billion yuan, indicating a shift from profit to loss year-on-year [1] Profit Outlook - Short-term profit pressures are attributed to rising raw material prices, but there is an expectation for margin recovery as these prices decline [1] - The company is focusing on product innovation and differentiation in key categories to drive revenue growth [1] Revenue Growth Strategy - Qiaqia Foods plans to enhance its product lineup with new offerings such as flavored seeds, ice cream with seed kernels, and various nut products, which are expected to optimize product structure [1] - The company aims to deepen channel penetration by increasing investments in large-scale snack stores, membership stores, and O2O initiatives, while also enhancing online presence through new product launches and content marketing [1] - Internationally, the company is focusing on Southeast Asia and expanding into mainstream channels in North America and Japan to increase terminal coverage [1] Market Position - Qiaqia Foods is recognized as a leading player in China's snack food industry, holding a significant market share in the seed industry [1] - The nut segment is identified as a second growth curve with substantial growth potential, alongside active expansion into other product categories [1]