Anjoy food(SH:603345) Ge Long Hui A P P·2025-08-26 07:22Core Viewpoint - Ping An Securities report indicates that Anjuke Foods experienced a slight revenue growth of 0.80% year-on-year in the first half of 2025, but net profit declined by 15.79% due to rising raw material costs [1] Financial Performance - The company achieved operating revenue of 7.604 billion yuan in the first half of 2025 [1] - The net profit attributable to shareholders was 676 million yuan, reflecting a year-on-year decrease of 15.79% [1] Product Segment Analysis - Frozen prepared foods generated revenue of 3.759 billion yuan, down 1.94% year-on-year [1] - Frozen dishes saw revenue of 2.416 billion yuan, marking a growth of 9.40% year-on-year [1] - Frozen noodles and rice products reported revenue of 1.241 billion yuan, a decline of 3.89% year-on-year [1] - Agricultural and other products achieved revenue of 181 million yuan, down 4.57% year-on-year [1] - Only frozen dishes recorded positive growth among the product segments [1] Strategic Acquisitions - In July 2025, the company completed the acquisition of 70% of Jiangsu Dingwei Thai Food Co., Ltd. and 100% of Dingyifeng Food (Taicang) Co., Ltd. [1] - This acquisition allows the company to enter the frozen baking sector, which has good growth potential [1] - The company plans to integrate Dingwei Thai's advantages in high-end cod fish paste products and the comprehensive layout in the frozen baking sector [1] Management and Market Position - The company benefits from a strong management team, stable distributors, and accumulating scale advantages, which create competitive barriers [1] - There is optimism regarding the company's continued efforts in the frozen food and prepared dishes sectors [1]