Jiahe Foods(SH:605300) Sou Hu Cai Jing·2025-08-31 03:59Core Insights - Jiahe Foods reported a significant decline in net profit for the first half of 2025, continuing the downward trend from 2024 [1][3] - Despite the overall decline in performance, the compensation for the company's vice president, Liu Xinren, increased, raising concerns about management accountability [1][3] Financial Performance - In 2024, Jiahe Foods' revenue was 2.311 billion yuan, a year-on-year decrease of 18.68%, and the net profit attributable to shareholders was 83.94 million yuan, down 67.43% [3][4] - For the first half of 2025, the company achieved revenue of 1.185 billion yuan, a year-on-year increase of 10.43%, but the net profit attributable to shareholders was only 12.43 million yuan, a drastic decline of 82.10% [3][4] - The net cash flow from operating activities for the first half of 2025 was -31.02 million yuan, a significant decrease of 142.30% compared to the same period last year, indicating potential cash flow issues [3][4] Management Compensation - Liu Xinren's compensation for 2024 was 926,700 yuan, showing little change from 2023, while Chairman Liu Xinrong's salary decreased from 2.091 million yuan in 2023 to 2.038 million yuan in 2024 [4][6] - Liu Xinrong remains the highest-paid executive in the company, being the only one with a salary exceeding one million yuan [4][6] Business Segments - The core product line of powdered fats saw a revenue decline of 6.38% in the first half of 2025, generating 550 million yuan [6] - Conversely, the coffee business, identified as a second growth curve for the company, reported a revenue increase of 66.80%, reaching 190 million yuan [6]