研报掘金丨华福证券：维持天味食品“买入”评级，内生外延依然具备较高发展势能

Core Viewpoint - Tianwei Food's net profit attributable to shareholders for the first half of the year was 190 million yuan, a year-on-year decrease of 23.01% [1] - In Q2 2025, the company's net profit attributable to shareholders was 115 million yuan, showing a year-on-year increase of 62.72% [1] - The Q2 operational performance rebounded, indicating a gradual recovery in profitability driven by cost optimization and improved expenses [1] Financial Performance - The net profit for the first half of the year was 190 million yuan, reflecting a decline of 23.01% compared to the previous year [1] - The Q2 net profit of 115 million yuan marked a significant increase of 62.72% year-on-year [1] Operational Insights - The company is experiencing a rebound in operational performance in Q2, suggesting a recovery in profitability [1] - Key drivers for this recovery include cost optimization and improvements in expenses [1]