百利食品完成北交所上市辅导，调味品企业密集冲刺资本市场

Core Viewpoint - Guangdong Baile Food Co., Ltd. has successfully passed the listing guidance acceptance for the Beijing Stock Exchange, despite challenges such as family control exceeding 80% and slowing performance growth [1][2][4] Company Summary - Baile Food was established in 2012 with a registered capital of 178 million yuan, focusing on the production, research, and sales of Western compound condiments [2] - The company plans to issue up to 54 million shares to raise approximately 1.164 billion yuan for various projects, including a national headquarters and a smart factory [2] - The company reported net profits of 220 million yuan and 276 million yuan for 2023 and 2024, respectively, with a weighted average return on net assets of 37.09% and 32.58% [2][4] Industry Summary - The condiment industry is experiencing a "capitalization wave," with several companies, including Yao Mazi and Tianwei Food, also pursuing listings on the Beijing Stock Exchange [1][7] - Major players like Haitian Flavoring and Tianwei Food are seeking to expand internationally through listings on the Hong Kong Stock Exchange [9] - The competition in the Western condiment market is intensifying, with established international brands and emerging local companies increasing market pressure [5][7]