Anjoy food(SH:603345) Zhi Tong Cai Jing·2025-11-03 04:03Core Viewpoint - Anjiu Food (603345) reported a positive performance for Q3 2025, with revenue and net profit showing year-on-year growth, indicating a recovery in profitability amid industry price competition [1] Financial Performance - Q3 total revenue reached 3.766 billion yuan, a year-on-year increase of 6.61% [1] - Net profit attributable to shareholders was 273 million yuan, up 11.8% year-on-year [1] - Deducting non-recurring items, net profit was 264 million yuan, reflecting a 15.27% year-on-year growth [1] - The gross profit margin for Q3 was 19.99%, remaining stable year-on-year despite rising procurement costs for crayfish and fresh fish [1] Channel Performance - Revenue from various channels in Q3 included: - Distributors: 2.96 billion yuan, a decrease of 0.6% year-on-year - Direct sales: 317 million yuan, an increase of 68.1% year-on-year - Supermarkets: 220 million yuan, up 28.1% year-on-year - New retail and e-commerce: 270 million yuan, a growth of 38.1% year-on-year [1] - The company is focusing on embracing the customization trend in supermarkets and has made steady progress in expanding large supermarket clients [1] - There is a notable increase in revenue from new retail channels such as Hema [1] Strategic Initiatives - The company is actively seeking changes in both product and channel strategies, emphasizing new product development and upgrades [1] - The industry is experiencing a gradual recovery in profitability as price competition eases [1]