惠发食品2025年业绩预亏，高管、股东频频减持

Core Viewpoint - Huifa Food is expected to report a net loss for the year 2025, following a trend of poor financial performance in recent years, with significant losses reported in previous years and the first three quarters of 2025 [2][3][4]. Financial Performance - The company anticipates a negative net profit for 2025, with a commitment to expedite financial accounting and disclose a formal earnings forecast [3]. - Historical revenue figures show Huifa Food's operating income from 2021 to 2024 as follows: 1.651 billion, 1.581 billion, 1.997 billion, and 1.925 billion, with net losses of 138 million, 120 million, a small profit of 0.755 million, and a loss of 165.859 million respectively [3]. - In the first three quarters of 2025, Huifa Food reported an operating income of 1.064 billion, a year-on-year decrease of 18.31%, and a net loss of 39.217 million, indicating a worsening loss compared to the same period in 2024 [3]. Shareholder Actions - In 2025, several shareholders and executives of Huifa Food have engaged in share reductions, with specific plans announced for the sale of shares by board members and executives [4]. - Notably, the company’s shareholder, Hezhong Investment Co., Ltd., has also conducted multiple share reductions, including a sale of 2 million shares on February 28, 2025, amounting to approximately 32.688 million [5]. Regulatory Issues - Huifa Food received a warning letter for inaccurate disclosure regarding its 2024 annual performance, with key executives held responsible for this issue [5]. - The company has faced challenges in its business, particularly in the pre-prepared food sector, which has encountered significant development challenges and the loss of military supply qualifications [5].