股票今起停牌！华莱士品牌经营方华士食品拟在新三板终止挂牌

Core Viewpoint - Huashi Food has announced its intention to terminate its listing on the New Third Board, aiming to enhance operational efficiency and reduce costs, with a focus on its core business after delisting [1][3]. Group 1: Company Overview - Huashi Food was listed on the New Third Board in April 2016, primarily selling pre-packaged food and related equipment to Wallace brand stores [2]. - The first Wallace restaurant opened in Fuzhou, Fujian in 2000, specializing in fried chicken, hamburgers, and fries, with an average consumer spending of approximately 17 yuan [2]. - As of January 20, 2026, Wallace has 19,751 stores nationwide, leading in the fried chicken and hamburger category, although the number of stores has slightly decreased over the past year [2]. Group 2: Business Model - Wallace does not utilize a franchise model for rapid expansion; instead, it operates on a "Fujian model," which emphasizes self-funding, employee partnerships, and direct management [2]. - Huashi Food's revenue is primarily derived from product sales, which include raw materials, packaging, and equipment for Wallace stores, as well as consulting services for restaurant design and operations [2]. Group 3: Financial Performance - In the first half of 2025, Huashi Food's revenue decreased by 0.49% to 4.625 billion yuan, while net profit attributable to shareholders increased by 35.32% to 122 million yuan [3]. - From 2021 to 2024, Huashi Food's revenue growth has slowed, with year-on-year growth rates of 64.44%, 24.36%, 23.45%, and 13.31% respectively; net profit growth has fluctuated significantly during the same period [3]. - As Huashi Food plans to delist, other restaurant brands like COMMUNE, Big Pizza, and Yuanji Food are pursuing listings on the Hong Kong Stock Exchange [3].