上市以来首次亏损！绝味食品最新公布

Core Viewpoint - The company, Juewei Foods, is expected to report a significant decline in revenue and net profit for 2025, marking its first annual loss since its listing in 2017, primarily due to structural adjustments in the consumer industry and increased operational pressures [1][9]. Group 1: Financial Performance - For 2025, Juewei Foods anticipates revenue between 5.3 billion to 5.5 billion yuan, representing a year-on-year decline of 12.09% to 15.29% [1]. - The net profit attributable to shareholders is projected to be between -160 million to -220 million yuan, with a net profit excluding non-recurring items expected to be between 70 million to 100 million yuan [1]. - In 2024, the net profit attributable to shareholders was 227 million yuan, with a net profit excluding non-recurring items of 203 million yuan [1]. Group 2: Store Operations - Juewei Foods has seen a net reduction of over 4,000 stores in 19 months, with the total number of stores dropping from 14,969 in June 2024 to 10,713 by January 20, 2026 [2]. - The company primarily relies on franchise stores for sales, and the decline in store numbers has significantly impacted its revenue, particularly in the fresh goods segment, which accounted for approximately 75.35% of total revenue in the first three quarters of 2025 [2]. Group 3: Strategic Adjustments - In response to the changing external environment, Juewei Foods is adjusting its store model, sales channels, and supply chain management, while also enhancing communication with franchisees [4]. - The company is exploring new store formats and has begun piloting new concepts in specific regions, including a foray into the fast-food sector with the launch of "Juewei Bao Bao" in Shenzhen [4][5]. - Additionally, Juewei Foods is diversifying its product offerings by venturing into snack retail channels and has opened a fresh marinated supermarket, "Juewei Fresh Marinated," in Changsha [7]. Group 4: Investment Losses - The primary reason for the company's losses is attributed to increased non-operating expenses and investment losses under equity method accounting, rather than a decline in its core business of leisure marinated products [9]. - Juewei Foods has faced ongoing investment losses since 2017, with multiple investments in various brands leading to significant financial strain [10]. - The company reported a decrease in the book value of long-term equity investments from 2.463 billion yuan to 2.383 billion yuan in the first half of 2025 [10]. Group 5: Regulatory Issues - In September 2025, Juewei Foods faced administrative penalties for violations related to information disclosure, resulting in fines for the company and several executives [12]. - The company was found to have understated its revenue from franchise store renovations over five years, totaling approximately 723 million yuan in unreported income [12].