一鸣食品：预计2025年净利同比增长62.38%至90.02%

Core Viewpoint - Yiming Food (605179.SH) expects a net profit attributable to shareholders of the parent company to reach between 47 million to 55 million yuan in 2025, representing a year-on-year growth of 62.38% to 90.02% [1]. Group 1: Financial Performance - The expected net profit excluding non-recurring gains and losses is projected to be between 46 million to 54 million yuan, with a year-on-year increase of 57.43% to 84.81% [1]. - The company's performance changes are primarily driven by the growth of its milk bar stores and enhanced product strength [1]. Group 2: Business Strategy - The company focuses on increasing customer traffic in milk bar stores and strengthening brand positioning, which has solidified its brand power over three years [1]. - Store image upgrades and channel innovations have led to over 6% growth in customer traffic for milk bar stores, laying a solid offline foundation for revenue growth [1]. Group 3: Product Development - Continuous optimization of core products and the development of new products have enriched the product line across all time periods [1]. - Sales of low-temperature milk have maintained high growth, while classic categories like sandwiches have seen over 10% year-on-year sales growth [1]. - The new product, coconut crab stick sandwich, has achieved daily sales exceeding 10,000 units, becoming a bestseller [1]. Group 4: Market Expansion and Efficiency - The company has deepened its multi-channel layout, achieving significant growth in direct sales, distribution, and e-commerce channels, which has driven steady revenue growth [1]. - Enhanced cost control across the entire supply chain and optimized operational processes have improved overall efficiency, solidifying the profit foundation alongside revenue growth [1].