Haixin Foods (SZ:002702) Jing Ji Guan Cha Wang·2026-02-13 02:51Core Viewpoint - The company HaiXin Food (002702) has announced a projected net loss for 2025, alongside delays in fundraising projects and early-stage development in new retail channels [1]. Financial Performance - The company expects a net profit attributable to shareholders for 2025 to be between -52 million yuan and -37 million yuan, primarily due to factors such as the ramp-up phase of its subsidiary Fujian Changheng Food's production capacity, underperformance in new product sales, increased channel investments, and goodwill impairment [2]. Project Progress - The construction period for the "Deep Processing of Aquatic Products and Frozen Dishes Project" has been extended from December 2025 to June 2026 due to delays in the installation of key equipment, although the fundraising plan remains unaffected [3]. Business Development - The company's products have successfully entered Sam's Club, utilizing a customized cooperation model. In January 2026, the company indicated that this channel is in the early development stage, requiring time for profitability, and plans to deepen cooperation with leading retailers. The company is actively expanding its snack food business, having launched ready-to-eat aquatic products and entered mass retail channels such as Hao Xiang Lai and Li Shi Hen Mang. Additionally, the abalone product line is enhancing value through scenario innovation, with the aquatic segment extending towards fresh and ready-to-eat products [4]. Stock and Fund Performance - In early February 2026, the company's stock price experienced consecutive increases, with a single-day rise of 5.44% on February 5, resulting in a total market capitalization of approximately 4.096 billion yuan. Changes in holdings by institutions such as CITIC Prudential Fund and Jinyuan Shun'an Fund have attracted market attention [5]. Future Development - The company plans to focus on four major segments over the next 2-3 years: solidifying its core hot pot meatball business, developing deep processing of aquatic products, expanding snack foods, and entering the baking business, while emphasizing that the realization of these plans is subject to various market factors [6].