Company Overview - Jiangxi Huangshanghuang Group Food Co., Ltd. is located in Nanchang, Jiangxi Province, established on April 1, 1999, and listed on September 5, 2012. The company specializes in the development, production, and sales of marinated meat products and quick-consumption cold dishes [2] - The main business revenue composition includes fresh products (60.71%), rice products (31.67%), slaughter processing (4.12%), packaging products (1.97%), other (supplementary) (1.49%), and testing services (0.04%) [2] - The company belongs to the food and beverage industry, specifically in the leisure food and cooked food sector, and is involved in concepts such as prepared dishes, small plates, new retail, leisure food, and community group buying [2] Financial Performance - For the first half of 2025, the company achieved operating revenue of 984 million yuan, a year-on-year decrease of 7.19%, while the net profit attributable to the parent company was 76.92 million yuan, a year-on-year increase of 26.90% [2] - Cumulative cash dividends since the company's A-share listing amount to 518 million yuan, with 169 million yuan distributed over the past three years [3] Stock Market Activity - As of September 18, the company's stock price decreased by 2.02%, trading at 13.11 yuan per share, with a total market capitalization of 7.335 billion yuan [1] - Year-to-date, the stock price has increased by 55.70%, with a recent decline of 7.22% over the last five trading days [1] - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent occurrence on August 12, where it recorded a net buy of -36.98 million yuan [1] Shareholder Information - As of September 10, the number of shareholders reached 41,200, an increase of 13.74%, with an average of 12,396 circulating shares per person, a decrease of 12.08% [2] - As of June 30, 2025, Hong Kong Central Clearing Limited is the eighth largest circulating shareholder, holding 1.4452 million shares as a new shareholder [3]

Core Viewpoint - The article discusses the controversy surrounding the use of pre-prepared dishes by the Green Tea restaurant chain, highlighting the discrepancy between their marketing claims of "freshly made" food and the reality of using pre-prepared ingredients, which has raised consumer concerns about transparency and food quality [3][6][9]. Group 1: Company Practices - Green Tea restaurant has removed the signage stating "no pre-prepared dishes, freshly made" from its storefronts, indicating a shift in their marketing approach [5][8]. - The restaurant collaborates with 205 third-party food processing companies to prepare most of its ingredients, which allows for lower costs and increased operational efficiency [6][9]. - Despite promoting certain dishes as "freshly made," the reliance on a central kitchen for food preparation has led to consumer backlash regarding the freshness and quality of the food served [6][9]. Group 2: Consumer Reactions - Consumers have expressed concerns on social media about the lack of transparency regarding the use of pre-prepared dishes, feeling that their right to know about the food they consume is being violated [6][9]. - Incidents of pre-prepared dishes being sold without proper labeling have further fueled consumer distrust, as seen in the case of the "Buddha Jumps Over the Wall" dish that was sold without indication of being pre-prepared [9]. - The article notes a polarized view among consumers regarding pre-prepared dishes, with some accepting them for convenience while others demand fresh, made-to-order meals [6][9]. Group 3: Financial Performance - Green Tea Group reported a positive earnings forecast, expecting a net profit of approximately 247-254 million RMB for the first half of the year, marking an increase of nearly 40% [9]. - The growth in profit is attributed to the continuous expansion of its store network, with over 500 locations established across various provinces and cities in China [9].

Core Viewpoint - The controversy surrounding "pre-made dishes" has led to a backlash against the term "made-to-order" in restaurants, particularly affecting the Green Tea restaurant chain, which has removed its "no pre-made dishes, made-to-order" signage from its locations [1][3]. Group 1: Consumer Sentiment and Reactions - Consumers have expressed concerns over Green Tea restaurant's use of pre-made dishes without prior notification, claiming it infringes on their right to know [4]. - Social media reactions show a polarized view on pre-made dishes, with some customers worried about freshness and quality, especially after incidents where pre-made items were not clearly labeled [7]. Group 2: Operational Practices - Green Tea restaurant has partnered with 205 third-party food processing companies to streamline operations, allowing for lower costs and increased efficiency by outsourcing most food preparation [4]. - The restaurant emphasizes "made-to-order" in its marketing while relying on a central kitchen to enhance service speed and reduce operational costs, creating a contradiction in its messaging [4]. Group 3: Regulatory Scrutiny - The China Securities Regulatory Commission has inquired about Green Tea restaurant's food safety practices and the proportion of pre-made dishes in its offerings, indicating regulatory pressure on the company [6]. Group 4: Financial Performance - Green Tea Group went public in May 2023 and reported a positive earnings forecast in August, expecting a net profit of approximately 247-254 million RMB for the first half of the year, marking a nearly 40% increase [8]. - The growth is attributed to the expansion of its restaurant network, with over 500 locations across 21 provinces, 4 municipalities, 2 autonomous regions, and Hong Kong by August 2025 [8].

Core Viewpoint - The article discusses the significant decline in consumer trust and sales for Xibei due to controversies surrounding the use of pre-prepared dishes, highlighting a disconnect between the company's definitions and consumer expectations [1][3][16]. Group 1: Company Performance - Xibei has experienced a drastic drop in order volume and revenue, with once-popular dishes now seeing little interest from consumers [1]. - The company initially claimed that none of its dishes were pre-prepared according to national standards, but this assertion has been met with skepticism from consumers and media [3][5]. Group 2: Consumer Expectations - Consumers expect transparency and quality in their dining experiences, desiring freshly prepared meals rather than pre-prepared options, which they feel misled about [5][20]. - The article emphasizes that consumers are willing to pay for quality and experience, not just compliance with safety standards [5][16]. Group 3: Industry Insights - The situation with Xibei reflects a broader issue in the restaurant industry, where many companies focus on cost-cutting and efficiency at the expense of understanding consumer desires [16][17]. - The article suggests that maintaining only the minimum standards will lead to market failure, as consumer expectations represent the upper limit of what businesses should strive for [17]. Group 4: Future Actions - Xibei has announced intentions to improve transparency and shift food preparation from central kitchens to in-store by October 2025, alongside commitments to use non-GMO soybean oil and ensure children's meals are freshly made [18][20]. - The effectiveness of these promises will depend on the company's subsequent actions and ability to rebuild consumer trust [19][20].

Core Viewpoint - The company maintains a strong focus on the prepared food sector and is optimistic about its development, planning to develop personalized products based on consumer trends in the future [2] Group 1: Company Strategy - The company has been experiencing consecutive years of revenue and net profit decline prior to becoming a supplier for Sam's Club's deboned duck feet in July 2024 [2] - The collaboration with high-potential channels is part of the company's long-term strategic layout, which includes product innovation and channel optimization to enhance operational quality [2] - The company believes that sustainable development stems from systematic competitiveness and will continue to deepen its multi-channel construction and refined operations to provide better products and services to consumers [2]

Market Performance - On September 17, 2025, the market opened low and closed high, with the ChiNext Index reaching a new high for the period. The Shanghai Composite Index rose by 0.37%, the Shenzhen Component Index increased by 1.16%, and the ChiNext Index gained 1.95%[3] - The total market turnover was 24,029.16 billion CNY, an increase of 358.68 billion CNY compared to the previous trading day[3] Sector and Style Analysis - Among the 30 CITIC first-level industries, most sectors saw gains, with the top performers being Comprehensive Finance (3.93%), Electric Equipment and New Energy (2.90%), and Automotive (2.13%). The laggards included Consumer Services (-1.07%), Agriculture, Forestry, Animal Husbandry, and Fishery (-0.98%), and Retail (-0.95%)[21] - In terms of investment style, growth stocks outperformed value stocks, with large-cap growth leading small-cap value, and fund-heavy stocks performing better than the CSI All Share Index[21] Capital Flow - On September 17, 2025, the net outflow of main funds was 383.06 billion CNY, with large orders contributing to the outflow of 212.53 billion CNY and super large orders accounting for 170.53 billion CNY. Small orders saw a continuous net inflow of 473.14 billion CNY[26] - Southbound funds recorded a net inflow of 94.41 billion HKD, with the Shanghai-Hong Kong Stock Connect contributing 21.56 billion HKD and the Shenzhen-Hong Kong Stock Connect contributing 72.85 billion HKD[5] Global Market Overview - On September 17, 2025, major Asia-Pacific indices showed mixed results, with the Hang Seng Index rising by 1.78% to 26,388.16 points and the Nikkei 225 Index declining by 0.25% to 44,790.38 points[33] - European indices generally fell on September 16, 2025, with the DAX Index down 1.77% and the FTSE 100 Index down 0.88%[34]

爆料邮箱：all_cj@ifeng.com 一星期内，从西贝莜面村到太二酸菜鱼，又一家连锁餐饮品牌因"预制菜"问题被推上舆论风口。 凤凰网《风暴眼》出品 近日，凤凰网《风暴眼》实探太二酸菜鱼在北京的首家"鲜活门店"，实测点单后10分钟鱼已上桌。店员解释，活鱼是指"当天到店现杀"，而非"顾客点单后 现杀"，现杀现做顾客需要等待45分钟，"时间太长了"。 从实探了解的情况来看，至少将其"鲜活门店"菜品直接定义为"预制菜"并不完全准确，为节省顾客等待时间，门店提前杀鱼似乎也情有可原，只是品牌在 宣传中重点突出"活鱼"，容易使消费者产生"即点即杀"的预期，客观上构成了类似"文字游戏"带来的理解偏差。 这一系列事件，再次折射出整个餐饮行业在效率、真实性与宣传尺度上的集体困境，而"预制菜"成为了承接消费者愤怒的宣泄口与典型符号。 01 实探太二"鲜活门店" 近期，有媒体实探太二酸菜鱼门店，"7分钟上齐三道菜"的出餐速度，令消费者对其宣传的"活鱼现做"产生质疑。与此同时，该品牌一年关闭65家门店、业 绩明显下滑， #太二酸菜鱼为何没人吃了 # 话题也登上热搜。 争议的核心，依然围绕"预制菜"是否真实存在，以及品牌宣传与消费 ...

Market Overview - On September 17, A-shares saw all three major indices rise, with the ChiNext Index increasing by nearly 2% and total trading volume in the Shanghai and Shenzhen markets reaching 24,029.24 billion yuan, an increase of over 35 billion yuan compared to the previous trading day [1] - More than 2,500 stocks closed higher, with 80 stocks hitting the daily limit up [1] - Key sectors that performed well included photolithography machines, copper cable high-speed connections, and flexible screens, while sectors such as duty-free shops and prepared dishes saw declines [1] Shareholder Dynamics - According to statistics, 733 companies reported their latest shareholder numbers as of September 10, with 103 stocks experiencing a continuous decline in shareholder numbers for more than three periods, with the most significant drop being 12 periods [2] - ST Huawen had the highest reduction in shareholder numbers, down 14.42% to 63,064, while *ST Jinglun saw a 36.88% decrease to 39,050 [2][3] - Notable companies with significant recent declines in shareholder numbers include Beifang Changlong, Hubei Broadcasting, and Pioneer Electronics, with reductions of 16.91%, 10.31%, and 10% respectively [3] Institutional Activity - In the latest trading session, 11 stocks were net bought by institutions, with Haoen Qidian and Weilan Lithium Chip each seeing net purchases exceeding 90 million yuan [4][5] - Conversely, Tianji Co. faced the highest net sell-off by institutions, amounting to 113 million yuan, followed by Baoxiniang and Bangji Technology, both exceeding 10 million yuan in net sales [4][6] Notable Announcements - Pinming Technology announced a stock suspension due to a major matter that may lead to a change in control [7] - Tianpu Co. completed its stock trading suspension review and will resume trading [7] - Pingzhi Information has pre-awarded a project for artificial intelligence computing power services worth approximately 170 million yuan [7] - Heng Rui Pharmaceutical's HRS-5635 injection has been included in the list of proposed breakthrough treatment varieties [8] - Maiwei Bio-U signed an exclusive licensing agreement with Kalexo, potentially receiving up to 1 billion USD in upfront and milestone payments [9]

Core Viewpoint - JD.com is strategically expanding into the food and beverage and hospitality sectors, leveraging its supply chain capabilities to innovate and enhance customer experience [3][5][9] Group 1: Business Expansion - JD.com is entering the food and beverage sector with a focus on the "Seven Fresh Kitchen" brand, aiming to open 10,000 locations nationwide within three years [4] - The company is also venturing into the hospitality industry by signing a strategic partnership with Jin Jiang Hotels, marking its first major collaboration since announcing its entry into the hotel market [5][6] Group 2: Supply Chain Innovation - JD.com is implementing a unique supply chain model in the food delivery market, which includes a "100 million yuan" initiative to recruit partners for signature dishes, aiming to improve food safety and quality [4][8] - The company plans to integrate its "Seven Fresh Kitchen" brand into hotel settings, enhancing the guest experience by offering additional products and services [6] Group 3: Market Positioning - JD.com is positioning itself against competitors by emphasizing quality over price, with a goal to reduce the average industry gross margin from 60% to 20% through supply chain optimization [9] - The company aims to redefine the perception of pre-prepared meals by leveraging its supply chain advantages and ensuring transparency in food preparation [8][9]

Core Viewpoint - The article discusses the declining performance and reputation of the restaurant chain "Tai Er" (太二酸菜鱼), highlighting issues related to food quality, customer satisfaction, and financial performance, which have led to a significant drop in stock price and market confidence [3][4][15]. Financial Performance - Tai Er's revenue for the first half of 2025 was 1.946 billion RMB, down 13.3% from 2.248 billion RMB in the same period last year, indicating a severe decline in its core brand performance [10][11]. - The operating profit for Tai Er was 262 million RMB, a decrease of 15.65% year-on-year, reflecting a deterioration in its profitability [10]. - The number of self-operated Tai Er restaurants decreased from 612 to 547, a reduction of 65 locations, contributing to the decline in same-store sales [11]. Customer Experience and Quality Issues - Reports indicate that customers have experienced issues with food quality, such as fish tasting sour and having a poor texture, leading to dissatisfaction [8][10]. - Complaints on platforms like Black Cat Complaints focus on food safety, including foreign objects in food and health issues after consumption [8]. Market Position and Brand Perception - The once-popular brand is losing its appeal, as consumers are no longer willing to wait in long lines for its offerings, indicating a shift in consumer sentiment [4][18]. - The brand's single-product strategy has shown vulnerability as market novelty fades and competition increases, leading to inevitable performance declines [4][18]. Stock Market Reaction - The stock price of the parent company, Jiumaojiu (九毛九), has plummeted from nearly 38 HKD at its peak to the current range of 2-3 HKD, representing a market value loss of over 90% [15]. - The company was recently removed from the "Hong Kong Stock Connect" list due to not meeting market capitalization and liquidity requirements, further impacting investor confidence [15][13]. Industry Competition - The competitive landscape has intensified, with many imitators entering the market, leading to a decrease in Tai Er's unique selling proposition [4][18]. - Analysts suggest that the brand's previous "internet celebrity" status is diminishing, making it more susceptible to price sensitivity and quality scrutiny from consumers [17][18].