Core Viewpoint - The pre-prepared food concept is gaining traction in the market, with notable stock performance from companies like Delisi, Guolian Aquatic Products, and Gais Food following the approval of a national food safety standard draft by the National Health Commission [2] Group 1 - The pre-prepared food sector showed active performance in the stock market, with Delisi hitting the daily limit up, while Guolian Aquatic Products and Gais Food also experienced gains [2] - The draft of the national food safety standard for pre-prepared foods has passed expert review and is set to be opened for public consultation [2]

| 味知香被称为A股"预制菜第一股"，半年报显示：上半年，味知香归属净利润同比下滑了24.46%。 | | | --- | --- | | 对于预制菜行业所面临的挑战，味知香董事长、总经理夏靖此前在业绩发布会上表示，预制菜行业的繁荣与挑战并存，在市场规模快速增长的同时，消费者 | 需求的多元化和行业竞争的加剧也为预制菜企业提出更高的要求，同时，预制菜行业也面临了标准不一、食品安全、监管标准等问题，随着相关标准的逐步 | 千味央厨在互动平台回答投资者关于如何应对公众对预制菜行业的信任危机时表示，其深刻理解并高度重视当前市场对预制菜行业存在的信任挑战，并采取 了多项应对措施，包括源头严控与供应链升级，公司始终将保障原料的稳定供应与卓越质量视为重中之重；构建严密的质量监控体系，针对不同业务环节制 定了质量管理制度等。 出台，从长期来看，优质的品牌力将会是人们的消费选择， 9月15日，预制菜概念盘初走强，得利斯（002330.SZ）、惠发食品（603536.SH）涨停，味知香（605089.SH）、国联水产（300094.SZ）、千味央厨 （001215.SZ）、盖世食品（836826.BJ）、益客食品（301116 ...

Core Viewpoint - The pre-made food concept stocks have shown active performance, with notable gains in specific companies such as Delisi and Weizhi Xiang reaching their daily limit up [1] Group 1: Company Performance - Delisi and Weizhi Xiang both hit the daily limit up, indicating strong investor interest and market confidence in these stocks [1] - Other companies in the pre-made food sector, including Qianwei Yangchu and Guolian Aquatic Products, also experienced upward movement in their stock prices [1] - Gais Food also participated in the upward trend, reflecting a broader positive sentiment in the pre-made food industry [1]

Core Viewpoint - Delisi (SZ002330) reached its daily limit up on September 15, 2025, with a price of 5.45 yuan, marking a 10.1% increase and a total market capitalization of 3.462 billion yuan, driven by trends in the prepared food and pig farming industries, as well as animal protein processing [1] Group 1: Company Overview - Delisi is primarily engaged in the entire pig industry chain, beef import processing, and deep processing of animal protein, with products including chilled meat, low-temperature meat products, prepared dishes, and fermented meat products [1] - The growing demand for prepared dishes, driven by faster consumer lifestyles, positions Delisi to benefit from industry trends, potentially enhancing its performance and stimulating stock price increases [1] Group 2: Market Dynamics - Recent fluctuations in pork prices have heightened market attention on companies within the pig industry chain, with Delisi's comprehensive pig industry chain operations allowing it to better navigate market changes [1] - If pork prices stabilize and rebound, Delisi's profit margins are expected to expand, contributing positively to its financial outlook [1] Group 3: Technical Analysis - Technically, Delisi's stock price had been in a consolidation phase prior to the limit up, indicating a potential breakout from key resistance levels [1] - Data from Dongfang Caifu indicates a net inflow of large orders on the day of the limit up, suggesting the involvement of major funds in driving the stock price higher [1]

Group 1 - The pre-prepared food concept is showing active performance in the market, with companies like Delisi reaching the daily limit increase, and Guolian Aquatic Products and Gais Food also experiencing gains [1] - The National Health Commission has led the drafting of the "National Standards for Food Safety of Pre-prepared Dishes," which has passed expert review and is set to be publicly solicited for opinions [1]

Core Viewpoint - The pre-made food concept is gaining strength in the market, with several companies experiencing significant stock price increases, indicating a growing interest in this sector [1] Company Performance - Delisi has reached its daily limit increase in stock price, reflecting strong market confidence [1] - Other companies such as Weizhi Xiang, Guolian Aquatic Products, Qianwei Yangchu, Gais Food, Yike Food, and Huifa Food have also seen their stock prices rise in response to the trend [1]

Core Viewpoint - The involvement of Luo Yonghao in promoting LXJ International Holdings Limited (Lao Xiang Ji) during its IPO process has garnered significant attention, overshadowing traditional investment banks and VCs [1][3][24]. Group 1: IPO Progress and Financial Performance - Lao Xiang Ji's updated prospectus indicates a projected valuation range of 15-20 billion RMB [4][10]. - For 2024, the company achieved a revenue of 6.288 billion RMB, reflecting an 8.59% year-on-year growth, and a net profit of 409 million RMB, up 8.84% [5]. - In the first four months of 2025, the company continued its growth trajectory with revenues of 2.12 billion RMB and a net profit of 174 million RMB, representing year-on-year increases of 9.92% and 7.27% respectively [5]. Group 2: Store Expansion and Business Model - As of April 30, 2025, Lao Xiang Ji operated 1,564 stores across 58 cities in 9 provinces, with 911 being direct-operated and 653 franchised [7]. - The company transitioned 146 direct-operated stores to franchised ones in 2024, marking a historical high, and added 88 franchised stores in the first four months of 2025 [8]. - The revenue share from independent franchise stores surpassed 51.1%, indicating a shift in revenue structure [9]. Group 3: Historical Context and Financing - Lao Xiang Ji has undergone multiple IPO attempts, with at least four formal submissions, including two for A-shares and two for H-shares, with the latest submission occurring on July 7, 2023 [17][21]. - The company has completed two rounds of financing since its inception, with the first round in 2019 raising 200 million RMB at a post-investment valuation of 4 billion RMB [15]. - A Pre-IPO round in December 2021 raised additional funds, leading to a post-investment valuation of approximately 18 billion RMB [15]. Group 4: Market Perception and Challenges - The recent public endorsement by Luo Yonghao has led to speculation about the likelihood of a successful IPO for Lao Xiang Ji, with some netizens humorously suggesting that the company should support Luo in his legal battles to maintain the publicity [24]. - Despite the positive buzz, experts caution that previous IPO rejections were due to unresolved issues, such as high family ownership stakes and relatively low profit margins compared to competitors [25][26][27].

Core Viewpoint - The recent discussions surrounding "pre-prepared dishes" have been ignited by two major "super traffic engines," leading to widespread debate across various platforms. The core issue lies in the ambiguous definition of "pre-prepared dishes," which has resulted in differing interpretations among stakeholders, including consumers, media, and industry professionals [1][3][9]. Definition and Understanding of "Pre-prepared Dishes" - The term "pre-prepared dishes" has been used for a long time but remains poorly defined, even in official documents. This lack of clarity contributes to the ongoing debates, as different parties have varying understandings of what constitutes a "pre-prepared dish" [7][9]. - The Chinese Culinary Association has established a widely accepted standard (T/CCA 024-2022) categorizing "pre-prepared dishes" into "pre-prepared raw vegetables," "ready-to-cook pre-prepared dishes," and "ready-to-eat/heat pre-prepared dishes." This classification has led to the perception of a vast market potential, often referred to as a "trillion-dollar market" [10][11]. Regulatory Developments - In 2024, the National Market Supervision Administration and other ministries issued a notice to strengthen food safety regulations for pre-prepared dishes, emphasizing their "industrial pre-processing" and "minimal or no reheating" attributes. This notice also clarified that certain food items, such as frozen staples and salads, do not fall under the category of "pre-prepared dishes" [11][13]. Key Concerns in the Debate - A common consumer sentiment is the demand for mandatory labeling of pre-prepared dishes to ensure transparency and protect consumer rights. However, the current regulations do not mandate such labeling, and the lack of clear definitions complicates the implementation of this request [15][16]. - Consumers express dissatisfaction when pre-prepared dishes are sold at prices comparable to freshly made dishes, leading to feelings of deception. This issue is rooted in the ambiguity surrounding the definitions of "pre-prepared" and "freshly made" [17][18]. - The debate also includes concerns about restaurants claiming pre-prepared dishes as freshly made, which raises questions about the standards used to determine the authenticity of such claims [20]. Industry Implications - The emergence of the term "pre-prepared dishes" has created a popular investment avenue, attracting attention to the potential market. However, negative experiences with low-quality pre-prepared products have tarnished the reputation of the entire category, leading to a backlash against the concept [21]. - The industry is encouraged to establish clearer classification standards to enhance consumer understanding and trust. Ultimately, consumers prioritize the taste, safety, and price of dishes, regardless of whether they are prepared in-house or through centralized kitchens [24][26].

Core Viewpoint - The ongoing debate between Luo Yonghao and Xibei has brought the prepared food sector into the spotlight, highlighting the market potential and performance of related stocks in the A-share market [2][3]. Prepared Food Sector Overview - There are currently 31 A-share companies in the prepared food sector, with major players including Jinlongyu (金龙鱼, 300999.SZ), Shuanghui Development (双汇发展, 000895.SZ), and Sanquan Foods (三全食品, 002216.SZ). Most of these companies are listed on the main board, with 29 on the main board and 2 on the ChiNext board [2]. - Jinlongyu is the only company in the prepared food sector with a market capitalization exceeding 100 billion yuan, reaching 179.726 billion yuan as of September 12. Shuanghui Development and New Hope (新希望, 000876.SZ) follow with market capitalizations of 89.076 billion yuan and 46.647 billion yuan, respectively [2]. Market Performance - The prepared food sector has seen a 10.27% increase in stock prices from early July to September 12, with over 90% of the stocks in this sector experiencing price increases during this period. The highest gain was recorded by Bubugao (步步高), with a 36.55% increase [5]. - Year-to-date, the prepared food sector has risen by 17.88%, with Bubugao achieving a remarkable 68.35% increase and Babi Foods (巴比食品, 605338.SH) rising by 42.66% [5]. Financial Performance - In the first half of the year, Jinlongyu reported the highest revenue in the sector, achieving 115.682 billion yuan, a year-on-year increase of 5.67%, and a net profit of 1.756 billion yuan, up 60.07% [7]. - New Hope and Shuanghui Development also reported significant revenues, with New Hope generating 51.625 billion yuan (up 4.13%) and Shuanghui Development recording 28.414 billion yuan (up 2.97%) [7].

Core Viewpoint - The pre-prepared food sector is gaining attention, with several companies in the market reaching significant market capitalizations, including those exceeding 100 billion yuan and even 1 trillion yuan [2][3]. Company Overview - There are currently 31 A-share companies in the pre-prepared food sector, with major players including Jinlongyu (金龙鱼, 300999.SZ), Shuanghui Development (双汇发展, 000895.SZ), and Sanquan Foods (三全食品, 002216.SZ) [2]. - Jinlongyu is the only company in the sector with a market capitalization exceeding 1 trillion yuan, valued at 179.726 billion yuan as of September 12 [2]. - Other notable companies include Shuanghui Development and New Hope (新希望, 000876.SZ), with market capitalizations of 89.076 billion yuan and 46.647 billion yuan, respectively [2]. Market Performance - As of September 12, the pre-prepared food sector has shown a 10.27% increase since early July, with over 90% of the stocks in the sector experiencing price increases during this period [3][4]. - The stock with the highest price on September 12 was Anjixin Foods (安井食品, 603345.SH) at 74.01 yuan per share, followed by Qianwei Yangchun (千味央厨) and Jinlongyu at 33.59 yuan and 33.15 yuan, respectively [3]. Financial Performance - In the first half of the year, Jinlongyu reported the highest revenue in the sector at 115.682 billion yuan, a year-on-year increase of 5.67%, with a net profit of 1.756 billion yuan, up 60.07% [5][7]. - New Hope achieved revenue of 51.625 billion yuan, with a net profit of 755 million yuan, reflecting a year-on-year growth of 4.13% and 162%, respectively [5][7]. - Shuanghui Development reported revenue of 28.414 billion yuan and a net profit of 2.323 billion yuan, with year-on-year growth rates of 2.97% and 1.17% [5][7].