Core Viewpoint - Xi'an Catering Co., Ltd. reported a decline in revenue and net profit for the first half of 2025, with a focus on improving operational efficiency and expanding sales channels to counteract market challenges [1][3]. Company Overview and Financial Indicators - The company did not distribute cash dividends or bonus shares for the reporting period [1]. - The total revenue for the first half of 2025 was approximately 306.57 million yuan, a decrease of 12.08% compared to the same period last year [3][5]. - The net profit attributable to shareholders was approximately -54.17 million yuan, showing an improvement of 9.19% from the previous year's loss [3]. Main Business Activities - The primary business includes catering services and industrial food processing, with nearly 100 outlets, many of which are historical and well-known brands in Shaanxi Province [3][4]. - The company offers a variety of local dishes, including Shaanxi cuisine, Cantonese cuisine, and other regional specialties [3]. Operational Performance - The company implemented various strategies to enhance operational efficiency, including product innovation and marketing campaigns targeting holiday seasons [4]. - The company focused on expanding online sales and collaborating with e-commerce platforms to increase revenue [4][5]. Financial Data Analysis - The revenue from catering services decreased by 17.68%, while revenue from manufacturing increased by 6.95% [5]. - The company’s total assets at the end of the reporting period were approximately 1.37 billion yuan, a decrease of 1.95% from the previous year [3]. Risk Management - The company outlined potential risks and corresponding measures in its management discussion section, emphasizing the importance of monitoring market conditions [1]. Competitive Advantages - The company has established a strong brand presence with multiple "Chinese Time-honored Brands" recognized by the Ministry of Commerce [4]. - The company has a skilled technical team and management personnel with extensive experience in the catering industry [4].

Core Insights - The 34th Harbin International Economic and Trade Fair showcased local brands, particularly traditional "old brands" from Heilongjiang, emphasizing their cultural heritage and market vitality [1] - The exhibition featured a larger area than previous years, incorporating intangible cultural heritage (ICH) elements, with 20 enterprises participating across four categories: specialty foods, ICH crafts, dairy products, and soybean products [1] Company Highlights - **Yue Liang Ba Zhen** presented over 50 products, including a notable "roast chicken" recognized as a provincial intangible cultural heritage in 2024, made from free-range chickens and a secret herbal marinade [1] - The company is in talks with Xinjiang merchants to expand its market through regional collaboration [1] - **Lao Ding Feng**, a historic pastry brand, showcased various products including improved soft bread, which attracted significant consumer interest [3] - The company is developing a frozen dough series for traditional Chinese pastries, marking a first in this category [3] - **Qiu Lin Food**, established in 1900, highlighted four provincial ICH products and is expanding into e-commerce and outdoor dining [5] - The company produces over 300 products across nine categories, including traditional baked goods and beverages [5] - **Ha Rou Lian**, with a history dating back to 1913, continues to produce its signature red sausage, which is recognized as a provincial intangible cultural heritage [9] - The company has introduced frozen sausage products to meet modern consumer demands and is focusing on retail products appealing to younger demographics [11]