2月12日，百洋股份股价下跌2.64%，收盘报7.39元，成交额6309.06万元，主力资金净流出608.16万元； 2月13日，股价反弹1.35%，收盘报7.49元，成交额3359.00万元，主力资金转为净流入146.46万元。近7 日股价波动较大，区间跌幅0.79%，振幅5.70%，技术面显示20日压力位7.89元、支撑位7.33元，KDJ指 标处于超卖区域。 近期事件 经济观察网 百洋股份（002696）近期股价波动，预制菜国家标准征求意见稿发布，或对具备供应链优 势的企业形成利好。 股票近期走势 2月6日，预制菜国家标准征求意见稿发布，明确保质期不超过12个月，该标准有望推动行业洗牌，利好 具备供应链优势的龙头企业。百洋股份水产品加工业务占比约44.54%，并积极拓展预制菜内销市场， 可能受益于行业规范化。 ...

Core Insights - The implementation of national standards for prepared dishes is beneficial for the healthy development of the industry, with leading companies having advantages in production, transportation, quality control, and supply chain management, thus benefiting from the short-term normalization of the industry [1] - Long-term, the standardization of flavors and ease of preparation for B-end prepared dishes effectively addresses the core pain points of high labor costs and slow serving speeds in the catering industry, driven by the increase in chain restaurant rates [1] - The C-end prepared dishes have vast growth potential as consumer trust continues to rise [1] Group 1: Definition and Requirements - The draft clearly defines prepared dishes as pre-packaged dishes that require heating or cooking before consumption, excluding staple foods, fresh vegetables, ready-to-eat foods, and dishes made in central kitchens [2] - The use of preservatives is prohibited, and the use of food additives must be minimized, with a limited list of acceptable additives as per national standards [2] - The maximum shelf life for products is set to not exceed 12 months [2] - Detailed labeling requirements are established, including information on ingredients, composition, and preparation methods, allowing consumers to easily understand the product [2] Group 2: Consumer Rights and Transparency - The announcement promotes the protection of consumer rights and choices, encouraging food service providers to accept social supervision and take necessary measures to ensure transparency [3] - Food service providers are encouraged to clearly indicate the processing and preparation methods of dishes [3] - Various methods for disclosure, such as menus, ordering apps, and visible displays in stores, are suggested to enhance consumer understanding and trust in the products [3] Group 3: Industry Development and Investment Opportunities - The national standards for prepared dishes clarify requirements for production, storage, transportation, and labeling, raising industry entry barriers and operational costs, indicating a clear trend towards standardization [4] - This trend is expected to lead to increased industry concentration, with smaller companies potentially being eliminated, favoring leading companies with strong production capabilities and supply chain management [4] - The growth potential for C-end prepared dishes is significant, with strong brand companies likely to benefit first [4] - Investment recommendations include focusing on companies with clear capacity and channel advantages, such as Anjijia Food (603345) and Qianwei Central Kitchen (001215) [4]

Core Insights - The pre-made dish market for the Chinese New Year is projected to exceed 20 billion yuan in sales by 2025, with a year-on-year growth of over 50% [2] - However, a scandal in 2025 has led to increased consumer skepticism towards pre-made dishes, with 40% of surveyed respondents rejecting the idea of pre-made New Year's Eve dinners [2][3] - The market is experiencing a shift, with a projected growth of only 10% in 2026, indicating rising consumer demands and concerns about food safety [4] Consumer Sentiment - A survey revealed that 60.48% of respondents were influenced by the scandal when considering purchasing pre-made dishes for New Year's Eve [3][6] - The acceptance of pre-made dishes varies by type, with 66.19% accepting dim sum, 53.81% accepting cold dishes, and only 51.9% accepting desserts, while seafood and meat categories received less than 50% acceptance [4] Industry Trends - The number of pre-made dish-related companies in China exceeds 77,000, with over 12,000 new registrations in 2025 [7] - The industry is shifting from a focus on scale to value selection, as evidenced by a decline in average financing amounts from 150 million yuan in 2022 to 55 million yuan in 2023-2024 [7] - Regulatory measures are being introduced to standardize the industry, including a draft national standard for pre-made dishes expected to clarify definitions and safety regulations [6][7]

2026.01. 31 本文字数：1850，阅读时长大约3分钟 作者 | 第一财经 乐琰、揭书宜 春节临近，年夜饭是阖家团圆的核心仪式，前几年开始流行半成品类的年夜饭预制菜，公开数据显示， 2025年春节预制菜销售额突破200亿元，同比增长超50%。但2025年发生的预制菜风波使得一些餐饮 业者谈及"预制菜"就有些色变。 但争议也随之而来，食材新鲜度、添加剂使用、加工卫生成为消费者最关注的三大问题。2025年发生 的西贝预制菜风波更是将预制菜推到了风口浪尖。此种情况下，今年的年夜饭预制菜还好卖吗？ 在上述在线调查中，被问及西贝的预制菜风波是否对选购预制菜年夜饭有影响时，有60.48%的受访者 表示"有"。 "应该说前几年预制菜的销售量增长很快，尤其是春节的年夜饭、聚会类预制菜套餐销售都非常不错， 根据过往几年的情况来看，几乎每年的销售数据增长都可以达到100%，但是2026年这个数据就跌了很 多，涨还是涨的，但仅仅是微涨10%左右，我们估测是目前市场上对预制菜的争议以及消费者的要求 也越来越高所致。"张伟担任大型零售企业采购主管多年，他告诉第一财经记者，这些年都在研究和售 卖预制菜产品，最近也正在为春节市场忙 ...

Core Insights - The pre-made meal market for the Chinese New Year is experiencing a transformation due to the dual pressures of convenience and food safety concerns, reflecting deeper industry dynamics and transitional pains [1][3] Market Trends - The sales of pre-made meals for the 2025 Chinese New Year exceeded 20 billion yuan, marking a year-on-year increase of over 50% [1] - However, the market is facing challenges, with a projected growth of only about 10% for 2026, indicating a slowdown compared to previous years [7] Consumer Sentiment - A survey revealed that 60.48% of respondents were influenced by the 2025 food safety incident involving pre-made meals when considering their purchases [4] - Acceptance of pre-made meals for the New Year dinner is mixed, with 40% of respondents rejecting the idea, while 39.05% accepted it [5] Product Preferences - Consumers show a higher acceptance for pre-made snacks (66.19%), cold dishes (53.81%), and desserts (51.9%), while other categories like seafood and meat are less favored [7] Industry Challenges - The food safety incident has led many restaurants to emphasize freshly prepared meals, with a call for clearer industry standards [9] - The Chinese government is working on establishing national standards for pre-made meals to enhance food safety and industry regulation [9] Industry Landscape - There are over 77,000 existing pre-made meal companies in China, with more than 12,000 new registrations in 2025 [11] - The investment landscape has shifted from a focus on scale to value selection, with a significant drop in average financing amounts from 150 million yuan in 2022 to 55 million yuan in 2023-2024 [11]

Core Insights - The pre-prepared food industry is moving towards standardization and regulation with the drafting of national food safety standards and guidelines by the State Council's Food Safety Office [2][10] - The popularity of pre-prepared meals is driven by convenience and diverse flavors, particularly among younger consumers aged 21-30, who make up 43% of the consumer base [2][11] - Consumer concerns regarding food safety, pricing, and nutritional balance are leading to a more nuanced demand for pre-prepared meals [6][9] Group 1: Regulatory Developments - The State Council is collaborating with various departments to draft standards for pre-prepared meals, aiming to enhance consumer rights and promote high-quality industry development [2] - The upcoming public consultation on these standards is expected to refine definitions and classifications of pre-prepared meals, providing clearer guidance for industry growth [10] - The introduction of national standards is anticipated to compel companies to improve quality and phase out outdated production methods [10] Group 2: Consumer Insights - A survey indicates that 78.1% of restaurants do not transparently inform customers about the use of pre-prepared meals, leading to consumer distrust [9] - Despite a slight increase in food safety satisfaction, consumers express declining satisfaction regarding pricing, nutrition, and meal preparation time, indicating a shift towards more diverse and refined demands [6] - The perception of pre-prepared meals is influenced by the lack of transparency, with many consumers equating any non-freshly made meal with pre-prepared options [9] Group 3: Market Trends - The pre-prepared food industry in China is projected to exceed 600 billion yuan by 2025, driven by urbanization, evolving consumer demands, and advancements in agricultural technology [11] - The emphasis on standardization and regulation is expected to foster a competitive environment, promoting the survival of the fittest within the industry [11]

Group 1 - The founder of Xibei, Jia Guolong, admitted to mistakes in his approach and expressed a desire to learn from the practices of another company, Pang Donglai, emphasizing transparency and customer service [2] - Jia Guolong stated that Xibei will adopt a transparent approach moving forward, indicating a shift in strategy to better meet customer expectations [2] - The recent controversy surrounding "Xibei pre-made dishes" appears to be nearing resolution, which may lead to increased standardization and transparency in the pre-made food industry [5] Group 2 - Luo Yonghao announced a "ceasefire" regarding the Xibei incident, expressing hope for the swift introduction of national regulations related to pre-made dishes [3] - A draft national standard for pre-made food, led by the National Health Commission, has passed expert review and will soon be open for public consultation, marking a significant step towards regulation in the pre-made food sector [4] - Luo Yonghao reiterated his support for the use of pre-made dishes under certain circumstances, while emphasizing the consumer's right to know whether restaurants use pre-made food [4]

Core Viewpoint - The founder of Xibei, Jia Guolong, admitted his mistakes in handling customer relations and expressed a desire to learn from Pang Donglai, emphasizing transparency and customer satisfaction [3]. Group 1: Company Response - Jia Guolong stated that Xibei will adopt a transparent approach moving forward, indicating a shift in strategy to better meet customer expectations [3]. - The phrase "Customers have mistreated me a thousand times, but I treat customers like my first love" reflects a commitment to improving customer service [3]. Group 2: Industry Context - Luo Yonghao announced a pause on the controversy surrounding Xibei, highlighting the anticipation for national regulations on pre-prepared food [4]. - The National Health Commission's draft standards for pre-prepared food have passed expert review and will soon be open for public consultation, marking a significant step towards regulation in the industry [4]. - The upcoming regulations are expected to bring transparency to the use of pre-prepared food in restaurants, allowing consumers to be informed about what they are eating [4].