在罗永浩手撕西贝之前，部分预制菜玩家已经打了退堂鼓。 智通财经注意到，金龙鱼（ SZ:300999 ）旗下中央厨房"丰厨"的预制菜产品已经在山姆渠道悄然消失。 智通财经从金龙鱼2023年年报至2025年中报中发现，该公司央厨（中央厨房）产品的数量逐年减少，在 2023年的财报中，央厨的预制菜还包括三鲜小肉圆、小酥肉、锅烧肉（山姆渠道）、台式卤肉（餐饮渠 道）等9个单品，以及两个半成品，到2024年年报中，山姆渠道的产品已经消失，预制菜类目也不被提 及，央厨产品被分成便当、米制品、面制品等，产品涵盖6款为便利店定制的饭团、中式堡等，而到了 2025年上半年，央厨产品仅剩下6款米饭类产品和便当两款。 | | 便当 | 酱烧牛肉饭 红烩牛肉芝士焗饭 | 美好便利店定制产品 711便利店定制产品 | | --- | --- | --- | --- | | | | | 低GI产品,微波加热即食,主要在电 | | | | 金龙鱼丰厨低GI米饭 | | | 央厨产 | | | 商渠道销售 | | = | | | 包含鲜米饭和菜肴包,微波加热即 | | | 米制品 | 金龙鱼丰厨海苔菌菇拌饭 | | | | | | 食,主要 ...

Core Insights - The recent criticism of pre-prepared dishes by Luo Yonghao has brought significant attention to the industry, highlighting both its growth potential and the challenges it faces [1] Industry Overview - The pre-prepared dish market in China reached a scale of 485 billion yuan in 2024, with projections to grow to 749 billion yuan by 2026 [1] - The industry connects agricultural production with consumer markets, becoming a popular segment in the food sector [1] Company Performance - Over half of the top 20 pre-prepared dish companies reported revenue declines in their 2025 semi-annual reports, with some experiencing drastic drops in net profit [2] - Notable companies like Weizhi Xiang and Qianwei Yangchu faced significant challenges, with Weizhi Xiang's net profit down 24.5% and Qianwei Yangchu's net profit down 39.7% [2] - Conversely, companies like Gai Shi Food showed positive growth, with a revenue increase of 11.39% in the first half of 2025 [3] Challenges Facing the Industry - The industry is under pressure from fluctuating raw material prices, which have significantly impacted profit margins [4] - Increased competition and market saturation have led companies to adopt aggressive promotional strategies, further squeezing profit margins [4] - A heavy reliance on B-end clients, particularly in the restaurant sector, poses risks, as evidenced by a significant drop in the number of distributors for Qianwei Yangchu [4][5] Consumer Trust Issues - Consumer confidence in pre-prepared dishes has been shaken by various negative incidents, including health concerns and lack of transparency from businesses [5][6] - A significant portion of consumers actively seek information about pre-prepared dishes, indicating a demand for greater transparency and safety [6] Regulatory Developments - The industry is moving towards greater regulation and standardization, with new guidelines being introduced to enhance food safety and quality [7] - Companies are adjusting to stricter standards regarding food additives and labeling, which is expected to improve product safety [7] International Expansion - There is a growing trend of companies looking to expand into international markets, with Southeast Asia projected to lead in growth rates [8] - The emergence of a consumer group favoring frozen pre-prepared foods indicates a shift in acceptance and demand for these products [8]